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Stock Market & Financial Investment News

News Breaks
May 13, 2014
04:55 EDTNVDA, NVDA, AMD, AMD, BRCM, BRCM, KLAC, KLAC, LRCX, LRCX, MXIM, MXIM, ALTR, ALTR, AMCC, AMCC, CAVM, CAVM, INVN, INVN, AXG, AXGCLSA to hold a tour
Silicon Valley Semi Tour travels throughout Silicon Valley meeting with semiconductor companies on May 13-14.
News For NVDA;INVN;CAVM;AMCC;ALTR;MXIM;LRCX;KLAC;BRCM;AMD;AXG From The Last 14 Days
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October 13, 2014
08:22 EDTLRCXLam Research upgraded to Conviction Buy from Buy at Goldman
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07:09 EDTNVDANVIDIA added to Best Ideas list at JMP Securities
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October 10, 2014
11:13 EDTKLAC, LRCXMicrochip not relevant to DRAM, NAND, says Summit Research
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10:29 EDTAMCCMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.” ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
October 9, 2014
14:53 EDTKLACCapital World Investors reports 10.5% passive stake in KLA-Tencor
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14:00 EDTAMDTiming of AMD CEO changes suggest another disappointing quarter, says Argus
After AMD announced last night that its CEO has stepped down, Argus notes that the change in the role is the fourth at the company since 2008 and that its suddenness suggests that its just ended quarter, which will be reported on in a week, will be disappointing. The firm believes executive turnover adds to the view that AMD’s business model is flawed or broken and Argus maintains its Hold rating on the stock.
10:00 EDTAMDOn The Fly: Analyst Downgrade Summary
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09:20 EDTAMDOn The Fly: Pre-market Movers
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08:08 EDTAMDAMD downgraded at Wedbush
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07:11 EDTAMDAMD downgraded to Neutral from Outperform at Wedbush
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October 8, 2014
18:31 EDTAMDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ruby Tuesday (RT), up 19.6%... Exar (EXAR), up 13.7% after reporting second quarter revenue guidance... Alcoa (AA), up 2.2%. ALSO HIGHER: Nuance (NUAN), up 2.5% following rumors that Carl Icahn will recommend that Apple (AAPL) buy the company... GrubHub (GRUB), up just under 1% after being initiated with a Buy at CRT Capital. DOWN AFTER EARNINGS: Kofax (KFX), down 20.1% after reporting first quarter revenue and fiscal 2015 revenue guidance below analyst estimates... ARC Group (ARCW), down 17%... E2open (EOPN), down 8.9%. ALSO LOWER: Gap (GPS), down 7.6% following September same store sales data and CEO transition... AMD (AMD), down 7% after announcing CEO transition.
18:21 EDTAMDAMD down 6.7% in after hours trading following departure of Rory Read as CEO
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16:17 EDTAMDAMD appoints Dr. Lisa Su as CEO
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10:00 EDTALTROn The Fly: Analyst Initiation Summary
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08:20 EDTBRCMQualcomm opportunity at Xiaomi almost rivals iPhone, says FBR Capital
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07:56 EDTBRCMBroadcom recently won large custom chip programs, says JPMorgan
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05:58 EDTAMDStocks with implied volatility above IV index mean; AVP AMD
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October 7, 2014
16:35 EDTALTRAltera initiated with a Market Perform at Northland
Target $35.
10:17 EDTBRCMSamsung outlook miss weighs on suppliers
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06:18 EDTAMDAMD to release next-generation notebook APUs, DigiTimes reports
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