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Nomura Comments On Advanced Micro Devices Buyout Rumors, Notes Company 'Could Be Of Great Interest' To Chinese Buyer

Courtesy of Benzinga.

Related AMD
Analysts Weigh In On Advanced Micro Devices Buyout Rumor
Advanced Micro Devices Analyst Roundup Following Q4 Results
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Shares of Advanced Micro Devices, Inc. (NASDAQ: AMD) rose on Monday following a report that China-based BLX IC Design Corp is interested in acquiring the company.

Sanjay Chaurasia of Nomura on Tuesday commented in a note that Advanced Micro Devices and BLX IC Design have worked together in the past and opened a joint development center in Beijing, China back in 2003.

“We believe AMD's knowhow in servers and GPU technology (for supercomputing and HPC) could be of great interest to China, which has been trying to develop these technologies internally for years,” Chaurasia wrote.

The analyst does add that it may be difficult to value Advanced Micro Devices given the uncertainty around validity of its x86 license, GPU server server/dense server know-how, the company's cores, several IPs but a buyout price “could support a valuation that may reward current AMD shareholders.”

Shares are Neutral rated with a $3 price target.

Latest Ratings for AMD

Date Firm Action From To
Jan 2015 Deutsche Bank Maintains Hold
Jan 2015 Nomura Maintains Neutral
Jan 2015 Jefferies Maintains Buy

View More Analyst Ratings for AMD
View the Latest Analyst Ratings

Posted-In: Nomura Sanjay ChaurasiaAnalyst Color Analyst Ratings





UPDATE: Stifel Downgrades Life Time Fitness As Risk/Reward Appears Geared To Downside

Courtesy of Benzinga.

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In a report published Tuesday, Stifel analyst Steven Wieczynski downgraded the rating on Life Time Fitness, Inc. (NYSE: LTM) from Buy to Hold, and removed the $56.00 price target.

In the report, Stifel noted, “We are downgrading shares of LTM from Buy to Hold (Street covers with 4 Buys and 4 Holds), as we believe the risk/reward tradeoff is geared to the downside at current levels. Recall, LTM is currently considering the strategic separation of its real estate and operating assets into an Operating Company (Opco) and a separately traded REIT (Propco). As a result, shares currently trade at an over two-turn valuation premium of 17.2x CY15E EPS versus a trailing five-year historical average of 14.9x. While we view the valuation premium as justified based on our belief that a pro-forma sum-of-the-parts could be worth $60 to $70, we have a tough time identifying enough of an incremental upside opportunity based on core fundamentals over the next 12 months to maintain our Buy rating.”

Life Time Fitness closed on Monday at $56.71.

Latest Ratings for LTM

Date Firm Action From To
Jan 2015 Stifel Nicolaus Downgrades Buy Hold
Oct 2014 Stifel Nicolaus Maintains Buy
Jul 2014 Wedbush Downgrades Outperform Neutral

View More Analyst Ratings for LTM
View the Latest Analyst Ratings

Posted-In: Steven Wieczynski StifelAnalyst Color Downgrades Analyst Ratings





Benzinga's Top #PreMarket Gainers

Courtesy of Benzinga.

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Benzinga's Weekend M&A Chatter
Silicon Images Spikes Amid Report That It Retained Barclays To Explore Sale
Mid-Market Report: M&A Growth Slows in June (Fox Business)

Related LSCC
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Morning Market Losers

Silicon Image, Inc. (NASDAQ: SIMG) shares gained 23.09% to $7.25 in the pre-market trading session after the company agreed to be acquired by Lattice Semiconductor (NASDAQ: LSCC) in an all-cash tender offer of $7.30 per share.

TE Connectivity Ltd. (NYSE: TEL) shares jumped 6.08% to $67.00 in pre-market trading. TE Connectivity is reportedly near a seal to sell network business to CommScope Holding Company, Inc. (NASDAQ: COMM) for $3 billion, Wall Street Journal reported.

Parker-Hannifin Corporation (NYSE: PH) gained 4.27% to $128.00 in pre-market trading after the company reported upbeat Q2 earnings.

