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 | >>
June 30, 2015
07:13 EDTCSCONasdaq to hold a conference
Subscribe for More Information
06:11 EDTCSCOCisco, Schneider Electric partner to build resilient control system networks
Subscribe for More Information
June 29, 2015
16:22 EDTAPHOn The Fly: Top stock stories for Monday
Subscribe for More Information
12:24 EDTAPHOn The Fly: Top stock stories at midday
Stocks on Wall Street were sharply lower at midday after a surprise power play by the country's Prime Minister may lead to either his exit from power or the country's exit from the euro zone. ECONOMIC EVENTS: In Europe, Greek Prime Minister Alexis Tsipras called a surprise referendum for July 5 on the terms put forth by the country’s creditors in exchange for additional rescue funding. Meanwhile, the European Central Bank decided not to expand its emergency liquidity assistance to Greek banks, leading the country to shut down its banking system and move to impose capital controls. In Asia, the People’s Bank of China cut the one-year lending rate by 25 basis points to 4.85% and lowered the amount of reserves certain banks are required to hold by 50 basis points, but the Shanghai Composite still closed the day with another 3.3% in losses. In the U.S., the National Association of Realtors' pending home sales index rose 0.9% to 112.6 in May, which was roughly in-line with expectations but also marked the highest level since April 2006. COMPANY NEWS: Shares of several coal miners advanced after the Supreme Court overturned the Environmental Protection Agency's air quality regulations for power plants, stating that the regulator did not properly take into account the costs to utilities and others in the sector. Peabody Energy (BTU) rose 5% after the ruling, while Arch Coal (ACI) gained 8% and Cloud Peak Energy (CLD) added about 3%. MAJOR MOVERS: Among the notable gainers was Aratana Therapeutics (PETX), which jumped 17.5% after the company announced results from its study of capromorelin, the company's therapeutic for appetite stimulation in dogs. Also higher was Amphenol (APH), which gained 4% after announcing it has entered into exclusive negotiations and has made a binding offer to acquire 100% of the shares of FCI Asia, which is involved in interconnect solutions for the telecom, datacom, wireless communications and industrial markets, for $1.275B from its private equity owner Bain Capital. Among the noteworthy losers were bond insurers MBIA (MBI), which dropped 18%, and Assured Guaranty (AGO), which fell 13.5%, after Puerto Rico's Governor said that the commonwealth would not be able to pay its debts and called for concessions from the island’s creditors. Both stocks were downgraded at BTIG following the news. Also lower following the news in Puerto Rico were First Bancorp (FBP), the bank holding company for FirstBank Puerto Rico, and Popular (BPOP), the parent of Banco Popular de Puerto Rico. Shares of Vitae Pharmaceuticals (VTAE) declined 16% after the company announced that an ongoing Phase 2 trial of its treatment of overweight type 2 diabetic patients did not meet partner Boehringer Ingelheim's predefined endpoint criteria. INDEXES: Near midday, the Dow was down 218.57, or 1.22%, to 17,728.11, the Nasdaq was down 69.65, or 1.37%, to 5,010.85, and the S&P 500 was down 25.68, or 1.22%, to 2,075.81.
09:35 EDTCSCOActive equity options trading on open
Subscribe for More Information
08:01 EDTAPHAmphenol enters into exclusive negotiations to acquire FCI Asia for $1.275B
Subscribe for More Information
06:10 EDTCAVMCavium estimates lowered at Pacific Crest
Subscribe for More Information
June 26, 2015
05:33 EDTTELTE Connectivity named lead partner to Andretti Technologies
Subscribe for More Information
June 25, 2015
08:05 EDTBRCMBroadcom signs strategic collaborations in China
Broadcom announced a series of Memorandum of Understanding agreements with several Chinese companies, including H3C for collaboration on the integration of cloud and Internet services, Inspur for collaboration to drive continued innovation in Ultra HD set-top box offerings for China, and StarTimes for joint design and development of low cost set-top boxes and high end Ultra HD gateways.
07:23 EDTCSCOHouse Energy & Commerce Committee to hold a hearing
Subscribe for More Information
June 24, 2015
10:00 EDTAVGOOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:38 EDTTELTE Connectivity downgraded to Hold from Buy at Cross Research
Subscribe for More Information
09:11 EDTCAVMApplied Micro an affordable target for Qualcomm, says Summit Research
Subscribe for More Information
08:31 EDTCSCOInvestors should weigh waiting for better Arista entry point, says Pacific Crest
Pacific Crest says that Arista's (ANET) new Cloudvision software should have only a minor impact on its 2H15 results. The firm recommends that investors consider waiting for a lower entry point before buying the stock. The firm thinks that such an entry point could materialize during the company's trial versus Cisco (CSCO) this summer. It keeps an $88 price target and Overweight rating on Arista..
07:39 EDTAVGOAvago initiated with a Buy at Argus
Target $163.
June 23, 2015
12:54 EDTAVGOPC concerns weighing on shares of Seagate, Western Digital
Subscribe for More Information
08:04 EDTCSCONRG Renew to develop 20MW solar energy facility for Cisco
Subscribe for More Information
07:41 EDTCSCORed Hat to hold a summit
Red Hat Summit 2015 is being held in Boston on June 23-26 with webcasted company presentations to begin on June 23 at 4 pm; not all presentations may be webcasted. Webcast Link
07:33 EDTCSCOBlackBerry, Cisco sign broad patent cross-licensing agreement
Subscribe for More Information
June 22, 2015
08:08 EDTCSCORed Hat names Frank Calderoni as EVP, operations, CFO
Red Hat (RHT) announced that Frank Calderoni will join the company as EVP, operations and CFO. Calderoni will be responsible for leading the company’s global finance organization and the leadership and management of IT and operations teams, reporting to Red Hat president and CEO, Jim Whitehurst. Calderoni served as EVP and CFO at Cisco Systems (CSCO) for seven years and most recently served as an executive advisor. Calderoni succeeds Red Hat executive vice president and CFO Charlie Peters, whose planned retirement was announced in December 2014, and who will remain with Red Hat until July 31. Calderoni joins Red Hat on June 22, 2015, and will succeed Peters as CFO effective July 13, 2015.
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