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Stock Market & Financial Investment News

News Breaks
January 17, 2014
09:18 EDTINTC, BJRI, BK, SLB, CVT, SWKS, ARQL, NIHD, ARIA, AAPL, S, TMUS, TWTR, FDX, AMD, GE, MS, UPS, RDENOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Morgan Stanley (MS), up 1.25%... Schlumberger (SLB), up 1.3%... Skyworks (SWKS), up 11%. ALSO HIGHER: Sprint (S), up 2%, and T-Mobile (TMUS), up 3.5%, after The Wall Street Journal reported that Sprint has received proposals from at least two banks to finance a takeover of T-Mobile... ARIAD (ARIA), up 8.6% after reporting commercial availability of Iclusig for patients with certain leukemias... NII Holdings (NIHD), up 25% after announcing iPhone deal with Apple (AAPL)... ArQule (ARQL), up 23% after the data monitoring committee of its Phase 3 trial of tivantinib recommended continuation of the trial... Twitter (TWTR), up 4.2% after Re/code reported the company is close to acquiring payments start-up Stripe. DOWN AFTER EARNINGS: GE (GE), down 1.8%... Intel (INTC), down 4.4%. Chipmaking peer Advanced Micro Devices (AMD) down 5.7% after Intel report. ALSO LOWER: UPS (UPS), down 3.4% after guiding to Q4, FY13 earnings below forecast. Peer FedEx (FDX) also down 1% after UPS warning... Elizabeth Arden (RDEN), down 18.7% after withdrawing prior FY14 guidance and cut its second quarter earnings and revenue outlook... BJ's Restaurants (BJRI), down 11% after weak outlook.
News For INTC;UPS;MS;GE;AMD;FDX;TWTR;TMUS;S;AAPL;ARIA;NIHD;ARQL;SWKS;CVT;SLB;BK;BJRI;RDEN From The Last 14 Days
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October 10, 2014
13:08 EDTINTCOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and saw several swings throughout the morning. Near midday the averages were mixed, with the Dow a bit higher and the Nasdaq weighed down by weakness across the semiconductor sector. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. COMPANY NEWS: Shares of a number of semiconductor makers, including industry giant Intel (INTC), were sharply lower after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. Near noon, Microchip dropped 11%, Intel fell almost 4%, Texas Instruments (TXN) slipped over 6%, Micron (MU) dropped 6% and Fairchild (FCS) declined 12%. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied 35% after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Among the noteworthy losers were a number of companies that, similarly to Microchip, warned that their quarterly results will likely miss expectations, including Procera Networks (PKT), which plunged 34%, Manitowoc (MTW), which fell 9%, and Sizmek (SZMK), which dropped 21%. INDEXES: Near midday, the Dow was up 38.02, or 0.23%, to 16,697.27, the Nasdaq was down 35.89, or 0.82%, to 4,342.45, and the S&P 500 was up 0.42, or 0.02%, to 1,928.63.
12:11 EDTARIAOptions with increasing implied volatility
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11:45 EDTTWTRStocks with call strike movement; TWTR GPRO
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11:23 EDTTWTRTwitter falls after bounce attempt, levels to watch
The stock is heading lower after a bounce attempt off the session low at $51 failed to hold. At the current price of $52.26, next support is at the low of the day. Resistance is at $52.77, the peak price of the recent bounce.
10:29 EDTINTC, SWKSMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
10:16 EDTINTCIntel falls with semiconductor peers, levels to watch
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10:12 EDTAAPLApple to remove Bose products from retail stores, MacRumors reports
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10:01 EDTTMUSOn The Fly: Analyst Upgrade Summary
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09:38 EDTTWTR, INTC, AAPLActive equity options trading on open
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09:35 EDTSSprint downgraded to Sell from Hold at Evercore
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09:00 EDTARIAOn The Fly: Pre-market Movers
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07:56 EDTINTCIntel Q3 results may be near-term catalyst, says Stifel
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07:46 EDTARIAARIAD announces PRAC of EMA recommends Iclusig for continued EU use
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07:39 EDTAAPLApple underappreciated but Icahn estimates aggressive, says UBS
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07:27 EDTTMUST-Mobile upgraded to Buy from Hold at Jefferies
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07:25 EDTGEGE CEO to continue shedding divisions in FY15, Bloomberg says
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07:21 EDTGEGE expects data division to exceed $1B in sales this year, Reuters says
GE CEO Jeff Immelt said that the company was en route to gross over $1B in sales from its industrial data-analysis division in FY14, and is looking to broaden the availability of its software platform in FY15, according to Reuters, citing comments from Immelt. Reference Link
07:08 EDTAAPLApple given at least 3 days to block info in GT bankruptcy case, Reuters says
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07:04 EDTAAPLAmazon in talks to join digital locker for movies. WSJ reports
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05:45 EDTTMUST-Mobile upgraded to Buy from Hold at Jefferies
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