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April 3, 2013
10:00 EDTCIE, SIX, ETN, RDWR, ASTX, STNG, FUN, NVDQ, IRDM, SCMP, QCOM, CRR, EXAROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: CARBO Ceramics (CRR) initiated with a Neutral at Goldman... Cedar Fair (FUN) initiated with a Neutral at Goldman... Eaton (ETN) initiated with an Equal Weight at Morgan Stanley... Qualcomm (QCOM) initiated with an Outperform at Northland Securities... Scorpio Tankers (STNG) initiated with a Neutral at Credit Suisse... Six Flags (SIX) initiated with a Conviction Buy at Goldman... Sucampo (SCMP) initiated with a Buy at Cantor... Astex Pharmaceuticals (ASTX) initiated with an Outperform at RBC Capital... Cobalt (CIE) initiated with an Overweight at Johnson Rice... Radware (RDWR) initiated with a Buy at Craig-Hallum... Iridium (IRDM) initiated with a Buy at Sidoti... Exar (EXAR) initiated with a Buy at Needham... Novadaq Technologies (NVDQ) initiated with a Buy at Stifel.
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October 2, 2015
09:34 EDTQCOMParkerVision denied bid for rehearing in patent loss to Qualcomm, Bloomberg says
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07:51 EDTNVDQNovadaq shares at attractive levels again, says Canaccord
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October 1, 2015
12:44 EDTQCOMApple chip suppliers fall after report iPhone maker may lower chip orders
Shares of chip makers for Apple's (AAPL) iPhone are sliding after a DigiTimes article said the iPhone maker may curtail its chip orders for the fourth quarter. WHAT'S NEW: According to the DigiTimes report, Apple may be adjusting its chip orders lower for Q4. Sources said that a substantial integrated circuit supplier is saying that Apple has "slightly lowered lowered its demand for supplies for the new iPhones for December," the report said. The sources said that overall shipments of the iPhone 6s series are expected to reach 75M-80M units in the third quarter and 65M-70M units in Q4. WHAT'S NOTABLE: On September 28, Apple announced it has sold more than 13M new iPhone 6s and iPhone 6s Plus models just three days after launch, a new record for the company. According to an iFixit report from September 25, a teardown of the new iPhone 6S Plus revealed components supplied by Qualcomm (QCOM), Skyworks (SWKS), Qorvo (QRVO), Avago (AVGO), NXP Semiconductors (NXPI), Cirrus Logic (CRUS) and Texas Instruments (TXN), among others. Other chip makers that have been mentioned as possible Apple suppliers in the past include Analog Devices (ADI), Maxim Integrated Products. (MXIM) and ON Semiconductor (ON). PRICE ACTION: In midday trading shares of the aforementioned chip makers are all lower with Qorvo, Avago, NXP and Analog Devices down approximately 4% to 5%. Apple is down about 1.4%.
07:18 EDTNVDQNovadaq, Arthrex announce co-marketing agreement for PINPOINT
Novadaq Technologies announced that it has entered into a Co-Marketing Agreement with Arthrex. The Agreement allows the two companies to combine their expertise and devices to offer a world-class endoscopic system for a wide variety of surgical specialties, including orthopaedic, general, colorectal and gynecological surgeries. NOVADAQ's "plug and play" PINPOINT upgrade kit facilitates the seamless integration of its SPY imaging technology into Arthrex's Synergy System, combining the most clinically relevant fluorescence imaging experience with the leading 4K white light endoscopic system. Both companies will continue to sell their own standalone systems in addition to the combined systems, giving end-users unparalleled choice in providing the best care for their patients. Arthrex will have the ability to include the PINPOINT upgrade kit in all new Synergy System purchases, as well as upgrade their existing installed base. NOVADAQ's sales team will continue to sell PINPOINT as a part of its fluorescence imaging ecosystem and NOVADAQ will also supply the disposable kits required to perform SPY imaging procedures directly to those Arthrex customers that have purchased PINPOINT upgrade kits.
September 30, 2015
10:05 EDTSIXHigh option volume stocks
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September 29, 2015
06:35 EDTSTNGScorpio Tankers acquires one million of its shares in the open market
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05:59 EDTNVDQNovadaq pullback brings buying opportunity, says Piper Jaffray
After attending the company's iSPIES meeting in Las Vegas, Piper Jaffray analyst Matt O'Brien says Novadaq's business momentum "remains strong." He continues to believe that competitive concerns are overblown and thinks the company should meet or beat Q3 estimates. The analyst views the recent pullback in shares as a buying opportunity and reiterates an Overweight rating on Novadaq with a $16.50 price target.
