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Stock Market & Financial Investment News

News Breaks
June 11, 2014
12:27 EDTULTA, AAPL, OREX, MU, SYNA, TBBK, SNDKOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, though the Nasdaq had almost made its way back to unchanged near noon. Equity futures were weak during the pre-market trading session, leading to a lower open for the broader market. The averages found a level a short time after the open, from where they have been mostly drifting, with the Dow weakening a bit and the Nasdaq firming. The oil inventory numbers released mid-morning were generally in-line with forecasts and had little effect on the market. Of note on the political front, House Majority Leader Eric Cantor became the first sitting majority leader to ever lose in a primary after Tea Party activist David Brat surprisingly, and handily, beat Cantor in Virginia. ECONOMIC EVENTS: In the U.S., the federal budget is due to be reported at 2:00 pm ET, with the consensus forecast calling for a deficit of $131B. Also, the World Bank lowered its forecast for U.S. economic growth this year to 2.1%, which is down from its previous 2.8% growth expectation. COMPANY NEWS: Shares of chipmaker Synaptics (SYNA) surged 25% after the company confirmed last night that it had agreed to buy Renesas SP Drivers, which supplies display driver chips for Apple's (AAPL) iPhone. Research firm Pacific Crest called the acquisition, which had been speculated about previously in media reports, "a game changer" for Synaptics, as the firm believes that Synaptics can position itself for additional sales to Apple and other companies by integrating display drivers into its touch controller. MAJOR MOVERS: Among the notable gainers was beauty supply store operator Ulta Salon (ULTA), which jumped 14% after reporting better than expected Q1 results and reaffirming its FY14 guidance. Also higher were Micron (MU), which rose more than 5%, and SanDisk (SNDK), which advanced 3%, after BofA Merrill Lynch upgraded both of their stocks by two notches to Buy from Underperform in notes to investors this morning. Among the noteworthy losers was The Bancorp (TBBK), which was downgraded to Neutral at BTIG and dropped 28% after the company's disclosure of an FDIC order requiring restrictions on certain activities at its bank subsidiary. Also lower was Orexigen (OREX), which fell more than 16%, after announcing that the FDA extended the review period for NB32, the company's investigational medication being evaluated for weight loss, by three months. INDEXES: Near noon, the Dow was down 82.42, or 0.49%, to 16,863.50, the Nasdaq was down 1.71, or 0.04%, to 4,336.28, and the S&P 500 was down 5.17, or 0.27%, to 1,945.62.
News For SYNA;AAPL;SNDK;MU;ULTA;TBBK;OREX From The Last 14 Days
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December 5, 2014
09:14 EDTULTAUlta Salon price target raised to $150 from $130 at Credit Suisse
Credit Suisse raised Ulta Salon's price target to $150 citing the solid Q3 beat and raise. The firm remains bullish and reiterates its Outperform rating given market share gains, comp beats, new store openings, and accelerated brand wins.
09:04 EDTSYNASynaptics downgraded to Buy from Strong Buy at Feltl
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08:54 EDTULTAUlta Salon price target raised ot$135 on strong Q3 results at Morgan Stanley
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08:29 EDTULTAUlta Salon price target raised to $145 from $135 at RW Baird
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07:45 EDTAAPLConsensus on Apple iPhone units could be low, says UBS
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06:41 EDTAAPLApple questions validity of plaintiffs in iPod case, NY Times says
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06:21 EDTMUDRAMeXchange: DRAM spot prices hit 7-month low, DigiTimes says
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06:03 EDTAAPLiOS mobile traffic shows iPhone 6 launch strong, says Piper Jaffray
Piper Jaffray says that according to Quantcast data, Apple's (AAPL) iOS mobile traffic share increased from 60.6% at iPhone 6 launch to 61.4% nine weeks after launch, while Google's (GOOG) Android decreased from 38.4% to 37.5% in the same period. Piper views the iOS mobile traffic share as further evidence that the iPhone 6 launch in the U.S. is off to a strong start. It keeps an Overweight rating on Apple shares with a $135 price target.
06:00 EDTMUMicron management to meet with Wedbush
Meeting to be held in New York on December 8 hosted by Wedbush.
December 4, 2014
18:34 EDTULTA, SYNAOn The Fly: After Hours Movers
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16:21 EDTSYNASynaptics announces retirement of CFO Kathleen Bayless
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16:20 EDTSYNASynaptics raises Q2 revenue view to $440M-$460M from $415M-$450M
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16:09 EDTULTAUlta Salon FY14 EPS growth view in the low 20s% range, consensus $3.83
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16:06 EDTULTAUlta Salon sees Q4 EPS $1.21-$1.26, consensus $1.27
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16:04 EDTULTAUlta Salon reports Q3 EPS 91c, consensus 84c
Reports Q3 revenue $745.7M, consensus $734.03M. Reports comparable sales increased 9.5% compared to an increase of 6.8% in the third quarter of fiscal 2013. The 9.5% same store sales increase was driven by 5.4% growth in transactions and 4.1% growth in average ticket.
16:00 EDTAAPLOptions Update; December 4, 2014
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15:18 EDTULTANotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cooper Companies (COO), consensus $2.03; ULTA Salon (ULTA), consensus 84c; American Eagle Outfitters (AEO), consensus 22c; Five Below (FIVE), consensus 6c; Ambarella (AMBA), consensus 54c; Finisar (FNSR), consensus 25c; Smith & Wesson (SWHC), consensus 7c.
15:15 EDTULTAUlta Salon volatility elevated into Q3 and outlook
Ulta Salon December call option implied volatility is at 65, January is at 44, March is at 39; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today after the market close.
09:37 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL ALTR P BIDU AMZN TSLA X NFLX TWTR WMT
06:25 EDTMUPowertech Technology and Micron announce agreement for services in China
Powertech Technology and Micron Technology announced that they have entered into a series of agreements forming the basis of a long-term strategic relationship for assembly and packaging services in Xi'an, China. Under the agreements, Micron will complement its existing test and module manufacturing operations in the Xi'an High Tech Zone through the construction of a new assembly and packaging facility. Upon its completion, PTI will occupy the assembly facility and provide Micron with assembly and packaging services for a period of several years. Reference Link
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