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Stock Market & Financial Investment News

News Breaks
July 23, 2014
12:44 EDTXLNX, ALTRXilinx retreats after revenue, guidance miss prompt downgrades
Shares of Xilinx (XLNX) are tumbling after the company reported lower than expected first quarter revenue and forecast that its sales could drop as much as 4% in Q2 versus Q1. Xilinx develops integrated circuits in the form of programmable logic devices, including programmable System on Chips. WHAT'S NEW: Xilinx reported higher than expected first quarter profits last night, but the company's revenue came in at $612M, versus analysts' consensus estimate of $631.5M. Moreover, the company stated that it expects sales to be flat or fall as much as 4% in the second quarter compared with the just completed one. Analysts had expected Xilinx 's revenue to rise about 5% sequentially. "June quarter revenues were impacted by weaker than anticipated sales from our defense and wireless businesses," the company's CEO, Moshe Gavrielov, explained. "Looking ahead to the second half of our fiscal year, I believe Xilinx is positioned to benefit from a recovery in wireless and defense programs as well as improved business conditions in wired communications and industrial applications," Gavrielov stated. ANALYST REACTION: In a note to investors earlier today, William Blair analyst Anil Doradla downgraded the stock to Market Perform from Outperform. After listening to Xilinx's conference call, Doradla wrote that the company's comments suggest that the ramp up of 4G infrastructure in China will occur at a more gradual pace than previously thought. Additionally, Xilinx's stock was trading at a "healthy" valuation before the market opened today, even if analysts raise their 2015 estimates for the company, Doradia wrote. He cut his rating on the stock to Market Perform from Outperform. Also downgrading the stock today were Bank of America Merrill Lynch and BMO Capital. However, FBR Capital wrote that the decline has created a "great" entry point in the stock. PRICE ACTION: In early afternoon trading, Xilinx sank $7, or 14.5%, to $41.19. Meanwhile, Xilinx's peer Altera (ALTR) dropped 4.75% to $33.35.
News For XLNX;ALTR From The Last 14 Days
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May 22, 2015
06:01 EDTALTRStocks with implied volatility above IV index mean; ALTR MRVL
Stocks with implied volatility above IV index mean; Altera (ALTR) 68, Marvell (MRVL) 40 according to iVolatility.
May 21, 2015
10:43 EDTXLNXOptions with increasing implied volatility
Options with increasing implied volatility: FTR LL XLNX LULU
10:19 EDTXLNXXilinx calls active on renewed takeover chatter
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10:02 EDTXLNXRumor: Xilinx moves up on renewed takeover chatter
Shares of Xilinx (XLNX) are moving up on speculation Avago (AVGO) is in talks to acquire the company.
06:05 EDTALTRStocks with implied volatility above IV index mean; ALTR BBY
Stocks with implied volatility above IV index mean; Altera (ALTR) 68, Best Buy (BBY) 40 according to iVolatility.
May 19, 2015
11:15 EDTALTRAnalyst says Intel takeover of Altera more likely than not
Citi, in a note to investors today, said that the chances of Altera (ALTR) being acquired by Intel (INTC) were greater than 50%. The note comes after multiple news outlets reported yesterday that the two companies have resumed talks about Intel buying the smaller chip maker. ANALYST REACTION: News reports suggest that the odds of Intel buying Altera seem to have increased, wrote Citi analyst Christopher Danely. A deal is more likely to occur than not, according to the analyst. However, he does not believe that the transaction is a done deal. Moreover, the analyst kept a Neutral rating on Intel shares, saying that he does not anticipate changing his rating even if a takeover is consummated. In its own note on Altera this morning, Pacific Crest said it views the breakdown in Dennard scaling and Dark Silicon as an underappreciated positive for the maker of field-programmable gate arrays. The firm sees fair value for Altera at $55-$60 and still thinks that an acquisition by Intel makes sense strategically. PRICE ACTION: In late morning trading, Altera added 0.5% to $47.16, while Intel fell 1% to $33.06.
09:58 EDTXLNXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ascena Retail (ASNA) upgraded to Outperform from Market Perform at FBR Capital... Enphase Energy (ENPH) upgraded to Strong Buy from Buy at Needham... Fifth Third (FITB) upgraded on Vantiv outlook at Oppenheimer... Hortonworks (HDP) upgraded to Overweight from Equal Weight at Barclays... MasterCard (MA) upgraded to Overweight from Sector Weight at Pacific Crest... NetEase.com (NTES) upgraded to Buy from Neutral at Citigroup... Panera Bread (PNRA) upgraded to Outperform from Market Perform at Cowen... Potash (POT) upgraded to Market Perform from Underperform at Cowen... Reed Elsevier (RUK) upgraded to Buy from Neutral at Goldman... Royal Caribbean (RCL) upgraded to Overweight from Neutral at JPMorgan... Sysco (SYY) upgraded at Credit Suisse... THL Credit (TCRD) upgraded to Buy from Hold at Deutsche Bank... Take-Two (TTWO) upgraded to Buy from Neutral at Sterne Agee CRT... Tempur Sealy (TPX) upgraded on Sealy gross margin improvement at Longbow... TriState Capital (TSC) upgraded to Outperform from Market Perform at Keefe Bruyette... Xilinx (XLNX) upgraded to Overweight from Sector Weight at Pacific Crest.
09:17 EDTALTRAltera has 'underappreciated' positive catalyst, says Pacific Crest
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08:06 EDTALTRAltera announces 28nm gate arrays chosen by Harris for newest Falcon III radio
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07:26 EDTXLNXXilinx upgraded to Overweight on FPGA opportunity at Pacific Crest
Pacific Crest upgraded Xilinx to Overweight saying the breakdown in Dennard scaling and Dark Silicon are underappreciated positives for field-programmable gate array makers. The firm set a $60 price target for shares.
06:10 EDTALTRCiti sees over 50% chance of Intel buying Altera
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06:00 EDTALTRStocks with implied volatility above IV index mean; KORS ALTR
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 38, Altera (ALTR) 72 according to iVolatility.
05:59 EDTXLNXXilinx upgraded to Overweight from Sector Weight at Pacific Crest
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May 18, 2015
16:00 EDTALTROptions Update; May 18, 2015
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12:51 EDTALTROn The Fly: Top stock stories at midday
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10:40 EDTALTRIntel, Altera held principal to principal talks late last week, Faber says
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09:44 EDTALTRAltera rallies as takeover talks said to resume with Intel
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09:11 EDTALTRIntel, Altera held 'principal to principal' talks last week, CNBC reports
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07:06 EDTALTRAltera back in talks with Intel about potential takeover, NY Post says
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05:56 EDTALTRStocks with implied volatility above IV index mean; VOD ALTR
Stocks with implied volatility above IV index mean; Vodafone (VOD) 24, Altera (ALTR) 73 according to iVolatility.
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