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Stock Market & Financial Investment News

News Breaks
July 16, 2014
11:29 EDTINTC, AMD, QCOM, TXN, BRCMIntel hits 52-week high after results beat estimates
Shares of semiconductor giant Intel (INTC) are rising after the company's second quarter results beat analysts' consensus estimates. WHAT'S NEW: Last night, Intel reported Q2 earnings per share of 55c and revenue of $13.8B, beating analysts' consensus estimates of 52c and $13.69B, respectively. Q2 gross margin was 64.5%. WHAT'S NOTABLE: For Q3, revenue was forecast at $14.4B, plus or minus $500M, versus consensus of $14.02B. Gross margin was expected at 66%, plus or minus a couple of percentage points. FY14 revenue growth was forecast at approximately 5% and Intel sees its FY14 gross margin percentage to come in at 63%, plus or minus a few percentage points. The company also announced a $20B increase to its share repurchase plan. ANALYST REACTION: This morning, analyst commentary was mostly positive. Six separate firms - Piper Jaffray, Credit Suisse, Deutsche Bank, Stifel, Jefferies, and Drexel Hamilton - all raised their respective price targets on Intel. Two other firms, UBS and B. Riley, both upgraded the stock to Buy from Neutral. A dissenting opinion came from RBC Capital, which thinks the company will be burdened by start-up costs in Q4 and the first quarter of the next fiscal year. The firm thinks there is a risk that the Intel's gross margins will drop and it kept a Sector Perform rating on the shares. PRICE ACTION: In late morning trading, Intel rose $2.09, or about 6.6%, to $33.80 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a new 52-week high of $33.95. Including today's advance, the stock is up nearly 40% over the past 12 months. OTHERS TO WATCH: Other companies in the semiconductor space include Advanced Micro Devices (AMD), up 2%, Qualcomm (QCOM), up 0.4%, Texas Instruments (TXN), up 0.6%, and Broadcom (BRCM), up 1%.
News For INTC;AMD;QCOM;TXN;BRCM From The Last 14 Days
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October 14, 2014
16:05 EDTINTCIntel sees FY14 CapEx $11B, plus or minus $500M
16:04 EDTINTCIntel reports Q3 PC Client Group revenue $9.2B, up 6% sequentially, up 9% YoY
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16:02 EDTINTCIntel reports Q3 gross margin 65%
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16:02 EDTINTCIntel sees Q4 revenue $14.7B, plus or minus $500M, consensus $14.49B
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16:01 EDTINTCIntel reports Q3 EPS 66c, consensus 65c
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15:29 EDTINTCNotable companies reporting after market close
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14:45 EDTINTCEarnings Preview: Intel to report after Microchip correction warning
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12:31 EDTINTCIntel October 32.5 straddle priced for 6% move into Q3
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12:01 EDTAMDAMD volatility elevated into Q3 and outlook
AMD October call option implied volatility is at 200, November is at 85, January is at 70; compared to its 26-week average of 48 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 16.
11:39 EDTINTCIntel technical comments ahead of earnings
The shares have outperformed the broader averages over the last three months. Removing today's bounce, the stock has been flat against the down performance of the averages. The trading pattern for the stock when viewed with a three-month window has been up sharply, sideways, and down sharply. That doesn't leave a great deal of room for trend interpretation other than traders being cautious into results. When we pull back to a 1-year view, the technical picture is strikingly different. Almost all of the gains in shares this year, up over 34% excluding today, has come since the early summer. That sharp rise then developed into a bearish rounding formation viewed on a closing basis. On an OHLC chart, the formation instead is an Island Top. That is, a bullish gap, the sideways move previously described, and a bearish gap from yesterday. That leaves the price action of the last several months isolated, an island, within the context of the longer term uptrend. Island Tops are usually considered extremely bearish on a technical basis, suggesting the up move has exhausted itself in a blow-off. If the news on earnings and outlook supports this bearish price interpretation, there could be significant downside risk. Levels to watch on the downside would be at $31.80, the bottom of the bullish gap from July, $30,03, and $28.10, the bottom of the bullish gap from June. A break below $28 might leave the shares back in the $24 to $26 range characteristic of the price action at the start of the year. If the news is positive, the first major resistance is at the 52-week high at $35.56 and then at $37.15.
10:51 EDTAMDFitch Solutions: Exit of AMD CEO sends CDS to widest level since February
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10:10 EDTINTCChip makers rise following Skyworks positive preannouncement
Shares of a number of semiconductor makers are climbing after one of the companies in the sector, Skyworks (SWKS), preannounced stronger than expected results. WHAT'S NEW: Skyworks, which develops chips for cell phones, raised its fourth quarter earnings per share outlook to $1.08 from $1.00. Analysts' consensus estimate was $1.01. The chip maker increased its Q4 revenue guidance to $718M from $680M. Analysts' consensus estimate was $679.5M. "Skyworks’ upwardly revised outlook demonstrates the broad-based strength of our business and our ability to capitalize on positive underlying market trends to connect everyone and everything, all the time,” said Skyworks CEO David Aldrich. "These multi-year technology trends are setting the stage for us to outperform the broader semiconductor industry in the December quarter and for the foreseeable future," the CEO added. WHAT'S NOTABLE: Skyworks' positive report comes less than a week after another semiconductor maker, Microchip (MCHP), preannounced lower than expected revenue and said it thought the sector had entered a correction. Semiconductor stocks have sold off sharply since Microchip's preannouncement and pessimistic comments. PRICE ACTION: In early trading, Skyworks surged 6.4% to $48.24, Intel (INTC) rose 1.5% to $31.94, NXP Semiconductors (NXPI) rose 1.2% to $54.55, STMicroelectronics (STM) advanced 2% to $6.82, and Avago Technologies (AVG) gained fractionally to $69.30.
09:02 EDTTXNTexas Instruments shipped over 22B units of copper wire bonding technology
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07:24 EDTQCOM, INTCIntel gains government ally in China with new deals, Reuters says
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06:39 EDTAMDAMD, Asustek may be strengthening their partnership, DigiTimes reports
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06:37 EDTQCOMUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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06:29 EDTINTCTSMC and rivals racing to pack computer power in each chip, WSJ says
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October 13, 2014
17:47 EDTAMDAMD is trading down 7.7% in the after hours session
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05:57 EDTTXNStocks with implied volatility movement; SMH TXN
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October 12, 2014
17:20 EDTQCOMGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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