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INTC

Intel

$47.48

2.04 (4.49%)

, XLNX

Xilinx

$80.43

2.13 (2.72%)

15:20
10/30/18
10/30
15:20
10/30/18
15:20

Microsoft said to pick Xilinx for Azure servers, Bloomberg reports

Chip maker Xilinx (XLNX) has reportedly won orders from Microsoft's (MSFT) Azure cloud unit, replacing chips from Intel (INTC), according to Bloomberg, citing people familiar with the matter.

INTC

Intel

$47.48

2.04 (4.49%)

XLNX

Xilinx

$80.43

2.13 (2.72%)

MSFT

Microsoft

$102.90

-1.19 (-1.14%)

  • 13

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    Nov

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    Nov

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    Mar

INTC Intel
$47.48

2.04 (4.49%)

10/26/18
LOOP
10/26/18
NO CHANGE
Target $80
LOOP
Western Digital price target cut to $80 from $145 at Loop Capital
Loop Capital analyst Ananda Baruah lowered his price target on Western Digital (WDC) to $80 after its Q1 earnings and revenue miss, saying the company is being impacted by "accelerated NAND average selling price declines, softening of Public Cloud Hyperscale demand, softer demand into China from macro issues, and Intel (INTC) chipset shortages". The analyst keeps his Buy rating in spite of the "kitchen sink thrown at Western Digital" given its efforts to reduce costs and support its gross margins but concedes that the outlook through the company's June 2019 quarter has "weakened considerably".
10/26/18
NOMU
10/26/18
NO CHANGE
Target $55
NOMU
Buy
Nomura calls Intel 'rose in the landfill,' ups price target to $55
In a post-earnings research note titled "A Rose in the Landfill," Nomura Instinet analyst Romit Shah raised his price target for Intel (INTC) to $55 from $50 and keeps a Buy rating on the shares. The chipmaker in premarket trading is down 6c to $44.25. The analyst continues to think that Intel shares are a long into the end of 2018 and potentially beyond. The company's results and outlook "stood out to us like a rose in a landfill" relative to the broader semiconductor sector, says Shah. He believes commentary around 2019 indicates that $5.00 in earnings per share "is doable, on fairly conservative revenue growth." This would put Intel below 10 times fiscal 2020 earnings estimates in after-hours trading, a nearly 50% discount to comparable large-cap tech stocks and Apple (AAPL), Shah contends.
10/26/18
ROTH
10/26/18
NO CHANGE
Target $60
ROTH
Buy
Intel price target cut to $60 from $65 at Roth Capital
Roth Capital analyst Suji Desilva maintained a Buy rating on Intel following the company's ahead of consensus Q3 report, telling investors in a research note that Intel is benefiting near-term from a richer mix driving above trend margins. He expects continued growth from data-centric business driving continued operating leverage and EPS gains. Desilva lowered his price target to $60 from $65 to reflect broader semiconductor stock weakness.
10/26/18
BNCH
10/26/18
NO CHANGE
Target $100
BNCH
Buy
Mellanox a 'prized' target for 'host of buyers,' says Benchmark
After CNBC reported that Mellanox (MLNX) has hired an advisor to explore strategic alternatives, including a possible sale, Benchmark analyst Gary Mobley said it is difficult to verify the story but he believes the company would "represent a prized M&A target for a host of buyers," including potentially Nvidia (NVDA), Intel (INTC), Broadcom (AVGO), Marvell (MRVL) and "even" IBM (IBM). The analyst, who added that Mellanox's "initial apathy" toward prior M&A talks with Marvell was part of the reason Starboard got involved, keeps a Buy rating on Mellanox shares with a $100 price target.
XLNX Xilinx
$80.43

2.13 (2.72%)

