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Stock Market & Financial Investment News

News Breaks
January 15, 2013
12:17 EDTINTC, MLNXMellanox advances after UBS ups rating to Buy
Israel's Mellanox (MLNX), which develops chips that enable data transmission among different devices, is climbing after UBS analyst Steven Milunovich upgraded the stock to Buy from Neutral. The stock's risk/reward ratio is compelling, as the shares are unlikely to drop by a large amount, the analyst said earlier today in a note to investors. Mellanox's InfiniBand switch is moving into new markets, and should gain market share in the storage space, he wrote. Intel (INTC) is likely to enter Mellanox's market in 2014 or 2015, but that risk is already reflected in Mellanox's stock price, according to Milunovich, who raised his price target on the shares to $65 from $56. In early afternoon trading, Mellanox climbed $1.80, or 3.56%, to $52.31.
News For MLNX;INTC From The Last 14 Days
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July 15, 2015
14:53 EDTINTCNotable companies reporting after market close
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10:01 EDTINTCOn The Fly: Analyst Initiation Summary
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07:31 EDTINTCIntel target lowered, removed from Franchise Pick list at Jefferies
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06:48 EDTINTCIntel initiated with a Neutral at Mizuho
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July 14, 2015
16:01 EDTINTCOptions Update; July 14, 2015
iPath S&P 500 VIX Short-Term Futures down 15c to 17.76 Option volume leaders: AAPL FB BAC T AMZN BABA INTC JPM LVS AAL CHK MSFT NFLX TSLA TWTR MPC
15:27 EDTINTCEarnings Watch: Bernstein says sell Intel ahead of Q2 report
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15:10 EDTINTCIntel technical comments ahead of earnings
The key technical feature, best seen on a 5-year chart, is a potential bearish head and shoulders top. On bearish news or outlook, a move below $28.50 would confirm that the pattern is active. If the pattern were to remain active and complete, downside potential over time would be to the $21 to $20 area. If the news is instead a bullish surprise, the first resistance level of note would be at $32.08. Additional upside would be at $34.75, which is the top of the right shoulder of the pattern. If price broke out above the top of the pattern, it would be voided. Next resistance would then be at $36.37.
10:52 EDTINTCAnalysts say Micron could be sold, but not at price Tsinghua said to offer
Research firms have reacted to a Wall Street Journal report, published last night, that Chinese chip maker Tsinghua had offered to acquire Micron (MU) for $23B, or $21 per share. Summit Research said that Tsinghua would probably raise its bid, while JMP Securities wrote that the deal would be logical from Tsinghua's perspective. However, Piper Jaffray contended that the reported buyout offer is illogical and Cowen agreed, saying that the deal makes no sense for shareholders. ANALYST REACTION: Tsinghua may have indicated that it was making the "low ball" offer in order to gauge the reaction of Micron's management and shareholders to it, Summit Research analyst Srini Sundarararjan contended in a note to investors. Tsinghua will probably increase its bid, the analyst predicted, adding that he expects Micron's stock to reach $21 soon. Sundarararjan kept a $34 price target and Buy rating on Micron. JMP Securities analyst Alex Gauna wrote that the deal would be logical for Tsinghua, as it would allow the Chinese company to access leading edge process technology, enable it to deliver more complete system solutions, and give it access to 3D NAND technology. The analyst, who believes that other Chinese companies may make competing bids for Micron, finds it difficult to believe that Micron would accept an offer more than 5%-10% below its 52-week high of $36.50. Piper Jaffray analyst Ruben Roy countered that the deal makes sense for Tsinghua and China, but not for Micron. If a takeover of Micron was based on the average valuation that companies in Micron's sector have received in takeover deals over the last 18 months, it would fetch a takeover price of $43 per share, Roy estimated. Micron and Tsinghua are more likely to reach an intellectual property sharing deal than complete a takeover transaction, according to Roy, who kept an Overweight rating on Micron. Similarly, Cowen analyst Timothy Arcuri wrote that the $21 per share price wouldn't make sense for Micron's shareholders, since it's barely above the estimated replacement cost of the company's capacity. The analyst indicated that he does not believe that Tsinghua would actually make the deal and he thinks that the U.S. Department of Justice would not approve the deal if it does get offered. WHAT'S NOTABLE: In a separate note, Summit's Sundarararjan, noting that Intel (INTC) has a 20% stake in Tsinghua. contended that the U.S. chip giant probably "midwifed" Tsinghua's offer for Micron. The analyst says that Intel "carries a lot of weight" with the U.S. Department of Justice and he believes that the DOJ could approve the deal. PRICE ACTION: In morning trading, Micron jumped 11% to $19.60. Several other semi chip related stocks were also rising, with SanDisk (SNDK) gaining 4%, Advanced Micro Devices (AMD) advancing 3% and Atmel (ATML) adding 2%.
