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Stock Market & Financial Investment News

News Breaks
July 17, 2014
12:15 EDTHILL, FIO, EMC, SNDK, NTAPSanDisk plummets after Q3 revenue outlook disappoints
Shares of flash memory manufacturer SanDisk (SNDK) are sinking after the company’s third quarter revenue outlook trailed analysts’ consensus estimates. WHAT'S NEW: Last night, SanDisk reported second quarter adjusted EPS of $1.41 and revenue of $1.63B, beating estimates of $1.39 and $1.6B, respectively. The company said Q2 adjusted gross margin came in at 48%. President and Chief Executive Officer Sanjay Mehrotra commented that SSD solutions comprised 29% of Q2 revenue, compared to 16% in the year ago quarter, "demonstrating strong progress in driving our strategic priorities." Mehrotra said the Q2 results positions the company to deliver a record year in 2014. WHAT’S NOTABLE: SanDisk forecast Q3 revenue of $1.675B-$1.725B, below consensus estimates of $1.74B. The comapny also guided Q3 adjusted gross margin at 47%-49%. On the company's earnings conference call, management said it expects the second half of 2014 to be "somewhat supply constrained." The company expects the Fusion-io (FIO) deal to close in Q3, and sees it being accretive to earnings in the second half of fiscal 2015, though initial synergies will be "modest." SanDisk sees fiscal year 2014 cash capital expenditures of approximately $600M and is still targeting returning 100% of free cash flow to shareholders. ANALYST REACTION: This morning, analyst commentary was mostly positive. Research firm Piper Jaffray said SanDisk’s post-earnings pull back represents a buying opportunity. The firm, which reiterated an Overweight rating with a $110 price target, believes favorable trends for 2015 remain intact. BofA/Merrill reiterated its Buy rating and $125 price target on the shares. Conversely, Summit Research said it believes SanDisk's valuation is stretched and priced to perfection. The firm believes margins have peaked and 3D NAND issues remain a concern. PRICE ACTION: In early afternoon trading, SanDisk fell $13.72 or about 12.64%, to $94.20 on nearly four times its average daily trading volume. Despite today’s pull back, the stock has gained approximately 59% over the past twelve months, and 34% year to date. OTHERS TO WATCH: Other companies that produce memory include NetApp (NTAP), EMC (EMC) and Dot Hill Systems (HILL).
News For SNDK;FIO;NTAP;EMC;HILL From The Last 14 Days
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November 13, 2014
08:14 EDTEMCEMC initiated with a Hold at Maxim
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07:36 EDTNTAPNetApp price target raised to $47 from $45 at Brean Capital
Brean Capital raised its price target on NetApp to $47 from $45 following its Q2 results. The firm feels the company's balance sheet and free cash flow generation will underpin a capital return program. Brean Capital reiterates its Buy rating on NetApp shares.
05:32 EDTSNDKSanDisk upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded SanDisk to Buy saying the weakening in the yen will likely be a positive for margins in 2015. Goldman raised its price target for shares to $106 from $87.
November 12, 2014
18:29 EDTNTAPOn The Fly: After Hours Movers
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17:44 EDTNTAPNetApp reaffirms FY15 EPS growth just under 10%, consensus $3.00
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16:08 EDTNTAPNetApp announces availability of two new products on AWS
NetApp (NTAP) announced the general availability of two new products, the NetApp SteelStore appliance and the NetApp Cloud ONTAP system, on Amazon Web Services (AMZN). The company said, "Now enterprises have additional options to extend their existing on-premises data management and data protection operations to AWS."
16:01 EDTNTAPNetApp sees Q3 EPS 74c-79c, consensus 80c
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16:01 EDTNTAPNetApp reports Q2 EPS 70c, consensus 70c
Reports Q2 revenue $1.54B, consensus $1.55B.