September 27, 2015
16:24 EDTQCOMQualcomm commits to invest $150M in Indian startups
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September 25, 2015
13:52 EDTCRRSand proppant producers plunge after Emerge Energy withdraws guidance
Shares of sand proppant producers U.S. Silica (SLCA), Hi-Crush Partners (HCLP), CARBO Ceramics (CRR), and Fairmount Santrol Holdings (FMSA) are declining after peer Emerge Energy Services (EMES) withdrew its distribution guidance, causing Baird and Stifel to issues downgrades on the company. WHAT'S NEW: Emerge Energy said in a statement Thursday night that it is withdrawing its previously announced distribution guidance for 2015 due to difficult market conditions in its Sand and Fuel segments caused by prolonged downward pressure on oil and natural gas prices. Emerge Energy also noted that it does not currently anticipate announcing any further distribution guidance for 2015. WHAT'S NOTABLE: In a note to investors, Baird analyst Ethan Bellamy downgraded Emerge Energy Services to Underperform from Neutral as he warned that distribution cuts are likely ahead. Bellamy noted that Emerge Energy announced preliminary 2015 DPU guidance of $8.00/unit, but lowered it to $3.00 in April, and again lowered it in August to $2.50-$3.00 before cutting guidance completely Thursday. Baird is now modeling DPU of $2.35/unit in 2015 versus current consensus of $2.55/unit. Fracking sand prices continue to be under pressure due to renegotiated contracts and reduced spending by exploration and production companies, the analyst added. Additionally, Baird warned of a possible covenant breach in the future. The firm noted that Emerge Energy is in ongoing discussions with its lenders to seek a prospective waiver on its covenants. Another research firm, Stifel, downgraded shares of Emerge Energy to Sell from Hold. The firm significantly reduced its estimates and thinks the stock has several negative catalysts. It predicted there will be additional downward pressure on the shares. PRICE ACTION: In afternoon trading, shares of Emerge Energy are down 29.75% to $8.24. OTHERS TO WATCH: Other sand proppant producers are trading lower in afternoon trading, with U.S. Silica down almost 10%, Hi-Crush Partners falling 12.7%, CARBO Ceramics dropping 5.4%, and Fairmount Santrol Holdings declining over 8%.
13:36 EDTQCOMQualcomm volatility low as shares trend lower
Qualcomm (QCOM) current 30-day call option implied volatility is at 26, compared to a one-month ago level of 38, suggesting decreasing price movement for the chipmaker that appear poised to obtain more revenue from Apple's (AAPL) iPhone 6S devices.
11:25 EDTQCOMCirrus leads iPhone suppliers higher as analysts dissect 6S
Cirrus Logic (CRUS), Skyworks (SWKS) and Qorvo (QRVO) are among the chipmakers that appear poised to obtain more revenue from Apple's (AAPL) iPhone 6S devices than from the previous generation of the market-leading smartphone. Research firms issued notes today based on their analysis of "teardowns" of the new phones after they went on sale for the first time, beginning in Australia. TEARDOWNS: Apple's common practice when rolling out its newest iPhone models is for Australia to be its first launch market. The unboxing of iPhones when they become available for sale for the first time anywhere in the world is a much anticipated event among the tech giant's fans, as well as by Apple-focused blogs and Wall Street analysts who follow the company. Websites like iFixit have become well known for their "teardowns" of the devices, where they purchase, take apart and analyze the way in which the device is made and how it differs from previous models. These teardowns are closely watched by analysts and can sometimes be catalysts for the stocks of iPhone component suppliers. CIRRUS: Barclays analyst Blayne Curtis says teardowns of Apple's iPhone 6S indicate Cirrus Logic secured both a smart codec and boosted amp win in the new phone. The company's content in each phone is likely towards the upper end of his $3.50-$4.00 estimate, Curtis tells investors, noting that he views this as better than expected. Curtis thinks the 6S content, coupled with the "several new growth drivers" Cirrus outlined at yesterday's technology day, could reverse the negative sentiment on the stock. He keeps an Overweight rating on the name with a $39 price target. OTHER WINNERS AND LOSERS: Skyworks and Qorvo saw their content rise 22% and 25% respectively, Curtis estimated. NXP Semiconductors (NXPI) is continuing to supply the NFC and Secure Element chips for the 6S devices, but is no longer providing the sensor hub, the analyst reported. The company will lose about 50c per iPhone as a result of this development, but it did know that it would no longer be providing the hub before it provided its guidance in July, according to Curtis. STMicroelectronics (STM) is no longer providing the secure MCU for the iPhone 6S, Curtis added. WHAT'S NOTABLE: Other companies that are supplying iPhone 6S components include Qualcomm (QCOM), Texas Instruments (TXN), and Avago (AVGO), iFixit reported. After conducting checks, Craig-Hallum analyst Anthony Stoss estimated that Skyworks will obtain about $6.50 of revenue per iPhone, up from about $5.50 previously, while Qorvo's revenue per device will rise to $6.25 from $5.75 and Avago will see its revenue per device increase to about $6.75 from about $6.50, Stoss believes. The firm kept Buy ratings on Skyworks, Avago, and Qorvo. PRICE ACTION: In morning trading, Cirrus shares jumped $4.36, or 16%, to $31.49, Skyworks added about 3% and Qorvo rose 4%. Meanwhile, NXP gained about 2% and STMicroelectronics advanced 2.5%.
