AMD (AMD +9.7%) just won't take a breather. Share are now up 42% on the week even though the chipmaker hasn't seen any major news and has been hit with a downgrade. Bernstein speculates enthusiasm about AMD's next-gen console design wins is responsible, but they've been well-known for some time. Is a major short-seller or two covering? Is an activist investor moving in? Regardless, shares are up 57% YTD in spite of a pretty ugly Q1 for PC sales. [View news story]
Tim Cook (AAPL) on the five-inch smartphone: "Our competitors have made some significant trade-offs in many of these areas in order to ship a larger display. We would not ship a larger display iPhone while these trade-offs exist." He adds that if IDC's right, the smartphone market declined 30% since December, so Apple's decline of 15% beat the market. [View news story]
Tim Cook (AAPL) on the five-inch smartphone: "Our competitors have made some significant trade-offs in many of these areas in order to ship a larger display. We would not ship a larger display iPhone while these trade-offs exist." He adds that if IDC's right, the smartphone market declined 30% since December, so Apple's decline of 15% beat the market. [View news story]
Apple (AAPL): FQ2 EPS of $10.09 beats by $0.02. Revenue of $43.6B (+11% Y/Y) beats by $1.1B. 37.4M iPhones, 19.5M iPads, just under 4M Macs. Expects FQ3 revenue of $33.5B-$35.5B, below $39.3B consensus. Buyback increased by $50B. Shares halted. CC at 5PM ET (webcast). (PR) [View news story]
why are analysts so bullish? $39 billion consensus? what are they smoking?
The temporary market crash caused by a false tweet about a White House explosion from a hacked AP Twitter account has provided a lift to Sourcefire (FIRE +1.3%) - the company is the #1 provider of intrusion prevention systems, which are used to detect and foil hacking attempts, and also receives over a quarter of its sales from the U.S. government. Shares also rallied in February thanks to an executive order issued by Pres. Obama to boost federal spending on cybersecurity. Q1 results are due on April 30. [View news story]
Apple (AAPL) only looks cheap if it maintains its profit margins (35.3% in 2012), writes The Brooklyn Investor. Slapping Samsung's mobile operating margin of 18% on Apple's $181B in expected revenue this year then giving it a 10 multiple and adding back cash yields a value of $370/share. Margins might not decline right away (and revenues may increase to offset), but Apple bulls are fighting the powerful historical tendency (particularly for Apple) of excess margins getting competed away. [View news story]
Apple (AAPL -2.1%) roundup: 1) As Verizon's Q1 iPhone sales get dissected, critics are noting the 35% Q/Q drop in sales from Q4 is bigger than the 24% drop seen last year. Others think Verizon's remarks about wanting to lower subsidies bodes poorly, though Apple has more leverage here than most Android OEMs. 2) Digitimes reports Apple recently stopped placing Mac component orders to digest inventories, and (in a break from convention) hasn't provided a Q2 shipment forecast. 3) The latest from the iRumor mill: A picture said to show the low-cost iPhone's plastic case, and a report the 5th-gen iPad will be 25% lighter and 15% thinner. [View news story]
You can only say your next product will be thinner and lighter so many times before people get fed up hearing about it.
Other than "thinner and lighter", apple has not done anything new.
Goldman's short call on gold looks prescient, as comex gold sinks $63.50 to settle at $1,501.40/oz. for its lowest close since July 2011. Traders and analysts see no obvious trigger for the selloff, which seems to reflect the malaise that has gripped the market. Silver slips $1.37 to $26.33/oz. Miners are huge losers: HMY -7.5%, ABX -7.3%, AEM -6.9%, AUY -6.2%, SLW -5.6%, NEM -5.2%, EGO -4.9%, GFI -4.8%, GG -4.5%. [View news story]
Barrick Gold (ABX -8.3%) says it is suspending construction work on the Chilean side of the Pascua-Lama project while working to address environmental and other concerns to the satisfaction of Chilean authorities after a court shut down the mine. Construction activities in Argentina, where the majority of Pascua-Lama's critical infrastructure is located, are not affected. [View news story]
crap stock.
