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Stock Market & Financial Investment News

News Breaks
July 17, 2014
11:54 EDTSNDK, STXStocks with call strike movement; SNDK STX
SanDisk (SNDK) October 105 call option implied volatility decreased 8% to 32, Seagate (STK) January 67.5 call option implied volatility increased 6% to 27 according to IVolatility.
News For SNDK;STX From The Last 14 Days
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July 22, 2015
17:28 EDTSNDKSanDisk advances 12% after Q2 results, guidance
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17:25 EDTSNDKSanDisk sees Q3 revenue $1.35B-$1.45B, consensus $1.41B
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17:25 EDTSNDKSanDisk backs FY15 revenue view $5.4B-$5.7B, consensus $5.53B.
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17:21 EDTSNDKSanDisk does not expect Toshiba announcement to impact financial results
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17:06 EDTSNDKSanDisk says progressing with qualification of embedded component product
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16:06 EDTSNDKSanDisk reports Q2 non-GAAP EPS 66c, consensus 33c
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15:26 EDTSNDKNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:09 EDTSNDKEarnings Watch: Summit breaks trend with upgrade of Sandisk to Buy
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12:16 EDTSNDKSanDisk technical notes before earnings
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07:10 EDTSNDKSanDisk July weekly volatility elevated into Q2 and outlook
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July 20, 2015
10:00 EDTSNDKOn The Fly: Analyst Upgrade Summary
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08:13 EDTSNDKSanDisk upgraded to Neutral at Nomura
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06:11 EDTSNDKSanDisk upgraded to Neutral from Reduce at Nomura
July 15, 2015
10:01 EDTSTXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AGCO (AGCO) upgraded to Market Perform from Underperform at Wells Fargo... Anglo American (AAUKY) upgraded to Outperform from Neutral at Credit Suisse... Avis Budget (CAR) upgraded to Buy from Hold at Deutsche Bank... Brookfield Renewable (BEP) upgraded to Neutral from Underperform at Credit Suisse... CSX (CSX) upgraded to Outperform from Sector Perform at RBC Capital... Centene (CNC) upgraded to Buy from Hold at Jefferies... Commerce Bancshares (CBSH) upgraded to Market Perform at Raymond James... Entegris (ENTG) upgraded to Buy at Craig-Hallum... Guess (GES) upgraded to Market Perform from Underperform at Telsey Advisory... Hertz (HTZ) upgraded to Buy from Hold at Deutsche Bank... Iberdrola (IBDRY) upgraded to Buy from Hold at Societe Generale... Liberty Global (LBTYA) upgraded to Conviction Buy from Buy at Goldman... LinkedIn (LNKD) upgraded to Overweight from Equal Weight at Barclays... Lonmin (LNMIY) upgraded to Neutral from Sell at Goldman... Navient (NAVI) upgraded to Overweight from Equal Weight at Barclays... NetApp (NTAP) upgraded to Sector Weight from Underweight at Pacific Crest... Omnicom (OMC) upgraded to Outperform from Market Perform at Wells Fargo... PTC Therapeutics (PTCT) upgraded to Overweight from Neutral at JPMorgan... Panera Bread (PNRA) upgraded to Overweight from Underweight at Piper Jaffray... Primerica (PRI) upgraded to Strong Buy from Market Perform at Raymond James... Sands China (SCHYY) upgraded to Overweight from Equal Weight at Barclays... Seagate (STX) upgraded to Buy at Craig-Hallum... Western Digital (WDC) upgraded to Buy from Hold at Craig-Hallum... Wolseley (WOSYY) upgraded to Overweight from Neutral at JPMorgan.
08:56 EDTSTXSeagate upgraded to Buy at Craig-Hallum
As previously reported, Craig-Hallum upgraded Seagate to Buy from Hold and maintained its $56 price target. The firm believes PC data points will improve in 2H and that Seagate remains committed to increasing its dividend in the fall and will continue to focus on returning cash flow to investors.
