Tech Stocks

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Apache Corporation APA Stock News

Apache Corporation (NYSE: APA) was off to a rough day in the market today, but that didn’t last long. In fact, the stock started to spike minutes ago as rumors started to spread. A special thanks goes out to our friends at Trade Ideas for being the first to alert us to the gains. At the moment (10:02), APA is trading at $47.88 per share after a gain of $0.14 per share (0.29%) thus far today.





APA Gains On Takeover Chatter

As mentioned above, Apache Corporation wasn’t off to the best of starts in the market today. In fact, since the open, the stock was trading in the red. That is, until minutes ago, when the stock quickly spiked into the green. Ultimately, the gains can be attributed to takeover rumors that are running surrounding the stock. While the rumors are quite vague, they do suggest that the company will soon be taken over. However, they do not suggest at what price, nor who the buyer might be.




Any time we see these rumors, it’s important to remember that rumors are just that… rumors – most of which prove to be invalid. In this particular case, that’s what we believe we are seeing. There are a couple of reasons for this. First and foremost, if a takeover rumor is true, the rumor insinuates who the buyer is and at what price most of the time.  That’s not the case here. Also, this rumor is nearly impossible to track to its source.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on APA. In particular, we’re going to be watching to see if there is indeed any validity to the rumors that are circling the stock at the moment. While we don’t believe this to be the case, anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Ambarella Inc AMBA Stock News

Ambarella Inc (NASDAQ: AMBA) was having a relatively rough start to the trading session this morning, spending most of the first hour of the day in the red. However, that all changed minutes ago as a rumor surrounding the company started to break. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:34), AMBA is trading at $51.59 per share after a gain of $0.57 per share (1.12%) thus far today.





AMBA Spikes On Rumors

As mentioned above, Ambarella wasn’t off to the best of starts in the market today. However, that all changed minutes ago as a rumor surrounding the company started to break. The rumor suggests that the company is in the process of exploring a sale. However, in these cases, companies usually hire bankers to assist in this process, and we have not heard anything about anyone being hired to assist.




With that said, now is the perfect time to remind readers that rumors are nothing new in the market. In fact, they happen quite regularly. Unfortunately, however, most of the time a rumor takes place, it is not based in fact. In this particular case, while AMBA may be exploring a sale some day, we don’t believe that today is that day. The bottom line is that the rumor is overwhelmingly vague and tracking down the source of the rumor is nearly impossible.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on AMBA. In particular, we’re interested in following the story to see if the company is indeed exploring a sale. While we don’t believe that this is the case, the truth is that anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Advanced Micro Devices, Inc. AMD Stock News

Advanced Micro Devices, Inc. (NASDAQ: AMD) isn’t off to the best of starts in the pre-market hours this morning, and for good reason. The stock was hit by a big downgrade, leading to fear among investors and pushing the value of the stock toward the bottom. Of course, our partners at Trade Ideas were the first to alert us to the declines. At the moment (8:40), AMD is trading at $13.27 per share after a loss of $0.53 per share (3.84%) thus far today.





Barclays Downgrades AMD

As mentioned above, Advanced Micro Devices isn’t having the best of times in the pre-market hours this morning after Barclays made the decision to downgrade the stock. Barclays Analyst Blayne Curtis downgraded the stock from equal weight to underweight. In the process, the analyst cut the price target to $9 per share, saying it will reach this mark within a year. That’s a 35% implied downside and the target is 31% below the consensus average of $13.01 per share. So, what’s the big deal?




One of the big issues here is that the market is currently pricing AMD based on expectations of many that the company will take a large chunk of Intel’s market share. While a slice may be taken out of Intel by AMD, the analyst believes that there’s not going to be enough to cause the company to maintain its exorbitant price.

Another big factor here has to do with the cryptocurrency boom that recently took place. After all, Bitcoin and Ether miners must use high-end technology in order to efficiently do their work. However, Wall Street is warning that the cryptocurrency boom could run out of steam relatively soon, and that’s bad news for AMD. After all, cryptocurrency values are starting to fall, and when prices fall, mining isn’t quite as lucrative.

So, the idea here is that AMD has a price that includes expectations of continued growth in demand thanks to cryptocurrency mining as well as an expectation of Advanced Micro Devices taking a large chunk of Intel’s market share in this space. However, the analyst behind the downgrade simply doesn’t believe that this is the case.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on AMD. In particular, we’re interested in following the company to see if a demand shortage does start to take place as cryptocurrency prices fluctuate. However, we believe that various key factors were left out of the expectations here. Perhaps, the most important of these factors is that AMD is likely to take a large chunk of Intel’s market share in the data center industry. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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3D Systems Corporation DDD Stock News

3D Systems Corporation (NYSE: DDD) was off to a relatively rough day in the market today, spending most of the morning in the red. However, minutes ago, the stock quickly spiked into the green, and for good reason. A rumor surfaced, causing excitement among investors and prompting our friends at Trade Ideas to alert us to the gains. At the moment (10:34), DDD is trading at $18.14 per share after a gain of $0.13 per share or 0.72% thus far today.





