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AVGO

Broadcom

$253.42

-0.27 (-0.11%)

, CSCO

Cisco

$32.34

0.25 (0.78%)

14:08
08/17/17
08/17
14:08
08/17/17
14:08

FTC approves final order on Broadcom's acquisition of Brocade

Following a public comment period, the Federal Trade Commission has approved a final order designed to remedy the anticompetitive effects resulting from Broadcom's (AVGO) acquisition of Brocade Communications Systems (BRCD). Under the consent order, Broadcom is required to implement firewalls preventing the flow of Cisco's (CSCO) confidential business information outside of a group of relevant Broadcom employees. The order requires Broadcom's business group responsible for developing, producing, selling and marketing fibre channel ASICs for Cisco to have separate facilities and a separate information technology system with security protocols that allow access only to authorized individuals, and provides for other information firewall protections. The Commission will appoint a monitor to assure compliance.

AVGO

Broadcom

$253.42

-0.27 (-0.11%)

CSCO

Cisco

$32.34

0.25 (0.78%)

BRCD

Brocade

$12.24

0.03 (0.25%)

  • 24

    Aug

  • 24

    Aug

AVGO Broadcom
$253.42

-0.27 (-0.11%)

07/18/17
LEHM
07/18/17
DOWNGRADE
Target $55
LEHM
Underweight
Cirrus Logic downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Blayne Curtis downgraded Cirrus Logic (CRUS) to Underweight saying the company's content story "stalls" in fiscal year 2019. While estimates are achievable for this year, the Apple (AAPL) supply chain offers clearer iPhone 8 content stories like Broadcom (AVGO), Cutis tells investors in a research note. He keeps a $55 price target for Cirrus shares.
08/02/17
OPCO
08/02/17
NO CHANGE
OPCO
Supply chain to react positively following Apple results, says Oppenheimer
Oppenheimer analyst Rick Schafer expects the Apple (AAPL) supply chain to react positively, as Apple's guidance likely implies limited impact from any possible launch/production delays. Within the company's supply chain, the analyst continues to prefer content increase stories helping insulate from any demand softness versus expectations. His top picks in the Apple supply chain are content-driven growth stories Broadcom (AVGO) and Skyworks (SWKS). Schafer remains on the sidelines on Cirrus Logic (CRUS) and Qorvo (QRVO) heading into their respective prints tomorrow.
08/17/17
RBCM
08/17/17
NO CHANGE
RBCM
Broadcom results, guidance poised to beat expectations, says RBC Capital
RBC Capital analyst Amit Daryanani says that Broadcom (AVGO) "is positioned" to report better than expected results for its July quarter and provide better than expected guidance for its October quarter, " driven by positive catalysts that are boosting its wireless and wired businesses. Among the company's near-term positive catalysts are the iPhone ramp and "custom ASIC ramps with Google (GOOG,GOOGL) and others," according to Daryanani. He keeps a $270 price target and a Top Pick rating on Broadcom.
08/17/17
MSCO
08/17/17
NO CHANGE
Target $290
MSCO
Overweight
Broadcom risk/reward attractive into earnings,says Morgan Stanley
Morgan Stanley analyst Craig Hettenbach said Broadcom risk/reward is attractive ahead of the July quarter report on August 24. The analyst said the iPhone 8 cycle could drive 6% upside to his wireless estimate and believes the Street is underestimating the wireless outlook for the October and January quarters. In storage, Hettenbach expects the Purley ramp to offset weakness in HDDs and sees tailwinds. Hettenbach is forecasting July quarter earnings of $4.07 versus consensus of $4.03, and revenues of $4.482B versus consensus of $4.456B.
CSCO Cisco
$32.34

0.25 (0.78%)

