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Stock Market & Financial Investment News

News For ERIC;ALU;BRCM;QCOM;NXPI;JNPR;CIEN From The Last 14 Days
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October 23, 2014
12:49 EDTJNPRJuniper Seagate weekly volatility increases into Q3 and outlook
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11:29 EDTJNPRJuniper to host investor day
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11:23 EDTNXPINXP Semiconductors shares defended at Sterne Agee
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10:01 EDTALUOn The Fly: Analyst Upgrade Summary
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09:04 EDTNXPIOn The Fly: Pre-market Movers
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09:02 EDTNXPINXP Semiconductors shares should be bought, says Sterne Agee
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07:26 EDTALUAlcatel-Lucent upgraded to Hold from Underperform at Jefferies
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06:05 EDTERICApple defeats GPNE civil patent suit, Re/code reports
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October 22, 2014
20:03 EDTNXPINXP Semiconductors sees Q4 EPS $1.26-$1.36, consensus $1.28
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20:01 EDTNXPINXP Semiconductors reports Q3 EPS $1.35, consensus $1.30
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16:33 EDTBRCMOn The Fly: Closing Wrap
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15:30 EDTNXPINotable companies reporting after market close
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10:03 EDTBRCMThe Linley Group to hold a conference
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09:21 EDTBRCMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
October 21, 2014
18:36 EDTBRCMOn The Fly: After Hours Movers
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17:37 EDTBRCMBroadcom says in better strategic position for share buybacks vs. last quarter
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16:58 EDTBRCMBroadcom says broadband/connectivity business to be down in Q4
Says continues to see solid growth in set top boxes. Expects to incur $60M in restructuring charges over next 12 months. Comments from company's Q3 earnings conference call.
16:52 EDTBRCMBroadcom reports Q3 adjusted product gross margin 54.3%
16:39 EDTBRCMBroadcom sees Q4 GAAP revenue about $2B-$2.15B, consensus $2.11B
Sees Q4 non-GAAP gross margin 55%, plus or minus 75bps.
16:27 EDTBRCMBroadcom up over 4% following Q3 results, Q4 guidance
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16:09 EDTBRCMBroadcom sees Q4 GAAP product gross margin 53% plus or minus 75bps
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16:08 EDTBRCMBroadcom CEO says delivered record quarterly revenue in Q3
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16:05 EDTBRCMBroadcom reports Q3 adjusted EPS 91c, consensus 84c
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15:30 EDTBRCMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
14:19 EDTBRCMBroadcom volatility elevated into Q3 and outlook
Broadcom October weekly call option implied volatility is at 65, November is at 28, December is at 27, January is at 25; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today after the market close.
14:04 EDTNXPI, QCOM, BRCMEarnings Preview: Analysts divided on Broadcom ahead of Q3 report
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12:36 EDTNXPINXP Semiconductors loses Samsung Galaxy phone NFC business, NFC Times says
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07:05 EDTBRCMMicrosemi introduced its new RPF technology
Microsemi (MSCC) introduced at the Broadband World Forum, or BBWF, 2014 its new reverse power feed, or RPF, technology, a critical technology for FTTdp and G.fast deployments. G.fast, the new xDSL standard for 1gbps over copper, has a maximum expected range of 250 meters. Microsemi's RPF for DSL applications demonstrated at BBWF, are designed to be used in conjunction with the VDSL2 and G.fast chipsets from Broadcom (BRCM).
October 20, 2014
18:51 EDTNXPIOn The Fly: After Hours Movers
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18:22 EDTNXPISkyworks Solutions, Cirrus Logic, others higher after Apple reports Q4 results
The following stocks are moving higher in the after hours following Apple's Q4 results: ARM Holdings (ARMH) is up 1.1%, Skyworks Solutions (SWKS) is higher by 2.2% ,NXP Semiconductors (NXPI), up 2.28%,Cirrus Logic (CRUS) is up 2%, RF Micro Devices (RFMD) gains 1.53% and Avago Technologies (AVGO) is up 1.17%.
