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Stock Market & Financial Investment News

News For BMTI;LOW;WMGI;CSCO;ARUN;TSN From The Last 14 Days
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September 29, 2014
12:31 EDTCSCOIntel hires Christopher Young as general manager of Intel Security
Intel (INTC) introduced cybersecurity executive Christopher Young as Intel’s newest senior vice president and general manager of Intel Security. Young will join Intel’s management committee and report to Intel President Renée James. Young comes to Intel from Cisco (CSCO), where he was senior vice president of the global Security and Government Group, responsible for strategy, engineering and product development for the company’s security product business.
08:02 EDTCSCOCisco announces partnership with Equinix
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07:25 EDTCSCOOracle to hold a conference
Open World 2014 to be held in San Francisco on September 28-October 2.
September 28, 2014
20:10 EDTCSCOEMC buyout rumors could be good for VMware, Barron's says
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September 26, 2014
09:15 EDTWMGIWright Medical management to meet with Leerink
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September 24, 2014
10:58 EDTCSCOCisco CEO says not potential acquirer of EMC, Reuters reports
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09:38 EDTCSCOCisco CEO says not in merger talks with EMC, Reuters reports
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09:29 EDTCSCOCisco to hold a virtual news conference
Rob Lloyd, President of Cisco's Development & Sales, addresses customer requirements for a globally distributed, highly secure cloud platform in Media & Analyst Virtual News Conference to be held on September 29 at 10:30 am. Webcast Link
08:29 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in Los Angeles on September 24 hosted by Deutsche Bank.
September 23, 2014
08:56 EDTLOWLowe's management to meet with Deutsche Bank
Meetings to be held in San Mateo/San Francisco/Los Angeles on September 23 hosted by Deutsche Bank.
07:23 EDTCSCOCisco management to meet with UBS
Meeting to be held in New York on September 23 hosted by UBS.
07:19 EDTCSCOEMC's end game is a marriage with Cisco, says Macquarie
Macquarie views EMC's (EMC) merger talks with Hewlett-Packard (HPQ) as a "ploy" to bring Cisco (CSCO) to the bargaining table. The analyst is not surprised by reports that EMC's discussions with Hewlett-Packard stalled given the lack of synergies and views Cisco as a logical buyer due to strong synergies and defensive reasons. Macquarie said VMware (VMW) would make Cisco the leader in the growing Software Defined DataCenter market, allowing it to offer EMC a better deal than any other potential acquirer. Finally, the firm does not view the status-quo as a compelling option for EMC given the recent share strength, aggressive street estimates, and the upcoming retirement of Joe Tucci in February. Macquarie rates EMC a Neutral with a $32 price target, up from $28.
September 22, 2014
12:50 EDTCSCOEMC jumps after reports detail takeover talks
The shares of cloud application provider EMC (EMC) are rising in a down market after Wall Street Journal reported that the company had held talks about selling itself to HP (HPQ) and Dell. WHAT'S NEW: EMC held on-and-off merger talks with HP for almost a year, but those talks have ended, Wall Street Journal reported today. Dell also held talks with EMC about a takeover, the newspaper added. According to a CNBC’s David Faber, the takeover talks between HP and EMC went on for months, but the two sides couldn't agree on a price, as EMC wanted HP to pay a large premium to its stock price. Tiernan Ray of Barron's added today that the takeover talks between the companies could resume, citing a source. WHAT'S NOTABLE: The New York Post reported on September 11 that EMC was considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW). UBS analyst Steven Milunovich responded to The Post's report by writing on the same day that EMC had become a potential takeover target itself. HP, Oracle (ORCL) and Cisco (CSCO) could buy EMC, the analyst wrote. PRICE ACTION: In early afternoon trading, EMC added 1% to $30, while VMware added 1% to $95.
12:26 EDTCSCOEMC, HP merger talks could resume, Barron's reports
The merger talks between EMC (EMC) and HP (HPQ) could resume, Tiernan Ray of Barron's reports, citing a source. The companies had discussed HP selling its printer division, but only as "a down the road thing," once a deal was completed, Tiernan added, citing the source. Cisco (CSCO) and Oracle (ORCL) are still considered possible buyers for EMC, the reporter noted. Reference Link
11:18 EDTCSCOCisco management to meet with Oppenheimer
Meeting to be held in Boston on September 25 hosted by Oppenheimer.
09:54 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in San Francisco on September 22 hosted by Deutsche Bank.
06:11 EDTCSCOEMC explores merger, holds talks with HP, Dell, WSJ reports
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September 19, 2014
18:20 EDTLOWLowe's CEO Niblock sells nearly $28M of company stock near record high
In regulatory filings, it was disclosed that Lowe's CEO Robert A. Niblock sold nearly $28M worth of company stock from September 9-11. Lowe's stock has been climbing steadily over the past three months, and it made both a 52-week and record high of $54.81 on Friday, September 19.
September 18, 2014
10:40 EDTLOWPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
September 17, 2014
08:05 EDTCSCOCisco announces intent to acquire Metacloud
Cisco announced its intent to acquire privately held Metacloud. Upon completion of the acquisition, Metacloud employees will join Cisco's Cloud Infrastructure and Managed Services organization led by Faiyaz Shahpurwala, senior vice president. The acquisition of Metacloud is expected to be complete in 1Q15, subject to customary closing conditions.
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