Novartis AG (ADR) (NYSE: NVS) shares rose 1.77% to $98.20 in pre-market trading on Q4 results. The company’s core EPS rose 3% to $1.21 in the quarter.

Ryanair Holdings plc (NASDAQ: RYAAY) shares surged 1.60% to $69.22 in pre-market trading after declining 0.97% on Monday.

Posted-In: PreMarket GainersNews Pre-Market Outlook Markets Movers





Morgan Stanley Asks, 'What's Driving Gold?'

Courtesy of Benzinga.

Related GLD
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Making Money With Charles Payne: 11/13/14 (Fox Business)

While other commodity prices have further softened recently, Gold rallied – rising from December low of $1,174/oz. to touch $1,300/oz. Joel Crane, an analyst at Morgan Stanley, expressed pessimism that the gold rally will continue further.

Morgan Stanley notes five potential catalysts driving demand: (1) pessimism for global economic activity; (2) reallocation from Swiss banks; (3) anxiety of a Eurozone breakup; (4) the ECB’s QE program; and (5) lack of other opportunities within commodities.

Crane notes that the inverse correlation between gold prices and the U.S. dollar have broken down. The ECB’s QE announcement, which indicates persistent low inflation, is also bearish for gold prices. The ECB’s move will spark demand for heavily-sold commodities and equities, the note says.

Crane notes that fundamental traders should exit the gold trade, while momentum traders might see opportunities for another four to six weeks.

The SPDR Gold Trust (ETF) (NYSE: GLD) traded recently at $124.17, up 1 percent.

Latest Ratings for GLD

Date Firm Action From To
Apr 2013 Oracle Investment Initiates Coverage on Strong Buy
Apr 2013 Oracle Investment Initiates Coverage on Strong Buy

View More Analyst Ratings for GLD
View the Latest Analyst Ratings

Posted-In: Joel Crane Morgan StanleyAnalyst Color Commodities Markets Analyst Ratings





Morgan Stanley: Dreamworks Animation Liquidity Fears 'Appear Overdone'

Courtesy of Benzinga.

Related DWA
Benzinga's Top Upgrades
B Riley Upgrades Dreamworks Animation To Buy
Putting Recent Layoff Reports in Economic Perspective (Fox Business)

Ryan Fiftal of Morgan Stanley commented in a note on Tuesday that DreamWorks Animation Skg Inc's (NYSE: DWA) has “more than ample” liquidity and that fears “appear overdone” and “should subside.”

According to Fiftal, DreamWorks Animation's $250 million remaining revolver capacity is sufficient to fund 2015's “heightened cash burn” and also be sufficient if the studio's next film, "Home", underperforms. Moreover, the analyst believes that if part or all of the studio's 2016 slate also misses expectations, the company has an additional $400 million of financial capacity to tap by borrowing against its assets and further selling its stake in AwesomenessTV.

“If DreamWorks' upcoming releases underperform our expectations there could be considerable further cash drag, though we believe DreamWorks' other sources of capital would likely be sufficient to fund operations,” Fiftal wrote.

Fiftal also suggests that if the company's Netflix, Inc. (NASDAQ: NFLX) TV output deal is not renewed, a sensitivity analyst suggests the company can still fund its operations.

However, if the company is forced to raise its financial leverage (on top of a business model with higher operating leverage) this will make the equity “more risky.”

Looking forward, the company will host its first Analyst Day since 2009 during the spring (date TBD).

Shares are Overweight rated with a $23 price target.

Latest Ratings for DWA

Date Firm Action From To
Jan 2015 B Riley Upgrades Neutral Buy
Jan 2015 Janney Capital Downgrades Neutral Sell
Jan 2015 Cowen & Company Downgrades Market Perform Underperform

View More Analyst Ratings for DWA
View the Latest Analyst Ratings

Posted-In: AwesomenessTV dreamworks animation Financial Leverage home Movie Studio NetflixAnalyst Color Analyst Ratings





Deutsche Bank Analyst Trims Engineering & Construction Outlook On Oil Glut

Courtesy of Benzinga.

