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Stock Market & Financial Investment News

News Breaks
August 30, 2013
12:23 EDTOVTI, STM OmniVision Technologies plummets after quarterly revenue, guidance disappoints
Shares of image sensor devices company OmniVision Technologies (OVTI) are falling after the company reported first quarter revenue that fell shy of consensus estimates, and issued disappointing second quarter guidance. WHAT'S NEW: Last night, OmniVision reported first quarter adjusted earnings per share of 55c and revenue of $373.7M. Analysts' consensus expectations were for EPS of 43c and revenue of $376.58M. WHAT'S NOTABLE: The company predicted that it would report adjusted EPS of 36c-53c and revenue of $375M-$410M for the second quarter. Analystsí consensus estimates were 49c and $406.6M, respectively. ANALYST REACTION: This morning, a number of analysts reacted negatively to OmniVision's results and guidance. Research firms Oppenheimer, Craig-Hallum, and Northland Securities all downgraded the stock. They cited margin pressure and increasing competition as reasons for the downgrade. Meanwhile, Craig-Hallum lowered its price target on the shares to $18 from $24. PRICE ACTION: In early afternoon trading, OmniVision fell $2.88, or 15.6%, to $15.53 on more than six times the average daily trading volume. OTHERS TO WATCH: Shares of OmniVision's competitor, STMicroelectronics N.V. (STM), were down about 3% in early afternoon trading.
News For OVTI;STM From The Last 14 Days
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October 30, 2014
10:02 EDTSTMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ally Financial (ALLY) upgraded to Buy from Hold at Deutsche Bank... Banco Bradesco (BBD) upgraded to Overweight from Neutral at JPMorgan... Cree (CREE) upgraded to Neutral from Underperform at BofA/Merrill... Finish Line (FINL) upgraded to Overweight from Neutral at Piper Jaffray... Grand Canyon (LOPE) upgraded to Overweight from Neutral at Piper Jaffray... Hess Corp. (HES) upgraded to Outperform from Sector Perform at Howard Weil... Ignite Restaurant (IRG) upgraded to Market Perform from Underperform at Raymond James... Lowe's (LOW) upgraded to Buy from Neutral at Goldman... MakeMyTrip (MMYT) upgraded to Buy from Hold at Deutsche Bank... MicroStrategy (MSTR) upgraded to Overweight from Equal Weight at First Analysis... Moelis (MC) upgraded to Positive from Neutral at Susquehanna... PG&E (PCG) upgraded to Neutral from Sell at Goldman... RF Micro Devices (RFMD) upgraded to Buy at Canaccord... Ruckus Wireless (RKUS) upgraded to Equal Weight from Underweight at Morgan Stanley... STMicroelectronics (STM) upgraded to Neutral from Sell at UBS... Sealed Air (SEE) upgraded to Market Perform from Underperform at Wells Fargo... Software AG (STWRY) upgraded to Neutral from Underweight at JPMorgan... Southwest (LUV) upgraded to Neutral from Underweight at JPMorgan... Sprint (S) upgraded to Neutral from Underperform at Credit Suisse... SunPower (SPWR) upgraded to Buy from Hold at Canaccord... Take-Two (TTWO) upgraded to Buy from Hold at Brean Capital... TriQuint (TQNT) upgraded to Buy at Canaccord... Visa (V) upgraded to Outperform from Market Perform at FBR Capital... Whiting Petroleum (WLL) upgraded to Overweight from Equal Weight at Stephens.
05:46 EDTSTMSTMicroelectronics upgraded to Neutral from Sell at UBS
UBS upgraded STMicroelectronics to Neutral following the company's Q3 results.
October 29, 2014
13:05 EDTSTMSTMicroelectronics management to meet with Jefferies
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09:19 EDTSTMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Goodyear Tire (GT), up 10%... Electronic Arts (EA), up 3.7%... ZELTIQ (ZLTQ), up 9%... Eaton (ETN), up 2.3%... Anadarko (APC), up 2%... U.S. Steel (X), up 7.7%... IAC (IACI), up 3.6%. ALSO HIGHER: Fiat Chrysler (FCAU), up 12% after reporting quarterly results, announcing plan to spin off Ferrari... Cara Therapeutics (CARA), up 17.8% after HAL trial of IV formulation of CR845 met primary endpoint... Jamba (JMBA), up 4% after upgraded at Wedbush. DOWN AFTER EARNINGS: Facebook (FB), down 5.7%... Gilead (GILD), down 3.2%... Ralph Lauren (RL), down 2.3%... SodaStream (SODA), down 3%... Garmin (GRMN), down 5%... Applied Micro Circuits (AMCC), down 9.9%... STMicroelectronics (STM), down 10%... Ballard Power (BLDP), down 8.7%... Hershey (HSY), down 3.3%... Deutsche Bank (DB), down 2.3%... McKesson (MCK), down 2%. ALSO LOWER: Sanofi (SNY), down 5.7% after downgraded at various firms including Barclays and BofA/Merrill after the company's board removed Christopher Viehbacher as CEO... InvenSense (INVN), down 22%, downgraded at Pacific Crest, Northland and Piper Jaffray following the company's Q2 earnings results... CareTrust REIT (CTRE), down 3.6% after acquiring Cross Healthcare Seniors housing portfolio... Orbital (ORB), down 16% after Orb-3 launch mishap... American Realty (ARCP), down 22% after announcing resignations of CFO, CAO.
05:33 EDTSTMSTMicroelectronics sees Q4 net revenues down sequentially by about 3.5%
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05:31 EDTSTMSTMicroelectronics reports Q3 adjusted EPS 13c, consensus 5c
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October 28, 2014
10:12 EDTSTMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Buffalo Wild Wings (BWLD) upgraded to Outperform at RW Baird... CPFL Energia (CPL) upgraded to Buy from Neutral at UBS... Core Laboratories (CLB) upgraded to Overweight from Equal Weight at Morgan Stanley... Dril-Quip (DRQ) upgraded at Morgan Stanley... DryShips (DRYS) upgraded to Outperform from Underperform at Imperial Capital... FireEye (FEYE) upgraded to Positive from Mixed at OTR Global... GOL Linhas (GOL) upgraded to Outperform from Market Perform at Raymond James... Madison Square Garden (MSG) upgraded to Buy from Hold at ISI Group... Nobel Biocare (NBHGY) upgraded to Neutral from Underweight at JPMorgan... STMicroelectronics (STM) upgraded to Neutral from Sell at Citigroup... Trinity Industries (TRN) upgraded to Positive from Neutral at Susquehanna... Twitter (TWTR) upgraded to Hold from Sell at Pivotal Research... Wal-Mart de Mexico (WMMVY) upgraded to Overweight from Equal Weight at Barclays... Wright Medical (WMGI) upgraded at RBC Capital... XL Group (XL) upgraded to Hold from Sell at Deutsche Bank.
06:29 EDTSTMSTMicroelectronics upgraded to Neutral from Sell at Citigroup

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