at MarketWatch.com (Sat, 10:31AM)
at CNBC.com (Wed, 12:36PM)
Business Wire (Wed, 12:00PM)
at MarketWatch.com (Tue, 4:19PM)
at MarketWatch.com (Mon, 4:24PM)
at Fox Business (Mon, 11:15AM)
at CNBC.com (Dec 14, 2013)
at CNBC.com (Dec 13, 2013)
at MarketWatch.com (Dec 13, 2013)
at Fox Business (Dec 13, 2013)
at CNBC.com (Dec 12, 2013)
Business Wire (Dec 12, 2013)
at CNBC.com (Dec 11, 2013)
Business Wire (Dec 9, 2013)
at MarketWatch.com (Dec 7, 2013)
at MarketWatch.com (Dec 6, 2013)
at CNBC.com (Dec 6, 2013)
at MarketWatch.com (Dec 5, 2013)
Business Wire (Dec 4, 2013)
at MarketWatch.com (Dec 3, 2013)
at MarketWatch.com (Sat, 10:31AM)
at CNBC.com (Wed, 12:36PM)
at MarketWatch.com (Tue, 4:19PM)
at MarketWatch.com (Mon, 4:24PM)
at Fox Business (Mon, 11:15AM)
We are the world’s largest semiconductor chip maker, based on revenue. We develop advanced integrated digital technology products, primarily integrated circuits, for industries such as computing and communications. Integrated circuits are semiconductor chips etched with interconnected electronic... More
Tuesday, Dec 176:55 PM
Tuesday, Dec 176:55 PM| 9 Comments
- Morningstar's Ultimate Stock Pickers latest list of top 10 dividend yielding stocks is led by Philip Morris (PM), "a cash-generating machine... fortified by a bevy of powerful brands, a global manufacturing and distribution system, and... an addictive product set."
- While 2014 is seen as an investment spending year at McDonald's (MCD), at least one analyst was reassured by the recent analyst day presentation which balanced discussions about growth and capacity initiatives with talk about returning value to shareholders.
- Other selections: GSK, VOD, LLY, COP, INTC, MRK, UN, CVE.
Friday, Dec 136:31 PM
Friday, Dec 136:31 PM| 11 Comments
- With ARM-based (ARMH +2.6%) CPUs currently having a minimal presence in the massive server CPU market, a report that Google is thinking of developing its own ARM-based server CPUs has gone over well with ARM investors.
- In addition to Google, Facebook has shown an interest in ARM. A recent post from a Facebook developer suggests the company is working to port some of its internal software for use with ARM CPUs.
- AppliedMicro (AMCC -4.6%), an early leader in the ARM server CPU space (courtesy of its X-Gene chips), wound up selling off after opening higher. There may be concerns Google will open-source its CPU designs to help foster a broader ecosystem for them, as it has done with many pieces of software. AMD, Marvell, and private Calxeda are also targeting the ARM server CPU market.
- Intel (INTC -0.7%), whose server CPU division had a $1.39B Q3 op. profit on the back of 12% Y/Y rev. growth, finished down modestly. Google/Facebook would act as big reference wins for ARM, which still face major software ecosystem challenges as it tries to grow its server presence. Intel is trying to counter ARM with its low-power Avoton Atom server CPUs.
- FBR, which just started coverage on ARM with an Outperform, thinks ARM-based designs could grab 10% of the server CPU market by 2018, thanks to a 50% share in the fast-growing microserver segment.
Friday, Dec 134:25 PM
Friday, Dec 134:25 PM| Comment!
- Bloomberg reports Verizon (VZ -0.6%) is close to a deal to acquire Intel's (INTC -0.7%) TV unit, whose planned Web TV service never got off the ground. Intel was previously reported to be asking $500M for the unit.
- Verizon is once more said to be interested in using Intel's TV assets, which include set-top software and cloud DVR tech, to launch a Web TV service of its own in areas not covered by FiOS. The broadband/pay-TV providers whose networks Verizon will have to leverage to offer the service won't be thrilled to hear that.
- The report's timing coincides with that of a WSJ report stating Sprint is thinking of launching a bid for T-Mobile USA in 1H14. Verizon investors have taken the report in stride.
