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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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March 2, 2015
07:08 EDTALTR, XLNXCiti says channel checks negative for Altera, Intel, Xilinx
Citigroup says its channel checks indicate Altera's (ALTR) 14nm tapeout at Intel (INTC) has been pushed out again from Q2 to the second half of the year. Its checks also show that Altera has been "very aggressive" in pricing to gain back market share in Asia. Citi sees the two issues as negative for Altera, Intel and Xilinx (XLNX), and positive for TSMC (TSM) and Samsung.
February 25, 2015
07:27 EDTALTR, XLNXThe Linley Group to hold a conference
Linley Data Center Conference 2015 is being held in Santa Clara, California on February 25-26.
February 23, 2015
07:46 EDTALTRAltera management to meet with Deutsche Bank
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February 17, 2015
07:22 EDTALTRMitsubishi UFJ to hold a tour
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