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Stock Market & Financial Investment News

News Breaks
February 7, 2013
15:16 EDTXL, HAS, RGS, CFN, MCHP, ATVICompanies reporting After the Market Close on Thursday, February 7
Notable companies reporting after the closing bell on Thursday include Activision Blizzard (ATVI), CareFusion (CFN), Hasbro (HAS), Microchip Technology (MCHP), Republic Services (RSG), and XL Group (XL).
News For ATVI;CFN;HAS;MCHP;RGS;XL From The Last 14 Days
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August 3, 2015
16:26 EDTATVIDemand Media appoints Activision's Voong as Chief Accounting Officer
Demand Media (DMD) announced that it has named Wendy Voong as its Chief Accounting Officer. Voong most recently served as senior director, North America accounting and reporting for Activision (ATVI).
16:14 EDTXLXL Group reports Q2 operating EPS 84c, consensus 80c
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14:59 EDTXL, MCHPNotable companies reporting after market close
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12:38 EDTATVIActivision Blizzard management to meet with Jefferies
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08:10 EDTMCHPMicrel to host special shareholder meeting
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July 31, 2015
10:42 EDTATVIElectronic Arts drops despite beat and raise results
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July 29, 2015
18:06 EDTMCHPS&P announces changes to the S&P 600 index
S&P Dow Jones Indices will make the following changes to the S&P SmallCap 600: Inogen (INGN) will replace Micrel (MCRL) in the S&P SmallCap 600 after the close of trading on Monday, August 3. S&P 500 constituent Microchip Technology (MCHP) is acquiring Micrel in a transaction expected to be completed on or about that date pending final approvals. Express (EXPR) will replace Associated Estates Realty (AEC) in the S&P SmallCap 600 after the close of trading on Wednesday, August 5. Brookfield Asset Management (BAM) is acquiring Associated Estates Realty in a transaction expected to be completed on or about that date pending final approvals.
July 22, 2015
14:51 EDTMCHPEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
12:35 EDTMCHPAnalog chip makers fall after Linear cites weak end market demand
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July 21, 2015
10:01 EDTHASOn The Fly: Analyst Downgrade Summary
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06:58 EDTHASHasbro downgraded to Market Perform from Outperform at Wells Fargo
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06:41 EDTHASHasbro downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Hasbro to Neutral saying shares are trading at peak multiples. Piper views the stock as fairly valued based on current expectations following the company's Q2 results. It raised its price target for shares to $85 from $79.
06:33 EDTHASHasbro downgraded to Market Perform from Outperform at BMO Capital
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July 20, 2015
16:22 EDTHASOn The Fly: Top stock stories for Monday
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10:43 EDTATVIZillow slides to 52-week low after Barclays cuts to sell
The shares of Zillow (Z) are falling after Barclays downgraded the stock to Underweight, the firm's equivalent of a "Sell" rating, citing increased competition in the "local" segment of the Internet market. Zillow's websites advertise homes that are up for sale. WHAT'S NEW: In a note to investors earlier today, Barclays analyst Christopher Merwin wrote that, heading into second quarter results, he does not recommend Internet stocks that have been "challenged" and have relatively "cheap" valuations. These valuations are only "cheap" based on consensus estimates that are probably too high, the analyst believes. Based on that criteria, he downgraded Zillow to Underweight from Equal Weight. He also used the same criteria to downgrade Yelp (YELP), whose website features user reviews of local businesses, to Equal Weight from Overweight. Both companies are facing an "atypical level" of competition, driven by a favorable venture capital funding environment, Merwin indicated. The competition has driven down the companies' multiples, he believes. WHAT'S NOTABLE: Merwin recommended that investors buy the shares of small and mid cap Internet companies whose estimates are just beginning to be revised upwards by analysts. He identified IAC (IACI), which owns several dating websites, as one stock in this category. IAC should benefit from increased monetization of its popular Tinder dating app and the stabilization of its core dating websites, the analyst contended. Also poised for further positive estimate revisions are video game makers Electronic Arts (EA) and Activision Blizzard (ATVI), Merwin believes. The companies' increased revenue from digital games should mitigate the risk they face from slowing software growth as sales of new consoles slow, the analyst believes. He noted that 50% of both companies' revenue are now generated from digital games and identified Electronic Arts and Activision Blizzard as two of his top ideas. PRICE ACTION: In morning trading, Zillow fell 5% to $79 after hitting a 52-week low of $76.82 earlier in the session. Meanwhile, Yelp slid 1.6% to $34.40, IAC fell fractionally to $83.83, Electronic Arts added about 1% to $74.15 and activision Blizzard rose 0.5% to $25.93.
06:39 EDTHASHasbro reports Q2 Boys revenue up 1% to $340.4M
Q2 Boys revenue driven by gains in nerf brands, as well as shipments in support of Jurassic World and growth in Marvel and Star Wars products. Reports Q2 Girls revenue down 22% to $127.5M, with Furby the leading driver of the decline. Reports Q2 Games revenue down 6% to $211.6M. Reports Q2 Preschool revenue up 14% to $118.1M.
06:37 EDTHASHasbro reports Q2 US and Canada revenue up 1% to $385.2M
Reports Q2 International revenue $362.8M. Reports Q2 Entertainment and Licensing revenue $47.6M.
06:33 EDTHASHasbro August volatility elevated into Q2 and outlook
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06:31 EDTHASHasbro reports Q2 EPS 33c, consensus 29c
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05:44 EDTATVIZillow Group downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Christopher Merwin downgraded Zillow Group (Z) to Underweight saying competition is increasing in local. Underweight is Barclays' equivalent to a sell rating. The real estate and rental marketplace owner closed Friday at $83.27. Merwin believes consensus growth estimates are likely too high heading into Zillow's Q2 results and cut his price target for the stock to $70 from $90. The analyst this morning also downgraded Yelp (YELP) to Equal Weight for similar reasons. His top U.S. Internet picks heading into Q2 earnings season are IAC (IACI), Activision Blizzard (ATVI) and Electronic Arts (EA). Merwin thinks Activision and Electronic Arts will receive more than half of their 2015 revenue from digital.
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