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Stock Market & Financial Investment News

News Breaks
December 16, 2013
13:21 EDTVMEM, FIO, SNDKViolin Memory shares rise after CEO terminated
Shares of flash memory storage system maker Violin Memory (VMEM) are rising after the company fired its Chief Executive Officer, as had been rumored recently as a possibility. WHAT'S NEW: Earlier today, Violin Memory announced the termination of CEO Donald Basile and the appointment of Chairman Howard Bain III to serve as interim CEO, effective immediately. The company said its board has begun a search process and retained an executive search firm to identify a permanent CEO. WHAT'S NOTABLE: On December 12, Business Insider confirmed Chief Technology Officer Jonathan Goldrick left Violin Memory "on good terms." The periodical also noted that the company could not comment at that time on the rumor that CEO Don Basile could potentially leave. Violin Memory made its public trading debut on the New York Stock Exchange on September 27. The company's initial public offering of 18 million shares priced at $9 a share, though it began trading significantly below that level at $7.50. PRICE ACTION: In mid-afternoon trading, Violin Memory advanced nearly 18% to $3.17. OTHERS TO WATCH: Other companies that manufacture flash-based memory and storage systems include Fusion-io (FIO) and Sandisk (SNDK).
News For VMEM;SNDK;FIO From The Last 14 Days
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April 16, 2014
17:23 EDTSNDKSanDisk sees FY14 revenue $6.4B-6.8B, consensus $6.66B
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17:21 EDTSNDKSanDisk sees Q2 gross margins 47%-49%
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17:18 EDTSNDKSanDisk sees Q2 revenue $1.55B-$1.63B, consensus $1.58B
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16:20 EDTSNDKSanDisk trades up after earnings, levels to watch
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16:05 EDTSNDKSanDisk reports Q1 EPS $1.44, consensus $1.25
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15:17 EDTSNDKNotable companies reporting after market close
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12:39 EDTSNDKEarnings Preview: SanDisk holding up well amid Nasdaq turbulence
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April 15, 2014
14:52 EDTVMEMViolin Memory, Clinton group in standstill agreement
Violin Memory disclosed in a filing that on April 12 Violin Memory and Clinton Relational Opportunity Master Fund entered into a settlement agreement for the purpose of, among other things, settling a potential proxy contest with respect to the election of directors to Violinís board of directors at the 2014 annual meeting of the stockholders of Violin. Pursuant to the Settlement Agreement: On April 14, Violin increased the size of the Board from seven to eight members and appointed Vivekanand Mahadevan as a Class II Director of the Board; On April 14, effective immediately upon Mr. Mahadevanís appointment to the Board, Mr. Mahadevan was appointed to the Audit Committee of the Board;The Clinton Group has withdrawn its nomination letter to Violin and has agreed to cause all shares of Violinís common stock beneficially owned by it and its affiliates to vote in favor of the election of each of the Boardís nominees that is currently an incumbent director for election as a Class I Director. Violin has agreed to reimburse the Clinton Group for its reasonable and documented out-of-pocket third party expenses related to the Settlement Agreement and related matters, up to a maximum of $25,000.
