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Stock Market & Financial Investment News

News Breaks
August 5, 2014
08:47 EDTDTLK, NMBL, EMC, WDC, CVLT, STX, NTAPIT storage sector looks set to rebound in 2H14, says Pacific Crest
Pacific Crest believes that positive supply chain commentary from a number of companies including Seagate (STX), Datalink (DTLK) and Western Digital (WDC), along with positive results from the firm's CIO survey, suggest that the storage sector will recover in the second half of 2014. The firm remains upbeat on EMC but sees more upside in NetApp (NTAP), CommVault (CVLT), and Nimble Storage (NMBL). The firm keeps Outperform ratings on EMC, NetApp, CommVault, and Nimble Storage.
News For EMC;NTAP;CVLT;NMBL;STX;WDC;DTLK From The Last 14 Days
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July 2, 2015
07:29 EDTWDC, STXSeagate, Western Digital should be bought after earnings, says Citi
Citi sees near-term risk to shares of Seagate (STX) and Western Digital (WDC) due a "high probability" of weaker than expected Q2 results with a "significant" guide-down for Q3. PC demand has continued to deteriorate, which will weigh on the results of hard-disk-drive companies, Citi tells investors. The firm, however, believes the shares of both companies should be bought on the post-earnings weakness. It believes Q3 outlooks could bring the last cut to earnings estimates. Citi lowered its price target for Seagate to $55 from $63 and for Western Digital to $100 from $115. It keeps a Buy rating on both names.
July 1, 2015
06:01 EDTNTAPStocks with implied volatility below IV index mean; MU NTAP
Stocks with implied volatility below IV index mean; Micron (MU) 38, NetApp (NTAP) 23 according to iVolatility.
June 30, 2015
06:04 EDTNTAPStocks with implied volatility below IV index mean; MU NTAP
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June 29, 2015
14:53 EDTNTAPBankers see suitors being cool to NetApp amid competition, dealReporter says
Two industry bankers said NetApp’s worsening performance and rising competition are leading to little or no strategic interest from potential suitors, reported dealReporter, according to contacts.
10:02 EDTEMCHP deal for EMC 'more than a distinct possibility,' says Raymond James
Noting that shares of both HP (HPQ) and EMC (EMC) have been stagnant, Raymond James analyst Brian Alexander repeated that he believes shareholders of both would earn substantial returns from a deal between the two and that he thinks an HP acquisition of EMC is "more than a distinct possibility." Alexander previously said in a note to investors on June 4 that he believed HP will ultimately buy EMC, including VMware (VMW). Assuming EMC is acquired for $32-$34 at various combinations of debt/stock, accretion for HP ranges from 39%-52%, Alexander calculates. Raymond James has a Market Perform rating on HP, a Strong Buy rating on EMC and an Outperform rating on VMware.
08:08 EDTSTX, WDCJefferies sees recent weakness as attractive entry point in PC names
Jefferies analyst James Kisner cut his PC unit expectations for 2015 and 2016, citing recent negative data points including Micron's (MU) commentary and guidance, but added that he believes PC names may be finding a bottom and that the pullback in Western Digital (WDC), Seagate (STX), and HP (HPQ) creates an attractive entry point in all three stocks. Kisner sees the most potential upside in Western Digital, but lowered his price target on its shares to $116, and said HP may have the least potential downside, cutting his price target on the computer maker to $40.50. The firm keeps Buy rating on both HDD makers and on HP.
June 25, 2015
17:56 EDTSTXMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
07:03 EDTNTAPNetApp did little to alleviate investor concerns, says Piper Jaffray
Piper Jaffray analyst Andrew Nowinski says NetApp's tech talk with new CEO George Kurian did little to alleviate investor concerns since no new initiatives were revealed. New management is continuing to execute the "failed strategy" that prior management initiated, Nowinski tells investors in a research note. He views shares as fairly valued and keeps a Neutral rating on NetApp.
June 23, 2015
12:54 EDTWDC, STXPC concerns weighing on shares of Seagate, Western Digital
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10:00 EDTWDCOn The Fly: Analyst Downgrade Summary
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06:25 EDTWDC, STXWestern Digital downgraded to Neutral from Overweight at JPMorgan
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June 22, 2015
08:39 EDTCVLTCommVault growth, margins appear to be bottoming, says Pacific Crest
Pacific Crest believes that CommVault's stock could be re-rated this fall, based on the company's new product cycle and easy comparisons. The firm keeps a $54 price target and Overweight rating on the shares.

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