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Stock Market & Financial Investment News

News Breaks
June 6, 2014
11:26 EDTPAY, NXPI, NCR, DBD, MCRS, USATVeriFone 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 20, 2014
18:51 EDTNXPIOn The Fly: After Hours Movers
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18:22 EDTNXPISkyworks Solutions, Cirrus Logic, others higher after Apple reports Q4 results
The following stocks are moving higher in the after hours following Apple's Q4 results: ARM Holdings (ARMH) is up 1.1%, Skyworks Solutions (SWKS) is higher by 2.2% ,NXP Semiconductors (NXPI), up 2.28%,Cirrus Logic (CRUS) is up 2%, RF Micro Devices (RFMD) gains 1.53% and Avago Technologies (AVGO) is up 1.17%.
16:20 EDTNCROn The Fly: Closing Wrap
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12:37 EDTNCROn The Fly: Midday Wrap
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12:28 EDTPAY, DBD, NCRNCR Corp. plummets after guidance lowered
Shares of payment solutions company NCR Corp. (NCR) are sinking after the firm’s third quarter forecasts missed analysts’ consensus estimates and it lowered its outlook for fiscal 2014. WHAT'S NEW: This morning, NCR Corp. forecast Q3 EPS of 67c and revenue of $1.647B, below analysts' consensus estimates of 71c and $1.66B, respectively. Q3 free cash flow is seen at $132M, which includes the previously announced recovery of $93M related to the Fox River environmental matter. The company cited a challenging retail market as well as difficult global macroeconomic conditions, including foreign currency headwinds, for the weak outlook. WHAT'S NOTABLE: NCR Corp. lowered its FY14 EPS view to $2.60-$2.70 from $3.00-$3.10, compared to consensus of $3.00. It also cut its FY14 revenue outlook to $6.575B- $6.625B from $6.75B-$6.85B, versus consensus of $6.74B. The company said, “While we are disappointed by these results, our Financial Services business remains a bright spot, Q3 free cash flow improvement was strong, and our previously announced restructuring program is on track to deliver annual run-rate savings of approximately $90M by 2016. While we continue to be faced with challenging and uncertain market dynamics, we remain confident in the actions we are taking to address these challenges, including strengthening our Retail Solutions team and talent, as well as utilizing our restructuring program to allocate more resources to our highest growth, highest margin opportunities to drive long-term profitable growth.” PRICE ACTION: In afternoon trading, NCR Corp. fell $6.43, or about 21.5%, to $23.45 on nearly five times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $23.32. Including today's pull back, the shares have lost approximately 41% over the past 12 months. OTHERS TO WATCH: Other companies in the payment solutions business include VeriFone Systems (PAY) and Diebold (DBD).
10:38 EDTNCRHigh option volume stocks
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09:22 EDTNCROn The Fly: Pre-market Movers
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07:12 EDTNCRNCR Corp. sees FY14 NPOI $810M-$830M
In regards to FY14, says software-related revenue is expected to be $1.7B-$1.725B compared to previous guidance of $1.775B-$1.825B. Free cash flow, which includes the $93M Fox River environmental recovery, is expected to be approximately $225M-$275M versus our previous guidance of $250M-$300M.
07:10 EDTNCRNCR says restructuring program on track for $90M run-rate savings by 2016
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07:03 EDTNCRNCR Corp. now sees FY14 EPS $2.60-$2.70, consensus $3.00
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07:02 EDTNCRNCR Corp. expects Q3 free cash flow $132M
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07:01 EDTNCRNCR Corp. expects Q3 EPS 67c, consensus 71c
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October 17, 2014
11:25 EDTPAYVeriFone wins appeal of patent ruling in favor of CardSoft
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08:00 EDTPAYVeriFone fundamentals unchanged despite sell-off, says Jefferies
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October 15, 2014
11:02 EDTNCRIntel introduces transaction data protection technology in partnership with NCR
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07:50 EDTNXPINXP Semiconductors weakness a buying opportunity, says Canaccord
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October 14, 2014
10:10 EDTNXPIChip makers rise following Skyworks positive preannouncement
Shares of a number of semiconductor makers are climbing after one of the companies in the sector, Skyworks (SWKS), preannounced stronger than expected results. WHAT'S NEW: Skyworks, which develops chips for cell phones, raised its fourth quarter earnings per share outlook to $1.08 from $1.00. Analysts' consensus estimate was $1.01. The chip maker increased its Q4 revenue guidance to $718M from $680M. Analysts' consensus estimate was $679.5M. "Skyworks’ upwardly revised outlook demonstrates the broad-based strength of our business and our ability to capitalize on positive underlying market trends to connect everyone and everything, all the time,” said Skyworks CEO David Aldrich. "These multi-year technology trends are setting the stage for us to outperform the broader semiconductor industry in the December quarter and for the foreseeable future," the CEO added. WHAT'S NOTABLE: Skyworks' positive report comes less than a week after another semiconductor maker, Microchip (MCHP), preannounced lower than expected revenue and said it thought the sector had entered a correction. Semiconductor stocks have sold off sharply since Microchip's preannouncement and pessimistic comments. PRICE ACTION: In early trading, Skyworks surged 6.4% to $48.24, Intel (INTC) rose 1.5% to $31.94, NXP Semiconductors (NXPI) rose 1.2% to $54.55, STMicroelectronics (STM) advanced 2% to $6.82, and Avago Technologies (AVG) gained fractionally to $69.30.
09:13 EDTNXPIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Johnson & Johnson (JNJ), up 1%... Dominos Pizza (DPZ), up 2.7%. ALSO HIGHER: Citigroup (C), up 2.5% following earnings report, announcement of plans to exit consumer businesses in 11 markets... MagneGas (MNGA), up 14% after signing Letter of Intent with Pioneer Recycling... Skyworks (SWKS), up 6% after raising its outlook for Q4. Shares of peers Avago (AVGO), NXP Semiconductors (NXPI) and RF Micro Devices (RFMD) are also moving higher in pre-market trading after Skyworks pointed to "broad-based strength" of its business in raising its outlook... Halcon Resources (HK), up 6% after upgraded at KLR Group... Quantum (QTM), up 8.8% after issuing Q2 earnings guidance. LOWER: Wells Fargo (WFC), down 1.4% after reporting in-line Q3 earnings... JPMorgan (JPM), down 1.8% after Q3 headline earnings miss... Las Vegas Sands (LVS), down 1% following downgrade at BofA Merrill Lynch.
08:55 EDTNXPIBarclays top ideas in U.S. Semiconductors on the pullback
Barclays' top U.S. Semiconductor ideas to buy on the pullback are Avago (AVGO), Cavium (CAVM), Spansion (CODE), NXP Semiconductors (NXPI) and Xilinx (XLNX).
08:50 EDTNXPIAvago, NXP rally after Skyworks ups outlook on 'broad-based strength'
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