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January 3, 2014
10:00 EDTCDNS, SIRI, MET, FNSR, AWI, PEG, MXIM, FNF, WR, PPL, INFY, DTEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: DTE Energy (DTE) upgraded to Buy from Neutral at Citigroup... Fidelity National (FNF) upgraded to Buy from Neutral at Janney Capital... Finisar (FNSR) upgraded to Strong Buy from Outperform at Raymond James... Infosys (INFY) upgraded to Overweight from Neutral at HSBC... Maxim Integrated (MXIM) upgraded to Outperform from Market Perform at BMO Capital... MetLife (MET) upgraded to Buy from Neutral at Janney Capital... PPL Corp. (PPL) upgraded to Buy from Neutral at Citigroup... PSEG (PEG) upgraded to Buy from Neutral at Citigroup... Sirius XM (SIRI) upgraded to Overweight from Equal Weight at Evercore... Westar Energy (WR) upgraded to Buy from Neutral at Citigroup... Armstrong World (AWI) upgraded to Buy from Neutral at BofA/Merrill... Cadence Design (CDNS) upgraded to Buy from Hold at Needham.
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November 19, 2015
07:39 EDTSIRISirius XM management to meet with Deutsche Bank
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November 18, 2015
09:23 EDTMXIMTowerJazz to acquire Maxim Integrated facility in San Antonio
TowerJazz (TSEM) has signed an agreement with Maxim Integrated (MXIM) to purchase Maxim's 8-inch fabrication facility in San Antonio, Texas. The proposed purchase will expand TowerJazz's current worldwide manufacturing capacity, cost-effectively increasing production by approximately 28K wafers per month. TowerJazz and Maxim expect to close the transaction in January 2016. As part of the transaction, the companies have also signed a long-term supply agreement for TowerJazz to manufacture products for Maxim in the San Antonio facility. The transaction is to be paid with TSEM ordinary shares with a total value of approximately $40M. All of the site's nearly 500 employees will be retained.
08:19 EDTMXIMRBC Capital to hold a tour
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07:53 EDTSIRISirius XM management to meet with Deutsche Bank
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07:01 EDTMETMetLife says will support Trans-Pacific Partnership
Steven A. Kandarian, chairman, president and CEO of MetLife, issued the following statement on the Trans-Pacific Partnership, a free trade agreement among 12 nations of the Pacific Rim. "After analyzing the text of the TPP, MetLife will support the agreement and seek congressional support for its ratification. As one of the largest life insurers in the world with operations in nearly 50 countries, MetLife has four key priorities in assessing any trade deal: improved market access, a level competitive playing field, ease of cross-border data flows, and regulatory transparency. The TPP makes meaningful progress on all of them. We are confident that ratification of the TPP will lead to faster economic growth, greater choice and lower costs for consumers in the markets where we do business, and more high-paying jobs in the U.S. The agreement is not perfect - no trade deal is - but on balance the TPP represents a significant step in the right direction and deserves to be ratified."
November 17, 2015
10:33 EDTMXIMCiti says Xilinx, not Maxim, likely to be acquired
According to Citi, analog chip maker Maxim Semiconductor (MXIM) probably won't be acquired, despite Bloomberg reports which stated that Texas Instruments (TXN) and Analog Devices (ADI) had held talks about potentially buying the company. The firm sees Xilinx (XLNX) as the only large cap chip maker remaining that has "all of the attributes of a good takeover target." WHAT'S NEW: The only two companies capable of buying Maxim are Texas Instruments and Analog Devices, Citi analyst Christopher Danely wrote in a note to investors today. However, Maxim's valuation is too high for Texas Instruments and the deal would be too big for Analog Devices, the analyst stated. However, Xilinx is a potential takeover target, partly due to its high margins, a size large enough that it could impact an acquirer's profits and its cost cutting opportunities, Danely stated. One potential acquirer of Xilinx is Qualcomm (QCOM), which has suggested that it could be interested in M&A opportunities in the future, the analyst wrote. Despite his belief that Xilinx could be acquired, Danely kept a Neutral rating on the shares. WHAT'S NOTABLE: On October 14, Bloomberg reported that Analog Devices and Maxim were in merger talks. On October 28, the news service reported that Texas Instruments was in talks about buying Maxim. According to Bloomberg, Maxim was working with a bank on a strategic review before it was approached by Analog Devices. Maxim may not want to sell itself unless it receives a large premium, the news service stated. PRICE ACTION: In early trading, Maxim was flat near $38.86 per share, while Xilinx gained 1.5% to $47.83.
10:01 EDTSIRIAudi selects Sirius XM Connective Vehicle Services for Audi Connect
Sirius XM (SIRI) and Audi (AUDVF) of America announced that Audi has selected Sirius XM Connected Vehicle Services Inc., a unit of SiriusXM, to power emergency services for the next generation of Audi connect. The new emergency services will be available beginning with the model year 2017 Audi Q7, which goes on sale in January 2016.
08:54 EDTMXIMMaxim could be bidder for Fairchild, says Citi
Citi analyst Atif Malik views Maxim Integrated (MXIM) as a potential acquirer Fairchild Semiconductor (FCS). Bloomberg on October 13 reported that Fairchild was seeking advice for a potential sale, and listed potential acquirers as STMicroelectronics (STM), Infineon (IFNNY) and ON Semiconductor (ON). Bids from STM and ON seem unlikely, but Infineon and Maxim could be potential acquirers of Fairchild, Malik tells investors in a research note. In a bull case scenario, Fairchild's buyout value could reach $25 per share, the analyst contends. Fairchild closed yesterday at $17.76. Malik's peer at Citi, analyst Christopher Danely, argued today in research note that Maxim Integrated (MXIM) is unlikely to get acquired despite reports of interest from Analog Devices (ADI) and Texas Instruments (TXN). Danely views Xilinx (XLNX) as a potential takeout target, potentially for Qualcomm (QCOM).
08:37 EDTMXIMCiti sees Xilinx, not Maxim, as potential takeout candidate
Citi analyst Christopher Danely says he does not expect Maxim Integrated (MXIM) to get acquired despite reports of interest from Analog Devices (ADI) and Texas Instruments (TXN). Xilinx (XLNX) is the only large-cap semiconductor company left with "all of the attributes of a good takeover target," Danely tells investors in a research note. He believes Xilinx management could be willing sellers at the right price, and points out Qualcomm (QCOM) has a history of doing deals. Xilinx could make a good candidate for Qualcomm, Danely contends.
November 16, 2015
14:15 EDTPEGPSEG announces approval of $905M program to replace aging gas infrastructure
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