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News Breaks
November 29, 2012
10:20 EDTBRCM, INTCBroadcom climbs, Intel falls after Citi changes Q4 estimates
Broadcom (BRCM) is advancing and Intel (INTC) is declining after Citigroup was upbeat about the former company and downbeat about the latter one in a note to investors earlier today. Citigroup analyst Glen Yeung raised his fourth quarter revenue estimate on Broadcom, and he expects the company to increase its guidance at its Analyst Day on December 6. The company is benefiting from greater availability of Apple's (AAPL) iPhone 5, and strong sales of Samsung devices, explained Yeung. Furthermore, Cisco's (CSCO) outlook earlier this month was "somewhat optimistic," said Yeung, who views Broadcom's fourth quarter guidance as conservative. The analyst maintained a Buy rating on the stock. Conversely, Yeung reduced his price target on Intel to $21 from $23, and believes that the company is likely to report lower than expected fourth quarter results. Data indicates that computer notebook sales have been weak this quarter, explained the analyst, who maintained a Neutral rating on the shares. In early trading, Broadcom gained 0.65% to $32.37 and Intel fell 1.62% to $19.76.
News For BRCM;INTC From The Last 14 Days
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June 29, 2015
11:03 EDTINTCAnalyst says sell Qualcomm ahead of predicted price cuts
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06:08 EDTINTCIntel estimates lowered at Pacific Crest
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June 26, 2015
16:16 EDTINTCOn The Fly: Top stock stories for Friday
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16:00 EDTINTCOptions Update; June 26, 2015
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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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07:14 EDTINTCIntel estimates lowered following Micon report at Jefferies
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June 25, 2015
17:56 EDTINTCMicron 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).
09:34 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
08:05 EDTBRCMBroadcom signs strategic collaborations in China
Broadcom announced a series of Memorandum of Understanding agreements with several Chinese companies, including H3C for collaboration on the integration of cloud and Internet services, Inspur for collaboration to drive continued innovation in Ultra HD set-top box offerings for China, and StarTimes for joint design and development of low cost set-top boxes and high end Ultra HD gateways.
June 24, 2015
17:57 EDTINTCWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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11:01 EDTINTCHoneywell and Intel to collaborate for Internet of Things security
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09:35 EDTINTCActive equity options trading on open
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June 23, 2015
12:54 EDTINTCPC concerns weighing on shares of Seagate, Western Digital
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07:41 EDTINTCRed Hat to hold a summit
Red Hat Summit 2015 is being held in Boston on June 23-26 with webcasted company presentations to begin on June 23 at 4 pm; not all presentations may be webcasted. Webcast Link
06:05 EDTINTCIntel pushing into SSD market and hope to surpass Samsung in 2016, DigiTimes says
Intel (INTC) is looking to push into the SSD market with its newest 750 series SSDs with technology able to enhance the transmission speed, reports DigiTimes. According to sources from the upstream supply chain, the company is also offering price cuts on its existing products in order to narrow its gap with the largest vendor Samsung (SSNLF). Sources also expect Intel to draw near to Samsung in 2H15 and may even have a chance to surpass Samsung in 2016. Reference Link
06:05 EDTINTCNo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
June 22, 2015
09:40 EDTINTCActive equity options trading on open
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08:35 EDTINTCKopin divests interest in Recon Instruments
Kopin (KOPN) said it had divested its equity interest in Recon Instruments as part of Intel Corporationís (INTC) acquisition of Recon. Kopin anticipates that it will receive approximately $6M in cash proceeds for its equity interest, subject to certain closing conditions including a working capital adjustment.
June 21, 2015
16:32 EDTINTCAMD considers spinoff or break-up, Reuters says
AMD (AMD) has hired a consulting firm to help it review a potential split or spinoff, Reuters reported late Friday, citing three people familiar with the matter. Reuters notes that AMD may be seeking to better compete with Intel (INTC), and sources said one option being considered is to separate AMD's server business from its graphics and licensing arm. Though the company had previously decided against such an option, sources noted that CEO Lisa Su believes the move is worth reconsidering. Reference Link
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