10:01 EDTINTCOn The Fly: Analyst Downgrade Summary
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09:35 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL FB BAC T AMZN BABA INTC JPM LVS AAL CHK MSFT
07:40 EDTINTCCiti sees arbitrage opportunity in Altera ahead of buyout
Shares of Altera (ALTR) currently trade at a 7.5% discount to Intel's (INTC) buyout offer of $54, Citi analyst Christopher Danely points out today in a research note. Danely expects the deal will go through without any antitrust issues. As such, he sees an arbitrage opportunity in Altera. He raised his price target for shares to $54 from $43. The chipmaker closed yesterday up 50c to $50.25. Shares of Intel (INTC) are trading down 24c to $29.49 in pre-market trading after Bernstein downgraded the name to its sell-equivalent Underperform.
07:06 EDTINTCIntel July volatility elevated into Q2 and outlook
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06:41 EDTINTCMicron, Tsinghua deal 'probably won't happen,' WSJ reports
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06:36 EDTINTCIntel downgraded to Underperform from Market Perform at Bernstein
Bernstein analyst Stacy Rasgon downgraded Intel to Underperform ahead of the company's Q2 results and cut his price target for shares to $25 from $29. Rasgon believes weaker than expected Data Center Group results is a "real possibility," which he feels would be "much worse" than weak PCs.
05:46 EDTINTCIntel may have 'midwifed' Tsinghua bid for Micron, says Summit Research
Summit Research analyst Srini Sundararajan says Tsinghua Unigroup's reported $23B offer for Micron (MU) is highly likely to have been "midwifed" by Intel (INTC). Intel owns 20% of Tsinghua, Sundararajan points out. The analyst thinks the potential merger will "only have a few objections to work through," despite doubt from investors that the deal will be allowed by the Department of Justice. Sundararajan has viewed Micron as an acquisition candidate and keeps a Buy rating on the name with a $34 price target after the Wall Street Journal reported last night that the state-owned Tsinghua offered $21 a share for Micron. The chip maker is up $1.99 to $19.60 in pre-market trading.
July 13, 2015
16:00 EDTINTCOptions Update; July 13, 2015
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14:17 EDTMLNXBrocade slips after RBC cuts rating to Sector Perform
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08:39 EDTINTCIntel June quarter revenue likely to miss expectations, says JMP Securities
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08:33 EDTMLNXMellanox selected by Bull for EDR 100Gb/s InfiniBand technology
Mellanox announced that Bull, the Atos brand dedicated to its technology products and software, is utilizing Mellanox’s EDR 100Gb/s InfiniBand for its bullx B700 Direct Liquid Cooling blade system.
07:18 EDTINTCHP announces HPC alliance with Intel
HP (HPQ) announced a High Performance Computing, or HPC, alliance with Intel (INTC) created to advance customer innovation and help expand accessibility of HPC to enterprises of all sizes. To increase accessibility of HPC, the companies will launch a new Center of Excellence, which is designed to bring a community of experts from both companies to support customers in planning, developing, deploying and managing HPC solutions.
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