New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 19, 2014
13:43 EDTTXN, NVDA, BRCM, MUAnalyst sees value in semiconductors, upgrades several in space
Shares of several semiconductor companies are rising after their shares were upgraded to Outperform from Sector Perform by RBC Capital in a note to investors earlier today. WHAT'S NEW: The stock multiples of semiconductor makers should be higher, RBC Capital argued in a note about the sector. In conjunction with that note, the firm upgraded its ratings on several names in the space, including, Micron (MU), NVIDIA (NVDA), Texas Instruments (TXN), and Broadcom (BRCM). Micron, which develops computer memory products, should benefit from higher gross margins generally and strong prices for DRAM in particular given tight supplies, RBC analyst Doug Freedman wrote. Additionally, Micron could return cash to shareholders, he stated. Freedman raised his price target on the shares to $34 from $27. NVIDIA is likely to benefit as it sells chips for use in higher value markets, such as gaming systems and automobiles, the analyst contended. Moreover, NVIDA's past investments should allow it to control its spending more tightly going forward, resulting in strong cash flows, according to Freedman. The company's current strategies are more likely to enable its free cash flow to grow than its previous strategies, the analyst indicated, hiking his price target on the stock to $26 from $21. Like NVIDIA, Texas Instruments is likely to benefit as it sells chips into more lucrative markets, according to Freedman. In Texas Instruments' case, these markets include communications and industrial sectors, as well as the automotive space, he wrote. Freedman increased his price target on TI's shares to $57 from $49. Finally, Broadcom should benefit from strength in both its core broadband business and its Infrastructure & Networking Group, the analyst believes. Given the outlook for those businesses, the stock is undervalued, he contended. Also likely to boost the company is stronger demand for its mobile and wireless products due to the proliferation of advanced connectivity systems such as LTE, the analyst believes. The analyst raised his price target on Broadcom to $40 from $33.
News For MU;NVDA;TXN;BRCM 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 | all recent news | >>
July 22, 2015
15:02 EDTMUOptions Update; July 22, 2015
Subscribe for More Information
14:51 EDTTXN, BRCMEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
14:14 EDTTXNEarnings Watch: TI upgraded at UBS, Raymond James since last report
Texas Instruments (TXN) is expected to report second quarter earnings after the close on Wednesday, July 22, with a conference call scheduled for 5:30PM EDT. Texas Instruments is a global semiconductor manufacturer operating in four segments: Analog, Embedded Processing, Wireless and Other. EXPECTATIONS: Analysts are looking for earnings per share of 65c on revenue of $3.26B. The consensus range is 64c-68c on revenue of $3.25B-$3.31B, according to First Call. In its previous earnings release, Texas Instruments said it expected Q2 EPS of 60c-70c on revenue of $3.12B-$3.38B. LAST QUARTER: On April 22, Texas Instruments reported Q1 earnings per share of 61c, falling just short of the consensus 62c forecast. Its Q1 revenue was $3.15B, below the consensus forecast of $3.2B. NEWS: Less than one week after reporting Q1 earnings, Texas Instruments announced that it was working with SIGFOX to increase IoT deployments using the Sub-1 GHz spectrum. On June 18, Texas Instruments named Janet Clark to its board of directors, which was made effective on July 15. Clark, who spent the first 20 years of her career in investment banking and financial consulting before serving as CFO at several energy companies, most recently spent a decade at Marathon Oil (MRO). STREET RESEARCH: On the day after TI's last earnings report, Bank of America Merrill Lynch downgraded the stock to Neutral and lowered its price target to $59 from $62. The firm said 2015 sales growth will substantially decelerate and noted it expected shares to remain range-bound until visibility returns. Four days later, Raymond James upgraded Texas Instruments to Strong Buy with a $62 price target. The firm said at the time that the recent pullback in shares provided positive risk/reward given the company's dominant share in analog, high free cash flow and strong channel relationships. On July 20, UBS upgraded Texas Instruments to Buy from Neutral since its proprietary model suggested that the company's Q2 revenues should beat consensus by 2%. The firm said with the recent pullback, expectations for bad news and evidence of stable demand its Q2 revenue beat should surprise the Street view. UBS maintained its $55 price target on Texas Instruments shares. PRICE ACTION: In afternoon trading, Texas Instruments shares were down 2% at $49.24. Over the last three months, TI shares have dropped about 16%.
12:35 EDTTXNAnalog chip makers fall after Linear cites weak end market demand
Subscribe for More Information
11:00 EDTTXNTexas Instruments technical notes ahead of earnings
Subscribe for More Information
10:21 EDTMUTsinghua 'sounding out' Micron interest in deal, to make $23B bid, Nikkei says
Subscribe for More Information
09:48 EDTTXNTexas Instruments retesting recent low, levels to watch
The shares are at $48.48 at time of writing, close to the low of July 9th at $48.09. On a breakdown below that low, next support would be at $47.53. Resistance is at $49.32, the 10-day moving average.
05:55 EDTMUDRAMeXchange: DRAM prices to fall further, DigiTimes says
Subscribe for More Information
July 21, 2015
19:00 EDTBRCMOn The Fly: After Hours Movers
Subscribe for More Information
13:28 EDTTXNTexas Instruments July weekly volatility elevated into Q2 and outlook
Subscribe for More Information
10:04 EDTMUMicron spurning of Tsinghua a 'bargaining tactic,' blog author contends
Subscribe for More Information
July 20, 2015
16:01 EDTMUOptions Update; July 20, 2015
Subscribe for More Information
13:18 EDTMUOptions with increasing call volume
Subscribe for More Information
13:10 EDTMUMicron calls Tsinghua takeover offer unrealistic, Reuters reports
Micron has told Tsinghua Unigroup that its $23B takeover offer is unrealistic due to U.S. national security concerns, reports Reuters, citing people familiar with the matter. Sources said Micron believes the Committee on Foreign Investment in the United States, a government task force which Reuters notes has the power to stop mergers that threaten national security, would not approve Tsinghua's proposed deal. Micron has not formally hired an investment bank because it is not seriously considering Tsinghua's offer, the sources added. Reference Link
12:58 EDTMUMicron does not think U.S. would approve deal with Tsinghua, Reuters reports
Subscribe for More Information
10:17 EDTMUHigh option volume stocks
Subscribe for More Information
10:00 EDTTXNOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:34 EDTMUActive equity options trading on open
Subscribe for More Information
08:48 EDTTXNTexas Instruments upgraded to Buy at UBS
As reported previously, UBS upgraded Texas Instruments to Buy from Neutral as their proprietary model suggests Q2 revenues should beat consensus by 2%. The firm said with the recent pullback, expectations for bad news and evidence of stable demand its Q2 revenue beat should surprise the Street view. UBS maintained its $55 price target on Texas Instruments shares.
07:59 EDTTXNTexas Instruments upgraded to Buy from Neutral at UBS
Subscribe for More Information
1 | 2 | 3 | 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