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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
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May 27, 2015
14:01 EDTBRCMBroadcom jumps 8.5% after Dow Jones report on Avago takeover talks
Avago Technologies (AVGO) shares are up nearly 5% following the report.
14:00 EDTBRCMBroadcom in advanced talks to be acquired by Avago, Dow Jones reports
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10:35 EDTNVDA, BRCMBMO Capital to hold a tour
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09:28 EDTBRCMBroadcom WiFi risks misplaced, says BofA/Merrill
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08:34 EDTNVDANVIDIA checks positive, says JMP Securities
After conducting checks, JMP Securities says that Nvidia (NVDA) appears to be dominating the high-end gaming category, and it expects Nvidia to play a leading role in any car developed by Apple (AAPL). The firm adds that the Nvidia Enterprise, Cloud, and HPC engagements continue to rise at a pace well in excess of computing market fundamentals. It reiterates the stock as a Best Idea. .
07:07 EDTMUJefferies recommends buying shares of Micron
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May 22, 2015
10:38 EDTMUMizuho says buy NXP, Micron, ON Semi
Mizuho Securities initiated coverage of a number of chip makers in a note to investors last night. Among its recommendation in the space, NXP Semiconductors (NXPI), Micron (MU), and ON Semiconductor (ON) were called out with Buy ratings. NXP: NXP Semiconductors dominates the mobile payment market with its NFC products, Mizuho analyst Vijay Rakesh wrote. The company's NFC chips are used in Apple's (AAPL) Apple Pay and NXP has a strong mobile payment ecosystem in China, the analyst explained. NXP Semiconductors is also a leader in providing chips used to enhance credit card security, as its Chip+Pin system has a 75% share of the global market and is in the process of being deployed in the U.S, according to Rakesh. Going forward, NXP's growth should be driven by the automotive products of Freescale, which the company acquired earlier this year, the analyst stated, adding that NXP should derive strong synergies and cash flow from the deal. He set a $140 price target on the stock. MICRON: Sales of flash memory device maker Micron's DRAM products should be boosted by a PC rebound in the second half of this year, according to Rakesh. Additionally, the company's new CFO could make its actions more predictable, pleasing investors, the analyst stated. ON: ON Semiconductor should benefit from its acquisition of Aptina, which gave ON a significant presence in the Advanced Driver Assistance Systems, or ADAS, market, Rakesh believes. ADAS is likely to grow rapidly around the world, driven by mandates, the analyst predicted. A second positive catalyst for ON will be the proliferation of wireless charging, added the analyst, who set a $16 price target on the shares. PRICE ACTION: In early trading, NXP rose nearly 1% to trade nearly $108, Micron gained 2.6% to $27.61, and ON was fractionally higher. Other semiconductor makers initiated with Buy ratings by the firm include Skyworks (SWKS), Synaptics (SYNA), Avago (AVGO) and Cypress Semiconductor (CY).
09:58 EDTMU, TXNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allison Transmission (ALSN) initiated with a Buy at Stifel... Avago (AVGO) initiated with a Buy at Mizuho... Blackstone (BX) initiated with a Positive at Susquehanna... Cellectis (CLLS) initiated with an Outperform at Oppenheimer... Cypress Semiconductor (CY) initiated with a Buy at Mizuho... Esperion (ESPR) initiated with a Sell at Chardan... H&R Block (HRB) initiated with an Overweight at Piper Jaffray... Horizon Pharma (HZNP) initiated with an Outperform at Leerink... M/A-COM (MTSI) initiated with a Buy at Goldman... Meritor (MTOR) initiated with a Hold at Stifel... Micron (MU) initiated with a Buy at Mizuho... Monster Worldwide (MWW) initiated with a Neutral at Piper Jaffray... NXP Semiconductors (NXPI) initiated with a Buy at Mizuho... National Storage (NSA) initiated with a Sector Weight at KeyBanc... ON Semiconductor (ON) initiated with a Buy at Mizuho... Qorvo (QRVO) initiated with a Buy at Goldman... SanDisk (SNDK) initiated with a Neutral at Mizuho... Sharps Compliance (SMED) initiated with a Buy at Stifel... Skyworks (SWKS) initiated with a Buy at Mizuho... StemCells (STEM) initiated with a Buy at Cantor... Synaptics (SYNA) initiated with a Buy at Mizuho... Synergy Pharmaceuticals (SGYP) initiated with a Buy at Canaccord... Texas Instruments (TXN) initiated with a Neutral at Mizuho... TriNet (TNET) initiated with a Neutral at Piper Jaffray... Vascular Biogenics (VBLT) initiated with a Buy at Roth Capital... Verifone (PAY) initiated with an Outperform at Imperial Capital... uniQure (QURE) initiated with an Outperform at Oppenheimer.
09:34 EDTMUActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
May 21, 2015
16:12 EDTTXNTexas Instruments initiated with a Neutral at Mizuho
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16:08 EDTMUMicron initiated with a Buy at Mizuho
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May 20, 2015
16:00 EDTMUOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
07:36 EDTMUMicron estimates, target lowered on PC weakness at Deutsche Bank
Deutsche Bank lowered estimates for Micron after its channel checks indicated DRAM price negotiations "remain challenging" in May given amid soft PC demand. The firm, however, believes PC demand will strengthen starting in July driven by seasonality and the launch of Windows 10. It thinks this will be the last cut to estimates and maintains a Buy rating on Micron. It lowered its price target for shares to $32 from $34.
07:36 EDTBRCMJPMorgan to hold a conference
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May 19, 2015
12:55 EDTNVDAPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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08:33 EDTNVDAMorgan Stanley cautious in near-term on PC names
Morgan Stanley is more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team continues to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. Morgan Stanley is cautiously optimistic on Western Digital (WDC) due to its diverse revenue drivers, sees value creation catalysts for Hewlett-Packard (HPQ) and believes Microsoft (MSFT) shares reflect the challenging PC market and Win 10. The firm is more cautious on semis such as NVIDIA (NVDA) given higher valuations, share loss at Advanced Micro (AMD), potential 2H margin pressure at Intel (INTC), and Morgan is cautious on PC DRAM stocks near-term due to weaker pricing.
May 18, 2015
16:00 EDTMUOptions Update; May 18, 2015
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10:57 EDTMUMicron May weekly calls active
Micron May weekly 26.5 and 27 weekly calls are active on total call volume of 35K contracts (3K puts). May weekly call option implied volatility is at 36, June is at 32, July is at 34; compared to its 90-day average of 35, active call volume suggests traders taking positions for large near term price movement.
10:32 EDTMUMicron management to meet with JMP Securities
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07:27 EDTTXNJPMorgan to hold a conference
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