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TOSYY

Toshiba, also use TOSBF

$18.01

-0.25 (-1.37%)

, TOSBF

Toshiba, also use TOSYY

$3.00

-0.044 (-1.44%)

05:56
09/13/17
09/13
05:56
09/13/17
05:56

Toshiba signs memorandum with Bain Capital for sale of chip unit

Toshiba (TOSYY) said it has entered into a memorandum of understanding with Bain Capital, the lead member of a consortium currently bidding to acquire Toshiba Memory Corporation, memorializing the parties' intent to negotiate a mutually satisfactory definitive agreement for the sale of the unit by the end of this month. The decision to enter into the MOU was made by Toshiba's board at its meeting today. Toshiba added that it has been in continuing negotiations with three consortia of potential purchasers of Toshiba Memory: a consortium that includes the Innovation Network Corporation of Japan, Bain and Development Bank of Japan; a consortium that includes Western Digital (WDC); and a consortium that includes Hon Hai. In the course of these negotiations Bain has come forward with a new proposal. Toshiba's board has determined to continue negotiations with the Bain-led consortium on the basis of the new proposal, and the company "will work to expedite the conclusion of a stock purchase agreement by the end of September." Toshiba announces that it has accordingly entered into a non-binding MOU with Bain. The signing of this MOU does not eliminate the possibility of negotiations with other consortia. Shares of Western Digital are trading down 88c to $87.90 in premarket trading.

TOSYY

Toshiba, also use TOSBF

$18.01

-0.25 (-1.37%)

TOSBF

Toshiba, also use TOSYY

$3.00

-0.044 (-1.44%)

WDC

Western Digital

$88.78

1.4 (1.60%)

TOSYY Toshiba, also use TOSBF
$18.01

-0.25 (-1.37%)

05/18/17
UBSW
05/18/17
NO CHANGE
Target $21
UBSW
Buy
Marvell shares will outperform when company addresses trends, says UBS
UBS analyst Stephen Chin laid out three reasons why he still likes Marvell (MRVL) shares. He cited its strong balance sheet and a decision on either a big buyback or an acquisition soon; expectations for storage sales to continue to grow; and his view that the concerns about the possibility of a competitor buying Toshiba's (TOSBF) memory assets are overblown. The analyst feels Marvell's valuation remains attractive and once the company addresses concerns about fundamental trends in storage, the stock should outperform. Chin maintained his Buy rating and $21 price target on Marvell shares.
06/27/17
BTIG
06/27/17
NO CHANGE
BTIG
Western Digital fundamentals still 'quite strong,' says BTIG
BTIG analyst Edward Parker says that Western Digital's (WDC) "strong preliminary results" indicate that its "fundamentals remain quite strong." The analyst says he doesn't believe that Toshiba (TOSBF, TOSYY) can sell its share in the chip joint venture while Western Digital is seeking injunctive relief. He adds that the intensity of the battle over the joint venture shows that there is widespread optimism about the memory sector. He keeps a $120 price target and a Buy rating on Western Digital.
08/14/17
SBSH
08/14/17
UPGRADE
SBSH
Buy
Toshiba upgraded to Buy from Neutral at Citi
Citi analyst Kota Ezawa upgraded Toshiba to Buy saying the company's August 10 briefing indicated that there is reduced risk of additional WEC losses and the NAND business is generating "remarkably high profit." The probability of Toshiba rebuilding and remaining a going concern has increased significantly, the analyst tells investors in a research note. Ezawa now puts the possibility of Toshiba, delisting at less than 30%. The analyst has 430 yen price target for the shares.
08/23/17
COWN
08/23/17
NO CHANGE
Target $117
COWN
Outperform
Western Digital deal with Toshiba would eliminate overhang, says Cowen
Cowen analyst Karl Ackerman said a deal between Western Digital (WDC) and Toshiba (TOSBF) could be voted on by the end of August, which would remove an overhang on Western Digital shares. The analyst sees a deal being accretive through calendar year 2019 and also believes it would eliminate risks surrounding IP leakage and NAND technology leadership. Ackerman reiterated his Outperform rating and $117 price target on Western Digital shares.
TOSBF Toshiba, also use TOSYY
$3.00

-0.044 (-1.44%)