10/25/18
MKMP
10/25/18
NO CHANGE
Target $85
MKMP
Neutral
Xilinx price target raised to $85 from $78 at MKM Partners
MKM Partners analyst Ruben Roy raised his price target on Xilinx to $85 after its Q2 earnings beat and raised FY19 guidance. The analyst cites the company's key end market segments - Communications / Data Center & TME - increasing 33% and 28% from prior year respectively, and its Auto, Broadcast, and Consumer segments also posting "strong" double-digit y/y growth. Roy believes that Xilinx is "benefiting from various new product and end markets ramps as well as continued market share gains" but keeps his Neutral rating, saying its positive expectations are priced into the valuation on the stock.
10/26/18
10/26/18
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. L Brands (LB) initiated with a Buy at Goldman Sachs while Gap (GPS) was initiated with a Neutral. 2. Iridex (IRIX) initiated with a Buy at Stifel. 3. Xilinx (XLNX) assumed with a Market Perform at William Blair. 4. Novan (NOVN) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/18
WBLR
10/25/18
INITIATION
WBLR
Market Perform
Xilinx assumed with a Market Perform at William Blair
William Blair analyst Alessandra Vecchi assumed coverage of Xilinx with a Market Perform rating. The rating is unchanged from her firm's prior coverage.
10/18/18
GSCO
10/18/18
UPGRADE
Target $305
GSCO
Conviction Buy
Semi re-stack puts Nvidia on Goldman Conviction List with 25% upside
Goldman Sachs analyst Toshiya Hari this morning added Buy-rated Nvidia (NVDA) to his firm's Conviction List while lowering his price target for the shares to $305 from $324. The stock in morning trading is up 85c to $243.91. Following a "significant correction" in the stock's valuation, the analyst expects Nvidia's "idiosyncratic growth drivers," like its product cycle in Gaming and potential share gains in Data Center, to drive share outperformance. While lowering his January quarter earnings per share estimate to $1.90 from $2.28 to reflect potential volume and average selling price weakness in the Gaming business, Hari recommends investors to buy the stock at current levels with his long-term thesis intact. He sees potential upside of 25% for Nvidia shares. Positive earnings revisions post the Q3 earnings report should serve as a positive catalyst for the stock, contends the analyst. Putting Nvidia on his firm's Conviction List was part of Hari's rating re-stack in the Semiconductors sector. Also this morning, the analyst downgraded both Analog Devices (ADI) and Maxim Integrated Products (MXIM) to Sell from Neutral, downgraded Teradyne (TER) to Neutral from Buy, upgraded both Keysight Technologies (KEYS) and NXP Semiconductors (NXPI) to Buy from Neutral, and upgraded Texas Instruments (TXN) to Neutral from Sell. Hari also maintained a Conviction List Buy rating on Xilinx (XLNX) and a Sell rating on Intel (INTC).
MSFT Microsoft
$102.90

-1.19 (-1.14%)

