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INTC

Intel

$34.24

-0.01 (-0.03%)

, MBLY

Mobileye

$63.05

-0.01 (-0.02%)

08:32
07/14/17
07/14
08:32
07/14/17
08:32

Intel: ITA issues 'acceptable' tax ruling for Mobileye asset sale

Intel (INTC) announced that the Israel Tax Authority has issued an acceptable tax ruling with respect to the tax treatment of the potential asset sale, liquidation and second step distribution contemplated in connection with the all cash tender offer to purchase all of the outstanding ordinary shares of Mobileye (MBLY) by Intel. The tender offer is being made pursuant to the Purchase Agreement, dated as of March 12, 2017, by and among Intel, Cyclops Holdings, Inc., a wholly owned subsidiary of Intel that was later converted to Cyclops Holdings, LLC, and Mobileye. As a result of receipt of the tax ruling and the adoption of certain shareholder resolutions at the general meeting of Mobileye shareholders in June, the minimum number of Mobileye shares that must be validly tendered and not withdrawn prior to the expiration of the tender offer has been lowered from 95% to 67% of outstanding Mobileye shares. Withdrawal rights will terminate following the Expiration Time. Mobileye shareholders who have already tendered their Mobileye shares in the tender offer but whose willingness to tender is affected by the lower threshold for the Minimum Condition should withdraw their Mobileye shares from the tender offer immediately but in any event before the Expiration Time. In connection with the receipt of the tax ruling and the lowering of the Minimum Condition, Intel also announced that Intel and Mobileye have agreed that Cyclops will extend the offering period of the tender offer. The tender offer, which was previously set to expire at 5:00 p.m., New York City time, on July 20, 2017, is now scheduled to expire at 5:00 p.m., New York City time, on July 28, 2017, unless the tender offer is extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement. The transaction is currently expected to close during the third quarter of 2017. In addition to satisfaction of the revised Minimum Condition, completion of the tender offer remains subject to additional conditions described in the Schedule TO, including the receipt of regulatory approval from the Korean Fair Trade Authority. The tender offer will continue to be extended until all conditions are satisfied or waived, or until the tender offer is terminated.

INTC

Intel

$34.24

-0.01 (-0.03%)

MBLY

Mobileye

$63.05

-0.01 (-0.02%)

  • 10

    Aug

  • 15

    Aug

INTC Intel
$34.24

-0.01 (-0.03%)

07/12/17
HDLY
07/12/17
INITIATION
Target $41
HDLY
Long-Term Buy
Intel initiated with a Long-Term Buy at Hilliard Lyons
Hilliard Lyons analyst Stephen Turner initiated Intel with a Long-Term Buy and a $41 price target telling investors he expects new growth markets to expand the company's total addressable market over the next 5-10 years. The analyst is also positive on Intel's strategy shift toward the data center, and connecting end market devices, and its history of consistent dividend growth, buybacks, and synergistic M&A.
07/12/17
KEYB
07/12/17
NO CHANGE
KEYB
Monolithic Power should be bought ahead of results, says KeyBanc
KeyBanc analyst John Vinh recommends buying Monolithic Power (MPWR) ahead of its Q2 results. He thinks that investors' focus will be on the company's Q3 guidance, and he believes that the guidance will be boosted by content gains in Microsoft's (MSFT) new Xbox and Intel's (INTC) Purley chip.
07/12/17
NEED
07/12/17
NO CHANGE
Target $43
NEED
Buy
Needham remains positive on Intel
After attending Intel's (INTC) official launch event for its Xeon Scalable Platform, Needham analyst N. Quinn Bolton says he came away positive on Intel's shares and expects the ramp to positively impact Cavium (CAVM), Integrated Device (IDTI), Monolithic Power (MPWR) and Microsemi (MSCC). The analyst reiterates a Buy rating and $43 price target on Intel's shares.
07/12/17
WELS
07/12/17
NO CHANGE
WELS
Intel datacenter growth could reach double digits, says Wells Fargo
Wells Fargo analyst David Wong says that the growth of Intel's datacenter unit "could well rise solidly into the double digit percent year-over-year range" in 2H17, driven by the company's new Purley chip. Wong continues to identify the stock as a top pick.
MBLY Mobileye
$63.05

