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Stock Market & Financial Investment News

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October 3, 2013
04:55 EDTNYX, NYX, YHOO, YHOO, FDP, FDP, INTC, INTC, AET, AET, TDC, TDC, ACXM, ACXM, CNO, CNO, HBAN, HBAN, GTI, GTI, LNC, LNCCorporate Board Member to host a summit
10th Annual Boardroom Summit is being held in New York on October 3-4.
News For NYX;GTI;HBAN;CNO;ACXM;TDC;AET;INTC;FDP;YHOO;LNC From The Last 14 Days
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October 10, 2014
10:29 EDTINTCMicrochip 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.
10:16 EDTINTCIntel falls with semiconductor peers, levels to watch
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09:38 EDTINTCActive equity options trading on open
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07:56 EDTINTCIntel Q3 results may be near-term catalyst, says Stifel
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October 9, 2014
14:37 EDTYHOOYahoo looking to make Tumblr another YouTube, Business Insider says
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09:05 EDTTDCTeradata and Cloudera extend partnership for technology integration, development
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08:03 EDTAETWellPoint named top Managed Care pick at Jefferies
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07:54 EDTGTIGrafTech valuation offers 'exceptional' opportunity, says Jefferies
Jefferies believes current valuation levels offer an "exceptional" buying opportunity into shares of GrafTech. The firm lowered its price target for shares to $11 from $13.50 to account for the company's guidance cut, but points out its channel checks indicate the electrode market has bottomed. Jefferies sees "considerable" upside as the market improves and keeps a Buy rating on GrafTech.
07:03 EDTINTCIntel quarter to be in-line or modestly better, says Piper Jaffray
Piper Jaffray expects Intel's quarterly results on October 14 to be in-line to modestly above consensus. The firm's channel checks indicate PC demand trends will remain stable into year-end amid solid corporate demand. Piper reiterates an Overweight rating on Intel with a $37 price target.
October 8, 2014
16:56 EDTINTCGartner says worldwide PC shipments in Q3 declined 0.5%
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10:00 EDTINTCOn The Fly: Analyst Initiation Summary
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06:19 EDTYHOOYahoo lays off 400 employees in India, WSJ reports
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06:03 EDTACXMAcxiom partners with Starcom Mediavest Group for advertising in Europe
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October 7, 2014
16:33 EDTINTCIntel initiated with a Market Perform at Northland
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14:46 EDTGTIApple supplier GT Advanced recovers some of yesterday's losses
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13:34 EDTINTCIntel October volatility elevated into Q3 and revenue outlook
Intel October call option implied volatility is at 35, November is at 28, December is at 24; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q3 results after the market close on October 14.
10:29 EDTGTIGT Advanced lists Apple, Airgas, GrafTech, Ultra Clean among top 30 creditors
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10:02 EDTYHOOYahoo volatility at low end of one-year range
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09:40 EDTYHOOYahoo lays off up to 2,000 employees in India, TechCrunch reports
Yahoo has laid off up to 2,000 employees in India as a result of a move to consolidate into fewer offices, TechCrunch reports, citing local blog The Next Big What. Yahoo has confirmed the consolidation, but did not confirm how many people are affected by the effort. Reference Link
09:24 EDTYHOOFormer Yahoo CFO says AOL merger makes 'little sense,' CNBC reports
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