|April 1, 2014|
|10:20 EDT||SNDK, STX, CVLT, WDC, FIO||Data 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
|December 1, 2015|
|08:36 EDT||CVLT||Commvault and Laitek announce strategic partnership|
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|08:13 EDT||STX||Seagate, Newisys demonstrate flash storage architecture capable of 1TB/s|
Seagate (STX) and Newsisys, a division of Sanmina (SANM), announced that 21 Newisys NSS-2601 with dual NSS-HWxEA Storage Server Modules deployed with Seagate's newest SAS 1200.2 SSD drives can be combined in a single 42U rack to achieve block I/O performance of 1TB/s with 5PB of storage. Each Newisys 2U server with 60 Seagate SSDs is capable of achieving bandwidth of 49GB/s. "This is one of the highest storage densities ever achieved in the industry, and holds the potential for new breakthroughs in storage system performance," said Brett Pemble, VP and general manager of flash products, Seagate. "Our partnership with Newisys enables us to continue to innovate with how storage is architected."
|07:48 EDT||STX||Nasdaq to hold a conference|
33rd OMX Investor Program is being held in London, England on December 1-2.
|November 29, 2015|
|12:57 EDT||WDC, STX||High-yield tech stocks could offer significant returns, Barron's says|
Growth-focused investors have piled into Facebook (FB), Alphabet (GOOG, GOOGL), Salesforce (CRM), and others, but if the "current situation" changes, high-yield stocks with compelling valuations could grab some of the spotlight, Barron's contends in a feature story. The publication names Seagate (STX), Garmin (GRMN), Qualcomm (QCOM), Hewlett-Packard (HPQ), IBM (IBM), and Western Digital (WDC) as attractive plays, noting that their dividends -- ranging 3.2% to 7.3% -- look secure and offer nice rewards for those willing to wait for potential turnarounds or strategic transactions. Reference Link
|November 20, 2015|
|11:45 EDT||SNDK||Nimble Storage plummets to 52-week low after results, guidance trail estimates|
Shares of Nimble Storage (NMBL), a flash storage solutions provider, are plunging after the company's third quarter results and fourth quarter outlook significantly trailed analysts' consensus estimates. WHAT'S NEW: Thursday night after the close, Nimble Storage reported Q3 adjusted earnings per share of (14c) and revenue of $80.7M, well below the consensus of (8c) and $87.44M, respectively. Q3 non-GAAP gross margin was 66.9% compared to 67.1% in the prior year period. GUIDANCE: Looking ahead to Q4, Nimble Storage forecast adjusted EPS of (13c)-(11c) and revenue of $87M-$90M, far below the estimates of 0c and $99.2M respectively. EXECUTIVE COMMENTARY: Suresh Vasudevan, Chief Executive Officer of Nimble Storage, noted that the company's enterprise investments were "taking longer to become fully productive" and that the shift in investment from commercial to enterprise business "impacted its commercial revenue growth more than they anticipated." Chief Financial Officer Anup Singh said, "We plan to make some key investments to drive growth that will constrain short-term profitability. We believe our planned investments will improve revenue growth as well as operating leverage over time. We expect that it will take several quarters to realize the impact of these investments and have factored that into our guidance for Q4 FY16." ANALYST REACTION: Friday morning there was a wealth of analyst commentary, with eleven separate firms downgrading Nimble Storage. Conversely, Piper Jaffray analyst Andrew Nowinski said Nimble Storage was oversold following the company's Q3 miss and push out of its break-even point beyond 2016. Estimates and the stock's valuation have been de-risked, Nowinski told investors in a post-earnings research note. He kept an Overweight rating on the name and lowered his price target for Nimble to $20 from $37. Jefferies analyst James Kisner recommended using the significant pullback in shares of Nimble Storage as a buying opportunity. Despite the missed Q3 revenue and disappointing Q4 guidance, Nimble's hybrid storage technology remains well differentiated and the total addressable market is large, Kisner told investors in a post-earnings research note. He cut his price target for shares to $20 from $33 and kept a Buy rating on the name. After Nimble reported weaker than expected results, Sterne Agee CRT still believes that the company has "a healthy franchise" in the $75,000-$125,000 price range. The firm continues to believe that the company's Hybrid product is differentiated from competing systems. It kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Nimble Storage fell $10.37, or over 50%, to $10.02 on more than seven times its average daily trading volume. As the session unfolds, the stock continues to hit fresh 52-week lows. Over the past 12 months, the stock is down approximately 62%. OTHERS TO WATCH: Other flash storage solutions providers include Pure Storage (PSTG), down 13%, NetApp (NTAP), up fractionally, SanDisk (SNDK), down fractionally, and Violin Memory (VMEM) down over 6%.
|November 19, 2015|
|10:00 EDT||STX||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: Dick's Sporting (DKS) upgraded to Buy from Neutral at Monness Crespi... Fairchild (FCS) upgraded to Neutral from Underperform at Credit Suisse... Fiesta Restaurant (FRGI) upgraded to Strong Buy from Outperform at Raymond James... General Dynamics (GD) upgraded to Buy from Hold at Argus... Genomic Health (GHDX) upgraded to Outperform from Market Perform at Cowen... National Grid (NGG) upgraded to Outperform from Sector Perform at RBC Capital... ON Semiconductor (ON) upgraded to Buy from Neutral at Citi... Papa John's (PZZA) upgraded to Buy from Neutral at Sidoti... QEP Resources (QEP) upgraded to Buy from Neutral at Goldman... Seagate (STX) upgraded to Buy on selloff, dividend yield at Craig-Hallum... Sunoco (SUN) upgraded to Outperform at Credit Suisse... Tetraphase (TTPH) upgraded to Buy from Neutral at SunTrust... Wendy's (WEN) upgraded to Conviction Buy from Neutral at Goldman.
|07:28 EDT||STX||Seagate upgraded to Buy on selloff, dividend yield at Craig-Hallum|
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|November 18, 2015|
|10:29 EDT||SNDK||Options with increasing implied volatility|
Options with increasing implied volatility: TERP CSC SGMS RH BBRY ULTA SNDK ORCL NKE VNET
|08:19 EDT||STX, SNDK||RBC Capital to hold a tour|
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|November 17, 2015|
|11:10 EDT||WDC||Micron the most likely target for Tsinghua stake, says Macquarie|
Macquarie analyst Deepon Nag highlighted yesterday that Tsinghua Unigroup Chairman Zhao Weiguo told Reuters in an interview that his company was in talks with a U.S. semiconductor company, and that a deal could be announced as early as the end of the month. Zhao stated that a majority stake was unlikely due to regulatory concerns. Given recent moves by China in the memory market, Micron (MU) is the most likely target for Tsinghua, Nag wrote in a note to investors. Tsinghua recently announced a 15% stake in Western Digital (WDC) at a 33% premium to the company's prior closing price. A similar premium for Micron would lead to a 15% stake in Micron for $20 per share, which would equal $3.4B, the analyst points out. Shares of Micron are up 46c, or 3%, to $15.35 in late morning trading. Nag has an Outperform rating on Micron with a $30 price target.