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Stock Market & Financial Investment News

News Breaks
April 1, 2014
10:20 EDTSTX, CVLT, WDC, FIO, SNDKData vendors could benefit from cloud expansion, Pac Crest says
Suppliers of data storage products - including SanDisk (SNDK), Western Digital (WDC) and Seagate (STX) - could benefit from increased spending on cloud storage, research firm Pacific Crest contended. WHAT'S NEW: Recent price cuts by companies that provide cloud storage indicate that these companies are looking to add many new customers, Pacific Crest wrote in a note to investors earlier today. Companies that supply products used by these cloud storage providers could benefit from this trend, the analyst said. Among the suppliers that Pacific Crest thinks could benefit are Western Digital and Seagate, which provide network storage devices. Other companies that could benefit from increased cloud storage sales, according to the firm, are SanDisk, which provides flash memory storage products. Fusion-io (FIO), which provides solutions that accelerate databases and cloud computing, and CommVault (CVLT), which develops data and information management software. Pacific Crest recommended that investors buy all the stocks named. PRICE ACTION: In early trading, SanDisk rose 2% to $82.80, Western Digital gained 1.2% to $93, Seagate climbed 1.4% to $57, Fusion-io advanced 2.2% to $10.75, and CommVault added 1.75% to $66.
News For SNDK;WDC;STX;FIO;CVLT From The Last 14 Days
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December 17, 2014
10:14 EDTWDC, STXHP best way to play coming PC sales outperformance, Citi says
Sales of PCs will be at least flat next year, before growing slightly in 2016 and 2017, Citigroup wrote in a note to investors today. The firm identified HP (HPQ) as the best way to play better than expected PC sales. WHAT'S NEW: Although many believe that PCs will become extinct, there are several reasons why sales of personal computers will begin growing again, Citi analyst Jim Suva contended. Sales of commercial PCs in emerging markets should increase over the long-term, as those PCs are aging, according to Suva. He estimated that commercial PCs in emerging markets account for 27% of the total PC market. Meanwhile, tablets were supposed to replace PCs, but tablet sales growth slowed to just 8% this year, indicating that tablets are becoming less of a threat to PCs, he wrote. Additionally, some believe that PC demand was inflated by a rush to replace computers running Microsoft's (MSFT) Windows XP operating system this year after the company stopped supporting XP, but Suva believe that PC demand growth in 2014 was more driven by a need to buy new computers following a lull in growth in 2012-2013 than by the XP situation. As a result, the analyst estimates that the XP phenomenon will only reduce next year's PC growth by 1%, versus the 3%+ reduction that investors fear. HP is the best way to play the PC rebound, wrote Suva, who raised his price target on the company's shares to $46 from $40 and kept a Buy rating on the stock. WHAT'S NOTABLE: Suva raised his price target on hard disk drive maker Western Digital (WDX) to $125 from $110 and on its competitor, Seagate (STX), to $74 from $70, as he noted that the companies obtain about 50% of their revenue from PCs. He kept Buy ratings on both names. PRICE ACTION: In early trading, Hewlett-Packard gained 2.7% to $38.32, Western Digital rose 1.7% to $106.30, and Seagate climbed 1% to $63.89.
06:25 EDTWDC, STXWestern Digital price target raised to $125 from $110 at Citigroup
Citigroup raised its price target for Western Digital (WDC) shares to $125 on expectations PCs will return to positive growth in 2016-2017. Citi believes Western Digital will benefit if its thesis on PCs proves correct. It also raised its price target for Seagate (STX) shares to $74 from $70. Citi keeps a Buy rating on both stocks.
December 16, 2014
08:09 EDTWDCWestern Digital story remains under-appreciated, says Brean Capital
Brean Capital believes the enterprise value/free cash flow valuation for Western Digital remains under-appreciated. The firm sees an improving product mix and ongoing margin expansion and believes the company's acquisition of Skyera is a positive. Brean Capital reiterated its Buy rating and $125 price target on Western Digital shares.
December 15, 2014
10:00 EDTSNDKOn The Fly: Analyst Upgrade Summary
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08:56 EDTWDCWestern Digital announces HGST to acquire Skyera
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08:14 EDTSNDKSanDisk upgraded to Buy from Hold at Summit Research
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December 11, 2014
10:13 EDTCVLTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARIAD (ARIA) downgraded at Credit Suisse... AbbVie (ABBV) downgraded to Equal Weight from Overweight at Morgan Stanley... Aimco (AIV) downgraded to Hold from Buy at KeyBanc... Anglo American (AAUKY) downgraded to Underperform from Neutral at Exane BNP Paribas... Approach Resources (AREX) downgraded at Sterne Agee... CommVault (CVLT) downgraded to Neutral from Outperform at Macquarie... Fifth Street Senior (FSFR) downgraded to Perform from Outperform at Oppenheimer... Harmonic (HLIT) downgraded to Neutral from Buy at Sidoti... Macerich (MAC) downgraded to Hold from Buy at Deutsche Bank... Newell Rubbermaid (NWL) downgraded to Outperform from Strong Buy at Raymond James... Olin Corp. (OLN) downgraded at Longbow... Penn West (PWE) downgraded to Underperform from Neutral at BofA/Merrill... Prudential plc (PUK) downgraded to Neutral from Buy at Nomura... Semiconductor Manufacturing (SMI) downgraded to Hold from Buy at Jefferies... Suncor (SU) downgraded to Neutral from Buy at BofA/Merrill... Talisman Energy (TLM) downgraded to Underperform from Neutral at BofA/Merrill... Thompson Creek (TC) downgraded to Hold from Buy at Deutsche Bank... Toll Brothers (TOL) downgraded to Underperform from Sector Perform at RBC Capital... Travelers (TRV) downgraded to Neutral from Buy at UBS... United Therapeutics (UTHR) downgraded at Credit Suisse... Vera Bradley (VRA) downgraded to Underperform from Neutral at Sterne Agee.
07:02 EDTCVLTCommVault downgraded to Neutral from Outperform at Macquarie
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December 10, 2014
08:09 EDTWDCWestern Digital price target raised to $129 from $124 at Jefferies
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December 9, 2014
07:41 EDTSTXBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link
07:07 EDTWDCWestern Digital resolves two non-compliance matters with MOFCOM
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December 8, 2014
07:28 EDTSTXFBN Securities to hold a bus tour
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