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January 21, 2014
05:48 EDTINTC, VZVerizon to purchase Intel media assets, terms not disclosed
Verizon (VZ) and Intel (INTC) announced an agreement for Verizon to purchase from Intel the assets of Intel Media, a business division dedicated to the development of Cloud TV products and services. The transaction will accelerate the availability of next-generation video services, both integrated with Verizon FiOS fiber-optic networks and delivered "over the top" to any device. Terms of the transaction were not disclosed. Verizon will purchase intellectual property rights and other assets that enable Intel's OnCue Cloud TV platform. Verizon will also make employment offers to substantially all of the approximately 350-person Intel unit, which will continue to be based in Santa Clara and be led by its current management team. The transaction is expected to close early in Q1.
News For VZ;INTC From The Last 14 Days
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October 2, 2015
12:02 EDTVZFrontier Communications, IBEW AFL-CIO reach agreement in Florida
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October 1, 2015
15:02 EDTINTCEarnings Watch: Micron quarter highlighted by Tsinghua report, 3D XPoint launch
Micron Technology (MU) is expected to report fourth quarter earnings after the close on Thursday, October 1, with a conference call scheduled for 4:30 pm EDT. Micron manufactures semiconductor devices, principally Dynamic Random Access Memory, or DRAM, NAND Flash and NOR Flash memory. EXPECTATIONS: Analysts are looking for earnings per share of 33c on revenue of $3.56B. The consensus range is 22c-47c for EPS on revenue of $3.4B-$3.68B, according to First Call. On its last earnings conference call, Micron guided for Q4 revenue of $3.45B-$3.7B. In terms of bit growth in Q4, the company said it expected DRAM bit growth to be flat to up by a low single digit percentage in the quarter. LAST QUARTER: On June 25, Micron reported Q3 adjusted EPS of 54c, against a consensus of 56c, and revenue of $3.85B, against a consensus of $3.9B. The company said then that its decline in revenues compared to prior quarter was primarily due to a 10% decline in DRAM average selling prices and relatively flat DRAM sales volume. NEWS: Wednesday, shares of Western Digital (WDC) surged after Unisplendour, a unit of China's Tsinghua Holdings, agreed to buy a 15% stake in the U.S. data storage company for $3.78B. In July, The Wall Street Journal reported that Tsinghua Unigroup, which is a majority-owned unit of Tsinghua Holdings, offered to buy Micron for $23B. As of yet no deal has come to fruition, but Tsinghua Holdings chairman Jinghong Xu has reportedly said that his company was open to a partnership with Micron if an acquisition deal could not be reached. Also during this quarter, Intel (INTC) and Micron unveiled 3D XPoint technology, a non-volatile memory that the companies say has the potential to "revolutionize any device, application or service that benefits from fast access to large sets of data." Now in production, 3D XPoint technology brings non-volatile memory speeds up to 1,000 times faster than NAND, according to the partners. STREET RESEARCH: After the Journal's initial report that Tsinghua had offered to acquire Micron, research firms had mixed reactions. Tsinghua may have indicated that it was making the "low ball" offer in order to gauge the reaction of Micron's management and shareholders to it, Summit Research analyst Srini Sundarararjan contended in a note to investors immediately following the story. Tsinghua will probably increase its bid, the analyst predicted. Piper Jaffray analyst Ruben Roy told investors that the deal makes sense for Tsinghua and China, but not for Micron. If a takeover of Micron was based on the average valuation that companies in Micron's sector had received in takeover deals over the last 18 months, it would fetch a takeover price of $43 per share, Roy estimated. Micron and Tsinghua are more likely to reach an intellectual property sharing deal than complete a takeover transaction, according to Piper's analyst. On August 7, Drexel Hamilton analyst Richard Whittington downgraded Micron to Hold from Buy, stating that a PC unit refresh hasn't materialized and DRAM unit demand and pricing were trending below anticipated levels. Whittington cut his price target on Micron shares to $19. After Micron held its analyst meeting on August 14, analysts were divided in their responses. Right after the event, Wells Fargo upgraded Micron to Market Perform from Underperform, while pointing out that it still believes that the company is facing several risks, including falling prices for DRAM and its rising capital spending. Although Micron is facing "challenging near-term conditions," including a weak PC market, the company outlined many positive aspects of its business at the meeting, according to Piper's Roy. Micron may miss estimates in the short-term but its share price is unlikely to drop much further, and its performance should improve significantly next year, Roy said at that time. Micron's decision to raise its capital spending suggests that it is "overconfident" in its new chips, according to Bank of America/Merrill Lynch analyst Simon Dong-je Woo, who cut his rating on the shares to Neutral from Buy following the analyst day. Also during August, Baird downgraded Micron to Neutral, citing falling DRAM prices. On September 21, Barclays analyst Blayne Curtis started shares of Micron with an Overweight rating and $20 price target, saying he believed near-term risk from weak DRAM demand was priced into the stock at then-current levels. Earlier this week, Wells Fargo analyst David Wong upgraded Micron Technology to Outperform, saying current valuation levels provide upside potential. Wong cut his estimates for the company, however, citing the "ongoing slide" in DRAM pricing. Nonetheless, he thinks that memory industry financial dynamics have improved in recent years and keeps a $16-$19 price target range for Micron shares. PRICE ACTION: Over the last three months, shares of Micron have fallen about 22%. Ahead of its earnings report, Micron declined 2.3% to $14.64 in late day trading.
