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Stock Market & Financial Investment News

News Breaks
August 11, 2014
06:09 EDTSNDK, GPROStocks with implied volatility below IV index mean; GPRO SNDK
Stocks with implied volatility below IV index mean; GoPro (GPRO) 68, SanDisk (SNDK) 27 according to iVolatility.
News For GPRO;SNDK From The Last 14 Days
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June 29, 2015
11:42 EDTGPROGoPro drifts lower, levels to watch
Shares are down 1.9% to $53.07 at time of writing. At that price initial support is at the low of the day at $52.11, which would place price well below the 50-day moving average. A move below the 50-day would be bearish for future price. Resistance is at $53.71, the high of the day.
11:21 EDTGPROStocks with call strike movement; ASHR GPRO
X-trackers Harvest CSI 300 (ASHR) October 54 call option implied volatility increased 4% to 48, GoPro (GPRO) October 65 call option implied volatility increased 3% to 47 according to IVolatility.
09:13 EDTGPROGoPro sell-through data steady, drone interest encouraging, says Raymond James
Raymond James analyst Tavis McCourt noted that Google Trends data for the search term “GoPro” decelerated in June, which would normally be consistent in a slowdown in sales growth, but McCourt attributes the slowdown to an anomaly in the year-over-year data due to GoPro's IPO driving search comps higher last year. The analyst noted that the firm's U.S. survey of intended GoPro ownership keeps rising and that its survey of drone interest was encouraging. McCourt keeps an Outperform rating and $63 price target on GoPro shares, noting that he expects the stock to remain volatile.
June 26, 2015
10:09 EDTSNDKStreet Check: Bearish analysts made right call on Micron ahead of Q3 miss
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09:36 EDTSNDKActive equity options trading on open
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09:10 EDTSNDKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Finish Line (FINL), up 6.5%... Nike (NKE), up 3.2%. ALSO HIGHER: GigaMedia (GIGM), up 14.6% after agreeing to acquire 70% equity interest in Strawberry Cosmetics. DOWN AFTER EARNINGS: Micron Technology (MU), down 14.8%. ALSO LOWER: Celladon (CLDN), down 42.7% after planning to suspend further R&D of MYDICAR program... Real Goods Solar (RGSE), down 18.4% after raising $5M in a common stock and warrant offering... SanDisk (SNDK), down 3.3% after Micron Technology reports quarterly results... Alder Biopharmaceuticals (ALDR), down 2.6% after 4.49M share Secondary priced at $44.50... Sotherly Hotels (SOHO), down 2% after 3M share Secondary priced at $7.11.
June 25, 2015
19:04 EDTSNDKOn The Fly: After Hours Movers
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17:56 EDTSNDKMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
12:54 EDTSNDKEarnings Watch: Micron reports after multiple analysts recommend selling shares
Micron Technology (MU) is expected to report third quarter earnings after the close on Thursday, June 25, with a conference call scheduled for 4:30 pm EDT. Micron manufactures semiconductor devices, principally Dynamic Random Access Memory, or DRAM, NAND Flash and NOR Flash memory. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $3.9B. The consensus range is 49c-65c for EPS on revenue of $3.73B-$4.03B, according to First Call. On its last earnings conference call, Micron guided for Q3 revenue of $3.85B-$4.05B. In terms of bit growth in Q3, the company said previously that it sees total DRAM up high single digits and Trade NAND down low single digits. In Q3 for ASP, the company forecast total DRAM down high single digits and Trade NAND up mid single digits. LAST QUARTER: On April 1, Micron reported Q2 adjusted EPS of 81c, against a consensus of 73c, on revenue of $4.17B, against a consensus of $4.15B. The company said then that it was allocating less production to its PC segment and shifting to faster growing areas, but also said it foresaw PC DRAM demand to improve in the second half of 2015. PEER: On April 15, SanDisk (SNDK) lowered it FY15 revenue view to $5.4B-$5.7B from $6.5B-$6.8B. At that time, SanDisk CEO Sanjay Mehrotra said the company was "disappointed" with its financial and operational performance and was taking "aggressive measures" to regain the type of execution it has delivered in the past, adding that its top priorities for 2015 are to strengthen its product roadmap and rebuild its momentum. NEWS: On May 5, Micron appointed Ernie Maddock as CFO and vice president, Finance, effective June 1. Maddock joined Micron after having served as EVP and CFO at Riverbed Technology (RVBD). STREET RESEARCH: On June 9, Piper Jaffray analyst Ruben Roy wrote that after conducting checks in Taiwan he expects the prices of PC DRAM to continue to decline. However, mobile and server DRAM pricing remains stable, as demand for those products is rising, the analyst stated. Roy lowered his estimates for Micron and trimmed his price target on the shares to $34 from $35 but kept an Overweight rating on the name. The same day, research firm Drexel Hamilton cut its rating on Micron to Sell from Hold, citing its belief that DRAM price declines are likely to continue. Samsung appears to be willing to accept lower memory prices and mobile DRAM prices are weakening, while PC DRAM prices have remained weak, the firm stated. As a result, Drexel lowered its margins and earnings estimates for Micron and slashed its price target