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AVGO

Broadcom

$202.46

-7.45 (-3.55%)

, CA

CA Technologies

$44.07

-0.08 (-0.18%)

12:50
07/14/18
07/14
12:50
07/14/18
12:50

Broadcom testing investors' faith, Barron's says

For a while, shareholders of Broadcom (AVGO) had reasons to crow as the stock price appreciated 560% from late 2013 through the end of last year, Tiernan Ray writes in this week's edition of Barron's. But last week, CEO Hock Tan dropped a bombshell, announcing the company would spend $19B in cash to buy CA (CA), which prompt a wave of stock downgrades as it turns out faith in Tan came with conditions, the report notes. Tan appears to be signaling that reasonable M&A targets may be exhausted, Ray adds. Reference Link

AVGO

Broadcom

$202.46

-7.45 (-3.55%)

CA

CA Technologies

$44.07

-0.08 (-0.18%)

AVGO Broadcom
$202.46

-7.45 (-3.55%)

07/12/18
RHCO
07/12/18
NO CHANGE
Target $63
RHCO
Buy
CA Technologies buyout could be positive for Okta, says SunTrust
SunTrust analyst Terry Tillman said Broadcom's (AVGO) acquisition of CA Technologies (CA) could present a potential disruption of the business and lead to incremental share gains by Okta (OKTA) in the multiple segments of identity and access management markets where the two compete. The distractions that come from a large buyout like this could drive share gains and billings activity for Okta "relatively quickly," Tillman tells investors. He reiterates a Buy rating and $63 price target on Okta shares.
07/13/18
BMOC
07/13/18
DOWNGRADE
BMOC
Market Perform
Broadcom downgraded to Market Perform from Outperform at BMO Capital
07/13/18
BMOC
07/13/18
DOWNGRADE
Target $230
BMOC
Market Perform
Broadcom downgraded to Market Perform at BMO Capital after CA acquisition
As reported earlier, BMO Capital analyst Ambrish Srivastava downgraded Broadcom (AVGO) to Market Perform from Outperform and slashed his price target to $230 from $345. The analyst points to its decision to acquire CA Technologies (CA), a company with half of its business in decline, being "so far out of the company's core competency and inconsistent with the company's recent messaging, that it raises more questions than answers". Srivastava adds that while Broadcom has a decent history of "acquiring underperforming semi assets, aggressively cutting costs, and integrating the acquisitions", he says it would be "presumptuous" to expect a repeat of that pattern in software given CA's declining mainframe business.
07/13/18
07/13/18
DOWNGRADE

Market Perform
Broadcom downgraded to Market Perform on strategy change at Raymond James
As previously reported, Raymond James downgraded Broadcom (AVGO) to Market Perform from Strong Buy. Analyst Chris Caso said Broadcom's acquisition of CA Technologies (CA) signals the company is taking a different path towards strategy than what the company led investors to expect a year ago. Caso said the company's revised strategy seeks to consolidate a broader areas of technology, pursuing slower growth, high cash flow businesses, rather than returning cash to shareholders and pursuing smaller deals after successfully consolidating the networking semiconductor industry. Broadcom's new strategy carries increased risks, and will pressure Broadcom's multiple, Caso wrote in a note to investors.
CA CA Technologies
$44.07

-0.08 (-0.18%)

07/12/18
07/12/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. UBS CUTS NETFLIX TO NEUTRAL: UBS analyst Eric Sheridan downgraded Netflix (NFLX) to Neutral while raising his price target for the shares to $425 from $375. The stock has appreciated 35% since the Q1 earnings report and 117% year-to-date, Sheridan told investors in a research note. The analyst said he believes the shares already reflect a 40 times GAAP EBITDA multiple on 2022 estimates. In addition to valuation, Sheridan does not see the "pronounced upside" to Monday's Q2 results relative to prior quarters. B RILEY FBR ALSO CAUTIOUS ON NETFLIX: Searches for new Netflix shows slowed to flattish versus the year-ago period, and year-over-year growth in global searches for the term "Netflix" also slowed somewhat, B. Riley FBR analyst Barton Crockett told investors in a research note. Amid heightened expectations, the analyst finds the flattish search volume as "potentially cautionary." The analyst reiterated a Neutral rating on Netflix with a $313 price target. After the cautious notes, Netflix is down almost 2% in late morning trading. GOLDMAN SACHS RAISES TWITTER TARGET: Goldman Sachs analyst Heath Terry raised his price target on Twitter (TWTR) to $55 and kept his Buy rating, saying that despite the run-up in the stock price year-to-date, consensus expectation on the company continue to underestimate its drive to increase and better monetize user engagement. The analyst contended that despite trading at a higher valuation on enterprise value to expected FY19 EBITDA, its growth rate justifies the premium. BROADCOM DOWNGRADED FOLLOWING CA DEAL: B. Riley FBR analyst Craig Ellis downgraded Broadcom (AVGO) to Neutral and lowered his price target for the shares to $245 from $308 following the company's acquisition of CA Technologies (CA). The deal adds strategic and operational uncertainty, Ellis tells investors in a research note. RBC Capital analyst Amit Daryanani also downgraded Broadcom, to Outperform from Top Pick, and lowered his price target to $300 from $330 after its acquisition of CA Technologies. The analyst noted that the deal places Broadcom "in the penalty box from a valuation expansion perspective", stating that while it offers "strong accretion" and provides a "foundation to perhaps scale its model beyond traditional semiconductor sector", it is also entering a market where it has limited history, likely tempering investor optimism on the stock going forward. Broadcom shares were also downgraded by analysts at Longbow, Macquarie and B. Riley FBR following last night's deal announcement.

