Aug. 23, 2013, 9:15 AM
Aug. 23, 2013, 9:06 AM| 32 Comments
Aug. 22, 2013, 8:12 AM
- Original bull Rick Sherlund (formerly Goldman, now Nomura) puts Microsoft (MSFT) back on his Buy list due to the "anticipated benefits of shareholder activism." ValueAct owns less than a 1% stake in the company, but is likely to have plenty of support as it presses its case for change says Sherlund. A proxy contest could be a catalyst (the company must be notified by August 30), but the board may just capitulate before that and offer a seat to someone amenable to the activist agenda.
- He's cutting his EPS estimate as he thinks margins will be talked lower at the September 19 Financial Analyst Meeting, but "We do not think fundamentals matter so much over the next six months."
- Shares +1.6% premarket.
Aug. 15, 2013, 10:23 AM
- Greenlight Capital's latest 13F indicates David Einhorn dumped his 6.1M-share Microsoft (MSFT -1.8%) stake, and his 5.4M-share Seagate (STX -3.4%) stake, in Q2.
- Einhorn also took some profits in Marvell (MRVL -1.3%), paring his position to 44.3M shares from 51.8M shares at the end of Q1. But that still leaves him with a ~9% stake in the chipmaker, which has been on a tear this year.
- Einhorn still has sizable positions in Apple (AAPL -0.4%), Vodafone (VOD -1.1%), and Computer Sciences (CSC -1.6%).
Aug. 13, 2013, 9:45 AM
- Microsoft (MSFT -1.6%) has been cut to Hold by Stifel due to Windows division sales, pricing and spending concerns. Evercore upgraded Microsoft recently on account of Office/Server & Tools optimism.
- RetailMeNot (SALE -0.3%) has been assigned 3 bullish and 4 neutral ratings on underwriter coverage day.
- Marvell (MRVL +2.8%) has been upgraded to Top Pick from Outperform by RBC ahead of its Aug. 22 FQ2 report.
- Constant Contact (CTCT +3.9%) has been upgraded to Buy by Lazard.
- Allot (ALLT -1.4%) has been cut to Sector Perform by RBC in the wake of last week's Q2 miss.
- E2open (EOPN +0.7%) has been started at Outperform by Northland.
Aug. 8, 2013, 9:44 AM
- Microsoft (MSFT +0.4%) has been upgraded to Overweight by Evercore.
- Groupon (GRPN +24.8%) had been upgraded to Neutral by UBS, and to Market Perform by Raymond James, following its Q2 revenue beat (I, II), buyback news, and CEO announcement.
- Sina (SINA +2.3%) has been upgraded to Buy by Maxim ahead of its Aug. 12 Q2 report.
- Fusion-io (FIO -22.8%) has been cut to a neutral rating by BofA, Mizuho, Monness Crespi, and Benchmark due to the light guidance provided with its mixed FQ4 results.
- Quad/Graphics (QUAD +3.5%) has been upgraded to Sector Perform by RBC following yesterday's Q2 report.
Jul. 29, 2013, 10:01 AM
- Microsoft (MSFT -0.1%) has been cut to Neutral by Atlantic Equities.
- 3D Systems (DDD +3.7%) and Stratasys (SSYS +1.9%) have been started at Buy by Brean Capital.
- Riverbed (RVBD -1.6%) has been cut to Market Perform by Northland.
- RF Micro (RFMD -2.9%) has been cut to Equal Weight by Barclays.
- Baidu (BIDU +1.8%) has been named a Long Research Tactical Idea by Morgan Stanley.
- Celestica (CLS +1.6%) has been upgraded to Buy by Canaccord.
Jul. 26, 2013, 2:13 PM
Jul. 19, 2013, 12:45 PM
Jul. 19, 2013, 11:55 AMMicrosoft (MSFT -11%) is plunging following its FQ4 miss, and is taking other PC-related names lower with it. HPQ -4.2%. INTC -1.4%. NVDA -2.2%. Goldman (Sell) predicts lower Windows price points for smaller/touch devices and emerging markets piracy will lead Windows sales growth to lag already-weak PC shipment growth. Nomura (Buy) thinks activism (led by ValueAct?) is now more likely, and could drive shares higher. Some bright spots: SQL Server and System Center revenue grew 16% and 14% Y/Y; Lync revenue rose 30%; over 50% of the Fortune 500 is using Azure; and "Windows Phone" revenue (much of it consists of Android royalties) rose by $222M . (FQ4: I, II, III) (transcript) | 20 Comments
Jul. 19, 2013, 9:54 AMA roundup of tech analyst ratings changes: 1) Microsoft (MSFT -9.2%) has been downgraded to Market Perform by Raymond James and Cowen following its FQ4 miss. 2) AMD (AMD -14.5%) has been downgraded to Underweight by Morgan Stanley, and to Underperform by Credit Suisse, following its Q2 beat. 3) Skyworks (SWKS +10.1%) has been upgraded to Buy by Needham following its FQ3 beat. 4) BlackBerry (BBRY +0.5%) has been upgraded to Market Perform by BMO. 5) IGT (IGT -4.2%) has been downgraded to Underperform by Credit Suisse. 6) SAP (SAP -1.3%) has been downgraded to Neutral by JPMorgan a day after posting a Q2 miss. 7) Ultratech (UTEK -4%) has been downgraded to Hold by Noble Financial. | Comment!
Jul. 19, 2013, 9:11 AM
Jul. 18, 2013, 5:38 PM
Jul. 18, 2013, 4:08 PM
Jul. 2, 2013, 10:24 AMZynga (ZNGA +10.3%) is matching yesterday's gains as investors give a thumbs-up to the hiring of Don Mattrick as CEO. Jim Cramer: "[$1.6B] in cash for a [$2.4B] market cap with a new ceo - that seems pretty hopeful. I am mindful about how well GRPN did after sacking Mason." The WSJ reports ~95% of Mattrick's compensation will be in stock. Fast Company reports Microsoft's (MSFT) pending reorg and the fact Mattrick "would not be getting a bigger role" spurred his departure. It also points out Mattrick was "the force behind The Sims" at Electronic Arts, and championed the Kinect at Microsoft. A Microsoft exec: "Don has this really ambitious vision ... Then he’s just relentless, dogged about pushing people beyond their comfort zones." | Comment!
Jul. 1, 2013, 1:08 PMZynga (ZNGA +11%) soars as Kara Swisher reports Microsoft (MSFT -0.2%) Interactive Entertainment (Xbox division) chief Don Mattrick is leaving, and is set to take a "top job" at Zynga, quite possibly that of CEO. Sources claim an announcement could arrive today. Zynga chairman/CEO Mark Pincus has taken plenty of heat from both investors and employees for his performance; his giant share of Zynga's voting rights should guarantee he'll maintain control of the company whether or not a new CEO is named. | 6 Comments
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Microsoft Corp is engaged in designing, manufacturing, selling devices, and online advertising to a global customer audience. Its products include operating systems for computing devices, servers, phones, and other intelligent devices.
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