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Stock Market & Financial Investment News

News Breaks
August 20, 2014
11:09 EDTTWGP, CMLP, HAIN, BXE, FOLD, NM, CIG, FCS, CODE, INFIHigh option volume stocks
High option volume stocks: TWGP CODE FCS CIG NM FOLD BXE HAIN CMLP INFI
News For TWGP;CODE;FCS;CIG;NM;FOLD;BXE;HAIN;CMLP;INFI From The Last 14 Days
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October 22, 2014
10:18 EDTHAINBoulder Brands tumbles after lowering profit outlook
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October 20, 2014
14:29 EDTCODEEarnings Preview: Texas Instruments down 9% over last three months
Semiconductor maker Texas Instruments (TXN) is expected to report third quarter earnings after the close on Monday, October 20, with a conference call scheduled for 5:30 pm ET. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $3.46B. The consensus range is 66c-74c for EPS on revenue of $3.44B-$3.5B, according to First Call. Along with its last earnings report, Texas Instruments guided to Q3 EPS of 66c-76c on revenue of $3.31B-$3.59B. LAST QUARTER: On July 21, Texas Instruments reported second quarter EPS of 62c, which was higher than analysts' consensus of 59c. The company's revenue of $3.29B exceeded analysts' expectation of $3.27B. Texas Instruments noted that the restructuring changes which occurred in Q2 are positioned to be nil in Q3 and noted that it anticipated utilization in Q3 to remain consistent with Q2 levels. NEWS: On September 18, Texas Instruments increased its quarterly dividend by 13% to 34c. WHAT'S NOTABLE: After the close on October 9, Microchip (MCHP), which develops microcontroller and analog semiconductors, said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future." STREET RESEARCH: Analysts were fairly quiet on Texas Instruments during the quarter. The day after the company issued its Q2 earnings report, Sterne Agee believed that Texas Instruments' commentary on 4G telecom, auto and industrial strength should be positive for Spansion (CODE). RBC Capital noted on the same day that Texas Instruments had "strong" Q2 results, particularly in its execution, while its operating margin leverage was "impressive. The firm maintained a $57 price target and Outperform rating on the stock. On July 24, Tigress Financial upgraded Texas Instruments to Neutral from Underperform. PRICE ACTION: Over the last three months, Texas Instruments' shares are down about 9%. Since October 10, the day after Microchip's warning on the industry correction it believes has begun, Texas Instruments shares are down over 3%. In afternoon trading before tonight's report, Texas Instruments was up 1.7% to $44.41.
07:10 EDTFOLDAmerican Society of Human Genetics to hold annual meeting
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07:04 EDTINFIInfinity Pharmaceuticals coverage resumed with a Hold at Stifel
October 19, 2014
19:46 EDTFOLDAmicus announces additional positive data from from Fabry monotherapy study
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October 16, 2014
11:36 EDTCODEOptions with increasing implied volatility
Options with increasing implied volatility: UVXY NQ PVA SVXY VXX SUNE CIE COV ZU CODE
07:41 EDTFCSFairchild sees Q4 revenue $340M-$360M, consensus 367.53M
Fairchild CFO Mark Frey stated, "We expect sales to be in the range of $340M-$360M for Q4. We expect adjusted gross margin to be 33%-34% due primarily to lower sales and the impact of reduced factory loadings in the prior quarter. We anticipate R&D and SG&A spending to be $95M-$97M. The adjusted tax rate is forecast at 12% plus or minus 3 percentage points for the quarter. Consistent with our usual practices, we are not assuming any obligation to update this information, although we may choose to do so before we announce Q4 results."
07:41 EDTINFIInfinity reports duvelisib Phase 2a primary endpoint not met
Infinity Pharmaceuticals announced encouraging topline data from its Phase 2a exploratory study of duvelisib, or IPI-145. Data from this randomized, double-blind, placebo-controlled, cross-over study demonstrated that duvelisib was well tolerated and met several secondary and exploratory endpoints in an allergen challenge study. Clinical improvement was observed in the late-phase asthmatic response FEV1 among patients who received duvelisib administered at the highest dose tested, 25 mg twice daily for five days, however the primary endpoint of the study was not met as it did not reach statistical significance. Multiple secondary clinical endpoints measuring improvements in lung function following duvelisib administration were achieved with statistical significance and were associated with changes in key cytokines and chemokines involved in the asthmatic response. Taken together, these data demonstrate early proof-of-activity in this allergen challenge study. Infinity expects to present the final data in a peer-reviewed setting after all analyses are complete. In addition, the company anticipates determining its next steps for development of PI3K-delta,gamma inhibitors in inflammation after evaluating the results from the ASPIRA study in rheumatoid arthritis, which are expected by the end of 2014.