September 30, 2015
16:00 EDTINTCOptions Update; September 30, 2015
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11:31 EDTVZOn Track Innovations files patent infringement lawsuits against AT&T, Verizon
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10:50 EDTVZAT&T, Verizon could find it hard to sell enterprise businesses, CTFN says
The wireline units of AT&T (T) and Verizon (VZ) that serve corporate customers may be viewed as good units to sell if the companies need to raise cash to help defray spectrum acquisition costs, but a small number of potential buyers and low EBITDA multiples for the units could make any such divestitures challenging, contended CTFN. Level 3 (LVLT) could be seen as a potentially interested buyer, but a source within the company told CTFN that purchasing units that are part of other companies, known as a "carve out," doesn't match the company's usual M&A strategy. Reference Link
10:49 EDTINTCWestern Digital surges on $3.78B investment from China's Unisplendour
Shares of Western Digital (WDC) surged in morning trading after the company said it Unisplendour will take a 15% stake in the U.S. data storage company. WHAT'S NEW: Western Digital and Unisplendour, a unit of China's Tsinghua Holdings, said they entered into a pact under which a Unis subsidiary will invest $3.78B in Western Digital, the companies said. Under the terms of the agreement, Unis will buy the shares at $92.50 each. Unisplendour will own 15% of Western Digital's outstanding shares after the purchase, and have the right to nominate one representative to Western Digital's board of directors, a right that terminates if Unis' ownership falls below 10%. Unis also agreed not to sell any of its Western Digital shares for five years. WHAT'S NOTABLE: In July, the Wall Street Journal reported that Tsinghua Unigroup, which is majority-owned Tsinghua Holdings, offered to buy Micron Technology (MU) for $23B. After several talks and meetings over the matter, Reuters reported on August 28 that Zhao Weiguo, chairman of Tsinghua Unigroup, met with Micron in an attempt to revive takeover talks, but a deal did not come to fruition. Tsinghua Holdings chairman Jinghong Xu said that his company was open to a partnership with Micron if an acquisition deal could not be reached, dealReporter said. Separately, in May, Hewlett-Packard (HPQ) announced that it would sell a 51% stake in its H3C business to Unisplendour for roughly $2.3B. PRICE ACTION: In morning trading, Western Digital shares are up 16.06% to $79.91. OTHERS TO WATCH: Micron, which reports quarterly earnings on Thursday, is up 5.25% to $15.10, HP is up 2.56% to $25.28, SanDisk (SNDK) is up 9.2% to $53.63, Intel (INTC) is up 3.56% to $30.28, and Seagate (STX) is up 5.5% to $44.10.
09:59 EDTINTCActive equity options trading on open
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09:31 EDTVZVerizon Ventures partners with Grand Central Tech
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September 29, 2015
09:03 EDTINTCHP updates entry-level workstation
HP (HPQ) announced the HP Z240 Tower and Z240 SFF Workstations with next generation Intel (INTC) processors and HP Z Turbo Drive options, raising the bar for entry-level workstations, while providing the reliability of a workstation at the price point of a desktop PC. The Z240 is the latest update to the world's No. 1 ranked entry-level workstation, the HP Z230. As HP's most affordable workstation, the Z240 is ideal for customers in the video editing, MCAD/AEC, education, public sector and image viewing industries.
06:48 EDTINTCAMD stake sale talks with Silver Lake stalled, Bloomberg says
Advanced Micro Devices (AMD), a competitor of Intel (INTC), was in discussions to sell an approximate 25% stake to private equity firm Silver Lake Management before the talks were stalled, Bloomberg reports, citing people with knowledge of the matter. The two sides have put talks on hold after they failed to reach an agreement over price and strategy, the report says. AMD is looking into other strategic options, the report says. Reference Link
06:18 EDTVZPublicis signs advertising partnership with Verizon's Go90 service, WSJ reports
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September 28, 2015
14:08 EDTVZAOL announces the launch of LIVE by AOL
AOL announced the launch of LIVE by AOL, a comprehensive end-to-end service for the production, streaming, distribution and monetization of live events. LIVE by AOL brings together AOL's world-class video expertise with Verizon Digital Media Services to give content and media partners access to a complete suite of live experience solutions for all screens and devices. LIVE by AOL provides content and media partners with unprecedented distribution through the company's owned and operated properties, including, The Huffington Post, TechCrunch and more, in addition to a holistic and open network of over 1,700 publisher partners for live distribution across mobile, digital, over-the-top, and linear TV. In addition to LIVE's expansive reach, the solution also provides complete production capabilities, full content-preparation supported by cross-device, cloud-based encoding that is combined with Verizon Digital Media Services' high-performance stream delivery, and options to monetize through various advertising, sponsorship, and native integration options. "As the video landscape continues to evolve, live programming is the next frontier for innovation," said Jimmy Maymann, EVP and President, AOL Content & Consumer Brands. "LIVE by AOL not only unites the pillars of our business, but enables all of our content and media partners to tap into the power of live programming and bring that success to their own properties. As the lines between traditional television and online video blur, producing, distributing, and monetizing live content in the digital realm will be a deciding factor for those who successfully step into the next era of video."