Luckily I only have $2500 in it.
I seem to be attracted to crap stocks like a fly on stink.
Lin TV (TVL +11.6%) ramps higher after saying it has acquired a majority stake in California-based digital marketer Dedicated Media which, according to Lin's senior VP, "has the ability to deliver the right ads to the right users at the right times." Nothing wrong with that. (Previously: Lin acquires HYFN) [View news story]
Congress votes to keep Saturday delivery of first-class mail by the USPS, although language in the spending measure easily allows the agency to alter the type of products it delivers. The development is expected to only have a minor read-through for FedEX (FDX -2.5%) due to its partnership with the USPS and an even smaller impact on rival UPS (UPS -1.1%). [View news story]
Is this what crisis fatigue looks like? European shares are solidly higher despite Cyprus throwing the eurozone back into all sorts of uncertainty as it seeks to avoid economic collapse. Traders reckon that because the sums involved are relatively small, a solution will be found. EU Stoxx 50 +0.7%, London +0.4%, Paris +0.8%, Frankfurt +0.6%, Milan +0.4%, Madrid +0.4%. The euro is flat vs the dollar, gold is -0.1%, oil +0.4%. [View news story]
An upgrade to Overweight from Morgan Stanley's Katy Huberty leads H-P (HPQ +2.7%) to touch levels last seen in spring 2012. Huberty praises Meg Whitman for getting execs to "consider free cash flow implications" for their moves (as compared with a traditional focus on revenue/EPS), and thinks lower capex and an improved cash conversion cycle could lead to $3.45/share in annual free cash flow, $1/share better than what management has been forecasting. H-P has now roughly doubled from its Nov. '12 low. [View news story]
extended pump and dump.
these damn analysts will say anything to pump their holdings.
Advanced Micro Devices: Is Goldman Sachs Right? [View article]
Did Goldman load up on shares after it said to sell?
Advanced Micro Devices: Is Goldman Sachs Right? [View article]
So they used their magic powers to bring it down so they could buy some.
AMD (AMD +9.7%) just won't take a breather. Share are now up 42% on the week even though the chipmaker hasn't seen any major news and has been hit with a downgrade. Bernstein speculates enthusiasm about AMD's next-gen console design wins is responsible, but they've been well-known for some time. Is a major short-seller or two covering? Is an activist investor moving in? Regardless, shares are up 57% YTD in spite of a pretty ugly Q1 for PC sales. [View news story]
Tim Cook (AAPL) on the five-inch smartphone: "Our competitors have made some significant trade-offs in many of these areas in order to ship a larger display. We would not ship a larger display iPhone while these trade-offs exist." He adds that if IDC's right, the smartphone market declined 30% since December, so Apple's decline of 15% beat the market. [View news story]
Tim Cook (AAPL) on the five-inch smartphone: "Our competitors have made some significant trade-offs in many of these areas in order to ship a larger display. We would not ship a larger display iPhone while these trade-offs exist." He adds that if IDC's right, the smartphone market declined 30% since December, so Apple's decline of 15% beat the market. [View news story]
people aren't buying smartphones either.
we're all satisfied with our old gadgets, right?