- Previous: Verizon, T-Mobile reportedly close to spectrum deal
Friday, Dec 135:13 AM
Friday, Dec 135:13 AM| 21 Comments
- Google (GOOG) is reportedly thinking about designing its own server processors using technology from ARM Holdings (ARMH).
- The idea is that with its own chips, Google could better better manage the interaction between hardware and software.
- The move could hurt Intel (INTC), which earns over 4% of its revenue from the search giant, and which has a 95% share of the market for server chips that use PC processors. The company has been hoping that rising demand for the components will offset the slump in the PC market.
Thursday, Dec 129:56 AM
Thursday, Dec 129:56 AM| Comment!
- Intel (INTC +1.1%) has been upgraded to Neutral by Nomura. Citi and Drexel Hamilton upgraded shares last Friday.
- Micron (MU +2%) has been upgraded to Buy by Nomura. Shares fell yesterday following an MKM report stating SK Hynix's Wuxi, China fab will be operational sooner than expected.
- Xilinx (XLNX +1.7%) has been upgraded to Buy by Nomura. In addition, both Xilinx and rival Altera (ALTR +0.6%) have been started at Outperform by JMP.
- iRobot (IRBT +2.2%) has been upgraded to Neutral by JPMorgan.
- Synchronoss (SNCR +6.8%) has been upgraded to Strong Buy by Raymond James.
- Teradata (TDC -2%) has been cut to Sector Perform by RBC. Shares are making new 52-week lows.
- Texas Instruments (TXN -0.7%) and SanDisk (SNDK -2.3%) have been cut to Reduce by Nomura. TI provided an in-line mid-quarter update on Monday, while SanDisk fell in tandem with Micron yesterday.
- Sigma Designs (SIGM -17.8%) has been cut to Hold by Needham after missing FQ3 estimates.
- Progress Software (PRGS -7.5%) has been cut to Market Perform by JMP.
Saturday, Dec 710:30 AM
Saturday, Dec 710:30 AM| 41 Comments
- Barron's top 10 stock picks for 2014 shows an affinity for low P/E ratios, with 6 of the group sporting multiples of 10 or lower. The 2013 picks - which are up 35.2% on average, 900 bps ahead of the S&P 500 - had five names with single-digit P/Es. This year's list:
- A depressed play on a depressed commodity, don't be surprised if Barrick Gold (ABX) gets the attention of an activist investor next year.
- Up just 11% YTD, Canadian Natural Resources' (CNQ) free cash flow is set to quintuple to $5B in 2018 once the Horizon oil-sands facility expansion is completed.
- A rising world population needs food. At less than 10x earnings, Deere (DE) is the kind of company Warren Buffett might like to buy if it became available. "Stranger things have happened," writes Andrew Bary.
- Even after gaining 55% YTD, MetLife (MET) sells for less than 10x 2014 EPS and just above book value, but bigger gains are ahead once the company is given regulatory permission to buy back stock and boost its dividend. Met's also a good hedge against rising rates, as life insurers will benefit by having higher yields to invest in.
- The rest: Citigroup (C), GM, Intel (INTC), Nestle (NSRGY, NSRGF), Simon Property (SPG), U.S. Airways (LCC).
Friday, Dec 66:41 PM
Friday, Dec 66:41 PM| 2 Comments
- IDC estimates server sales fell 3.7% Y/Y in Q3. That's a modest improvement from Q2's estimated 6.2% drop, but hardly a figure that will bring cheer to industry players. Gartner estimates revenue fell 2.1% in Q3 vs. 3.8% in Q2.
- The embrace by Web/cloud giants of home-grown servers produced by Asian contract manufacturers (ODMs) continues to upend the industry. IDC thinks sales of such servers rose 45% Y/Y, and now make up 6.5% of industry revenue. It estimates nearly 4/5 of these sales came from the U.S., largely from Google, Facebook, Amazon, and Rackspace.
- #1 H-P (HPQ), which recently reported encouraing enterprise hardware numbers, is assigned a 28.1% share (+150 bps Y/Y) by IDC. #2 IBM, whose total Q3 hardware sales fell 17% Y/Y, is given a 23.4% share (-430 bps).
