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June 6, 2014
11:26 EDTMCRS, NXPI, DBD, PAY, USAT, NCRVeriFone hits 52-week high after better than expected results
Shares of VeriFone Systems (PAY), which is involved in secure electronic payment solutions, are rising after the company’s second quarter results and its revenue outlook surpassed expectations. WHAT'S NEW: Last night, VeriFone reported Q2 adjusted earnings per share of 37c and adjusted revenue of $467M, beating the consensus views of 33c and $443.42M, respectively. VeriFone forecast Q3 adjusted EPS of 33c-34c versus consensus of 37c. Q3 adjusted revenue was seen at $455M-$460M, which was above the consensus of $453.83M at the midpoint. For FY14, adjusted EPS was forecast at $1.42-$1.44, compared to consensus $1.43, while adjusted revenue was seen at $1.825B-$1.835B, topping the consensus of $1.8B. WHAT’S NOTABLE: The company also announced that the competition commission of India is investigating certain complaints made against it, alleging unfair practices based on certain provisions in its software development license arrangements in India. VeriFone noted it has cooperated with requests by the CCI in its investigation. OTHERS TO WATCH: After VeriFone stated that 15 of its existing POS customers moved to EMV credit card technology, Sterne Agee wrote in a note to investors that it thinks the EMV trend is gathering steam and provides a tailwind to NXP Semiconductors (NXPI). The firm notes that banks are continuing to roll out EMV-enabled cards and kept a $74 price target and Buy rating on NXP's shares. Other companies in the POS system and electronic payment space include NCR Corporation (NCR), Diebold (DBD), USA Technologies (USAT), and MICROS Systems (MCRS). PRICE ACTION: In late morning trading, VeriFone rose about 7%, to $36.23 on heavy trading volume. Earlier in the session, the stock hit a new 52-week high of $36.74. Including today’s advance, the stock has more than doubled in price over the past twelve months.
News For PAY;NXPI;NCR;DBD;MCRS;USAT From The Last 14 Days
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October 8, 2015
07:38 EDTUSATUSA Technologies signs five-year exclusive agreement with Wilmore Snack Sales
USA Technologies announced that it has inked a new five-year, strategic agreement for its ePort Connect suite of cashless payment solutions and services with Wilmore Snack Sales, a Canteen franchise located near Shreveport, La. The agreement provides for the purchase of 2,000 new ePort devices, which are expected to be deployed during the company's current fiscal year, and includes hardware, deployment support, co-marketing and installation assistance.
06:21 EDTPAYVerifone upgraded to Strong Buy from Outperform at Raymond James
Raymond James upgraded Verifone to Strong Buy from Outperform with a $44 price target. Analyst Wayne Johnson said Verifone's valuation does not reflect the company's solid growth prospects including the multi-year impact from the recently announced $200M share buyback, rapid organic growth, upward operating margin trends, and an improved outlook for market share gains.
October 7, 2015
05:38 EDTNXPINXP Semiconductors and Siemens announce systems partnership
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October 6, 2015
07:55 EDTPAYVerifone named top pick at SunTrust
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October 5, 2015
15:28 EDTNXPICiti lowers iPhone unit sales estimates for Q4
Shares of Apple (AAPL) are underperforming a strong broader market rally after Citi lowered its fourth quarter iPhone unit sales estimates in a note to investors earlier. WHAT'S NEW: Not all of Apple's first weekend sales of iPhone 6S and 6S will be included in the company's Q4 earnings, Citi analyst Jim Suva wrote. Suva, who has a Buy rating and $145 target price on Apple shares, said that although first weekend sales of 13M units of iPhone 6S and 6S Plus exceeded sell side targets, Apple noted that not all of these units unit sales will be included in Apple's Q4 earnings given cut off of the reporting quarter. Only sales through Friday and Saturday of the weekend launch will be included in Q4. The remainder of the units sold on Sunday will be reported in December financial results, said Suva. As a result, Citi reduced its iPhone unit estimates to 47M from its prior view of 48M. This is below the Q4 consensus of 48M. The remaining units will be shifted to the December quarter. Citi expects many sell-side analysts to follow suit and lower their September quarter iPhone estimates in the weeks ahead before Apple reports on October 27. According to the Citi note, Apple share volatility will continue and the firm sees limited earnings and sales upside potential in the near-term causing some investors to exit the stock. The investment thesis for Apple is likely to shift from an iPhone "beat and raise" investment story to a gross margin upside story heading into a difficult comp year for iPhone 6S unit sales, Suva tells investors. He thinks any pullback will prove an attractive opportunity for long-term investors. WHAT'S NOTABLE: Late last week, an article from the DigiTimes said Apple may be adjusting its chip orders lower for Q4. Sources said that a substantial integrated circuit supplier is saying that Apple has "slightly lowered its demand for supplies for the new iPhones for December," the report said. The sources said that overall shipments of the iPhone 6s series are expected to reach 75M-80M units in Q3 and 65M-70M units in Q4.PRICE ACTION: In late afternoon trading, shares of Apple are underperforming broader market measures and are up 0.4% compared to a 1.75% gain for the S&P 500. OTHERS TO WATCH: Shares of Apple chip suppliers are also relatively weak, with Cirrus Logic (CRUS) down almost 4%, Skyworks Solutions (SWKS) sliding 2.5%, Qorvo (QRVO) trading near flat, Avago (AVGO) lower by 1.4%, and NXP Semiconductors (NXPI) down 0.25%.
