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Stock Market & Financial Investment News

News Breaks
August 8, 2014
11:51 EDTNVDA, INTC, QCOM, BRCMNVIDIA rallies after Q2 quarter profit, Q3 revenue outlook top estimates
Shares of graphic chip maker NVIDIA (NVDA) are rallying after the company’s second quarter profit and third quarter revenue outlook surpassed analysts’ consensus estimates. WHAT'S NEW: Last night, NVIDIA reported second quarter adjusted EPS of 30c, beating analysts' consensus estimates of 20c, on revenue of $1.1B, in line with estimates. Q2 adjusted gross margin came in at a record 56.4%., the company said. Chief Executive Officer Jen-Hsun Huang noted that the company saw strong gains in Gaming, Datacenter & Cloud and Mobile, and said the company's Tesla datacenter business is benefitting from stron gdemand from cloud service providers. The executive said that the company's SHIELD tablet is generating "considerable excitement." WHAT’S NOTABLE: Looking ahead to the third quarter, NVIDIA expects revenue of $1.2B, plus or minus 2%, versus consensus $1.16B. GAAP and non-GAAP gross margins are expected to be 55.2% and 55.5%, respectively, plus or minus 50 basis points. GAAP operating expenses are forecast at approximately $463M; non-GAAP operating expenses are expected to be approximately $416M. Capital expenditures are seen at approximately $40M-$50M. During the first half of the year, NVIDIA said it returned $594M of the $1B it intends to return to shareholders in fiscal 2015. ANALYST REACTION: This morning, research firm Needham upgraded NVIDIA to Buy from Hold. The firm believes that earnings volatility has been reduced and margins have been raised by the change in the company's strategy. The firm, which has a price target of $23 on shares, believes that the stock's decline has created a good entry point. Another firm, Brean Capital, maintained a Hold rating on the shares with a mid-point target range of $20. Brean expects gross margins to be negatively affected in the second half of the year due to strength in the Tegra processor, and expects the ramp of Tegra to drive the revenue growth in Q3. The firm recommended waiting for a decline before becoming more constructive on the stock. PRICE ACTION: In late morning trading, NVIDIA rose $1.31, or 7.5%, to $18.77 on nearly twice its average daily trading volume. Including today’s advance, the stock has gained approximately 28% over the past twelve months. OTHERS TO WATCH: Other companies in the chip space include Intel (INTC), up 0.5%, Qualcomm (QCOM) up 0.6%, and Broadcom (BRCM), up 1.2%.
News For NVDA;INTC;QCOM;BRCM From The Last 14 Days
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October 22, 2014
09:21 EDTBRCMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
08:18 EDTINTCVCE to become an EMC company
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07:52 EDTINTCIntel recent weakness a buying opportunity, says Jefferies
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06:44 EDTINTCIntel may face challenges over CPU product line in 2Q15, DigiTimes reports
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06:26 EDTINTCIntel Capital announces investments from China Smart Device Innovation Fund
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October 21, 2014
18:36 EDTBRCMOn The Fly: After Hours Movers
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17:37 EDTBRCMBroadcom says in better strategic position for share buybacks vs. last quarter
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16:58 EDTBRCMBroadcom says broadband/connectivity business to be down in Q4
Says continues to see solid growth in set top boxes. Expects to incur $60M in restructuring charges over next 12 months. Comments from company's Q3 earnings conference call.
16:52 EDTBRCMBroadcom reports Q3 adjusted product gross margin 54.3%
16:39 EDTBRCMBroadcom sees Q4 GAAP revenue about $2B-$2.15B, consensus $2.11B
Sees Q4 non-GAAP gross margin 55%, plus or minus 75bps.
16:27 EDTBRCMBroadcom up over 4% following Q3 results, Q4 guidance
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16:09 EDTBRCMBroadcom sees Q4 GAAP product gross margin 53% plus or minus 75bps
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16:08 EDTBRCMBroadcom CEO says delivered record quarterly revenue in Q3
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16:05 EDTBRCMBroadcom reports Q3 adjusted EPS 91c, consensus 84c
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15:30 EDTBRCMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
14:19 EDTBRCMBroadcom volatility elevated into Q3 and outlook
Broadcom October weekly call option implied volatility is at 65, November is at 28, December is at 27, January is at 25; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today after the market close.
14:04 EDTBRCM, QCOMEarnings Preview: Analysts divided on Broadcom ahead of Q3 report
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07:05 EDTBRCMMicrosemi introduced its new RPF technology
Microsemi (MSCC) introduced at the Broadband World Forum, or BBWF, 2014 its new reverse power feed, or RPF, technology, a critical technology for FTTdp and G.fast deployments. G.fast, the new xDSL standard for 1gbps over copper, has a maximum expected range of 250 meters. Microsemi's RPF for DSL applications demonstrated at BBWF, are designed to be used in conjunction with the VDSL2 and G.fast chipsets from Broadcom (BRCM).
06:15 EDTINTCIntel may stop providing subsidies for mobile solutions, DigiTimes reports
Intel may stop providing subsidies for mobile device solutions to eliminate loses from the business, reports DigiTimes. According to sources from PC players, however, Intel is likely to continue offering subsidies to some of its larger clients, like Asustek Computer, through different methods in order to maintain orders. Reference Link
October 17, 2014
16:55 EDTINTCStocks end volatile week lower amid oil price plunge
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