- Newly-private Dell had a 16.2% share (-40 bps, a reversal from recent gains), Cisco (CSCO - still seeing strong UCS server demand) a 5% share (+170 bps), and Oracle (ORCL - hurt by SPARC/UNIX server weakness) a 4.1% share (-60 bps).
- In a positive for Intel (INTC), x86 servers took share once again, with sales rising 2.8% and making up 79% of industry revenue. Red Hat (RHT) is likely pleased to see Linux servers now make up 28% of industry revenue. Windows (MSFT) servers made up 50%, and UNIX servers just 11%.
- H-P is the leader in the x86 server market (32.3% share), as well as in the growing blade server (43.6%) and density-optimized server (30.7%) markets. There's a decent amount of overlap between the x86 and blade/density-optimized markets.
Friday, Dec 69:57 AM
Friday, Dec 69:57 AM| 2 Comments
- Citi and Drexel Hamilton have both upgraded Intel (INTC +3%) to Buy. Citi's PT has been upped to $28, and DH's to $30.
- Citi's Glen Yeung says he's encouraged by stabilizing corporate PC demand (noted by IDC/Gartner in their Q3 data, and also mentioned by Intel during its investor day), and notes Oct. retail point-of-sale data showed growth for the first time in nine months.
- Yeung also calls Intel's forecast for a 5% 2014 drop in PC units "sufficiently conservative." IDC currently expects PC shipments to drop 3.8% in 2014 (those estimates have a habit of changing frequently).
- Intel shares were clocked recently due to investor disappointment with the chip giant's investor day guidance. They currently trade at 12x 2014E EPS after backing out net cash/investments.
Tuesday, Dec 36:30 PM
Tuesday, Dec 36:30 PM| 4 Comments
- Intel (INTC) has acquired Hacker League, developer of a Web-based software platform for managing hackathons (intense, collaborative coding sessions beloved by many a tech company). TechCrunch reports the price tag is well below the $180M Intel paid for popular API management platform Mashery earlier this year.
- Hacker League's products will be integrated with Mashery's, with the goal of creating a richer set of tools for developers. Mashery's products are used in roughly 80 hackathons/year, and Hacker League has managed 460 of them since Oct. '11.
Tuesday, Dec 312:49 PM
Tuesday, Dec 312:49 PM| 5 Comments
- After forecasting in August global PC shipments would fall 9.7% Y/Y in 2013, IDC now estimates they'll drop 10.1% to 314.2M. Consumer shipments are expected to drop 15%, and commercial shipments (tend to have higher ASPs) 5%.
- Interestingly, emerging markets (shipments -11% to 182.1M) are expected to see a slightly larger drop than "mature markets" (-8% to 132M). There have been signs of stabilizing demand in the U.S. and certain other developed markets.
- IDC's forecast cut comes even though the firm thinks shipment declines moderated to a 7.6% Y/Y clip in Q3, after dropping 11.4% in Q2. In addition, H-P (HPQ +0.8%) just reported a mere 2% Y/Y PC sales drop for its Oct. quarter, and Intel (INTC -1%) stated the PC market is "beginning to show signs of stabilization," albeit while providing disappointing 2014 guidance.
- IDC expects shipments to drop another 3.8% in 2014 before "turning slightly positive in the longer term." It foresees 2017 shipments (naturally hard to predict) of 305.1M - barely above 2008 levels.
- For reference, IDC has predicted smartphone shipments will rise 39% this year to 1.01B (over 3x PC shipments), and tablet shipments will rise 58% to 227M (72% of PC shipments).
- Affected companies: MSFT, STX, WDC, MU, AMD, NVDA, LNVGY
Wednesday, Nov 2712:40 PM
Wednesday, Nov 2712:40 PM| 19 Comments
- Digitimes' supply chain sources report Intel (INTC +0.7%) plans to offer $1B in 2014 marketing subsidies to tablet vendors adopting its CPUs.
- They also state Intel is offering huge price discounts to large OEMs using its new Bay Trail Atom CPUs, and even bundling baseband chips for free, but Intel's Taiwanese unit denies those claims.
