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April 21, 2014
07:43 EDTSMT, INTCSMART Technologies announces share structure changes after board resignations
SMART Technologies (SMT) reports that, commensurate with the resignations of Mr. Martin and Ms. Knowlton from the board of directors, all of its issued and outstanding Class B shares have automatically converted into single vote Class A Subordinate Voting Shares. The company no longer has any issued and outstanding Class B shares that carry multiple voting privileges and no further Class B shares are permitted to be issued by the company. On April 17, there were 79,464,195 Class B shares outstanding and such shares have now converted into 79,464,195 Class A Subordinate Voting Shares, representing 65.6% of the outstanding Class A Subordinate Voting Shares. After this conversion, the breakdown of Class A Subordinate Voting Shares is: Mr. Martin and Ms. Knowlton own 23.5%, entities related to and funds advised by Apax Partners hold 31.1%, Intel (INTC) holds 14.4% and the remaining 31.0% of shares are widely held.
News For SMT;INTC From The Last 14 Days
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October 9, 2015
14:12 EDTINTCOn The Fly: Weekly technical notes ahead of earnings from financials, Netflix
The S&P 500 (SPX) has staged a strong comeback, which appears to have been triggered technically by a move above 1950 last Friday. This level has been a relative constant in recent months as both support and resistance. The reason for that becomes clear when one looks at the traverse over the last month from high to low, and again the bounce to current highs. The high of what for now is the new range is at 2020 and the low is at 1870. The 1945 level becomes the midpoint, with moves above it signaling runs to the top of the range as favorable. Equally, moves below 1945 have seen the opposite reaction. The bulk of the rally in the last week has been provided by very strong snap-backs in Energy (XLE) and Materials (XLB), with the Financials (XLF) holding their own as well. Weakness has been seen in Technology (XLK) and Health Care (XLV), with the latter previously having been the index leader. Emerging Markets also gained traction, with China playing catch-up after a week of market closure. These recoveries have done much to improve bullish sentiment. Given the fundamental backdrop, it isn't clear how much further Energy and Materials can go on the upside. But we will have a real test in the coming week as to the disposition of the Financials, as the earnings calendar is dominated by banking and insurance. If earnings and outlooks are strong for the sector, we could see a breakout which could, all other sectors remaining roughly where they are today, result in a test of what had previously been support in the S&P 500 at 2050. Any move above that level could see buyers coming back in for fear of missing a larger potential move. At the same time that the Financials will be reporting, earnings will also be reported by high-fliers such as Netflix (NFLX) and old line tech such as Intel (INTC). We have seen some rather severe downside reactions in names that have disappointed in the past week. Should either of those names slip substantially, the chances of a sustainable broader rally would diminish. The calendar is packed extra-full next week, given the absence of names reporting on Monday, with a very back-end loaded week. That puts the risk now squarely on the bulls. The 50-day moving average for the index needs to be watched as a resumption below it would put the chances of a larger recovery in doubt. The 50-day was last at 1992.68.
10:07 EDTINTCEU set to approve Intel offer for Altera without concessions, Reuters says
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10:01 EDTINTCEU set to approve Intel offer for Altera without concessions, Reuters says
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08:32 EDTSMTSMART Technologies expects FY16 to be weaker than anticipated
The company said sales from SMART kapp are growing at a slower rate than originally envisaged. Given the change in outlook, management has taken decisive action to significantly reduce expenses, primarily relating to kapp sales and marketing activities and related R&D spend, while protecting core education and enterprise business operations and associated R&D activities. The new operating model is expected to be in place before calendar year end. These actions are anticipated to result in the company having sufficient liquidity and cash flow neutrality for fiscal year 2017.
