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Stock Market & Financial Investment News

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April 12, 2012
16:19 EDTHPQ, ILMN, AVID, CSCO, FIO, MIPS, MRC, FET, OAK, RHHBYOn The Fly: Closing Wrap
Stocks on Wall Street rose significantly on indications from the New York Fed that interest rates will likely remain low. Stock futures were slightly above fair value in early trading but weakened following the slightly disappointing jobless claims data. The futures action led to a relatively quiet open for the market but it soon picked up momentum to the upside. The market moved up roughly 0.5% in early trading, then spurted higher before noon. Investors rallied the market after last night’s comments from Fed president Janet Yellen, who said the Fed should be ready to ease its fiscal stance if the economy weakened while also being willing to raise rates if the economy warranted. Investors grabbed onto the dovish comments and lifted the market for the second day in a row… ECONOMIC EVENTS: In the U.S., 380K initial jobless claims were filed last week, versus the expected 355K. 3.25M continuing claims were reported, versus the expected 3.33M. Producer prices for the month of March were flat, versus the expected increase of 0.3%. The core PPI reading, however, rose 0.3%, versus the expected increase of 0.2%. The trade balance report showed a deficit of $46.0B, versus expectations for a deficit of $51B. In Europe, Italy's short-term borrowing costs rose at auction... COMPANY NEWS: Hewlett-Packard (HPQ) was a beneficiary of two reports from Gartner and IDC, each of which showed that global shipments of personal computers rose in Q1, with HP remaining the top PC maker by volume. On the day, Hewlett-Packard stock was up 7.18% to $25.09… Oaktree Capital (OAK), Forum Energy Technologies (FET) and MRC Global (MRC) all traded for the first time today, though none of the companies' stocks moved much compared to their IPO prices... MAJOR MOVERS: Among the notable gainers were MIPS Technologies (MIPS), which jumped 26.30%, to $6.58, after Bloomberg reported that Goldman Sachs (GS) had been hired to advise it on a possible sale of the company, and Fusion-io (FIO), which rose 14.80%, to $28.31, following a note to investors from Piper Jaffray saying it believes the company is working on a new original equipment manufacturer deal with Cisco (CSCO)… Noteworthy losers included Avid Technology (AVID), which lost 17.32%, to $8.50, after the company announced it expects to post Q1 revenues lower than last year, and Illumina (ILMN), which dropped 5.82%, to $49.51, after Roche Holding’s (RHHBY) CEO said he doesn’t see any reason to raise the current offer for the company… INDICES: The Dow gained 181.19 points, or 1.41%, to 12,986.58; the Nasdaq rose 39.09 points, or 1.30%, to 3,055.55; and the S&P 500 added 18.86 points, or 1.38%, to 1,387.57.
News For HPQ;OAK;FET;MRC;MIPS;FIO;CSCO;AVID;ILMN;RHHBY From The Last 14 Days
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September 12, 2014
15:29 EDTHPQHP exploring sale of Snapfish photo service, Reuters reports
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15:26 EDTHPQHP exploring sale of Snapfish photo service, Reuters reports
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07:51 EDTILMNIllumina management to meet with Leerink
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06:05 EDTCSCOCisco implied volatility of 14 at lower end of index mean range
September 11, 2014
18:30 EDTHPQHP, Russia plead guilty, sentenced for bribing Russian government officials
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16:10 EDTHPQHP acquires open source cloud software maker Eucalyptus
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11:17 EDTCSCO, HPQEMC seen as potential target after said to mull VMware stake sale
EMC (EMC) is considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW), The New York Post reported today, citing unnamed sources. Calling The New York Post "surprisingly accurate" on M&A news, UBS said the likelihood of change at EMC has increased and it has become a potential takeover target. WHAT'S NEW: EMC is exploring the possibility of selling its stake in VMware, which could be acquired by HP (HPQ), according to one source, The Post reported. EMC could also look to sell other assets, the newspaper quoted a second unnamed source as saying. ANALYST REACTION: UBS analyst Steven Milunovich wrote that he is more convinced in the wake of the Post story that "something is up" at EMC. Although EMC has denied in the past that it would consider selling or spinning off VMware, the company could change its tune, the analyst stated. HP could buy VMware or all of EMC, while Oracle (ORCL) and Cisco (CSCO) are also potential buyers of EMC, Milunovich believes.The analyst kept a $33 price target and Buy rating on shares of EMC. WHAT'S NOTABLE: Activist investor Elliott Management, a hedge fund, has taken a $1B stake in EMC and wants the company to spin off VMware, The Wall Street Journal reported in July. Early last month, research firm FBR Capital wrote that an EMC spin-off of VMware could enhance shareholder value for both companies and make VMware a top acquisition candidate by a larger technology company. The firm kept an Outperform rating on EMC at that time. PRICE ACTION: In late morning trading, EMC was little changed at $29.50, down from its earlier high of $29.89. VMware fell 0.7% to $96.75, down from its earlier daily high of $97.86.
