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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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July 22, 2014
05:16 EDTPLXTPLX Technology reports Q2 continuing operations EPS 5c, consensus 3c
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July 18, 2014
10:11 EDTQCOMQualcomm July weekly volatility elevated into Q3 and revenue outlook
Qualcomm July weekly call option implied volatility is at 32, August is at 20, September, October and January is at 17; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on July 23.
July 16, 2014
11:29 EDTQCOMIntel hits 52-week high after results beat estimates
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08:08 EDTORCLOracle Social Cloud announces LinkedIn support for SRM platform
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July 15, 2014
08:10 EDTPRKRParkerVision to host ivnestor and analyst meeting
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07:50 EDTQCOMQualcomm estimates adjusted to reflect inventory transition, says Canaccord
Canaccord adjusted its estimates for Qualcomm to reflect an ongoing inventory transition in China from 3G to 4G devices. The firm continues to expect strong growth of smartphones, the upgrade to new air interface technologies, and strong market share gains to drive sales and earnings growth. Qualcomm shares are Buy rated with a $95 price target.
06:11 EDTQCOMSamsung, HiSilicon to sell more handset solutions to vendors, DigiTimes says
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July 14, 2014
12:49 EDTORCLOracle hosts an educational webcast
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10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
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10:00 EDTAVGOOn The Fly: Analyst Upgrade Summary
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08:16 EDTQCOMQualcomm downgraded to Neutral from Strong Buy at ISI Group
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06:14 EDTAVGOAvago resumed with a Buy from Neutral at Citigroup
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July 11, 2014
12:46 EDTQCOMQualcomm downgraded to Buy from Strong Buy at Tigress Financial
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10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
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09:09 EDTQCOMOn The Fly: Pre-market Movers
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07:36 EDTQCOMQualcomm downgraded to Buy from Conviction Buy at Goldman
Goldman removed Qualcomm from the Conviction Buy List as it does not expect material near-term upside to Street estimates sees some risk of downside. The firm trimmed estimates for both the June and September quarters due to weaker handset demand but maintains its Buy rating and $95 price target based on relative valuation and growth profile.
07:35 EDTQCOMQualcomm questioned again in Chinese anti-trust probe, Xinhua says
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July 10, 2014
16:15 EDTORCLKEYW, Oracle collaborate on advanced security solutions
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07:20 EDTORCLIridium completes implementation of Oracle's management and billing solution
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July 9, 2014
06:16 EDTQCOMQuclomm places FinFET chip orders with Samsung, DigiTimes reports
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