08/17/17
WELS
08/17/17
NO CHANGE
WELS
Cisco 'slowly moving in right direction,' says Wells Fargo
Wells Fargo analyst Jess Lubert says that Cisco's Q4 results were "healthy" and show that the company is "slowly moving in the right direction." The analyst thinks that the company's sales will rise by low single digit percentage levels, while its profits should rise, enabling "the stock to work." Calling the company's guidance "conservative," she keeps a $37.50 price target and an Outperform rating on the shares.
08/17/17
BARD
08/17/17
NO CHANGE
Target $38
BARD
Outperform
Cisco value seen at current levels, says Baird
Baird analyst Jayson Noland noted Cisco reported in line Q4 results and guidance was OK considering the shift to a subscription revenue model. The shift is a near-term revenue challenge but a strong long-term positive for the company. He said he continues to see value in Cisco shares at current levels. Noland reiterated his Outperform rating and $38 price target on Cisco shares.
08/17/17
UBSW
08/17/17
NO CHANGE
Target $37
UBSW
Buy
Cisco stock likely range bound following Q4 results, says UBS
UBS analyst Steven Milunovich noted Cisco reported a slight Q4 earnings beat offset by lower margins and inline guidance. The analyst feels the stock will be range bound for now given its low cloud exposure and a transition to recurring software revenue that reduces reported revenue growth. Milunovich maintained his Buy rating and $37 price target on Cisco shares.
08/17/17
PIPR
08/17/17
NO CHANGE
Target $36
PIPR
Overweight
Cisco transition impacting near-term sales growth, says Piper Jaffray
Piper Jaffray analyst Troy Jensen says Cisco Systems last night reported "modest upside" versus July quarter consensus, and guided relatively in line for the October quarter. The analyst continues to believe the company's transition to more of a software based model is impacting near-term revenue growth and he expects year-over-year declines to continue for the next few quarters. Jensen, however, still believes Cisco's stock looks attractive at current levels given the "healthy balance sheet and attractive dividend yield." He also believes a cash repatriation bill would be a potential catalyst. Jensen keeps an Overweight rating on Cisco with a $36 price target.
BRCD Brocade
$12.24

0.03 (0.25%)

05/22/17
COWN
05/22/17
NO CHANGE
Target $115
COWN
Outperform
Western Digital most strategic buyer of Flash Ventures, says Cowen
Cowen analyst Timothy Arcuri revisited the likelihood of Western Digital (WDC) acquiring the remaining roughly 50% share of Toshiba (TSOBF) Flash Ventures. He believes the deal would be accretive by 10-15% in 2018 and said they remain the most strategic of buyers for the division. Arcuri views Hynix and Micron (MU) as much less likely bidders due to antitrust review, while any deal with Broadcom (AVGO) would have to most likely be backed by fixed economics with Apple (AAPL) or related to Toshiba's discrete/system LSI assets in a Brocade-like (BRCD) deal. Arcuri reiterated his Outperform rating and $115 price target on Western Digital shares.
05/31/17
LOOP
05/31/17
NO CHANGE
Target $270
LOOP
Buy
Broadcom price target raised to $270 ahead of earnings at Loop Capital
Loop Capital analyst Betsy Van Hees raised her price target on Broadcom (AVGO) to $270 from $251 ahead of the company's Q2 earnings report due out tomorrow, noting that she expects the results to beat consensus expectations and for the company's Q3 guidance to be largely in-line with her above-consensus forecast. Van Hees maintains a Buy rating on Broadcom shares and recommends investors keep adding to positions, citing the benefits from its previous acquisition and the pending deal for Brocade (BRCD).
06/05/17
CHLM
06/05/17
NO CHANGE
Target $12.5
CHLM
Buy
Extreme Networks set to enter top 3 in enterprise networking, says Craig-Hallum
Craig-Hallum analyst Christian Schwab noted that Extreme Networks (EXTR) is poised to become the third largest enterprise networking vendor - behind Cisco (CSCO) and HP Enterprise (HPE) - post the closing of its deals with Avaya and Brocade (BRCD). Management has introduced a FY18 target for revenue of over $1B and, combined with its just revealed margin targets, Extreme should be earning 90c-95c per share annually, estimated Schwab, who reiterates his Buy rating and $12.50 price target on the stock following the company's analyst day.
01/18/17
NEED
01/18/17
NO CHANGE
Target $35
NEED
Buy
ARRIS likely among bidders for Brocade Networking business, says Needham
Following a press report suggesting ARRIS (ARRS) was one of multiple bidders for the Networking business of Brocade (BRCD), which Broadcom (AVGO) has stated its intention to sell, Needham analyst Richard Valera says he sees it as likely that the former will be a bidder in this process given recent ARRIS' management comments regarding its desire to make another acquisition. The analyst sees the business as being a "decent fit" for ARRIS and likely "substantially accretive" to his current EPS estimates. He reiterates a Buy rating and $35 price target on ARRIS' shares.

TODAY'S FREE FLY STORIES

BBBY

Bed Bath & Beyond

$27.30

-1.37 (-4.78%)

15:04
09/19/17
09/19
15:04
09/19/17
15:04
Options
Bed Bath & Beyond options imply 13.2% move in share price post-earnings, above median historical move »

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  • 19

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IO

ION Geophysical

$9.75

0.05 (0.52%)

15:03
09/19/17
09/19
15:03
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15:03
Conference/Events
ION Geophysical management to meet with Evercore ISI »

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UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

, WIN

Windstream

$2.01

-0.03 (-1.47%)

15:02
09/19/17
09/19
15:02
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15:02
Hot Stocks
S&P downgrades Uniti Group to 'B' on downgrade of Windstream »

S&P Global Ratings…

UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

WIN

Windstream

$2.01

-0.03 (-1.47%)

