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News Breaks
April 19, 2013
10:04 EDTCOH, HMSY, FCS, LEG, VAR, PAY, TXN, MHR, COT, ALB, HUBGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Albermarle (ALB) downgraded to Neutral from Buy at SunTrust... Coach (COH) downgraded to Neutral from Outperform at RW Baird... Cott Corp. (COT) downgraded to Neutral from Buy at UBS... Magnum Hunter (MHR) downgraded to Neutral from Buy at UBS... Texas Instruments (TXN) downgraded to Market Perform from Outperform at Raymond James... Varian Medical (VAR) downgraded to Sell from Neutral at Citigroup... VeriFone (PAY) downgraded to Neutral from Buy at Compass Point... Wolverine World Wide (WWW) downgraded to Neutral from Outperform at Credit Suisse... Leggett & Platt (LEG) downgraded to Neutral from Buy at Monness Crespi... Coach (COH) downgraded to Neutral from Outperform at RW Baird... VeriFone (PAY) downgraded at Compass Point... Fairchild Semiconductor (FCS) downgraded to Neutral from Overweight at JPMorgan... Texas Instruments (TXN) downgraded at Raymond James... Hub Group (HUBG) downgraded to Equal Weight from Overweight at Stephens... HMS Holdings (HMSY) downgraded to Equal Weight from Overweight at First Analysis.
News For COH;ALB;COT;MHR;TXN;PAY;VAR;LEG;FCS;HMSY;HUBG From The Last 14 Days
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October 20, 2014
16:32 EDTTXNTexas Instruments reports Q3 inventory days 108
consistent with the company's model of 105-115 days.
16:31 EDTTXNTexas Instruments reports Q3 gross margin 58.4%
16:31 EDTTXNTexas Instruments sees Q4 EPS 64c-74c, consensus 63c
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16:30 EDTTXNTexas Instruments reports Q3 EPS 76c, consensus 71c
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15:30 EDTTXNNotable companies reporting after market close
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14:46 EDTTXNTexas Instruments October weekly 44.5 straddle priced for 3.6% move into Q3
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14:29 EDTTXNEarnings Preview: Texas Instruments down 9% over last three months
Semiconductor maker Texas Instruments (TXN) is expected to report third quarter earnings after the close on Monday, October 20, with a conference call scheduled for 5:30 pm ET. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $3.46B. The consensus range is 66c-74c for EPS on revenue of $3.44B-$3.5B, according to First Call. Along with its last earnings report, Texas Instruments guided to Q3 EPS of 66c-76c on revenue of $3.31B-$3.59B. LAST QUARTER: On July 21, Texas Instruments reported second quarter EPS of 62c, which was higher than analysts' consensus of 59c. The company's revenue of $3.29B exceeded analysts' expectation of $3.27B. Texas Instruments noted that the restructuring changes which occurred in Q2 are positioned to be nil in Q3 and noted that it anticipated utilization in Q3 to remain consistent with Q2 levels. NEWS: On September 18, Texas Instruments increased its quarterly dividend by 13% to 34c. WHAT'S NOTABLE: After the close on October 9, Microchip (MCHP), which develops microcontroller and analog semiconductors, said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future." STREET RESEARCH: Analysts were fairly quiet on Texas Instruments during the quarter. The day after the company issued its Q2 earnings report, Sterne Agee believed that Texas Instruments' commentary on 4G telecom, auto and industrial strength should be positive for Spansion (CODE). RBC Capital noted on the same day that Texas Instruments had "strong" Q2 results, particularly in its execution, while its operating margin leverage was "impressive. The firm maintained a $57 price target and Outperform rating on the stock. On July 24, Tigress Financial upgraded Texas Instruments to Neutral from Underperform. PRICE ACTION: Over the last three months, Texas Instruments' shares are down about 9%. Since October 10, the day after Microchip's warning on the industry correction it believes has begun, Texas Instruments shares are down over 3%. In afternoon trading before tonight's report, Texas Instruments was up 1.7% to $44.41.
12:28 EDTPAYNCR Corp. plummets after guidance lowered
Shares of payment solutions company NCR Corp. (NCR) are sinking after the firm’s third quarter forecasts missed analysts’ consensus estimates and it lowered its outlook for fiscal 2014. WHAT'S NEW: This morning, NCR Corp. forecast Q3 EPS of 67c and revenue of $1.647B, below analysts' consensus estimates of 71c and $1.66B, respectively. Q3 free cash flow is seen at $132M, which includes the previously announced recovery of $93M related to the Fox River environmental matter. The company cited a challenging retail market as well as difficult global macroeconomic conditions, including foreign currency headwinds, for the weak outlook. WHAT'S NOTABLE: NCR Corp. lowered its FY14 EPS view to $2.60-$2.70 from $3.00-$3.10, compared to consensus of $3.00. It also cut its FY14 revenue outlook to $6.575B- $6.625B from $6.75B-$6.85B, versus consensus of $6.74B. The company said, “While we are disappointed by these results, our Financial Services business remains a bright spot, Q3 free cash flow improvement was strong, and our previously announced restructuring program is on track to deliver annual run-rate savings of approximately $90M by 2016. While we continue to be faced with challenging and uncertain market dynamics, we remain confident in the actions we are taking to address these challenges, including strengthening our Retail Solutions team and talent, as well as utilizing our restructuring program to allocate more resources to our highest growth, highest margin opportunities to drive long-term profitable growth.” PRICE ACTION: In afternoon trading, NCR Corp. fell $6.43, or about 21.5%, to $23.45 on nearly five times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $23.32. Including today's pull back, the shares have lost approximately 41% over the past 12 months. OTHERS TO WATCH: Other companies in the payment solutions business include VeriFone Systems (PAY) and Diebold (DBD).
12:10 EDTTXNTexas Instruments technical notes ahead of earnings
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08:45 EDTTXNTexas Instruments volatility elevated into Q3 and outlook
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07:12 EDTVARCongress of Neurological Surgeons to hold annual meeting
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October 17, 2014
11:25 EDTPAYVeriFone wins appeal of patent ruling in favor of CardSoft
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08:00 EDTPAYVeriFone fundamentals unchanged despite sell-off, says Jefferies
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October 16, 2014
07:41 EDTFCSFairchild sees Q4 revenue $340M-$360M, consensus 367.53M
Fairchild CFO Mark Frey stated, "We expect sales to be in the range of $340M-$360M for Q4. We expect adjusted gross margin to be 33%-34% due primarily to lower sales and the impact of reduced factory loadings in the prior quarter. We anticipate R&D and SG&A spending to be $95M-$97M. The adjusted tax rate is forecast at 12% plus or minus 3 percentage points for the quarter. Consistent with our usual practices, we are not assuming any obligation to update this information, although we may choose to do so before we announce Q4 results."
07:39 EDTFCSFairchild reports Q3 adjusted EPS 28c, consensus 21c
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October 15, 2014
07:25 EDTMHRCanaccord to hold a conference
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October 14, 2014
10:01 EDTMHROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
09:02 EDTTXNTexas Instruments shipped over 22B units of copper wire bonding technology
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08:41 EDTMHRMagnum Hunter upgraded to Buy from Hold at KLR Group
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October 13, 2014
05:57 EDTTXNStocks with implied volatility movement; SMH TXN
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