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Stock Market & Financial Investment News

News For BAC;CLF;C;DELL;AMZN;INTC;HPQ From The Last 14 Days
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June 26, 2015
10:00 EDTAMZNOn The Fly: Analyst Initiation Summary
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09:41 EDTINTCIntel falls after weak Micron results and outlook
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09:36 EDTINTCActive equity options trading on open
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08:24 EDTAMZNEtsy price target lowered to $9 from $13 at Wedbush
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07:28 EDTCKKR-backed Coffee Day plans $181M IPO in India, Bloomberg reports
Coffee Day Enterprises, which includes KKR (KKR) among its investors, plans to raise as much as $181M from an initial share sale in India, Bloomberg reports. Kotak Mahindra Capital, Citi (C), and Morgan Stanley (MS) are among the managers to the planned sale, the report says. Reference Link
07:14 EDTINTCIntel estimates lowered following Micon report at Jefferies
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06:38 EDTCCiti plans to combine retail banking, mortgage operations, Reuters says
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06:17 EDTAMZNConcerns over AWS pricing overblown, says Piper Jaffray
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June 25, 2015
18:32 EDTAMZNAmazon establishes $100M fund for voice technology
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17:56 EDTHPQ, INTCMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
16:49 EDTAMZNAmazon.com initiated with a Buy at Mizuho
Target $498.
16:00 EDTBACOptions Update; June 25, 2015
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15:04 EDTBACNeuberger Berman buys management of PE fund of funds from BofA
Neuberger Berman announced that it has entered into an agreement with Merrill Lynch Alternative Investments, the alternative investment business of Bank of America whereby Neuberger Berman will acquire the management rights to certain Merrill Lynch traditional non-registered and 40-Act-registered private equity fund of funds. Merrill Lynch selected Neuberger Berman following an extensive due diligence process focused on private equity investment expertise, 40-Act capabilities and dedication to client service. Key private equity professionals from Merrill Lynch will be joining Neuberger Berman concurrent with the transaction. Terms of the deal are undisclosed. The transaction is expected to close in August.
13:31 EDTHPQWi-LAN unit enters into license agreement with Acuity Brands
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12:59 EDTAMZNOptions with increasing implied volatility
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10:11 EDTCBrooks Brothers, Citi announce exclusive credit card relationship
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10:00 EDTAMZNOn The Fly: Analyst Downgrade Summary
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09:34 EDTBAC, INTC, AMZNActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
09:04 EDTAMZNAmazon opens Alexa Voice Service to third party hardware makers
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07:17 EDTDELLRed Hat to hold a summit
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