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Stock Market & Financial Investment News

News Breaks
April 28, 2014
07:43 EDTSTX, WDCWestern Digital, Seagate should be bought before next leg up, says Brean Capital
Brean Capital said Western Digital (WDC) and Seagate (STX) should be bought ahead of the next leg up and believes both remain structurally attractive heading into quarterly results. The firm expects operating margins to continue and sees cash flow valuation as dramatically underappreciated. Both are Buy rated.
News For WDC;STX From The Last 14 Days
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September 3, 2015
10:04 EDTSTXOn The Fly: Analyst Downgrade Summary
Ambarella (AMBA) downgraded to Market Perform from Outperform at Barrington... CGG SA (CGG) downgraded to Hold from Buy at HSBC... Emerson (EMR) downgraded to Sell from Neutral at Goldman... Pacific Drilling (PACD) downgraded to Neutral from Outperform at Credit Suisse... Seadrill (SDRL) downgraded to Underperform from Neutral at Credit Suisse... Seagate (STX) downgraded to Hold from Buy at Benchmark Co.... Synergetics (SURG) downgraded to Equal Weight from Overweight at Stephens... Turkcell (TKC) downgraded to Neutral from Buy at BofA/Merrill.
07:54 EDTSTXSeagate downgraded to Hold from Buy at Benchmark Co.
Benchmark Co. analyst Mark Miller downgraded Seagate to Hold with a $50 price target.
07:48 EDTSTXSeagate earnings upside potential greater than expected, says Brean Capital
Brean Capital believes investors should be buying Seagate shares as they see the near-term earnings upside potential as great than expected. The firm cited the company's reduction in operating expenses to respond to the softer PC environment and reiterated its Buy rating and $65 price target on Seagate shares.
07:27 EDTWDC, STXWestern Digital has positive read through from Seagate data, says Wells Fargo
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07:21 EDTSTXSentiment towards HP to get lift from Seagate data, says Wells Fargo
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September 1, 2015
08:08 EDTSTXSeagate says develops high density mobile hard drive technology
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07:30 EDTSTXSeagate set up for strong second half, says Brean Capital
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05:30 EDTWDCWD announces partnership with Milestone Systems
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August 31, 2015
12:09 EDTSTX, WDCSanDisk jumps as buyout rumors resurface
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10:53 EDTWDC, STXSanDisk off lows amid takeover speculation
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August 28, 2015
10:02 EDTSTXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADP (ADP) upgraded to Outperform from Market Perform at William Blair... ASML (ASML) upgraded to Buy from Hold at Berenberg... Abercrombie & Fitch (ANF) upgraded on Hollister fundamentals at RBC Capital... Akamai (AKAM) upgraded to Outperform from Market Perform at JMP Securities... Ares Capital (ARCC) upgraded to Outperform from Market Perform at Raymond James... Banco Santander (SAN) upgraded on valuation at Deutsche Bank... CIBC (CM) upgraded to Neutral from Underperform at Credit Suisse... Canon (CAJ) upgraded to Hold from Sell at Deutsche Bank... Citi (C) upgraded to Buy from Neutral at Guggenheim... Ctrip.com (CTRP) upgraded to Buy from Hold at Stifel... El Pollo Loco (LOCO) upgraded at Stifel... Genomic Health (GHDX) upgraded to Market Perform from Underperform at Raymond James... Golar LNG (GLNG) upgraded on valuation, upcoming project completion at Stifel... Habit Restaurants (HABT) upgraded to Buy from Hold at Stifel... Helmerich & Payne (HP) upgraded to Overweight from Equal Weight at Stephens... Himax (HIMX) upgraded to Outperform from Neutral at Credit Suisse... Huntington Bancshares (HBAN) upgraded to Buy from Neutral at Guggenheim... InterContinental (IHG) upgraded to Outperform from Neutral at Credit Suisse... Knight Transportation (KNX) upgraded to Strong Buy on valuation at Raymond James... LogMeln (LOGM) upgraded to Overweight from Sector Weight at Pacific Crest... Patterson Companies (PDCO) upgraded to Overweight from Neutral at Piper Jaffray... Qunar (QUNR) upgraded on valuation, positive catalysts at Stifel... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ryder (R) upgraded to Strong Buy from Outperform at Raymond James... SVB Financial (SIVB) upgraded to Buy from Neutral at DA Davidson... Seagate (STX) upgraded to Buy from Hold at Cross Research... Sinopec (SNP) upgraded to Neutral from Sell at Citi... Summit Hotel Properties (INN) upgraded to Outperform at Baird... Texas Capital (TCBI) upgraded to Buy from Neutral at DA Davidson... The Medicines Co. (MDCO) upgraded to Buy from Hold at Jefferies... U.S. Bancorp (USB) upgraded to Buy from Neutral at Guggenheim... Weatherford (WFT) upgraded to Overweight from Equal Weight at Stephens.
