New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 7, 2014
Sterne Agee events being held at CES 2014 in Las Vegas on January 7-9.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 >>
September 28, 2015
08:52 EDTCYOn The Fly: Pre-market Movers
IN FOCUS: Apple (AAPL) after announcing it set a record by selling more than 13M new iPhone 6s and iPhone 6s Plus models in the first three days after launch of the devices. HIGHER: Media General (MEG), up 22% after Nexstar (NXST) announced a proposal to acquire the company for cash Nexstar shares currently valued at $14.50 per Media General share... Alcoa (AA), up 5.4% after announcing that its board has unanimously approved a plan to separate into two independent, publicly-traded companies - an Upstream company that will operate under the Alcoa name and a new Value-Add company whose name will be announced at a later date... Atmel (ATML), up 7% after Reuters reported that Cypress Semiconductor (CY) is working on a competing bid to Dialog Semiconductor's (DLGNF) takeover offer... J.C. Penney (JCP), up 3% after Sterne Agee CRT upgraded the stock to Buy from Neutral after meeting with the company's new CEO. DOWN AFTER EARNINGS: Cal-Maine Foods (CALM), down 8%. ALSO LOWER: Verastem (VSTM), down 50% after stopping enrollment in the Phase 2 study of VS-6063 for patients with mesothelioma for futility after a Data Safety Monitoring Board review of a pre-planned interim analysis... Fiat Chrysler (FCAU), down 3.7% after the Detroit Free Press said some local UAW workers rejected a four-year tentative pact between the United Auto Workers and the company... Williams (WMB), down 3% after Energy Transfer Equity (ETE) announced a business combination transaction valued at approximately $37.7B, including the assumption of debt and other liabilities. Under the deal, an affiliate of ETE, will acquire Williams at an implied current price of $43.50 per Williams share.
07:49 EDTMUMicron price target lowered to $20 from $25 at UBS
Subscribe for More Information
07:41 EDTAVGOAvago fundamentals have improved, says Pacific Crest
After traveling to Asia, Pacific Crest believes that demand for Avago's (AVGO) products remains healthy ,given the company's low exposure to China and strong demand for Apple's (AAPL) new iPhone. The firm reiterates a $180 price target and Overweight rating on the shares.
05:31 EDTCYCypress working on competing offer for Atmel, Reuters reports
Cypress Semiconductor (CY) is working on a bid to acquire Atmel (ATML), who agreed earlier this month to be taken over by Dialog Semiconductor (DLGNF), Reuters reported last night, citing people familiar with the matter. Cypress is working with bankers and has told Atmel it believes its offer will be superior to Dialog's cash-and-stock deal, which was worth $4.6B, Reuters adds. Reference Link
September 27, 2015
16:24 EDTQCOMQualcomm commits to invest $150M in Indian startups
Subscribe for More Information
September 25, 2015
13:36 EDTQCOMQualcomm volatility low as shares trend lower
Qualcomm (QCOM) current 30-day call option implied volatility is at 26, compared to a one-month ago level of 38, suggesting decreasing price movement for the chipmaker that appear poised to obtain more revenue from Apple's (AAPL) iPhone 6S devices.
