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Rally Extended 06-29-2011
Wednesday, June 29, 2011 - 3:31pm | 936Cusick's Corner Today's snapshot: Greeks respond to austerity measures, BAC settles and bonds tumble. The Finance sector had the largest lift into the midday, thanks to more clarity from Bank of America concerning fallout from the mortgage and CDS markets which additionally helps estimate the...
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Rally Extended 06-29-2011
Wednesday, June 29, 2011 - 3:31pm | 936Cusick's Corner Today's snapshot: Greeks respond to austerity measures, BAC settles and bonds tumble. The Finance sector had the largest lift into the midday, thanks to more clarity from Bank of America concerning fallout from the mortgage and CDS markets which additionally helps estimate the...
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Spreadtrum Flying Despite Muddy Waters Concern
Wednesday, June 29, 2011 - 1:03pm | 137Yesterday, short selling firm Muddy Waters Research told investors that they were shorting Spreadtrum Communications (NASDAQ: SPRD) and had identified a number of issues in the company's corporate filings. Furthermore, Muddy Waters revealed that they had sent a letter with questions to the company'...
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Benzinga's Volume Movers
Wednesday, June 29, 2011 - 10:29am | 139Spreadtrum Communications Inc (NASDAQ: SPRD) shares surged 11.61% to $13.94 at 10:28 am. The volume of SPRD shares traded was 518% higher than normal. SPRD declared a quarterly cash dividend of US$0.05 per American Depositary Share. Energy XXI (Bermuda) Limited (NASDAQ: EXXI) shares moved up 6.24...
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Options Brief: Atmel Corporation
Wednesday, June 29, 2011 - 10:29am | 77Shares of Atmel Corporation (NASDAQ: ATML) are lower on the session by 0.89%, trading at $13.42. Overall call volume is now running at 2.57x the daily average, with 24% of all calls traded being purchases on the offer. 5,659 contracts have traded on the session so far. Atmel Corporation is...
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ARM Holdings Initiated at Raymond James at Outperform, $35 PT
Wednesday, June 29, 2011 - 8:53am | 41At the following link, @markflowchatter tweets that Raymond James has initiated coverage of ARM Holdings (NASDAQ: ARMH) with an Outperform rating and a $35 price target.
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Benzinga's Top Pre-Market NASDAQ Losers
Wednesday, June 29, 2011 - 8:25am | 92Progress Software Corporation (NASDAQ: PRGS) dipped 4.04% to $22.34 in the pre-market session. PRGS issued weaker-than-expected projections. ProShares UltraPro Short QQQ (NASDAQ: SQQQ) dropped 1.64% to $25.71 in the pre-market trading. Star Scientific Inc (NASDAQ: CIGX) moved down 0.67% to $4.48...
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Benzinga's Top Pre-Market NASDAQ Gainers
Wednesday, June 29, 2011 - 8:15am | 109Spreadtrum Communications Inc (NASDAQ: SPRD) shares advanced 7.93% to $13.48 in the pre-market session. SPRD declared a quarterly cash dividend of US$0.05 per American Depositary Share. Logitech International SA (NASDAQ: LOGI) shares advanced 4.48% to $10.95 in the pre-market session. LOGI is...
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OmniVision To Acquire Wafer-Level Lens Manufacturing Operation for $45M
Wednesday, June 29, 2011 - 8:03am | 91OmniVision Technologies, Inc. (NASDAQ: OVTI) today announced that it has entered into an agreement with VisEra Technologies Company, Ltd., or VisEra, OmniVision's joint venture with Taiwan Semiconductor Manufacturing Company Limited, or TSMC, to acquire from VisEra its wafer-level lens production...
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UPDATE: Morgan Stanley Lowers PT on Cree to $28
Wednesday, June 29, 2011 - 7:44am | 97Morgan Stanley is out with its report today on Cree (NASDAQ: CREE), lowering its PT from $35 to $28. In a note to clients, Morgan Stanley writes, "Price competition in LEDs for lighting is intense. Channel checks indicate Cree needs to cut prices or risk losing market share as competitors are...
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Top Pre-Market Gainers and Losers
Wednesday, June 29, 2011 - 7:41am | 192Gainers: Portage Resources (PINK: POTG) is up over 12%. Westport Innovations (NASDAQ: WPRT) is up over 7% after the company announced a deal with General Motors (NYSE: GM) to develop natural gas-powered engines. LinkedIn (NASDAQ: LNKD) is up over 6% after JP Morgan initiated coverage of the...
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Goldman Sachs Comments On Marvell Technology Shareholders Meeting
Wednesday, June 29, 2011 - 7:28am | 72According to Goldman Sachs, Marvell Technology Group (NASDAQ: MRVL) held its general shareholders meeting at 5:30 p.m. PT on June 28. Goldman Sachs said that one of the items approved at the meeting authorizes a reallocation of $3.1 bn from Marvell's “share premium account” to its “contributed...
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Morgan Stanley Lowers PT On CREE To $28
Wednesday, June 29, 2011 - 6:40am | 26Morgan Stanley has lowered the price target on Cree (NASDAQ: CREE) from $35 t0 $28 and maintains its Underweight rating.
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Microsoft, Intel, Cisco (MIC) - Can The Troika Grow Again? (Part 1)
Wednesday, June 29, 2011 - 4:26am | 739Microsoft (NASDAQ: MSFT), Intel (NASDAQ: INTC), and Cisco Systems (NASDAQ: CSCO), once the darlings of Wall Street, had all fallen out of favor. Even though they have protected their turfs well, and are piling cash into their companies quarter after quarter, their stocks had languished for an...
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Stocks to Watch for 6/29/11: Fresh 52 Week Highs and Lows
Wednesday, June 29, 2011 - 4:11am | 2861Stocks trading at or near 52-week highs and lows provide excellent trading opportunities, as volatility tends to increase at such levels. The following stocks hit new 52-week highs in Tuesday's trading session: 1) CIGNA (NYSE: CI): Shares of CIGNA hit a 52-week high of $51.16 in Tuesday's...