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Stock Market & Financial Investment News

News Breaks
January 28, 2014
11:39 EDTSWKS, QCOM, AAPL, CRUS, BRCMApple suppliers fall after guidance disappoints investors
A number of companies that sell products to Apple (AAPL) are falling after the tech giant provided lower than expected second quarter revenue guidance. WHAT'S NEW: A difficult comparison with the launch of the iPhone 5 last year, lower iPod sales, inventory changes and currency fluctuations are among the factors that will limit Apple's second quarter revenue, the company's CFO, Peter Oppenheimer, stated on the company's earnings results conference call last night. Analysts believes that a number of other factors, including the saturation of high-end mobile markets and disappointing China sales, also contributed to the lower than expected guidance. Among the stocks that are falling following Apple's guidance are Cirrus Logic (CRUS), Broadcom (BRCM), Qualcomm, (QCOM) and Synaptics (SYNA). Apple is believed to account for about 85% of the revenue of Cirrus Logic, which develops audio components for mobile devices. Apple is believed to use chips made by Qualcomm and Skyworks in its devices, while Broadcom's chips have been incorporated into multiple Apple products. Synaptics supplies sensors for Apple's iPhones. PRICE ACTION: In late morning trading, Cirrus Logic sank 4.4% to $18.75, Broadcom fell 1.3% to $28.90, Qualcomm dropped 1.3% to $72.20, Skyworks slid 2.6% to $29.60, and Synaptics lost 1.25 to $59.50.
News For CRUS;BRCM;SWKS;QCOM;AAPL From The Last 14 Days
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July 21, 2014
07:14 EDTAAPLApple should be owned into tomorrow's results, says Piper Jaffray
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06:42 EDTAAPLApple price target raised to $115 from $100 at UBS
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05:57 EDTAAPLApple upgraded to Outperform from Market Perform at JMP Securities
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July 20, 2014
13:06 EDTAAPLFormer Obama spokesman Carney said to consider job at Apple, Bloomberg says
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July 18, 2014
16:47 EDTAAPLMarket ends week higher as earnings, M&A offset geopolitical tensions
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16:03 EDTAAPLOptions Update; July 18, 2014
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12:42 EDTSWKSOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory and have remained there throughout the morning. The averages moved in a narrow range for most of the opening hour of the session but spurted to higher levels during the second hour. Investors appear to be using yesterday’s sell-off as a buying opportunity, despite the ongoing events in Russia and Israel that largely contributed to yesterday’s action. ECONOMIC EVENTS: The first release of the University of Michigan consumer sentiment index for July fell to 81.3 after ending June with an 82.5 reading. The leading economic indicator index rose 0.3% to 102.2, which was a bit below the forecast for an increase of 0.5%. COMPANY NEWS: Class A shares of Google (GOOGL) advanced over 3% after the search giant reported quarterly revenue that beat expectations last night. Following its report, at least three Wall Street research firms raised their price targets on the stock, while noted tech analyst Collin Gillis of BGC Financial upgraded the stock to Buy from Hold... Dow component General Electric (GE) reported second quarter EPS of 39c, matching the consensus forecast, and revenue that just missed the consensus view of analysts. The company also reported that it is targeting the initial public offering of IPO of Synchrony Financial (SYF), its North American Retail Finance business, for July. In the IPO, Synchrony is offering 125M shares of its common stock, which will be listed on the New York Stock Exchange under the symbol “SYF,” and anticipates that the IPO price of the shares will be between $23.00 and $26.00 per share... Another Dow member, IBM (IBM), fell 0.4% after reporting adjusted Q2 earnings per share and revenue that beat expectations. Afterward, Cantor said it thinks the worst is over for the company and reiterated its Buy rating on the shares, though Societe Generale downgraded IBM to Sell from Hold and Credit Suisse said IBM continues to be driven by less revenue growth and kept its Underperform rating and $160 price target on Big Blue's stock. MAJOR MOVERS: Among the notable gainers was Skyworks (SWKS), which gained 14% after reporting third quarter results and fourth quarter guidance above analyst estimates and seeing no less than five analyst firms raise their price targets on its stock. Also higher was Gentiva Health (GTIV), which rose 14% after it announced that its board unanimously determined to reject the partial tender offer from Kindred Healthcare (KND) to acquire 14.9% of the outstanding shares of Gentiva for a price of $16.00 per share in cash and disclosed that it has received a $17.25 per share, all-cash takeover proposal from a "recognized owner, operator and investor in the sector." After the announcement, shares of Kindred fell 2%. Also lower following their earnings reports were RealPage (RP), which fell over 21%, and Advanced Micro Devices (AMD), which dropped nearly 18%. INDEXES: Near midday, the Dow was up 107.05, or 0.63%, to 17,083.86, the Nasdaq was up 57.98, or 1.33%, to 4,421.43, and the S&P 500 was up 17.04, or 0.87%, to 1,975.16.
11:42 EDTBRCMAMD plummets after profit miss, analyst downgrades
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11:03 EDTAAPLEU says Google adding 'in-app' purchase protections, Apple yet to commit
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10:48 EDTSWKSHigh option volume stocks
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10:33 EDTSWKS, AAPLSkyworks price target raised to $62 from $56 at Craig-Hallum
Craig-Hallum increased its price target on Skyworks (SWKS) after the company's Q3 results surpassed its guidance, and the company issued guidance for its September quarter that the firm views as strong. The firm thinks the company's annual EPS is moving towards $5. It expects the company to benefit from the launch of Apple's (AAPL) iPhone 6 and the recent popularity of Internet of Things devices. Craig-Hallum thinks the shares look cheap and reiterates a Buy rating on the shares.
10:11 EDTQCOMQualcomm July weekly volatility elevated into Q3 and revenue outlook
Qualcomm July weekly call option implied volatility is at 32, August is at 20, September, October and January is at 17; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on July 23.
09:48 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NQ GOOG GOOGL TSLA KGC TWTR AMZN ELNK AMGN FB
09:24 EDTSWKSOn The Fly: Pre-market Movers
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08:48 EDTSWKSSkyworks price target raised to $65 from $55 at Oppenheimer
Oppenheimer increased its price target on Skyworks after the company reported stronger than expected results and guidance. The firm called the company's results and guidance "exemplary." It reiterates an Outperform rating on the shares.
08:23 EDTSWKSSkyworks price target raised to $60 from $50 at JMP Securities
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08:01 EDTSWKSSkyworks price target raised to $55 form $51 at Canaccord
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07:49 EDTAAPLEU says Apple should do more to battle in-app purchases issue, Reuters says
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07:29 EDTSWKSSkyworks price target raised to $58 from $54 at Brean Capital
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06:58 EDTAAPLReport says iPhone 6 begins mass production this month, Reuters says
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