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Stock Market & Financial Investment News

News Breaks
October 10, 2012
10:29 EDTNTAP, FFIV, AVT, IBM, HPQNetApp, F5 fall after Avnet issues profit warning
Avnet (AVT), which distributes various technology components and products, is dropping after the company reported earlier today that its first quarter earnings per share and revenue would be significantly below analysts' consensus estimates. The company blamed several factors for the shortfall, including better than expected sales in Asia where its profit margins are relatively low, and weaker sales in Western regions where its profit margins are higher. Sales at Avnet's Technology Solutions unit also came in below expectations, the company added. In a note earlier today to investors, research firm Oppenheimer wrote that NetApp's (NTAP) shares could be negatively affected by Avnet's weaker than expected results, as Avnet accounted for about 14% of NetApp's revenue from May-July, Oppenheimer reported. Another key Avnet partner is F5 (FFIV), as Avnet is the largest distributor of F5 products and accounts for 15%-20% of F5's revenue, the firm wrote. Oppenheimer believes that most of the weakness in Avnet's Technology Solutions unit was caused by weak server sales. As a result, the firm thinks that Avnet's weakness could bode badly for IBM (IBM) and HP (HPQ), which are both among the top buyers of Avnet's server solutions, according to the firm. In mid-morning trading, Avnet dropped 5.95% to $26.87, NetApp (NTAP) lost 2.27% to $29.52, F5 dropped 2.62% to $99.41, IBM (IBM) inched down 0.22% to $207.53, and HP gave back 0.21% to $14.34.
News For NTAP;FFIV;AVT;IBM;HPQ From The Last 14 Days
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September 16, 2014
14:46 EDTIBMIBM launches 'Watson Analytics' tools for businesses
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07:19 EDTIBMCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
September 15, 2014
15:46 EDTHPQCenturyLink said to have lined up financing for Rackspace, says Betaville blog
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12:00 EDTIBMIBM, Yonyou announce collaboration
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10:22 EDTHPQHP management to meet with Oppenheimer
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08:28 EDTFFIVF5 Networks price target raised to $151 from $135 at Pacific Crest
Pacific Crest increased its price target on F5 Networks as the firm says its checks with resellers suggest that F5 is benefiting from a seasonally strong federal and enterprise rebound and an expanding partner ecosystem. The firm is more confident in the company's earnings and multiple expansion outlook ,and it recommends buying the shares.
07:22 EDTIBMAir Force Association to hold a conference
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07:19 EDTIBM, NTAP, HPQSNIA to hold a conference
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September 12, 2014
15:29 EDTHPQHP exploring sale of Snapfish photo service, Reuters reports
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15:26 EDTHPQHP exploring sale of Snapfish photo service, Reuters reports
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September 11, 2014
18:30 EDTHPQHP, Russia plead guilty, sentenced for bribing Russian government officials
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16:10 EDTHPQHP acquires open source cloud software maker Eucalyptus
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11:17 EDTHPQEMC seen as potential target after said to mull VMware stake sale
EMC (EMC) is considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW), The New York Post reported today, citing unnamed sources. Calling The New York Post "surprisingly accurate" on M&A news, UBS said the likelihood of change at EMC has increased and it has become a potential takeover target. WHAT'S NEW: EMC is exploring the possibility of selling its stake in VMware, which could be acquired by HP (HPQ), according to one source, The Post reported. EMC could also look to sell other assets, the newspaper quoted a second unnamed source as saying. ANALYST REACTION: UBS analyst Steven Milunovich wrote that he is more convinced in the wake of the Post story that "something is up" at EMC. Although EMC has denied in the past that it would consider selling or spinning off VMware, the company could change its tune, the analyst stated. HP could buy VMware or all of EMC, while Oracle (ORCL) and Cisco (CSCO) are also potential buyers of EMC, Milunovich believes.The analyst kept a $33 price target and Buy rating on shares of EMC. WHAT'S NOTABLE: Activist investor Elliott Management, a hedge fund, has taken a $1B stake in EMC and wants the company to spin off VMware, The Wall Street Journal reported in July. Early last month, research firm FBR Capital wrote that an EMC spin-off of VMware could enhance shareholder value for both companies and make VMware a top acquisition candidate by a larger technology company. The firm kept an Outperform rating on EMC at that time. PRICE ACTION: In late morning trading, EMC was little changed at $29.50, down from its earlier high of $29.89. VMware fell 0.7% to $96.75, down from its earlier daily high of $97.86.
10:30 EDTHPQUBS sees increasing likelihood of change at EMC
UBS calls the New York Post "surprisingly accurate on M&A" after the paper reported that EMC (EMC) is considering the sale of its stake in VMware (VMW). The firm believes the likelihood for change at the company is rising. In addition, UBS says the industry should consolidate, and it views EMC as a potential target. UBS thinks Cisco (CSCO), Oracle (ORCL) and HP (HPQ) might be interested parties in owning part or all of EMC. The firm believes an HP, EMC merger would make sense. UBS has a Buy rating on EMC with a $33 price target.
07:07 EDTHPQEMC to explore selling VMware stake, NY Post reports
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06:35 EDTFFIVF5 Networks price target raised to $150 from $135 at Deutsche Bank
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September 10, 2014
08:31 EDTHPQRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
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September 9, 2014
14:04 EDTHPQHP price target raised to $43 from $40 at Argus
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08:03 EDTIBMAspera, EVS and Elemental deploy HD live video streaming cloud system
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07:17 EDTHPQThe Wireless Association to hold a conference
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