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News Breaks
January 28, 2013
13:02 EDTNTE, CRUS, ISRG, SNDK, FFIV, INVNOptions with decreasing implied volatility: INVN CRUS SNDK NTE FFIV ISRG
News For CRUS;INVN;SNDK;NTE;FFIV;ISRG From The Last 14 Days
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January 21, 2015
15:33 EDTFFIVF5 Networks technical notes before results
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15:27 EDTFFIV, SNDKNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.38; Kinder Morgan (KMI), consensus 34c; eBay (EBAY), consensus 89c; Discover Financial Services (DFS), consensus $1.30; Crown Castle (CCI), consensus $1.05; Crown Castle (SNDK), consensus $1.27; Xilinx (XLNX), consensus 61c; F5 Networks (FFIV), consensus $1.49; United Rentals (URI), consensus $2.07; Plexus (PLXS), consensus 72c; Boston Private Financial Holdings (BPFH), consensus 22c; Dolby Laboratories (DLB), consensus 38c; SLM (SLM), consensus 5c; East West Bancorp (EWBC), consensus 65c; Raymond James Financial (RJF), consensus 86c; BancorpSouth (BXS), consensus 32c.
15:16 EDTSNDKSanDisk January weekly 79 straddle priced for 6% movement into Q4
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15:07 EDTSNDKEarnings Preview: Sandisk reports after cutting revenue forecast
SanDisk (SNDK) is expected to report fourth quarter earnings after the close on Wednesday, January 21, with a conference call scheduled for 5:00 pm ET. SanDisk manufactures data storage solutions, including removable and embedded Flash memory and solid-state drives. EXPECTATIONS: Analysts are looking for earnings per share of $1.27 on revenue of $1.73B. The consensus range is $1.15-$1.62 for EPS on revenue of $1.72B-$1.73B, according to First Call. On January 12, SanDisk cut its revenue outlook for Q4 to $1.73B from $1.8B-$1.85B. It added that non-GAAP gross margin for the quarter is expected to be approximately 45%, compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. LAST QUARTER: On October 16, SanDisk reported third quarter adjusted earnings per share of $1.45 and revenue of $1.75B, compared to expectations of $1.33 and $1.77B, respectively. At that time, SanDisk president and CEO Sanjay Mehrotra said demand for NAND flash continued to be strong across mobile, client and enterprise. On its Q3 earnings call, SanDisk said it was on track for Fusion-io to add to earnings in the second half of fiscal 2015. STREET RESEARCH: On the day of SanDisk's revenue warning, Needham downgraded SanDisk to Hold from Buy, citing the gross margin decline in the company's negative Q4 pre-announcement. Summit Research also downgraded SanDisk to Hold that day, while SanDisk was downgraded to Hold from Buy at Drexel Hamilton the next day. Piper Jaffray, however, viewed SanDisk's lowered Q4 revenue outlook as a "near-term reset" and said it continues to expect "solid ongoing demand" for NAND into 2016. Piper says its long-term thesis on shares of SanDisk remains unchanged. It lowered its price target for shares to $105 and $106 and reiterated an Overweight rating on the stock. Yesterday, Nomura downgraded SanDisk to Reduce from Neutral to reflect worsening product mix as removables continue to decline. The firm, which lowered its price target on the stock to $65 from $70, also noted the company's tough embedded comps and low dividend yield. PRICE ACTION: Over the last three months, shares of SanDisk have declined about 9.5%. Since January 1, SanDisk shares are down about 18%. Ahead of tonight's report, SanDisk is up almost 2% to $80.23 in afternoon trading.
14:23 EDTSNDKSanDisk technical notes before earnings
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08:40 EDTISRGIntuitive Surgical January weekly volatility elevated into Q4 and outlook
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January 20, 2015
15:15 EDTFFIVF5 Networks January volatility increases into Q1 and outlook
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07:17 EDTSNDKSanDisk downgraded to Reduce from Neutral at Nomura
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05:54 EDTINVNStocks with implied volatility movement; ZIOP INVN
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January 16, 2015
16:36 EDTSNDKMarket finishes week lower on continued oil, global growth worries
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14:29 EDTSNDKSanDisk January weekly volatility elevated into Q4 and outlook
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January 15, 2015
13:07 EDTFFIVNetworking trends seen as boon for Cisco, others
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10:19 EDTISRGOptions with decreasing implied volatility
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09:29 EDTSNDKNetlist claim against Diablo controller chips upheld
Netlist (NLST) announced that the U.S. District Court for the Northern District of California denied a motion filed by Diablo Technologies on January 13 requesting the Court to stay the Preliminary Injunction against controller chips used by SanDisk (SNDK) in its high-speed ULLtraDIMM SSD product line. The Preliminary Injunction will therefore remain in place. The Court in a separate ruling rejected SanDisk's request that it be allowed to sell existing inventory of the enjoined products. This order made clear that Diablo and SanDisk are working in concert and are now prohibited from manufacturing and selling the Diablo controller chipset used in the ULLtraDIMM and as a result, from further sale or distribution by SanDisk of the ULLtraDIMM itself.