Related FLR
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How TRIA Renewal Could Impact Construction (Fox Business)

Related KBR
Green Push Takes A Hit
D.A. Davidson Comments On The Engineering And Construction Sector, Offers Top Picks

New projects for engineering and construction companies related to oil and gas will decline by 25 percent in 2015 according to an analyst who trimmed earnings forecast for the group Tuesday.

Deutsche Bank's Vishal Shah downgraded to Hold Fluor Corporation (NYSE: FLR) and KBR, Inc. (NYSE: KBR) citing a weakened pipeline of new projects.

But Shah reiterated Buy ratings on three similar companies in the sector whose revenue visibility and potential for new business he believes are undervalued.

Those include Chicago Bridge & Iron Company N.V. (NYSE: CBI), MasTec, Inc. (NYSE: MTZ), and Quanta Services Inc (NYSE: PWR).

On more than a half-dozen companies in the sector, Shah cut his earnings forecast for 2015 by more than 14 percent, on average, to reflect a likely slowdown in underpinning projects and subsequent margin compression.

As the downturn in the energy sector plays out, Shah said investors in the engineering and construction sector will increasingly focus on balance sheet quality.

One emerging bright spot: gas-fired power generation projects which could partly offset declines related to oil and gas production and delivery.

Latest Ratings for FLR

Date Firm Action From To
Jan 2015 Barclays Maintains Overweight
Dec 2014 Standpoint Research Upgrades Hold Buy
Dec 2014 Stifel Nicolaus Maintains Buy

View More Analyst Ratings for FLR
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Vishal ShahAnalyst Color Downgrades Reiteration Analyst Ratings





UPDATE: Albert Fried Initiates Coverage On TubeMogul On Room For Share Growth

Courtesy of Benzinga.

In a report published Monday, Albert Fried & Company analyst Rich Tullo initiated coverage on TubeMogul Inc (NASDAQ: TUBE) with an Overweight rating and $23.00 price target.

In the report, Albert Fried & Company noted, “While TUBE shares are up 120% since the IPO the lock up expired on January 14, 2015, which means insider stock is potentially for sale. Despite the overhang, we think there is room for share growth as TUBE expands domestically, and globally and also as TUBE launches new applications such as Performance TV Ad buying. While the TUBE revenue model is complicated, we think investors will growth comfortable with the model as several industries such as Internet Search and the Oil Industry also have pass throughs. TUBE has less than 1% media buying market share and we think there is plenty of room for long-term growth.”

TubeMogul closed on Friday at $17.88.

Latest Ratings for TUBE

Date Firm Action From To
Jan 2015 Albert Fried & Co. Initiates Coverage on Overweight
Jan 2015 RBC Capital Upgrades Sector Perform Outperform
Dec 2014 Maxim Group Initiates Coverage on Buy

View More Analyst Ratings for TUBE
View the Latest Analyst Ratings

Posted-In: Albert Fried & Company Rich TulloAnalyst Color Initiation Analyst Ratings





Albert Fried & Co. Initiates TubeMogul At Overweight

Courtesy of Benzinga.

Analysts at Albert Fried & Co. initiated coverage on TubeMogul, Inc. (NASDAQ: TUBE) with a Overweight rating.

The target price for TubeMogul is set to $23.

TubeMogul’s shares closed at $17.88 on Friday.

Latest Ratings for TUBE

Date Firm Action From To
Jan 2015 Albert Fried & Co. Initiates Coverage on Overweight
Jan 2015 RBC Capital Upgrades Sector Perform Outperform
Dec 2014 Maxim Group Initiates Coverage on Buy

View More Analyst Ratings for TUBE
View the Latest Analyst Ratings

Posted-In: Albert Fried & Co.Initiation Analyst Ratings





RBC Capital Upgrades Garmin To Outperform

Courtesy of Benzinga.

Related GRMN
Garmin Announces GPSMAP, echoMAP Product Lines Have Received New Features
SunTrust On Wearables: Consumers Will Adapt To New Technology
Fitness Bands, Dog Collars Propel Garmin to 1Q Beat (Fox Business)

Analysts at RBC Capital upgraded Garmin Ltd. (NASDAQ: GRMN) from Sector Perform to Outperform.

