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Stock Market & Financial Investment News

News For TECD;CTXS;MU;FLEX;IM;AMD;SNX;DELL;EMC;PLXS;SCSC From The Last 14 Days
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January 13, 2015
09:36 EDTAMDActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
08:15 EDTSNXSYNNEX Q4 results increase bullish conviction, says Brean Capital
Brean Capital said the Q4 results and guidance from SYNNEX support the firm's bullish investment framework. The firm sees continued growth and solid operating leverage as well as the potential for higher margins. Brean Capital reiterated its Buy rating and $90 price target on SYNNEX shares.
07:15 EDTTECD, MUNeedham to hold a conference
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January 12, 2015
18:28 EDTSNXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Alcoa (AA), up 1.4%; SYNNEX (SNX), up 5.4%. LOWER: Big 5 Sporting Goods (BGFV), down 8.3% after lowering fourth quarter revenue outlook... Wolverine World Wide (WWW), down 7.9% after reporting preliminary fourth quarter and fiscal 2014 results... Aimco (AIV), down 2.2% after filing to sell 8.2M shares of common stock... Brixmor Property Group (BRX), down 1.6% after offering 17.5M shares of common stock for holders.
17:55 EDTAMDAMD executives LaForce, Naik, Byrne depart the company, Barron's says
AMD's Chief Marketing Officer Colette LaForce, Chief Strategy Officer Raj Naik, and John Byrne the General Manager, Computing and Graphics Business Group have departed the company, reports Barron's in their 'Tech Trader Daily' column, citing a regulatory filing and an emailed statement by the company. Reference Link
17:53 EDTAMDAMD General Manager, Computing and Graphics Business Group departs
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16:32 EDTMUOn The Fly: Closing Wrap
Stocks spent almost the entire session in negative territory as the continued slump in crude oil prices weighed on equities. As the price of crude searches for a bottom, analysts and investors are concerned about how the low prices may affect U.S. economic growth. It had been estimated that more than half of the expected growth in the S&P 500's earnings would come from the oil industry and the continued drop in oil prices may be wiping out the chances of earnings increasing from the prior quarter. The earnings season unofficially kicks off tonight when Alcoa (AA) reports its fourth quarter earnings. ECONOMIC EVENTS: In the U.S., no major economic data was released. WTI and Brent crude both suffered slides of 5% during the session, sending WTI oil below $46 and Brent near $47 per barrel. Of note, Goldman Sachs said it sees oil prices bottoming in Q2 of this year at $42 a barrel. Goldman lowered its Brent crude oil price estimate for 2015 to $50 a barrel from $84 and for 2016 onwards to $70 a barrel from $90. COMPANY NEWS: Shire (SHPG) shares trading in New York slipped $8.39, or 3.86%, to $209.10 after the company announced over this weekend that it struck a deal to acquire NPS Pharmaceuticals (NPSP) for $46 per share in cash, for a total consideration of approximately $5.2B. NPS shares gained $3.44, or 8.21%, to $45.35... Shares of flash storage provider SanDisk (SNDK) dropped $13.47, or 13.88%, to $83.57 after the company cut its revenue outlook for Q4 and added that non-GAAP gross margin for the quarter is expected to be approximately 45%, compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. Micron (MU) fell $1.87, or 5.56%, to $31.66 following the warning from its peer. MAJOR MOVERS: Among the notable gainers was Foundation Medicine (FMI), whose shares surged $22.81, or 95.32%, to $46.74 after the company and Roche (RHHBY) announced that they will enter into a strategic collaboration. Roche will invest in Foundation as part of the deal, resulting in Roche owning a minimum of 52.4% and a maximum of 56.3% of Foundation Medicine on a fully diluted basis. Also higher was Build-A-Bear Workshop (BBW), which jumped $3.12, or 16.75%, to $21.75 after the toy company gave a fourth quarter revenue view that beat expectations. Among the noteworthy losers was Arrowhead Research (ARWR), which fell $2.16, or 23.84%, to $6.90 after announcing that the FDA verbally informed the company of a partial clinical hold on its study of ARC-520 in patients with chronic hepatitis B infection. Also lower were shares of Sarepta Therapeutics (SRPT), which dropped $2.04, or 14.62%, to $11.91 after the company provided data through Week 168 from its Phase IIb open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy. INDEXES: The Dow fell 96.53, or 0.54%, to 17,640.84, the Nasdaq lost 39.36, or 0.84%, to 4,664.71, and the S&P 500 declined 16.55, or 0.81%, to 2,028.26.