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T

AT&T

$30.30

0.18 (0.60%)

, FOX

21st Century Fox

$47.73

-0.1 (-0.21%)

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T

AT&T

$30.30

0.18 (0.60%)

FOX

21st Century Fox

$47.73

-0.1 (-0.21%)

FOXA

21st Century Fox

$48.18

-0.11 (-0.23%)

AMZN

Amazon.com

$1,593.59

-26.41 (-1.63%)

CMCSA

Comcast

$38.60

0.11 (0.29%)

CMCSK

Comcast

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.46

-0.12 (-0.72%)

F

Ford

$9.05

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GM

General Motors

$35.76

0.21 (0.59%)

HMC

Honda

$28.21

0.01 (0.04%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$116.87

-0.02 (-0.02%)

VLKAY

Volkswagen

$0.00

(0.00%)

NYT

New York Times

$26.30

-0.2 (-0.75%)

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NVS

Novartis

$87.74

0.52 (0.60%)

, DBVT

DBV Technologies

$16.70

0.31 (1.89%)

04:55
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Conference/Events
American College of Allergy, Asthma & Immunology to hold a meeting »

2018 ACAAI Meeting will…

NVS

Novartis

$87.74

0.52 (0.60%)

DBVT

DBV Technologies

$16.70

0.31 (1.89%)

REGN

Regeneron

$345.10

3.56 (1.04%)

SHPG

Shire

$175.59

-3.39 (-1.89%)

TEVA

Teva

$22.25

-0.37 (-1.64%)

SNY

Sanofi

$45.11

0.56 (1.26%)

GSK

GlaxoSmithKline

$40.35

-0.06 (-0.15%)

AZN

AstraZeneca

$40.67

-0.685 (-1.66%)

CHD

Church & Dwight

$65.42

-0.39 (-0.59%)

BSX

Boston Scientific

$37.22

0.75 (2.06%)

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MSI

Motorola Solutions

$129.97

0.72 (0.56%)

18:48
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11/16
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18:48
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Motorola Solutions: ITC confirms Hytera products infringe Motorola patents »

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PCG

PG&E

$24.39

6.62 (37.25%)

18:23
11/16/18
11/16
18:23
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18:23
Periodicals
CPUC isn't ruling out board shuffle, breakup for PG&E, Bloomberg says »

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ABX

Barrick Gold

$13.04

0.05 (0.38%)

18:00
11/16/18
11/16
18:00
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18:00
Periodicals
Barrick Gold looking to add more copper, bullion assets, Reuters reports »

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WTR

Aqua America

$33.05

0.165 (0.50%)

17:57
11/16/18
11/16
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17:57
Hot Stocks
Aqua America CEO acquires over 25,000 common shares »

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XLRE

Real Estate SPDR

$33.45

0.445 (1.35%)

, XLB

S&P Select Materials SPDR

$55.23

0.53 (0.97%)

17:39
11/16/18
11/16
17:39
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17:39
General news
Week ending ETF scorecard: Real Estate leads, Consumer Discretionary slumps »

S&P500 SECTORS: Real…

XLRE

Real Estate SPDR

$33.45

0.445 (1.35%)

XLB

S&P Select Materials SPDR

$55.23

0.53 (0.97%)

XLU

Utilities SPDR

$54.86

0.77 (1.42%)

XLI

Industrial Select Sector SPDR

$72.00

(0.00%)