07:19 EDTPAYOpen Mobile Media to hold a summit
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October 1, 2015
12:44 EDTNXPIApple chip suppliers fall after report iPhone maker may lower chip orders
Shares of chip makers for Apple's (AAPL) iPhone are sliding after a DigiTimes article said the iPhone maker may curtail its chip orders for the fourth quarter. WHAT'S NEW: According to the DigiTimes report, Apple may be adjusting its chip orders lower for Q4. Sources said that a substantial integrated circuit supplier is saying that Apple has "slightly lowered lowered its demand for supplies for the new iPhones for December," the report said. The sources said that overall shipments of the iPhone 6s series are expected to reach 75M-80M units in the third quarter and 65M-70M units in Q4. WHAT'S NOTABLE: On September 28, Apple announced it has sold more than 13M new iPhone 6s and iPhone 6s Plus models just three days after launch, a new record for the company. According to an iFixit report from September 25, a teardown of the new iPhone 6S Plus revealed components supplied by Qualcomm (QCOM), Skyworks (SWKS), Qorvo (QRVO), Avago (AVGO), NXP Semiconductors (NXPI), Cirrus Logic (CRUS) and Texas Instruments (TXN), among others. Other chip makers that have been mentioned as possible Apple suppliers in the past include Analog Devices (ADI), Maxim Integrated Products. (MXIM) and ON Semiconductor (ON). PRICE ACTION: In midday trading shares of the aforementioned chip makers are all lower with Qorvo, Avago, NXP and Analog Devices down approximately 4% to 5%. Apple is down about 1.4%.
07:20 EDTUSATUSA Technologies shares attractive after pullback, says Rodman & Renshaw
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07:04 EDTUSATUSA Technologies reaffirms FY16 revenue view $69M-$71M, consensus $69.7M
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07:02 EDTUSATUSA Technologies takes $270,000 after-tax charge after upping bad debt reserve
In a regulatory filing, USA Technologies disclosed that the company filed its Form 10-K for the fiscal year ended June 30, 2015. Subsequent to the issuance of the September 10 earnings press release, the company increased its bad debt reserve in the amount of $450,000 resulting in an after-tax charge of $270,000 relating to a large number of small balance customer accounts receivable that may be uncollectible and were not appropriately dispositioned, collected, remediated, reserved for and/or written-off. The change did not affect the revenues or connection data for the fiscal year, the company added.
September 30, 2015
16:02 EDTUSATUSA Technologies anticipates filing Form 10-K on October 1
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10:00 EDTPAYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Analog Devices (ADI) upgraded to Buy from Neutral at Citi... Asbury Automotive (ABG) upgraded to Neutral from Underperform at BofA/Merrill... Brookfield (BAM) upgraded to Outperform from Market Perform at BMO Capital... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Canadian Pacific (CP) upgraded to Buy from Neutral at Goldman... Citizens Financial (CFG) upgraded to Buy from Neutral at UBS... Esperion (ESPR) upgraded to Neutral from Sell at Chardan... HSBC (HSBC) upgraded to Buy from Neutral at UBS... Hecla Mining (HL) upgraded to Outperformer from Sector Performer at CIBC... Johnson Controls (JCI) upgraded to Outperform from Market Perform at William Blair... Level 3 (LVLT) upgraded to Buy from Neutral at UBS... Madison Square Garden (MSG) upgraded on asset value, share buyback outlook at Stifel... Medivation (MDVN) upgraded to Market Perform from Underperform at Cowen... PHH Corp. (PHH) upgraded to Buy from Neutral at Compass Point... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Ralph Lauren (RL) upgraded to Buy from Neutral at UBS... Regions Financial (RF) upgraded to Buy from Hold at Sandler O'Neill... Shire (SHPG) upgraded to Hold from Reduce at HSBC... Sinopec (SNP) upgraded to Buy from Hold at Jefferies... Verifone (PAY) upgraded to Buy from Hold at Argus.