10:30 EDTHPQUBS sees increasing likelihood of change at EMC
UBS calls the New York Post "surprisingly accurate on M&A" after the paper reported that EMC (EMC) is considering the sale of its stake in VMware (VMW). The firm believes the likelihood for change at the company is rising. In addition, UBS says the industry should consolidate, and it views EMC as a potential target. UBS thinks Cisco (CSCO), Oracle (ORCL) and HP (HPQ) might be interested parties in owning part or all of EMC. The firm believes an HP, EMC merger would make sense. UBS has a Buy rating on EMC with a $33 price target.
07:07 EDTHPQEMC to explore selling VMware stake, NY Post reports
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September 10, 2014
13:04 EDTRHHBYRoche unit receives orphan status for lung cancer mutation drug
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08:31 EDTHPQRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
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September 9, 2014
14:04 EDTHPQHP price target raised to $43 from $40 at Argus
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07:17 EDTCSCO, HPQThe Wireless Association to hold a conference
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September 8, 2014
10:06 EDTILMNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) initiated with a Buy at Citigroup... Agilent (A) initiated with an Equal Weight at Morgan Stanley... Altisource Residential (RESI) initiated with a Neutral at JPMorgan... AngloGold (AU) initiated with an Overweight at JPMorgan... Arista Networks (ANET) initiated with an Outperform at FBN Securities... C1 Financial (BNK) initiated with a Buy at Wunderlich... Cherokee (CHKE) initiated with a Buy at Roth Capital... ContraFect (CFRXU) initiated with a Buy at Maxim... DRDGOLD (DRD) initiated with an Underweight at JPMorgan... Enable Midstream (ENBL) initiated with an Equal Weight at Morgan Stanley... Enservco (ENSV) initiated with an Outperform at Northland... GoPro (GPRO) initiated with an Outperform at FBN Securities... Gold Fields (GFI) initiated with an Overweight at JPMorgan... Gulfport Energy (GPOR) initiated with an Equal Weight at Morgan Stanley... Harmony Gold (HMY) initiated with a Neutral at JPMorgan... Illumina (ILMN) initiated with an Equal Weight at Morgan Stanley... LINN Energy (LINE) reinstated with an Outperform at Credit Suisse... LinnCo (LNCO) reinstated with an Outperform at Credit Suisse... Randgold (GOLD) initiated with a Neutral at JPMorgan... Rentrak (RENT) initiated with a Buy at Needham... Rice Energy (RICE) initiated with an Accumulate at KLR Group... SanDisk (SNDK) initiated with an Outperform at FBN Securities... Seadrill (SDRL) initiated with a Sell at Canaccord... Tesla (TSLA) initiated with an Outperform at FBN Securities... Thermo Fisher (TMO) initiated with an Overweight at Morgan Stanley... Waters (WAT) initiated with an Underweight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Equal Weight at Morgan Stanley.
08:45 EDTCSCONimble Storage, Arista, CommVault recommnded on M&A at Pacific Crest
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07:15 EDTRHHBYIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
06:08 EDTILMNIllumina initiated with an Equal Weight at Morgan Stanley
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September 5, 2014
13:07 EDTRHHBYRoche has a conference call hosted by JPMorgan
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11:39 EDTHPQIntel launches Core M processor, available Holiday 2014
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06:43 EDTHPQHP considered pulling out of Autonomy deal, FT reports
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