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Stock Market & Financial Investment News

News Breaks
August 18, 2014
16:52 EDTNXPI, ST, MNST, FDO, LCI, DGOn The Fly: Closing Wrap
Stocks opened in positive territory and continued to tack on gains throughout the session. The market opened higher due to optimism that Russia and the Ukraine were negotiating a ceasefire. The momentum was solidified by better than expected data from the NAHB Housing Market Index. The averages drifted higher into the afternoon, setting up August to be the best monthly performance since February. The market closed near session highs on one of the lightest volume days of the year. ECONOMIC EVENTS: The NAHB homebuilder sentiment index rose 2 points to 55 in August. The index had climbed 4 points to 53 in July. This is the highest level since January's 56. The single family sales index edged up to 58 from 56 (revised from 57). The future index was 65 from 63 (revised from 64). The index of prospective buyer traffic improved to 42 from 39 (revised from 39). COMPANY NEWS: Shares of discount retailer Dollar General (DG) were higher by about 11.6% after the company announced a proposal to acquire rival Family Dollar (FDO) for $78.50 per share in cash, in a transaction valued at $9.7B. Shares of Family Dollar rose approximately 5% on the news. MAJOR MOVERS: Among the notable gainers was Sensata Technologies (ST), which rose 5.8% after after agreeing to buy privately held Schrader International for $1B. Also higher was Lannett (LCI), which gained 6.6% after the company said fourth quarter and full-year 2014 earnings per share and revenue would exceed analysts' consensus estimates. Among the noteworthy losers was Monster Beverage (MNST), which fell 5.4% after research firm Jefferies downgraded the shares to Hold from Buy saying the valuation looks full following its recent rally. Also lower was NXP Semiconductors (NXPI), which dropped 1% after Goldman Sachs downgraded the company to Sell from Neutral, and downgraded the semiconductor sector to Cautious from Neutral. The firm expects consensus estimates to move lower due to cyclical headwinds, increased Q4 and Q1 seasonality, and a RF correction. Goldman lowered their price target on the shares to $54 from $58. INDEXES: The Dow gained 175.8, or 1.06%, to 16,838.74, the Nasdaq rose 43.39, or 0.97%, to 4,508.31, and the S&P 500 was higher by 16.68, or 0.85%, to 1,971.74.
News For DG;FDO;ST;LCI;MNST;NXPI From The Last 14 Days
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May 22, 2015
10:38 EDTNXPIMizuho says buy NXP, Micron, ON Semi
Mizuho Securities initiated coverage of a number of chip makers in a note to investors last night. Among its recommendation in the space, NXP Semiconductors (NXPI), Micron (MU), and ON Semiconductor (ON) were called out with Buy ratings. NXP: NXP Semiconductors dominates the mobile payment market with its NFC products, Mizuho analyst Vijay Rakesh wrote. The company's NFC chips are used in Apple's (AAPL) Apple Pay and NXP has a strong mobile payment ecosystem in China, the analyst explained. NXP Semiconductors is also a leader in providing chips used to enhance credit card security, as its Chip+Pin system has a 75% share of the global market and is in the process of being deployed in the U.S, according to Rakesh. Going forward, NXP's growth should be driven by the automotive products of Freescale, which the company acquired earlier this year, the analyst stated, adding that NXP should derive strong synergies and cash flow from the deal. He set a $140 price target on the stock. MICRON: Sales of flash memory device maker Micron's DRAM products should be boosted by a PC rebound in the second half of this year, according to Rakesh. Additionally, the company's new CFO could make its actions more predictable, pleasing investors, the analyst stated. ON: ON Semiconductor should benefit from its acquisition of Aptina, which gave ON a significant presence in the Advanced Driver Assistance Systems, or ADAS, market, Rakesh believes. ADAS is likely to grow rapidly around the world, driven by mandates, the analyst predicted. A second positive catalyst for ON will be the proliferation of wireless charging, added the analyst, who set a $16 price target on the shares. PRICE ACTION: In early trading, NXP rose nearly 1% to trade nearly $108, Micron gained 2.6% to $27.61, and ON was fractionally higher. Other semiconductor makers initiated with Buy ratings by the firm include Skyworks (SWKS), Synaptics (SYNA), Avago (AVGO) and Cypress Semiconductor (CY).
09:58 EDTNXPIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allison Transmission (ALSN) initiated with a Buy at Stifel... Avago (AVGO) initiated with a Buy at Mizuho... Blackstone (BX) initiated with a Positive at Susquehanna... Cellectis (CLLS) initiated with an Outperform at Oppenheimer... Cypress Semiconductor (CY) initiated with a Buy at Mizuho... Esperion (ESPR) initiated with a Sell at Chardan... H&R Block (HRB) initiated with an Overweight at Piper Jaffray... Horizon Pharma (HZNP) initiated with an Outperform at Leerink... M/A-COM (MTSI) initiated with a Buy at Goldman... Meritor (MTOR) initiated with a Hold at Stifel... Micron (MU) initiated with a Buy at Mizuho... Monster Worldwide (MWW) initiated with a Neutral at Piper Jaffray... NXP Semiconductors (NXPI) initiated with a Buy at Mizuho... National Storage (NSA) initiated with a Sector Weight at KeyBanc... ON Semiconductor (ON) initiated with a Buy at Mizuho... Qorvo (QRVO) initiated with a Buy at Goldman... SanDisk (SNDK) initiated with a Neutral at Mizuho... Sharps Compliance (SMED) initiated with a Buy at Stifel... Skyworks (SWKS) initiated with a Buy at Mizuho... StemCells (STEM) initiated with a Buy at Cantor... Synaptics (SYNA) initiated with a Buy at Mizuho... Synergy Pharmaceuticals (SGYP) initiated with a Buy at Canaccord... Texas Instruments (TXN) initiated with a Neutral at Mizuho... TriNet (TNET) initiated with a Neutral at Piper Jaffray... Vascular Biogenics (VBLT) initiated with a Buy at Roth Capital... Verifone (PAY) initiated with an Outperform at Imperial Capital... uniQure (QURE) initiated with an Outperform at Oppenheimer.
