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Stock Market & Financial Investment News

News Breaks
January 15, 2014
10:00 EDTLPI, WDC, SUSP, RHI, LAZ, FMC, CMCSA, MWV, TER, STO, PRI, INTC, EXR, FTNT, XLNX, SYA, SNX, PCG, HTGC, DKSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Comcast (CMCSA) upgraded to Overweight from Equal Weight at Morgan Stanley... Dick's Sporting (DKS) upgraded to Outperform from Neutral at Credit Suisse... Extra Space Storage (EXR) upgraded to Buy from Hold at Cantor... FMC Corporation (FMC) upgraded to Buy from Neutral at Longbow... Hercules Technology (HTGC) upgraded to Buy from Hold at Wunderlich... Intel (INTC) upgraded to Outperform from Market Perform at BMO Capital... Lazard (LAZ) upgraded to Strong Buy from Outperform at Raymond James... PG&E (PCG) upgraded to Buy from Fair Value at CRT Capital... Primerica (PRI) upgraded to Strong Buy from Outperform at Raymond James... Robert Half (RHI) upgraded to Buy from Neutral at SunTrust... SYNNEX (SNX) upgraded to Buy from Neutral at Citigroup... Statoil (STO) upgraded to Neutral from Reduce at Nomura... Susser Petroleum Partners (SUSP) upgraded to Outperform from Neutral at RW Baird... Symetra Financial (SYA) upgraded to Market Perform from Underperform at Raymond James... Teradyne (TER) upgraded to Outperform from Sector Perform at Pacific Crest... Western Digital (WDC) upgraded to Outperform from Sector Perform at Pacific Crest... Xilinx (XLNX) upgraded to Overweight from Equal Weight at Barclays... MeadWestvaco (MWV) upgraded to Buy from Neutral at BofA/Merrill... Laredo Petroleum (LPI) upgraded to Accumulate from Hold at Tudor Pickering... Fortinet (FTNT) upgraded to Outperform from Neutral at Wedbush.
News For CMCSA;DKS;EXR;FMC;HTGC;INTC;LAZ;PCG;PRI;RHI;SNX;STO;SUSP;SYA;TER;WDC;XLNX;MWV;LPI;FTNT From The Last 14 Days
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July 23, 2015
05:59 EDTCMCSAEU sends Statement of Objections to Sky, U.S. film studios
The European Commission has sent a Statement of Objections to Sky UK (SKYAY) and six major U.S. film studios: Disney (DIS), NBCUniversal (CMCSA), Paramount Pictures (VIA), Sony (SNE), Twentieth Century Fox (FOXA) and Warner Bros (TWX). The Commission takes the preliminary view that each of the six studios and Sky UK have bilaterally agreed to put in place contractual restrictions that prevent Sky UK from allowing EU consumers located elsewhere to access, via satellite or online, pay-TV services available in the UK and Ireland. Without these restrictions, Sky UK would be free to decide on commercial grounds whether to sell its pay-TV services to such consumers requesting access to its services, taking into account the regulatory framework including, as regards online pay-TV services, the relevant national copyright laws. If the Commission's preliminary position were to be confirmed, each of the companies would have breached EU competition rules prohibiting anti-competitive agreements. The sending of a Statement of Objections does not prejudge the outcome of the investigation. These antitrust investigations focus on contractual restrictions on passive sales outside the licensed territory in agreements between studios and broadcasters.
05:27 EDTFTNTFortinet upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Sterling Auty upgraded Fortinet to Overweight saying the company's "very impressive" June quarter results indicate its growth investments are paying off. The acceleration in billings should lead Fortinet to post 43% year-over-year growth in free cash flow, Auty tells investors. He raised his price target for the stock to $54 from $40.
July 22, 2015
19:02 EDTFTNT, XLNXOn The Fly: After Hours Movers
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16:35 EDTFTNTFortinet sees Q3 billings $285M-$295M
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16:34 EDTFTNTFortinet sees FY15 adjusted EPS 51c-52c, consensus 51c
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16:32 EDTFTNTFortinet sees Q3 adjusted EPS roughly 12c, consensus 14c
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16:27 EDTXLNXXilinx sees Q2 revenue down 2%-6% sequentially, consensus $576.13M
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16:25 EDTXLNXXilinx reports Q1 EPS 55c, consensus 54c
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16:22 EDTFTNTFortinet hits fresh life high after results
Shares were last at $45.70, hitting a fresh life high. High probability of range expansion with a move to $47.50 to $50 area as next objectives. Support is at the prior high at $44.12.
16:17 EDTFTNTFortinet reports Q2 adjusted EPS 11c, consensus 9c
Reports Q2 revenue $239.79M, consensus $227.74M.
15:26 EDTCMCSANotable companies reporting before tomorrow's open
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15:26 EDTFTNT, XLNXNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
14:51 EDTINTCEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
12:35 EDTXLNXAnalog chip makers fall after Linear cites weak end market demand
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11:30 EDTSNXNew Age Electronics announces distribution agreement with KEF
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07:45 EDTCMCSAComcast July weekly volatility elevated into Q2 and outlook
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07:15 EDTXLNXXilinx July weekly volatility elevated into Q2 and outlook
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06:15 EDTINTCGoogle's updated Glass to be foldable, more weather-resistant, 9to5Google says
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July 21, 2015
16:24 EDTPRIPrimerica says middle-income families to be harmed if DOL's proposal is enacted
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July 20, 2015
09:34 EDTINTCActive equity options trading on open
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