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Stock Market & Financial Investment News

News For SCSC;FLEX;TECD;MU;EMC;AMD;PLXS;CTXS;SNX;DELL;IM From The Last 14 Days
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May 28, 2015
16:03 EDTMUOptions Update; May 28, 2015
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07:19 EDTMUCowen to hold a conference
43rd Annual Technology, Media & Telecom Conference is being held in New York on May 27-28 with webcasted company presentations to begin on May 28 at 8 am; not all company presentations may be webcasted. Webcast Link
06:09 EDTTECDTech Data sees Q2 America sales decline in low to mid-single-digits
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06:08 EDTTECDTech Data reports Q1 non-GAAP EPS 80c, consensus 71c
Reports Q1 revenue $5.89B, consensus $5.63B. Reports Q1 Americas net sales $2.3B. Reports Q1 Europe net sales $3.5B.
May 27, 2015
16:03 EDTMUOptions Update; May 27, 2015
iPath S&P 500 VIX Short-Term Futures down 82c to 18.56 Option volume leaders: AAPL KORS BRCM MCD FB MNKD AAL YHOO BAC MU ANF S EOX
16:02 EDTTECDTech Data to acquire Signature Technology Group
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15:30 EDTTECDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Toronto-Dominion Bank (TD), consensus $1.11... Signet Jewelers (SIG), consensus $1.63... Flowers Foods (FLO), consensus 30c... Tech Data (TECD), consensus 71c... Sanderson Farms (SAFM), consensus $3.32... Express (EXPR), consensus 14c... Abercrombie & Fitch (ANF), consensus (34c)... Descartes Systems Group (DSGX), consensus 6c... JinkoSolar (JKS), consensus 40c... Fred's (FRED), consensus (1c)... Xcerra (XCRA), consensus 7c... Titan Machinery (TITN), consensus (22c).
13:56 EDTTECDTech Data technical comments ahead of results
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07:52 EDTEMCEMC deal has mixed implications, says Oppenheimer
After EMC agreed to buy privately held Virtustream, Oppenheimer says it's positive on Virtustream's high-end cloud workload focus and how it solidifies EMC's hybrid view. However, the firm says that Virtustream is too focused on SAP applications, and it is concerned that the deal could make some of EMC's partners increasingly view it as a competitor. The firm keeps an Outperform rating on EMC.
07:07 EDTMUJefferies recommends buying shares of Micron
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May 26, 2015
20:46 EDTCTXSCowen to hold a conference
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10:38 EDTEMCEMC to expand in cloud with purchase of Virtustream for $1.2B
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08:16 EDTEMCEMC volatility low into acquiring Virtustream in deal valued at $1.2B in cash
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08:15 EDTEMCEMC to host conference call
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08:04 EDTEMCEMC to acquire Virtustream in deal valued at $1.2B in cash
EMC Corporation announced it has entered into a definitive agreement to acquire privately-held Virtustream. When the transaction closes, Virtustream will form EMC's new managed cloud services business. Virtustream's cloud software and Infrastructure-as-a-Service portfolio will be delivered directly to customers and through partners. EMC Federation service provider partners will receive access to Virtustream's xStream cloud management software platform and be enabled to adopt and deliver their own branded services based upon it. The all-cash transaction is expected to close in the third quarter of 2015, subject to customary closing conditions, is valued at approximately $1.2B, and has been approved by the boards of directors of both EMC and Virtustream and the requisite Virtustream stockholders. The transaction is expected to have no material impact to EMC financial results in 2015 and is expected to be additive to revenues and accretive to EPS in 2016.