-0.01 (-0.02%)

03/20/17
03/20/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pivotal Research analyst Brian Wieser downgraded Alphabet (GOOGL) to Hold from Buy citing brand safety concerns and valuation following the recent rally in the shares. News last week that Havas, the sixth largest global media network, is pulling its spending from Google's YouTube and Google Display Network in the U.K. because Google was "unable to provide specific reassurances, policy and guarantees that their video or display content is classified either quickly enough or with the correct filters" is a big deal, Wieser tells investors. 2. Canaccord analyst Lynne Collier downgraded Sonic (SONC) to Hold from Buy, citing challenging industry sales, the potential for Street estimates to be too high in the midst of soft sales, a lack of upcoming catalysts, and increasing competition from non-traditional venues such as convenience stores. 3. Piper Jaffray analyst Alexander Potter downgraded Mobileye (MBLY) to Neutral saying that while demanding a higher buyout price may be justified, he "begrudgingly" concluded that the price Intel (INTC) is paying for the company is fair. The analyst raised his price target for Mobileye shares to $63.54 from $60 to reflect Intel's offer. 4. Susquehanna analyst Sam Poser downgraded Caleres (CAL) citing the company's "disappointing" results and his belief that the company will not be able to overcome industry headwinds. 5. Goldman Sachs analyst Conor Fitzgerald downgraded Stifel Financial (SF) to Neutral from Buy while raising his price target for the shares to $59 from $58. The analyst believes LPL Financial (LPLA), a stock he upgraded this morning to Conviction Buy, offers more upside at current valuations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/20/17
BARD
04/20/17
DOWNGRADE
Target $51
BARD
Neutral
Mobileye downgraded to Neutral from Outperform at Baird
Baird analyst David Leiker downgraded Mobileye (MBLY) to Neutral from Outperform citing its impending acquisition by Intel (INTC).
05/24/17
05/24/17
NO CHANGE

Perform
Opco sees limited number of competitors for Tesla's Model 3
Oppenheimer analyst Colin Rusch believes Tesla's (TSLA) Model 3 rollout is critical to its position in Advanced Driver Assist Systems. Tesla's ability to "accelerate learning cycles related to characterizing driving behavior" is facilitated by the high volume rollout of Model 3," Rusch tells investors in a research note. His channel checks indicate just fifteen models with semi-autonomous driving technology are currently available for model years 2016/2017. These cars are offered by BMW, Mercedes-Benz, Volvo, and Tesla. The analyst notes that a RAND Corporation study estimates over 11B test miles would be necessary in order to show statistically significant evidence of the autonomous vehicle's superiority over human drivers. With Model 3 enabling high mileage data collection, Tesla can accumulate the necessary mileage within just 27 months, or by mid-2021, Rusch writes. The analyst sees the potential for Tesla's ADAS value to be "significantly higher" than Mobileye's (MBLY) acquisition price if it can control the machine learning aspect of the product development. Rusch has a Perform rating on Tesla shares. The stock closed yesterday down $6.49 to $303.86.
05/30/17
05/30/17
DOWNGRADE

Sector Weight
Ambarella downgraded to Sector Weight from Overweight at Pacific Crest
Pacific Crest analyst Brad Erickson downgraded Ambarella (AMBA) to Sector Weight on concern the company's largest customer DJI may have dual-sourced. After speaking with DJI customer service, Erickson believes Ambarella may not be the video processing provider for Spark, the $499 drone launched last week by DJI. This could become a "material headwind" to Ambarella's revenue and earnings over the longer term, Erickson tells investors in a research note. He notes that the shares are up 23% since Intel (INTC) bid to acquire Mobileye (MBLY).

