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January 30, 2015
09:02 EDTEMCEMC valuation and capital return should support shares, says Brean Capital
Brean Capital believes EMC's valuation and capital return strategy should support its shares. The firm also sees robust free cash flow and expects its higher growth offerings to help revenue generation. Brean Capital reiterated its Buy rating but lowered its price target to $31 from $33 on EMC.
January 29, 2015
16:17 EDTSCSCScansource sees Q3 EPS 54c-57c, consensus 65c
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16:16 EDTSCSCScansource reports Q2 EPS 68c, consensus 66c
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09:08 EDTEMCEMC announces restructuring plan with 'reduction in force'
EMC earlier today said its management approved a restructuring plan. The plan consists of a "reduction in force which will be substantially completed by the end of the first quarter of 2015 and fully completed by the end of 2015." The total charge resulting from this plan is expected to be approximately $130M-$150M, with total cash payments associated with the plan expected to be in the range of $120M-$140M.
09:06 EDTFLEXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Flextronics (FLEX), up 6%... Coach (COH), up 6.3%... Autoliv (ALV), up 4.3%... Dow Chemical (DOW), up 3.5%... Ford (F), up 0.8%. ALSO HIGHER: McDonald's (MCD), up 3% after announcing CEO change...Xencor (XNCR), up 19% after reporting results from two trials... Pluristem Therapeutics (PSTI), up 8% after providing update and outlook on trials and pipeline... Avon Products (AVP), up 2.3% after naming James Scully as CFO... Omeros (OMER), up 6% after 2.996M share spot secondary priced at $20.03. DOWN AFTER EARNINGS: Alibaba (BABA), down 8%... Qualcomm (QCOM), down 6.8%... Alexion (ALXN), down 1.1% after reporting fourth quarter results, fiscal 2015 guidance, and CEO appointment. ALSO LOWER: Yahoo (YHOO), down 7% following Alibaba earnings report... Venaxis (APPY), down 72% after its APPY1 Test was determined by the FDA to not meet the criteria for substantial equivalence.
07:00 EDTEMCEMC sees FY15 EPS $1.98, consensus $2.13
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06:58 EDTEMCEMC reports Q4 EPS 69c, consensus 68c
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January 28, 2015
18:21 EDTCTXS, FLEXOn The Fly: After Hours Movers
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16:29 EDTCTXSCitrix up 3.2% after reporting Q1 results, restructuring plan
16:15 EDTFLEXFlextronics sees Q4 adjusted EPS 23c-27c, consensus 24c
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16:15 EDTFLEXFlextronics reports Q3 adjusted EPS 30c, consensus 26c
Reports Q3 revenue $7.03B, consensus $6.62B.
16:12 EDTCTXSCitrix reports restructuring program affecting 700 f/t, 200 p/t workers
Citrix announced the implementation of a restructuring program designed to increase strategic focus and operational efficiency. The restructuring will affect approximately 700 full-time and 200 contractor positions, and is expected to result in annualized pre-tax savings in the range of approximately $90M-$100M. Citrix expects to incur pre-tax charges in the range of approximately $40M-$45M related to employee severance arrangements and $9M-$10M related to the consolidation of leased facilities during FY15.
