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August 18, 2014
10:01 EDTARW, WCG, MNST, LVNTA, FRT, RNR, MCY, INVN, ELY, WERN, NXPI, MXIM, CSTMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Arrow Electronics (ARW) downgraded to Neutral from Buy at Goldman... Callaway Golf (ELY) downgraded to Neutral from Buy at DA Davidson... Constellium (CSTM) downgraded to Neutral from Outperform at Credit Suisse... Federal Realty (FRT) downgraded to Hold from Buy at Jefferies... InvenSense (INVN) downgraded to Neutral from Buy at Goldman... Liberty Ventures (LVNTA) downgraded to Sell from Neutral at Citigroup... Maxim Integrated (MXIM) downgraded to Buy from Conviction Buy at Goldman... Mercury General (MCY) downgraded to Underperform at Keefe Bruyette... Monster Beverage (MNST) downgraded to Hold from Buy at Jefferies... NXP Semiconductors (NXPI) downgraded at Goldman... RenaissanceRe (RNR) downgraded to Sell from Hold at Deutsche Bank... WellCare (WCG) downgraded at Wedbush... Werner (WERN) downgraded to Underperform from Neutral at BofA/Merrill.
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November 24, 2015
11:49 EDTELYCallaway Golf management to meet with Sterne Agee CRT
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10:31 EDTNXPINXP Semiconductors CFIUS approval removes a major overhang, says BofA/Merrill
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08:39 EDTWCGNew York Department approves WellCare's programs expansion
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05:37 EDTCSTMConstellium to build greenfield manufacturing facility Bartow County, Georgia
Constellium announced that it will construct a new manufacturing facility in Bartow County, Georgia, in response to growing demand for its automotive structures in North America. This project represents a $20M investment by Constellium and an additional $12M investment by developer Seefried Properties, for a total project value of $32M. Construction of the plant will begin in early 2016 with start of production anticipated in 2017. Constellium expects to create approximately 150 high-tech manufacturing jobs at this location by 2019.
05:34 EDTNXPINXP Semiconductors and JAC receives CFIUS clearance
NXP Semiconductors announced that the company has received clearance on the proposed transaction of the sale of its RF Power business to Jianguang Asset Manangement from the Committee on Foreign Investment in the United States. The divesture of the RF Power business is a condition for NXP's merger with Freescale Semiconductor. NXP and JAC Capital are in the final stages of the regulatory approval process in respect of the acquisition by JAC Capital of NXP's RF Power business, which is targeted to close on December 7, next.
November 20, 2015
08:26 EDTWCGManaged Medicaid names unfairly punished yesterday, says Leerink
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November 19, 2015
10:11 EDTINVNHigh option volume stocks
08:43 EDTELYCallaway Golf has healthy read through from report, says Sterne Agee CRT
Sterne Agee CRT believes that the October Retail Manufacturers Reports by Golf Datatech indicate that Callaway Golf has "healthy momentum." The firm says that the report shows that the industry is growing at a healthy pace, while the company is gaining market share in every category. It keeps a $13 price target and Buy rating on the shares.
07:46 EDTWCGOptions expected to be active; UNH AET ANTM CI WCG HUM HNT CNC
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November 18, 2015
09:23 EDTMXIMTowerJazz to acquire Maxim Integrated facility in San Antonio
TowerJazz (TSEM) has signed an agreement with Maxim Integrated (MXIM) to purchase Maxim's 8-inch fabrication facility in San Antonio, Texas. The proposed purchase will expand TowerJazz's current worldwide manufacturing capacity, cost-effectively increasing production by approximately 28K wafers per month. TowerJazz and Maxim expect to close the transaction in January 2016. As part of the transaction, the companies have also signed a long-term supply agreement for TowerJazz to manufacture products for Maxim in the San Antonio facility. The transaction is to be paid with TSEM ordinary shares with a total value of approximately $40M. All of the site's nearly 500 employees will be retained.
08:31 EDTNXPINXP Semiconductors removed from US 1 List at BofA/Merrill
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08:19 EDTMXIMRBC Capital to hold a tour
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08:18 EDTINVNRoth Capital to hold a conference
Roth Capital Tech Corporate Access Day to be held in New York on November 18.
08:14 EDTNXPINXP Semiconductors added to Top Pick list at FBR Capital
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November 17, 2015
10:33 EDTMXIMCiti says Xilinx, not Maxim, likely to be acquired
According to Citi, analog chip maker Maxim Semiconductor (MXIM) probably won't be acquired, despite Bloomberg reports which stated that Texas Instruments (TXN) and Analog Devices (ADI) had held talks about potentially buying the company. The firm sees Xilinx (XLNX) as the only large cap chip maker remaining that has "all of the attributes of a good takeover target." WHAT'S NEW: The only two companies capable of buying Maxim are Texas Instruments and Analog Devices, Citi analyst Christopher Danely wrote in a note to investors today. However, Maxim's valuation is too high for Texas Instruments and the deal would be too big for Analog Devices, the analyst stated. However, Xilinx is a potential takeover target, partly due to its high margins, a size large enough that it could impact an acquirer's profits and its cost cutting opportunities, Danely stated. One potential acquirer of Xilinx is Qualcomm (QCOM), which has suggested that it could be interested in M&A opportunities in the future, the analyst wrote. Despite his belief that Xilinx could be acquired, Danely kept a Neutral rating on the shares. WHAT'S NOTABLE: On October 14, Bloomberg reported that Analog Devices and Maxim were in merger talks. On October 28, the news service reported that Texas Instruments was in talks about buying Maxim. According to Bloomberg, Maxim was working with a bank on a strategic review before it was approached by Analog Devices. Maxim may not want to sell itself unless it receives a large premium, the news service stated. PRICE ACTION: In early trading, Maxim was flat near $38.86 per share, while Xilinx gained 1.5% to $47.83.
09:08 EDTINVNInvenSense enters distribution deals with Honestar, GH Development
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08:54 EDTMXIMMaxim could be bidder for Fairchild, says Citi
Citi analyst Atif Malik views Maxim Integrated (MXIM) as a potential acquirer Fairchild Semiconductor (FCS). Bloomberg on October 13 reported that Fairchild was seeking advice for a potential sale, and listed potential acquirers as STMicroelectronics (STM), Infineon (IFNNY) and ON Semiconductor (ON). Bids from STM and ON seem unlikely, but Infineon and Maxim could be potential acquirers of Fairchild, Malik tells investors in a research note. In a bull case scenario, Fairchild's buyout value could reach $25 per share, the analyst contends. Fairchild closed yesterday at $17.76. Malik's peer at Citi, analyst Christopher Danely, argued today in research note that Maxim Integrated (MXIM) is unlikely to get acquired despite reports of interest from Analog Devices (ADI) and Texas Instruments (TXN). Danely views Xilinx (XLNX) as a potential takeout target, potentially for Qualcomm (QCOM).
08:37 EDTMXIMCiti sees Xilinx, not Maxim, as potential takeout candidate
Citi analyst Christopher Danely says he does not expect Maxim Integrated (MXIM) to get acquired despite reports of interest from Analog Devices (ADI) and Texas Instruments (TXN). Xilinx (XLNX) is the only large-cap semiconductor company left with "all of the attributes of a good takeover target," Danely tells investors in a research note. He believes Xilinx management could be willing sellers at the right price, and points out Qualcomm (QCOM) has a history of doing deals. Xilinx could make a good candidate for Qualcomm, Danely contends.
08:22 EDTFRTJefferies to hold events at NAREIT
Jefferies Company Events being held at NAREIT in Las Vegas on November 17-18.
08:04 EDTWCGStifel to hold a conference
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