New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 25, 2014
13:13 EDTMRVL, MNK, AAPL, RAD, QCOR, LRCX, MUEinhorn 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 | 9 | all recent news | >>
June 19, 2015
09:37 EDTAAPLActive equity options trading on open
Subscribe for More Information
09:03 EDTMUMicron volatility elevated into Q3 and outlook
Subscribe for More Information
08:51 EDTMUMicron upgraded to Buy on sustainable margins and capex at Topeka
As previously reported, Topeka upgraded Micron to Buy from Hold and increased its price target to $34 from $30. The firm came away from an investor site visit incrementally more confident regarding PC demand and related DRAM pricing. Topeka's analyst believes Micron is at or ahead of plan on its 20nm DRAM ramp and will be able to keep DRAM capex flattish. In NAND, Micron is making steady TLC 3D NAND progress and expects gross margin improvement over the next several quarters. Topeka expects investor confidence in Micron's ability to sustain margins though cycles to increase over the next couple quarters as Micron executes.
07:16 EDTMUMicron upgraded to Buy from Hold at Topeka
Subscribe for More Information
06:18 EDTAAPLApple Music unable to secure rights to '1989' album, BuzzFeed News reports
Subscribe for More Information
June 18, 2015
14:31 EDTAAPLApple said to plan video camera for next Watch, 9to5Mac reports
Apple plans to add a "FaceTime" video camera, more iPhone independence and additional premium-priced variants with the next iteration of the Apple Watch, but may only keep, or slightly improved, the existing battery life with the next device, reported 9to5Mac's Mark Gurman, citing multiple sources familiar with the company's plans. Reference Link
13:02 EDTAAPLWorldwide wearables market forecast to grow 173.3% in 2015, IDC says
The wearables market maintained its upward trajectory in the first quarter of 2015 as new vendors, including Apple (AAPL), prepared to enter the market. A new forecast from the International Data Corporation, IDC, Worldwide Quarterly Wearable Device Tracker estimates that 72.1M wearable devices will be shipped in 2015, up a strong 173.3% from the 26.4 million units shipped in 2014. Shipment volumes are expected to experience a compound annual growth rate, CAGR, of 42.6% over the five-year forecast period, reaching 155.7M units shipped in 2019. "We expect smart wearables, those capable of running third party apps, to take the lead in 2016," added Ubrani. "Smart wearables like the Apple (AAPL) Watch and Micosoft's (MSFT) Hololens are indicative of an upcoming change in computing, and the transition from basic to smart wearables opens up a slew of opportunities for vendors, app developers, and accessory makers." Other companies that have been mentioned in the wearable tech group include Google (GOOG), GoPro (GPRO) and Fitbit (FIT). Reference Link
12:10 EDTAAPLContract electronic manufacturers underperform after Jabil results
Subscribe for More Information
12:04 EDTRAD, AAPL, MUActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
Subscribe for More Information
10:55 EDTMUStocks with call strike movement; MU BABA
Subscribe for More Information
09:44 EDTRADRite Aid falls, levels to watch
Subscribe for More Information
09:35 EDTRAD, MU, AAPLActive equity options trading on open
Subscribe for More Information
09:04 EDTRADOn The Fly: Pre-market Movers
Subscribe for More Information
08:17 EDTMUSusquehanna lowers Micron estimates, but says risk/reward attractive
Subscribe for More Information
08:07 EDTAAPLAnalog Devices secured design win in next iPhone, says Citi
Citi analyst Christopher Danely says he believes Analog Devices (ADI) has secured a design win in the next generation Apple (AAPL) iPhone. The win could contribute $160M in revenue and 10c in earnings per share in 2016, Danely tells investors today in a research note. He upped his price target for Analog shares to $66 from $55 but keeps a Neutral rating on the name. The analyst believes the Apple design win is already priced in with shares trading at 22 times his 2016 earnings estimate. Danely cites valuation for his Neutral rating on the stock.
07:09 EDTAAPLAlmost 20% of Apple Watch buyers have purchased spare band, Reuters says
Nearly 20% of Apple Watch buyers have also purchased a spare band for the watch, Reuters reports, citing data from Slice Intelligence. Slice estimates that Apple has sold 2.79M watches as of mid-June, the report says. The data shows that approximately 17% of Apple Watch shoppers have purchased more than one band, with the entry level sports brand as the highest seller at $49, Reuters says. Other popular bands are the quilted leather loop at $149 and the stainless steel link bracelet for $449. Reference Link
07:04 EDTRADRite Aid cuts FY16 EPS view to 14c-22c from 19c-27c
Subscribe for More Information
07:01 EDTRADRite Aid reports Q1 EPS 2c including items, consensus 3c
EPS includes 2c on an after-tax basis, incurred in connection with the company’s pending acquisition of EnvisionRx. These incremental costs were partially offset by an increase in Adjusted EBITDA. Reports Q1 revenue $6.6B, consensus $6.65B. Reports Q1 SSS up 2.9%, consisting of a 0.6% increase in front-end sales and a 3.9% increase in pharmacy sales.
06:57 EDTMNKMallinckrodt says Questcor facing multi-state antitrust probe
Subscribe for More Information
05:50 EDTMRVLMarvell upgraded to Neutral from Sell at Goldman
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 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