1:36PM Micron a 'compelling' 2nd-half investment: SoundView (MU) by Tomi Kilgore
SoundView Technology analyst Scott Randall believes the shares of Micron Technology (MU) are a "compelling" investment for the second half of the year, given attractive valuation and increasing memory loading at the corporate level. Randall noted that the PC market is uncertain and that excess motherboard inventory is a concern, but feels increasing contract prices suggest a better picture of supply and demand for memory. He feels there is little downside risk to the shares given current price-to-book valuation. Randall has a $32 price target on Micron, which is currently down 92 cents, or 5.1 percent, at $17.25.
1:20PM Spanish Broadcasting bucks trend (SBSA, HSP, UVN) by Tomi Kilgore
Shares of Spanish Broadcasting System (SBSA) are surging $1.03, or 17 percent, to $7.20 after the company reported second quarter revenue that exceeded expectations and free cash flow that rose over year earlier levels. Others Spanish-language broadcasters are not moving in sync, however, as Hispanic Broadcasting (HSP) slides $2.15 to $18.82 and Univision Communications (UVN) sheds $2.39 to $22.71.
11:11AM Trim Tabs now "cautiously bullish" by Julie Rannazzisi
Trim Tabs noted that stock buyback announcements "dropped off dramatically" last week just as the new offering calendar picked up. "We want to see a pickup in corporate buying before we resume a fully bullish stance," Trim Tabs said, indicating that it turned "cautiously bullish" this week from last week's "moderately bullish" stance.
10:42AM Taiwan Semi, United Micro off on Taiwan pres.'s comment (TSM, UMC) by Tomi Kilgore
The U.S.-listed shares of UnitedMicroelectronics (UMC) and Taiwan Semiconductor (TSM) are taking a beating after Taiwan president Chen Shui-bian said over the weekend that he supported legislation for a referendum on whether the island should declare independence from China. UnitedMicro is shedding 99 cents, or 19 percent, to $4.31 and Taiwan Semi is falling 77 cents, or 9.2 percent, to $7.58. According to local media reports, Shui-bian also rejected China's position that Taiwan and China belong to the same country. Taiwan's Weighted Index fell 5.8 percent overnight to its lowest close since late November.
9:41AM Stocks at 'extreme and unusual levels': SSB's Levkovich by Tomi Kilgore
Tobias Levkovich, institutional equity strategist at Salomon Smith Barney, feels the equity market is "at extreme and unusual levels," given that its valuations is trading as a "three standard deviation event." He does not believe the consumer is likely to "fail," citing strong personal spending growth, abating job losses and a solid asset base in home prices. Separately, he thinks the government bond market is signaling a "false buy" signal, and likens buying bonds in the current environment to buying stocks in March 2000.
6:55AM Four percent CEOs/CFOs certify with SEC so far by Emily Church
As of Friday, four percent or 37 of the 947 CEOs/CFOs required to certify financial filings with the Securities and Exchange Commission have done so. There is an Aug. 14 deadline for the signatures. The list can be monitored at this SEC web site: sec.gov |
