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Wednesday's S&P Sector Recap 6/22/11
Wednesday, June 22, 2011 - 5:44pm | 1502The S&P 500 traded in positive territory for most of session on Wednesday, but sellers came in around 2:25pm, as the index neared its intraday high of 1298.61. The S&P proceeded to drop 11.47 points to close at 1287.14 – down 8.38 on the day. The Sector Breakdown for Wednesday's session...
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5 Dividend Paying Giants of Technology Trading at Absurdly Low Valuations?
Wednesday, June 22, 2011 - 4:22pm | 3647Any owner of a business will tell you that the value of their business is based upon the earnings and cash flows it generates on their behalf. The more profitable the business is, the more valuable it is to its owners. In addition to just being common sense, this principle is also...
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Sterne Agee Sees More Than 100% Upside In Cree
Wednesday, June 22, 2011 - 3:32pm | 152Sterne Agee has a Buy rating and a $67 price target on shares of Cree, Inc. (NASDAQ: CREE), more than 100% from where shares are currently trading. In a note to clients, Sterne Agee writes, "In late 2008, when the stock was in the range of $15-$20, tangible book value was in the range of $9.00...
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Eolas Technologies, Rent-A-Center Reach Licensing Agreement Covering Two Eolas Patents for Interactive Web Applications
Wednesday, June 22, 2011 - 3:19pm | 367Internet technology provider Eolas Technologies Inc. has reached a licensing agreement with Plano, Texas-based Rent-A-Center Inc. (NASDAQ: RCII) covering two Eolas patents that enable Internet browsers to host embedded interactive applications. The agreement resolves Eolas' legal claims against...
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Fed Unched. 06-22-2011
Wednesday, June 22, 2011 - 1:41pm | 948Cusick's Corner I am writing this into today's Fed number so I will be brief. Unless there is a major shift in policy language or lack of unanimous agreement, the market looks ready to challenge to the upside. In other words, I will be watching to see if dips are being bought or if we just run to...
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Wednesday's Put/Call Ratio Leaders
Wednesday, June 22, 2011 - 12:17pm | 80Here are today's Put/Call Ratio leaders… 1. Regions Financial Corp. (NYSE: RF) 3,534 puts, 40 calls 2. RF Micro Devices Inc. (NASDAQ: RFMD) 8,775 puts, 306 calls 3. Ryland Group (NYSE: RYL) 3,080 puts, 143 calls 4. Hyperdynamics Corp. (NYSE: HDY) 5,035 puts, 251 calls 5. Xilinx Inc. (NASDAQ: XLNX...
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3.5 Reasons Why Not to Short the World, China, or Apple
Wednesday, June 22, 2011 - 12:13pm | 765I was feeling negative about everything. I wanted to tell Copernicus's ghost that I subscribed to the geocentric view and was placing a bet that the center of the universe was about to implode. I was even preparing to short Apple (NASDAQ: AAPL). Then I had drinks with The Renewable Man Tuesday...
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Options Brief: RF Micro Devices, Inc.
Wednesday, June 22, 2011 - 11:39am | 99Shares of RF Micro Devices, Inc. (NASDAQ: RFMD) are higher on the session by 2.12%, trading at $5.77. Overall put volume is now running at 5.57x the daily average, with 58% of all puts traded being purchases on the offer. 8,690 contracts have traded on the session so far. RF Micro Devices, Inc....
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Benzinga's Volume Movers
Wednesday, June 22, 2011 - 10:29am | 141AeroVironment Inc (NASDAQ: AVAV) shares surged 19.71% to $34.25 at 10:22 am. The volume of AVAV shares traded was 1368% higher than normal. AVAV reported upbeat Q4 profit. ZAGG Incorporated (NASDAQ: ZAGG) shares moved up 8.58% to $13.68. The volume of ZAGG shares traded was 431% higher than normal...
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UPDATE: Oppenheimer Initiates CEVA at Outperform
Wednesday, June 22, 2011 - 9:41am | 143Oppenheimer is out with its report today on CEVA (NASDAQ: CEVA), initiating CEVA at Outperform. In a note to clients, Oppenheimer writes, "We are initiating on CEVA Inc. with an Outperform rating and a price target of $34. CEVA is a quality name which leads in both market share and technology...
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Benzinga's Top Pre-Market NASDAQ Losers
Wednesday, June 22, 2011 - 8:23am | 110Volcom Inc (NASDAQ: VLCM) dipped 4.04% to $23.51 in the pre-market session. VLCM's PEG ratio is 1.50. Adobe Systems Incorporated (NASDAQ: ADBE) dropped 3.72% to $30.82 in the pre-market trading. ADBE posted a 54% surge in its quarterly profit. Logitech International SA (NASDAQ: LOGI) moved down 3...
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Benzinga's Top Pre-Market NASDAQ Gainers
Wednesday, June 22, 2011 - 8:16am | 120FriendFinder Networks Inc (NASDAQ: FFN) shares advanced 16.48% to $4.24 in the pre-market session. FFN's trailing-twelve-month operating margin is 24.20%. Achillion Pharmaceuticals Inc (NASDAQ: ACHN) shares advanced 3.49% to $6.22 in the pre-market session. ACHN priced an underwritten public...
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Oppenheimer Maintains Outperform on RF Micro Devices
Wednesday, June 22, 2011 - 7:46am | 136Oppenheimer is out with its report today on RF Micro Devices (NASDAQ: RFMD), maintaining Outperform. In a note to clients, Oppenheimer writes, "We hosted an investor meeting at RFMD's headquarters in Greensboro, NC. Our main takeaway is that RFMD is now close to an inflection point where share...
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UPDATE: Montrose Securities Color on Micron Technology Rating Adjustment
Wednesday, June 22, 2011 - 7:43am | 103Montrose Securities, which moved shares of Micron Technology (NYSE: MU) from Not Rated to Hold, is providing some color on the stock. “Our fair value for Micron is $11 and is based on a P/BV of 1.1-1.2x one-year forward book value,” Montrose Securities writes. “MU's May quarter should be above...
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Oppenheimer Initiates Coverage On CEVA, RRST, TSEM, RTLX
Wednesday, June 22, 2011 - 7:04am | 64Oppenheimer has initiated coverage on the following companies: CEVA Inc. (NASDAQ: CEVA) Outperform, $34 PT RRsat Global Communications (NASDAQ: RRST) Outperform, $9 PT Tower Semiconductor (NASDAQ: TSEM) Outperform, $1.50 PT Retalix (NASDAQ: RTLX) Perform, $15 PT