XLV

Health Care Select Sector SPDR

$92.05

0.91 (1.00%)

XLF

Financial Select Sector

$26.78

0.03 (0.11%)

XLP

Consumer Staples Sector SPDR

$56.04

0.15 (0.27%)

XLE

Energy Select Sector SPDR

$67.23

0.76 (1.14%)

XLC

Communication Services Select Sector SPDR Fund

$44.88

-0.2 (-0.44%)

XLK

Technology Select Sector SPDR

$68.22

-0.1 (-0.15%)

XLY

Consumer Discretionary Sector SPDR

$106.37

-0.43 (-0.40%)

GLD

SPDR Gold Shares

$115.56

0.82 (0.71%)

SLV

iShares Silver Trust

$13.55

0.115 (0.86%)

USO

United States Oil Fund

$12.07

0.08 (0.67%)

UNG

United States Natural Gas Fund

$35.43

3.63 (11.42%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$83.24

-0.27 (-0.32%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$111.73

0.23 (0.21%)

TLT

iShares 20+ Year Treasury Bond Fund

$114.65

0.61 (0.53%)

IEF

iShares 7-10 Year Treasury Bond ETF

$101.13

0.3 (0.30%)

SHY

iShares 1-3 Year Treasury Bond

$83.13

0.08 (0.10%)

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AQST

Aquestive Therapeutics

$17.02

0.23 (1.37%)

17:36
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Hot Stocks
Aquestive receives CRL from FDA for tadalafil oral film »

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DAKT

Daktronics

$7.67

0.07 (0.92%)

17:35
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Daktronics adopts new shareholder rights agreement »

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  • 21

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TI

Telecom Italia

$6.02

0.12 (2.03%)

17:33
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Periodicals
Gubitosi viewed as frontrunner for Telecom Italia CEO job, Reuters says »

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MAXR

Maxar Technologies

$18.77

-0.59 (-3.05%)

17:30
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Hot Stocks
Maxar Technologies shareholders approve U.S. domestication »

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PLUG

Plug Power

$1.83

(0.00%)

17:28
11/16/18
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Syndicate
Breaking Syndicate news story on Plug Power »

Plug Power files to sell…

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GSB

GlobalSCAPE

$4.55

-0.02 (-0.44%)

17:22
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Syndicate
Breaking Syndicate news story on GlobalSCAPE »

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EQIX

Equinix

$388.18

2.67 (0.69%)

17:19
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Hot Stocks
Equinix's Lee sells 2,792 common shares »

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LMT

Lockheed Martin

$301.06

-4.42 (-1.45%)

17:17
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Lockheed Martin awarded $282.09M Naval Sea Systems Command contract »

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TLGT

Teligent

$2.56

0.045 (1.79%)

17:16
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Hot Stocks
Teligent receives notification of deficiency from Nasdaq »

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STAF

Staffing 360 Solutions

$1.82

0.07 (4.00%)

17:16
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Syndicate
Breaking Syndicate news story on Staffing 360 Solutions »

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IMMR

Immersion

$9.56

-0.14 (-1.44%)

17:12
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Breaking Hot Stocks news story on Immersion »

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ATNX

Athenex

$11.95

0.74 (6.60%)

17:10
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Breaking Hot Stocks news story on Athenex »

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TSRO

Tesaro

$34.96

8.39 (31.58%)

17:08
11/16/18
11/16
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17:08
Recommendations
Tesaro analyst commentary at Piper Jaffray »

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  • 03

    Dec

EEI

Ecology & Environment

$10.50

-2 (-16.00%)

17:05
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Hot Stocks
Ecology & Environment receives noncompliance notice from Nasdaq »

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AEE

Ameren

$69.29

0.01 (0.01%)

16:58
11/16/18
11/16
16:58
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16:58
Hot Stocks
Ameren exec Nelson sells $690,000 worth of common shares »

Ameren SVP, general…

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EQS

Equus II Inc

$1.86

(0.00%)

16:56
11/16/18
11/16
16:56
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16:56
Hot Stocks
Equus II Inc reports net assets of $46.6M as of September 30 »

Equus Total Return…

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VAPO

Vapotherm

$17.10

-0.42 (-2.40%)

16:56
11/16/18
11/16
16:56
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16:56
Hot Stocks
Breaking Hot Stocks news story on Vapotherm »

Redmile Group reports…

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  • 14

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COTY

Coty

$9.09

0.39 (4.48%)

16:55
11/16/18
11/16
16:55
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16:55
Hot Stocks
Coty CEO acquires 2.3M common shares »

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