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Stock Market & Financial Investment News

News Breaks
May 29, 2014
07:50 EDTSTX, AVGOSeagate to acquire LSI's flash businesses from Avago for $450M in cash
Seagate Technology (STX) and Avago Technologies Limited (AVGO) announced that they have entered into a definitive asset purchase agreement under which Seagate will acquire the assets of LSIís Accelerated Solutions Division and Flash Components Division from Avago for $450M in cash. In fiscal 2015, Seagate would expect the combination of its enterprise SSD product line and these SSD Controller families to generate revenues of at least $150M and be slightly accretive to the company gross margin with operating margin headwind of $30M-$40M. As Seagate drives operational synergies and leverages its SSD technology into its product portfolio, the company would expect the operating margin contribution from its SSD business to be neutral to positive in fiscal 2016 and beyond. The transaction is expected to close in the third quarter of calendar year 2014, subject to the satisfaction of customary closing conditions and the receipt of certain regulatory approvals, including those required by the Hart-Scott-Rodino Antitrust Improvements Act.
News For STX;AVGO From The Last 14 Days
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August 31, 2014
13:58 EDTSTXBrean Capital to hold a conference
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August 30, 2014
10:08 EDTAVGORF Micro Devices, Micron better play on Apple suppliers, Barron's says
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August 29, 2014
09:22 EDTAVGOOn The Fly: Pre-market Movers
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09:15 EDTAVGOAvago price target raised to $99 from $87 at RBC Capital
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08:38 EDTAVGOAvago price target raised to $90 from $80 at Deutsche Bank
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08:04 EDTAVGOAvago price target raised to $105 from $75 at Credit Suisse
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07:42 EDTAVGOAvago price target raised to $100 from $85 at Oppenheimer
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07:37 EDTAVGOAvago should be bought at current levels, says Pacific Crest
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07:32 EDTAVGOAvago price target raised to $95 from $83 at Canaccord
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August 28, 2014
18:13 EDTAVGOOn The Fly: After Hours Movers
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16:05 EDTAVGOAvago sees Q4 revenue up 18%-22%, consensus $1.42B
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16:04 EDTAVGOAvago reports Q3 EPS $1.26, consensus $1.06
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15:22 EDTAVGONotable companies reporting after market close
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11:41 EDTAVGOAvago technical comments before earnings
The shares have outperformed most indexes in the last three months, trading up over 8%. Price is also very close to the 52-week high and life high at $77.21. On stronger than expected positive news and guidance, the life high would be an easy reach from current levels. Without overhead resistance, a next likely upside target would be at the $80 to $85 area depending on the degree of surprise. If the news is not as bullish as sentiment in the name supposes, there is greater risk of a strong downside risk given the big advance the stock has made. In the year-to-date period price is up over 44.6%. On an increasing scale of disappointment, the following support levels could be tested as downside objectives: $73.15, $69.38, and $67.52. The $70 area has been strong support in the last several months as shares consolidated gains. A breakdown below that level could therefore precipitate further price weakness.
August 27, 2014
07:34 EDTAVGOAvago Q3 results likely to beat expectations, says Oppenheimer
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August 26, 2014
08:04 EDTSTXSeagate says shipping 8TB hard disk drives
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August 22, 2014
11:17 EDTAVGOPeregrine unlikely to receive competing bid, says Oppenheimer
Oppenheimer believes Peregrine (PSMI) is unlikely to receive a competing takeover bid to Murata's since Murata is Peregrine's largest customer and Avago (AVGO) and Skyworks (SWKS) are looking to diversify away from mobile. Opco thinks Murata may look to divest Peregrine's non-mobile business, and views Skyworks, RF Micro Devices (RFMD), Analog Devices (ADI), and M/A-Com Technology (MTSI) as logical buyers for the business.
August 21, 2014
17:00 EDTAVGOAvago files to sell $1B of 2% convertible senior notes due 2021
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09:00 EDTAVGOSeveral semi companies have positive read through from deal, says Sterne Agee
After Infineon (IFNNY) bought International Rectifier (IRF), Sterne Agee thinks the deal indicates that the shares ofother players in the sector - including Spansion (CODE), NXP Semiconductors (NXPI), and Avago (AVGO) - can rise further. The firm keeps Buy ratings on the latter three stocks.
August 19, 2014
06:29 EDTAVGOMorgan Stanley remains a buyer of Avago
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