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Stock Market & Financial Investment News

News Breaks
February 13, 2013
05:55 EDTCRUS, CRUSCirrus Logic management to meet with Needham
Meeting to be held in Boston on February 20 hosted by Needham.
News For CRUS From The Last 14 Days
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July 23, 2015
10:05 EDTCRUSHigh option volume stocks
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10:00 EDTCRUSOn The Fly: Analyst Upgrade Summary
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09:13 EDTCRUSOn The Fly: Pre-market Movers
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07:21 EDTCRUSCirrus Logic upgraded on results, new product outlook at Stifel
As noted earlier, Stifel upgraded Cirrus to Buy from Hold. After the company delivered beat and raise results, Stifel notes that Cirrus reported record revenue. The firm is upbeat about the outlook for the company's upcoming products, and predicts that its new 55nm technology node will provide better scale with suppliers and cost advantages. Target $45.
06:47 EDTCRUSCirrus Logic upgraded to Buy from Hold at Stifel
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July 22, 2015
19:02 EDTCRUSOn The Fly: After Hours Movers
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16:03 EDTCRUSCirrus Logic trades higher after earnings
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16:02 EDTCRUSCirrus Logic sees Q2 revenue $290M-$310M, consensus $274.2M
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16:01 EDTCRUSCirrus Logic reports Q1 EPS 54c, consensus 43c
Reports Q1 revenue $282.6M, consensus $260.73M.
12:32 EDTCRUSOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
07:32 EDTCRUSCirrus Logic July weekly volatility elevated into Q1 and outlook
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July 21, 2015
19:00 EDTCRUSOn The Fly: After Hours Movers
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18:14 EDTCRUSApple supplier stocks sink after iPhone, iPad unit volumes lower sequentially
Shares of iPhone suppliers, including Skyworks (SWKS), Cirrus Logic (CRUS), NXP Semiconductors (NXPI), and QUALCOMM (QCOM), are trading lower after Apple (AAPL) reported third quarter earnings after the close. WHAT'S NOTABLE: Apple reported iPhone unit volume of 47.5M in Q3 versus 61.1M in the prior quarter. Apple's iPad unit volume was 10.9M for Q3, lower than the 12.6M unit volume reported in the prior quarter. PRICE ACTION: Apple is sinking almost 7% in after-hours trading, while its suppliers are also lower, with Skyworks down more than 5%, Cirrus Logic down just under 5%, NXP Semiconductors slumping almost 5%, and QUALCOMM sliding 1.2%.

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