13:42 EDTVZVerizon offers annual upgrade plan for iPhone users
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10:50 EDTINTCAnalyst more upbeat on Intel, downgrades Qorvo following trip to Asia
After traveling to Asia, Pacific Crest analyst Michael McConenell was more upbeat on the outlook for Intel (INTC), as well as smartphone chip makers Avago (AVGO) and Skyworks (SWKS). The analyst downgraded another smartphone chip maker, Qorvo (QRVO), to Sector Weight from Overweight, warning that the company's results may miss expectations down the road. BULLISH: Shipments of notebook computers appear set to exceed expectations by 5%-10% this month, after more of the devices seem to have been manufactured in August and September than in previous months, according to McConnell. Meanwhile, cloud customers are sparking a significant rebound in data centers' semiconductor demand, the analyst stated. Moreover, motherboard manufacturers say they are seeing increased demand for their products from desktop PC makers, the analyst stated. All of these trends bode well for Intel, indicated McConnell, who kept a $35 price target and Overweight rating on the shares. Demand for Avago's products appears to have remained healthy, given the company's low exposure to China and the strong demand for Apple's (AAPL) iPhone 6S devices, the analyst stated. Another research firm, Craig-Hallum, recently estimated that Avago generates $6.75 of revenue per iPhone 6S sold, up from the $6.50 it obtained from the previous generation of iPhones. Pacific Crest's McConnell kept a $180 price target and Overweight rating on the shares of Avago. Skyworks should benefit from strong near-term demand trends, driven by a shift to module architectures, McConnell contended. According to the analyst, the company's 2016 outlook is also strong. BEARISH: Analysts' "out-quarter estimates" for Qorvo are too high, as they expect the company to grow 8.4% each quarter, versus only 5.9% for Skyworks, McConnell stated. Qorvo is facing several headwinds, including struggles with a key customer, Chinese smartphone maker Xiaomi, and its inability to obtain more revenue per each iPhone sold, the analyst stated. These headwinds will probably prevent Qorvo from meeting analysts' expectations, warned McConnell. Additionally, the company will be hurt by the slowdown in the growth of the Chinese smartphone market, predicted the analyst, who cut his rating on the stock to Sector Weight from Overweight. PRICE ACTION: In morning trading, Intel rose 1.2% to $29.16, Avago dropped 1.7% to $124.56, Skyworks fell 3.6% to $84.58 and Qorvo declined 8.5% to $43.61.
07:39 EDTINTCIntel fundamentals improving, says Pacific Crest
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06:50 EDTVZVerizon's go90 wins $80M from backers, NY Post reports
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September 25, 2015
16:00 EDTINTCOptions Update; September 25, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 25.09. Option volume leaders: AAPL NFLX BAC FB AU NKE PFE INTC AMZN TSLA
10:00 EDTINTCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3M (MMM) upgraded to Outperform from Neutral at Credit Suisse... ACE Limited (ACE) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Buy from Outperform at CLSA... Autoliv (ALV) upgraded to Sector Perform from Underperform at RBC Capital... Bed Bath & Beyond (BBBY) upgraded to Market Perform at Telsey Advisory... Box (BOX) upgraded to Buy at Canaccord... Chevron (CVX) upgraded to Peer Perform from Underperform at Wolfe Research... CyberArk (CYBR) upgraded to Buy from Neutral at Nomura... Exelon (EXC) upgraded to Buy from Neutral at Guggenheim... General Growth (GGP) upgraded to Outperform from Market Perform at BMO Capital... Intel (INTC) upgraded on positive checks, developments at JMP Securities... KLA-Tencor (KLAC) upgraded to Outperform from Underperform at CLSA... Lam Research (LRCX) upgraded to Buy from Outperform at CLSA... Marvell (MRVL) upgraded to Buy from Hold at Craig-Hallum... Nike (NKE) upgraded on share gains at Sterne Agee CRT... Spirit Airlines (SAVE) upgraded to Outperform from Market Perform at Cowen... United Rentals (URI) upgraded to Neutral from Underperform at BofA/Merrill.
09:21 EDTINTCIntel upgraded on positive checks, developments at JMP Securities
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06:30 EDTINTCIntel upgraded to Market Perform from Underperform at JMP Securities
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