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Stock Market & Financial Investment News

News Breaks
January 27, 2014
08:12 EDTMUMicron sees Q2 charge about $10M for convertible debt repurchases
Micron Technology announced that the company, in privately-negotiated transactions, had repurchased approximately $26M in aggregate principal amount of its 1.875% Convertible Senior Notes due 2031 for $65M in cash, approximately $100M in aggregate principal amount of its 2.375% Convertible Senior Notes due 2032 for $249M in cash and approximately $38M in aggregate principal amount of its 3.125% Convertible Senior Notes due 2032 for $93M in cash. The company anticipates that the closings of these repurchases will be completed by January 28. Following the closings of these repurchases, the company estimates that approximately $114M in aggregate principal amount of 2031B Notes, approximately $451M in aggregate principal amount of 2032C Notes, and approximately $412M in aggregate principal amount of 2032D Notes will remain outstanding. The company expects to record a charge in Q2 of approximately $10M associated with the repurchases of the notes. The company said, "We eliminated approximately 10M shares from our current dilutive share count, assuming a $23 stock price, and reduced the outstanding principal amount of our debt by approximately $164M."
News For MU From The Last 14 Days
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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 EDTMUOn 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
16:08 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.
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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May 15, 2015
16:28 EDTMUAppaloosa Management gives quarterly update on stakes
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16:01 EDTMUOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:40 EDTMUStocks with call strike movement; MU AMAT
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08:44 EDTMUMicron estimates lowered on weaker pricing at Nomura
Nomura lowered Micron estimates due to on-going softness in pricing due to the persistent weak PC backdrop. The firm lowered its August quarter earnings estimate to 61c from 75c, 2015 earnings estimate to $2.83 from $3.33, and 2016 to $3.33 from $3.75. Shares are Neutral rated with a $25 price target, down from $28.
08:16 EDTMUSamsung not engaged in DRAM price war with Micron, says Jefferies
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May 12, 2015
14:07 EDTMUFollow-up: Micron downgraded to Hold at Drexel Hamilton
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13:36 EDTMUMicron downgraded to Hold from Buy at Drexel Hamilton
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07:51 EDTMUDeutsche Bank to hold a conference
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May 11, 2015
16:00 EDTMUOptions Update; May 11, 2015
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May 8, 2015
16:05 EDTMUOptions Update; May 8, 2015
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