07:36 EDTSTXSeagate upgraded to Buy from Hold at Craig-Hallum
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July 14, 2015
10:52 EDTSNDKAnalysts say Micron could be sold, but not at price Tsinghua said to offer
Research firms have reacted to a Wall Street Journal report, published last night, that Chinese chip maker Tsinghua had offered to acquire Micron (MU) for $23B, or $21 per share. Summit Research said that Tsinghua would probably raise its bid, while JMP Securities wrote that the deal would be logical from Tsinghua's perspective. However, Piper Jaffray contended that the reported buyout offer is illogical and Cowen agreed, saying that the deal makes no sense for shareholders. ANALYST REACTION: 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. Tsinghua will probably increase its bid, the analyst predicted, adding that he expects Micron's stock to reach $21 soon. Sundarararjan kept a $34 price target and Buy rating on Micron. JMP Securities analyst Alex Gauna wrote that the deal would be logical for Tsinghua, as it would allow the Chinese company to access leading edge process technology, enable it to deliver more complete system solutions, and give it access to 3D NAND technology. The analyst, who believes that other Chinese companies may make competing bids for Micron, finds it difficult to believe that Micron would accept an offer more than 5%-10% below its 52-week high of $36.50. Piper Jaffray analyst Ruben Roy countered 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 have 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 Roy, who kept an Overweight rating on Micron. Similarly, Cowen analyst Timothy Arcuri wrote that the $21 per share price wouldn't make sense for Micron's shareholders, since it's barely above the estimated replacement cost of the company's capacity. The analyst indicated that he does not believe that Tsinghua would actually make the deal and he thinks that the U.S. Department of Justice would not approve the deal if it does get offered. WHAT'S NOTABLE: In a separate note, Summit's Sundarararjan, noting that Intel (INTC) has a 20% stake in Tsinghua. contended that the U.S. chip giant probably "midwifed" Tsinghua's offer for Micron. The analyst says that Intel "carries a lot of weight" with the U.S. Department of Justice and he believes that the DOJ could approve the deal. PRICE ACTION: In morning trading, Micron jumped 11% to $19.60. Several other semi chip related stocks were also rising, with SanDisk (SNDK) gaining 4%, Advanced Micro Devices (AMD) advancing 3% and Atmel (ATML) adding 2%.
09:20 EDTSNDKOn The Fly: Pre-market Movers
HIGHER: Natural Health Trends Corp. (NHTC), up 16.2% following second quarter guidance... Transgenomic (TBIO), up 14% after launching genetic test for Leukodystrophy diagnosis... Biocept (BIOC), up 12.4% after launching diagnostic assay for BRAF mutations in melanoma patients... Micron (MU), up 13.1% after WSJ reports that Tsinghua made $23B acquisition offer... SanDisk (SNDK) and AMD (AMD) are up 3.8% and 3.1%, respectively, following reports of Tsinghua offer to Micron... GoPro (GPRO), up 3.2% after being upgraded to Overweight from Equal Weight at Barclays. DOWN AFTER EARNINGS: Wells Fargo (WFC), down 1%... JPMorgan (JPM), down fractionally. ALSO LOWER: Vince Holding (VNCE), down 16.3% after being downgraded to Market Perform from Outperform at William Blair... Tonix Pharmaceuticals (TNXP), down 8.3% after 2.3M share Spot Secondary priced at $7.50... Spirit Airlines (SAVE), down 7.4% after pricing pressure leads to reduced fiscal 2015 margin view... Orbitz Worldwide (OWW), down 2.8% after being downgraded to Sell from Neutral at UBS.
08:32 EDTSTXSeagate price target lowered to $56 from $65 at Pacific Crest
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08:07 EDTSTXSeagate extends ClusterStor alliance with HP
Seagate (STX) said it has extended its alliance agreement with computing leader HP (HPQ) to equip its high performance computing solutions with ClusterStor scale-out storage capabilities.
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