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Stock Market & Financial Investment News

News Breaks
June 11, 2014
12:27 EDTSYNA, AAPL, SNDK, MU, ULTA, TBBK, OREXOn 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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July 11, 2014
10:17 EDTAAPLFirm raises Apple price target on iPhone 6 optimism
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09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
09:31 EDTSNDKSanDisk mentioned cautiously at ITG Research
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09:25 EDTSNDKSanDisk remains a favorite idea at Cleveland Research
Cleveland Research continues to see upside to consensus estimates for SanDisk through 2015. The firm said demand exceeds supply, allowing SanDisk to maximize balanced profitability. Shares are Buy rated.
09:14 EDTSNDK, AAPLSanDisk has several positive catalysts, says Sterne Agee
Sterne Agee expects SanDisk (SNDK) to benefit from several developments, including a strengthening high margin retail market and new Apple (AAPL) products that will include embedded MCP and SSDs. The firm expects SanDisk to report solid June quarter results and guide to a stronger September quarter. It keeps a Buy rating.
08:49 EDTAAPLJune CIO survey indicates strong 2H, says Morgan Stanley
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08:25 EDTAAPLApple price target raised to $112 from $102 at Canaccord
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07:26 EDTAAPLApple, Coke on board with Obama 'SupplierPay' initiative, WSJ says
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07:08 EDTSNDKSanDisk July volatility elevated at 58 into Q2 and outlook
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07:04 EDTAAPLAnalyst Ming-Chi Kuo: iWatch to enter mass production in November, 9to5Mac says
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July 10, 2014
16:00 EDTAAPLOptions Update; July 10, 2014
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14:14 EDTAAPLChinese telecom companies to cut marketing spending, WantChinaTimes says
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10:27 EDTAAPLInvenSense likely won designs across Apple product lines, says Rosenblatt
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09:56 EDTAAPLApple reportedly orders 68M iPhone 6 units, Mac Rumors reports
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09:36 EDTAAPLActive equity options trading on open
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08:10 EDTAAPLMorgan Stanley's Vintage Values 2015 list selected
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07:54 EDTAAPLTSMC begins shipping microprocessors to Apple, WSJ reports
TSMC (TSM) has begun shipping microprocessors to Apple (AAPL) for use in smartphones and tablets, reports the Wall Street Journal. According to people familiar with the matter, TSMC began shipping the microprocessors in Q2 and agreed to work together on more advanced chips next year. Reference Link
06:26 EDTAAPLTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:18 EDTAAPLIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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05:57 EDTAAPLApple wins EU trademark for store layouts, AP reports
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