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Stock Market & Financial Investment News

News Breaks
January 10, 2013
08:40 EDTGTATGT Advanced to idle HiCz materials pilot manufacturing facility in St. Louis, MO
GT Advanced Technologies is transitioning to a functional organizational structure from its prior business unit organization as it continues to streamline operations and position the company for growth once the markets it serves start to recover. Under the new structure, sales, service and worldwide operations will be centralized under the leadership of Dan Squiller, who will continue to report to president and CEO Tom Gutierrez. Dave Keck, formerly general manager, polysilicon and photovoltaic equipment, will lead the company’s sales and service across all businesses, reporting to Squiller. Jeff Ford, vice president of DSS business development, will continue to have responsibility for GT's DSS business, leveraging his extensive industry knowledge and experience to ensure that GT continues to support its DSS customer base as the company transitions to next generation PV technologies. As part of the reorganization of resources, the company is shifting final development and beta build activities for its HiCz product to its Merrimack, NH facility and will be idling its HiCz materials pilot manufacturing facility in St. Louis, MO. As a result, the company will layoff approximately 35 employees in St. Louis. These employees will be provided severance pay, health and dental benefits and outplacement services. GT remains committed to the commercialization of the HiCz platform, a next generation PV furnace that will produce N-type silicon wafers to help make more efficient solar cells, and improve the economics for PV manufacturers by lowering the cost per watt of solar energy. The company expects to be ready to offer the HiCz product by mid-2013, but given current market conditions in the PV industry, orders for the new generation systems may not occur until 2014 when the industry begins to recover.
News For GTAT From The Last 14 Days
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August 22, 2014
10:25 EDTGTATStocks with call strike movement; JRJC GTAT
China Finance Online (JRJC) January 11 call option implied volatility increased 1% to 114, BlackBerry (BBRY) December 22 call option implied volatility decreased 4% to 66 according to IVolatility.
06:09 EDTGTATGT Advanced to supply up to 1.35M-2.25M iPhone covers in 2014, DigiTimes says
GT Advanced is estimated to supply 1.35M-2.25M 5.5-inch iPhone sapphire covers by the end of 2014, reports DigiTimes Research. GTAT started sapphire production in August 2014 and expects revenue contributions from sapphire to begin in the fourth quarter. GTAT is likely to ship sapphire at a large volume beginning the first quarter of 2015. Reference Link
August 20, 2014
11:15 EDTGTATGT Advanced retreats after analyst downgrades stock
Shares of sapphire maker GT Advanced (GTAT) are falling after research firm CLSA downgraded the stock in a note to investors today. The firm cited concerns about increased costs associated with the company's deal with Apple as the main reason for the downgrade. WHAT'S NEW: GT Advanced's costs associated with its deal to supply sapphire to Apple are being impacted by low yields, CLSA analyst Mark Heller wrote after speaking with strategic consulting firm Yole Développement. Lower yields will reduce the amount of sapphire that GT Advanced can produce for Apple, and will negatively affect GT’s profit margins, explained Heller. He believes that GT Advanced's risk/reward ratio is balanced at current levels, and downgraded his rating on the shares to Underperform from Outperform. However, he raised his price target on the shares to $19 from $18. PRICE ACTION: In late morning trading, GT Advanced fell 2% to $18.
10:04 EDTGTATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Underperform from Neutral at Credit Suisse... GT Advanced (GTAT) downgraded to Underperform from Outperform at CLSA... Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank... IDEXX (IDXX) downgraded to Sell from Neutral at Northcoast... Prestige Brands (PBH) downgraded to Neutral from Buy at Sidoti... Real Goods Solar (RGSE) downgraded to Neutral from Buy at Roth Capital... Regal-Beloit (RBC) downgraded to Neutral from Buy at Longbow... SunCoke Energy (SXC) downgraded to Neutral from Outperform at Credit Suisse... Tidewater (TDW) downgraded to Market Perform from Outperform at Clarkson Capital.
09:38 EDTGTAT, GTATGT Advanced downgraded to Underperform from Outperform at CLSA
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09:10 EDTGTAT, GTATGT Advanced downgraded to Underperform from Outperform at CLSA
August 19, 2014
05:52 EDTGTATStocks with implied volatility movement; GTAT ZNGA
Stocks with implied volatility movement; GT Advanced (GTAT) 76, Zynga (ZNGA) 52 according to iVolatility.
August 18, 2014
11:50 EDTGTATStocks with call strike movement; VRNG GTAT
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08:30 EDTGTATApple starts production of smartphones with sapphire screens, Guardian says
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August 14, 2014
19:41 EDTGTATApple considering sapphire glass in upcoming iPhone, smartwatch, WSJ reports
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August 13, 2014
10:01 EDTGTATOn The Fly: Analyst Initiation Summary
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August 12, 2014
16:25 EDTGTATGT Advanced initiated with an Outperform at Cowen
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