New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 25, 2014
13:13 EDTMRVL, QCOR, LRCX, MU, MNK, AAPL, RADEinhorn bought Lam Research shares, sold Rite Aid last quarter
Well-known investor David Einhorn said his hedge fund, Greenlight Capital, had taken a new long position last quarter in Lam Research (LRCX), which develops equipment for semiconductor companies. Also last quarter, Greenlight sold out of its position in Rite Aid (RAD), Einhorn revealed. WHAT'S NEW: Greenlight made a "medium-sized" new investment in Lam Research, Einhorn revealed in his quarterly letter to investors. As the size of transistors shrink, chip makers must run each layer of chips through the manufacturing line multiple times until they work properly, the investor stated. Consequently, the chip makers must buy more of Lam's tools for each manufacturing line, Einhorn explained. The valuations of many high momentum stocks in the tech sector are excessive, but not all tech stocks are too expensive, Einhorn contended. A number of tech stocks - including Apple (AAPL), Lam Research, Marvell Technology (MRVL) and Micron Technology (MU) - "have strong prospects and are undervalued," Einhorn declared. Greenlight holds long positions in all those stocks. Greenlight sold its position in Rite Aid because the company's sales and profits rose, as the hedge fund had expected, and the stock reached fair value, Einhorn explained. WHAT'S NOTABLE: Greenlight continues to be short Questcor (QCOR), which has "a laundry list of problems and risks," the investor said. Among these are ongoing criminal probes and a large number of adverse events, including deaths, experienced by a number of patients who were taking the company's only drug, Acthar, Einhorn wrote. Additionally, a number of insurers have moved towards limiting their reimbursement of the drug, he added. The FDA is examining lab reports which suggest that Questcor's product does not include a highly purified form of Acthar as promoted by the company but a degraded form of the drug, the investor alleged. Mallinckrodt Pharmaceuticals (MNK), which has agreed to buy Questcor, is not properly evaluating the risks of Questcor's drug, Einhorn stated. Mallinckrodt "is setting itself up to be a very attractive short sale candidate if the merger is completed," Einhorn believes. PRICE ACTION: In early afternoon trading, Lam Research lost 1.5% to $69, Rite Aid slid 3.5% to $7, Questcor lost 2% to $95, and Mallinckrodt dropped 3% to $74.50.
News For LRCX;RAD;MNK;QCOR;AAPL;MU;MRVL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | all recent news | >>
March 17, 2015
11:16 EDTMUMicron falls, levels to watch
Subscribe for More Information
09:39 EDTAAPLApple will ship 59M iPhones in CQ1, above consensus, says ITG Research
Subscribe for More Information
09:34 EDTAAPLActive equity options trading on open
Subscribe for More Information
09:27 EDTAAPLApple plans to allow trade-ins of Android, BlackBerry devices, Bloomberg says
Subscribe for More Information
09:15 EDTAAPLApple streaming service may pave way for bigger ambitions, says Cantor
Subscribe for More Information
09:07 EDTAAPLDISH's Sling TV launches on Xbox One
Subscribe for More Information
09:05 EDTAAPLMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
Subscribe for More Information
08:00 EDTMUMicron FY16 EPS estimate lowered at RBC Capital
Subscribe for More Information
07:42 EDTAAPLBoeing may produce satellite for tech giants, Reuters says
Subscribe for More Information
07:28 EDTAAPLApple TV may provide boost for advertising unit, Business Insider says
Subscribe for More Information
06:50 EDTAAPLBanks unhappy with high Apple Pay fraud rates, NY Times says
Subscribe for More Information
06:37 EDTAAPLAfter losing marketshare, Google now asks Firefox users to switch, BI says
Subscribe for More Information
05:57 EDTAAPLChina vendors to ship 50M Androids with fingerprint sensors, DigiTimes reports
China vendors is expected to ship 50M Android (GOOG) smartphones with fingerprint sensors in 2015, reports DigiTimes. According to sources at Taiwan-based IC backend service companies, Android smartphone vendors have adopted sliding-type fingerprint sensors, which are more competitive in pricing compared to press-type sensors used by Apple (AAPL). Reference Link
05:46 EDTAAPLApple set to launch online TV service this year, Financial Times reports
Subscribe for More Information
March 16, 2015
16:00 EDTAAPLOptions Update; March 16, 2015
Subscribe for More Information
15:24 EDTAAPLCablevision to provide HBO NOW via Optimum Online
Cablevision (CVC) and Time Warner's (TWX) Home Box Office announced that they have reached an agreement to offer standalone streaming service HBO NOW to Optimum Online customers via the internet. Optimum is the first cable provider to partner with HBO to offer the new service, which is expected to launch in April in time for the fifth season of Game of Thrones, the companies said. Cablevision plans to provide pricing and other particulars for HBO NOW in the coming weeks. Terms of the agreement were not disclosed. Apple (AAPL) and Time Warner announced on March 9 that HBO NOW will premier on Apple devices in April.
14:13 EDTAAPLApple to offer Android users rebates to switch to iPhones, 9to5Mac says
Subscribe for More Information
10:44 EDTAAPLNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
09:37 EDTAAPLActive equity options trading on open
Subscribe for More Information
08:24 EDTMUMicron pricing pressure to ease in 2H15, says Deutsche Bank
Deutsche Bank lowered its estimates on Micron to reflect near-term PC DRAM weakness, but the firm expects pricing pressure to ease in 2H15, driven by seasonal PC build, higher mobile content and a DDR4 upgrade cycle. The firm thinks the company will have a number of positive catalysts in 2016, and it keeps a $40 price target and Buy rating on the shares.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 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