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Stock Market & Financial Investment News

News Breaks
April 21, 2014
10:57 EDTGOOGL, ATHN, SNDK, MATOptions with decreasing implied volatility: GOOGL ATHN SNDK SPXU MAT
News For GOOGL;ATHN;SNDK;MAT From The Last 14 Days
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September 30, 2014
13:18 EDTGOOGLTwitter to launch new app development platform, The Information reports
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11:29 EDTGOOGLGoogle could be interested in eBay after spinoff, says Pacific Crest
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September 29, 2014
10:00 EDTMATOn The Fly: Analyst Downgrade Summary
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09:22 EDTMATMattel downgraded to Neutral from Buy at MKM Partners
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09:00 EDTGOOGLGoogle price target raised to $730 from $650 at RBC Capital
RBC Capital increased its price target on Google, as the firm expects the company's core search growth to "remain highly consistent" in the near-term, and it thinks the company has developed three material medium-term growth drivers. It keeps an Outperform rating on the shares.
06:59 EDTMATMattel downgraded to Neutral from Buy at MKM Partners
September 26, 2014
16:55 EDTMATMarket ends week lower after inversion crackdown, mixed data
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11:35 EDTSNDKMicron advances after results, outlook beat expectations
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06:13 EDTGOOGLGoogle checks show accelerating search spend, says Citigroup
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September 25, 2014
17:01 EDTSNDKSanDisk up 1.4% to $98.30 after Micron reports Q4 results
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12:29 EDTSNDKEarnings Preview: Several analysts positive on Micron ahead of Q4 report
Micron (MU) is expected to report fourth quarter earnings after the close on Thursday, September 25, with a conference call scheduled for 4:30 pm ET. Micron manufactures semiconductor devices, principally DRAM, NAND Flash and NOR Flash memory. EXPECTATIONS: Analysts are looking for earnings per share of 81c on revenue of $4.15B. The consensus range is 66c-$1.03 for EPS on revenue of $4.05B-$4.3B, according to First Call. LAST QUARTER: On June 23, Micron reported third quarter EPS of 79c, compared to the 70c consensus estimate of analysts. Micron's quarterly revenue of $3.98B beat expectations for $3.89B. Revenues for both DRAM and NAND Flash products were down slightly for the quarter compared to the prior quarter. The company’s overall consolidated gross margin of 34% for the third quarter was consistent with the second quarter, as mix-related decreases in average selling prices were essentially offset by corresponding decreases in manufacturing costs. STREET RESEARCH: On the day after its last report, Needham upgraded Micron to Strong Buy from Buy and raised its price target for the shares to $50 from $40. The firm said then that it expected NAND gross margins to improve in 2015 and recommended investors look past the company's Q4 margin guidance. On July 31, Goldman and Sterne Agee issued competing views on how comments from Samsung could impact Micron. On that day, Sterne Agee reported that Samsung said its DRAM bit growth in the second half of 2014 would be limited, while its 2015 bit growth will drop compared to this year. The firm saw the guidance as "a major positive" for Micron and SanDisk (SNDK) and kept Buy ratings on both. However, Goldman said Samsung's increased DRAM bit supply growth forecast was an incremental negative for Micron. Goldman continues to have a Neutral rating on shares of Micron. More recently, Sterne Agee said Micron's stock has lagged due to concerns about potentially weaker Q4 DRAM prices and worries about NAND seasonality. The firm thinks these concerns are misplaced and continues to view Micron as a beneficiary of industry consolidation over the long-term. The firm keeps a $40 price target and Buy rating on Micron. Wedbush said it expects Micron's Q4 results to beat consensus expectations and for the company to provide upbeat commentary. The firm thinks that investor sentiment towards the stock has stalled on concerns about unfavorable DRAM supply/demand dynamics in 2015. However, Wedbush remains bullish on memory market dynamics heading into 2015 and keeps a $37 price target and Outperform rating on the shares. UBS believes DRAM and NAND average selling price trends continue to be favorable for Micron in the near to medium term and that the company should report Q4 EPS and revenue that are in line with consensus or better. The firm maintains its Buy rating on Micron and raised its price target on the stock to $36 from $35 ahead of tonight's Q4 report. PRICE ACTION: Since the day after last quarter's report, shares of Micron have advanced about 1%. Ahead of tonight's report, Micron was down over 2% to $31.54 in afternoon trading.