09:34 EDTMNSTCoca-Cola Bottling enters new distribution agreement with Monster Beverage
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May 21, 2015
16:15 EDTNXPINXP Semiconductors initiated with a Buy at Mizuho
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14:21 EDTNXPINXP Semiconductors CEO says being Dutch company helps in China
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14:19 EDTNXPINXP Semiconductors looks to doing joint ventures in China
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07:44 EDTFDODollar Tree intends to close proposed Family Dollar merger in early July
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May 18, 2015
09:03 EDTLCILannett agrees to acquire Silarx Pharmaceuticals
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May 15, 2015
17:33 EDTDGPoint72 Asset Management gives quarterly update on stakes
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17:07 EDTFDOTrian Fund gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: PepsiCo (PEP), Mondelez (MDLZ), Bank of New York Mellon Group (BK), and Du Pont (DD). DECREASED STAKES: Family Dollar (FDO), and Ingersoll-Rand (IR). LIQUIDATED STAKES: Lazard (LAZ).
12:13 EDTNXPIThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
12:04 EDTNXPIThird Point reports new stakes in Maxim Integrated, NXP Semiconductors
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08:13 EDTNXPIJefferies ups view on Semis to Positive from Negative
Jefferies upped its view on the Semiconductors space to Positive from Negative after hosting a dozen companies at its annual conference in Miami. The firm notes that most companies noted an "OK" demand environment, which it views as supporting its thesis that the recent inventory correction and lower capex has created a "great opportunity" to add to Semi positions. After meeting with management, Jefferies has increased conviction that NXP Semiconductors (NXPI) will soon sell its HPRF business and return to its stock buyback program before most expect. It has Buy ratings on AMD (AMD), Microchip (MCHP), NXP and Texas Instruments (TXN).
May 12, 2015
10:01 EDTNXPIOn The Fly: Analyst Initiation Summary
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07:37 EDTSTOppenheimer to hold a conference
10th Annual Industrial Growth Conference is being held in New York on May 12-13 with webcasted company presentations to begin on May 12 at 8:15 am; not all company presentations may be webcasted. Webcast Link
07:28 EDTMNSTMonster Beverage deal financials better than expected, says JPMorgan
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06:57 EDTNXPINXP Semiconductors initiated with an Outperform at Bernstein
Target $133.
May 11, 2015
09:59 EDTMNSTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcatel-Lucent (ALU) upgraded to Outperform from Neutral at Exane BNP Paribas... Caterpillar (CAT) upgraded to Outperform at Baird... Cisco (CSCO) upgraded to Outperform with $36 target at Pacific Crest... Evolution Petroleum (EPM) upgraded to Outperform from Market Perform at Northland... Hecla Mining (HL) upgraded on hedging discipline at Roth Capital... Joy Global (JOY) upgraded to Outperform from Neutral at Baird... Monster Beverage (MNST) upgraded to Buy from Neutral at Citigroup... Nokia (NOK) upgraded to Outperform from Neutral at Exane BNP Paribas... On Deck Capital (ONDK) upgraded to Neutral from Sell at Sterne Agee CRT... Royal Caribbean (RCL) upgraded to Outperform from Neutral at Wedbush... SMC (SMECF) upgraded to Buy from Neutral at Goldman... Sally Beauty (SBH) upgraded to Outperform from Market Perform at Raymond James... Southwestern Energy (SWN) upgraded to Overweight from Equal Weight at Barclays... Sprouts Farmers Markets (SFM) upgraded to Outperform at BMO Capital... Suburban Propane (SPH) upgraded on positive outlook at Stifel... Suffolk Bancorp (SUBK) upgraded to Outperform from Market Perform at Keefe Bruyette... Syngenta (SYT) upgraded to Buy from Neutral at UBS... Triumph Group (TGI) upgraded to Outperform from Sector Perform at RBC Capital... United Natural Foods (UNFI) upgraded to Overweight from Equal Weight at Stephens... Web.com (WWWW) upgraded to Buy from Hold at Deutsche Bank... Zillow Group (Z) upgraded to Buy from Neutral at SunTrust.
06:56 EDTNXPINXP Semiconductors price target raised to $125 from $115 at Deutsche Bank
Deutsche Bank raised its price target for NXP Semiconductors to $125 after meeting with management and reiterates a Buy rating on the name. Deutsche believes the Freescale deal on track and that NXP's core business remains strong.
06:19 EDTMNSTMonster Beverage upgraded to Buy from Neutral at Citigroup
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