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Stock Market & Financial Investment News

News Breaks
December 14, 2012
15:16 EDTAVGOAvago falls sharply on Apple supplier order cuts, levels to watch
The shares are down over 7.8% at time of writing, following several other component suppliers to Apple (AAPL) to the downside. Jefferies issued a note earlier today on Apple reducing orders to suppliers. At the current price of $31.03, next support is at the low of the session at $30.51. Resistance is at $31.45.
News For AVGO From The Last 14 Days
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July 6, 2015
18:22 EDTAVGOAMD plummets after PC headwinds result in lower Q2 revenue view
Shares of semiconductor maker AMD (AMD) are sliding after the company reduced its second quarter revenue view. WHAT'S NEW: AMD lowered its Q2 revenue view to down 8% sequentially from a prior view of decreasing 3%, plus or minus 3% that the company gave with its first quarter earnings results back in April. The company attributed the decreased view for revenue to weaker than expected consumer PC demand. Along with its lower Q2 revenue view the chip maker lowered its Q2 non-GAAP gross margin view to approximately 28%, compared to the previous non-GAAP guidance of approximately 32% primarily due to a higher mix of Enterprise, Embedded and Semi-Custom segment sales and lower than anticipated Computing and Graphics segment APU unit volumes due to weaker than expected OEM PC product demand. WHAT'S NOTABLE: Shares of PC related stocks have been struggling recently after several research firms issued cautious views on the group. On May 19, Morgan Stanley said it was more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team at the time said it continued to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. On June 23, JP Morgan issued a cautious note on hard disk drive makers Western Digital (WDC) and Seagate Technology (STX), citing continuing negative PC data. The firm said it saw little evidence that fundamentals in the PC space were improving, citing negative comments on PC demand from HP (HPQ), Avago (AVGO), and Micron (MU) over the last month. More recently, on June 25, chip maker Micron reported third quarter results and current quarter guidance below expectations, citing near term headwinds attributable to PC headwinds. PRICE ACTION: Shares of AMD are down over 14% in after-hours trading to $2.12. OTHERS TO WATCH: Other companies that may be exposed to PC weakness include Microsoft Corporation (MSFT), Intel Corporation (INTC), NVIDIA (NVDA), SanDisk (SNDK), and Apple (AAPL).
June 30, 2015
08:35 EDTAVGOBroadcom risk/reward looks positive, says Bernstein
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June 24, 2015
10:00 EDTAVGOOn The Fly: Analyst Initiation Summary
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07:39 EDTAVGOAvago initiated with a Buy at Argus
Target $163.
June 23, 2015
12:54 EDTAVGOPC concerns weighing on shares of Seagate, Western Digital
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