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QE3 07-12-2011
Tuesday, July 12, 2011 - 6:25pm | 859Cusick's Corner The Fed notes came out, and QE3 now looks to be on the table, which catalyzed that the market specifically getting the Euro, E7U11, over $1.40 and the Dollar, DXU11, pulled back to the 76 level. But that was short lived when Moody's downgraded Irish debt, bringing yields in the...
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Range-Bound 07-12-2011
Tuesday, July 12, 2011 - 2:19pm | 1004Cusick's Corner Last night as I was doing a webinar I was catching myself trading more than teaching as the markets were on the move - US Dollar was running to the upside, Euro sliced through $1.40, bonds were running on the long end and the equities sliced through that support level, 1315. Then...
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Options Brief: Sigma Designs
Tuesday, July 12, 2011 - 12:59pm | 71Shares of Sigma Designs (NASDAQ: SIGM) are higher on the session by 2.43%, trading at $8.67. Overall put volume is now running at 6.71x the daily average, with 71% of all puts traded being purchases on the offer. 1,269 contracts have traded on the session so far. Sigma Designs, Inc. is a fabless...
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Calls Purchased on ON Semiconductor
Tuesday, July 12, 2011 - 10:22am | 111Shares of ON Semiconductor (NASDAQ: ONNN) are lower on the session by 5.63%, currently trading at $9.55. The stock has been moving largely lower over the past three months and is currently trading below the 200-day moving average. Options traders are buying calls on the name today. A short while...
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Semiconductor Equipment Meltdown
Tuesday, July 12, 2011 - 10:21am | 217All of the semiconductor equipment makers are under sharp selling pressure this morning. Novellus Systems Inc.(NASDAQ: NVLS) reported earnings last night and the stock is not being well received by the markets. The company reported better than expected earnings but the outlook was very weak. The...
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Did Microchip Technology Kill Any Chance Of A Tech Rally?
Tuesday, July 12, 2011 - 10:12am | 843Microchip Technology Inc. (NASDAQ: MCHP) shares are getting crushed this morning, down more than 12% after the semiconductor company cut its revenue guidance last night. The company said it expects first quarter sales to be down 1.5%, as opposed to its prior view of up 1%-6%. It also cut earnings...
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Collins Stewart Reiterates Buy on Cypress Semiconductor and Atmel
Tuesday, July 12, 2011 - 9:17am | 94Collins Stewart reiterated its Buy rating on Cypress Semiconductor (NASDAQ: CY) and Atmel (NASDAQ: ATML). At the same time, the rating agency left its price target on the companies' stocks unchanged at $27 for CY and $18 for ATML. On Friday, ATML closed the day at $13.88. Its shares lost 1.87% of...
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Morgan Keegan Maintains Outperform Rating On Microchip Technology
Tuesday, July 12, 2011 - 8:59am | 120According to Morgan Keegan, Microchip Technology (NASDAQ: MCHP) updated their June quarter expectations after the market close and now expects revenues of $374.5 million or down 1.5% q/q and EPS of $0.53-0.55. Morgan Keegan said that the company cited a number of contributing factors to the lower...
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Last Night's Noteables July 12
Tuesday, July 12, 2011 - 8:51am | 303Upgrades Downgrades Intuitive Surgical, Inc. (ISRG) recent weakness a buying opportunity, says Madison Williams Annaly Capital Management (NLY) Leads Pre-Market Volume - Prices 120 Mln Share Offering at $17.70 Per Share Novellus Systems, Inc. (NVLS) Little light on revs, little better eps 350 vs...
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Wunderlich Securities Updates 7/12
Tuesday, July 12, 2011 - 8:44am | 145Wunderlich Securities made a number of updates in a research report published today. Covanta (NYSE: CVA) had its rating maintained at Buy. At the same time, its price target was left unchanged at $21. On Monday, CVA closed the day at $16.74. Cree (NASDAQ: CREE) had its rating maintained at Hold....
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Morgan Keegan Lowers PT On Microchip Technology To $39
Tuesday, July 12, 2011 - 8:29am | 27Morgan Keegan has lowered the price target on Microchip Technology (NASDAQ: MCHP) from $44 to $39 and maintains its Outperform rating.
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Citadel Securities Lowers PT On MCHP To $28
Tuesday, July 12, 2011 - 8:28am | 150Citadel Securities has lowered its price target on Microchip Technology (NASDAQ: MCHP) from $30 to $28 in light of the company's expected results for CY2Q11. Says Citadel, in its report, “After the close, Microchip negatively pre-announced CY2Q11 results, indicating sales would decline 1.5% qoq...
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Wunderlich Securities Reiterates Hold and PT of $34 on Cree
Tuesday, July 12, 2011 - 8:22am | 60Wunderlich Securities reiterated its Hold rating on Cree (NASDAQ: CREE). At the same time, the rating agency left its price target on the company's stock unchanged at $34. On Monday, CREE lost 3.04% of its value to finish the day at $31.25. Its shares continued to slide in today's pre-market...
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Benzinga's Top Pre-Market NASDAQ Losers
Tuesday, July 12, 2011 - 8:13am | 110Microchip Technology Inc (NASDAQ: MCHP) dipped 9.82% to $33.80 in the pre-market session. MCHP lowered its fiscal first-quarter sales forecast. American Superconductor Corp (NASDAQ: AMSC) dropped 8.91% to $7.77 in the pre-market trading. AMSC will restate its results for the second and third...
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Stifel Nicolaus Lowers PT On Microchip Technology To $45
Tuesday, July 12, 2011 - 8:08am | 27Stifel Nicolaus has lowered the price target on Microchip Technology (NASDAQ: MCHP) from $50 to $45 and maintains its Buy rating.