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July 8, 2014
06:17 EDTATML, SSNLF, INTC, BRCMAtmel, Broadcom, Intel, Samsung announce collaboration
Atmel (ATML), Broadcom (BRCM), Dell, Intel (INTC), Samsung (SSNLF) and Wind River are joining forces to establish a new industry consortium focused on improving interoperability and defining the connectivity requirements for the billions of devices that will make up the Internet of Things. The Open Interconnect Consortium is focused on defining a common communications framework based on industry standard technologies to wirelessly connect and intelligently manage the flow of information among personal computing and emerging IoT devices, regardless of form factor, operating system or service provider. Member companies will contribute software and engineering resources to the development of a protocol specification, open source implementation, and a certification program, all with a view of accelerating the development of the IoT. The OIC specification will encompass a range of connectivity solutions, utilizing existing and emerging wireless standards and will be designed to be compatible with a variety of operating systems. Additional member companies are expected to join OIC in the coming months.
News For INTC;ATML;BRCM;SSNLF From The Last 14 Days
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November 18, 2015
13:44 EDTINTCBefore the Move: Watch Intel into tomorrow's analyst day
Chipmaker Intel's (INTC) analyst day tomorrow could yield information on numerous company operations, but Jefferies analyst Mark Lipacis cautions investors that the probability for positive surprises appears low given recent spending outlays. BACKGROUND: Intel, one of the largest semiconductor makers in the world, is scheduled to hold an analyst day on Thursday, November 19. Beyond providing forecasts for its various business segments and remarks on the larger computer market, Intel is expected to provide further clarity on several recent stories, including its memory joint venture with Micron (MU), plans to invest heavily in a Chinese production facility and progression towards chips on the 10 nanometer scale. STRONG OUTLOOK, MILD MEETING: Intel's pending acquisition of Altera (ALTR) and its plans to invest as much as $5.5B in a computer memory facility in Dalian, China leave little room for positive surprises at tomorrow's event in regards to 2016 margins, capital expenditures, or shareholder returns, Jefferies analyst Mark Lipacis said in a recent research note. That said, the analyst views Intel's Chinese facility expansion as part of a "brilliant investment strategy that positions Intel as a partner to China" and "keeps the market open" to its microprocessors, perhaps Intel's more famed business segment. Though the two initiatives are certain to push up near-term debt load, Lipacis takes the longer-term view, reminding investors that Intel has shown consistently strong free cash flow over the past decade, leading him to forecast another $13B in 2016. The year may also bring "a number" of other positives for the company, including more data center wins after the Altera tie-up, potentially renewed sales on a cyclical uptick in PC gaming, and even the possibility of an iPhone chip contract, though Lipacis said none of those points look set to be discussed tomorrow. The analyst kept a Buy rating and $38 price target on the shares while reiterating that Thursday's Intel event may have little in store for those expecting eye-grabbing surprises. PRICE ACTION: Shares of Intel have advanced roughly 0.9% to $32.92 Wednesday afternoon. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.
10:10 EDTATMLOptions with decreasing implied volatility
Options with decreasing implied volatility: INSY PRGO SYF KSS LOCO ATML JWN JD MEG MWE
08:14 EDTBRCMNXP Semiconductors added to Top Pick list at FBR Capital
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05:56 EDTSSNLFSony Mobile, LG to develop smartphone app processors in-house, DigiTimes says
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05:56 EDTSSNLFReport: Samsung and LG to switch to white flip chip technology, DigiTimes says
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November 17, 2015
15:40 EDTINTCIntel to host investor meeting
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11:03 EDTINTCTsinghua Chairman says in talks with U.S.-based chipmaker, Reuters reports
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07:48 EDTINTCHP Enterprise announces alliance with Intel
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06:27 EDTINTCIntel November volatility elevated into investor meeting
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November 16, 2015
16:53 EDTBRCMPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
12:35 EDTSSNLFApple reaps 94% of global smartphone profits, Business Insider says
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10:25 EDTBRCMUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
09:37 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
05:57 EDTSSNLFDRAMeXchange: Q3 Mobile DRAM sales rise 18%, DigiTimes says
Mobile DRAM revenue in Q3 was up 18% sequentially to $4.55B, reports DigiTimes. According to DRAMeXchange, SK Hynix made the largest contribution to the growth with revenues surging 30.5% to $1.2B while Samsung remained the largest DRAM supplier with revenue increasing 16.5% to $2.58B. Samsung continued to hold a more than 50% share of the global mobile DRAM market in the quarter. Reference Link
05:57 EDTSSNLFReport: Samsung to shift L8 facilities to produce LTPS panels, DigiTimes reports
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November 13, 2015
12:05 EDTATMLElliott increases stake in Dialog Semiconductor to 5%
Elliott International issued a letter to shareholders of Dialog Semiconductor (DLGNF) informing them that they increased its interest in the company to 5% and urges shareholders to vote AGAINST the company's agreement to acquire Atmel (ATML).
09:35 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
06:48 EDTATMLDialog says Atmel deal cleared in U.S., Germany, Bloomberg says
Dialog Semiconductor (DLGNF) said it has earned clearance from German and U.S. authorities for its $4.6B takeover of Atmel (ATML), Bloomberg reports.The U.S. DoJ and FTC have given early termination of the waiting period for the transaction, and Germany's Federal Cartel Office has provided notification that the deal has been approved to proceed, the report says. Reference Link
05:58 EDTSSNLFReport: Samsung stops LCD production at 1.5 fab, DigiTimes says
Samsung Display has stopped LCD production of its L5 facilities in South Korea as of October, reports DigiTimes. Citing a new report from Korea-based D-Daily, Samsung is considering whether to fully close the facilities or convert them to produce other applications. Reference Link
November 12, 2015
13:24 EDTINTCEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
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