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Stock Market & Financial Investment News

News Breaks
July 7, 2014
06:17 EDTAMATApplied Materials upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Applied Materials to Overweight citing confidence in the current Moore’s Law–driven wafer equipment spending cycle and the closing of the merger with Tokyo Electron. The firm raised its price target for shares to $30 from $19.
News For AMAT From The Last 14 Days
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April 28, 2015
10:05 EDTAMATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Applied Materials (AMAT) downgraded to Neutral from Buy at Nomura... CGI Group (GIB) downgraded to Hold from Buy at Societe Generale... Celladon (CLDN) downgraded to Neutral from Buy at H.C. Wainwright... Coherent (COHR) downgraded to Neutral from Buy at B. Riley... Commerzbank (CRZBY) downgraded to Neutral from Overweight at JPMorgan... Continental Resources (CLR) downgraded to Neutral from Accumulate at Global Hunter... Crestwood Equity (CEQP) downgraded to Neutral from Overweight at JPMorgan... Crestwood Midstream (CMLP) downgraded to Neutral from Overweight at JPMorgan... Discovery (DISCA) downgraded to Sell from Neutral at UBS... Ericsson (ERIC) downgraded to Neutral from Buy at Goldman... First Merchants (FRME) downgraded to Market Perform from Outperform at Fig Partners... MDC Partners (MDCA) downgraded to Sector Perform from Outperform at RBC Capital... Medidata (MDSO) downgraded to Hold from Buy at Jefferies... Melco Crown (MPEL) downgraded to Underweight from Equal Weight at Morgan Stanley... SM Energy (SM) downgraded to Accumulate from Buy at Global Hunter... Springleaf (LEAF) downgraded to Neutral from Outperform at Macquarie... iGATE (IGTE) downgraded to Sector Perform from Outperform at RBC Capital.
09:05 EDTAMATApplied Materials downgraded to Neutral from Buy at Nomura
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08:36 EDTAMATApplied Materials outlook still favorable, says Stifel
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08:11 EDTAMATApplied Materials should be bought after merger terminated, says Pacific Crest
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06:28 EDTAMATApplied Materials reinstated with a Buy at Goldman
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April 27, 2015
16:27 EDTAMATOn The Fly: Top stock stories for Monday
Stocks on Wall Street began the session in positive territory and saw the Nasdaq and S&P 500 briefly hit new all-time highs in the process. By lunch time the Nasdaq and S&P crossed into negative ground while the Dow continued to struggle. The market limped into the close, digesting some of its recent gains, as investors prepared for the next round of earnings reports due out after the close, to be headlined by Apple (AAPL). ECONOMIC EVENTS: In the U.S., Markit's flash services PMI fell 1.4 points to 57.8 in April, versus the consensus forecast for a 59.5 reading. The Dallas Fed's manufacturing index remained weak at -16.0 in April, versus the consensus forecast for a -12.0 reading. In Europe, Spanish Prime Minister Mariano Rajoy lifted his nation's GDP forecast to 2.9% from 2.4% for 2015. COMPANY NEWS: Shares of Deutsche Bank (DB) trading in New York dropped $1.65, or 4.82%, to $32.61 after the bank, along with publishing its quarterly results, unveiled a major strategic overhaul. The bank plans to cut annual costs by another EUR3.5B, reduce the size of its securities business and lower its Postbank holdings next year to sub-50% from 94% by selling shares on the market before reducing its stake to zero in the medium term... Applied Materials (AMAT) and Tokyo Electron announced that they have agreed to terminate their merger agreement after the U.S. Department of Justice advised the parties that the coordinated remedy proposal submitted to all regulators would not be sufficient to replace the competition lost from the merger, leading the companies to determined that there is "no realistic prospect for the completion of the merger." Applied Materials also announced that its board has approved a new share repurchase program authorizing up to $3B in repurchases over the next three years beginning in Q3, but its shares fell $1.83, or 8.42%, to $19.97 following the news. MAJOR MOVERS: Among the notable gainers was iGATE (IGTE), which rose $1.54, or 3.36%, to $47.39 after the company entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share in a transaction will amount to $4B. Also higher was Tesla Motors (TSLA), which gained $13.04, or 5.97%, to $231.47 after Deutsche Bank analyst Rod Lache wrote in a note to investors that the company's soon to be unveiled electricity storage products may boost the company's results more than the Street expects. Among the noteworthy losers was Celladon (CLDN), which plunged $11.04, or 80.7%, to $2.64 and was downgraded by Street research firms after reporting that its phase 2b trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent Mydicar did not meet its primary and secondary endpoints. Also lower were shares of Akorn (AKRX), which fell $12.27, or 22.21%, to $42.97 after the drugmaker announced late Friday that it will need to further restate its previously issued financial statements for 2014. INDEXES: The Dow fell 42.17, or 0.23%, to 18,037.97, the Nasdaq slid 31.84, or 0.63%, to 5,060.25, and the S&P 500 dropped 8.77, or 0.41%, to 2,108.92.
16:00 EDTAMATOptions Update; April 27, 2015
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13:49 EDTAMATApplied Materials well positioned despite deal collapse, says Piper Jaffray
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12:28 EDTAMATApplied Materials weakness a buying opportunity, says JPMorgan
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12:19 EDTAMATApplied Materials weakness a buying opportunity, says Pacific Crest
Pacific Crest recommends buying Applied Materials on weakness following the terminated merger deal with Tokyo Electron. The firm sees significant earnings leverage, TAM expansion, and views valuation as compelling.
09:36 EDTAMATActive equity options trading on open
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09:32 EDTAMATApplied Materials trades sharply lower, levels to watch
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09:22 EDTAMATOn The Fly: Pre-market Movers
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05:32 EDTAMATApplied Materials announces $3B share repurchase authorization
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05:32 EDTAMATApplied Materials announces $3B share repurchase authorization
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05:31 EDTAMATApplied Materials, Tokyo Electron agree to terminate merger
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April 24, 2015
06:11 EDTAMATKLA-Tencor downgraded to Neutral from Buy at Citigroup
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April 20, 2015
19:21 EDTAMATSemiconductor equipment stocks rising after Lam Research Q3 results
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18:48 EDTAMATOn The Fly: After Hours Movers
UP AFTER EARNINGS: Lam Research (LRCX), up 9.2%... Fortinet (FTNT), up 9%. ALSO HIGHER: Lumber Liquidators (LL), up 2% after being initiated with a Buy, $45 target at Cantor... Geron (GERN), up 2.2% after being initiated with an Outperform at Oppenheimer... Applied Materials (AMAT), up 1.6% after Lam Research reported quarterly results. DOWN AFTER EARNINGS: Sanmina (SANM), down 10.5%... IBM (IBM), down marginally... Rambus (RMBS), down 3.7%.
07:30 EDTAMATApplied Materials added to Franchise Picks list at Jefferies
Jefferies added Applied Materials (AMAT) to its Franchise Picks list with the stock down 14% year-to-date. The firm attributes the pullback to concerns around tool reuse, and notes it still expects foundry capital spending to increase amid "increased process complexity and competition." Jefferies' work indicates TSMC's (TSM) and Intel's (INTC) capex cuts were driven by market share losses rather than innovation in tool reuse. It keeps a Buy rating on AMAT with a $29 price target.
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