16:15 EDTSNXSYNNEX announces quarterly dividend of 12.5c per share
SYNNEX announced today that its board of directors has declared a quarterly cash dividend of 12.5c per common share, payable on January 30 to the shareholders of record as of the close of business on January 16.
16:13 EDTSNXSYNNEX sees Q1 EPS $1.49-$1.54, consensus $1.45
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16:12 EDTSNXSYNNEX reports Q4 EPS $1.83, consensus $1.69
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15:26 EDTSNXNotable companies reporting after market close
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12:46 EDTMUOn The Fly: Midday Wrap
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11:08 EDTEMCEMC says Elliott agrees to certain limited standstill provisions through Sept.
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10:15 EDTMUOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:34 EDTMUActive equity options trading
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09:03 EDTMUSanDisk drops 9% after cutting Q4 revenue outlook
Shares of flash storage provider SanDisk (SNDK) are sinking after the company cut its revenue outlook for Q4 to $1.73B from $1.80B-$1.85B. It added that non-GAAP gross margin for the quarter is expected to be approximately 45% compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. The stock is dropping 9%, or $8.40, to $88.64 in pre-market trading while peer Micron (MU) is down 3% to $32.54.
08:33 EDTSCSCScansource signs agreemen to acquire Network1
ScanSource has signed a definitive agreement to purchase Network1, Intersmart Comércio Importação Exportação de Equipamentos Eletrônicos, S.A. Network1 is one of Brazil’s leading value-added distributors with a strong offering of communications equipment and services. As part of the transaction, ScanSource has purchased all of Network1’s operations throughout Latin America, including Brazil, Mexico, Colombia, Chile and Peru. The acquisition is anticipated to close this week, upon completion of the transfer of funds. The acquisition is expected to be accretive to earnings per share and return on invested capital in the first year after closing, excluding one-time acquisition costs. The all-cash transaction includes an initial purchase price payment and a fixed amount of assumed net debt for an initial purchase price of approximately R$15M, or approximately $60M, plus earnout payments based on EBITDA over the next four years.
08:05 EDTCTXSCitrix acquires Sanbolic, terms not disclosed
Citrix announced that is has completed its acquisition of Sanbolic. Sanbolic technology enables customers to software-define storage to optimize the delivery of application-specific workloads, from any media type – SSD, Flash and hard drives in NAS, SAN, server-side and cloud deployments – improving storage load balancing, application availability and delivering the highest-performance end-user experience. The terms of the acquisition were not disclosed.
07:03 EDTCTXSCiti recommends long VMware, short Citrix pair trade
Citigroup closes out its Software pair trade of long Intuit (INTU), short Autodesk (ADSK) and recommends a new trade of long VMware (VMW), short Citrix (CTXS). Citi expects VMware to report strong Q4 results relative to "modest" expectations and sees potential risk to Citrix's sales outlook.
06:44 EDTAMDIntel shares could trade higher near-term, says Citigroup
Citigroup says shares of Intel (INTC) could move higher over the near-term given the high short interest in the name and likely above guidance earnings results. Citi says its channel checks indicate the PC market remains stable and that Intel continues to gain share from AMD (AMD). The firm keeps a Neutral rating on Intel, however, pointing out its 2015 estimates remain below consensus.
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