09:48 EDTQCOMApple iPhone 6S Plus teardown reveals chip suppliers, iFixit reports
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September 24, 2015
07:01 EDTSTNGScorpio Tankers upsizes credit facility from $52M to $87M
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07:00 EDTSTNGScorpio Tankers takes delivery of two product tankers in September
Scorpio Tankers took delivery of two newbuilding product tankers in September: STI Carnaby, an LR2 product tanker, was delivered from Sungdong Shipbuilding & Marine Engineering Co. Upon delivery, this vessel began a voyage for 53 days at approximately $41K per day. STI Black Hawk, an MR product tanker, was delivered from Hyundai Mipo Dockyard Co. of South Korea. Upon delivery, this vessel began a voyage in the Scorpio MR Pool for 13 days at approximately $31K per day.
06:58 EDTSTNGScorpio Tankers to sell STI Highlander vessel
Scorpio Tankers reached an agreement to sell its 2007 built Handymax product tanker, STI Highlander, for approximately $19.35M. The sale of this vessel is expected to close in October. There will be no debt repayment associated with this sale as this vessel is not collateralized under any of the company's credit facilities. Subsequent to the sale of STI Highlander, all of the company's owned fleet will have been built in 2012 or later.
September 22, 2015
15:52 EDTQCOMThe Washington Post to send 100% of stories to Facebook Instant Articles
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07:15 EDTQCOMCloudFlare raises $110M from consortium of Google, Microsoft, others
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06:40 EDTQCOMChip sector deal size up substantially in 2015, WSJ reports
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September 21, 2015
10:00 EDTCRROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Sector Perform from Outperform at RBC Capital... Aircastle (AYR) downgraded to Underperform from Buy at BofA/Merrill... Atmel (ATML) downgraded to Hold from Buy at Craig-Hallum... Boston Properties (BXP) downgraded to Neutral from Buy at Mizuho... Buenaventura (BVN) downgraded to Neutral from Outperform at Credit Suisse... CARBO Ceramics (CRR) downgraded to Underperform from Sector Perform at Iberia... Cameron (CAM) downgraded to Sector Perform from Outperform at Iberia... D.R. Horton (DHI) downgraded to Hold from Buy at Deutsche Bank... General Finance Corp (GFN) downgraded on pricing pressures at Oppenheimer... Greenbrier (GBX) downgraded to Market Perform from Outperform at Wells Fargo... HCP (HCP) downgraded to Sell from Neutral at Goldman... Helmerich & Payne (HP) downgraded to Sector Perform from Outperform at Iberia... ImmunoGen (IMGN) downgraded to Underweight on IMGN 853 risk at Morgan Stanley... Janus Capital (JNS) downgraded to Underweight from Equal Weight at Morgan Stanley... Key Energy (KEG) downgraded to Sector Perform from Outperform at Iberia... Melco Crown (MPEL) downgraded to Underperform from Neutral at Macquarie... Olympic Steel (ZEUS) downgraded to Sector Weight from Overweight at KeyBanc... Potash (POT) downgraded to Underperform from Neutral at Macquarie... Precision Castparts (PCP) downgraded following acquisition at RBC Capital... Rocky Brands (RCKY) downgraded to Neutral from Buy at B. Riley... Sirona Dental (SIRO) downgraded to Equal Weight from Overweight at Stephens... Tribune Publishing (TPUB) downgraded to Underperform from Neutral at Macquarie... Trinity Industries (TRN) downgraded on lower growth outlook at Wells Fargo... Waddell & Reed (WDR) downgraded to Underweight from Equal Weight at Morgan Stanley... WisdomTree (WETF) downgraded to Equal Weight from Overweight at Morgan Stanley... ZS Pharma (ZSPH) downgraded to Equal Weight on valuation at Morgan Stanley.
06:50 EDTCRRCARBO Ceramics downgraded to Underperform from Sector Perform at Iberia
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