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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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October 20, 2014
12:36 EDTXLNXOptions with decreasing implied volatility
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10:38 EDTALTRHigh option volume stocks
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09:35 EDTALTRAltera moves higher after a positive dealReporter article
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October 17, 2014
10:37 EDTXLNXOptions with decreasing implied volatility: ATLS JNJ XLNX JNK HYG
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10:00 EDTXLNXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
06:27 EDTXLNXXilinx reset expectations on Chinese wireless, says Pacific Crest
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05:27 EDTXLNXXilinx upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Xilinx to Outperform citing reduced valuation risk following the recent pullback in shares. Wells keeps a $42-$50 price target range for shares.
October 16, 2014
18:36 EDTALTR, XLNXOn The Fly: After Hours Movers
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16:22 EDTXLNXXilinx sees Q3 sales flat to up 4% sequentially, consensus $623.13M
For Q3, sales are expected to be flat to up 4% sequentially and gross margin is expected to be approximately 69%. CEO Moshe Gavrielov said, "For the December quarter, we are forecasting a strong recovery in 28nm sales driven by a broad base of applications. We continue to target approximately $600M in 28nm sales for FY15, up nearly 60% from the prior fiscal year."
16:21 EDTXLNXXilinx reports Q2 EPS 62c, consensus 55c
Reports Q2 revenue $604.3M, consensus $601.69M. Moshe Gavrielov, Xilinx President and CEO, said, "September quarter sales were in line with our guidance, but our profitability surpassed our expectations. Operating margin was 33% in the September quarter, up from 27% in the same quarter a year ago."
15:26 EDTXLNXNotable companies reporting after market close
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October 15, 2014
08:44 EDTXLNXXilinx October volatility elevated into Q2 and guidance
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October 14, 2014
08:55 EDTXLNXBarclays top ideas in U.S. Semiconductors on the pullback
Barclays' top U.S. Semiconductor ideas to buy on the pullback are Avago (AVGO), Cavium (CAVM), Spansion (CODE), NXP Semiconductors (NXPI) and Xilinx (XLNX).
06:29 EDTALTRTSMC and rivals racing to pack computer power in each chip, WSJ says
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October 8, 2014
10:00 EDTALTROn The Fly: Analyst Initiation Summary
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