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Stock Market & Financial Investment News

News Breaks
January 7, 2013
08:20 EDTAMD, HILLDot Hill provides virtual RAID adapter technology for upcoming AMD chipsets
Dot Hill Systems (HILL) announced its Virtual RAID Adapter software has been selected by AMD (AMD) in support of the AMD A-Series APU chipset in 2013. The new VRA-for-motherboard solution is based on Dot Hill's AssuredVRA technology for software RAID requirements across a variety of potential platforms. VRAs replace traditional RAID-on-motherboard solutions with a robust data protection solution for internal storage that rivals more expensive add-in card-based RAID controllers. Eliminating the need for such controllers along with the associated power, cooling and support costs, VRAs enable businesses to lower storage costs while providing data protection and management for compute-intensive applications.
News For HILL;AMD From The Last 14 Days
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May 21, 2015
11:39 EDTHILLNetApp hits 52-week low after results, outlook miss expectations
Shares of storage company NetApp (NTAP) are falling after the company’s fourth quarter results and first quarter outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Yesterday, NetApp reported Q4 adjusted earnings per share of 65c and revenue of $1.54B, trailing analysts’ consensus estimates of 72c and $1.59B, respectively. The company raised its quarterly dividend 9% to 18c per share. It also announced a “realignment” that will be implemented through the end of 3Q16. As part of the realignment, NetApp expects to reduce worldwide headcount by approximately 500 employees. The company expects to incur aggregate charges of approximately $25M-$35M for employee terminations and other costs associated with the realignment. WHAT’S NOTABLE: Looking ahead to Q1, NetApp forecast adjusted EPS of 20c-25c and revenue of $1.275B-$1.375B, well below the consensus of 60c and $1.46B, respectively. On the company’s conference call, management said it sees a return to a growth trajectory in second half of FY16. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately, management stated, adding that the company is well positioned for the era of cloud computing. They expect to reduce the company’s share count by another 5%, and see operating margins back in range in the second half of the year. ANALYST REACTION: This morning, JP Morgan, Cantor, Summit Research and Needham all downgraded NetApp following its Q4 report. JPMorgan went to Underweight on NetApp, citing the "tough" Cluster ONTAP product transition after the company's Q1 revenue guidance missed expectations. The firm cut its price target for shares to $29 from $35. Cantor Fitzgerald's Brian White downgraded NetApp to Hold from Buy, citing execution issues with the product transition and secular challenges for the storage market, and cut his price target for shares to $35 from $43. Last night marked the seventh time in eight quarters that NetApp missed estimates, Summit Research noted. PRICE ACTION: In late morning trading, NetApp fell $4.17, or about 12%, to $31.16 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $30.90. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the in the storage space include EMC Corporation (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
May 19, 2015
12:55 EDTAMDPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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08:34 EDTAMDApple introduces 15-inch MacBook Pro with Force Touch trackpad
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08:33 EDTAMDMorgan Stanley cautious in near-term on PC names
Morgan Stanley is more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team continues to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. Morgan Stanley is cautiously optimistic on Western Digital (WDC) due to its diverse revenue drivers, sees value creation catalysts for Hewlett-Packard (HPQ) and believes Microsoft (MSFT) shares reflect the challenging PC market and Win 10. The firm is more cautious on semis such as NVIDIA (NVDA) given higher valuations, share loss at Advanced Micro (AMD), potential 2H margin pressure at Intel (INTC), and Morgan is cautious on PC DRAM stocks near-term due to weaker pricing.
May 15, 2015
08:13 EDTAMDJefferies ups view on Semis to Positive from Negative
Jefferies upped its view on the Semiconductors space to Positive from Negative after hosting a dozen companies at its annual conference in Miami. The firm notes that most companies noted an "OK" demand environment, which it views as supporting its thesis that the recent inventory correction and lower capex has created a "great opportunity" to add to Semi positions. After meeting with management, Jefferies has increased conviction that NXP Semiconductors (NXPI) will soon sell its HPRF business and return to its stock buyback program before most expect. It has Buy ratings on AMD (AMD), Microchip (MCHP), NXP and Texas Instruments (TXN).
May 14, 2015
11:05 EDTHILLDot Hill Systems management to meet with Maxim
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07:43 EDTHILLB. Riley to hold a conference
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May 12, 2015
09:11 EDTHILLDot Hill Systems repeats Q2 EPS view 4c-8c, consensus 6c
Repeats Q2 revenue view $58M-$62M, consensus $59.98M. Says projecting operating margin to double by 2017. Sees 2017 revenue growth 14%-18% vs. 2014 baseline. Sees FY15 gross margin 33%-34%, operating margin 10%-13%. Comments from investor presentation slides.
May 11, 2015
10:32 EDTHILLDot Hill Systems management to meet with Needham
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