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Stock Market & Financial Investment News

News Breaks
January 3, 2014
08:56 EDTAMCC, FNSR, JMBA, FEYE, CNDO, GGS, S, EXC, RFIL, MU, GRPNOn The Fly: Pre-market Movers
HIGHER: FireEye (FEYE), up 23% after announcing a deal to acquire cybersecurity firm Mandiant and raising its bookings and revenue expectations... Global Geophysical (GGS), up 11% after deal for sale of AutoSeis HDR systems... Finisar (FNSR), up 3% after upgraded at Raymond James. LOWER: Jamba (JMBA), down 3.3% after downgraded at Wedbush... Groupon (GRPN), down 1.3% after filing to sell 13.8M shares of common stock for holder... Sprint (S), down 2% following downgrade at Stifel... Micron (MU), down 2% after downgraded at RBC Capital... RF Industries (RFIL), down 21.5% after reporting preliminary Q4 results... Coronado (CNDO), down 4% following downgrade at Oppenheimer... Applied Micro (AMCC), down 2.6% after downgraded at BMO Capital... Exelon (EXC), down 1.4% after being downgraded at Citigroup and BofA Merrill Lynch.
News For FEYE;GRPN;S;JMBA;MU;GGS;FNSR;RFIL;CNDO;AMCC;EXC From The Last 14 Days
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August 18, 2015
10:00 EDTFEYEOn The Fly: Analyst Upgrade Summary
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09:51 EDTFEYEFireEye called top-tier security vendor in new upgrade
Shares of FireEye (FEYE) are getting a boost after Imperial Capital highlighted the company's "significant progress" when upgrading its rating on the name. California-based FireEye is a provider of cybersecurity solutions. UPGRADE: Imperial Capital analyst Michael Kim upgraded FireEye to Outperform from In-Line this morning in a note to investors, citing a favorable risk/reward at current share levels. The stock trades at the lower valuation end of similar high-growth security vendors, Kim tells investors in a research note. He believes FireEye is making "significant progress" on driving higher sales productivity and margin expansion. Ramping global adoption of the company's platform has made FireEye a top-tier security vendor, Kim argues. He raised his price target for shares to $55 from $45.50. NOT ALONE: Kim is not alone in recommending stocks in the cybersecurity space. Analysts at Piper Jaffray and Wells Fargo last week highlighted security names that they view as attractive investments. CyberArk Software (CYBR), Barracuda Networks (CUDA) and Fortinet (FTNT) were among the stocks recommended by the firms. Piper Jaffray analyst Andrew Nowinski said the recent pullback in the sector is an attractive buying opportunity. Stocks with the most attractive valuations include Barracuda, CyberArk, Fortinet and Palo Alto Networks (PANW), he told investors last week. Wells Fargo analyst Gray Powell last week upgraded Israel-based CyberArk to Outperform from Market Perform saying the company's billings growth as well as its sales and marketing efficiencies are "exceeding peers by a wide margin. HACKS CONTINUE: High-profile cyber attacks continue with the Internal Revenue Service yesterday raising the number of accounts that were compromised in a data breach earlier this year. In May, the IRS revealed that 114,000 tax accounts through its "Get Transcript" application were exposed to thieves. Yesterday, the agency said a recent review revealed approximately 220,000 additional tax accounts may have been breached, bringing the total number of victims up to 334,000. Shares of FireEye are up 56c to $44.21 in early trading. CyberArk is up 13c to $60.06 while Proofpoint (PFPT), a company focused on securing email communication, is up 16c to $65.06.
09:39 EDTMUActive equity options trading on open
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06:14 EDTFNSRFinisar initiated with a Market Perform at Northland
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05:55 EDTMUDRAMeXchange: Global mobile DRAM revenue up 7.7% in Q2, DigiTimes reports
Global sales of mobile DRAM increased 7.7% sequentially to $3.85B while global sales of overall DRAM decreased 4.8% to $11.4B in Q2, reports DigiTimes, citing DRAMeXchange. Mobile DRAM prices were less affected by falling prices for PC DRAM chips when compared to other types of DRAM. Prices for PC DRAM chips, which fell 15% in July, are forecast to drop an overall 30% in the third quarter of 2015. Reference Link
05:29 EDTFEYEFireEye upgraded to Outperform from In-Line at Imperial Capital
Imperial Capital analyst Michael Kim upgraded FireEye to Outperform citing a favorable risk/reward at current share levels. The stock trades at the lower valuation end of similar high-growth security vendors, Kim tells investors in a research note. He believes FireEye is making "significant progress" on driving higher sales productivity and margin expansion. Kim raised his price target for shares to $55 from $45.50. The cybersecurity provider closed yesterday up 64c to $43.65.
