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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 names declined yesterday on worries over global economic recovery. On a bright side M&A activity seems to be on the rise as HPQ proposed to pay $24/share for PAR, a 33% premium over Dell’s $18 bid, effectively pushing storage area network names (ISLN +12%, CML +11.5% & CVLT +14%) higher. Last night Bloomberg reported that Dell is indeed preparing to raise its current bid for PAR.

Acer’s chairman  JT Wang predicts global demand for tablet PCs to rise 50M units in 2-3 years, with open-platform vendors such as Google Android having a combined global market share 3 to 4 times that of an iPad.

 

Macro/Technicals

S&P Fut.: 1057.80; -.73% ;
SOX: 323.78; -1.25% ;
VIX: 25.6; +.67% ;

Leaders: PAR +26%, CVLT +13.7%, FALC +12.6%, ISLN +11.9%
Laggards: MFLX -9.9%, CBR -9.5%, INAP -8.5%, EVC -7.7%

Active Names

Enterprise/Service/ SW: BR, TIBX, MSFT, ADBE, CMVT, EXLS, LWSN

PCs/Devices/Net: BIDU, DELL, AAPL, MOT, HPQ, RIMM, LXK

Semis/Circuits: Storage: WDC, SYNA, EMC, STX, SNDK, NVDA, LSI

Network Products: CSCO, BRCD, PLCM, FTR, TKLC

Telco: VZ, T, TWX, ROIAK, VSAT, SIRI, Q, S, WIN, LEAP

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

Media: AOL, CVC, SIRI, PLA, VMED

Smaller Caps: BDE, ADPT, AXTI, QTM, GUID, COHU

 

Sector News, M&A, Capital Raises

HPQ sparks bidding war with Dell over PAR 3PAR- Reuters HP offered to pay $1.6 billion for 3PAR, topping rival Dell Inc's bid by a third in a surprise move http://www.reuters.com/article/idUSN2318868520100823

WSJ positive on 3PAR’s current position http://online.wsj.com/article/SB10001424052748703846604575447731336631668.html?mod=googlenews_wsj

GOOG: China's Tencent buys Google-backed social-networking co- China Business News

http://www.reuters.com/article/idUSTOE67N01L20100824

LG Display says in talks with Compal for JV- Reuters

SCON Superconductor Technologies reduces size of secondary offering to 4M from 10M through MDB Capital and Feltl

Bloggers crying foul over Philly business tax- AP

http://hosted.ap.org/dynamic/stories/U/US_TEC_BLOGGERS_TAXES

Search engines: revenues near 2.7 billion yuan in China- Digitimes

Online advertising: revenues top 10 billion yuan in China- Digitimes

NOK, INTC: Nokia and Intel build a joint research lab, plan to create the mobile 3D future- Engadget

Samsung Epic 4G Is Fast and Bright, but No iPhone Killer- eWeek

AAPL: Apple Patents a Desktop Touch-Screen- NYT

LCDs: Taiwanese LCD maker files second suit against Sony- Reuters

YHOO, Hulu: Cable's decline an incentive for Yahoo, Hulu deal- Reuters

M&A Alone Isn't Enough to Spark Tech-Stock Rally- WSJ

http://online.wsj.com/article/SB10001424052748704340504575447750444265796.html

Advertising: WPP, the world's largest marketing company by revenue, fell 2%, in a muted response to its results. WPP is Bullish on US!  - per BBG. Advertising margins were lower than expected. Organic growth of “almost 5%” in 2Q was slightly disappointing (consensus 5%+). Overall company Outlook OK

ATVI: Options Traders Look For A Jump In Activision.  Options trading in videogame company Activision Blizzard surges Monday as a big trader takes a position that profits nicely if the stock gains about 19% by mid-February- DJ

 

Research Away

T reiterated outperform at Wells Fargo following checks

NETL initiated equal-weight at Morgan Stanley

CSC initiated underperform at Bank of America Merrill Lynch, px tgt $44

VECO Instruments added to Top Picks Live at Citi, px tgt $52

 

Cantor Flows

Enterprise/Service/ SW: BR, TIBX, MSFT, ADBE, CMVT, EXLS, LWSN

PCs/Devices/Net: BIDU, DELL, AAPL, MOT, HPQ, RIMM, LXK

Semis/Circuits: Storage: WDC, SYNA, EMC, STX, SNDK, NVDA, LSI

Network Products: CSCO, BRCD, PLCM, FTR, TKLC

Telco: VZ, T, TWX, ROIAK, VSAT, SIRI, Q, S, WIN, LEAP

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

Media: AOL, CVC, SIRI, PLA, VMED

Smaller Caps: BDE, ADPT, AXTI, QTM, GUID, COHU

 

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