08:02 EDTEMCEMC to acquire Virtustream in deal valued at $1.2B in cash
May 22, 2015
10:38 EDTMUMizuho says buy NXP, Micron, ON Semi
Mizuho Securities initiated coverage of a number of chip makers in a note to investors last night. Among its recommendation in the space, NXP Semiconductors (NXPI), Micron (MU), and ON Semiconductor (ON) were called out with Buy ratings. NXP: NXP Semiconductors dominates the mobile payment market with its NFC products, Mizuho analyst Vijay Rakesh wrote. The company's NFC chips are used in Apple's (AAPL) Apple Pay and NXP has a strong mobile payment ecosystem in China, the analyst explained. NXP Semiconductors is also a leader in providing chips used to enhance credit card security, as its Chip+Pin system has a 75% share of the global market and is in the process of being deployed in the U.S, according to Rakesh. Going forward, NXP's growth should be driven by the automotive products of Freescale, which the company acquired earlier this year, the analyst stated, adding that NXP should derive strong synergies and cash flow from the deal. He set a $140 price target on the stock. MICRON: Sales of flash memory device maker Micron's DRAM products should be boosted by a PC rebound in the second half of this year, according to Rakesh. Additionally, the company's new CFO could make its actions more predictable, pleasing investors, the analyst stated. ON: ON Semiconductor should benefit from its acquisition of Aptina, which gave ON a significant presence in the Advanced Driver Assistance Systems, or ADAS, market, Rakesh believes. ADAS is likely to grow rapidly around the world, driven by mandates, the analyst predicted. A second positive catalyst for ON will be the proliferation of wireless charging, added the analyst, who set a $16 price target on the shares. PRICE ACTION: In early trading, NXP rose nearly 1% to trade nearly $108, Micron gained 2.6% to $27.61, and ON was fractionally higher. Other semiconductor makers initiated with Buy ratings by the firm include Skyworks (SWKS), Synaptics (SYNA), Avago (AVGO) and Cypress Semiconductor (CY).
09:58 EDTMUOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allison Transmission (ALSN) initiated with a Buy at Stifel... Avago (AVGO) initiated with a Buy at Mizuho... Blackstone (BX) initiated with a Positive at Susquehanna... Cellectis (CLLS) initiated with an Outperform at Oppenheimer... Cypress Semiconductor (CY) initiated with a Buy at Mizuho... Esperion (ESPR) initiated with a Sell at Chardan... H&R Block (HRB) initiated with an Overweight at Piper Jaffray... Horizon Pharma (HZNP) initiated with an Outperform at Leerink... M/A-COM (MTSI) initiated with a Buy at Goldman... Meritor (MTOR) initiated with a Hold at Stifel... Micron (MU) initiated with a Buy at Mizuho... Monster Worldwide (MWW) initiated with a Neutral at Piper Jaffray... NXP Semiconductors (NXPI) initiated with a Buy at Mizuho... National Storage (NSA) initiated with a Sector Weight at KeyBanc... ON Semiconductor (ON) initiated with a Buy at Mizuho... Qorvo (QRVO) initiated with a Buy at Goldman... SanDisk (SNDK) initiated with a Neutral at Mizuho... Sharps Compliance (SMED) initiated with a Buy at Stifel... Skyworks (SWKS) initiated with a Buy at Mizuho... StemCells (STEM) initiated with a Buy at Cantor... Synaptics (SYNA) initiated with a Buy at Mizuho... Synergy Pharmaceuticals (SGYP) initiated with a Buy at Canaccord... Texas Instruments (TXN) initiated with a Neutral at Mizuho... TriNet (TNET) initiated with a Neutral at Piper Jaffray... Vascular Biogenics (VBLT) initiated with a Buy at Roth Capital... Verifone (PAY) initiated with an Outperform at Imperial Capital... uniQure (QURE) initiated with an Outperform at Oppenheimer.
09:34 EDTMUActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
May 21, 2015
16:08 EDTMUMicron initiated with a Buy at Mizuho
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11:39 EDTEMCNetApp hits 52-week low after results, outlook miss expectations
Shares of storage company NetApp (NTAP) are falling after the company’s fourth quarter results and first quarter outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Yesterday, NetApp reported Q4 adjusted earnings per share of 65c and revenue of $1.54B, trailing analysts’ consensus estimates of 72c and $1.59B, respectively. The company raised its quarterly dividend 9% to 18c per share. It also announced a “realignment” that will be implemented through the end of 3Q16. As part of the realignment, NetApp expects to reduce worldwide headcount by approximately 500 employees. The company expects to incur aggregate charges of approximately $25M-$35M for employee terminations and other costs associated with the realignment. WHAT’S NOTABLE: Looking ahead to Q1, NetApp forecast adjusted EPS of 20c-25c and revenue of $1.275B-$1.375B, well below the consensus of 60c and $1.46B, respectively. On the company’s conference call, management said it sees a return to a growth trajectory in second half of FY16. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately, management stated, adding that the company is well positioned for the era of cloud computing. They expect to reduce the company’s share count by another 5%, and see operating margins back in range in the second half of the year. ANALYST REACTION: This morning, JP Morgan, Cantor, Summit Research and Needham all downgraded NetApp following its Q4 report. JPMorgan went to Underweight on NetApp, citing the "tough" Cluster ONTAP product transition after the company's Q1 revenue guidance missed expectations. The firm cut its price target for shares to $29 from $35. Cantor Fitzgerald's Brian White downgraded NetApp to Hold from Buy, citing execution issues with the product transition and secular challenges for the storage market, and cut his price target for shares to $35 from $43. Last night marked the seventh time in eight quarters that NetApp missed estimates, Summit Research noted. PRICE ACTION: In late morning trading, NetApp fell $4.17, or about 12%, to $31.16 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $30.90. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the in the storage space include EMC Corporation (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
May 20, 2015
16:00 EDTMUOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
07:36 EDTMUMicron estimates, target lowered on PC weakness at Deutsche Bank
Deutsche Bank lowered estimates for Micron after its channel checks indicated DRAM price negotiations "remain challenging" in May given amid soft PC demand. The firm, however, believes PC demand will strengthen starting in July driven by seasonality and the launch of Windows 10. It thinks this will be the last cut to estimates and maintains a Buy rating on Micron. It lowered its price target for shares to $32 from $34.
