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Stock Market & Financial Investment News

News Breaks
January 7, 2014
04:55 EDTAVGO, AVGO, AVGO, LPL, LPL, LPL, GLW, GLW, GLW, QCOM, QCOM, QCOM, INVN, INVN, INVN, MU, MU, MU, DIOD, DIOD, DIOD, SYNA, SYNA, SYNA, CY, CY, CY, ONNN, ONNN, ONNN, NVDA, NVDA, NVDA, COST, COST, COSTSterne Agee to hold events at CES 2014
Sterne Agee events being held at CES 2014 in Las Vegas on January 7-9.
News For AVGO;NVDA;ONNN;CY;SYNA;DIOD;MU;INVN;QCOM;GLW;LPL;COST From The Last 14 Days
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October 10, 2014
11:13 EDTMUMicrochip not relevant to DRAM, NAND, says Summit Research
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10:58 EDTMUMicron falls with peers, levels to watch
The shares are down more than 7.5% to $28.30 at time of writing, just off the lows of the session at $27.59 which is now support. Resistance is at $28.78.
10:29 EDTAVGO, ONNN, MUMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
10:20 EDTAVGO, MUSemiconductors defended at Sterne Agee
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07:53 EDTONNNON Semiconductor removed from Top Picks list at FBR Capital
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October 9, 2014
09:41 EDTCOSTBofA/Merrill retail analysts hold an analyst/industry conference call
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October 8, 2014
17:15 EDTCOSTCostco stock still a 'buy', Barron's says
Costco shares aren't cheap but are still a "buy," Barron's argues in its 'Barron's Take' column. Quarterly results should continue to drive shares higher, the paper adds. Reference Link
15:58 EDTCOSTCostco price target raised to $140 from $130 at RW Baird
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12:25 EDTCOSTOn The Fly: Midday Wrap
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11:42 EDTMUStocks with call strike movement; AA MU
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11:23 EDTCOSTCostco sees FY15 CapEx $2.5B-$2.7B
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11:14 EDTCOSTCostco expects to open 31 new warehouses and relocate 4 locations in FY15
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11:10 EDTCOSTCostco reports September SSS up 4%, September revenue $10.57B
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10:38 EDTCYHigh option volume stocks
High option volume stocks: FRAN RMTI ACM CY CLNY SMH BEAV SIG CTB DUG SHLD
10:00 EDTMUOn The Fly: Analyst Initiation Summary
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09:20 EDTCOSTOn The Fly: Pre-market Movers
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08:38 EDTCYCypress Semiconductor 2015 results could beat expectations, says Sterne Agee
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08:20 EDTQCOMQualcomm opportunity at Xiaomi almost rivals iPhone, says FBR Capital
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07:43 EDTMUMicron initiated with a Neutral at Ladenburg
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05:21 EDTCOSTCostco reports Q4 EPS $1.58, consensus $1.52
Reports Q4 revenue $34.75B, consensus $35.47B. Reports Q4 SSS up 6%. Reports Q4 SSS, excluding negative impacts from gasoline price deflation and foreign exchange, up 7%.
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