April 14, 2014
09:34 EDTSNDKSanDisk mentioned positively at Cleveland Research
08:12 EDTVMEMViolin Memory in pact with Clinton Group, appoints Vic Mahadevan to board
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April 11, 2014
14:29 EDTSNDKSanDisk April volatility elevated into Q1 and outlook
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12:42 EDTSNDKOn The Fly: Analyst Initiation Summary
ASML (ASML) initiated with a Cautious at ISI Group... Analog Devices (ADI) initiated with a Buy at ISI Group... Applied Materials (AMAT) initiated with a Strong Buy at ISI Group... Aruba Networks (ARUN) initiated with a Buy at SunTrust... Broadcom (BRCM) initiated with a Neutral at ISI Group... CSX (CSX) initiated with an Outperform at Macquarie... Cisco (CSCO) initiated with a Buy at SunTrust... F5 Networks (FFIV) initiated with a Neutral at SunTrust... Genesee & Wyoming (GWR) initiated with a Neutral at Macquarie... Intel (INTC) initiated with a Neutral at ISI Group... Juniper (JNPR) initiated with a Buy at SunTrust... KLA-Tencor (KLAC) initiated with a Neutral at ISI Group... Lam Research (LRCX) initiated with a Strong Buy at ISI Group... Linear Technology (LLTC) initiated with a Cautious at ISI Group... Maxim Integrated (MXIM) initiated with a Neutral at ISI Group... Micron (MU) initiated with a Strong Buy at ISI Group... NVIDIA (NVDA) initiated with a Neutral at ISI Group... NXP Semiconductors (NXPI) initiated with a Strong Buy at ISI Group... Qualcomm (QCOM) initiated with a Strong Buy at ISI Group... Riverbed (RVBD) initiated with a Neutral at SunTrust... SanDisk (SNDK) initiated with a Neutral at ISI Group... Teradyne (TER) initiated with a Buy at ISI Group... Texas Instruments (TXN) initiated with a Neutral at ISI Group... Trulia (TRLA) initiated with a Neutral at Susquehanna... Union Pacific (UNP) initiated with a Neutral at Macquarie... Zillow (Z) initiated with a Positive at Susquehanna... Flamel Technologies (FLML) initiated with a Buy at Roth Capital... Parker Drilling (PKD) initiated with an Accumulate at Tudor Pickering.
09:22 EDTSNDKSanDisk not likely to meet Q1 consensus estimates, says BofA/Merrill
BofA/Merrill has concerns SanDisk will report a Q1 miss given weaker than seasonal NAND demand at Asian chipmakers and ASP erosion. The firm has bigger concerns of a Q2 miss given bullish consensus estimates adn potential for Asian chipmakers to be more aggressive in NAN price cuts due to excess inventories. Shares are Underperform rated.
06:08 EDTSNDKMemory suppliers look to bundle NAND flash sales with DRAM chips, DigiTimes says
Some memory device suppliers may be pushing sales of NAND flash chips with DRAM chips in an effort to easy the oversupply of NAND flash products, reports DigiTimes. According to market sources, the prices of NAND chips have continued to decline this year due to the capacity ramps from major companies. Reference Link
April 10, 2014
16:23 EDTSNDKSanDisk initiated with a Neutral at ISI Group
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April 7, 2014
13:05 EDTSNDKAnalyst says semiconductor stocks attractive after decline
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08:16 EDTSNDKPullback in semiconductor stocks creates buying opportunity, says Sterne Agee
After many semiconductor stocks dropped significantly on Friday, Sterne Agee thinks that the group's fundamental mid to long-term outlook hasn't changed. Sterne Agee thinks the companies are poised to benefit from strong product cycles and earnings leverage. It is most upbeat on Micron (MU), NXP Semiconductors (NXPI), Avago (AVGO), Skyworks (SWKS), and SanDisk (SNDK). The firm keeps Buy ratings on all the stocks named.
April 3, 2014
09:14 EDTFIOOn The Fly: Pre-market Movers
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April 2, 2014
18:51 EDTFIOOn The Fly: After Hours Movers
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16:44 EDTFIOFusion-io collaborates with Oracle on flash-aware interfaces for MySQL
Fusion-io (FIO) announced collaboration with Oracle (ORCL) on the development of flash-aware interfaces for MySQL. These interfaces include NVM Compression, a flash-aware interface that can double the usable capacity of Fusion ioMemory flash while eliminating the performance impact associated with disk-era compression and Atomic Writes, an interface that enables more efficient database commits when running on flash memory. Together, these flash-aware interfaces allow MySQL to deliver up to 4x more flash endurance by streamlining commands to help optimize databases for persistent flash memory architectures.
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