TTM Technologies (NASDAQ:TTMI) has agreed to acquire rival circuit board maker Viasystems (NASDAQ:VIAS) for more than $250M, WSJ reports. The cash and stock deal will likely be announced as soon as today.
The two recorded roughly $2.5B in combined sales in 2013.
Stratasys (SSYS +1.5%) has been started at Buy by Goldman, and 3D Systems (DDD -3.1%) at Neutral. Shares of both companies (like those of many high-beta tech names) were clobbered last week. UBS issued similar opinions for Stratasys and 3D Systems two weeks ago.
VMware (VMW +1.3%) has received a two-notch upgrade to Outperform from CLSA ahead of its April 22 Q1 report.
F5 (FFIV +4.1%) has been upgraded to Buy by Stifel. Q1 results arrive on April 23.
Palo Alto Networks (PANW +1.2%) has been upgraded to Overweight by both Barclays and Stephens.
TTM Technologies (TTMI +3.1%) has been upgraded to Buy by Stifel and UBS.
CalAmp (CAMP +1.7%) has been upgraded to Buy by B. Riley.
STMicroelectronics (STM -2.3%) has been cut to Sell by UBS. Q1 results arrive on April 29.
AudioCodes (AUDC +4.1%) has been started at Buy by Needham. Shares rose last week after the Israeli government approved an R&D program involving the company.
ChannelAdvisor (ECOM +1.2%) has been started at Buy by Janney.
Paylocity (PCTY +1.4%) has received five bullish ratings and one neutral rating on underwriter coverage day. Q2 (QTWO +3.1%) has received six bullish ratings.
TriQuint (TQNT +6.9%) has been upgraded to Buy by Needham after beating Q4 estimates and providing soft Q1 guidance that's most likely the result of Apple order cuts (widely expected). Shares are shooting higher after trading lower AH yesterday.
Level 3 (LVLT +4.5%) has been upgraded to Buy by Canaccord and D.A. Davidson after providing strong guidance in its Q4 report yesterday.
Veeco (VECO +4.7%) has been upgraded to Overweight by JPMorgan.
Intelsat (I +4.9%) has been upgraded to Outperform by Wells Fargo.
Peregrine Semi (PSMI -0.7%) has been upgraded to Outperform by RBC a day after selling off in the wake of a Q4 miss.
TTM Technologies (TTMI -1.8%) has been cut to Neutral by Longbow Research after providing light Q1 guidance to go with a Q4 beat.
Jabil (JBL -10%) ended up adding to the AH losses it saw yesterday in response to the below-consensus FQ1 guidance provided with its FQ4 beat. Contract manufacturing peers Sanmina (SANM -2.3%), Flextronics (FLEX -1.3%), Multi-Fineline (MFLX -1.9%), and TTM Technologies (TTMI -1.6%) fell moderately.
Contributing to Jabil's losses: the company disclosed on its FQ4 CC it's "faced with a strong possibility of disengaging with BlackBerry (BBRY -0.8%)" on account of the company's struggles.
BlackBerry accounted for 12% of Jabil's FY13 revenue. Thanks to an estimated $0.28-$0.34/share hit from an expected BlackBerry wind-down, Jabil has set an FY14 EPS guidance range of $2.36-$2.60, soundly below a $2.85 consensus.
Apple accounted for 19% of Jabil's FY13 revenue, and could make up over 20% of FY14 sales thanks to the expected BlackBerry drop.