11:25 EDTQCOM, AVGOCirrus leads iPhone suppliers higher as analysts dissect 6S
Cirrus Logic (CRUS), Skyworks (SWKS) and Qorvo (QRVO) are among the chipmakers that appear poised to obtain more revenue from Apple's (AAPL) iPhone 6S devices than from the previous generation of the market-leading smartphone. Research firms issued notes today based on their analysis of "teardowns" of the new phones after they went on sale for the first time, beginning in Australia. TEARDOWNS: Apple's common practice when rolling out its newest iPhone models is for Australia to be its first launch market. The unboxing of iPhones when they become available for sale for the first time anywhere in the world is a much anticipated event among the tech giant's fans, as well as by Apple-focused blogs and Wall Street analysts who follow the company. Websites like iFixit have become well known for their "teardowns" of the devices, where they purchase, take apart and analyze the way in which the device is made and how it differs from previous models. These teardowns are closely watched by analysts and can sometimes be catalysts for the stocks of iPhone component suppliers. CIRRUS: Barclays analyst Blayne Curtis says teardowns of Apple's iPhone 6S indicate Cirrus Logic secured both a smart codec and boosted amp win in the new phone. The company's content in each phone is likely towards the upper end of his $3.50-$4.00 estimate, Curtis tells investors, noting that he views this as better than expected. Curtis thinks the 6S content, coupled with the "several new growth drivers" Cirrus outlined at yesterday's technology day, could reverse the negative sentiment on the stock. He keeps an Overweight rating on the name with a $39 price target. OTHER WINNERS AND LOSERS: Skyworks and Qorvo saw their content rise 22% and 25% respectively, Curtis estimated. NXP Semiconductors (NXPI) is continuing to supply the NFC and Secure Element chips for the 6S devices, but is no longer providing the sensor hub, the analyst reported. The company will lose about 50c per iPhone as a result of this development, but it did know that it would no longer be providing the hub before it provided its guidance in July, according to Curtis. STMicroelectronics (STM) is no longer providing the secure MCU for the iPhone 6S, Curtis added. WHAT'S NOTABLE: Other companies that are supplying iPhone 6S components include Qualcomm (QCOM), Texas Instruments (TXN), and Avago (AVGO), iFixit reported. After conducting checks, Craig-Hallum analyst Anthony Stoss estimated that Skyworks will obtain about $6.50 of revenue per iPhone, up from about $5.50 previously, while Qorvo's revenue per device will rise to $6.25 from $5.75 and Avago will see its revenue per device increase to about $6.75 from about $6.50, Stoss believes. The firm kept Buy ratings on Skyworks, Avago, and Qorvo. PRICE ACTION: In morning trading, Cirrus shares jumped $4.36, or 16%, to $31.49, Skyworks added about 3% and Qorvo rose 4%. Meanwhile, NXP gained about 2% and STMicroelectronics advanced 2.5%.
09:48 EDTQCOM, AVGOApple iPhone 6S Plus teardown reveals chip suppliers, iFixit reports
Subscribe for More Information
09:47 EDTAVGOiPhone 6S teardown positive for Skyworks, Qorvo, says Craig-Hallum
Craig-Hallum analyst Anthony Stoss says Apple (AAPL) iPhone 6S teardowns indicate content increases for Skyworks (SWKS), Qorvo (QRVO) and Avago (AVGO). Ross estimates Skyworks' content in the phone rose to $6.50 versus $5.50 in the first versions of iPhone 6, Qorvo's content rose to $6.25 from $5.75 and Avago's content rose to $6.75 from $6.50. He believes RF content is increasing and reiterates Buy ratings on all three names.
08:02 EDTGLWCorning coverage assumed with a Neutral at Goldman
Subscribe for More Information
07:38 EDTMUMicron price target lowered to $20 from $23 at Sterne Agee CRT
Sterne Agee CRT says that demand for Micron's products "remains sub-seasonal," creating risks for the firm's near-term estimates. However, the firm keeps a positive longer term view of the company, citing what it sees as potential growth catalysts from its renewed Inotera deal and the ramp of its new products. It keeps a Buy rating on the shares.
07:22 EDTCOSTCostco October weekly volatility elevated into Q4 and outlook
Subscribe for More Information
September 24, 2015
12:39 EDTMUMicron to benefit from Samsung DRAM capex reduction, says Stifel
Stifel said published reports indicate Samsung plans to cut investment in semiconductors by up to 20% next year, with most of the cuts in DRAM. The firm expects other DRAM manufacturers to act rationally, which should help stabilize DRAM prices and keep supply/demand in balance. Stifel views the news as a positive for Micron and reiterates its Buy rating.
