Last nights notable events
Texas Instruments Incorporated (TXN)
National Semiconductor Corporation (NSM)
TXN paying a huge premium for NSM
“TXN made for a great liquidity event trade post market. In long several tier several times at the 33.40 level out above 34.- Guarding its competitors pre market. “
Upgrades-Downgrades of note:
Ciena Corporation (CIEN)
upgraded to Buy from Neutral at BofA/Merrill – Price target raised to $34 from $26.
Olin Corporation (OLN)
upgraded to Buy from Underperform at BofA/Merrill
Price target raised to $31 from $22.
Taiwan Semiconductor Mfg. Co. Ltd. (TSM)
Upgraded to Buy from Hold at Deutsche Bank
Maxim Integrated Products Inc. (MXIM)
downgraded to Neutral from Outperform at Cowen – Cowen downgraded Maxim Integrated (MXIM) citing a shift in competitive dynamics for the analog industry following Texas Instruments’ (TXN) acquisition of National Semi (NSM).
Netflix, Inc. (NFLX) “3rd firm in 3 weeks to go to a 280 price target”
target raised to $280 from $240 at Piper Jaffray
Zions Bancorporation (ZION)
upgraded to Buy from Neutral at Suntrust
Coinstar, Inc. (CSTR)
upgraded to Outperform from Market Perform at Northland Securities; tgt $56 saying redbox 1Q Performance is tracking ahead of numbers
The Gap Inc. (GPS)
downgraded to Hold from Buy at Standpoint Research
Cubist Pharmaceuticals, Inc. (CBST) “Good pre market liquidity and 30 round level above”
target raised to $33 from $27 at Needham
Diamond Foods, Inc. (DMND) “Reopens in pre market with good liquiridity at 8:15”
Signs $1.5B Pringles Merger With P&G In Second Chip Bet
Cree, Inc. (CREE)
Hearing downgraded at tier 1 firm (Stock Price: 45.68)
Apple Inc. (AAPL)
price target raised to $450 from $440 at Deutsche Bank
Prospect Capital Corporation (PSEC)
Prospect Capital Corporation 9M share Spot Secondary priced at $11.55
Tim’s Comments are in BOLD Italics
Tim’s highlights ae in BOLD
Disclosure short MXIM overnight – PSEC Long pre mkt TXN long pre market
*DISCLOSURE: Long PSEC, SLV, TXN, Short MXIM.
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