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Stock Market & Financial Investment News

News Breaks
June 23, 2014
12:48 EDTORCL, MCRS, PRKR, QCOM, AVGO, PLXT, TEG, WECOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite higher manufacturing index readings in the U.S. and China. Bucking the trend, a similar reading in Europe fell from its May level in the preliminary, or "flash," looks at the purchasing managers indexes. The market opened slightly lower and the major averages have moved in a narrow range throughout the morning, though they have spent most of their time slightly below the flat-line. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing purchasing managers index for June rose to 57.5 from 56.4 in May. Existing home sales beat estimates with a 4.9% May rise to a 4.89M rate. In China, HSBC's flash manufacturing PMI rose to 50.8 from 49.4 last month, hitting a seven-month high and moving into expansion territory for the first time this year. In Europe, Markit's euro zone flash composite purchasing managers' index fell to 52.8 in June from 53.5 in May. COMPANY NEWS: Oracle (ORCL) confirmed an agreement to acquire MICROS Systems (MCRS) for $68 per share in cash in a transaction valued at $4.6B net of MICROS' cash. Oracle's purchase was well telegraphed, after Bloomberg first reported on June 17 that a deal between the two was close and The Wall Street Journal confirmed the news over this weekend prior to the announcement from the companies. Shares of the register system and hospitality software maker rose a bit over 3% to trade just below the acquisition price near noon, while Oracle was up nearly 1% following the announcement. MAJOR MOVERS: Among the other notable gainers were two other companies that agreed to be acquired: Integrys (TEG) jumped 12.5% after Wisconsin Energy (WEC) struck a deal to buy the company in a transaction valued at $9.1B and PLX Technology (PLXT) rose 9% this morning after Avago Technologies (AVGO) said it will buy the circuit maker for $6.50 per share in an all-cash deal. Shares of both buyers slipped after the deals were announced, with Wisconsin Energy falling more than 2.5% and Avago dropping nearly 1%. Also lower was ParkerVision (PRKR), which crashed 53% after a Florida judge ruled in favor of its competitor, Qualcomm (QCOM), in a patent infringement trial between the companies. INDEXES: Near midday, the Dow was down 27.42, or 0.16%, to 16,919.66, the Nasdaq was down 0.96, or 0.02%, to 4,367.07, and the S&P 500 was down 1.27, or 0.06%, to 1,961.60.
News For ORCL;MCRS;PRKR;QCOM;AVGO;PLXT;TEG;WEC From The Last 14 Days
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August 27, 2014
19:15 EDTMCRSCentene to replace MICROS in S&P 400 as of 9/3 close
09:53 EDTORCLOn The Fly: Analyst Initiation Summary
Bristol-Myers (BMY) initiated with a Hold at Deutsche Bank... ASML (ASML) initiated with a Hold at Stifel... Akamai (AKAM) initiated with an Outperform at RW Baird... Concur (CNQR) initiated with a Neutral at DA Davidson... CyrusOne (CONE) initiated with a Neutral at Citigroup... Eli Lilly (LLY) initiated with a Buy at Deutsche Bank... Garmin (GRMN) initiated with a Neutral at RW Baird... Merck (MRK) initiated with a Hold at Deutsche Bank... NetSuite (N) initiated with a Buy at DA Davidson... Oracle (ORCL) initiated with a Neutral at DA Davidson... Oxford Industries (OXM) initiated with a Buy at Wunderlich... Pfizer (PFE) initiated with a Buy at Deutsche Bank... ServiceNow (NOW) initiated with a Buy at DA Davidson... Workday (WDAY) initiated with a Neutral at DA Davidson... MannKind (MNKD) initiated with a Buy at Jefferies... STMicroelectronics (STM) initiated with an Underperform at Credit Suisse... Kirkland's (KIRK) initiated with an Outperform at Barrington.
09:12 EDTQCOMQualcomm China resolution unlikely to come soon, says Bernstein
After meeting with Qualcomm's management, Bernstein does not expect the company's China royalty issues to be solved very soon. The firm is not upbeat on the stock's risk/reward ratio and keeps a Market Perform rating on the shares.
07:34 EDTAVGOAvago Q3 results likely to beat expectations, says Oppenheimer
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06:06 EDTQCOMStocks with implied volatility below IV index mean; QCOM ITMN
Stocks with implied volatility below IV index mean; Qualcomm (QCOM) 14, InterMune (ITMN) 12 according to iVolatility.
August 26, 2014
17:33 EDTORCLOracle initiated with a Neutral at DA Davidson
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08:55 EDTQCOMEU antitrust regulators could open Qualcomm investigation, Reuters reports
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07:20 EDTQCOMTablets seen declining, notebooks growing in 2014, DigiTimes says
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06:08 EDTQCOMStocks with implied volatility below IV index mean; QCOM ITMN
Stocks with implied volatility below IV index mean; Qualcomm (QCOM) 13, InterMune (ITMN) 16 according to iVolatility.
August 25, 2014
06:14 EDTQCOMStocks with implied volatility below IV index mean; QCOM VRNG
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August 22, 2014
13:49 EDTORCLOregon sues Oracle over health exchange website
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11:26 EDTORCLSalesforce.com rallies following beat and raise quarter
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11:17 EDTAVGOPeregrine unlikely to receive competing bid, says Oppenheimer
Oppenheimer believes Peregrine (PSMI) is unlikely to receive a competing takeover bid to Murata's since Murata is Peregrine's largest customer and Avago (AVGO) and Skyworks (SWKS) are looking to diversify away from mobile. Opco thinks Murata may look to divest Peregrine's non-mobile business, and views Skyworks, RF Micro Devices (RFMD), Analog Devices (ADI), and M/A-Com Technology (MTSI) as logical buyers for the business.
06:35 EDTQCOMChina's NDRC say Qualcomm aims to end investigation, Reuters says
China's National Development and Reform Commission said that Qualcomm is aiming to end a probe into monopolistic tendencies and had showcased its desire to improve and fix pricing problems, according to Reuters, citing a statement from the NDRC. Reference Link
05:07 EDTPRKRParkerVision names Samsung as additional defendant in patent infringement suit
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August 21, 2014
17:00 EDTAVGOAvago files to sell $1B of 2% convertible senior notes due 2021
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16:13 EDTMCRSMICROS reports Q4 adjusted EPS 84c, consensus 71c
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09:00 EDTAVGOSeveral semi companies have positive read through from deal, says Sterne Agee
After Infineon (IFNNY) bought International Rectifier (IRF), Sterne Agee thinks the deal indicates that the shares ofother players in the sector - including Spansion (CODE), NXP Semiconductors (NXPI), and Avago (AVGO) - can rise further. The firm keeps Buy ratings on the latter three stocks.
05:50 EDTQCOMStocks with implied volatility movement; QCOM SNDK
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August 19, 2014
06:29 EDTAVGOMorgan Stanley remains a buyer of Avago
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