16:09 EDTCTXSCitrix sees FY15 EPS $3.60-$3.65, consensus $3.36B
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16:08 EDTCTXSCitrix sees Q1 EPS 70c-72c, consensus 80c
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16:05 EDTCTXSCitrix reports Q4 EPS $1.10, consensus $1.03
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15:37 EDTFLEX, CTXSNotable companies reporting after market close
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12:41 EDTEMCEarnings Preview: Firm says EMC could unveil share repurchases, restructuring
EMC (EMC) is scheduled to report fourth quarter earnings before the open on Thursday, January 29, with a conference call scheduled for 8:30 am ET. EMC is a provider of IT infrastructure. EXPECTATIONS: Analysts expect the company to report earnings per share of 68c on revenue of $7.1B. The consensus range is 67c-70c for EPS and $7B-$7.2B for revenue. LAST QUARTER: EMC reported slightly lower than expected profit and slightly higher than expected revenue for the third quarter. Its fiscal 2014 guidance was roughly in-line. EMC said that it would adopt an aggressive stance during fiscal 2015, which started recently, when it comes to returning cash to shareholders. The company said that it would not comment on speculation that it had held talks about selling the company to HP (HPQ). On November 5, David Einhorn’s Greenlight Capital revealed that it had taken a "medium-sized" long position in EMC. RECENT NEWS: On January 12, EMC agreed to add two men backed by activist investor Elliott Management to its board. In return, Elliott, which had been pushing EMC to break itself up, entered into a limited standstill agreement with EMC. Under the framework of that deal, Elliott pledged to back EMC’s other proposed directors at the company's next shareholder meeting, scheduled to take place on April 30. Elliott has a $1B stake in EMC. STREET RESEARCH: In a note to investors on January 26, Wells Fargo predicted that EMC’s results could beat expectations, driven by catch-up spending on storage solutions after soft spending trends in the first half 2014, Wells stated. On other other hand, EMC’s 2015 EPS guidance could miss expectations, as other analysts may not have adequately calculated the effects of the company’s acquisition, the firm stated. But EMC could increase the size of its share repurchases or announce a restructuring initiative that could offset any negative effects of the VCE deal on its EPS, Wells believes,. The firm views the stock as a core long-term holding, as it believes that the company’s current investments in new technologies will drive growth and earnings leverage, especially in 2016 and later In a note to investors on January 26, research firm Pacific Crest wrote that EMC’s 2015 EPS guidance could miss expectations, due to all the costs generated by VCE and EMC’s investments in next-generation technologies. However, EMC’s share gains and profit growth should accelerate in 2016, making it a good stock for investors to buy opportunistically this year, the firm advised. It kept a $30 price target and Outperform rating on the stock. PRICE ACTION: EMC's stock is down 11.5% in the last month, but the shares are still up 7.7% over the last twelve months.
08:58 EDTMUMicron SanDisk have positive read-through from Hynix comments, says Sterne Agee
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January 27, 2015
18:20 EDTEMCOn The Fly: After Hours Movers
UP AFTER EARNINGS: ABIOMED (ABMD), up 27%... Yahoo (YHOO), up 7.2% after reporting fourth quarter results and that it is planning a tax-free spin-off of remaining Alibaba (BABA) stake... Freescale Semiconductor (FSL), up 10%... Marten Transport (MRTN), up 6%... U.S. Steel (X), up 9.2%... Key Tronic (KTCC), up 4%... Juniper Networks (JNPR), up 4.4%... Western Digital (WDC), consensus 2.6%... Electronic Arts (EA), up 4.8%... VMware (VMW), up 1.7%... AT&T (T), up 1.9%... Apple (AAPL), up 5.1%. ALSO HIGHER: Cirrus Logic (CRUS), up 2.9%, Skyworks (SWKS), up 1.3%, NXP Semiconductors (NXPI), up 1.5%, and Qorvo (QRVO), up 1% following Apple's first quarter results... EMC (EMC), up 2.1% following VMware's fourth quarter results... Alibaba (BABA), up marginally following Yahoo results and tax-free spin-off plans... DOWN AFTER EARNINGS: Ethan Allen (ETH), down 13.1%... EZCORP (EZPW), down 7.1%... International Game Technology (IGT), down 2.9%... Open Text (OTEX), down 4.4%. ALSO LOWER: Synergy Resources (SYRG), down 3.7% after filing to sell $150M of common stock.
13:43 EDTAMDIntel would not let AMD x86 license 'fall into hands' of China, Hesseldahl says
Following a Chinese language report claiming that Chinese company BLX IC Design could be interested in buying AMD (AMD), Re/code's Arik Hesseldahl said on Twitter that he believes there is "no way" Intel (INTC) would allow AMD's x86 license to fall into the hands of a China-based owner. AMD shares, which rose significantly yesterday, are up another 5.2% today in afternoon trading. Reference Link
13:16 EDTAMDAMD continues advance following Chinese report of takeover interest
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09:04 EDTEMCEMC January weekly volatility elevated into Q4 and outlook
EMC January weekly call option implied volatility is at 39, February is at 24, March is at 23; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on January 29.
05:51 EDTAMDStocks with implied volatility movement; AMD AVP
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January 26, 2015
11:43 EDTEMCEMC to release Q4 results on January 29
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11:09 EDTAMDAMD calls active amid takeover speculation
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11:02 EDTAMDRumor: AMD rises amid takeover speculation
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January 25, 2015
17:30 EDTMUDelta Air Lines, Ford, four others could shine this year, Barron's says
Delta Air Lines (DAL), Ford (F), Discover (DFS), JPMorgan Chase (JPM), Lam Research (LRCX), and Micron Technology (MU) could all provide growth at a reasonable price this year, Barron's contends in a feature article. Reference Link
January 23, 2015
05:58 EDTAMDAMD faces declining graphics card market share, DigiTimes reports
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January 22, 2015
13:03 EDTMUAnalysts differ on SanDisk after Apple loss clips outlook
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08:57 EDTEMCIxia slides after Oracle unveils Virtual Compute Appliance X5
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January 21, 2015
17:50 EDTMUSanDisk reverses in after hours to down 6% after guidance
SanDisk peer Micron is trading down over 1% in the after hours.
