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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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October 9, 2014
08:53 EDTHPQAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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07:34 EDTHPQHP has room to grow, gave conservative guidance, says Brean Capital
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06:55 EDTHPQAnalyst says PC company likely to get much of HP debt, Re/code reports
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06:52 EDTHPQTechnology producer settles China facility demonstrations, Reuters says
Hon Hai Precision Industry confirmed that it had settled a demonstration which involved close to 1K staff members at its Chongqing plant in China, and noted that manufacturing at the facility was not affected by the strike, according to Reuters, citing a statement from the company. Hon Hai constructs Apple (AAPL) products, as well as HP (HPQ) and Cisco (CSCO) computers and servers. The Chongqing facility isn't listed by Apple as one of its certified suppliers. Reference Link
06:40 EDTFFIVSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
06:29 EDTHPQIDC: Worldwide PC shipments down 1.7% in Q3, DigiTimes reports
Worldwide PC shipments are down 1.7% with 78.5M units shipped in Q3, reports DigiTimes, citing the IDC. Shipments in the US grew 4.3% to 17.3M, with growth centered from strong momentum in te portables category. Reference Link
October 8, 2014
16:56 EDTHPQGartner says worldwide PC shipments in Q3 declined 0.5%
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13:20 EDTFFIVF5 Networks shares overvalued, says Northland
Northland believes F5 Networks shares are overvalued due to lower growth, competitor guidance reduced due lengthening U.S. sales cycles, and lack of priority spending for ADC's. Shares are Market Perform rated with a $110 price target.
11:04 EDTHPQEMC advances after activist letter, report on HP merger talks
Shares of EMC (EMC) are rising slightly in a down market after activist investor Elliott Management disclosed that it wrote in a letter to the company's board that it had heard of "acquisition interest in EMC's assets on the part of several large companies." The firm called on EMC to pursue M&A opportunities and spin off its VMware (VMW) subsidiary. WHAT'S NEW: Since July, several large companies have expressed "acquisition interest" in EMC's assets, Eliiott wrote. Acquisitions of EMC's assets by these companies would be logical from a strategic perspective, the firm added. The parties that have expressed interest could afford to buy all of EMC or a number of its assets, according to Elliott. EMC should look to spin off VMware because owning VMware is holding down the value of EMC's stock and damaging its relationship with its customers, the investor stated. VMware is hurting EMC by competing with EMC's customers, Elliott explained. Elliott Management noted that is affiliates collectively own or have economic exposure to about 2.2% of the common stock and equivalents of EMC. WHAT'S NOTABLE: HP (HPQ) and EMC are still conducting due diligence on a potential merger, CNBC's David Faber reported this morning, citing sources. A deal is unlikely, but still possible, and would include a buy-in of VMware, Faber added. PRICE ACTION: In mid-morning trading, EMC rose 0.3% to $28.20, VMware slid 0.9% to $90.59 and HP dropped 1.2% to $34.80.
10:46 EDTHPQOptions with decreasing implied volatility
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09:53 EDTHPQHP, EMC still doing due diligence on potential deal, CNBC reports
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09:49 EDTHPQHP, EMC merger unlikely but still possible, CNBC's Faber says
09:48 EDTHPQHP, EMC still doing work on potential deal, CNBC reports
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07:22 EDTIBMIBM to make renewed push around 'Watson' AI system, FT reports
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06:13 EDTHPQNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
October 7, 2014
11:27 EDTHPQHP non-public info may relate to Rackspace, Betaville speculates
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10:43 EDTHPQOptions with decreasing implied volatility
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08:09 EDTHPQHP undisclosed info seen pointing to life in EMC talks, Bloomberg reports
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07:48 EDTIBMU.S. Chamber of Commerce to hold a discussion
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06:29 EDTIBMIBM, Globalfoundries reignite discussions for chip division, Bloomberg says
IBM and Globalfoundries have restarted discussions for IBM to sell its unprofitable chip production division, according to Bloomberg, citing a person familiar with the matter. The source said that IBM could pay Globalfoundries more than $1B to take over the unit. Reference Link
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