07:36 EDTPAYVerifone upgraded to Buy from Hold at Argus
Argus upgraded Verifone to Buy with a $39 price target on shares. The firm upgraded shares based on the pullback in the stock, which has been driven by nonfundamental factors.
September 29, 2015
17:11 EDTUSATUSA Technologies to delay filing Form 10-K
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11:23 EDTPAYVerifone management to meet with SunTrust
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September 28, 2015
15:58 EDTNCRNCR Corp. strategic review still ongoing, says JPMorgan
JPMorgan Stanley said the the strategic review at NCR is still ongoing and continues to evaluate ways to create shareholder value, including asset sales, improved allocation of capital, and an outright sale of the complete company.
06:35 EDTPAYVerifone announces $200M share repurchase authorization
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September 25, 2015
14:50 EDTNXPINXP Semiconductors volatility elevated on wide price movement
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11:25 EDTNXPICirrus leads iPhone suppliers higher as analysts dissect 6S
Cirrus Logic (CRUS), Skyworks (SWKS) and Qorvo (QRVO) are among the chipmakers that appear poised to obtain more revenue from Apple's (AAPL) iPhone 6S devices than from the previous generation of the market-leading smartphone. Research firms issued notes today based on their analysis of "teardowns" of the new phones after they went on sale for the first time, beginning in Australia. TEARDOWNS: Apple's common practice when rolling out its newest iPhone models is for Australia to be its first launch market. The unboxing of iPhones when they become available for sale for the first time anywhere in the world is a much anticipated event among the tech giant's fans, as well as by Apple-focused blogs and Wall Street analysts who follow the company. Websites like iFixit have become well known for their "teardowns" of the devices, where they purchase, take apart and analyze the way in which the device is made and how it differs from previous models. These teardowns are closely watched by analysts and can sometimes be catalysts for the stocks of iPhone component suppliers. CIRRUS: Barclays analyst Blayne Curtis says teardowns of Apple's iPhone 6S indicate Cirrus Logic secured both a smart codec and boosted amp win in the new phone. The company's content in each phone is likely towards the upper end of his $3.50-$4.00 estimate, Curtis tells investors, noting that he views this as better than expected. Curtis thinks the 6S content, coupled with the "several new growth drivers" Cirrus outlined at yesterday's technology day, could reverse the negative sentiment on the stock. He keeps an Overweight rating on the name with a $39 price target. OTHER WINNERS AND LOSERS: Skyworks and Qorvo saw their content rise 22% and 25% respectively, Curtis estimated. NXP Semiconductors (NXPI) is continuing to supply the NFC and Secure Element chips for the 6S devices, but is no longer providing the sensor hub, the analyst reported. The company will lose about 50c per iPhone as a result of this development, but it did know that it would no longer be providing the hub before it provided its guidance in July, according to Curtis. STMicroelectronics (STM) is no longer providing the secure MCU for the iPhone 6S, Curtis added. WHAT'S NOTABLE: Other companies that are supplying iPhone 6S components include Qualcomm (QCOM), Texas Instruments (TXN), and Avago (AVGO), iFixit reported. After conducting checks, Craig-Hallum analyst Anthony Stoss estimated that Skyworks will obtain about $6.50 of revenue per iPhone, up from about $5.50 previously, while Qorvo's revenue per device will rise to $6.25 from $5.75 and Avago will see its revenue per device increase to about $6.75 from about $6.50, Stoss believes. The firm kept Buy ratings on Skyworks, Avago, and Qorvo. PRICE ACTION: In morning trading, Cirrus shares jumped $4.36, or 16%, to $31.49, Skyworks added about 3% and Qorvo rose 4%. Meanwhile, NXP gained about 2% and STMicroelectronics advanced 2.5%.
09:48 EDTNXPIApple iPhone 6S Plus teardown reveals chip suppliers, iFixit reports
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