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Today's Tech/Media/Telco Stories
News and Views | Macro/Technicals | Active Names | Sector News, M&A, Capital Raises | Research Away | Cantor Flows

News and Views

Tech stocks had another decent day with semis (SOX +1.07%) leading the way. Solid numbers/guidance from ADI +4.4% definitely helped chip stocks. NVDA was up modestly on reports that the new Google/Verizon tablet will be based on its Tegra chip. Continuing the M&A theme PTEC closed up 25% after getting a $3.85 bid from Martin Equity Partners. After the close AMAT posted solid Q3 results and upped guidance. The stock, however traded flat after hours as some investors were worried about AMAT’s solar biz. NTAP shares sold off 4% after reporting what seemed to be good Q1 results. Bears may point out that the company did not repurchase any shares last quarter, even though the buyback was authorized.

GOOG may cooperate with Motorola for Android 3.0 tablet, according to DigiTimes Research.

RIMM, playing catch-up with AAPL and GOOG, eyes Millennial Media (Mobile Ad Co), though it reportedly is balking at the $400-$500m price tag. RIMM also ramping its in-house software efforts to develop the Black Pad.

The US Government is here to help, announcing $1.8B in broadband stimulus and loans. A few of the lucky winners: MOT ($50m), WIN ($64m), and HUGH ($59m). This brings the total handouts to $7B, with another $1.5B to come, part from the Commerce Dep’t and part from the Dep’t of Agriculture.

 

Macro/Technicals

S&P Fut.: 1091; +.43%
SOX: 332.1; +1.07%
VIX: 24.59; +1.07%

Leaders: NENG +12.7%, TNL +10.8%, ENTR +8.7%, LTXC +8.3%
Laggards: SALM -13%, ININ -5%, VRAZ -5%, QTM -4.9%

Active Names

Enterprise/Service/ SW: BR, CACI, MSFT, RNWK, ARBA, CMVT

PCs/Devices/Net: BIDU, DELL, YHOO, MOT, HPQ, UNTD, MOT, RIMM

Semis/Circuits: Storage: MTSN, LTXS, NVLS, SYNA, EMC, WDC, STX

Network Products: CSCO, BRCD, PLCM, FTR

Telco: CVC, GNCMA, ETM, VZ, T, TWX, ROIAK, VSAT, SIRI

Electronic components: APH, TNB, ENS, AVX, ENTG, CREE

Media: AOL, CVC, SIRI, PLA, VMED

Smaller Caps: BDE, ADPT, LNET, EFII, CRNT, QTM, GUID

 

Sector News, M&A, Capital Raises

SNDK to offer $1 Bln of convertible senior notes due In 2017

Lobbyists meet to discuss net neutrality – Reuters Sources familiar with the meeting say the FCC, Google (GOOG), and the Open Internet Coalition were not involved in yesterday's meeting, but lobbyists for Microsoft (MSFT) and Yahoo (YHOO) were.

RIMM Research In Motion lines up software to differentiate tablet computer from iPad – Bloomberg

RIMM Research In Motion looking to buy mobile ad network – WSJ

GOOG Google to launch Chrome OS tablet on Verizon (VZ) 26-Nov - Download Squad

ELON Echelon to announce new product for the smart grid on 8-Sep

Facebook unveils location service- WSJ Facebook unveiled a new way for users to share their physical locations online, extending the social-networking giant's reach into the real world even as it opens itself to new potential concerns about privacy.

 

Research Away

MOT Motorola downgraded to hold from buy at Standpoint Research

ROVI Rovi Corp initiated neutral at Goldman Sachs, px tgt $48

CRUS downgraded to Hold from Buy at Stifel Nicolaus

SIRI initiated with a Buy at Maxim, px tgt $1.4

 

Cantor Flows

Enterprise/Service/ SW: BR, CACI, MSFT, RNWK, ARBA, CMVT

PCs/Devices/Net: BIDU, DELL, YHOO, MOT, HPQ, UNTD, MOT, RIMM

Semis/Circuits: Storage: MTSN, LTXS, NVLS, SYNA, EMC, WDC, STX

Network Products: CSCO, BRCD, PLCM, FTR

Telco: CVC, GNCMA, ETM, VZ, T, TWX, ROIAK, VSAT, SIRI

Electronic components: APH, TNB, ENS, AVX, ENTG, CREE

Media: AOL, CVC, SIRI, PLA, VMED

Smaller Caps: BDE, ADPT, LNET, EFII, CRNT, QTM, GUID

 

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