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Stock Market & Financial Investment News

News Breaks
June 27, 2014
09:50 EDTYRCW, MWE, GMCR, GLUU, AMSG, SXC, MTW, INTC, DRWI, SJR, LUKOY, FUL, BRKSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmSurg (AMSG) upgraded to Buy from Neutral at SunTrust... Brooks Automation (BRKS) upgraded to Buy from Hold at Stifel... DragonWave (DRWI) upgraded to Outperformer from Sector Performer at CIBC... Glu Mobile (GLUU) upgraded to Buy from Hold at Benchmark Co.... H.B. Fuller (FUL) upgraded to Buy from Hold at Deutsche Bank... Intel (INTC) upgraded to Market Perform from Underperform at Bernstein... Keurig Green Mountain (GMCR) upgraded to Buy from Hold at Argus... Lukoil (LUKOY) upgraded to Overweight from Equal Weight at Barclays... Manitowoc (MTW) upgraded to Hold from Underperform at Jefferies... MarkWest Energy (MWE) upgraded to Conviction Buy from Buy at Goldman... Shaw Communications (SJR) upgraded to Hold from Sell at Canaccord... SunCoke Energy (SXC) upgraded to Conviction Buy from Buy at Goldman... YRC Worldwide (YRCW) upgraded to Buy from Hold at BB&T.
News For AMSG;BRKS;DRWI;GLUU;FUL;INTC;GMCR;LUKOY;MTW;MWE;SJR;SXC;YRCW From The Last 14 Days
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June 25, 2015
17:56 EDTINTCMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
09:34 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
09:19 EDTGMCRKeurig Green Mountain price target lowered to $95 from $117 at BofA/Merrill
BofA/Merrill lowered Neutral rated Keurig Green Mountain's price target to $95 from $117 and lowered estimates to reflect 2016 spending and slower hot platform growth. The firm expects 2016 to be a significant investment year and lowered its hot brewer expectations due to a muted consumer reception for second generation brewers.
08:07 EDTSJRShaw Communications reports Q3 EPS C$0.42, consensus C$0.49
Reports Q3 revenue C$1.42B, consensus C$1.42B.
June 24, 2015
20:00 EDTFULH.B. Fuller revises FY15 EPS view to $2.45, consensus $2.54
Revises FY15 revenue guidance to $2.1B, consensus $2.16B.
19:55 EDTFULH.B. Fuller reduces FY15 EPS guidance by about 10c
H.B. Fuller is updating its FY15 earnings guidance primarily to reflect an expected increase in its core tax rate. The strong earnings performance in its Americas Adhesives and Construction Products operating segments, combined with the delay in earnings improvement in its EIMEA operating segment, is shifting the mix of its consolidated pre-tax earnings to the United States where its effective tax rate is relatively high. The company now expects its full-year core tax rate to be about 34%, up 300 basis points from its previous estimate, reducing its expected adjusted diluted EPS by about 10c. H.B. Fuller's updated guidance also anticipates higher operating margins for the full year offset by lower revenue. The company's current target for full-year adjusted EBITDA is about $275M, largely in-line with its original guidance, with a full-year EBITDA margin of about 13% and second half EBITDA margin above 15%. H.B. Fuller's revised and updated adjusted diluted EPS estimate for FY15 is $2.45 with revenue of $2.1B.
19:51 EDTFULH.B. Fuller reports Q2 adjusted EPS 63c, consensus 66c
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17:57 EDTINTCWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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17:35 EDTSJRShaw Communications confirms Rogers Communications intention to acquire licenses
Shaw Communications (SJR) confirmed that Rogers Communications (RCI) announced its intention to exercise its option to acquire Shaw's spectrum licenses for advanced wireless service in British Columbia, Alberta, Saskatchewan, Manitoba and Northern Ontario. Rogers acquired the option as one of a number of transactions announced on January 14, 2013. On exercise of the option, Rogers would pay Shaw $100M. With the $50M purchase price for the option and $200M down payment, each paid by Rogers to Shaw in 2013, the total proceeds for the sale of Shaw's spectrum would be $350M. The transaction is expected to close by the end of June.
11:01 EDTINTCHoneywell and Intel to collaborate for Internet of Things security
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10:11 EDTSJRRogers Communications to buy Mobilicity, acquire spectrum from Shaw
Rogers Communications (RCI) said it will immediately boost speed and quality for wireless customers in BC, Alberta and Southern Ontario as part of a series of transactions, as the company is completing the previously announced acquisition of Shaw's (SJR) AWS-1 spectrum and acquiring 100% ownership of Mobilicity. The company is also divesting, post transaction, certain AWS-1 spectrum to WIND Mobile that is contiguous to their spectrum holdings. As per the previously announced terms to complete the Shaw spectrum acquisition, Rogers will pay C$100M in addition to the down payments made when the agreement was originally announced in January 2013. The transaction with Mobilicity is supported and was facilitated by The Catalyst Capital Group, on behalf of investment funds managed by it, working closely with Rogers on the structuring of the transaction. The C$440M purchase price is offset by tax losses valued at approximately C$175M which Rogers will acquire. The transaction is subject to working capital adjustments. Following the acquisition of spectrum from Shaw and Mobilicity respectively, Rogers and WIND will undertake an AWS-1 spectrum swap in Southern Ontario to create contiguous spectrum for Rogers. Rogers will also divest certain non-contiguous AWS-1 spectrum to WIND Mobile in BC, Alberta, Saskatchewan, Manitoba and Northern Ontario and Eastern Ontario. The purchase of Mobilicity is subject to approval by the Competition Bureau and the Court. The transactions have been approved by Industry Canada.
09:35 EDTINTCActive equity options trading on open
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June 23, 2015
12:54 EDTINTCPC concerns weighing on shares of Seagate, Western Digital
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07:41 EDTINTCRed Hat to hold a summit
Red Hat Summit 2015 is being held in Boston on June 23-26 with webcasted company presentations to begin on June 23 at 4 pm; not all presentations may be webcasted. Webcast Link
06:05 EDTINTCIntel pushing into SSD market and hope to surpass Samsung in 2016, DigiTimes says
Intel (INTC) is looking to push into the SSD market with its newest 750 series SSDs with technology able to enhance the transmission speed, reports DigiTimes. According to sources from the upstream supply chain, the company is also offering price cuts on its existing products in order to narrow its gap with the largest vendor Samsung (SSNLF). Sources also expect Intel to draw near to Samsung in 2H15 and may even have a chance to surpass Samsung in 2016. Reference Link
06:05 EDTINTCNo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
06:00 EDTGMCRKeurig Green Mountain implied volatility of 25 at lower end of index mean range
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June 22, 2015
09:40 EDTINTCActive equity options trading on open
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08:35 EDTINTCKopin divests interest in Recon Instruments
Kopin (KOPN) said it had divested its equity interest in Recon Instruments as part of Intel Corporationís (INTC) acquisition of Recon. Kopin anticipates that it will receive approximately $6M in cash proceeds for its equity interest, subject to certain closing conditions including a working capital adjustment.
June 21, 2015
16:32 EDTINTCAMD considers spinoff or break-up, Reuters says
AMD (AMD) has hired a consulting firm to help it review a potential split or spinoff, Reuters reported late Friday, citing three people familiar with the matter. Reuters notes that AMD may be seeking to better compete with Intel (INTC), and sources said one option being considered is to separate AMD's server business from its graphics and licensing arm. Though the company had previously decided against such an option, sources noted that CEO Lisa Su believes the move is worth reconsidering. Reference Link
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