Apple (AAPL): FQ2 EPS of $10.09 beats by $0.02. Revenue of $43.6B (+11% Y/Y) beats by $1.1B. 37.4M iPhones, 19.5M iPads, just under 4M Macs. Expects FQ3 revenue of $33.5B-$35.5B, below $39.3B consensus. Buyback increased by $50B. Shares halted. CC at 5PM ET (webcast). (PR) [View news story]
The temporary market crash caused by a false tweet about a White House explosion from a hacked AP Twitter account has provided a lift to Sourcefire (FIRE +1.3%) - the company is the #1 provider of intrusion prevention systems, which are used to detect and foil hacking attempts, and also receives over a quarter of its sales from the U.S. government. Shares also rallied in February thanks to an executive order issued by Pres. Obama to boost federal spending on cybersecurity. Q1 results are due on April 30. [View news story]
Apple (AAPL) only looks cheap if it maintains its profit margins (35.3% in 2012), writes The Brooklyn Investor. Slapping Samsung's mobile operating margin of 18% on Apple's $181B in expected revenue this year then giving it a 10 multiple and adding back cash yields a value of $370/share. Margins might not decline right away (and revenues may increase to offset), but Apple bulls are fighting the powerful historical tendency (particularly for Apple) of excess margins getting competed away. [View news story]
Apple (AAPL -2.1%) roundup: 1) As Verizon's Q1 iPhone sales get dissected, critics are noting the 35% Q/Q drop in sales from Q4 is bigger than the 24% drop seen last year. Others think Verizon's remarks about wanting to lower subsidies bodes poorly, though Apple has more leverage here than most Android OEMs. 2) Digitimes reports Apple recently stopped placing Mac component orders to digest inventories, and (in a break from convention) hasn't provided a Q2 shipment forecast. 3) The latest from the iRumor mill: A picture said to show the low-cost iPhone's plastic case, and a report the 5th-gen iPad will be 25% lighter and 15% thinner. [View news story]
Other than "thinner and lighter", apple has not done anything new.
Goldman's short call on gold looks prescient, as comex gold sinks $63.50 to settle at $1,501.40/oz. for its lowest close since July 2011. Traders and analysts see no obvious trigger for the selloff, which seems to reflect the malaise that has gripped the market. Silver slips $1.37 to $26.33/oz. Miners are huge losers: HMY -7.5%, ABX -7.3%, AEM -6.9%, AUY -6.2%, SLW -5.6%, NEM -5.2%, EGO -4.9%, GFI -4.8%, GG -4.5%. [View news story]
I wish I could manipulate the market like they do
Barrick Gold (ABX -8.3%) says it is suspending construction work on the Chilean side of the Pascua-Lama project while working to address environmental and other concerns to the satisfaction of Chilean authorities after a court shut down the mine. Construction activities in Argentina, where the majority of Pascua-Lama's critical infrastructure is located, are not affected. [View news story]
Luckily I only have $2500 in it.
I seem to be attracted to crap stocks like a fly on stink.
Lin TV (TVL +11.6%) ramps higher after saying it has acquired a majority stake in California-based digital marketer Dedicated Media which, according to Lin's senior VP, "has the ability to deliver the right ads to the right users at the right times." Nothing wrong with that. (Previously: Lin acquires HYFN)
[View news story]
it grew over 5x in one year! hot damn
Congress votes to keep Saturday delivery of first-class mail by the USPS, although language in the spending measure easily allows the agency to alter the type of products it delivers. The development is expected to only have a minor read-through for FedEX (FDX -2.5%) due to its partnership with the USPS and an even smaller impact on rival UPS (UPS -1.1%). [View news story]
Is this what crisis fatigue looks like? European shares are solidly higher despite Cyprus throwing the eurozone back into all sorts of uncertainty as it seeks to avoid economic collapse. Traders reckon that because the sums involved are relatively small, a solution will be found. EU Stoxx 50 +0.7%, London +0.4%, Paris +0.8%, Frankfurt +0.6%, Milan +0.4%, Madrid +0.4%. The euro is flat vs the dollar, gold is -0.1%, oil +0.4%. [View news story]
An upgrade to Overweight from Morgan Stanley's Katy Huberty leads H-P (HPQ +2.7%) to touch levels last seen in spring 2012. Huberty praises Meg Whitman for getting execs to "consider free cash flow implications" for their moves (as compared with a traditional focus on revenue/EPS), and thinks lower capex and an improved cash conversion cycle could lead to $3.45/share in annual free cash flow, $1/share better than what management has been forecasting. H-P has now roughly doubled from its Nov. '12 low. [View news story]
these damn analysts will say anything to pump their holdings.
false praise for the ceo