06:31 EDTINTCPiper positive on Intel shares into Q3 earnings report
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October 8, 2015
16:02 EDTINTCOptions Update; October 8, 2015
iPath S&P 500 VIX Short-Term Futures down 1.04 to 21.22. Option volume leaders: AAPL NFLX FB TWTR BAC EMC TSLA GE HUN FCX P BABA AA INTC AMZN GPRO
13:39 EDTINTCIntel October volatility elevated into Q3 and outlook
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13:39 EDTINTCAmazon Web Services announces AWS IoT
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October 7, 2015
16:01 EDTINTCOptions Update; October 7, 2015
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06:28 EDTINTCIC designers: Tablet demand remains weak, DigiTimes reports
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October 6, 2015
17:50 EDTINTCAltera stockholders approved merger with Intel
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16:01 EDTINTCOptions Update; October 6, 2015
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October 2, 2015
13:34 EDTINTCAltera to host special shareholder meeting
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12:09 EDTINTCMicrosoft acquires Havok from Intel, terms not disclosed
In a company blog post, Microsoft (MSFT) said, "Today, we are proud to announce that Microsoft has acquired Havok, the leading provider of 3D physics, from Intel (INTC). As we welcome Havok to the Microsoft family, we will continue to work with developers to create great gaming experiences, and continue to license Havok's development tools to partners." Reference Link
October 1, 2015
15:02 EDTINTCEarnings Watch: Micron quarter highlighted by Tsinghua report, 3D XPoint launch
Micron Technology (MU) is expected to report fourth quarter earnings after the close on Thursday, October 1, with a conference call scheduled for 4:30 pm EDT. Micron manufactures semiconductor devices, principally Dynamic Random Access Memory, or DRAM, NAND Flash and NOR Flash memory. EXPECTATIONS: Analysts are looking for earnings per share of 33c on revenue of $3.56B. The consensus range is 22c-47c for EPS on revenue of $3.4B-$3.68B, according to First Call. On its last earnings conference call, Micron guided for Q4 revenue of $3.45B-$3.7B. In terms of bit growth in Q4, the company said it expected DRAM bit growth to be flat to up by a low single digit percentage in the quarter. LAST QUARTER: On June 25, Micron reported Q3 adjusted EPS of 54c, against a consensus of 56c, and revenue of $3.85B, against a consensus of $3.9B. The company said then that its decline in revenues compared to prior quarter was primarily due to a 10% decline in DRAM average selling prices and relatively flat DRAM sales volume. NEWS: Wednesday, shares of Western Digital (WDC) surged after Unisplendour, a unit of China's Tsinghua Holdings, agreed to buy a 15% stake in the U.S. data storage company for $3.78B. In July, The Wall Street Journal reported that Tsinghua Unigroup, which is a majority-owned unit of Tsinghua Holdings, offered to buy Micron for $23B. As of yet no deal has come to fruition, but Tsinghua Holdings chairman Jinghong Xu has reportedly said that his company was open to a partnership with Micron if an acquisition deal could not be reached. Also during this quarter, Intel (INTC) and Micron unveiled 3D XPoint technology, a non-volatile memory that the companies say has the potential to "revolutionize any device, application or service that benefits from fast access to large sets of data." Now in production, 3D XPoint technology brings non-volatile memory speeds up to 1,000 times faster than NAND, according to the partners. STREET RESEARCH: After the Journal's initial report that Tsinghua had offered to acquire Micron, research firms had mixed reactions. Tsinghua may have indicated that it was making the "low ball" offer in order to gauge the reaction of Micron's management and shareholders to it, Summit Research analyst Srini Sundarararjan contended in a note to investors immediately following the story. Tsinghua will probably increase its bid, the analyst predicted. Piper Jaffray analyst Ruben Roy told investors that the deal makes sense for Tsinghua and China, but not for Micron. If a takeover of Micron was based on the average valuation that companies in Micron's sector had received in takeover deals over the last 18 months, it would fetch a takeover price of $43 per share, Roy estimated. Micron and Tsinghua are more likely to reach an intellectual property sharing deal than complete a takeover transaction, according to Piper's analyst. On August 7, Drexel Hamilton analyst Richard Whittington downgraded Micron to Hold from Buy, stating that a PC unit refresh hasn't materialized and DRAM unit demand and pricing were trending below anticipated levels. Whittington cut his price target on Micron shares to $19. After Micron held its analyst meeting on August 14, analysts were divided in their responses. Right after the event, Wells Fargo upgraded Micron to Market Perform from Underperform, while pointing out that it still believes that the company is facing several risks, including falling prices for DRAM and its rising capital spending. Although Micron is facing "challenging near-term conditions," including a weak PC market, the company outlined many positive aspects of its business at the meeting, according to Piper's Roy. Micron may miss estimates in the short-term but its share price is unlikely to drop much further, and its performance should improve significantly next year, Roy said at that time. Micron's decision to raise its capital spending suggests that it is "overconfident" in its new chips, according to Bank of America/Merrill Lynch analyst Simon Dong-je Woo, who cut his rating on the shares to Neutral from Buy following the analyst day. Also during August, Baird downgraded Micron to Neutral, citing falling DRAM prices. On September 21, Barclays analyst Blayne Curtis started shares of Micron with an Overweight rating and $20 price target, saying he believed near-term risk from weak DRAM demand was priced into the stock at then-current levels. Earlier this week, Wells Fargo analyst David Wong upgraded Micron Technology to Outperform, saying current valuation levels provide upside potential. Wong cut his estimates for the company, however, citing the "ongoing slide" in DRAM pricing. Nonetheless, he thinks that memory industry financial dynamics have improved in recent years and keeps a $16-$19 price target range for Micron shares. PRICE ACTION: Over the last three months, shares of Micron have fallen about 22%. Ahead of its earnings report, Micron declined 2.3% to $14.64 in late day trading.
