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BRCD

Brocade

$12.25

0.06 (0.49%)

, AVGO

Broadcom

$256.92

1.73 (0.68%)

06:22
08/24/17
08/24
06:22
08/24/17
06:22

China conditionally approves Broadcom's proposed acquisition of Brocade

In a regulatory filing, Brocade (BRCD) said that as previously reported, on November 2, 2016, Brocade entered into an Agreement and Plan of Merger with Broadcom (AVGO) pursuant to which Broadcom agreed to acquire the company. Broadcom Corporation subsequently assigned all of its rights under the Merger Agreement to LSI Corporation on December 19, 2016. On August 22, 2017, the Ministry of Commerce of the People's Republic of China issued a written notice that it has granted conditional approval of the proposed acquisition contemplated by the Merger Agreement pursuant to the Anti-Monopoly Law of the People's Republic of China. Brocade expects that the Merger will be completed during its fourth fiscal quarter ending October 28, 2017, assuming the timely satisfaction or waiver of the other closing conditions set forth in the Merger Agreement, including clearance from the Committee on Foreign Investment in the United States.

BRCD

Brocade

$12.25

0.06 (0.49%)

AVGO

Broadcom

$256.92

1.73 (0.68%)

  • 24

    Aug

  • 24

    Aug

BRCD Brocade
$12.25

0.06 (0.49%)

08/21/17
OPCO
08/21/17
NO CHANGE
Target $275
OPCO
Outperform
Oppenheimer remains a buyer of Broadcom ahead of results
Oppenheimer analyst Rick Schafer notes Broadcom (AVGO) reports Q3 results Thursday and sees upside to consensus revenue/EPS estimates. Furthermore, the analyst sees near-term momentum driven by the company's wired segment as Jericho/Tomahawk routing/switching products ramp, supporting cloud/DC demand and a continued shift to merchant silicon. Schafer expects the Brocade (BRCD) acquisition to be about $1-plus accretive, yet small enough for continued capital return growth and/or additional M&A. He reiterates an Outperform rating and $275 price target on Broadcom's shares.
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.
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).
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.
AVGO Broadcom
$256.92

1.73 (0.68%)

08/23/17
ADAM
08/23/17
NO CHANGE
Target $300
ADAM
Buy
Broadcom price target raised to $300 from $272 at Canaccord
Canaccord analyst T. Michael Walkley raised his price target on Broadcom to $300 from $272 ahead of Q3 earnings. The analyst said Broadcom is potentially increasing its iPhone platform content by as much as 40%. Steady iPhone sales ahead of its September launch and the anticipation of a strong 2018 upgrade cycle will drive Broadcom to record earnings, said Walkley, who reiterated his Buy rating on the shares.
08/22/17
JPMS
08/22/17
NO CHANGE
Target $300
JPMS
Overweight
Broadcom set up to beat Q3 expectations, says JPMorgan
JPMorgan analyst Harlan Sur predicts Broadcom will report Q3 revenues, margins, EPS, and free cash flow that will all be better than the firm's and consensus expectations, citing strong spending by cloud data center customers and the ramp-up of its new products. The analyst, who views the company's new product pipeline as strong and expects estimates to move up, reiterate his Overweight rating and $300 price target on Broadcom ahead of the company's report due on Thursday.
08/21/17
DBAB
08/21/17
NO CHANGE
Target $275
DBAB
Buy
Broadcom should report 'solid' results and guidance, says Deutsche Bank
Deutsche Bank analyst Ross Seymore said he expects Broadcom to report "solid" Q3 results and Q4 guidance and recommends owning the stock as he views the company as strongly positioned to benefit from a content increase in the upcoming iPhone and from long-term secular growth from the shift to the cloud. He keeps a Buy rating and $275 price target on Broadcom shares.
08/21/17
KEYB
08/21/17
NO CHANGE
KEYB
Broadcom should be bought opportunistically into earnings, says KeyBanc
KeyBanc analyst John Vinh recommends being "opportunistic buyers" ahead of Broadcom's (AVG) Q3 results. Vinh says that Broadcom is one of the companies that is best positioned to benefit from the launch of Apple's (AAPL) iPhone 8. The analyst adds that the close of Broadcom's acquisition of Brocade should also be a key catalyst for Broadcom in 2H17.