TODAY'S FREE FLY STORIES

NVS

Novartis

$85.91

0.17 (0.20%)

, MCD

McDonald's

$163.34

-2.96 (-1.78%)

20:25
10/23/17
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20:25
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20:25
Earnings
Notable companies reporting before tomorrow's open »

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NVS

Novartis

$85.91

0.17 (0.20%)

MCD

McDonald's

$163.34

-2.96 (-1.78%)

MMM

3M

$221.55

0.23 (0.10%)

UTX

United Technologies

$120.89

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LLY

Eli Lilly

$87.18

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LMT

Lockheed Martin

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0.73 (0.23%)

CAT

Caterpillar

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0.32 (0.24%)

BIIB

Biogen

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GM

General Motors

$45.15

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SHW

Sherwin-Williams

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INFY

Infosys

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0.27 (1.85%)

GLW

Corning

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PCAR

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SWK

Stanley Black & Decker

$158.19

-1.93 (-1.21%)

FITB

Fifth Third

$28.43

-0.17 (-0.59%)

CNC

Centene

$97.99

1.49 (1.54%)

WAT

Waters

$187.55

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IPG

Interpublic Group

$20.63

-0.25 (-1.20%)

WAB

Wabtec

$76.39

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HUBB

Hubbell

$121.32

-1.75 (-1.42%)

JBLU

JetBlue

$19.88

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PII

Polaris Industries

$106.92

0.46 (0.43%)

GPK

Graphic Packaging

$14.27

-0.01 (-0.07%)

R

Ryder

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CVLT

Commvault

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PINC

Premier

$34.21

0.04 (0.12%)

20:14
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20:14
Downgrade
Premier rating change  »

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VBTX

Veritex

$26.94

-0.17 (-0.63%)

19:29
10/23/17
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Earnings
Veritex reports Q3 core EPS 28c, consensus 30c »

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OIBR

Oi S.A.

19:08
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Hot Stocks
Oi: Court postpones general meeting of creditors »

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HAS

Hasbro

$89.75

-8.44 (-8.60%)

18:24
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Hasbro CEO: Had a very strong quarter »

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  • 23

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LGF.A

Lionsgate

$29.59

-0.5 (-1.66%)

, LGF.B

Lionsgate

$28.44

-0.6 (-2.07%)

18:07
10/23/17
10/23
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18:07
Hot Stocks
Lionsgate names Rohit Jain to head new office in Mumbai, India »

Lionsgate (LGF.A, LGF.B)…

LGF.A

Lionsgate

$29.59

-0.5 (-1.66%)

LGF.B

Lionsgate

$28.44

-0.6 (-2.07%)

DISH

Dish

$48.98

-0.32 (-0.65%)

VDTH

Videocon d2h

$8.00

-0.22 (-2.68%)

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ALE

Allete

$78.62

-0.31 (-0.39%)

18:06
10/23/17
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18:06
Hot Stocks
Wisconsin jury delivers verdict in favor of U.S. Water in Novozymes suit »

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SYT

Syngenta

$92.12

0.05 (0.05%)

, ADAM

A.D.A.M.

18:04
10/23/17
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18:04
Hot Stocks
Syngenta and Adama to sell portfolio of crop products to Nufarm for $490M »

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SYT

Syngenta

$92.12

0.05 (0.05%)

ADAM

A.D.A.M.

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DIS

Disney

$98.70

-0.7 (-0.70%)

17:54
10/23/17
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17:54
Periodicals
Disney sees new 'Thor' movie outpacing earlier ones, Bloomberg says »

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  • 09

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VIVO

Meridian Bioscience

$15.20

-0.6 (-3.80%)

17:31
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17:31
Hot Stocks
Meridian Bioscience comments on FDA Warning Letter issued to subsidiary »

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APRN

Blue Apron

$5.15

0.07 (1.38%)

17:30
10/23/17
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Blue Apron names Lainie Cooney chief HR officer »

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  • 02

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WSFS

WSFS Financial

$50.25

-0.5 (-0.99%)

