The US Supreme Court says States can enforce taxation of online business, a blow to Amazon, while Amazon's $13 billion per year in lobbying expenses is the subject of a big WSJ story, Micron price targets soar after its upbeat quarterly report as analysts continue to wonder when memory-chip downturn will come, Intel's CEO Krzanich steps down even as its manufacturing is in a slump and its bench of talent is depleted, and Goldman Sachs gives thumbs up to Lumentum and Verizon.
In a conversation with Barron's following better-than-expected quarterly results from Micron Technology, the CEO of the memory-chip maker, Sanjay Mehrotra, said the company's focus on reducing the cost of manufacturing and selling more and more products that are of higher value is paying off. Micron shares were up almost 3% in late trading.
Oracle made a big mistake changing its financial reporting and obscuring its cloud progress according to both bulls and bears, Synaptics surges as it says its in talks to merge with Dialog Semi, Tesla is rumored to have made about 6,000 of its Model 3 sedan this month thus far as it tries to reach its stretch goal of 5,000 per week, AT&T is in talks to buy ad-tech firm AppNexus, Walt Disney ups its bid for assets of 21st Century Fox in the face of Comcast's challenge, AMD has both risk and reward in its "Vega" graphics chips according to Bernstein, and Micron is set to report results after the bell.
Shares of chip giant Nvidia (NVDA) are up 24 cents to $265.50, in late trading, after S&P Dow Jones Indices this afternoon announced that its stock will join the S&P 100 index as of June 20, replacing Time Warner, which today closed its acquisition by AT&T (T). Nvidia, already a member of the S&P 500, is a […]
Avalara is the latest cloud darling to hit public markets, up 66% on its debut, AMD shares are rising as the chip maker gets thumbs up from two analysts for its improving prospects relative to Intel, Apple's iPhone plans are assessed and the shifting outlook pushes down shares of OLED supplier Universal Display, bulls on Adobe stock say there's nothing to worry about in the muted reaction to its quarterly results, the Trump Administration increases tariffs on Chinese goods but the other shoe, export controls, has yet to drop, and Qualcomm stock rises on speculation China has decided to bless its proposed acquisition of NXP Semi.
Adobe stock was down over 3% in late trading despite its quarterly results and outlook topping expectations. Shares of fiber-optics chip maker Finisar, and of contract manufacturer Jabil, both rose despite mixed reports from the two companies.
Microsoft and EA both are in focus as they make big gaming announcements at the annual E3 convention, Match Group can survive Facebook's roll-out of dating features according to Brent Thill of Jefferies, Intel's facing "stiff competition" in server chips from AMD because of its manufacturing slip-ups, and Facebook's Instagram photo-sharing service is on track to $9 billion of revenue from advertising this year and perhaps $22 billion by 2020 according to KeyBanc's Andy Hargreaves.
Broadcom shares declined Friday as its quarterly results showed the continued effect of a weaker smartphone market. The reaction of bulls on the stock ranged from dismissing concerns to arguing for modest expectations.
Shares of Cirrus Logic, Skyworks Solutions and other Apple suppliers drop on word the iPhone may see 20% lower production rates this year compared to last, Snap is a work in press according to Aegis Capital's Victor Anthony, Verizon names a new CEO, PayPal has expanding opportunities with Visa and MasterCard collaborations, the chorus is rising about slowing sales of chip equipment, and the market for storage equipment using flash-based storage is on fire accordion to Morgan Stanley's Katy Huberty.
DocuSign, the recently public provider of authentication software, surged in late trading on better-than-expected quarterly results, as did online apparel recommendation service Stitch Fix. Shares of chip giant Broadcom, however, slumped amidst a report that lived up to diminished expectations.
Lumentum said CFO CFO, Aaron Tachibana has resigned after three years to "pursue other interests." He was thanked by the company's CEO for his contributions, and the departure does not indicate any financial performance issues, the company said.
Google's ambitions for its custom chip designs now apparently stretch beyond its "TPU" chips to whole server computers custom-built for cloud computing, according to Susquehanna analyst Mehdi Hosseini.
Lam Research stock is down 6% as Evercore says the company could be hit by delays in buying equipment by customer Samsung, Zscaler soars 24% as its first results as a public company beat expectations, Chinese equipment maker ZTE gets a reprieve from the U.S. Commerce Department that should be good news for chip makers, Okta is one cloud software maker whose results are driving price target increases, MongoDB stock is down as its fails to show operating profit leverage, and Jamie Dimon and Warren Buffett take to the airwaves to urge companies not to make forecasts.
Tesla CEO Elon Musk sends some encouraging "body language" at the company's shareholder meeting, Ambarella shares plunge as the video-chip maker's outlook disappoints expectations, Twitter deserves the imprematuer of the S&P 500 according to one bull, Arista shows off new networking gear with novel programmable switches, and Micron is in the market's voting machine.
Twitter bounces 5% on news it will enter the S&P 500, reactions are mixed to Apple's developer conference, developers voice concerns about Microsoft's intended purchase of open-source community GitHub, and Broadcom is trading cheaply in advance of its earnings report Thursday.
A 40% jump in shares of Micron Technology over the course of 3 weeks means sentiment has swung to being too optimistic, writes Morgan Stanley's Joseph Moore as he cuts the stock to the equivalent of a Hold. He sees risk of big price drops in NAND flash later this year, and possibly for DRAM in 2019.
Micron shares are down 5% as Morgan Stanley's Joseph Moore sees lackluster trends for NAND flash chips the rest of this year, Ciena stock is rising after a revenue beat and raised outlook this morning, Box drops 9% as its results fail to impress, Tech Data surges 7% on better-than-expected results and outlook, and Uber's CEO Khosrowshahi says the company is "on track" for an IPO next year.
A conference organized by New Street Partners's Pierre Ferragu on Wednesday explored the many possible directions for artificial intelligence chips.
Apple better get set for a lackluster 2019 according to Maxim Group, HP shares jump 4% but many bulls remain worried about soft overall trends in PCs and printing, Smartphones are set for only very modest growth for years to come, Salesforce stock rises on multiple price target increases, and memory-chip trends look continue to be favorable for Micron Technology according to analyst Weston Twigg at KeyBanc.
Acacia Communications, the fiber-optic chip supplier, has been heat with repeated bad news over the last year, including a ban on sales to one of its biggest customers, China's ZTE. Rosenblatt analyst Ryan Koontz starts coverage of the stock with a Buy, predicting the clouds may finally be parting.