New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 19, 2014
14:41 EDTTOSYY, SNDK, IMIIntermolecular surges after SanDisk, Toshiba license memory IP
Shares of semiconductor and clean-energy technology company Intermolecular (IMI) are on the rise after the company announced that SanDisk (SNDK) and Toshiba (TOSYY) have jointly elected to take an exclusive license to Intermolecular's developed intellectual property, or IP. WHAT'S NEW: Intermolecular announced that SanDisk and Toshiba have jointly elected to take an exclusive license, in a limited field, to Intermolecular's rights in the IP developed under a collaborative development program, as well as Intermolecular's background intellectual property. The related technologies have been developed for next-generation memory. The companies' CDP with Intermolecular, specifically targeted at developing certain memory products, materials, processes and device technologies, was concluded on March 15. Under the terms of the exclusive license, SanDisk and Toshiba will prepay non-refundable royalties in quarterly installments over a predetermined period. WHAT'S NOTABLE: On February 27, Intermolecular first reported that development activity related to the collaborative development program agreement with both SanDisk and Toshiba reached a conclusion. The company's CEO Dave Lazovsky said, "The objective of the CDP was to prepare certain memory technology for future production, and we are proud to have worked with SanDisk and Toshiba over the last four years to achieve the goal of our collaboration. We believe that we have helped them develop such memory technology with the potential to be the industry leader in non-volatile memory capability." ANALYST REACTION: Research firm Pacific Crest commented that the strength in Intermolecular shares on the news has been overdone. The firm added that it does not expect the license payments to ramp for 5 years. PRICE ACTION: In afternoon trading, shares of Intermolecular rose 79c, or about 35%, to $3.06.
News For IMI;SNDK;TOSYY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 22, 2015
17:25 EDTSNDKSanDisk backs FY15 revenue view $5.4B-$5.7B, consensus $5.53B.
Subscribe for More Information
17:21 EDTSNDKSanDisk does not expect Toshiba announcement to impact financial results
Subscribe for More Information
17:06 EDTSNDKSanDisk says progressing with qualification of embedded component product
Subscribe for More Information
16:06 EDTSNDKSanDisk reports Q2 non-GAAP EPS 66c, consensus 33c
Subscribe for More Information
15:26 EDTSNDKNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:09 EDTSNDKEarnings Watch: Summit breaks trend with upgrade of Sandisk to Buy
Subscribe for More Information
12:16 EDTSNDKSanDisk technical notes before earnings
Subscribe for More Information
07:10 EDTSNDKSanDisk July weekly volatility elevated into Q2 and outlook
Subscribe for More Information
July 21, 2015
05:46 EDTTOSYYToshiba CEO Hisao Tanaka resigns following accounting scandal, BBC reports
Subscribe for More Information
July 20, 2015
11:30 EDTTOSYYToshiba to restate past profits by at least Y151.8B after probe
Toshiba provided notice earlier that it received the investigation report from its independent investigation committee and reported that it must correct at least Y151.8B of pretax earnings over a period from fiscal year 2008 to fiscal year 2014 through the third quarter. The company will review fiscal 2014 earnings with auditors and submit its result by the end of August, the company noted. Reference Link
10:00 EDTSNDKOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:13 EDTSNDKSanDisk upgraded to Neutral at Nomura
Subscribe for More Information
06:11 EDTSNDKSanDisk upgraded to Neutral from Reduce at Nomura
July 19, 2015
18:22 EDTTOSYYJapanese regulator to pursue penalty for Toshiba, Nikkei says
Subscribe for More Information
July 17, 2015
06:12 EDTTOSYYToshiba executives involved in improper accounting, probe finds, Reuters reports
Subscribe for More Information
July 15, 2015
08:50 EDTTOSYYToshiba to book charges of $2.4B-$3.2B for improper accounting, Reuters says
Subscribe for More Information
06:06 EDTTOSYYToshiba CEO, Vice Chairman expected to step down in September, Reuters reports
Toshiba CEO Hisao Tanaka is expected to step down in September in order to take responsibility for accounting irregularities which sources say led to profits being overstated by over Y170B, or $1.2B, Reuters reports. Other board members, including Vice Chairman Norio Sasaki, are also expected to step down, the sources say. Reference Link