- Intel has a long history of providing OEMs with marketing subsidies, and the chip giant has made it clear it's willing to spend aggressively to make up for lost time in a tablet CPU market currently dominated by MediaTek, Qualcomm, and Apple/Samsung's in-house processors.
- Last week, Intel set a goal of quadrupling its tablet CPU shipments in 2014 to 40M (would be good for a 14% share based on Canalys' latest 2014 tablet forecast).
- RBC, which cut shares to Hold this morning, thinks Intel is spending $800M (via shared project/R&D spend and contra revenue) to grow its mobile CPU presence, and forecasts the spending will only yield near-term op. income of $200M. Moreover, the firm sees Intel's combined notebook/mobile processor sales posting only a 3% CAGR from 2013-2016, as soaring Atom sales are offset by declining sales of traditional PC CPUs.
- The Other Intel Architecture unit, which includes Intel's Atom and baseband chip ops (among other things), had a $606M Q3 op. loss on $1.1B of revenue.
Wednesday, Nov 277:03 AM
Monday, Nov 257:28 PM
Monday, Nov 257:28 PM| 8 Comments
- Bloomberg reports Intel (INTC) has set an asking price of $500M for the assets of its would-be Web TV service, and is hoping to reach a deal by year's end.
- Though lacking any revenue, the business does have some potentially valuable IP and software assets stemming from startup acquisitions, as well as Intel's efforts to create a unique set-top UI and cloud DVR for its service.
- Verizon and Liberty Global have already been rumored to be talking with Intel about possibly buying the unit.
- Bloomberg's sources indicate Verizon (VZ) is looking to use the Intel unit as a springboard to offer its own Web TV service, one that would expand its TV reach to areas not covered by FiOS. Verizon has reportedly been asking content owners if it would need new contracts to offer a Web TV service, or if it could simply amend its FiOS deals.
Monday, Nov 254:03 PM
Monday, Nov 254:03 PM| 17 Comments
- The most popular shorts according to Goldman's Hedge Fund Monitor which analyzes the positions of 783 funds with $1.6T in assets (in reverse order, i.e. the last in this list is the most heavily shorted): SYY, KO, TGT, BMY, SNDK, UPS, SLB, GE, CVX, PFE, CAT, COP, EMC, PG, NFLX, WMT, JNJ, DIS, CRM, VZ, IBM, XOM, T, GILD, INTC.
- A quick scan finds Netflix making both the top 25 list of most heavily shorted and the top 20 list of most concentrated longs. List of 20 longs is here.
Friday, Nov 2211:36 AM
Friday, Nov 2211:36 AM| 25 Comments
- Bernstein's Stacy Rasgon, who has been bearish on Intel (INTC -4.8%) for some time. "We could actually feel the cheer leach out of the room a bit during [CFO] Stacy Smiths’s final presentation, as outlook for 2014 (mostly flat on revenues, gross margins, operating income, and capex) was likely not quite as good as some had hoped."
- Goldman (Sell) isn't pleased with Intel's guidance for flat 2014 revenue/EPS growth, nor with its steep capex budget (~$11B). It also thinks the revenue forecast could be aggressive since it "assumes no negative impact from the end of the corporate [PC] refresh cycle," and also assumes a pickup in server CPU division growth to a low-teens rate.
- Jefferies, however, is lifting its PT to $32. "Intel's message was compelling: its product line is geared to the new market reality, PCs are stabilizing, servers are growing, and it expects to grow its tablet MPU shipments by 4x to 40m units in 2014."
- SA contributor and Intel bull Ashraf Eassa is upbeat about the pending launch of Intel's dual-core Merrifield Atom smartphone CPU, the 2H14 launch of its 14nm Cherry Trail Atom tablet CPU (Bay Trail's successor), and (especially) the 2015 launch of its Broxton smartphone/tablet CPUs.
- Perhaps the biggest issue weighing on investors' minds: While keeping capex high to maintain its manufacturing edge, Intel is trying to offset declining sales of Core PC CPUs by ramping sales of Atom CPUs that often have far lower ASPs, and which some think could end up cannibalizing low-end Core sales.
Thursday, Nov 216:42 PM|Thursday, Nov 216:42 PM| 1 Comment
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