TODAY'S FREE FLY STORIES

UAA

Under Armour; also tag UA

$13.63

-1.49 (-9.85%)

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General news
Treasury Closing Summary: »

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LVS

Las Vegas Sands

$72.58

1.56 (2.20%)

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HMST

HomeStreet

$32.35

1 (3.19%)

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HUM

Humana

$270.41

2.39 (0.89%)

15:45
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Options
Humana call volume above normal and directionally bullish »

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USB

U.S. Bancorp

$57.46

0.48 (0.84%)

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U.S. Bancorp names CEO Andy Cecere chairman of the board »

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  • 17

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LADR

Ladder Capital

$14.53

0.94 (6.92%)

15:39
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15:39
Upgrade
Ladder Capital rating change  »

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ONCE

Spark Therapeutics

$52.66

-1.41 (-2.61%)

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  • 26

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PX

Praxair

$161.26

-2.89 (-1.76%)

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Options
$6M option print in Praxair as shares deflate »

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  • 25

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CGI

Celadon Group

$6.20

-0.4 (-6.06%)

15:26
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Periodicals
Celadon Group mentioned cautiously again by Prescience Point 

Reference Link

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RGSE

RGS Energy

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MGM

MGM Resorts

$36.09

1.06 (3.03%)

15:20
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Options
Notable spread in MGM as shares rally »

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$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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CLR

Continental Resources

$56.93

-0.73 (-1.27%)

15:15
01/16/18
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Options
Continental Resources put volume heavy and directionally bearish »

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  • 16

    Jan

OLED

Universal Display

$196.60

-1.2 (-0.61%)

15:05
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Options
Universal Display call volume above normal and directionally bullish »

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  • 17

    Jan

FRME

First Merchants

$44.20

0.31 (0.71%)

15:05
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First Merchants announces company-wide raise, bonuses »

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  • 25

    Jan

CEO

CNOOC

$159.15

-2.1 (-1.30%)

15:04
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VRX

Valeant

$22.95

-0.8911 (-3.74%)

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UL

Unilever; also tag UN

$54.99

0.47 (0.86%)

, UN

Unilever; also tag UL

$56.07

0.575 (1.04%)

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Bernstein European HPC analyst holds an analyst/industry conference call »

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UL

Unilever; also tag UN

$54.99

0.47 (0.86%)

UN

Unilever; also tag UL

$56.07

0.575 (1.04%)

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  • 16

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BTC

Bitcoin

, BITCOIN

Bitcoin

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Bitcoin

BITCOIN

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OSTK

Overstock.com

$78.95

-1.65 (-2.05%)

AMD

AMD

$12.02

-0.12 (-0.99%)

NVDA

Nvidia

$222.98

-1.1 (-0.49%)

SQ

Square

$38.71

-2.545 (-6.17%)

MARA

Marathon Patent Group

$4.17

0.33 (8.59%)

GBTC

Bitcoin Investment Trust

$1,970.00

261.995 (15.34%)

LBCC

Long Blockchain Corp.

$5.02

-0.48 (-8.73%)

KODK

Kodak

$8.38

-0.8249 (-8.97%)

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  • 26

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  • 30

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XLRE

Real Estate SPDR

$31.50

0.305 (0.98%)

, XLU

Utilities SPDR

$50.12

-0.14 (-0.28%)

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Technical Analysis
Technical Take: S&P 500 breaks support, sector breadth negative »

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XLRE

Real Estate SPDR

$31.50

0.305 (0.98%)

XLU

Utilities SPDR

$50.12

-0.14 (-0.28%)

XLP

Consumer Staples Sector SPDR

$56.86

0.205 (0.36%)

XLK

Technology Select Sector SPDR

$66.51

-0.3 (-0.45%)

XLF

Financial Select Sector

$29.06

-0.17 (-0.58%)

XLY

Consumer Discretionary Sector SPDR

$104.21

-0.82 (-0.78%)

XLB

S&P Select Materials SPDR

$62.43

-0.965 (-1.52%)

XLE

Energy Select Sector SPDR

$76.46

-0.9599 (-1.24%)

SPY

SPDR S&P 500 ETF Trust

$276.69

-1.23 (-0.44%)

SPX

S&P 500

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CL

Colgate-Palmolive

$75.51

0.89 (1.19%)

14:55
01/16/18
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Options
Colgate Palmolive put volume heavy and directionally bearish »

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14:55
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Conference/Events
Stephens real estate services analyst holds an analyst/industry conference call »

Analysts, along with Jeff…

BPI

Bridgepoint Education

$8.32

-0.24 (-2.80%)

14:54
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Calm Waters Partnership reports 5.9% passive stake in Bridgepoint Education »

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