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Stock Market & Financial Investment News

News Breaks
July 23, 2014
12:44 EDTALTR, XLNXXilinx 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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April 22, 2015
05:59 EDTALTRAltera implied volatility of 67 at upper end of index
05:43 EDTALTR, XLNXAltera downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Ruben Roy downgraded Altera (ALTR) to Neutral from Overweight saying takeover speculation has driven the valuation above a fundamentals based fair value. He believes an acquisition by Intel (INTC) makes sense, but at a reasonable valuation. The analyst thinks a higher premium than $54 per share is unlikely. Piper keeps a $42 price target for shares of Altera. Roy still views the longer-term prospects for the programmable logic device companies favorably and thinks Altera is better positioned near-term versus Xilinx (XLNX). Shares of Altera closed yesterday up 8c to $43.24.
April 21, 2015
14:05 EDTALTRAltera volatility elevated into Q1 and outlook
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April 20, 2015
14:27 EDTALTRAltera volatility elevated into Q1 and outlook
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12:50 EDTXLNXXilinx April weekly volatility elevated into Q4 and outlook
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06:09 EDTALTRAltera implied volatility of 74 at upper end of index
April 17, 2015
05:58 EDTALTRAltera implied volatility of 69 at upper end of index
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05:53 EDTXLNXStocks with implied volatility movement; XLNX MYL
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April 16, 2015
10:34 EDTXLNXXilinx April calls active after dealReporter discusses potential takeout
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09:57 EDTALTR, XLNXXilinx rallies after dealReporter discusses potential takeout
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09:51 EDTXLNXXilinx moves higher following a dealReporter article
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07:53 EDTALTRAltera options indicate traders still hoping for deal, Reuters says
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06:01 EDTALTRAltera implied volatility of 71 at upper end of index
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April 15, 2015
15:53 EDTALTRAltera cases illustrates challenges Intel may face in dealmaking, WSJ says
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14:26 EDTALTRAltera volatility elevated into Q1 and outlook
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April 13, 2015
19:18 EDTALTROn The Fly: After Hours Movers
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17:52 EDTALTRAltera holders Candid, Tig looking for sale to Intel, Bloomberg says
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16:48 EDTALTRAltera up 1.4% following Bloomberg report of holders pushing for sale to Intel
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16:45 EDTALTRAltera holders Candid, Tig looking for sale to Intel, Bloomberg says
05:51 EDTALTRStocks with implied volatility movement; ALTR GPO
Stocks with implied volatility movement; Altera (ALTR) 68, GoPro (GPRO) 62 according to iVolatility.
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