September 30, 2015
16:00 EDTINTCOptions Update; September 30, 2015
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10:49 EDTINTCWestern Digital surges on $3.78B investment from China's Unisplendour
Shares of Western Digital (WDC) surged in morning trading after the company said it Unisplendour will take a 15% stake in the U.S. data storage company. WHAT'S NEW: Western Digital and Unisplendour, a unit of China's Tsinghua Holdings, said they entered into a pact under which a Unis subsidiary will invest $3.78B in Western Digital, the companies said. Under the terms of the agreement, Unis will buy the shares at $92.50 each. Unisplendour will own 15% of Western Digital's outstanding shares after the purchase, and have the right to nominate one representative to Western Digital's board of directors, a right that terminates if Unis' ownership falls below 10%. Unis also agreed not to sell any of its Western Digital shares for five years. WHAT'S NOTABLE: In July, the Wall Street Journal reported that Tsinghua Unigroup, which is majority-owned Tsinghua Holdings, offered to buy Micron Technology (MU) for $23B. After several talks and meetings over the matter, Reuters reported on August 28 that Zhao Weiguo, chairman of Tsinghua Unigroup, met with Micron in an attempt to revive takeover talks, but a deal did not come to fruition. Tsinghua Holdings chairman Jinghong Xu said that his company was open to a partnership with Micron if an acquisition deal could not be reached, dealReporter said. Separately, in May, Hewlett-Packard (HPQ) announced that it would sell a 51% stake in its H3C business to Unisplendour for roughly $2.3B. PRICE ACTION: In morning trading, Western Digital shares are up 16.06% to $79.91. OTHERS TO WATCH: Micron, which reports quarterly earnings on Thursday, is up 5.25% to $15.10, HP is up 2.56% to $25.28, SanDisk (SNDK) is up 9.2% to $53.63, Intel (INTC) is up 3.56% to $30.28, and Seagate (STX) is up 5.5% to $44.10.
09:59 EDTINTCActive equity options trading on open
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September 29, 2015
09:03 EDTINTCHP updates entry-level workstation
HP (HPQ) announced the HP Z240 Tower and Z240 SFF Workstations with next generation Intel (INTC) processors and HP Z Turbo Drive options, raising the bar for entry-level workstations, while providing the reliability of a workstation at the price point of a desktop PC. The Z240 is the latest update to the world's No. 1 ranked entry-level workstation, the HP Z230. As HP's most affordable workstation, the Z240 is ideal for customers in the video editing, MCAD/AEC, education, public sector and image viewing industries.
06:48 EDTINTCAMD stake sale talks with Silver Lake stalled, Bloomberg says
Advanced Micro Devices (AMD), a competitor of Intel (INTC), was in discussions to sell an approximate 25% stake to private equity firm Silver Lake Management before the talks were stalled, Bloomberg reports, citing people with knowledge of the matter. The two sides have put talks on hold after they failed to reach an agreement over price and strategy, the report says. AMD is looking into other strategic options, the report says. Reference Link
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