08:22 EDTMATMattel loses key Disney license to Hasbro, says BMO Capital
BMO Capital views Hasbro's (HAS) announcement of a deal Disney (DIS) to acquire the global toys rights to produce and sell dolls based on Disney Princess property starting in 2016 as a negative for Mattel (MAT). BMO says Matte currently holds the Disney Princess doll license, and that its expected to generate about $600M in 2014. The firm estimates the license currently contributes $0.30, or 15%, to Mattel's annual earnings. BMO has an Underperform rating on Mattel with a $31 price target.
September 24, 2014
16:22 EDTMATOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed that sales of new homes rose to their highest level in over six years in August. The volume and news flow were relatively light, which may be the case again tomorrow as many market participants celebrate the Jewish holiday of Rosh Hashanah. ECONOMIC EVENTS: In the U.S., new home sales rose 18.0% in August to a 504K unit rate, which was much higher than the expected 4.4% increase. COMPANY NEWS: Bed Bath & Beyond (BBBY) advanced $4.64, or 7.4%, to $67.33 after the home goods retailer last night reported second quarter earnings and revenue that surpassed analysts' consensus estimates. The better than expected report and rise in the stock comes a day after William Blair downgraded the stock yesterday morning... Citizen Financial (CFG), the U.S. retail bank unit of Royal Bank of Scotland (RBS), became the year's second largest IPO behind Alibaba (BABA) after 140M shares began trading on the NYSE this morning. The stock ended it first day up $1.58, or 7.35%, at $23.08, which was far cry from the advance seen by another of the day's new stock debuts. CyberArk (CYBR) priced 5.36M shares at $16.00, opened for trade at $25.00 and ended the day at $29.94, making for a rise of over 87% from its IPO pricing. MAJOR MOVERS: Among the notable gainers was Acorda Therapeutics (ACOR), which advanced $8.27, or 28.18%, to $37.62 after the company agreed to acquire Civitas Therapeutics for $525M in cash. Civitas, which was private, had been scheduled to come public via an IPO that was expected to happen later this week prior to the deal announcement. Also higher was Hasbro (HAS), which rose $2.01, or 3.8%, to $54.95 after striking a deal that gives the company global rights, excluding Japan, to develop dolls based on Disney's (DIS) princess characters, as well as Frozen, beginning in 2016. Mattel (MAT), which currently holds those rights, slid 40c, or 1.25%, to $31.67 in the wake of the news. Also lower were shares of Skechers (SKX), which fell $5.69, or 9.8%, to $52.40 after research firm SportscanInfo reported that the footwear maker's sales had fallen 3% last week. However, Sterne Agee recommended buying the stock on the weakness. INDEXES: The Dow rose 154.19, or 0.9%, to 17,210.06, the Nasdaq gained 46.53, or 1.03%, to 4,555.22, and the S&P 500 added 15.53, or 0.78%, to 1,998.30.
September 23, 2014
12:42 EDTATHNTenet deal could be small negative for athenahealth, says Wells Fargo
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08:55 EDTATHNathenahealth valuation 'still not tempting,' says FBR Capital
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September 22, 2014
15:44 EDTATHNathenahealth management to meet with JPMorgan
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09:10 EDTATHNathenahealth expands in Atlanta, San Francisco
athenahealth announced new office openings in Atlanta, Georgia, and San Francisco, California. As part of athenahealth's national growth strategy, the company is increasing its foothold in major health care and technology markets to meet the diverse needs of its growing client base.
September 19, 2014
11:35 EDTATHNCerner, Athenahealth developing applications for Apple HealthKit, Reuters says
Cerner (CERN) and Athenahealth (ATHN) said yesterday that they are working with Apple (AAPL) to develop applications for Apple's HealthKit, Reuters reports, citing Cerner and Athenahealth representatives. Athena said they will be utilizing HealthKit to assist patients with chronic conditions like diabetes, while Cerner said that doctors and nurses will be able to access health data from the patients HealthKit with consent, Reuters added. Reference Link
08:03 EDTSNDKInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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