10/29/18
WEDB
10/29/18
NO CHANGE
WEDB
IBM acquisition of Red Hat 'game changing,' says Wedbush
Wedbush analyst Daniel Ives notes that IBM (IBM) has announced a definitive deal in which it will be acquiring cloud player Red Hat (RHT) for $190 per share, thus representing an enterprise value of $34B in one of the biggest tech M&A deals ever. The analyst believes this is a "game changing" cloud acquisition that will have wide-reaching ramifications not just for IBM, but across the broader cloud and tech space and could spark an acceleration in M&A over the next 6 to 12 months. In his opinion, this was a major shot across the bow from IBM and Rometty to core cloud players such as Amazon (AMZN) Microsoft (MSFT), and Google (GOOG; GOOGL) that there is another player in town that plans to aggressively compete in this massive secular hybrid cloud shift. Further, Ives believes the combination of Red Hat and its Linux cloud platform with IBM could represent a "formidable" cloud behemoth for the coming years.
10/29/18
MSCO
10/29/18
NO CHANGE
MSCO
IBM deal reinforces Morgan Stanley confidence in Hybrid Cloud emergence
After IBM (IBM) announced its intention to acquire Red Hat (RHT) for about $34B in a deal with an over 60% premium to Red Hat's Friday closing price, Morgan Stanley analyst Keith Weiss said the announcement reinforced both his confidence in the emergence of Hybrid Cloud architectures and the strength of IT spending into 2019. Red Hat has been Microsoft's (MSFT) primary competitor within server operating systems, and has generally been taking share, said Weiss, who thinks the longer-term opportunity or threat for Microsoft hinges on the ability of IBM to execute well and maintain the open source enthusiasm around the Red Hat distributions. For VMware (VMW) and Pivotal Software (PVTL), while Weiss sees little near-term impact, he adds that the proposed combination would likely result in a fiercer competitive environment going forward. For New Relic (NEWR), he sees little direct competitive impacts from the proposed merger. Given HortonWorks' (HDP) strong existing ties to IBM, Cloudera (CLDR) could benefit by becoming a preferred data management vendor within the OpenShift ecosystem, Weiss added.
10/29/18
OPCO
10/29/18
NO CHANGE
OPCO
IBM/Red Hat may look to partner much more with Google, says Oppenheimer
Oppenheimer analyst Timothy Horan notes that IBM (IBM) and Red Hat (RHT) have lagged leaders such as Microsoft (MSFT), Amazon (AMZN), Google (GOOG; GOOGL) in the cloud. By merging, they are trying to improve their cloud position and Horan sees them looking to use the disruptive Container/Kubernetes to create a new hybrid cloud platform. Given how far behind they are in infrastructure, the analyst believes they may look to partner much more with Google, which is a threat to Microsoft more so than AWS. While Horan thinks the deal does open up an opportunity for a combined IBM/Red Hat to enter the market with a new service, they still have a long way to go before they can compete with Microsoft and Amazon in cloud.
10/29/18
STFL
10/29/18
DOWNGRADE
Target $190
STFL
Hold
Stifel downgrades Red Hat to Hold, but sees potential for competing bid
Stifel analyst Brad Reback downgraded Red Hat (RHT) to Hold from Buy after IBM (IBM) announced an agreement to acquire the company for $190 per share. Stating that he is not aware of any M&A talks, Reback added that he would not be surprised if a hyperscale cloud vendor such as Google (GOOGL), Amazon (AMZN), Microsoft (MSFT) or Oracle (ORCL) to make a competing bid given Red Hat's strategic position within on-premise datacenters. Reback raised his price target on Red Hat shares from $160 to the announced deal price of $190.

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LYB

LyondellBasell

$94.38

0.95 (1.02%)

, BAK

Braskem

$27.66

0.56 (2.07%)

12:30
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Periodicals
LyondellBasell close to presenting binding offer for Braskem, Reuters says »

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0.95 (1.02%)

BAK

Braskem

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PBR

Petrobras

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CTSH

Cognizant

$68.91

0.24 (0.35%)

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Call buying in Cognizant Tech as the company hosts an Investor Day Friday »

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BAK

Braskem

$27.74

0.64 (2.36%)

, LYB

LyondellBasell

$94.44

1.01 (1.08%)

12:26
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Breaking Hot Stocks news story on Braskem, LyondellBasell »

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Braskem

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LyondellBasell

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EADSY

Airbus

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12:25
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Periodicals
Airbus, Dassault plan to submit bid for early work on new jet, Reuters says »

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Conference/Events
UBS alternative energy analyst to hold an analyst/industry conference call »

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LYB

LyondellBasell

$94.48

1.05 (1.12%)

12:24
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12:24
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12:24
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LyondellBasell close to presenting binding offer for Braskem, Reuters says »

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XLB

S&P Select Materials SPDR

$54.66

-0.04 (-0.07%)

12:20
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Bearish option flow in Materials Sector ETF »

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More from Evans: the short-term policy rate is the first instrument »

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$NSD

NASDAQ Market Internals

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NYSE Market Internals

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AGN

Allergan

$157.34

-2.06 (-1.29%)

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NVDA

Nvidia

$166.50

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Applied Materials

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SONO

Sonos

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PCG

PG&E

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TRN

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ACHC

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JWN

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Williams-Sonoma

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JWN

Nordstrom

$51.02

-7.95 (-13.48%)

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WAIR

Wesco Aircraft

$9.54

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PCG

PG&E

$24.00

6.23 (35.06%)

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

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-0.735 (-15.59%)

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XME

SPDR S&P Metals & Mining

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0.15 (0.48%)

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$130.80

20.3 (18.37%)

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NGVC

Natural Grocers

$20.28

3.62 (21.73%)

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