07:39 EDTFCSFairchild reports Q3 adjusted EPS 28c, consensus 21c
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October 15, 2014
13:01 EDTBXEOrange Capital raises stake in Bellatrix Exploration to 11.3% from 10.2%
08:09 EDTBXEBellatrix Exploration sees Q4 production averaging approximately 45,000 boe/d
Bellatrix recently completed a tuck-in acquisition of working-interests in the Company's core Ferrier area in West Central Alberta, extending the Company's Cardium light oil resource play. The acquired assets included current low decline rate net production of approximately 300 boe/d. Bellatrix has entered into a farmin arrangement encompassing 12 gross sections of Mannville rights and 6 gross sections Cardium rights in the Ferrier area of West Central Alberta. Under the arrangement, Bellatrix has committed to drill a minimum of 6 wells into the Cardium interval and 6 wells into the Mannville interval. By drilling these wells, Bellatrix will earn the farmor's entire working interest in either the Cardium or Mannville for each section drilled, but reserving a 15% gross overriding royalty payable on Mannville wells and a 7.5% to 12% gross overriding royalty payable on Cardium wells to the farmee. As a result of an underground fire that occurred in downtown Calgary on October 11, 2014, the Company's corporate head office is temporarily without power and therefore closed. City officials currently estimate the outage will last until Thursday, October 16, 2014. As previously announced, two third-party operated gas processing facilities served Bellatrix with notice of their requirement to shut in for 3 days and 5 days, respectively, to facilitate necessary maintenance during the month of September. As a result, Bellatrix announced a reduction to third quarter production guidance on September 11, 2014. The first facility was shut in for 7 days, curtailing the Company's production by 2,000 boe/d gross during the shut in period while the second facility was offline for 19 days resulting in the additional loss of 16,800 boe/d gross during the shut in period. After giving effect to the aforementioned and continued tightness in available processing capacity, Bellatrix's daily production averaged approximately 38,000 boe/d in the third quarter of 2014. This represents a 5% increase over second quarter 2014 production volumes of 36,342 boe/d and a 74% increase over third quarter 2013 volumes of 21,852 boe/d. Currently fourth quarter production is estimated to average approximately 45,000 boe/d. The Company plans to employ 8 rigs throughout the fourth quarter of 2014.
08:09 EDTBXEBellatrix Exploration sees 2014 average daily production of 38,500 boe/d
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October 14, 2014
08:55 EDTCODEBarclays top ideas in U.S. Semiconductors on the pullback
Barclays' top U.S. Semiconductor ideas to buy on the pullback are Avago (AVGO), Cavium (CAVM), Spansion (CODE), NXP Semiconductors (NXPI) and Xilinx (XLNX).
October 13, 2014
17:15 EDTCMLPCrestwood Midstream says Q3 average natural gas gathering volumes up 5%
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13:05 EDTINFIInfinity Pharmaceuticals management to meet with ISI Group
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October 10, 2014
13:08 EDTFCSOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and saw several swings throughout the morning. Near midday the averages were mixed, with the Dow a bit higher and the Nasdaq weighed down by weakness across the semiconductor sector. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. COMPANY NEWS: Shares of a number of semiconductor makers, including industry giant Intel (INTC), were sharply lower after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.” Near noon, Microchip dropped 11%, Intel fell almost 4%, Texas Instruments (TXN) slipped over 6%, Micron (MU) dropped 6% and Fairchild (FCS) declined 12%. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied 35% after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Among the noteworthy losers were a number of companies that, similarly to Microchip, warned that their quarterly results will likely miss expectations, including Procera Networks (PKT), which plunged 34%, Manitowoc (MTW), which fell 9%, and Sizmek (SZMK), which dropped 21%. INDEXES: Near midday, the Dow was up 38.02, or 0.23%, to 16,697.27, the Nasdaq was down 35.89, or 0.82%, to 4,342.45, and the S&P 500 was up 0.42, or 0.02%, to 1,928.63.
10:29 EDTFCSMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.” ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
October 9, 2014
07:59 EDTCMLPCrestwood Equity Crestwood Midstream weakness overdone, says Wells Fargo
After Crestwood Equity Partners LP(CEQP) and Crestwood Midstream Partners LP(CMLP) underperformed their broader group over the past month, Wells Fargo thinks the underperformance was driven by Quicksilver Resource's (KWK) financial struggles, concerns regarding gas storage fundamentals as it impacts Tres Palacios, and a decline in crude prices driving reduced activity in the Bakken. The firm believes that these concerns are legitimate, but it does not view them as new and calls the weakness in the stocks overdone. It keeps a Market Perform rating on Crestwood Equity Partners and an Outperform rating on Crestwood Midstream Partners.
07:08 EDTCODESpansion, Integrated Silicon announce plans to develop HyperRAM products
Spansion (CODE) and Integrated Silicon (ISSI) announced plans to develop HyperRAM products based on the Spansion HyperBus interface, which improves performance while reducing the number of pins. Both companies will have rights to sell HyperRAM products under a long-term supply agreement fulfilled by ISSI.
October 8, 2014
15:03 EDTFOLDUCLA researchers report positive results in mouse model of Parkinson’s
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