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News For AVGO;BRCM;MU;INTC;KN;CY;NXPI;TXN;ADI From the Last 2 Days
Jun 19, 2018 | 08:54 EDT
HIGHER: Foundation Medicine (FMI), up 28% after announcing an agreement for Roche (RHHBY) to acquire the outstanding shares of Foundation Medicine at a price of $137 per share... Cotiviti Holdings (COTV), up 10% after a portfolio company of Veritas Capital agreed to acquire the company for $4.9B in cash, or $44.75 per share and the assumption of all of Cotiviti's outstanding debt... Celyad (CYAD), up 3% after announcing the first Acute Myeloid Leukemia, or AML, patient was dosed with the first injections at the third and final dose level of CYAD-01. LOWER: Tellurian (TELL), down 11% after its 12M share spot secondary offering priced at $9.90 per share... Acacia Communications (ACIA) is down 4%, NXP semiconductors (NXPI) is down 3% and Qualcomm (QCOM) is down 1.5% amid the escalating trade tensions between the U.S. and China.
Jun 18, 2018 | 10:01 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Redfin (RDFN) was downgraded to Sell from Neutral at Goldman Sachs while Zillow (Z, ZG) was downgraded to Neutral from Buy. 2. Dun & Bradstreet (DNB) downgraded to Neutral from Outperform at Baird with analyst Jeffrey Meuler saying he believes any potential take-out is already priced into the shares, the current valuation seems to limit potential upside, and the business requires more substantial changes to return it to sustainable organic growth. 3. Hibbett Sports (HIBB) downgraded to Underperform from Buy at BofA/Merrill analyst Rafe Jadrosich saying he expects negative same-store-sales declines in Q4 and continuing through 2020 as Hibbett laps the ecommerce launch and excess inventory clearance. 4. Cheesecake Factory (CAKE) downgraded to Neutral on valuation at BTIG with analyst Peter Saleh citing recent share strength. 5. Intel (INTC) downgraded to Underperform from Market Perform at Northland. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Jun 18, 2018 | 09:03 EDT
Evercore ISI analyst C.J. Muse offered his preview of Micron's earnings report on Wednesday, stating that he is looking for a "solid beat and raise" and noting that further compression of its already "very low multiple" is a "clear signal" of cyclical concerns. Muse, who is now modeling August quarter EPS of $3.35 and raised his CY18 EPS estimate to $12.55, increased his price target on Micron shares to $100 from $80 and keeps an Outperform rating on the shares.
Jun 18, 2018 | 06:47 EDT
JPMorgan analyst Harlan Sur remains positive on Micron Technology heading into the company's fiscal Q3 earnings report this week following. The analyst notes that Friday marked the seventh consecutive positive revision to JPMorgan's near/mid-term global memory model. The analyst views the model as a good leading indicator for financial and stock performance. Sur anticipates Mircon driving "strong" free cash flow generation over the next few years. He keeps an Overweight rating on the shares with an $82 price target.
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