The price target for Garmin has been raised from $65 to $67.

Garmin shares have surged 17.10% over the past 52 weeks, while the S&P 500 index has gained 15.17% in the same period.

Garmin’s shares fell 0.24% to close at $53.01 on Friday.

Latest Ratings for GRMN

Date Firm Action From To
Jan 2015 RBC Capital Upgrades Sector Perform Outperform
Jan 2015 Pacific Crest Upgrades Underperform Sector Perform
Jan 2015 JP Morgan Maintains Underweight

View More Analyst Ratings for GRMN
View the Latest Analyst Ratings

Posted-In: RBC CapitalUpgrades Analyst Ratings





Credit Suisse Downgrades Gran Tierra, Names Top Pick To Survive Low Oil

Courtesy of Benzinga.

Related GTE
Mid-Day Market Update: Smith & Wesson Gains On Strong Outlook; Express Shares Slide
Mid-Morning Market Update: Markets Tumble; Morgan Stanley Profit Misses Estimates

David Phung of Credit Suisse on Monday downgraded shares of Gran Tierra Energy Inc. (NYSE: GTE) to Neutral from Overweight with a price target lowered to $3 from $5 on the back of disappointing well results in Bretana Sur, which comprised a prior positive investment thesis of Columbia funding step-change growth in Peru.

“With some degree of uncertainty in future growth, the stock may see limited sustained momentum and we prefer to re-evaluate once the revised report is made available,” Phung wrote. The analyst adds that following the downgrade, Parex Resources is now “our top pick to weather this period of lower oil prices.”

Phung notes that Parex Resources' strong balance sheet and prospects for growth makes it best positioned to benefit from a potential recovery in oil prices.

Latest Ratings for GTE

Date Firm Action From To
Jan 2015 Credit Suisse Downgrades Outperform Neutral
Jan 2015 Paradigm Downgrades Buy Hold
Jan 2015 Mackie Research Downgrades Buy Hold

View More Analyst Ratings for GTE
View the Latest Analyst Ratings

Posted-In: Bretana Sur Credit Suisse David Phung Gran Tierra EnergyAnalyst Color Downgrades Reiteration Analyst Ratings





 
 
 

Chart School

Forecasting Q4 GDP: A Look at the WSJ Economists' Collective Crystal Ball

Courtesy of Doug Short.

The big economic number this week will be the Q4 Advance Estimate for GDP on Friday at 8:30 AM EST. For some perspective on quarterly GDP so far this year, Q1 was negative at -2.1%, followed by a strong rebound to 4.6% in Q2 and a drift higher in Q3 to 5.0%. The standard explanation for the Q1 contraction is the economic impact of an unseasonably cold winter.

What do economists see in their collective crystal ball for Q4 of 2014? Let's take a look at the GDP forecasts from the latest Wall Street Journal survey of economists conducted earlier this month.

Here's a snapshot of the full array of WSJ opinions about Q4 GDP. I've highlighted the values for the median (middle), mean (average) and mode (most frequent). In the latest forecast, the median and mean were an identical to one decimal place at 3.0%. The mode (seven of 65 forecasts) was a tad high...



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Zero Hedge

Greece Begins The Great Pivot Toward Russia

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Ten days ago, before the smashing success of Greece's anti-austerity party, Syriza, we noted that Russia gave Greece a modest proposal: turn your back on Europe, whom you despise so much anyway, and we will assist your farmers by lifting the food import ban.

And, sure enough, Greece's new premier Tsipras did hint with his initial actions that Greece may indeed pivot quite aggressively away from Europe and toward Russia in general and the Eurasian Economic Union in particular (as a tangent recall "...



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Phil's Favorites

Email From US Special Forces Veteran; 500 US Blackwater Mercenaries in Ukraine? US Backs Ukrainian Neo-Nazis

Courtesy of Mish.

US Special Forces in Ukraine?

In response to US Special Forces in Mariupol? I received an interesting email from "Dan" a 23-year Army veteran with four years in special services.

Dan writes ...
I was a soldier in the US Army for 23 years including four years in Special forces Stationed in Germany. I would agree that there is a strong likelihood that this is a US Special Forces soldier.

