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Stock Market & Financial Investment News

News Breaks
April 1, 2014
07:17 EDTSNDK, CVLT, STX, FIO, WDCData storage suppliers could benefit from cloud spending, says Pacific Crest
After major providers of cloud storage cut their prices recently, Pacific Crest expects these providers' capital spending on the cloud to nearly double between 2012 and 2015. The firm expects companies that sell components used by cloud providers to benefit. Consequently, Pacific Crest recommends that investors buy shares of Western Digital (WDC), Seagate (STX), SanDisk (SNDK), Fusion-IO (FIO), and CommVault (CVLT).
News For WDC;STX;SNDK;FIO;CVLT From The Last 14 Days
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May 28, 2015
10:36 EDTSNDKSanDisk options active
SanDisk May weekly 69.5 and 70 calls are active on total call 10K contracts (10K puts). May weekly call option implied volatility is at 38, June and July is at 29; compared to its 52-week range of 21 to 36. Active option volume suggests traders taking positions for price movement.
10:02 EDTWDCOn The Fly: Analyst Upgrade Summary
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09:27 EDTWDCOn The Fly: Pre-market Movers
HIGHER: Rally Software (RALY), up 44% after deal to be bought by CA Technologies for $19.50 per share... IMAX (IMAX), up 6.5% after IMAX China files application for IPO on Hong Kong Stock Exchange... Avago (AVGO), up 2.8% after announcing deal to buy Broadcom (BRCM) for $37B in cash and stock. Broadcom shares are down 1% following the announcement... Western Digital (WDC), up 2.4% following upgrade to Buy from Neutral at Goldman. UP AFTER EARNINGS: Express (EXPR), up 8%... Abercrombie & Fitch (ANF), up 4.3%. LOWER: NeoStem (NBS), down 22.8% after 12.5M share secondary price at $2 per share... Ctrip.com (CTRP), down 1.6% after reportedly disclosing cyberattack against its services. DOWN AFTER EARNINGS: Orbital ATK (OA), down 1.6%... Signet (SIG), down 3.5%... Sanderson Farms (SAFM), down 3%... Dangdang (DANG), down 11%.
05:53 EDTWDC, STXWestern Digital upgraded to Buy from Neutral at Goldman
Goldman Sachs analyst Bill Shope upgraded Western Digital (WDC) to Buy from Neutral saying concerns over the weak PC market are overdone. Shope points out that Western Digital's business is increasingly dependent on non-PC Exabyte growth. He also notes Goldman's leveraged buyout model finds a 14.3% base case internal rate of return. The analyst raised his price target for shares to $122 from $106. The data storage solutions company closed yesterday up $1.18 to $94.37. Its peer Seagate (STX), which Shope says Western Digital trades at a discount to, closed yesterday up 75c to $55.34.
May 22, 2015
09:58 EDTSNDKOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allison Transmission (ALSN) initiated with a Buy at Stifel... Avago (AVGO) initiated with a Buy at Mizuho... Blackstone (BX) initiated with a Positive at Susquehanna... Cellectis (CLLS) initiated with an Outperform at Oppenheimer... Cypress Semiconductor (CY) initiated with a Buy at Mizuho... Esperion (ESPR) initiated with a Sell at Chardan... H&R Block (HRB) initiated with an Overweight at Piper Jaffray... Horizon Pharma (HZNP) initiated with an Outperform at Leerink... M/A-COM (MTSI) initiated with a Buy at Goldman... Meritor (MTOR) initiated with a Hold at Stifel... Micron (MU) initiated with a Buy at Mizuho... Monster Worldwide (MWW) initiated with a Neutral at Piper Jaffray... NXP Semiconductors (NXPI) initiated with a Buy at Mizuho... National Storage (NSA) initiated with a Sector Weight at KeyBanc... ON Semiconductor (ON) initiated with a Buy at Mizuho... Qorvo (QRVO) initiated with a Buy at Goldman... SanDisk (SNDK) initiated with a Neutral at Mizuho... Sharps Compliance (SMED) initiated with a Buy at Stifel... Skyworks (SWKS) initiated with a Buy at Mizuho... StemCells (STEM) initiated with a Buy at Cantor... Synaptics (SYNA) initiated with a Buy at Mizuho... Synergy Pharmaceuticals (SGYP) initiated with a Buy at Canaccord... Texas Instruments (TXN) initiated with a Neutral at Mizuho... TriNet (TNET) initiated with a Neutral at Piper Jaffray... Vascular Biogenics (VBLT) initiated with a Buy at Roth Capital... Verifone (PAY) initiated with an Outperform at Imperial Capital... uniQure (QURE) initiated with an Outperform at Oppenheimer.
May 21, 2015
16:14 EDTSNDKSanDisk initiated with a Neutral at Mizuho
Target $74.
May 19, 2015
12:55 EDTSTX, WDCPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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11:16 EDTSNDKSanDisk sees completing headcount reductions by end of this quarter
11:06 EDTSNDKSanDisk says in Q2 to date repurchased $100M in shares
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10:57 EDTSNDKSanDisk targets 2016 for return to enterprise revenue growth
10:56 EDTSNDKSanDisk sees enterprise revenue contracting sequentially in Q2
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10:49 EDTSNDKSanDisk rallies while presenting at conference
Shares of SanDisk (SNDK) are moving higher while the company is presenting at the J.P. Morgan Global Technology, Media and Telecom Conference. During its presentation, SanDisk management said that 15 nanometer technology is ramping to plan and that it expects "strong" sequential revenue growth in the second half of the year. Shares of SanDisk are up 1.7% to $68.66 in morning trading.
10:46 EDTSNDKSanDisk sees strong sequential revenue growth in 2H
Sees successful completion of embedded qualifications.
10:43 EDTSNDKSanDisk says 15 nanometer technology ramping to plan
Comments from J.P. Morgan Global Technology, Media and Telecom Conference.
08:33 EDTSTX, WDCMorgan Stanley cautious in near-term on PC names
Morgan Stanley is more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team continues to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. Morgan Stanley is cautiously optimistic on Western Digital (WDC) due to its diverse revenue drivers, sees value creation catalysts for Hewlett-Packard (HPQ) and believes Microsoft (MSFT) shares reflect the challenging PC market and Win 10. The firm is more cautious on semis such as NVIDIA (NVDA) given higher valuations, share loss at Advanced Micro (AMD), potential 2H margin pressure at Intel (INTC), and Morgan is cautious on PC DRAM stocks near-term due to weaker pricing.
May 18, 2015
10:04 EDTCVLTCommVault management to meet with Piper Jaffray
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10:02 EDTSNDKNAND pricing tracking ahead of expectations, says JPMorgan
JPMorgan said the NAND market is picking up and pricing is tracking ahead of expectations due to restocking momentum. The firm expects NAND market traction heading into 2H driven by new smartphone launches and a recovery in the PC market. Note SanDisk is leveraged to NAND.
May 15, 2015
07:04 EDTWDCWestern Digital can reach $10+ EPS in fiscal 2017, says RBC Capital
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