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April 23, 2014
06:08 EDTAMDAMD implied volatility of 42 at lower end of index mean range
News For AMD From The Last 14 Days
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July 17, 2015
08:31 EDTAMDAMD expense cuts needed to avoid bankruptcy, says Susquehanna
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July 16, 2015
19:04 EDTAMDOn The Fly: After Hours Movers
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18:24 EDTAMDAMD says goal of 2H15 profitability has been pushed out, cites low PC demand
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17:43 EDTAMDAMD sees 2H15 product ramps as key market share driver
Also cites seasonal improvement in PCs and game consoles and re-balanced inventory. For 2016, sees the following market share drivers: Semi-custom and embedded products ramp; Graphics and commercial client growth; New high performance CPUs. For 2017/2018, sees the following market share drivers: Strong datacenter portoflio; Additional semi-custom design wins ramp: Multi-generation roadmap investments deployed. Guidance from presentation slides for Q2.
17:39 EDTAMDAMD targets long-term EPS of greater than 50c per share
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17:36 EDTAMDAMD sees 2H15 revenue up 15%, plus or minus 3%
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16:42 EDTAMDAMD Q2 Computing and Graphics segment revenue decreased 29% sequentially
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16:28 EDTAMDAMD cites near-term challenges in PC processor business
"Strong sequential revenue growth in our EESC segment and channel business was not enough to offset near-term challenges in our PC processor business due to lower than expected consumer demand that impacted sales to OEMs," said Dr. Lisa Su, AMD president and CEO. "We continue to execute our long-term strategy while we navigate the current market environment. Our focus is on developing leadership computing and graphics products capable of driving profitable share growth across our target markets."
16:21 EDTAMDAMD reports Q2 gross margin 25%, non-GAAP gross margin 28%
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16:19 EDTAMDAMD sees Q3 revenue up 6%, plus or minus 3%, sequentially , consensus $1.05B
16:17 EDTAMDAMD reports Q2 adjusted EPS (17c), consensus (17c)
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15:02 EDTAMDNotable companies reporting after market close
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11:41 EDTAMDTSMC slips after reporting Q2 results, cautious outlook
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July 15, 2015
19:03 EDTAMDOn The Fly: After Hours Movers
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18:05 EDTAMDIntel pulls semiconductor peers higher after reporting Q2 results
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10:01 EDTAMDOn The Fly: Analyst Initiation Summary
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09:41 EDTAMDIDEXX should be watched after 'curious' board change, dealReporter says
IDEXX Laboratories (IDXX), which analysts have previously speculated could be a takeover target for Zoetis (ZTS), should be watched for any possible M&A hints after the "curious addition" of Advanced Micro Devices (AMD) Chairman Bruce Claflin to its board yesterday, said dealReporter, according to contacts.
06:49 EDTAMDAMD initiated with a Neutral at Mizuho
Target $2.25.
July 14, 2015
10:52 EDTAMDAnalysts say Micron could be sold, but not at price Tsinghua said to offer
Research firms have reacted to a Wall Street Journal report, published last night, that Chinese chip maker Tsinghua had offered to acquire Micron (MU) for $23B, or $21 per share. Summit Research said that Tsinghua would probably raise its bid, while JMP Securities wrote that the deal would be logical from Tsinghua's perspective. However, Piper Jaffray contended that the reported buyout offer is illogical and Cowen agreed, saying that the deal makes no sense for shareholders. ANALYST REACTION: Tsinghua may have indicated that it was making the "low ball" offer in order to gauge the reaction of Micron's management and shareholders to it, Summit Research analyst Srini Sundarararjan contended in a note to investors. Tsinghua will probably increase its bid, the analyst predicted, adding that he expects Micron's stock to reach $21 soon. Sundarararjan kept a $34 price target and Buy rating on Micron. JMP Securities analyst Alex Gauna wrote that the deal would be logical for Tsinghua, as it would allow the Chinese company to access leading edge process technology, enable it to deliver more complete system solutions, and give it access to 3D NAND technology. The analyst, who believes that other Chinese companies may make competing bids for Micron, finds it difficult to believe that Micron would accept an offer more than 5%-10% below its 52-week high of $36.50. Piper Jaffray analyst Ruben Roy countered that the deal makes sense for Tsinghua and China, but not for Micron. If a takeover of Micron was based on the average valuation that companies in Micron's sector have received in takeover deals over the last 18 months, it would fetch a takeover price of $43 per share, Roy estimated. Micron and Tsinghua are more likely to reach an intellectual property sharing deal than complete a takeover transaction, according to Roy, who kept an Overweight rating on Micron. Similarly, Cowen analyst Timothy Arcuri wrote that the $21 per share price wouldn't make sense for Micron's shareholders, since it's barely above the estimated replacement cost of the company's capacity. The analyst indicated that he does not believe that Tsinghua would actually make the deal and he thinks that the U.S. Department of Justice would not approve the deal if it does get offered. WHAT'S NOTABLE: In a separate note, Summit's Sundarararjan, noting that Intel (INTC) has a 20% stake in Tsinghua. contended that the U.S. chip giant probably "midwifed" Tsinghua's offer for Micron. The analyst says that Intel "carries a lot of weight" with the U.S. Department of Justice and he believes that the DOJ could approve the deal. PRICE ACTION: In morning trading, Micron jumped 11% to $19.60. Several other semi chip related stocks were also rising, with SanDisk (SNDK) gaining 4%, Advanced Micro Devices (AMD) advancing 3% and Atmel (ATML) adding 2%.
09:20 EDTAMDOn The Fly: Pre-market Movers
HIGHER: Natural Health Trends Corp. (NHTC), up 16.2% following second quarter guidance... Transgenomic (TBIO), up 14% after launching genetic test for Leukodystrophy diagnosis... Biocept (BIOC), up 12.4% after launching diagnostic assay for BRAF mutations in melanoma patients... Micron (MU), up 13.1% after WSJ reports that Tsinghua made $23B acquisition offer... SanDisk (SNDK) and AMD (AMD) are up 3.8% and 3.1%, respectively, following reports of Tsinghua offer to Micron... GoPro (GPRO), up 3.2% after being upgraded to Overweight from Equal Weight at Barclays. DOWN AFTER EARNINGS: Wells Fargo (WFC), down 1%... JPMorgan (JPM), down fractionally. ALSO LOWER: Vince Holding (VNCE), down 16.3% after being downgraded to Market Perform from Outperform at William Blair... Tonix Pharmaceuticals (TNXP), down 8.3% after 2.3M share Spot Secondary priced at $7.50... Spirit Airlines (SAVE), down 7.4% after pricing pressure leads to reduced fiscal 2015 margin view... Orbitz Worldwide (OWW), down 2.8% after being downgraded to Sell from Neutral at UBS.
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