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June 13, 2014
10:03 EDTANZBY, SXE, PVA, INTC, CNW, AA, SON, OI, GEF, CWH, ARAY, SRCL, PF, NMBL, EDR, BRCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ANZ Banking (ANZBY) upgraded to Buy from Neutral at Goldman... Accuray (ARAY) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded at BMO Capital... Brady (BRC) upgraded to Buy from Underperform at BofA/Merrill... CommonWealth REIT (CWH) upgraded at Stifel... Con-way (CNW) upgraded to Buy from Hold at Wunderlich... Education Realty (EDR) upgraded to Buy from Neutral at BofA/Merrill... Greif (GEF) upgraded upgraded to Buy from Underperform at BofA/Merrill... Intel (INTC) upgraded at Roth Capital... Nimble Storage (NMBL) upgraded to Strong Buy from Market Perform at Raymond James... Owens-Illinois (OI) upgraded to Buy from Neutral at BofA/Merrill... Penn Virginia (PVA) upgraded at Stifel... Pinnacle Foods (PF) upgraded to Outperform from Neutral at Credit Suisse... Sonoco Products (SON) upgraded to Buy from Neutral at BofA/Merrill... Southcross Energy Partners (SXE) upgraded to Buy from Hold at Stifel... Stericycle (SRCL) upgraded to Outperform from Neutral at RW Baird.
News For ANZBY;ARAY;AA;BRC;CWH;CNW;EDR;GEF;INTC;NMBL;OI;PVA;PF;SON;SXE;SRCL From The Last 14 Days
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June 26, 2015
05:54 EDTPVAStocks with implied volatility movement; CTL PVA
Stocks with implied volatility movement; CenturyLink (CTL) 30, Penn Virginia (PVA) 106 according to iVolatility.
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).
16:23 EDTPVAOn The Fly: Top stock stories for Thursday
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14:43 EDTPVAPenn Virginia spikes and retraces
The stock was last at $4.82, off the best level of the day at $5.46 but still up over 8%. Support is at $4.73.
14:41 EDTPVAPenn Virginia resumes, up 10% after issuing 'no comment' on market rumors
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14:37 EDTPVAPenn Virginia July calls active
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14:29 EDTPVAPenn Virginia says did not issue press release earlier, no comment on rumors
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14:25 EDTPVAPenn Virginia trading halted, pending news
13:08 EDTPVAPenn Virginia higher after blog speculates on another deal
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12:07 EDTPVABP said to make $8/share bid for Penn Virginia, Proactive Investors blog says
BP (BP) has made a $8 per share takeover bid for Penn Virginia (PVA), but the latter rejected the bid and is "holding out" for at least $10 per share, UK investor blog Proactive Investors claimed, citing people familiar with the matter. ExxonMobil (XOM) and Chevron (CVX) may also be interested in buying Penn Virginia, according to Proactive, which identifies itself as a "leading multi-media news organisation, investor portal and events management business." Penn Virginia shares are up 7% in midday trading following the report from the blog, which was previously credited for a report on alleged takeover advances made toward drugmaker Receptos (RCPT). Reference Link
11:58 EDTPVABP said to bid to buy Penn Virginia, Proactive Investors says
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09:34 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
June 24, 2015
17:57 EDTINTCWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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11:01 EDTINTCHoneywell and Intel to collaborate for Internet of Things security
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09:35 EDTINTCActive equity options trading on open
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08:18 EDTAAAlcoa volatility flat into Q2 and outlook
Alcoa July call option implied volatility is at 28, August is at 26, October is 27; compared to its 52-week range of 23 to 48, suggesting non-directional price movement into the expected release of Q2 results after the market close on July 8.
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
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