October 15, 2014
07:50 EDTNXPINXP Semiconductors weakness a buying opportunity, says Canaccord
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07:37 EDTBRCMBroadcom pullback a buying opportunity, says Canaccord
Canaccord said the pullback in Broadcom due to weakness in the semiconductor space is a buying opportunity. The firm believes the company is well positioned for steady long-term growth in its Home and Infrastructure businesses. Canaccord reiterates its Buy rating on Broadcom but lowers its price target to $45 from $46.
05:58 EDTQCOMCSR calls Qualcomm takeover offer 'very attractive outcome'
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05:35 EDTQCOMQualcomm to acquire CSR for GBP 9.00 per share
Qualcomm (QCOM) announced that it has reached agreement with CSR plc (CSRE) regarding the terms of a recommended cash acquisition through which the entire issued and to be issued ordinary share capital of CSR will be acquired by Qualcomm Global Trading Pte. Ltd, an indirect wholly owned subsidiary of Qualcomm Incorporated. The acquisition complements Qualcomm's current offerings by adding products, channels, and customers in the important growth categories of Internet of Everything, or IoE, and automotive infotainment, accelerating Qualcomm's presence and path to leadership. This opportunity is aligned with Qualcomm's established strategic priorities in these rapidly growing business areas. At GBP 9.00 per share, the acquisition of the entire issued and to be issued ordinary share capital of CSR is valued at approximately $2.5B. This cash offer has been unanimously recommended by the CSR board. The acquisition is subject to a number of conditions as set forth in the announcement released today in accordance with Rule 2.7 of the UK Takeover Code, including the receipt of U.S. and other regulatory approvals and the approval of CSR's shareholders. Subject to the satisfaction of the conditions, the transaction is expected to close by the end of the summer of 2015. Qualcomm expects the acquisition to be accretive to Non-GAAP EPS in FY16, the first full year of combined operations.
October 14, 2014
10:10 EDTNXPIChip makers rise following Skyworks positive preannouncement
Shares of a number of semiconductor makers are climbing after one of the companies in the sector, Skyworks (SWKS), preannounced stronger than expected results. WHAT'S NEW: Skyworks, which develops chips for cell phones, raised its fourth quarter earnings per share outlook to $1.08 from $1.00. Analysts' consensus estimate was $1.01. The chip maker increased its Q4 revenue guidance to $718M from $680M. Analysts' consensus estimate was $679.5M. "Skyworks’ upwardly revised outlook demonstrates the broad-based strength of our business and our ability to capitalize on positive underlying market trends to connect everyone and everything, all the time,” said Skyworks CEO David Aldrich. "These multi-year technology trends are setting the stage for us to outperform the broader semiconductor industry in the December quarter and for the foreseeable future," the CEO added. WHAT'S NOTABLE: Skyworks' positive report comes less than a week after another semiconductor maker, Microchip (MCHP), preannounced lower than expected revenue and said it thought the sector had entered a correction. Semiconductor stocks have sold off sharply since Microchip's preannouncement and pessimistic comments. PRICE ACTION: In early trading, Skyworks surged 6.4% to $48.24, Intel (INTC) rose 1.5% to $31.94, NXP Semiconductors (NXPI) rose 1.2% to $54.55, STMicroelectronics (STM) advanced 2% to $6.82, and Avago Technologies (AVG) gained fractionally to $69.30.
09:13 EDTNXPIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Johnson & Johnson (JNJ), up 1%... Dominos Pizza (DPZ), up 2.7%. ALSO HIGHER: Citigroup (C), up 2.5% following earnings report, announcement of plans to exit consumer businesses in 11 markets... MagneGas (MNGA), up 14% after signing Letter of Intent with Pioneer Recycling... Skyworks (SWKS), up 6% after raising its outlook for Q4. Shares of peers Avago (AVGO), NXP Semiconductors (NXPI) and RF Micro Devices (RFMD) are also moving higher in pre-market trading after Skyworks pointed to "broad-based strength" of its business in raising its outlook... Halcon Resources (HK), up 6% after upgraded at KLR Group... Quantum (QTM), up 8.8% after issuing Q2 earnings guidance. LOWER: Wells Fargo (WFC), down 1.4% after reporting in-line Q3 earnings... JPMorgan (JPM), down 1.8% after Q3 headline earnings miss... Las Vegas Sands (LVS), down 1% following downgrade at BofA Merrill Lynch.
