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Stock Market & Financial Investment News

News Breaks
May 15, 2014
11:53 EDTCSCO, FLEX, JBL, AVGO, BRCM, CAVM, APH, TELCisco rallies after results top expectations
Shares of networking equipment giant Cisco Systems (CSCO) are advancing after the company's third quarter results topped analysts' consensus estimates. WHAT'S NEW: Last night, Cisco reported Q3 adjusted earnings per share of 51c and revenue of $11.5B, topping expectations of 48c and $11.38B, respectively. The company forecast Q4 adjusted EPS of 51c-53c, compared to consensus of 51c. Q4 revenue was seen decreasing 1%-3% from the prior year, which represents sequential growth of 4%-6%, versus consensus $11.77B. For FY14, adjusted EPS was forecast at the high end of the $1.95-$2.05 range, versus consensus $1.99. ANALYST REACTION: Research firm Piper Jafray raised its price target on Cisco to $26 from $24 and kept an Overweight rating on the shares, saying it expected little downside risk in Cisco shares after the company's Q3 results beat expectations. Another firm, Bernstein, said the bear case on Cisco appears to be wrong, saying that the company is already showing signs of recovery. The firm expects the stock to be boosted by a pronounced recovery in IT spending and improved sentiment towards the name, with both likely occurring in the second half. Bernstein reiterated its $30 price target and Outperform rating on the stock. On the contrary, Citigroup said Cisco continues to have long-term structural issues despite its "strong" Q3 results. Citi still believes Cisco will lose market share in data center switching and routing amid mounting competitive pressures and kept a Sell rating on the stock with an $18 price target. OTHERS TO WATCH: RBC Capital said it believes that Cisco's results and guidance bode well for the company's key supply chain partners, such as Flextronics (FLEX), Jabil Circuit (JBL), Amphenol (APH) and TE Connectivity (TEL). Oppenheimer thinks that Cisco's strong enterprise results have positive implications for Avago (AVGO), Broadcom (BRCM), and Cavium (CAVM). PRICE ACTION: In late morning trading, Cisco rose $1.52, or 6.7%, to $24.33 on nearly twice its average daily trading volume. Including today's advance, the stock is up about 15% over the past twelve months.
News For CSCO;FLEX;JBL;AVGO;BRCM;CAVM;APH;TEL From The Last 14 Days
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August 28, 2014
15:03 EDTBRCMCSR a potential target for TI, Broadcom after spurning Microchip, Bloomberg says
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11:41 EDTAVGOAvago technical comments before earnings
The shares have outperformed most indexes in the last three months, trading up over 8%. Price is also very close to the 52-week high and life high at $77.21. On stronger than expected positive news and guidance, the life high would be an easy reach from current levels. Without overhead resistance, a next likely upside target would be at the $80 to $85 area depending on the degree of surprise. If the news is not as bullish as sentiment in the name supposes, there is greater risk of a strong downside risk given the big advance the stock has made. In the year-to-date period price is up over 44.6%. On an increasing scale of disappointment, the following support levels could be tested as downside objectives: $73.15, $69.38, and $67.52. The $70 area has been strong support in the last several months as shares consolidated gains. A breakdown below that level could therefore precipitate further price weakness.
August 27, 2014
12:13 EDTCSCOAruba Networks climbs after earnings beat prompts upgrades
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09:06 EDTBRCMBroadcom volatility at record lows
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08:48 EDTCSCOAruba Networks upgraded to Overweight at Stephens
As previously reported, Stephens upgraded Aruba Networks (ARUN) to Overweight from Equal Weight and raised its price target on the stock to $25 from $22, citing the company's strong Q4 results and the firm's belief that Cisco (CSCO) has become increasingly less competitive over the last several quarters.
07:43 EDTBRCM, CAVMJefferies to hold a summit
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07:34 EDTAVGOAvago Q3 results likely to beat expectations, says Oppenheimer
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August 26, 2014
11:56 EDTTELMeasurement Specialties Shareholders approve merger with TE Connectivity
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August 25, 2014
06:58 EDTAPHAmphenol poised to beat 2H14 expectations, says RBC Capital
After meeting with Amphenol's management, RBC Capital thinks the company's 2H14 results should surpass expectations, as it says that expectations for the results have declined while the macro environment has improved. The firm raised its price target on the shares to $107 from $101 and keeps a Top Pick rating.
August 24, 2014
21:56 EDTBRCMB. Riley to hold a tour
Silicon Valley Tech Tour travels throughout Silicon Valley on August 25-27.
August 22, 2014
11:17 EDTAVGOPeregrine unlikely to receive competing bid, says Oppenheimer
Oppenheimer believes Peregrine (PSMI) is unlikely to receive a competing takeover bid to Murata's since Murata is Peregrine's largest customer and Avago (AVGO) and Skyworks (SWKS) are looking to diversify away from mobile. Opco thinks Murata may look to divest Peregrine's non-mobile business, and views Skyworks, RF Micro Devices (RFMD), Analog Devices (ADI), and M/A-Com Technology (MTSI) as logical buyers for the business.
11:06 EDTCAVMCavium management to meet with William Blair
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August 21, 2014
17:00 EDTAVGOAvago files to sell $1B of 2% convertible senior notes due 2021
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09:00 EDTAVGOSeveral semi companies have positive read through from deal, says Sterne Agee
After Infineon (IFNNY) bought International Rectifier (IRF), Sterne Agee thinks the deal indicates that the shares ofother players in the sector - including Spansion (CODE), NXP Semiconductors (NXPI), and Avago (AVGO) - can rise further. The firm keeps Buy ratings on the latter three stocks.
August 20, 2014
06:26 EDTCSCOCisco COO says annual layoffs 'wrong way to do it,' Business Insider reports
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August 19, 2014
11:05 EDTCSCOImperva seen as takeover candidate under new CEO
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08:42 EDTCSCOImperva new CEO has history of selling companies, says Sterne Agee
After Imperva (IMPV) appointed Anthony Bettencourt as its new CEO, Sterne Agee says that he has a history of selling companies. The firm believes that Imperva "would likely be an acquisition candidate" for a number of large tech companies such as Cisco (CSC), Juniper (JNPR), HP (HPQ), IBM (IBM), Check Point (CHKP), or F5 (FFIV). Sterne Agee believes that Imperva could be acquired for as much as $45 per share, and it keeps a Buy rating on the stock.
06:29 EDTAVGOMorgan Stanley remains a buyer of Avago
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August 18, 2014
10:29 EDTAVGOGoldman cuts sector view on semiconductors to Cautious
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08:04 EDTAVGOSemiconductors sector downgraded to Cautious from Neutral at Goldman
Goldman downgraded the Semiconductors sector to Cautious given signs the cycle is turning based on expectations for a slowdown in semiconductor revenue growth, above trend semi unit shipments that should normalize, and stretching lead times. As a result, the analyst sees risk to Q4 estimates and sees further downside of 10%-25% for the SOX (SOX) and downgraded NXP Semiconductors (NXPI) to Sell from Neutral, InvenSense (INVN) to Neutral from Buy, and removed Maxim Integrated (MXIM) from the Conviction Buy List.
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