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Stock Market & Financial Investment News

News Breaks
July 18, 2014
11:42 EDTMU, AMD, BRCM, TXN, INTCAMD plummets after profit miss, analyst downgrades
Shares of semiconductor manufacturer Advanced Micro Devices (AMD) are sinking after the company’s second quarter profit trailed analysts’ consensus estimates. It also received several analyst downgrades. WHAT'S NEW: Last night, Advanced Micro Devices reported second quarter adjusted EPS of 2c and revenue of $1.44B, compared to analysts’ consensus estimates of 3c and $1.44B. Q2 gross margin was 35%. WHAT’S NOTABLE: For the third quarter, AMD expects revenue to increase 2%, plus or minus 3%, sequentially, compared to consensus of $1.57B. ANALYST REACTION: This morning, analyst commentary was mixed. FBR Capital downgraded AMD to Market Perform from Outperform citing a lack of earnings visibility following the company's weaker than expected Q3 outlook. The firm lowered its price target for the shares to $4.50 from $6. Another firm, BofA/Merrill, also downgraded AMD to Underperform from Neutral. The firm downgraded shares and lowered estimates to reflect weak guidance and lack of visibility. It lowered its price target to $4 from $4.50. Conversely, Wedbush said AMD’s fundamentals remain intact. After AMD reported lower than expected Q2 pro forma EPS, Wedbush says that Q2 was the fourth consecutive quarter for which the company demonstrated profitability, tight OpEx controls, and continued product execution. It thinks these trends are significantly positive and kept an Outperform rating on the shares. PRICE ACTION: In late morning trading, AMD fell 81c, or about 17.6%, to $3.77 on nearly three times its average daily trading volume. Including today’s pull back, the stock has lost approximately 19% over the past twelve months. OTHERS TO WATCH: Other companies in the semiconductor space include Intel (INTC), Broadcom (BRCM), Micron Technology (MU), and Texas Instruments (TXN).
News For AMD;INTC;BRCM;MU;TXN From The Last 14 Days
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December 12, 2014
07:17 EDTTXNSemiconductor indications have improved, says Bernstein
Bernstein believes that indicators for the semiconductor sector have improved since September, as expectations and valuations have dropped, while revision trends have been favorable,according to the firm. The firm thinks the outlook for the space is "reasonably positive." In conjunction with this note, Bernstein upgraded its rating on Freescale (FSL) to Outperform from Market Perform and hiked its target on the stock to $31 from $20. The firm increased its price target on Texas Instruments (TXN) to $63 from $54 and on Analog Devices to $55 from $50. It keeps an Outperform rating on Texas Instruments and a Market Perform rating on Analog Devices.
06:13 EDTMUMicron in talks to revise supply agreement with Inotera, DigiTimes reports
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December 11, 2014
06:32 EDTAMDGlobalfoundries hope to win orders from Qualcomm and Apple, DigiTimes reports
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06:26 EDTAMDAMD to expand into China Internet cafe market, DigiTimes reports
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December 10, 2014
08:40 EDTBRCMBroadcom price target raised to $53 from $46 at Brean Capital
Brean Capital raised its price target on Broadcom to $53 from $46 following the company's analyst day, citing its updated guidance range, potential for return of capital to shareholders, and its leading position in its business segments. Brean Capital reiterated its Buy rating on Broadcom shares.
08:04 EDTBRCMBroadcom price target raised to $52 from $48 at Oppenheimer
Oppenheimer raised its price target on Broadcom as the firm believes that the tone at the company's Analyst Day was positive. The firm thinks the company's networking unit looks poised for further share gains at Marvell's (MRVL) expense. Oppenheimer continues to recommend buying the stock.
07:21 EDTBRCMBroadcom price target raised to $52 from $45 at Susquehanna
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06:54 EDTBRCMBroadcom shares continue to have upside, says Deutsche Bank
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December 9, 2014
18:21 EDTBRCMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Korn/Ferry (KFY), up 3.1%... Analogic (ALOG), up 2.7%. DOWN AFTER EARNINGS: Freshpet (FRPT), down 8.5% after reporting quarterly results... Krispy Kreme (KKD), down 4.9%... Broadcom (BRCM), reverses to down just below 1%. ALSO LOWER: Agios Pharmaceuticals (AGIO), down 1.9% after filing to sell $175M of common stock... Yum! Brands (YUM), down 4.6% after providing fiscal 2015 operating guidance.
16:19 EDTAMDAMD announces move to NASDAQ
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16:10 EDTBRCMBroadcom enhances corporate governance measures
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16:07 EDTBRCMBroadcom increases dividend to 14c, authorizes $1B stock repurchase plan
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16:05 EDTBRCMBroadcom increases dividend to 14c, authorizes $1B stock repurchase plan
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16:04 EDTBRCMBroadcom raises Q4 revenue view to $2.075B-$2.15B, consensus $2.09B
Broadcom maintained the guided range for Q4 product dross margin on both a GAAP and non-GAAP basis. Now sees Q4 R&D and SG&A expenses closer to down about $50M and down about $40M on a GAAP and non-GAAP basis, respectively.
07:41 EDTAMDBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link
07:22 EDTAMDBMO Capital to hold a conference
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06:25 EDTMUMicron attempt to renegotiate supply agreement with Inotera, DigiTimes says
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December 8, 2014
15:18 EDTBRCMBroadcom December volatility elevated into analyst day
Broadcom December weekly call option implied volatility is at 53, December is at 34, January is at 27; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into a company sponsored analyst day on December 10.
07:36 EDTMUMicron December volatility of 31 at low end of historic range
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07:32 EDTAMDRaymond James to hold a conference
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