DDD Gains On Takeover Rumors

As mentioned above, 3D Systems was off to a rough day in the market until minutes ago when the stock started to spike into the green. The gains are ultimately the result of rumors surrounding the company. Those rumors suggest that DDD will soon be taken over. However, like most rumors in the market, this one is overwhelmingly vague. The rumor is only that the company may soon be taken over, but doesn’t offer any information with regard to who the buyer might be nor what the price might be.




At the end of the day, this isn’t the first rumor we’ve seen in the market, and it sure isn’t going to be the last. The bottom line is that rumors happen all of the time, and very few of them ever prove to be valid. Considering the fact that this rumor is overwhelmingly vague and it’s seemingly impossible to track down the source, I would bet my bottom dollar that this is a false one. So, if you do plan on trading on this news, please be sure to do so with caution.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on DDD. In particular, we’re interested in seeing if a takeover is indeed going to take place. While we don’t believe that there is any validity to the rumor, anything can happen in the market. Nonetheless, we’ll continue to follow the story and bring the news to you as it breaks!

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Himax Technologies, Inc. (ADR) HIMX Stock News

Himax Technologies, Inc. (ADR) (NASDAQ: HIMX) is having an incredibly rough time in the pre-market trading hours this morning, and for good reason. Early this morning, a highly trusted analyst downgraded the stock, suggesting a massive downside. Of course, this led to fear among investors, causing the stock to fall dramatically and prompting our partners at Trade Ideas to alert us to the losses. At the moment (9:12), HIMX is trading at $7.61 per share after a loss of $0.40 per share or 4.99% thus far today.





HIMX Falls On Oppenheimer Downgrade

As mentioned above, Himax Technologies is having an incredibly rough time in the market at the moment after news broke of a key downgrade. According to various reports, Oppenheimer has made the decision to downgrade the stock. Ultimately, the rating on the stock was cut to an underperform. However, that’s not the worst news.




The worst news comes by way of the price target. In cutting the rating on HIMX, Oppenheimer also cut the price target on the stock to $4 per share. Considering that last night’s closing price on the stock was $8.01, that’s a massive hit. In fact, it represents a downside of about 50.6% suggesting that in a relatively short period of time, HIMX will lose half of its value!

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on HIMX. In particular, we’re interested in following the company to see if its sales and earnings reports are going to be so bad that investors push the stock to half of what it closed at yesterday in the coming year or so. Nonetheless, we’ll continue to follow the story closely and bring it to you as it breaks!

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Applied Optoelectronics Inc AAOI Stock News

Applied Optoelectronics Inc (NASDAQ: AAOI) is having an incredibly strong start to the trading session this morning after releasing preliminary, unaudited results for the second quarter. Of course, the results were positive, leading to excitement among investors and gains in the value of the stock. At the moment (10:11), AAOI is trading at $76.55 per share after a gain of $3.91 per share (5.38%) thus far today.





AAOI Releases Preliminary Q2 Results

As mentioned above, Applied Optoelectronics is having a strong start to the trading session this morning thanks to the release of preliminary unaudited financial results for the second quarter. Here are the results the company offered:




  • Revenue of approximately $117.3 million, above the prior outlook of $106.0 million to $112.0 million.
  • GAAP and non-GAAP gross margin in the range of 45.0% to 45.4%, above the prior non-GAAP outlook of 41.0% to 42.5%.
  • GAAP net income in the range from $28.0 million to $29.0 million and non-GAAP net income after tax in the range from $26.6 million to $27.6 million, above the prior non-GAAP outlook of $22.2 million to $24.3 million.  
  • GAAP fully diluted earnings per share in the range of $1.37 to $1.42 and non-GAAP fully diluted earnings per share in the range of $1.31 to $1.36, using a weighted-average fully diluted share count of approximately 20.4 million shares. This is above the prior non-GAAP outlook of $1.09 to $1.19 per share, using approximately 20.4 million shares.

In a comment, Dr. Thompson Lin, Founder, President and CEO at AAOI, had the following to offer:

“I’m pleased to announce that we expect to deliver another record quarter with our top and bottom-line results expected to exceed our guidance,” said Dr. Thompson Lin, Applied Optoelectronics, Inc. founder, president and CEO. “Again this quarter, our results were driven by improvement in our manufacturing costs, capacity expansion and solid execution by our production team. We are pleased with our performance and look forward to sharing the additional details of our second quarter results on our conference call in August.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to watch AAOI incredibly closely. In particular, we’re interested in seeing the Q2 report to see if the numbers do come in line with these great preliminary results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Garmin Ltd. GRMN Stock News

Garmin Ltd. (NASDAQ: GRMN) was having a relatively normal day in the market for the first hour or so. However, rumors broke minutes ago, and that all started to change. Investor excitement began sending the stock upward. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:31), GRMN is trading at $50.65 per share after a gain of $0.35 per share (0.70%) thus far today.