08:55 EDTNXPIBarclays top ideas in U.S. Semiconductors on the pullback
Barclays' top U.S. Semiconductor ideas to buy on the pullback are Avago (AVGO), Cavium (CAVM), Spansion (CODE), NXP Semiconductors (NXPI) and Xilinx (XLNX).
08:50 EDTNXPIAvago, NXP rally after Skyworks ups outlook on 'broad-based strength'
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07:24 EDTQCOMIntel gains government ally in China with new deals, Reuters says
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06:37 EDTQCOMUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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October 13, 2014
10:08 EDTJNPROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
09:23 EDTJNPRHP could buy lower valuation company, says Bernstein
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07:23 EDTJNPRJuniper downgraded to Hold from Buy at Argus
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05:15 EDTERICFacebook, Ericsson, XL Axiata innovate to improve Indonesia network performance
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October 12, 2014
17:20 EDTQCOMGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
14:27 EDTNXPINXP Semiconductors breaks long-term uptrend line, levels to watch
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13:50 EDTNXPINXP Semiconductors buy on weakness, says Sterne Agee
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10:29 EDTNXPIMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.” ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
10:20 EDTNXPISemiconductors defended at Sterne Agee
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10:09 EDTJNPRJuniper falls after earnings warning, levels to watch
Shares are down over 6% to $19.68 at time of writing. At that price next support is at $19 and then at $18.56. Resistance is at $20.49.
09:00 EDTJNPROn The Fly: Pre-market Movers
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07:47 EDTJNPRJuniper results could rebound in 2015, says Wells Fargo
After Juniper negatively preannounced its Q3 results, Wells Fargo thinks improved carrier spending, continued enterprise share gains and restructuring efforts could enable the company's results to improve in 2015. The firm cut its price target on the stock to $25-$27 from $28-$30. It keeps an Outperform rating on the shares.
07:27 EDTJNPRJuniper price target lowered to $27 from $29 at UBS
UBS lowered its price target on Juniper to $27 from $29 following the company's negative pre-announcement. The company cited lower than anticipated U.S. demand and UBS believes the downside earnings risk is limited by lower operating expenses and lower variable compensation. UBS maintains its Buy rating on Juniper.
07:03 EDTJNPRJuniper price target lowered to $25 from $29.50 at Cantor
Cantor cut its price target on Juniper after the company lowered its Q3 guidance. However, the firm keeps a Buy rating on the shares.
October 9, 2014
18:47 EDTJNPROn The Fly: After Hours Movers
UP AFTER EARNINGS: Helen of Troy (HELE), up 3%... Barracuda Networks (CUDA), up marginally after reporting second quarter results. ALSO HIGHER: Sucampo Pharmaceuticals (SCMP), up 19.2% after announcing settlement agreement resolving patent litigation on AMITIZA... Civeo (CVEO), up 15% after Greenlight Capital reported a 9.99% stake in the company... EXCO Resources (XCO), up 10.6% after T. Boone Pickens says that company approached by buyers, reported by Bloomberg... EXACT Sciences (EXAS), up 3.7% after announcing final national coverage determination for Cologuard... US Ecology (ECOL), up 2.5% following announcement that it will replace Measurement Specialties (MEAS) in S&P 600. DOWN AFTER EARNINGS: Procera Networks (PKT), down 19.3%... Sizmek (SZMK), down 13.9% following third quarter revenue guidance... VOXX International (VOXX), down 12.5%... Knowles (KN), down 8.1% after lowering third quarter guidance... Microchip (MCHP), down 8.2% after lowering second quarter guidance... Juniper Networks (JNPR), down 3.6% after lowering third quarter outlook. ALSO LOWER: GT Advanced Technologies (GTAT), down 23.3% following a Bloomberg report that it will as to wind down sapphire operations.
16:20 EDTJNPRJuniper down 5% after lowering Q3 outlook
16:17 EDTJNPRJuniper reports preliminary Q3 adjusted EPS 34c-36c, consensus 38c
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10:55 EDTALUAlcatel-Lucent upgraded to Buy from Hold at Craig-Hallum
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07:13 EDTERICEricsson reinstated with an Underperform at BofA/Merrill
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