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March 26, 2014
10:00 EDTGLW, DVN, GRMN, SCS, LAZ, SIRI, CVA, NXPI, CRR, PENN, CGOn The Fly: Analyst Upgrade Summary
Carlyle Group (CG) upgraded to Buy from Neutral at UBS... Covanta (CVA) upgraded to Outperform from Neutral at RW Baird... Garmin (GRMN) upgraded to Buy from Neutral at Citigroup... Penn National (PENN) upgraded to Outperform from Market Perform at FBR Capital... Sirius XM (SIRI) upgraded to Overweight from Equalweight at Barclays... Devon Energy (DVN) upgraded to Overweight from Equalweight at Capital One... CARBO Ceramics (CRR) upgraded at Sterne Agee... Lazard (LAZ) upgraded to Buy from Neutral at Nomura... Corning (GLW) upgraded to Positive from Neutral at Susquehanna... NXP Semiconductors (NXPI) upgraded to Overweight from Equal Weight at Morgan Stanley... Steelcase (SCS) upgraded to Strong Buy from Outperform at Raymond James.
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November 18, 2015
08:14 EDTNXPINXP Semiconductors added to Top Pick list at FBR Capital
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07:53 EDTSIRISirius XM management to meet with Deutsche Bank
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07:33 EDTLAZLazard upgraded to Strong Buy from Outperform at Raymond James
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07:05 EDTGRMNGarmin announces GAD 27 integrated controller
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November 17, 2015
11:35 EDTCGFinancing backing Carlyle's purchase of Symantec's Veritas pulled, Reuters says
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10:01 EDTSIRIAudi selects Sirius XM Connective Vehicle Services for Audi Connect
Sirius XM (SIRI) and Audi (AUDVF) of America announced that Audi has selected Sirius XM Connected Vehicle Services Inc., a unit of SiriusXM, to power emergency services for the next generation of Audi connect. The new emergency services will be available beginning with the model year 2017 Audi Q7, which goes on sale in January 2016.
09:02 EDTGRMNAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
07:56 EDTGLWUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link
November 16, 2015
16:43 EDTGRMNGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
10:25 EDTNXPIUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
07:04 EDTGRMNGarmin introduces GPS 73 marine handheld
Garmin International Inc., a unit of Garmin Ltd., announced the GPS 73, a new low-cost marine handheld designed for mariners who want a simple, rugged, and reliable navigation solution. This easy-to-use handheld is packed with marine-specific features like man overboard, marine alarms, routing planning, and navigation. New SailAssist has also been added, offering sailing-inspired features like virtual starting line, race countdown times, distance to start line, speed history graph, and tack assist.
07:03 EDTGRMNGarmin says GSX 70 selected by Northrop Grumman for RQ-4 UAS
Garmin International, a unit of Garmin Ltd. (GRMN), announced the selection of the GSX 70, a full-featured solid-state weather radar by Northrop Grumman (NOC) for the U.S. Air Force fleet of RQ-4 Global Hawk unmanned aircraft systems. Equipped to fly at a maximum altitude of 60,000 feet with an endurance of 32+ hours, the Global Hawk is a high-altitude, long-endurance UAS.
November 13, 2015
17:04 EDTNXPI, DVNThird Point gives quarterly update on stakes
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16:40 EDTNXPIAppaloosa gives quarterly update on stakes
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15:04 EDTGRMNLeerink digital health analyst holds analyst/industry conference call
Digital Health Analyst Wardell discusses Fitbit and how many units will it sell in Q4, the Apple Watch and whether it is in a different product category than Fitbit on an Analyst/Industry conference call to be held on November 17 at 12:30 pm.
November 12, 2015
10:05 EDTCGHigh option volume stocks
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10:00 EDTDVNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Angie's List (ANGI) upgraded to Market Perform from Underperform at Raymond James... CGI Group (GIB) upgraded to Buy from Hold at Societe Generale... Devon Energy (DVN) upgraded to Buy from Neutral at Guggenheim... EP Energy (EPE) upgraded to Neutral from Sell at Citi... Franco-Nevada (FNV) upgraded to Buy from Hold at Canaccord... Galena (GALE) upgraded on commercial business divestment at Oppenheimer... KPN (KKPNY) upgraded to Buy from Hold at HSBC... Macy's (M) upgraded to Buy from Neutral at Northcoast... Magic Software (MGIC) upgraded to Overweight from Equal Weight at Barclays... Range Resources (RRC) upgraded on valuation, 2016 outlook at RBC Capital... Raytheon (RTN) upgraded to Buy from Hold at Argus... Trend Micro (TMICY) upgraded to Buy from Neutral at Nomura.
09:59 EDTNXPISterne Agee sees 'great buying opportunity' in NXP pullback
The weakness in NXP Semiconductors (NXPI) following its third quarter results gives investors "a great buying opportunity," research firm Sterne Agee wrote in a note to investors today. NXP Semiconductors is a chip maker that agreed to acquire another player in the space, Freescale (FSL), last March. WHAT'S NEW: Synergies from the Freescale deal could increase NXP's EPS by 31c in 2016 and 92c in 2017, Sterne Agee CRT analyst Douglas Freedman wrote. Moreover, NXP's ability to generate stronger earnings growth than its peers despite a tough demand environment is "impressive," contended the analyst. The company's outperformance and debt deleveraging should cause its stock's multiple to rise, forecast Freedman, who kept a $107 price target and Buy rating on the shares. WHAT'S NOTABLE: NXP Semiconductors was among the chip makers whose stock rose after Apple (AAPL) reported stronger than expected results on October 27. However, Credit Suisse on November 10 cut its estimates for iPhone shipments going forward into 2016, noting that NXP is one of the chip makers that gets 10% or more of its revenue from Apple. PRICE ACTION: In early trading, NXP lost 0.4% to $80.98.
07:03 EDTSIRILiberty Media announces plan to recapitalize into three tracking stock groups
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06:17 EDTDVNDevon Energy upgraded to Buy from Neutral at Guggenheim
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