GRMN Gains On Takeover Rumors

Today seems to be the day of the rumor as the second takeover rumor breaks only an hour into the session. This time, Garmin is finding its way upward as rumors break that the company will soon be taken over. As with most stock-market rumors, the rumor surrounding GRMN is a very vague one. All it suggests is that the stock will be taken over. There’s nothing insinuated with regard to who will be taking the company over, nor at what price a takeover might happen. This brings us to the next point…




The reality is that this isn’t the only rumor we’ve seen in the market. Given the fact that we saw one on QRVO earlier today, and we’ve seen several takeover rumors so far this week, they are actually quite common. What is also common is the fact that these rumors largely prove to be untrue. Given the lack of details with regard to the potential for a GRMN takeover, we’d have to say that this is likely nothing more than invalid chatter. So, if you’re going to trade the news, please do so with caution.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on GRMN. Of course, we want to know whether or not the rumors have any truth to them. While we don’t believe this to be the case, anything can happen, and a takeover would be overwhelmingly positive for investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Snap Inc SNAP Stock News

Snap Inc (NYSE: SNAP) is having an overwhelmingly rough start in the pre-market this morning, and for good reason. The company was the center of an analyst downgrade, but not just any downgrade. The bank that downgraded the stock was also the one that helped to take the company public. Of course, this led to concerns among investors, causing declines in the stock and prompting our partners at Trade Ideas to alert us to the losses. At the moment (8:22), SNAP is trading at $16.99 per share after a loss of $0.71 per share (4.18%) thus far today.





SNAP Falls On Analyst Downgrade

As mentioned above, Snap Inc (the parent company of Snapchat) is having a rough day in the market today after the same investment bank that took the stock public produced an analyst downgrade surrounding the stock. It seems that as soon as the stock fell below its IPO price of $17 per share, Morgan Stanley decided to lose faith.

In a note this morning, the company announced that it has downgraded the stock to equal weight from overweight and cut the price target from $28 per share to $16 per share. In a note, analyst Brian Nowak had the following to offer:




SNAP’s ad product is not evolving/improving as quickly as we expected and instagram competition is increasing… We have been wrong about SNAP’s ability to innovate and improve its ad product this year (improving scalability, targeting, measurability, etc.) and user monetization as it works to move beyond ‘experimental’ ad budgets into larger branded and direct response ad allocations.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on SNAP. In particular, we’re interested in seeing if these analyst notes light a fire under the company and get innovation rolling on the advertising side of the coin. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Tesla Inc TSLA Stock News

Tesla Inc (NASDAQ: TSLA) is off to a rough day in the market today. However, at the moment, the stock is spiking, working its way to the green. The gains seem to be the result of a rumor that has investors excited. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:20), TSLA is trading at $309.48 per share after a loss of $3.74 per share (1.19%) thus far today.





TSLA Gains On Rumored AAPL Investment

As mentioned above, Tesla started the day off today on a rough note, trading in the red early on. However, at the moment, the stock is working its way back toward the green, thanks to a rumor that’s sweeping across the street. The rumor is that Apple, Inc. (NASDAQ: AAPL) intends to make an investment in the company.




Of course, it’s important to keep in mind that we see rumors in the market all the time, very few of which prove to be valid. In this particular, case, the rumor is unconfirmed by either party. However, it does make sense. TSLA has been working on various projects in the vehicle-based and solar-based technology sectors. If Apple wants to get their hands on the technology the company is coming up with, a large investment is due. Nonetheless, at the moment, this is still a rumor.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on both TSLA and AAPL. In particular, we’re interested in seeing if this investment does indeed take place. Considering the issues Tesla has faced as of late, an investment from Apple could prove to be a saving grace. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Palo Alto Networks Inc PANW Stock News

Palo Alto Networks Inc (NYSE: PANW) is having an incredibly strong day in the market today, and for good reason. Citi upgraded the stock today, proving to be the catalyst for the gains. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:18), PANW is trading at $138.06 per share after a gain of $5.42 per share or 4.09% thus far today.





PANW Gains On Citi Upgrade

As mentioned above, Palo Alto Networks is having an incredibly strong day in the market today after an analyst at Citi upgraded the stock. Citi announced earlier that the stock was upgraded from a Neutral rating to a Buy rating. The price target was also increased from $147 to $160. Analyst Waller Pritchard, had the following to offer with regard to upgrading PANW…




We expect next wave of network security growth to come from platform consolidation where PANW is well-positioned. We note PANW has subscription (non-maintenance) attach that is ~50% ahead of CHKP and overall annuity attach 10% ahead of FTNT. A by-production of significant growth in recurring revs is that exiting 2018, shares should have support of 6.6x EV/LTM recurring revs.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on PANW. In particular, we’ll be following the company to see if Citi was correct. Given recent movements in management and the report by Citi, things are looking positive. Nonetheless, we’ll continue following the story and bringing you the news as it breaks!

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Thought Leader Discussions

Gevo, Inc. GEVO Stock News

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Gevo, Inc. (NASDAQ: GEVO) Before we get into this interview, I'd like to extend a special thanks to my friend Joey who both set up the...