| Friday | ||||
Huawei Technologies and… Huawei Technologies and two of its U.S. subsidiaries have been charged with racketeering conspiracy and conspiracy to steal trade secrets in a new federal indictment, The Wall Street Journal's Corinne Ramey and Kate O'Keeffe report. The new indictment builds on allegations the U.S. leveled in January 2019 accusing Huawei of financial fraud and violating U.S. sanctions on Iran. Huawei suppliers include Micron Technology (MU) and Western Digital (WDC), while makers of optical components, including Oclaro (OCLR), Acacia Communications (ACIA), NeoPhotonics (NPTN), Lumentum (LITE), and Finisar (IIVI), have previously reacted negatively to headlines regarding U.S. enforcement actions and allegations against China's Huawei. Reference Link | ||||
| Thursday | ||||
Goldman Sachs to hold a conference »
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Goldman Sachs Technology… Goldman Sachs Technology & Internet Conference 2020 will be held in San Francisco on February 11-13. | ||||
| Wednesday | ||||
Goldman Sachs to hold a conference »
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Goldman Sachs Technology… Goldman Sachs Technology & Internet Conference 2020 will be held in San Francisco on February 11-13. | ||||
| Tuesday | ||||
Goldman Sachs to hold a conference »
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Goldman Sachs Technology… Goldman Sachs Technology & Internet Conference 2020 will be held in San Francisco on February 11-13. | ||||
| Over a week ago | ||||
Catch up on the top… | ||||
U.S. Attorney General… U.S. Attorney General William Barr says the U.S. and its allies should consider investing in Nokia (NOK) and Ericsson (ERIC), or both firms, to counter Huawei's dominance in next generation 5G telecoms technology, Reuters' Mark Hosenball, David Brunnstrom and Chris Sanders report. "We and our closest allies certainly need to be actively considering this approach," Barr said in a speech to a Washington think tank conference on China." Huawei suppliers include Micron Technology (MU) and Western Digital (WDC), while makers of optical components, including Oclaro (OCLR), Acacia Communications (ACIA), NeoPhotonics (NPTN), Lumentum (LITE), and Finisar (IIVI), have previously reacted negatively to headlines regarding U.S. enforcement actions and allegations against China's Huawei. Reference Link | |
Argus analyst Jim… Argus analyst Jim Kelleher raised his price target on Western Digital to $82 and kept his Buy rating after its Q2 earnings beat and above-consensus guidance for Q3. The analyst expects the swing to positive annual comparisons to start in the current quarter. Kelleher also adds that while he is not making any assumptions regarding the impact of the coronavirus, which can have negative consequences for the company's end markets, prior viral outbreaks had been "contained without meaningful long-term damage to global technology trade." | |
Western Digital (WDC)… Western Digital (WDC) announced that its subsidiary Western Digital Technologies has entered into a definitive agreement to sell its ActiveScale business to Quantum (QMCO). Under the agreement, Quantum will acquire Western Digital's full line of ActiveScale products. The transaction is expected to close by the end of this quarter, March 31, subject to the satisfaction of customary closing conditions. Financial terms of the transaction were not disclosed. | |
Quantum (QMCO) announced… Quantum (QMCO) announced it has entered into an agreement with Western Digital Technologies, a subsidiary of Western Digital (WDC), to acquire its ActiveScale object storage business. The addition of the ActiveScale product line and talent brings object storage software and erasure coding technology to Quantum's portfolio, and enables the company to expand in the object storage market. Quantum and Western Digital are committed to executing a smooth transition for customers and key stakeholders, with Quantum providing post-closing continued support for ActiveScale products and a strong commitment to invest in - and enhance - the ActiveScale product line. The transaction is expected to close by March 31, subject to the satisfaction of customary closing conditions. Financial terms of the transaction were not disclosed. Quantum expects the initial financial impact of the transaction to be neutral to slightly accretive to current business operations and additional guidance will be provided with the release of the fiscal Q4 2020 financial results. | |
RBC Capital analyst Mitch… RBC Capital analyst Mitch Steves raised his price target on Western Digital to $85 and kept his Outperform rating after its Q2 earnings beat and above-consensus guidance for Q3. The analyst cites the company's view of improving NAND environment at a higher rate than it anticipated and expectations of doubling enterprise SSD revenue, with added upside coming from flash demand in gaming starting in June of this year. |