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  • 02

    Oct

WIN

Windstream

$2.01

-0.03 (-1.47%)

, UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

15:02
09/19/17
09/19
15:02
09/19/17
15:02
Recommendations
Windstream, Uniti Group analyst commentary  »

Windstream, Uniti selloff…

WIN

Windstream

$2.01

-0.03 (-1.47%)

UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

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  • 02

    Oct

MIK

Michaels

$21.13

-0.36 (-1.68%)

15:00
09/19/17
09/19
15:00
09/19/17
15:00
Options
Call buyers in Michaels Companies »

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WIN

Windstream

$2.01

-0.03 (-1.47%)

14:59
09/19/17
09/19
14:59
09/19/17
14:59
Hot Stocks
S&P downgrades Windstream to 'B' with negative outlook »

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RDNT

RadNet

$11.10

-0.05 (-0.45%)

14:59
09/19/17
09/19
14:59
09/19/17
14:59
Hot Stocks
RadNet VP Linden sells 18,000 shares of company stock »

RadNet VP Jeffrey Linden…

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  • 28

    Sep

14:51
09/19/17
09/19
14:51
09/19/17
14:51
General news
Mexico Bolsa market halts trading following earthquake, Bloomberg reports »

Equities, fixed income,…

FDX

FedEx

$215.92

0.84 (0.39%)

14:49
09/19/17
09/19
14:49
09/19/17
14:49
Options
Fedex options imply 4.7% move in share price post-earnings, above median historical move »

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  • 19

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UBNT

Ubiquiti

$50.62

-4.335 (-7.89%)

14:47
09/19/17
09/19
14:47
09/19/17
14:47
Technical Analysis
Technical View: Ubiquiti heading down in late afternoon trading »

The shares have been…

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  • 26

    Sep

  • 28

    Nov

VLO

Valero

$72.67

0.47 (0.65%)

14:44
09/19/17
09/19
14:44
09/19/17
14:44
Periodicals
Valero says responding to fire at Port Arthur refinery, Reuters reports »

Valero has confirmed that…

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  • 26

    Oct

UBNT

Ubiquiti

$50.62

-4.335 (-7.89%)

14:42
09/19/17
09/19
14:42
09/19/17
14:42
Recommendations
Ubiquiti analyst commentary  »

Most Citron points on…

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  • 26

    Sep

  • 28

    Nov

REV

Revlon

$17.15

1.15 (7.19%)

14:40
09/19/17
09/19
14:40
09/19/17
14:40
Hot Stocks
Revlon jumps after majority shareholder Perelman says won't take private »

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GLNG

Golar LNG

$21.04

-0.41 (-1.91%)

14:35
09/19/17
09/19
14:35
09/19/17
14:35
Options
Golar LNG put volume heavy and directionally bearish »

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EWW

iShares MSCI Mexico

$55.84

-0.07 (-0.13%)

14:31
09/19/17
09/19
14:31
09/19/17
14:31
Hot Stocks
Breaking Hot Stocks news story on iShares MSCI Mexico »

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ICON

Iconix Brand

$5.88

0.19 (3.34%)

14:29
09/19/17
09/19
14:29
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14:29
Initiation
Iconix Brand initiated  »

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  • 28

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14:26
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General news
Puebla, Mexico hit by 7.1 magnitude earthquake »

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$NSD

NASDAQ Market Internals

14:17
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Technical Analysis
NASDAQ market internals summary »

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SAIC

SAIC

$64.20

0.92 (1.45%)

14:16
09/19/17
09/19
14:16
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14:16
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SAIC moving into initial production phase for Marines' AAV SU program »

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$NYE

NYSE Market Internals

14:16
09/19/17
09/19
14:16
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14:16
Technical Analysis
NYSE market internals summary »

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UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

14:15
09/19/17
09/19
14:15
09/19/17
14:15
Options
Uniti Group put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 02

    Oct

POR

Portland General Electric

$46.57

0.21 (0.45%)

14:15
09/19/17
09/19
14:15
09/19/17
14:15
Recommendations
Portland General Electric analyst commentary  »

Portland General Electric…

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VOLVY

Volvo

14:01
09/19/17
09/19
14:01
09/19/17
14:01
Periodicals
Volvo to expand South Carolina production plant, CNBC reports »

Volvo is adding an…

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PETS

PetMed Express

$35.81

0.25 (0.70%)

13:55
09/19/17
09/19
13:55
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13:55
Hot Stocks
PetMed lower after unverified Twitter user mentions SEC investigation »

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BBY

Best Buy

$53.68

-3.6695 (-6.40%)

13:55
09/19/17
09/19
13:55
09/19/17
13:55
Conference/Events
Best Buy to host investor day »

Investor Day to be held…

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  • 19

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