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Stock Market & Financial Investment News

News Breaks
January 29, 2013
10:27 EDTSTX, CSCO, FIO, INTCFusion-io retreats after Seagate invests in competitor
Fusion-io (FIO), which develops flash data storage products, is falling after hard drive maker Seagate (STX) announced last night that it would invest $40M in Fuison-io's competitor, Vident. Under the deal, Seagate will immediately begin offering Vident's products to its customers. Seagate and Vident will also collaborate on the development of other data storage products, the companies stated. In a note to investors earlier today, Piper Jaffray analyst Andrew Nowinski wrote that Seagate's investment in Vident shows that Seagate has confidence in the flash storage market. In addition, the deal will likely cause Fusion-io's valuation in any merger or acquisition transaction to increase, the analyst believes. While the deal between Seagate and Virdent will give the latter company access to more customers, the competitive dynamic between Vident and Fuison-io hasn't changed, according to Nowinski. Virdent has already received investments from a number of large companies including Cisco (CSCO) and Intel (INTC), and those deals haven't slowed Fusion-io's growth, Nowinski explained. The analyst maintained a $33 price target and Buy rating on Fusion-io, which fell 98c, or 4.77%, to $19.56 in mid-morning trading. Meanwhile, Seagate tumbled $3.17, or 8.47%, to $34.24 following its earnings report last night.
News For FIO;STX;INTC;CSCO From The Last 14 Days
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December 17, 2014
10:14 EDTSTXHP best way to play coming PC sales outperformance, Citi says
Sales of PCs will be at least flat next year, before growing slightly in 2016 and 2017, Citigroup wrote in a note to investors today. The firm identified HP (HPQ) as the best way to play better than expected PC sales. WHAT'S NEW: Although many believe that PCs will become extinct, there are several reasons why sales of personal computers will begin growing again, Citi analyst Jim Suva contended. Sales of commercial PCs in emerging markets should increase over the long-term, as those PCs are aging, according to Suva. He estimated that commercial PCs in emerging markets account for 27% of the total PC market. Meanwhile, tablets were supposed to replace PCs, but tablet sales growth slowed to just 8% this year, indicating that tablets are becoming less of a threat to PCs, he wrote. Additionally, some believe that PC demand was inflated by a rush to replace computers running Microsoft's (MSFT) Windows XP operating system this year after the company stopped supporting XP, but Suva believe that PC demand growth in 2014 was more driven by a need to buy new computers following a lull in growth in 2012-2013 than by the XP situation. As a result, the analyst estimates that the XP phenomenon will only reduce next year's PC growth by 1%, versus the 3%+ reduction that investors fear. HP is the best way to play the PC rebound, wrote Suva, who raised his price target on the company's shares to $46 from $40 and kept a Buy rating on the stock. WHAT'S NOTABLE: Suva raised his price target on hard disk drive maker Western Digital (WDX) to $125 from $110 and on its competitor, Seagate (STX), to $74 from $70, as he noted that the companies obtain about 50% of their revenue from PCs. He kept Buy ratings on both names. PRICE ACTION: In early trading, Hewlett-Packard gained 2.7% to $38.32, Western Digital rose 1.7% to $106.30, and Seagate climbed 1% to $63.89.
08:55 EDTINTCJD.com signs partnership pact with Intel on shopping tech, Marbridge Daily says
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06:25 EDTSTXWestern Digital price target raised to $125 from $110 at Citigroup
Citigroup raised its price target for Western Digital (WDC) shares to $125 on expectations PCs will return to positive growth in 2016-2017. Citi believes Western Digital will benefit if its thesis on PCs proves correct. It also raised its price target for Seagate (STX) shares to $74 from $70. Citi keeps a Buy rating on both stocks.
December 16, 2014
11:31 EDTINTCRackspace looks to reduce reliance on Intel chips, Bloomberg says
Rackspace Hosting (RAX), which has been testing server computers based on IBM (IBM) Power chip designs, is looking to reduce its reliance on Intel (INTC) chips as it shifting to some server computers based on modified International Business Machine processors, says Bloomberg. Reference Link
December 11, 2014
15:31 EDTCSCOCisco CEO: CIA report won't hurt company, trusted worldwide
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December 10, 2014
10:10 EDTCSCOCisco intends to acquire security advisory company Neohapsis
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07:36 EDTCSCOCisco to hold a conference
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December 9, 2014
10:23 EDTCSCOOn The Fly: Analyst Initiation Summary
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08:19 EDTCSCOCisco outlook has improved, says RBC Capital
RBC Capital believes that Cisco's negative catalysts are diminishing. The firm thinks the stock is being boosted by its successful efforts to keep its gross margin at or above the 61%-62% range, as well as a rebound in its switching business. RBC recommends buying the stock on dips and keeps a $29 price target and Outperform rating on the name.
07:41 EDTSTX, CSCOBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link
06:39 EDTCSCOCisco initiated with an Outperform at Wedbush
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December 8, 2014
12:40 EDTCSCOUS Supreme Court to hear appeal in patent fight with Cisco
The U.S. Supreme Court has agreed to hear an appeal of a controversial appeals court decision that set aside a $63.8M patent infringement verdict won by The Woodlands, Texas-based Commil USA LLC against Cisco
08:40 EDTCSCODeutsche Bank and Cisco to host a conference call
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08:02 EDTCSCOAruba says NHS replaces Cisco network with Aruba wireless infrastructure
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07:49 EDTCSCOArista Networks lawsuit not as threatening as believed, says SunTrust
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07:32 EDTCSCORaymond James to hold a conference
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07:28 EDTSTXFBN Securities to hold a bus tour
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07:03 EDTCSCOArista Networks patent resolution likely 2-3 years away, says Citigroup
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December 5, 2014
10:49 EDTCSCOCisco confirms two patent suits filed against Arista Networks
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10:45 EDTCSCOCisco files patent infringement complaints against Arista Networks
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