07:02 EDTFFIVTrends positive for data networking names, says Bernstein
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January 14, 2015
10:00 EDTFFIVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ACE Limited (ACE) downgraded to Neutral from Outperform at Macquarie... AXIS Capital (AXS) downgraded to Neutral from Outperform at Macquarie... Allstate (ALL) downgraded to Underperform from Neutral at Macquarie... Altera (ALTR) downgraded to Neutral from Overweight at JPMorgan... American Midstream Partners (AMID) downgraded to Neutral from Buy at BofA/Merrill... Argo Group (AGII) downgraded to Underperform from Neutral at Macquarie... Aspen Insurance (AHL) downgraded to Underperform from Neutral at Macquarie... Beneficial Bancorp (BNCL) downgraded to Neutral at Boenning & Scattergood... CDW Corporation (CDW) downgraded to Neutral from Buy at Goldman... CHC Group (HELI) downgraded at Raymond James... CIRCOR (CIR) downgraded to Hold from Buy at Stifel... Chesapeake (CHK) downgraded to Underweight from Equal Weight at Barclays... Commerzbank (CRZBY) downgraded to Sell from Neutral at Goldman... Continental Resources (CLR) downgraded to Equal Weight from Overweight at Barclays... Corporate Office Properties (OFC) downgraded to Market Perform at Wells Fargo... Credit Suisse (CS) downgraded to Neutral from Overweight at HSBC... Datawatch (DWCH) downgraded to Hold at Canaccord... Devon Energy (DVN) downgraded to Equal Weight from Overweight at Barclays... Dollar Tree (DLTR) downgraded to Neutral from Buy at Northcoast... Douglas Emmett (DEI) downgraded to Neutral from Buy at Mizuho... Dresser-Rand (DRC) downgraded to Underperform from Market Perform at Raymond James... Enable Midstream (ENBL) downgraded to Underperform from Neutral at BofA/Merrill... F5 Networks (FFIV) downgraded to Equal Weight from Overweight at Barclays... First Majestic (AG) downgraded to Sector Perform from Outperform at Scotia Capital... Foot Locker (FL) downgraded to Sell from Neutral at Goldman... Franklin Resources (BEN) downgraded to Neutral from Buy at Goldman... HCP (HCP) downgraded to Market Perform from Outperform at Wells Fargo... Halcon Resources (HK) downgraded to Underweight from Equal Weight at Barclays... Insulet (PODD) downgraded at Sterne Agee... J.B. Hunt (JBHT) downgraded to Market Perform from Outperform at Avondale... JPMorgan (JPM) downgraded to Underweight from Neutral at HSBC... KB Home (KBH) downgraded to Neutral from Outperform at Credit Suisse... Kosmos (KOS) downgraded to Equal Weight from Overweight at Barclays... Marathon Oil (MRO) downgraded to Equal Weight from Overweight at Barclays... Medley Management (MDLY) downgraded to Market Perform at Keefe Bruyette... MoneyGram (MGI) downgraded to Underperform from Neutral at BofA/Merrill... NPS Pharmaceuticals (NPSP) downgraded to Neutral from Overweight at JPMorgan... National Grid (NGG) downgraded to Underperform from Neutral at Credit Suisse... Navigators (NAVG) downgraded to Underperform from Neutral at Macquarie... Pioneer Energy (PES) downgraded at Raymond James... RSP Permian (RSPP) downgraded to Equal Weight from Overweight at Barclays... Rambus (RMBS) downgraded to Neutral from Overweight at JPMorgan... Realty Income (O) downgraded to Market Perform from Outperform at Wells Fargo... Red Hat (RHT) downgraded to Sell from Neutral at Goldman... Resolute Energy (REN) downgraded to Underweight from Equal Weight at Barclays... Ross Stores (ROST) downgraded to Neutral at UBS... SandRidge Energy (SD) downgraded to Underweight from Equal Weight at Barclays... Tech Data (TECD) downgraded to Sell from Neutral at Goldman... Teekay Offshore Partners (TOO) downgraded to Neutral from Buy at BofA/Merrill... Travelers (TRV) downgraded to Underperform from Neutral at Macquarie... TrueCar (TRUE) downgraded to Market Perform at Cowen... Valspar (VAL) downgraded to Neutral from Outperform at RW Baird... Verizon (VZ) downgraded at Evercore ISI... Viacom (VIAB) downgraded to Sell from Buy at Citigroup... W. R. Berkley (WRB) downgraded to Underperform from Neutral at Macquarie... Waddell & Reed (WDR) downgraded to Neutral from Buy at Goldman... Western Union (WU) downgraded to Underperform from Neutral at BofA/Merrill... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Barclays... Whole Foods (WFM) downgraded to Hold from Buy at Argus... Xilinx (XLNX) downgraded to Neutral from Overweight at JPMorgan... iRobot (IRBT) downgraded to Underweight from Neutral at JPMorgan.
10:00 EDTCRUSOn The Fly: Analyst Upgrade Summary
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08:00 EDTSNDKSanDisk weakness likely temporary, says Bernstein
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06:43 EDTCRUSCirrus Logic upgraded to Sector Perform from Underperform at Pacific Crest
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06:03 EDTFFIVF5 Networks downgraded to Equal Weight from Overweight at Barclays
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