August 17, 2015
18:12 EDTSSprint to move away from two-year contracts, WSJ says
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16:00 EDTMUOptions Update; August 17, 2015
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14:27 EDTFEYEIRS says cyber attack larger than originally thought, AP says
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13:11 EDTGRPNAlibaba unlikely to make competing offer for zulily, say Baird
zulily (ZU) shareholder Alibaba (BABA) is unlikely to make a competing takeover bid for the online retailer, Baird analyst Colin Sebastian tells investors in a research note. Alibaba, which upped its stake in zulily to 9% in May, likely views the company as an investment rather than a vehicle to enter the U.S. market, Sebastian argues. This morning, Liberty Interactive (QVCA) announced it had reached an agreement to acquire zulily for $18.75 per share or $2.4B. The analyst sees strategic benefits from the deal. Increased takeover activity in the small-cap internet space could support the valuations of the remaining independents, including ChannelAdvisor (ECOM), Yelp (YELP), Groupon (GRPN), Angie's List (ANGI) and RetailMeNot (SALE), Sebastian writes. Shares of zulily are soaring 47% to $18.50 following the takeover agreement.
11:11 EDTMUAnalysts split on Micron after analyst day
Analysts were divided on the outlook for flash memory product maker Micron (MU) following its analyst day. Wells Fargo upgraded the stock to Market Perform from Underperform and Piper Jaffray said that the stock was unlikely to drop much further. However, Bank of America/Merrill and Wedbush cut their rating on the shares to Neutral from Buy. UPGRADE: Wells Fargo upgraded Micron to Market Perform from Underperform. Following the stock's decline over the last few months, the shares "reflect a more realistic view" of the flash memory sector's outlook, the firm stated. Additionally, the sector's financial condition has improved in recent years, which should boost the sector's profits and margins over the longer term, Wells Fargo stated. However, the firm still believes that the company is facing several risks, including falling prices for DRAM, a widespread form of flash memory, and its rising capital spending. Although Micron is facing "challenging near-term conditions," including a weak PC market, the company outlined many positive aspects of its business, according to Piper Jaffray analyst Ruben Roy. The longer term trends for the flash memory sector remain positive, as consolidation, low supply growth and diversifying demand should increase the profits of suppliers, Roy believes. And although Micron said its capital spending would be above expectations, Roy expects these investments to help the company enhance its manufacturing process and efficiency, boosting its performance over the longer term. Micron may miss estimates in the short-term but its share price is unlikely to drop much further, and its performance should improve significantly next year, according to Roy. He kept an Overweight rating on the stock. BEARISH TAKE: The DRAM supply/demand dynamic probably won't improve and Micron's cost reductions probably won't outpace price declines until mid-2016, according to Wedbush analyst Betsy Van Hees. Although Van Hees believes that the company's spending will help it over the longer term, she forecast that the stock would "continue to struggle" until the DRAM supply/demand dynamic stabilizes. The analyst cut her price target on the name to $19 from $26. Micron's decision to raise its capital spending suggests that it is "overconfident" in its new chips, according to Bank of America/Merrill Lynch analyst Simon Dong-je Woo. The margins on the new chip "could easily" be negative, the analyst believes. Woo thinks that Micron's capital expenditures next year should be $3B-$4B versus the company's guidance of $5.3B-$5.8B. The analyst's target on the name fell to $19 from $28.40. PRICE ACTION: In late morning trading, Micron lost 0.2% to $17. Earlier the stock reached a new 52-week low of $16.12. The shares of another flash memory product maker, SanDisk (SNDK), were flat at $58.
10:09 EDTMUOn The Fly: Analyst Downgrade Summary
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09:51 EDTMUFollow-up: Micron downgraded to Neutral on capex hike at BofA/Merrill
As previously reported, BofA/Merrill downgraded Micron to Neutral from Buy. The firm said the unexpected FY16 capex hike may reflect overconfidence by management for new chips and could cause execution and earnings misses.. Additionally, BofA/Merrill said Hynix's capex increase is likely to be material and could lead to capex increases by rivals. The firm lowered its price target on shares to $19 form $28.40.
09:38 EDTMUActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
09:16 EDTMUMicron downgraded to Neutral from Buy at BofA/Merrill
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08:22 EDTSSprint customers can upgrade iPhone anytime, included in monthly rate
Sprint (S) announced that customers can upgrade their Apple (AAPL) iPhone anytime, included in their monthly rate. New and upgrade eligible Sprint customers can get iPhone for just $22 per month with iPhone Forever. Anytime customers don't have the latest iPhone, they are eligible to upgrade. They bring their iPhone, upgrade on the spot and away they go. It's that simple. iPhone Forever is available on any eligible Sprint rate plan and upgrade eligibility is always included in your price. New or existing customers who are upgrade eligible can bring in any smartphone and get a 16GB iPhone 6 model and their monthly rate will be reduced to just $15 until their next upgrade. As a special promotion, customers who get iPhone 6 and upgrade before December 31 continue with the discount price of $15 until their next upgrade.
07:30 EDTMUMicron weakness from concerns with investment returns, says Susquehanna
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07:01 EDTMUMicron downgraded to Neutral from Outperform at Wedbush
07:00 EDTMUMicron upgraded to Market Perform from Underperform at Wells Fargo
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06:31 EDTMUMicron share downside limited from here, says Piper Jaffray
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