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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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October 8, 2014
09:38 EDTAAPLActive equity options trading on open
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08:20 EDTAAPLQualcomm opportunity at Xiaomi almost rivals iPhone, says FBR Capital
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06:57 EDTAAPLApple's iPhone 6 Plus more popular than iPhone 6, WantChinaTimes says
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06:13 EDTAAPLNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
06:10 EDTAAPLQuantom begins small-volume production of 12-inch Macbook Air, DigiTimes says
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05:54 EDTAAPLTeen interest in Apple Watch 'tepid,' says Piper Jaffray
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October 7, 2014
17:05 EDTAAPLApple iPhone gains market share among teens, says Piper
Piper Jaffray analyst Gene Munster concluded from Piper's 2014 Teen Survey that interest in Apple's technology remained strong among teens. According to the survey, teen iPhone ownership rose to 67% from 61% in the Spring, and iPad ownership among teens that owned a tablet remained at 66%, the same as in the Spring. However, teen interest in the Apple Watch remained "tepid," as only 16% of teens would be interested in an Apple Watch at $350. Shares are Overweight rated with a $120 price target.
16:00 EDTAAPLOptions Update; October 7, 2014
iPath S&P 500 VIX Short-Term Futures up 2.16 to 32.24 Option volume leaders: AAPL TSLA TWTR AMZN FB VZ AA HTZ NFLX PBR according to Track Data.
15:01 EDTAAPLDunkin Donuts testing mobile ordering system, considering Apple Pay, NRN reports
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14:46 EDTAAPLApple supplier GT Advanced recovers some of yesterday's losses
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14:00 EDTAAPLGT Advanced sapphire not used for iPhones because 'proved brittle,' WSJ says
Apple's (AAPL) decision to choose glass screens over GT Advanced's (GTAT) sapphire screens for the iPhone 6 was because of "tests in which the synthetic sapphire proved brittle, cracking when phones were dropped from various heights and angles," The Wall Street Journal reported last night, citing people familiar with the matter. Apple's decision to withhold GT Advanced's expected $139M payment was the tipping point for GT Advanced to declare bankruptcy, people familiar with the matter added. Reference Link
10:29 EDTAAPLGT Advanced lists Apple, Airgas, GrafTech, Ultra Clean among top 30 creditors
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10:17 EDTAAPLSamsung outlook miss weighs on suppliers
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09:36 EDTAAPLActive equity options trading on open
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08:46 EDTAAPLFireEye announces targeted attack protection for Apple platform
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08:15 EDTAAPLApple leaks point to iPad Air 2 with Touch ID, gold color, Michael Report says
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06:14 EDTAAPLSamsung may find difficulty competing with TSMC for Apple chips, DigiTimes says
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06:11 EDTAAPLApple adjusts supply ratio for iPhone 6 and iPhone 6 Plus, DigiTimes reports
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06:09 EDTAAPLApple 12-inch tablet may integrate both Mac OS and iOS, DigiTimes reports
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06:06 EDTAAPLApple reinstated with a Buy at BofA/Merrill
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