07/17/17
COWN
07/17/17
NO CHANGE
Target $117
COWN
Outperform
Western Digital successful bid for Toshiba unit would be accretive, says Cowen
Cowen analyst Karl Ackerman noted Western Digital (WDC) won three court victories in its case against Toshiba (TOSBF), which he sees strengthening its position to acquire the remaining 50% of its memory division. The analyst believes a successful bid would yield 10-15% accretion to earnings in 2018 and drive a higher multiple for Western Digital shares. Ackerman reiterated his Outperform rating and $117 price target on Western Digital.
09/12/17
RBCM
09/12/17
NO CHANGE
RBCM
Western Digital likely to hold minority stake in Toshiba, says RBC Capital
After Japanese newspaper Nikkan reported that a consortium which includes Western Digital (WDC) would buy Toshiba's (TOSBF) memory assets, RBC Capital analyst Amit Daryanani says that Western Digital will likely hold a minority stake in the assets, given anti-trust concerns. The analyst estimates that a 12%-13% stake would boost Western Digital's EPS by 25c-30c in 2018. Daryanani believes that the deal will be positive for the company as it will enable it to secure NAND bit capacity, prevent Foxconn/SK Hynix from getting the asset, and could boost its profits. He keeps a $115 price target and an Outperform rating on the stock.
WDC Western Digital
$88.78

1.4 (1.60%)

08/30/17
MAXM
08/30/17
NO CHANGE
Target $108
MAXM
Buy
Western Digital deal to buy Tegile another 'bold' move, says Maxim
Maxim analyst Nehal Chokshi said he has viewed Tegile as a leader in the hybrid storage array market since 2013 and he views Western Digital's deal to buy the company favorably. He thinks Western Digital will need to continue to build out its enterprise sales and marketing capability, which he estimates will require an incremental $0.5B investment over a 3-4 year period, but if the company does that he believes it will be able to successfully compete in the evolving IT systems market. Chokshi reiterates his Buy rating and $108 price target on Western Digital shares.
09/11/17
JEFF
09/11/17
DOWNGRADE
JEFF
Hold
Seagate downgraded to Hold from Buy at Jefferies
Jefferies analyst James Kisner downgraded Seagate Technology (STX) to Hold after his channel checks indicated the company may still be struggling with the ramp of its 10TB helium drives. The analyst is also hearing about about potential increased price competition in nearline. He cut his price target for Seagate shares to $29 from $40. Kisner maintains a Hold rating on Seagate peer Western Digital (WDC).

TODAY'S FREE FLY STORIES

JOE

Saint Joe Co.

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TYHT

Shineco

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-0.45 (-12.23%)

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ARCI

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RNVA

Rennova Health

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ARCI

Appliance Recycling

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Options
Preliminary option volume of 13.9M today »

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EKSO

Ekso Bionics

$1.28

0.14 (12.28%)

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UNH

UnitedHealth

$193.03

-2.18 (-1.12%)

, AET

Aetna

$153.57

0.18 (0.12%)

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UNH

UnitedHealth

$193.03

-2.18 (-1.12%)

AET

Aetna

$153.57

0.18 (0.12%)

ANTM

Anthem

$182.86

-0.64 (-0.35%)

CI

Cigna

$182.74

0.61 (0.33%)

AAPL

Apple

$151.89

-1.5 (-0.98%)

FSLR

First Solar

$51.41

2.65 (5.43%)

FINL

Finish Line

$9.73

0.51 (5.53%)

ASND

Ascendis Pharma

$34.24

6.5 (23.43%)

VSAR

Versartis

$2.68

-18.925 (-87.62%)

ICPT

Intercept

$61.59

-12.11 (-16.43%)

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DLR

Digital Realty

$114.51

-1.72 (-1.48%)

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Breaking Syndicate news story on Digital Realty »

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$NSD

NASDAQ Market Internals

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TSS

TSYS

$69.09

0.28 (0.41%)

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$NYE

NYSE Market Internals

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FB

Facebook

$170.54

-0.57 (-0.33%)

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IDA

IDACORP

$87.79

-0.73 (-0.82%)

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VLRX

Valeritas

$3.06

-0.23 (-6.99%)

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FB

Facebook

$170.54

-0.57 (-0.33%)

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DCIX

Diana Containerships

$0.42

-0.0373 (-8.16%)

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SEP

Spectra Energy Partners

$43.89

0.34 (0.78%)

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SEV

Sevcon

$22.04

0.04 (0.18%)

, BWA

BorgWarner

$50.00

0.41 (0.83%)

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Sevcon

$22.04

0.04 (0.18%)

BWA

BorgWarner

$50.00

0.41 (0.83%)

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ATOS

Atossa Genetics

$0.49

-0.0296 (-5.71%)

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CB

Chubb

$142.68

-0.27 (-0.19%)

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AAPL

Apple

$153.39

-2.68 (-1.72%)

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MRK

Merck

15:39
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Merck gets FDA approval for Keytruda »

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