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Stock Market & Financial Investment News

News Breaks
June 11, 2014
11:24 EDTSYNA, AAPLSynaptics jumps after acquiring provider of chips to Apple
Shares of Synaptics (SYNA) are jumping after the company confirmed last night that it had agreed to buy Renesas SP Drivers. Synaptics develops gesture and touch sensing technologies for smartphones. Renesas SP Drivers supplies display driver chips for Apple's (AAPL) iPhone. WHAT'S NEW: Synaptics announced that it would buy the outstanding shares of Renesas SP Drivers for $475M. Synaptics said the deal would increase its potential market by 1.5x and advance its touch and display driver integration initiative. Renesas SP Drivers generated about $650M in revenue in the year ending in March, Synaptics reported. Synaptics last night also raised its fourth quarter revenue guidance to $300M-$310M from $275M-$295M. ANALYST REACTION: In a note to investors earlier today, Craig-Hallum analyst Anthony Stoss wrote that the deal is positive for Synaptics, as the transaction will help the company rapidly scale and accelerate the deployment of its fully integrated touch display driver solutions. The deal will also help Synaptics expand its potential market, according to Stoss, who raised his price target on the shares to $90 from $80 and reiterated a Buy rating on the stock. Meanwhile, John Vinh, an analyst at research firm Pacific Crest, called the acquisition "a game changer" for Synaptics in a note to investors earlier today. By integrating display drivers into its touch controller, Synaptics can position itself for additional sales to Apple and other companies, Vinh believes. The analyst raised his price target on Synaptics to $110 from $80 and kept an Outperform rating on the stock. WHAT'S NOTABLE: Reuters reported on May 27, citing sources, that Japan's Renesas planned to sell its 55% stake in the unit, which the news service said is the sole supplier of display driver chips for the iPhone, to Synaptics. Apple had also been in talks about a possible purchase of the unit, but the sources said those talks failed to progress, according to Reuters. PRICE ACTION: In late morning trading, Synaptics jumped $14.64, or 22%, to $81.14.
News For SYNA;AAPL From The Last 14 Days
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July 15, 2014
09:40 EDTAAPLApple 'iWatch' said to debut in two sizes, three models, AppleInsider says
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09:39 EDTSYNASynaptics mentioned cautiously at OTR Global
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09:38 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB JPM TSLA
06:43 EDTAAPLApple reportedly considering Carney for PR head position, Re/code reports
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06:20 EDTAAPLBoy's rash linked to possible exposure to nickel found in iPad, WSJ reports
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July 14, 2014
16:30 EDTAAPLOn The Fly: Closing Wrap
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16:00 EDTAAPLOptions Update; July 14, 2014
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12:21 EDTAAPLOn The Fly: Midday Wrap
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10:18 EDTAAPLGT Advanced retreats after downgrade citing production concerns
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10:00 EDTAAPLOn The Fly: Analyst Upgrade Summary
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09:36 EDTAAPLActive equity options trading on open
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09:16 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
09:14 EDTAAPLApple's iCloud Mail experiencing an outage for some users
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08:04 EDTAAPLInvenSense should be bought ahead of results, says Pacific Crest
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07:41 EDTAAPL, AAPLGT Advanced 's 2014 guidance at risk, says CLSA
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07:24 EDTAAPLApple may not release 5.5-inch 'phablet' iPhone this year, Apple Insider reports
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07:24 EDTAAPLApple estimates raised above consensus at Morgan Stanley
Morgan Stanley's survey results suggests June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24 from $1.18, vs. consensus of $1.22 and 2015 EPS estimate to $2.33 from $2.25, 11% above consensus. The analyst added iWatch estimates into its model and sees unit sales in the 30M-60M range for the firm 12 months. Shares are rated Overweight with a $110 price target, up from $98.57.
06:40 EDTAAPLApple responds to China broadcaster's privacy charges, China Daily says
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06:08 EDTAAPLABI Research: Over 24M cars to be fitted with Apple CarPlay, DigiTimes says
ABI Research said that over 24M cars will be fitted with Apple (AAPL) CarPlay in 2019, reports DigiTimes. ABI Reserch said that the uptake in MirrorLink will also be fairly significant, but predicts more cars will be fitted with CarPlay. It cites several car makers to have the capabilities, including Ford (F), BMW, Audi, Mercedes, Jaguar/Land Rover, Toyota (TM), Nissan (NSANY), and Volvo (VOLVY). Reference Link
05:44 EDTAAPLApple upgraded to Overweight from Equal Weight at Barclays
Barclays upgraded its rating on Apple (AAPL) shares to Overweight citing its channel checks which indicate near-term upside to consensus estimates and strong new products into 2015. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share. Barclays raised its price target for Apple shares to $110 from $95. The stock closed Friday at $95.22.
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