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Stock Market & Financial Investment News

News Breaks
July 18, 2014
11:42 EDTAMD, INTC, BRCM, MU, TXNAMD 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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October 9, 2014
14:00 EDTAMDTiming of AMD CEO changes suggest another disappointing quarter, says Argus
After AMD announced last night that its CEO has stepped down, Argus notes that the change in the role is the fourth at the company since 2008 and that its suddenness suggests that its just ended quarter, which will be reported on in a week, will be disappointing. The firm believes executive turnover adds to the view that AMD’s business model is flawed or broken and Argus maintains its Hold rating on the stock.
10:00 EDTAMDOn The Fly: Analyst Downgrade Summary
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09:20 EDTAMDOn The Fly: Pre-market Movers
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08:08 EDTAMDAMD downgraded at Wedbush
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07:11 EDTAMDAMD downgraded to Neutral from Outperform at Wedbush
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07:03 EDTINTCIntel quarter to be in-line or modestly better, says Piper Jaffray
Piper Jaffray expects Intel's quarterly results on October 14 to be in-line to modestly above consensus. The firm's channel checks indicate PC demand trends will remain stable into year-end amid solid corporate demand. Piper reiterates an Overweight rating on Intel with a $37 price target.
October 8, 2014
18:31 EDTAMDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ruby Tuesday (RT), up 19.6%... Exar (EXAR), up 13.7% after reporting second quarter revenue guidance... Alcoa (AA), up 2.2%. ALSO HIGHER: Nuance (NUAN), up 2.5% following rumors that Carl Icahn will recommend that Apple (AAPL) buy the company... GrubHub (GRUB), up just under 1% after being initiated with a Buy at CRT Capital. DOWN AFTER EARNINGS: Kofax (KFX), down 20.1% after reporting first quarter revenue and fiscal 2015 revenue guidance below analyst estimates... ARC Group (ARCW), down 17%... E2open (EOPN), down 8.9%. ALSO LOWER: Gap (GPS), down 7.6% following September same store sales data and CEO transition... AMD (AMD), down 7% after announcing CEO transition.
18:21 EDTAMDAMD down 6.7% in after hours trading following departure of Rory Read as CEO
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16:56 EDTINTCGartner says worldwide PC shipments in Q3 declined 0.5%
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16:17 EDTAMDAMD appoints Dr. Lisa Su as CEO
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11:42 EDTMUStocks with call strike movement; AA MU
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10:00 EDTMU, INTCOn The Fly: Analyst Initiation Summary
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08:20 EDTBRCMQualcomm opportunity at Xiaomi almost rivals iPhone, says FBR Capital
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07:56 EDTBRCMBroadcom recently won large custom chip programs, says JPMorgan
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07:43 EDTMUMicron initiated with a Neutral at Ladenburg
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05:58 EDTAMDStocks with implied volatility above IV index mean; AVP AMD
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October 7, 2014
16:33 EDTINTCIntel initiated with a Market Perform at Northland
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13:34 EDTINTCIntel October volatility elevated into Q3 and revenue outlook
Intel October call option implied volatility is at 35, November is at 28, December is at 24; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q3 results after the market close on October 14.
10:17 EDTBRCMSamsung outlook miss weighs on suppliers
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06:18 EDTAMDAMD to release next-generation notebook APUs, DigiTimes reports
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