New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 15, 2014
11:53 EDTTEL, BRCM, FLEX, APH, AVGO, CSCO, CAVM, JBLCisco 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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 29, 2015
17:05 EDTJBLJabil Circuit authorizes $100M share repurchase program
Jabil Circuit announced that its board has authorized the repurchase of up to $100M worth of shares of the companyís common stock during the period from through August 31, 2016.
16:20 EDTCAVMCavium reports Q2 adjusted EPS 41c, consensus 41c
Subscribe for More Information
10:36 EDTCSCOLockheed Martin launches healthcare technology alliance
Lockheed Martin (LMT) announced the formation of a new healthcare technology alliance, combining the expertise of health IT providers, medical technology companies, and academic institutions to advance public health. The Lockheed Martin Healthcare Technology Alliance's founding members include: Cisco (CSCO), Cloudera, Illumina (ILMN), Intel (INTC) and Montgomery College. The members of the Lockheed Martin Healthcare Technology Alliance will collaborate on technology solutions that help improve care in rapidly evolving and growing areas of health technology such as those that: secure patient medical information; leverage advances in genomic research; and apply big data solutions to improve public health.
July 27, 2015
11:18 EDTCSCOCisco's new CEO names Biri Singh as CTO, Kevin Brandy as CDO
Subscribe for More Information
July 26, 2015
15:07 EDTCSCOCisco CEO to add 'key external hires' to management team, Barron's says
Cisco CEO Chuck Robbins told Barron's in an interview that "I think itís fair to say I bring the ability to move faster [than predecessor John Chambers] just in how I structure the teams and how I will interact with them," adding that he plans "some key external hires," potentially in cloud computing and security. The publication notes that shares of Cisco could jump "sharply higher" if investors start looking at Cisco's potential strength in the Internet-of-Things space. Reference Link
14:44 EDTCSCOAmazon cloud sales signal risk for traditional data storage, Barron's says
Subscribe for More Information
July 24, 2015
09:06 EDTFLEXFlextronics officially changes name to 'Flex'
Flextronics announced that it has officially changed its name to Flex. "We have progressed in our product and service offering over the years, adding many new solutions, and today we are much more than just an EMS, supply chain solutions or 'tronics' company. Our new website and corporate identity better reflect who we are. We are proud to be our customers' sketch-to-scale competitive advantage, further enabling a simpler, richer life through technology," said Michael Mendenhall, Flex chief marketing and communications officer.
06:17 EDTCSCOCisco new CEO says to exit Q4 with headcount up
Subscribe for More Information
July 23, 2015
16:22 EDTFLEXFlextronics sees Q2 adjusted EPS 22c-28c, consensus 25c
Sees Q2 revenue $5.9B-$6.5B, consensus $6.23B.
16:21 EDTFLEXFlextronics reports Q1 adjusted EPS 23c, consensus 23c
Reports Q1 revenue $5.57B, consensus $5.89B.
06:15 EDTCSCOTechnicolor to acquire Cisco's connected devices unit for EUR550M
Subscribe for More Information
July 22, 2015
14:51 EDTCAVM, AVGO, BRCMEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
09:07 EDTAPHOn The Fly: Pre-market Movers
Subscribe for More Information
08:07 EDTAPHAmphenol board raises quarterly dividend to 14c per share from 12.5c
Subscribe for More Information
08:06 EDTAPHAmphenol sees FY15 EPS ex-items $2.43-$2.47, consensus $2.45
Subscribe for More Information
08:04 EDTAPHAmphenol sees Q3 EPS ex-items 64c-66c, consensus 63c
Subscribe for More Information
08:03 EDTAPHAmphenol reports Q2 EPS ex-items 58c, consensus 58c
Subscribe for More Information
06:04 EDTTELTE Connectivity sees FY15 adjusted EPS $3.60-$3.66, consensus $3.68
Lowers FY15 revenue guidance to $12.28B-$12.42B, consensus $12.51B. The outlook includes foreign exchange headwinds, reducing expected sales by $925M and adjusted EPS by 32c year over year.
06:02 EDTTELTE Connectivity sees Q4 adjusted EPS 90c-96c, consensus 99c
Subscribe for More Information
06:01 EDTTELTE Connectivity reports Q3 adjusted EPS 90c, consensus 88c
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use