I can tell you that we were issued AK 74s and would use them on a mission such as this. That is about all I would really want to say at this point.

It is obvious to me that our strategy is the Balkanization of the various hot spots in the world, Syria, Ukraine, Iraq and so forth.

You can call m...



more from Ilene

All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

more from David

Insider Scoop

Morgan Stanley Asks, 'What's Driving Gold?'

Courtesy of Benzinga.

Related GLD Jim Cramer Shares His Thoughts On Gold, Kinder Morgan And Dollar Tree Mike Khouw Sees Bullish Options Activity In SPDR Gold Trust Making Money With Charles Payne: 11/13/14 (Fox Business)

While other commodity prices have further softened recently, Gold rallied – rising from December low of $1,174/oz. to touch $1,300/oz. Joel Crane, an analyst at Morgan Stanley, expressed pessimism that...



http://www.insidercow.com/ more from Insider

OpTrader

Swing trading portfolio - week of January 26th, 2015

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Sabrient

Sector Detector: With the Fed fading into shadows, investors look overseas for new catalysts

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Sabrient Systems and Gradient Analytics

By Scott Martindale

Last week, the S&P 500 put an end to its streak of weekly losses, despite giving back some gains on Friday. Thursday provided the big catalyst, with the ECB’s announcement of its bold new monetary stimulus plan. Investors were cheered and soothed for the moment. And U.S. fundamentals still look strong. But with Greece trying to turn back time, with volatility elevated (and likely to continue as such), and with the technical situation still dicey, the near term outlook is still worrisome.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart...



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Market Shadows

Are You Trading or Gambling?

ARE YOU TRADING OR GAMBLING?

An interview with John Ehlers of Stock Spotter and Mesa Software

By Ilene

Ilene: John, in our last discussion about trading systems in general and yours in particular (Can trading be reduced to cycles, stresses and vibrations?) you mentioned Monte Carlo simulations and their use in measuring performance. Can you explain more about how you measure the performance of a trading system?

John: Let's start with comparing trading with gambling. The two have several things in common.  In both ...



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Digital Currencies

Jitters After Bitcoin Exchange Suspends Services

So as I was saying yesterday (Bitcoin: The Biggest Clown Show In History?), Bitcoin has several obstacles on the path to potential success as an alternative currency. But I forgot to mention hacking and theft at Bitcoin exchanges and other technical problems. This is related to the lack of government backing and the fact that the value of Bitcoins is based entirely on confidence.  

Jitters After Bitcoin Exchange Suspends Services 

By 



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Pharmboy

2015 - Biotech Fever

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

PSW Members - well, what a year for biotechs!   The Biotech Index (IBB) is up a whopping 40%, beating the S&P hands down!  The healthcare sector has had a number of high flying IPOs, and beat the Tech Sector in total nubmer of IPOs in the past 12 months.  What could go wrong?

Phil has given his Secret Santa Inflation Hedges for 2015, and since I have been trying to keep my head above water between work, PSW, and baseball with my boys...it is time that something is put together for PSW on biotechs in 2015.

Cancer and fibrosis remain two of the hottest areas for VC backed biotechs to invest their monies.  A number of companies have gone IPO which have drugs/technologies that fight cancer, includin...



more from Pharmboy

Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's this week's Stock World Weekly.

Click here and sign in with your user name and password. 

 

...

more from SWW

Option Review

SPX Call Spread Eyes Fresh Record Highs By Year End

Stocks got off to a rocky start on the first trading day in December, with the S&P 500 Index slipping just below 2050 on Monday. Based on one large bullish SPX options trade executed on Wednesday, however, such price action is not likely to break the trend of strong gains observed in the benchmark index since mid-October. It looks like one options market participant purchased 25,000 of the 31Dec’14 2105/2115 call spreads at a net premium of $2.70 each. The trade cost $6.75mm to put on, and represents the maximum potential loss on the position should the 2105 calls expire worthless at the end of December. The call spread could reap profits of as much as $7.30 per spread, or $18.25mm, in the event that the SPX ends the year above 2115. The index would need to rally 2.0% over the current level...



more from Caitlin

Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>