on the stock to $20 from $30. Less than a week later, Morgan Stanley analyst Joseph Moore downgraded Micron to Underweight, the firm's equivalent of a "Sell" rating. Moore said that his checks in Taiwan indicate that the outlook for DRAM is "cautious versus expectations" for the third quarter. Previously, the analyst had expected DRAM to experience a seasonal boost in Q3, but he now expects this lift to be delayed until at least Q4. Moreover, DRAM prices will probably stay weak through Q3 as customers' inventories of DRAM are excessive, while sales of PC DRAM will probably remain weak in Q3 and could stay low in Q4, the analyst stated. Micron could have difficulty improving its earnings in 2016 from current levels, warned the analyst, who set a $21 price target on the shares. The same day, Moore downgraded peer SanDisk to Equal Weight from Overweight and lowered his price target on those shares to $75 from $80. On June 19, Topeka upgraded Micron to Buy from Hold and increased its price target to $34 from $30. The firm came away from an investor site visit incrementally more confident regarding PC demand and related DRAM pricing. Topeka added that it expects investor confidence in Micron's ability to sustain margins though cycles to increase over the next few quarters as Micron executes. Earlier this week, Goldman Sachs analyst Mark Delaney downgraded Micron to Sell from Neutral, saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for Micron shares to $19 from $27. PRICE ACTION: Over the last three months, shares of Micron have fallen over 9%. Ahead of its earnings report, Micron fell fractionally to trade near $24 per share at midday.
10:23 EDTGPROAmbarella rises after analyst says competitive edge increasing
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June 23, 2015
16:29 EDTGPROOn The Fly: Top stock stories for Tuesday
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13:37 EDTGPROOn The Fly: Top stock stories at midday
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10:23 EDTGPROAmbarella jumps after analyst says buy after big selloff
The shares of Ambarella (AMBA) are rising after research firm Canaccord defended the stock in the face of a highly negative report on the company by short-selling blog Citron Research. The company develops processors used in high definition cameras. BACKGROUND: In an article published last Friday on its website, Citron called Ambarella's valuation "ridiculous," given the competition the company is facing and the lack of demand for its products in certain areas such as security. According to Citron, Ambarella's stock is worth about $30 per share, versus its current price of around $104. After the article was published, Ambarella's stock tumbled about 26% before today's open. ANALYST REACTION: In a note to investors earlier today, Canaccord analyst Matthew Ramsay wrote that the technological advantages of Ambarella's chips are enabling it to gain market share and design wins, as well as making its current customers more likely to continue using its products. Specifically, Ambarella's processors offer significantly better video quality, compression efficiency and lower power than those of its competitors, the analyst believes. These advantages will become more meaningful when new video technologies become more prevalent, Ramsay wrote. Additionally, Ambarella should benefit from the increased proliferation of drone cameras and security cameras, which together should significantly boost the company's results, the analyst believes. The company's earnings can reach $5 per share in fiscal 2017, predicted the analyst, who contended that Citron's report is "largely void of well-researched content." He kept a $115 price target and Buy rating on the shares. PRICE ACTION: In early trading, Ambarella climbed $9.30, or 10%, to $104. WHAT’S NOTABLE: Ambarella’s chips are in GoPro’s (GPRO) HERO action camera line. After selling off yesterday, shares of GoPro are up $1.47 to $56.39 in early trading. JMP Securities analyst Alex Gauna this morning raised his earnings estimates for GoPro to reflect the company’s second half of 2016 entry into the “booming” drone market. He kept a $105 price target for the shares.
07:59 EDTGPROJMP raises GoPro estimates amid 'booming' drone market
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June 22, 2015
18:22 EDTGPROGoogle offers sign-ups to test GoPro virtual reality prototype
Google (GOOG) has created a sign-up page to allow "creators" -- taken to mean video content creators -- to test its "Jump" virtual reality platform. Jump uses 16 GoPro (GPRO) cameras to create virtual reality video "that you can step inside of." Content creators selected by Google will get access to the platform beginning this summer. Reference Link
15:22 EDTGPROGoPro volatility stays low on wide price movement
GoPro June weekly call option implied volatility is at 45, July is at 44, October is at 45; compared to its 52-week range of 39 to 58, suggesting decreasing near term price movement.
11:55 EDTGPROAmbarella selloff continues following short seller report
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11:44 EDTGPROGoPro hits session lows, nears important support test
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10:00 EDTSNDKOn The Fly: Analyst Upgrade Summary
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05:34 EDTSNDKSanDisk upgraded to Buy from Hold at Summit Research
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