May 19, 2015
12:55 EDTAMDPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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08:34 EDTAMDApple introduces 15-inch MacBook Pro with Force Touch trackpad
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08:33 EDTAMDMorgan Stanley cautious in near-term on PC names
Morgan Stanley is more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team continues to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. Morgan Stanley is cautiously optimistic on Western Digital (WDC) due to its diverse revenue drivers, sees value creation catalysts for Hewlett-Packard (HPQ) and believes Microsoft (MSFT) shares reflect the challenging PC market and Win 10. The firm is more cautious on semis such as NVIDIA (NVDA) given higher valuations, share loss at Advanced Micro (AMD), potential 2H margin pressure at Intel (INTC), and Morgan is cautious on PC DRAM stocks near-term due to weaker pricing.
08:10 EDTTECDTech Data announces agreement with Barracuda Networks
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08:07 EDTCTXSCitrix teams with Mirantis for OpenStack distribution
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07:36 EDTCTXSCitrix growth poised to accelerate, says Bernstein
After attending Citrix's Analyst Meeting, Bernstein says the company's new products are likely to help cause its growth to accelerate. The firm expects the company's EPS growth to accelerate, and it keeps a $79 price target and Outperform rating on the shares.
May 18, 2015
16:00 EDTMUOptions Update; May 18, 2015
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10:57 EDTMUMicron May weekly calls active
Micron May weekly 26.5 and 27 weekly calls are active on total call volume of 35K contracts (3K puts). May weekly call option implied volatility is at 36, June is at 32, July is at 34; compared to its 90-day average of 35, active call volume suggests traders taking positions for large near term price movement.
10:32 EDTMUMicron management to meet with JMP Securities
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10:01 EDTCTXSOn The Fly: Analyst Downgrade Summary
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07:27 EDTEMCJPMorgan to hold a conference
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05:48 EDTCTXSCitrix downgraded to Neutral from Buy at Goldman
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May 15, 2015
17:33 EDTEMCPoint72 Asset Management gives quarterly update on stakes
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16:51 EDTEMC, IMGreenlight Capital gives quarterly update on stakes
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16:28 EDTMUAppaloosa Management gives quarterly update on stakes
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16:01 EDTMUOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
12:13 EDTEMCThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
10:40 EDTMUStocks with call strike movement; MU AMAT
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08:44 EDTMUMicron estimates lowered on weaker pricing at Nomura
Nomura lowered Micron estimates due to on-going softness in pricing due to the persistent weak PC backdrop. The firm lowered its August quarter earnings estimate to 61c from 75c, 2015 earnings estimate to $2.83 from $3.33, and 2016 to $3.33 from $3.75. Shares are Neutral rated with a $25 price target, down from $28.
08:16 EDTMUSamsung not engaged in DRAM price war with Micron, says Jefferies
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08:13 EDTAMDJefferies ups view on Semis to Positive from Negative
Jefferies upped its view on the Semiconductors space to Positive from Negative after hosting a dozen companies at its annual conference in Miami. The firm notes that most companies noted an "OK" demand environment, which it views as supporting its thesis that the recent inventory correction and lower capex has created a "great opportunity" to add to Semi positions. After meeting with management, Jefferies has increased conviction that NXP Semiconductors (NXPI) will soon sell its HPRF business and return to its stock buyback program before most expect. It has Buy ratings on AMD (AMD), Microchip (MCHP), NXP and Texas Instruments (TXN).
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