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Stock Market & Financial Investment News

News Breaks
May 9, 2014
08:25 EDTALU, FNSR, AVGO, CSCOCisco, Avago reports should be watched for clues on Finisar, says Janney Capital
Janney Capital notes that Finisar (FNSR) shares are down about 20% over the last two weeks amid earnings reports from a number of optical suppliers that have shown telecom to be weaker, but the firm says demand for datacom, which makes up more of Finisar's revenue mix, is still strong. The firm recommends watching the reports from peer Avago (AVGO) and customers Alcatel (ALU) and Cisco (CSCO) for more data ahead of Finisar's report in early June. Janney maintains its Buy rating on Finisar.
News For FNSR;CSCO;AVGO;ALU From The Last 14 Days
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August 4, 2015
10:01 EDTCSCOOn The Fly: Analyst Initiation Summary
Arista Networks (ANET) initiated with a Neutral at Macquarie... Autodesk (ADSK) initiated with an Outperform at William Blair... Equifax (EFX) initiated with an Outperform at RBC Capital... FirstMerit (FMER) initiated with an Overweight at Stephens... G-III Apparel (GIII) initiated with a Hold at Brean Capital... Healthstream (HSTM) initiated with a Market Perform at Raymond James... LinkedIn (LNKD) initiated with a Buy at Topeka... Lumentum (LITE) initiated with a Buy at Needham... Macquarie starts Cisco (CSCO) with Underperform, says Street estimates too high... Milacron (MCRN) initiated with a Buy at BofA/Merrill... Natera (NTRA) initiated with an Outperform at Baird... Netflix (NFLX) initiated with a Buy at Guggenheim... Old National Bancorp (ONB) initiated with an Overweight at Stephens... Talmer Bancorp (TLMR) initiated with an Equal Weight at Stephens... TransUnion (TRU) initiated with a Buy at Deutsche Bank... Twitter (TWTR) initiated with a Hold at Topeka... VF Corp. (VFC) initiated with a Buy at Canaccord... Viavi (VIAV) initiated with a Hold at Needham.
08:37 EDTALUPolycom extends communications relationship with Alcatel-Lucent
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06:54 EDTCSCOMacquarie starts Cisco with Underperform, says Street estimates too high
Macquarie initiated Cisco with an Underperform rating and $26 price target. The firm is not making a call on the upcoming quarter, but on longer-term trends. Macquarie believes forward consensus estimates are too optimistic and expects the enterprise switching market to contract due to a combination of denser compute, migration of enterprise server workload to hyperscale/cloud, and adoption of wireless/mobility which will reduce switch port demand. The firm also has concerns Service provider market headwinds could increase, emerging markets will remain tepid, and the Intercloud strategy will not have a significant impact near-term, all of which will lead to flat earnings growth in 2016.
July 31, 2015
08:06 EDTCSCOCisco should report strong July quarter results, says Oppenheimer
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July 30, 2015
17:40 EDTAVGOIRS not assuring Broadcom Holders that Avago takeover tax-free, WSJ says
The IRS is not assuring that the Avago (AVGO) takeover of Broadcom (BRCM) will be tax-free to Broadcom shareholders, says the Wall Street Journal. Reference Link
12:26 EDTAVGOAvago guided 2015 adjusted earnings above consensus
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July 29, 2015
10:36 EDTCSCOLockheed Martin launches healthcare technology alliance
Lockheed Martin (LMT) announced the formation of a new healthcare technology alliance, combining the expertise of health IT providers, medical technology companies, and academic institutions to advance public health. The Lockheed Martin Healthcare Technology Alliance's founding members include: Cisco (CSCO), Cloudera, Illumina (ILMN), Intel (INTC) and Montgomery College. The members of the Lockheed Martin Healthcare Technology Alliance will collaborate on technology solutions that help improve care in rapidly evolving and growing areas of health technology such as those that: secure patient medical information; leverage advances in genomic research; and apply big data solutions to improve public health.
July 27, 2015
11:18 EDTCSCOCisco's new CEO names Biri Singh as CTO, Kevin Brandy as CDO
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July 26, 2015
15:07 EDTCSCOCisco CEO to add 'key external hires' to management team, Barron's says
Cisco CEO Chuck Robbins told Barron's in an interview that "I think itís fair to say I bring the ability to move faster [than predecessor John Chambers] just in how I structure the teams and how I will interact with them," adding that he plans "some key external hires," potentially in cloud computing and security. The publication notes that shares of Cisco could jump "sharply higher" if investors start looking at Cisco's potential strength in the Internet-of-Things space. Reference Link
14:44 EDTCSCOAmazon cloud sales signal risk for traditional data storage, Barron's says
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July 24, 2015
13:29 EDTALUAlcatel CEO says Nokia deal may close sooner than expected, Re/code reports
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06:17 EDTCSCOCisco new CEO says to exit Q4 with headcount up
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06:08 EDTALUNokia receives European Commission approval for Alcatel-Lucent acquisition
Nokia (NOK) announced that it has received approval from the European Commission for its pending acquisition of Alcatel-Lucent (ALU). The proposed transaction was notified to the European Commission on June 19, 2015 and was cleared today without conditions following a Phase 1 review. Approval by the European Commission follows previously disclosed antitrust clearances in Brazil and Serbia and the expiration of the antitrust review period in the United States. In addition, the parties confirmed today they have received further antitrust clearances from Albania, Canada, Colombia and Russia. Both companies will continue to cooperate with the remaining authorities to close their reviews as quickly as possible. The transaction remains subject to approval by Nokia shareholders, Nokia holding over 50.00% of the share capital of Alcatel-Lucent on a fully diluted basis upon completion of the public exchange offer, receipt of other regulatory approvals and other customary conditions. The transaction is expected to close in the first half of 2016.
July 23, 2015
06:15 EDTCSCOTechnicolor to acquire Cisco's connected devices unit for EUR550M
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July 22, 2015
14:51 EDTAVGOEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
July 21, 2015
19:00 EDTAVGOOn The Fly: After Hours Movers
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14:24 EDTCSCOEarnings Watch: EMC reports amid M&A speculation in sector
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