17:29
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Hot Stocks
WSFS Financial raises quarterly dividend 29% to 9c per share »

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CONN

Conn's

$26.85

-0.75 (-2.72%)

17:28
10/23/17
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Hot Stocks
Conn's sees Q3 SSS down 9% to down 5%, provision for bad debts at $56M-$61M »

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WSFS

WSFS Financial

$50.25

-0.5 (-0.99%)

17:27
10/23/17
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Earnings
WSFS Financial reports Q3 EPS 64c, consensus 65c »

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VBTX

Veritex

$26.94

-0.17 (-0.63%)

17:27
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10/23
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Hot Stocks
Veritex names Michael Bryan chief information officer »

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  • 24

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TNDM

TNDM

17:25
10/23/17
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Breaking Hot Stocks news story on TNDM »

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  • 26

    Oct

CLB

Core Laboratories

$87.75

-1.74 (-1.94%)

17:21
10/23/17
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Hot Stocks
Core Laboratories sees Q4 free cash flow exceeding net income »

Fourth quarter 2017 FCF…

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  • 24

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CLB

Core Laboratories

$87.75

-1.74 (-1.94%)

17:20
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Earnings
Core Laboratories sees Q4 revenue approximately 58c, consensus 58c »

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  • 24

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CLB

Core Laboratories

$87.75

-1.74 (-1.94%)

17:18
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17:18
Earnings
Core Laboratories reports Q3 GAAP EPS 48c, consensus 44c »

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  • 24

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LKQ

LKQ Corp.

$37.06

-0.28 (-0.75%)

, DOV

Dover

$95.54

0.59 (0.62%)

17:17
10/23/17
10/23
17:17
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17:17
Hot Stocks
LKQ Corp to acquire aftermarket business of Dover subsidiary Warn Industries »

LKQ Corporation (LKQ)…

LKQ

LKQ Corp.

$37.06

-0.28 (-0.75%)

DOV

Dover

$95.54

0.59 (0.62%)

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  • 26

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KNL

Knoll

$20.00

-0.02 (-0.10%)

, HMST

HomeStreet

$28.60

-0.25 (-0.87%)

17:17
10/23/17
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Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS: Knoll…

KNL

Knoll

$20.00

-0.02 (-0.10%)

HMST

HomeStreet

$28.60

-0.25 (-0.87%)

CR

Crane

$83.61

-0.5 (-0.59%)

IPXL

Impax

$20.35

-0.9 (-4.24%)

ICPT

Intercept

$65.60

-1.25 (-1.87%)

SWK

Stanley Black & Decker

$158.19

-1.93 (-1.21%)

NKE

Nike

$53.66

0.6 (1.13%)

HNI

HNI Corporation

$42.29

-0.57 (-1.33%)

WHR

Whirlpool

$182.50

0.04 (0.02%)

ZION

Zions Bancorp

$46.39

-0.37 (-0.79%)

JBT

John Bean Technologies

$104.05

0.1 (0.10%)

IMDZ

Immune Design

CRBP

Corbus Pharmaceuticals

$7.40

-0.375 (-4.82%)

QURE

uniQure

$18.52

-0.75 (-3.89%)

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HBI

Hanesbrands

$22.86

-0.63 (-2.68%)

17:17
10/23/17
10/23
17:17
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17:17
Initiation
Hanesbrands initiated at Deutsche Bank »

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PVH

PVH Corp.

$129.68

1.37 (1.07%)

17:15
10/23/17
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17:15
Initiation
PVH Corp. initiated at Deutsche Bank »

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NYT

New York Times

$19.55

0.1 (0.51%)

17:15
10/23/17
10/23
17:15
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17:15
Hot Stocks
Breaking Hot Stocks news story on New York Times »

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USEG

U.S. Energy

$1.01

0.01 (1.00%)

17:07
10/23/17
10/23
17:07
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17:07
Hot Stocks
U.S. Energy announces participation in upcoming drilling program »

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