11:15 EDTNVDAAnalyst sees $55,000 car from Apple as soon as 2019
Apple (AAPL) could introduce a car by as soon as 2019, but assuming an average selling price of $55,000 and 200,000 shipments, the contribution to the tech giant's earnings in that year is probably not enough to "excite" investors, said the research team at Jefferies this morning. However, a car would give the tech giant some "much needed" diversification away from the iPhone and would be positive for the broader tech space, the firm added. RIPE FOR DISRUPTION: Jefferies analysts Sundeep Bajikar, Mark Lipacis and their team say their analysis indicates the automobile industry is "ripe for disruption" and that Apple is well positioned to introduce a car, potentially as early as 2019. A car could add 32c to Apple's earnings per share in FY19 under a best-case scenario, Bajikar tells investors. He assumes a $55,000 average selling price for an Apple Car and an operating margin of 20%, over 1,000 basis points higher than the Street's 2019 margin estimate for electric carmaker Tesla (TSLA). Investors are likely to find the assumptions "highly aggressive," the analyst cautions. Meanwhile, the potential earnings impact is probably not big enough for Apple investors to get excited and earnings contributions from a vehicle may not become meaningful before iPhone decelerates, the analysts argue. However, the firm said it could get more constructive on Apple shares if diversification in earnings were to drive less iPhone risk. Bajikar and Lipacis keep a Hold rating on the iPhone maker with a $126 price target. TOP CHIP PICKS: Efforts in the car market from tech heavyweights Apple and Google (GOOGL) will lead the industry to design and sell more intelligent vehicles, accelerating the growth of semiconductors for automobiles above current forecasts, contend Jefferies' analysts in a separate note to investors this morning. The analysts lay out their top picks among automotive semiconductor suppliers, saying the pending merger of NXP Semiconductors (NXPI) and Freescale (FSL) will create the world's biggest automotive semi company, adding that growth in microcontroller content and networking applications will benefit that combined giant. NVIDIA's (NVDA) automotive sales have grown the fastest since the end of the 2012 fiscal year among the companies the firm follows, while Maxim Integrated (MXIM) had the second fastest growth in that time frame, the analysts noted in naming those two as their other top picks in the space. Lipacis and Bajikar identified Analog Devices (ADI), Microchip (MCHP) and Linear Technology (LLTC) as other notable beneficiaries from the expected growth of semiconductor content in automobiles. PRICE ACTION: Amid broad weakness in the market, Apple shares are down 1.5% to $112.56. Meanwhile, the Philadelphia Stock Exchange Semiconductor Sector index (SOX) is down 2.4% this morning.
08:23 EDTMUMicron target cut to $17, remain cautious on memory, says Morgan Stanley
Subscribe for More Information
06:50 EDTCOSTAmerican Express price target lowered to $70 from $85 at Jefferies
Jefferies analyst John Hecht says that even with the recent selloff, shares of American Express do not offer "compelling rewards" at current levels. Hecht believes AmEx is nearing saturation in its core demographic, the highly-affluent consumer, and views the Costco (COST) loss as a "significant challenge to overcome." American Express remains the industry leader in terms of rewards, but the gap to competitors has narrowed, Hecht tells investors in a research note. The company faces "several discrete headwinds" over the coming quarters, the analyst concludes. He cut his price target for AmEx shares to $70 from $85 and keeps a Hold rating on the name. The credit card provider closed yesterday down 8c to $75.63. Hecht has Buy ratings on card peers Discover (DFS) and Synchrony Financial (SYF).
September 23, 2015
16:00 EDTMUOptions Update; September 23, 2015
iPath S&P 500 VIX Short-Term Futures down 53c to 23.81 Option volume leaders: AAPL NFLX BAC FB BABA DOW RIG MU FCX PBR XOM JPM
10:00 EDTLPLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Baytex Energy (BTE) downgraded to Sector Performer from Outperformer at CIBC... CarMax (KMX) downgraded to Perform from Outperform at Oppenheimer... Cytec Industries (CYT) downgraded to Hold from Buy at Jefferies... LG Display (LPL) downgraded to Underperform from Neutral at BofA/Merrill... Magna (MGA) downgraded to Sector Performer from Outperformer at CIBC... Norilsk Nickel (NILSY) downgraded to Neutral from Overweight at JPMorgan... Sherwin-Williams (SHW) downgraded to Neutral from Buy at Longbow... Volkswagen (VLKAY) downgraded to Hold from Buy at Deutsche Bank.
08:19 EDTLPLLG Display downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill downgraded LG Display to Underperform following checks that indicate weaker than normal trends in second half sales volumes and blended ASPs.
05:10 EDTGLWStocks with implied volatility movement; GLW WMB
Subscribe for More Information
1 | 2 | 3 | 4 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use