09:18 EDTSTXSeagate upgraded to Buy from Hold at Cross Research
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August 27, 2015
10:00 EDTWDCOn The Fly: Analyst Initiation Summary
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09:40 EDTSTXSeagate to hold an update
Analyst and Investor Strategic Update is being held on September 2 at 9:15 am. Webcast Link
07:09 EDTWDCWestern Digital initiated with an Outperform at Wells Fargo
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August 25, 2015
09:18 EDTSTXSeagate participates in a conference call with Maxim
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August 21, 2015
16:34 EDTSTXMarket enters correction territory in worst week in four years
For the week, stocks plummeted amid concerns about a slowing Chinese economy and declining oil prices. MACRO NEWS: Monday, the Empire State manufacturing index crashed to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009... Meanwhile, the NAHB homebuilder sentiment index rose to 61 in August from 60 in June, matching consensus estimates... Tuesday, July housing starts edged up 0.2% to 1.206M, beating consensus estimates for 1.180M in the best reading since October 2007. Building permits, however, fell 16.3% to 1.119M against expectations for 1.230M, while single family starts rose 12.8% and multifamily numbers fell 17.0%... Wednesday, the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%... Meanwhile, FOMC minutes showed no definitive indication of a September rate hike... Thursday, initial jobless claims rose to 277,000 from a revised 273,000, bringing the 4-week moving average to 271,500... The Philadelphia Fed index rose 2.6 points to 8.3 in August, beating expectations for a 7.5 reading... Friday, the PMI Manufacturing Index Flash for August came in at a level of 52.9, below the prior level of 53.8 and the consensus level of 54.2. COMPANY NEWS: Monday, Liberty Interactive (QVCA) announced an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B. The acquisition will be attributed to Liberty's QVC tracking stock, though the companies specified that QVC and zulily will operate as separate brands... Amazon (AMZN) founder and CEO Jeff Bezos downplayed a recent New York Times critique of the company's workplace practices, telling employees in an email that "the article doesn't describe the Amazon I know or the caring Amazonians I work with every day..." Tuesday, Wal-Mart (WMT) cut its full year earnings outlook, with company executives on a subsequent conference call expressing confidence in China but noting that Brazil and U.K. remain challenging markets for the company... Wednesday, Seagate Technology (STX) agreed to acquire Dot Hill Systems (HILL) for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016... Thursday, Valeant (VRX) agreed to acquire Sprout Pharmaceuticals for roughly $1B in cash plus a profit-sharing agreement, adding that it expects to bring the company's recently-approved female sexual dysfunction drug Addyi to the U.S. by Q4... Friday, Steiner Leisure (STNR) entered into a definitive merger agreement where an affiliate of Catterton will acquire all of the outstanding shares of Steiner for $65 per share in cash. INDEXES: For the week, the Dow lost about 5.79% to close at 16,459.75, the Nasdaq declined about 6.71% to close at 4,706.04, and the S&P 500 fell about 5.73% to close at 1,970.89.
09:40 EDTWDCWestern Digital Q3 TAM tracking ahead of guidance, says Cleveland Research
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August 20, 2015
14:39 EDTSTXEarnings Watch: Hewlett-Packard reports ahead of company split
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