Market Currents

• Monday, December 7, 2009

• 09:04 AM Nvidia (NVDA) and Advanced Micro Devices (AMD) reveling in Intel's (INTC) failure to produce a consumer version of its much-touted, much-delayed multi-core graphics chip Larrabee. NVDA +11% premarket to $15.79. AMD +3.7% to $8.15. Comment!
• 09:00 AM Premarket gainers: ROY +47%. NVDA +11%. NYB +9%. TRA +9%. ASIA +9%. SNTS +6%. CTIC +6%. KERX +6%. SNV +5%. AKAM +5%. S +5%. SEED +5%. VG +4%. AMD +4%. SPWRA +4%.
  Losers: ALTH -11%. RBS -5%. CAL -5%. Comment!

• Sunday, December 6, 2009

• 18:08 PM Intel (INTC) kills plans to sell a consumer version of its much-touted, much-delayed multi-core graphics chip - Larrabee - which was supposed to to open a new front of competition with Nvidia (NVDA) and AMD (AMD), and says it will provide an update about future versions some time next year. Nvidia: "The fact that a company with Intel's technical prowess and financial resources has struggled so hard to succeed with parallel computing shows just how exceptionally difficult a challenge this is." 1 Comment

• Friday, November 20, 2009

• 17:10 PM With a billion-dollar-plus settlement with Intel (INTC) inked, [[AMD]] reverses earlier salary cuts for top executives, returning hundreds of thousands of dollars in compensation. 3 Comments

• Thursday, November 12, 2009

• 09:10 AM AMD (AMD) and Intel (INTC) settle their antitrust and patent disputes, resulting in a new 5-year cross license agreement, and a $1.25B payment from Intel to AMD. Both will forgo any previous claims. Premarket: INTC -0.4%. AMD +24%. (PR) Comment!

• Wednesday, November 11, 2009

• 15:55 PM AMD (AMD +4.1%) says its key chip design business should be profitable next year and expects no problems with its debt load of $3.2B. "We're going to turn into a cash-flow-generating machine," says CEO Dirk Meyer. "I can already hear the cash registers starting to ring, which is wonderful." The company wants to keep $1B cash on hand and otherwise retire debt. 1 Comment

• Monday, November 2, 2009

• 08:55 AM Hector Ruiz to resign as chairman of chipmaker Globalfoundries after reports the former AMD (AMD) chief was implicated in the Galleon insider trading scandal. 1 Comment

• Tuesday, October 27, 2009

• 19:30 PM The Wall Street Journal reports that the unnamed Advanced Micro Devices (AMD) executive alleged in a criminal case to have shared inside info with a Galleon Group defendant is Hector Ruiz, former chairman and CEO. He reportedly passed info to ex-Bear Stearns trader Danielle Chiesi. 2 Comments

• Friday, October 16, 2009

• 09:00 AM Premarket gainers: TRGT +23%. SPPI +7%. FAZ +6%.
  Losers: MTG -14%. MEA -7%. AMD -6%. FAS -6%. BAC -6%. SHO -5%. AIB -5%. CIT -5%. ING -4%. PMI -5%. IBM -5%. SNY -4%. AEG -4%. MT -4%. GNW -4%. SYMC -4%. Comment!

• Thursday, October 15, 2009

• 16:19 PM Advanced Micro Devices (AMD): Q3 EPS of -$0.26 beats by $0.16. Revenue of $1.4B (-22%) vs. $1.26B. Sees Q4 product revenue up modestly. Shares +2.4% AH. (PR) Comment!
• 00:10 AM Notable post-market earnings: AMD, GOOG, IBM, PBCT, PLCM, TPX Comment!

• Wednesday, October 14, 2009

• 09:00 AM Premarket gainers: CNO +22%. BMTI +12%. UEC +11%. ACAS +10%. PLUG +7%. FAS +6%. RTP +5%. CIEN +5%. BCS +5%. AMR +5%. AMD +5%. CRH +5%. CATY +5%. INTC +4%. ACLS +4%. CY +4%. HGSI +4%. ONNN +4%. TSFG +4%. MT +4%. GNW +4%. JPM +4%. UBS +4%. RBS +4%. ALTR +4%. NVDA +4%. STD +4%. HIG +4%. LYG +4%. GNW +4%. CTIC +4%. STM +4%. PIR +4%.
  Losers: UCBH -11%. 2 Comments

• Thursday, October 8, 2009

• 09:15 AM Advanced Micro Devices (AMD +2%) names Thomas Seifert as CFO to succeed Robert Rivet, who is moving to COO. Seifert was most recently COO and CFO at Qimonda. Comment!

• Friday, October 2, 2009

• 09:00 AM Premarket gainers: CIT +8%. HEB +4%.
  Losers: AEG -8%. PCX -7%. HOV -7%. PGH -7%. ING -6%. AIB -6%. FIG -6%. MGM -6%. CVM -6%. LVS -5%. LYG -5%. RTP -5%. FRE -5%. ALU -5%. CNO -4%. SYN -4%. F -4%. FNM -4%. AMD -4%. RF -4%. ABK -4%. HIG -4%. SVA -4%. MU -4%. NOK -4%. Comment!

• Tuesday, September 29, 2009

• 17:55 PM With markets up almost 50% since March, fund managers are generally treading carefully. Here are some stocks the group says may still have some juice: Commodities (RIG, STLD), healthcare (ABT, GILD), business spending (AMD, ASML), and top fliers that were left behind (BMY, VZ, WMT). 1 Comment

• Tuesday, September 22, 2009

• 15:10 PM The global PC market is rebounding more quickly than expected, and could defy predictions by growing this year, Intel (INTC) chief Paul Otellini says. Since declaring PC sales had bottomed in April, Otellini has been more aggressive in his forecasts than even Intel's biggest customers. INTC +0.4%. AMD +5.3%. Comment!