15:29 EDTNTAPNotable companies reporting after market close
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15:08 EDTEMCEarnings Preview: Cisco reports amid analyst debate on break-up potential
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15:04 EDTNTAPNetApp November weekly 42 straddle priced for 5.1% move into Q2
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14:47 EDTNTAPNetApp technical comments ahead of results
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10:00 EDTNTAPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advent Software (ADVS) initiated with a Neutral at BofA/Merrill... Agios Pharmaceuticals (AGIO) initiated with a Buy at Canaccord... Ashford Hospitality (AHT) initiated with a Neutral at Credit Suisse... AvalonBay (AVB) initiated with a Neutral at Credit Suisse... Berkshire Hills Bancorp (BHLB) initiated with a Buy at Compass Point... Boston Properties (BXP) initiated with an Outperform at Credit Suisse... Brandywine Realty (BDN) initiated with a Neutral at Credit Suisse... Brookline Bancorp (BRKL) initiated with a Neutral at Compass Point... CNH Industrial (CNHI) initiated with an Underperform at Macquarie... Camden Property (CPT) initiated with a Neutral at Credit Suisse... Care.com (CRCM) initiated with a Buy at Craig-Hallum... Corporate Office Properties (OFC) initiated with an Underperform at Credit Suisse... DCT Industrial (DCT) initiated with an Underperform at Credit Suisse... DDR Corp. (DDR) initiated with a Neutral at Credit Suisse... Demandware (DWRE) initiated with a Buy at Mizuho... DiamondRock (DRH) initiated with a Neutral at Credit Suisse... Douglas Emmett (DEI) initiated with a Neutral at Credit Suisse... EastGroup Properties (EGP) initiated with an Underperform at Credit Suisse... Equity One (EQY) initiated with a Neutral at Credit Suisse... Equity Residential (EQR) initiated with a Neutral at Credit Suisse... Essex Property Trust (ESS) initiated with a Neutral at Credit Suisse... Forest City (FCE.A) initiated with an Outperform at Credit Suisse... General Growth (GGP) initiated with a Neutral at Credit Suisse... Host Hotels (HST) initiated with a Neutral at Credit Suisse... Hudson Pacific (HPP) initiated with an Outperform at Credit Suisse... Kilroy Realty (KRC) initiated with an Underperform at Credit Suisse... Kimco Realty (KIM) initiated with an Outperform at Credit Suisse... LaSalle Hotel (LHO) initiated with an Outperform at Credit Suisse... Macerich (MAC) initiated with a Neutral at Credit Suisse... MasterCard (MA) initiated with a Hold at Topeka... NetApp (NTAP) initiated with a Buy at Maxim... Pebblebrook Hotel (PEB) initiated with an Outperform at Credit Suisse... Prologis (PLD) initiated with an Outperform at Credit Suisse... RLJ Lodging Trust (RLJ) initiated with an Outperform at Credit Suisse... Regency Centers (REG) initiated with a Neutral at Credit Suisse... Ryerson (RYI) initiated with a Buy at Deutsche Bank... SL Green Realty (SLG) initiated with an Underperform at Credit Suisse... Simon Property (SPG) initiated with an Outperform at Credit Suisse... Strategic Hotels (BEE) initiated with a Neutral at Credit Suisse... Sunstone Hotel (SHO) initiated with an Outperform at Credit Suisse... Taubman Centers (TCO) initiated with an Outperform at Credit Suisse... UDR, Inc. (UDR) initiated with a Neutral at Credit Suisse... VWR (VWR) initiated with a Neutral at Citigroup... VeriFone (PAY) initiated with a Buy at Topeka... Visa (V) initiated with a Hold at Topeka... Vornado (VNO) initiated with a Neutral at Credit Suisse... Westfield Financial (WFD) initiated with a Buy at Compass Point... XPO Logistics (XPO) initiated with an Outperform at Cowen.
08:12 EDTHILLSeeThruEquity to hold a conference
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06:20 EDTNTAPNetApp initiated with a Buy at Maxim
Target $55.
November 11, 2014
14:03 EDTNTAPNetApp November weekly volatility elevated into Q2 and revenue outlook
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08:42 EDTEMCEMC returns could be limited after potential spin off, says Bernstein
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November 10, 2014
15:55 EDTSNDK, HILLNeedham to hold a conference
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07:23 EDTSNDKRBC Capital to hold a conference
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November 7, 2014
11:18 EDTNTAPNetApp shares defended at Pacific Crest
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