Tech/Media/Telco
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News and Views
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Macro/Technicals
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Active Names
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Sector News, M&A, Capital Raises
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Research Away
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Cantor Flows
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News and Views
Semis were again the weakest tech sector (SOX -1.94%) with sell-side comments and M&A activity (DB negative on semi-equipment names, GS cautious on BRCM and MRVL in light of Intel’s acquisition of Infineon’s wireless unit, MCCC’s CEO withdrawing a bid) being primary catalysts behind px action. RIMM made a fresh 52-week low of $42.53 after another round of downgrade, this time from Bernstein and Pac.Crest.
On a positive note this morning Gartner upped its worldwide semi sales forecast to 31.5% y/y from previous 27.1%. The firm, however warns about DRAM revs peaking in 2010.
Apple’s Special Event starts today at 10am Pacific time (1pm ET). The company is expected to announce new iPod Nano and also provide details on partnership with Netflix and 99c TV episodes rentals.
Macro/Technicals
S&P Fut.: 1059.50; +1.07%SOX: 307.49 ; -1.94%
VIX: 26.05; -4.26%
Leaders: QTM +4.3%, AXTI +4.2%, VMED +4.2%, S +4.1%, VG +3.85%
Laggards: HTCH -17%, MCCC -15.3%, MAG -7.9%, CRAY -6.5%
Active Names
Enterprise/Service/ SW: BBBB, MSFT, ADBE, CMVT, FIRE, ARST, RHT, TECD
PCs/Devices/Net: BIDU, DELL, MOT, RIMM, VRSN
Semis/Circuits: Storage: SYNA, EMC, STX, SNDK, NVDA, AMD, MRVL
Network Products: BRCD, PLCM, FTR, TKLC, XXIA
Telco: LEAP, S, WIN
Electronic components: RBCN, CTV
Media: LCAPA, DGIT, MCCC
Smaller Caps: ADPT, PAET, AUDC, ZIXI
Sector News, M&A, Capital Raises
SCOR acquires Nedstat for $36.7M
S Having joined with 54%-owned Clearwire (CLWR), Sprint Nextel in uncomfortable situation with respect to 4G network – WSJ
SLRY Kenexa to acquire Salary.com for $4.07 per share or approximately $80M
AAPL Bloomberg reports that Apple is said be planning a Netflix streaming service on its new TV product
MSFT seeks China internet search partner: report – Reuters link
Hitachi plans IPO of hard-drive unit: sources – Reuters link
DELL, PAR, HPQ: Dell mulls its next move in 3Par bid war – NYP
Dell isn't quite ready to bow out of the bidding war with rival Hewlett-Packard for online data-storage company 3Par even as the price moves out of range.
The discount PC maker, which has until the end of today to match HP's $30-a-share offer, will likely make a new bid by the deadline
GOOG to aid crackdown on website ads – FT Within six months, every British company operating a website or a Facebook page will have to understand the rules of the Committee of Advertising Practice, or face digital humiliation http://link.ft.com/r/KC2844/UUZ7G7/GEFOF/18D38L/3OMFJR/9A/h?a1=2010&a2=9&a3=1
MSFT: Looking for a Chinese partner to help make MSFT a major player in the China Internet search market - WSJ
Samsung Electronics: Company does not have a new smartphone model going into the holiday season; To rely on Galaxy S model and upcoming tablet for sales – WSJ
LG Electronics: Sees tougher home appliance business conditions in H1 due to weak demand from Europe
HYC Hypercom holder Discovery Group discloses a 5.2% stake in a 13D filing
HPQ Hewlett-Packard enters into a joint development agreement with Hynix
SGI Silicon Graphics International to resume $40M stock repurchase program
Research Away
GOOG Google removed from the Select List at Stifel, px tgt to $560 from $600
CTCM upgraded to Buy from Hold at Deutsche Bank
WDC upgraded to Equal Weight from Underweight at Morgan Stanley
Cantor Flows
Enterprise/Service/ SW: BBBB, MSFT, ADBE, CMVT, FIRE, ARST, RHT, TECD
PCs/Devices/Net: BIDU, DELL, MOT, RIMM, VRSN
Semis/Circuits: Storage: SYNA, EMC, STX, SNDK, NVDA, AMD, MRVL
Network Products: BRCD, PLCM, FTR, TKLC, XXIA
Telco: LEAP, S, WIN
Electronic components: RBCN, CTV
Media: LCAPA, DGIT, MCCC
Smaller Caps: ADPT, PAET, AUDC, ZIXI