16:03 EDTPLXSPlexus sees Q2 EPS 64c-72c, consensus 72c
Sees Q2 revenue $630M-$660M, consensus $648.63M. Company said, "The anticipated revenue decline reflects the expectation that our Networking/Communications sector will return to more normalized levels after a seasonally strong first quarter that exceeded our expectations."
16:02 EDTPLXSPlexus reports Q1 EPS ex-items 72c, consensus 72c
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16:02 EDTPLXSPlexus reports Q1 EPS with charges 67c, consensus 72c
Reports Q1 revenue $665M, consensus $648.11M. EPS includes 11c per share of stock-based compensation expense and 5c per share of restructuring charges.
15:27 EDTPLXSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.38; Kinder Morgan (KMI), consensus 34c; eBay (EBAY), consensus 89c; Discover Financial Services (DFS), consensus $1.30; Crown Castle (CCI), consensus $1.05; Crown Castle (SNDK), consensus $1.27; Xilinx (XLNX), consensus 61c; F5 Networks (FFIV), consensus $1.49; United Rentals (URI), consensus $2.07; Plexus (PLXS), consensus 72c; Boston Private Financial Holdings (BPFH), consensus 22c; Dolby Laboratories (DLB), consensus 38c; SLM (SLM), consensus 5c; East West Bancorp (EWBC), consensus 65c; Raymond James Financial (RJF), consensus 86c; BancorpSouth (BXS), consensus 32c.
09:02 EDTEMCSciQuest names Beth Hendriks as Chief Technology Officer
SciQuest (SQI) announced that EMC (EMC) executive Beth Hendriks will be joining the company as its new chief technology officer. In this role, she will be responsible for enhancing the breadth and depth of the SciQuest Spend Management Suite while accelerating technology and user experience innovation. Hendriks joins SciQuest from EMC, where she served as senior director of engineering.
08:17 EDTAMDAMD likely to start burning cash, says Bernstein
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08:01 EDTSNXSYNNEX, Nexenta sign exclusive distribution agreement
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January 20, 2015
18:30 EDTAMDOn The Fly: After Hours Movers
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17:55 EDTAMDAMD says inventory expected to be flat y/y in 2015
Says high levels of desktops in inventory channels, but correcting quickly. Says plans to increase R&D in enterprise segment. Says expects to diversify revenue base. Says has "more work to do" to improve revenue. Comments from company's Q4 earnings conference call.
16:33 EDTAMDAMD CEO says addressing channel headwinds in Computing and Graphics segment
"We made progress diversifying our business, ramping design wins and improving our balance sheet this past year despite challenges in our PC business," said Dr. Lisa Su, AMD president and CEO. "Annual Enterprise, Embedded and Semi-Custom segment revenue increased over 50% as customer demand for products powered by our high-performance compute and rich visualization solutions was strong. We continue to address channel headwinds in the Computing and Graphics segment and are taking steps to return it to a healthy trajectory beginning in the second quarter of 2015."
16:19 EDTAMDAMD reports Q4 Computing and Graphics segment revenue down 15% sequentially
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16:16 EDTAMDAMD sees Q1 revenue down 15%, plus or minus 3%, consensus $1.2B
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16:16 EDTAMDAMD reports Q4 gross margin 29%, non-GAAP gross margin 34%
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16:15 EDTAMDAMD reports Q4 adjusted EPS 0c, consensus 1c
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15:21 EDTAMDNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $5.41; Netflix (NFLX), consensus 45c; CA Technologies (CA), consensus 60c; Cree (CREE), consensus 22c; Woodward (WWD), consensus 46c; Fulton Financial (FULT), consensus 21c; Advanced Micro Devices (AMD), consensus 1c; Interactive Brokers (IBKR), consensus 6c; Pinnacle Financial (PNFP), consensus 53c.
08:25 EDTMUMicron upgraded to Positive at Susquehanna
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06:47 EDTMUMicron upgraded to Positive from Neutral at Susquehanna
05:49 EDTAMDStocks with implied volatility movement; RSH AMD
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