July 14, 2015
13:17 EDTTOSYYToshiba President Hisao Tanaka expected to resign in September, Nikkei says
Toshiba President Hisao Tanaka is expected step down in September to take responsibility for the company's growing accounting scandal, Nikkei reports. He has informed his close associates of his intention to resign, Nikkei added. Reference Link
10:52 EDTSNDKAnalysts say Micron could be sold, but not at price Tsinghua said to offer
Research firms have reacted to a Wall Street Journal report, published last night, that Chinese chip maker Tsinghua had offered to acquire Micron (MU) for $23B, or $21 per share. Summit Research said that Tsinghua would probably raise its bid, while JMP Securities wrote that the deal would be logical from Tsinghua's perspective. However, Piper Jaffray contended that the reported buyout offer is illogical and Cowen agreed, saying that the deal makes no sense for shareholders. ANALYST REACTION: Tsinghua may have indicated that it was making the "low ball" offer in order to gauge the reaction of Micron's management and shareholders to it, Summit Research analyst Srini Sundarararjan contended in a note to investors. Tsinghua will probably increase its bid, the analyst predicted, adding that he expects Micron's stock to reach $21 soon. Sundarararjan kept a $34 price target and Buy rating on Micron. JMP Securities analyst Alex Gauna wrote that the deal would be logical for Tsinghua, as it would allow the Chinese company to access leading edge process technology, enable it to deliver more complete system solutions, and give it access to 3D NAND technology. The analyst, who believes that other Chinese companies may make competing bids for Micron, finds it difficult to believe that Micron would accept an offer more than 5%-10% below its 52-week high of $36.50. Piper Jaffray analyst Ruben Roy countered that the deal makes sense for Tsinghua and China, but not for Micron. If a takeover of Micron was based on the average valuation that companies in Micron's sector have received in takeover deals over the last 18 months, it would fetch a takeover price of $43 per share, Roy estimated. Micron and Tsinghua are more likely to reach an intellectual property sharing deal than complete a takeover transaction, according to Roy, who kept an Overweight rating on Micron. Similarly, Cowen analyst Timothy Arcuri wrote that the $21 per share price wouldn't make sense for Micron's shareholders, since it's barely above the estimated replacement cost of the company's capacity. The analyst indicated that he does not believe that Tsinghua would actually make the deal and he thinks that the U.S. Department of Justice would not approve the deal if it does get offered. WHAT'S NOTABLE: In a separate note, Summit's Sundarararjan, noting that Intel (INTC) has a 20% stake in Tsinghua. contended that the U.S. chip giant probably "midwifed" Tsinghua's offer for Micron. The analyst says that Intel "carries a lot of weight" with the U.S. Department of Justice and he believes that the DOJ could approve the deal. PRICE ACTION: In morning trading, Micron jumped 11% to $19.60. Several other semi chip related stocks were also rising, with SanDisk (SNDK) gaining 4%, Advanced Micro Devices (AMD) advancing 3% and Atmel (ATML) adding 2%.
09:20 EDTSNDKOn The Fly: Pre-market Movers
HIGHER: Natural Health Trends Corp. (NHTC), up 16.2% following second quarter guidance... Transgenomic (TBIO), up 14% after launching genetic test for Leukodystrophy diagnosis... Biocept (BIOC), up 12.4% after launching diagnostic assay for BRAF mutations in melanoma patients... Micron (MU), up 13.1% after WSJ reports that Tsinghua made $23B acquisition offer... SanDisk (SNDK) and AMD (AMD) are up 3.8% and 3.1%, respectively, following reports of Tsinghua offer to Micron... GoPro (GPRO), up 3.2% after being upgraded to Overweight from Equal Weight at Barclays. DOWN AFTER EARNINGS: Wells Fargo (WFC), down 1%... JPMorgan (JPM), down fractionally. ALSO LOWER: Vince Holding (VNCE), down 16.3% after being downgraded to Market Perform from Outperform at William Blair... Tonix Pharmaceuticals (TNXP), down 8.3% after 2.3M share Spot Secondary priced at $7.50... Spirit Airlines (SAVE), down 7.4% after pricing pressure leads to reduced fiscal 2015 margin view... Orbitz Worldwide (OWW), down 2.8% after being downgraded to Sell from Neutral at UBS.
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use