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September 30, 2015
08:57 EDTWDCWestern Digital receives $3.78B equity intestment by Unisplendour Corporation
Western Digital and Unisplendour Corporation have entered into an agreement under which a subsidiary of Unis will make a $3.78B equity investment in Western Digital. Under the terms of the investment, Unis has agreed to purchase newly issued Western Digital common stock at a price of $92.50 per share. Immediately following the closing of the investment, Unis will hold approximately 15% of Western Digital's issued and outstanding shares of common stock. Unis will have the right to nominate one representative to the Western Digital board of directors and will be subject to a five-year position standstill and voting restrictions. In addition, Unis has agreed to a five-year lock-up on its shares, with a limited number of shares becoming available for transfer each year. Proceeds from the investment will go toward strengthening Western Digital's balance sheet.
08:45 EDTMSFTNVIDIA price target raised to $30 from $28 at JMP Securities
JMP Securities increased its price target on NVIDA (NVDA) after Microsoft's (MSFT) cloud platform began offering NVIDIA's Grid 2.0 GPU virtualization solutions, JMP says that Microsoft's move "paves the way for broader Cloud adoption and further entrenchment of Nvidia Quadro solutions." The firm reiterates an Outperform rating on the stock.
07:47 EDTWDCWestern Digital volatility flat into receives $3.7B equity investment
Western Digital October weekly call option implied volatility is at 39, October is at 41, November is at 43; compared to its 52-week range off 21 to 46, suggesting non-directional price movement after receives $3.7B equity investment by Unisplendour Corporation.
06:14 EDTMSFTRackspace expected to partner with Amazon, WSJ reports
Rackspace Hosting (RAX) is expected to partner with Amazon (AMZN) to make it easier for corporate customers to move computing operations to Amazon Web Services from their own facilities, The Wall Street Journal reports. According to two sources, the partnership, which is similar to an agreement Rackspace signed with Microsoft (MSFT) in July, will be announced at a conference for AWS users next week. Reference Link
06:12 EDTEMCEMC's Goulden: Breaking off VMware 'wrong thing to do,' Re/code reports
EMC (EMC) president David Goulden said his firm will try to maintain its complex corporate structure amid pressure to spin off its stake in VMware (VMW), Re/code reports. "We believe strongly that breaking up is the wrong thing to do," Goulden said in an interview at Re/code's Code/Enterprise Series event. Reference Link
September 29, 2015
10:00 EDTSTX, WDCOn The Fly: Analyst Initiation Summary
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09:31 EDTEMCRe/code to hold a discussion
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09:03 EDTHPQ, INTCHP updates entry-level workstation
HP (HPQ) announced the HP Z240 Tower and Z240 SFF Workstations with next generation Intel (INTC) processors and HP Z Turbo Drive options, raising the bar for entry-level workstations, while providing the reliability of a workstation at the price point of a desktop PC. The Z240 is the latest update to the world's No. 1 ranked entry-level workstation, the HP Z230. As HP's most affordable workstation, the Z240 is ideal for customers in the video editing, MCAD/AEC, education, public sector and image viewing industries.
06:48 EDTINTCAMD stake sale talks with Silver Lake stalled, Bloomberg says
Advanced Micro Devices (AMD), a competitor of Intel (INTC), was in discussions to sell an approximate 25% stake to private equity firm Silver Lake Management before the talks were stalled, Bloomberg reports, citing people with knowledge of the matter. The two sides have put talks on hold after they failed to reach an agreement over price and strategy, the report says. AMD is looking into other strategic options, the report says. Reference Link
06:01 EDTMSFTMicrosoft to host conference call
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September 28, 2015
16:34 EDTMSFTMicrosoft to change financial reporting structure
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16:10 EDTHPQHP initiated with a Neutral at Sterne Agee CRT
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16:09 EDTSTXSeagate initiated with a Neutral at Sterne Agee CRT
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16:09 EDTWDCWestern Digital initiated with a Buy at Sterne Agee CRT
Target $95.
13:13 EDTMSFTMicrosoft comments on privacy, Windows 10 on blog
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12:06 EDTMSFTMicrosoft acquires Adxstudio, terms not disclosed
Bob Stutz -- Corporate VP, Microsoft Dynamics CRM -- disclosed in a blog post that Microsoft has acquired has reached a definitive agreement to acquire key product and technology assets of Adxstudio Inc., a provider of Web portals, online engagement solutions and application lifecycle management solutions for Microsoft Dynamics CRM. Stutz says, "With this acquisition of our long-time partner, our customers will immediately be able to take advantage of new and exciting ways to engage with customers online." Terms of the deal have not been disclosed. Reference Link
10:50 EDTINTCAnalyst more upbeat on Intel, downgrades Qorvo following trip to Asia
After traveling to Asia, Pacific Crest analyst Michael McConenell was more upbeat on the outlook for Intel (INTC), as well as smartphone chip makers Avago (AVGO) and Skyworks (SWKS). The analyst downgraded another smartphone chip maker, Qorvo (QRVO), to Sector Weight from Overweight, warning that the company's results may miss expectations down the road. BULLISH: Shipments of notebook computers appear set to exceed expectations by 5%-10% this month, after more of the devices seem to have been manufactured in August and September than in previous months, according to McConnell. Meanwhile, cloud customers are sparking a significant rebound in data centers' semiconductor demand, the analyst stated. Moreover, motherboard manufacturers say they are seeing increased demand for their products from desktop PC makers, the analyst stated. All of these trends bode well for Intel, indicated McConnell, who kept a $35 price target and Overweight rating on the shares. Demand for Avago's products appears to have remained healthy, given the company's low exposure to China and the strong demand for Apple's (AAPL) iPhone 6S devices, the analyst stated. Another research firm, Craig-Hallum, recently estimated that Avago generates $6.75 of revenue per iPhone 6S sold, up from the $6.50 it obtained from the previous generation of iPhones. Pacific Crest's McConnell kept a $180 price target and Overweight rating on the shares of Avago. Skyworks should benefit from strong near-term demand trends, driven by a shift to module architectures, McConnell contended. According to the analyst, the company's 2016 outlook is also strong. BEARISH: Analysts' "out-quarter estimates" for Qorvo are too high, as they expect the company to grow 8.4% each quarter, versus only 5.9% for Skyworks, McConnell stated. Qorvo is facing several headwinds, including struggles with a key customer, Chinese smartphone maker Xiaomi, and its inability to obtain more revenue per each iPhone sold, the analyst stated. These headwinds will probably prevent Qorvo from meeting analysts' expectations, warned McConnell. Additionally, the company will be hurt by the slowdown in the growth of the Chinese smartphone market, predicted the analyst, who cut his rating on the stock to Sector Weight from Overweight. PRICE ACTION: In morning trading, Intel rose 1.2% to $29.16, Avago dropped 1.7% to $124.56, Skyworks fell 3.6% to $84.58 and Qorvo declined 8.5% to $43.61.
10:43 EDTMSFTMicrosoft planning Google Cardboard VR competitor, TNW News says
Microsoft (MSFT) is working on a competitor to Google's (GOOG) Cardboard Virtual Reality program, TNW News reports. The Seattle-based tech giant is inviting participants to an event in Russia on October 17, offering cardboard headsets to those with "successful" suggestions, the report says. Microsoft is already developing its HoloLens "mixed reality" technology, the report says. Reference Link
07:39 EDTINTCIntel fundamentals improving, says Pacific Crest
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September 27, 2015
16:24 EDTQCOMQualcomm commits to invest $150M in Indian startups
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