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Broadcom Under Pressure
Tuesday, May 31, 2011 - 3:30pm | 117Broadcom Corp.(NASDAQ: BRCM) is one of the leading semiconductor stocks that has come under selling pressure this afternoon. BRCM stock is trading lower today by $1.14 to $35.38 a share. This stock is selling off sharply lower today after staging a three day rally into important daily chart...
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Dollar Weak, Market Pops 05-31-2011
Tuesday, May 31, 2011 - 2:53pm | 1035Cusick's Corner If you are trading headlines then this is your market. If you are trading data, well this is a frustrating time. The market has rallied with the weakness in the buck which has been attributed to the rhetoric that the Germans potentially might soften the Greek austerity plan. While...
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Solar On Fire Off Germany
Tuesday, May 31, 2011 - 12:02pm | 222Germany, already an avid fan of solar energy, announced they would have all nuclear power plants shut down by the year 2022. This was in response to the horrific catastrophe in Japan just a couple months ago. The meltdown at the Fukushima Daiichi nuclear plant caused radiation to spread...
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Piper Jaffray Favors Linear Technology in High Performance Analog Market
Tuesday, May 31, 2011 - 9:19am | 96Piper Jaffray is out with its update on the semiconductor industry, favoring Linear Technology (NASDAQ: LLTC) in the high performance analog market. In a note to clients, Piper Jaffray writes, "We are getting multiple data points that the high performance analog market is currently strong. We...
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Deutsche Bank Reiterates Buy on Intel
Tuesday, May 31, 2011 - 9:13am | 87Deutsche Bank is out with its report today on Intel (NASDAQ: INTC), reiterating Buy. In a note to clients, Deutsche Bank writes, "We continue to view Intel's shares as being undervalued as we believe investors underestimate the co's ability to consistently monetize its dominant position in its...
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Micron and Intellectual Ventures Sign Intellectual Property License Agreement
Tuesday, May 31, 2011 - 9:04am | 146Micron Technology (Nasdaq: MU) and Intellectual Ventures announced today that they have entered into an intellectual property license agreement. The agreement provides Micron with access to IV's patent portfolio of more than 30,000 IP assets. In addition, the companies have the option to buy...
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Auriga Reports on Nvidia
Tuesday, May 31, 2011 - 8:44am | 215Auriga commented on Nvidia (NASDAQ: NVDA) in a report released today. In the report, Auriga was positive in its assessment of the company. Auriga writes, "We assume coverage and upgrade Nvidia (NVDA) to a Buy from Hold and raise our price target to $24 from $19 as we see potential for strong...
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Benzinga's Top Pre-Market NASDAQ Losers
Tuesday, May 31, 2011 - 8:27am | 148Avago Technologies Limited (NASDAQ: AVGO) dipped 3.11% to $33.92 in the pre-market session. AVGO reported the sale of 25,000,000 ordinary shares by certain existing shareholders to Deutsche Bank Securities Inc, Barclays Capital Inc and Citi. RF Micro Devices Inc (NASDAQ: RFMD) dropped 1.14% to $6....
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News Summary for May 31, 2011
Tuesday, May 31, 2011 - 8:23am | 400This is your morning news summary and trader's outlook from Benzinga for Tuesday, May 31, 2011, covering the Memorial Day weekend and Tuesday's pre-market session. Stock index futures are trading slightly higher this morning as traders await home prices data and consumer confidence reports. Higher...
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Sterne Agee Reiterates Buy Rating On Analog Devices
Tuesday, May 31, 2011 - 8:10am | 183According to Sterne Agee, Analog Devices (NYSE: ADI) Buy rating is reiterated. Sterne Agee said that it believes management continues to see long-term revenue growth rate in the 8-12% Y/Y range, well above current F12E consensus of ~5%. “We should note that F11E(Oct) was in the 6% range and has...
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Piper Jaffray Maintains Neutral on Intel
Tuesday, May 31, 2011 - 7:56am | 173Piper Jaffray is out with its report today on Intel (NASDAQ: INTC), maintaining Neutral. In a note to clients, Piper Jaffray writes, "We believe INTC is talking to OEMs about foundry relationships. We believe this is a direction the company needs to go in order to aggregate volume and maintain its...
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Bank of America Merrill Lynch Reinstating Coverage On Analog Devices Inc.
Tuesday, May 31, 2011 - 7:27am | 138Bank of America Merrill Lynch has a Buy rating and a $47 price target on shares of Analog Devices Inc. (NYSE: ADI), as it reinstates coverage on the name. In a note to clients, BAML writes, "We reinstate analog chipmaker Analog Devices (ADI) with a Buy and $47 PO on its: 1) over 80% exposure to...
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Auriga Upgrades NVIDIA To Buy, Raises PT To $24
Tuesday, May 31, 2011 - 6:47am | 26Auriga has upgraded NVIDIA (NASDAQ: NVDA) from Hold to Buy and has raised the price target from $19 to $24.
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Broadcom Corporation (Nasdaq:BRCM) – Launch Of Ground Breaking Chip
Tuesday, May 31, 2011 - 12:57am | 447This evening, Broadcom Corporation (Nasdaq:BRCM) released the following announcement about the development of the first 40nm Wi-Fi and Bluetooth combo chip. The press release included the following commentary from management: John DaCosta, Director of Product Marketing, Mobile & Wireless Group...
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Merger Arbitrage Mondays – May 30, 2011
Monday, May 30, 2011 - 6:17am | 4823Merger activity decreased last week with three new deals announced and four closing. You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours. Deal Statistics: Total Number of Deals Closed in 2011 78 Total Number of Deals...