Going against the majority opinion of investors and analysts - who give Nvidia (NASDAQ:NVDA) an edge in the technological competition with Advanced Micro Devices (NYSE:AMD) - the shares of this company have been rising steadily since Friday 11. In fact, in twelve trading sessions AMD's share price has climbed from $6.30 to $8.93. With strong volume the company has traded in the mentioned period around 626 million shares. The chart below is illustrative.
(click to enlarge) Click to enlarge
Charts courtesy of StockCharts.com
Note: All charts are in semi-logarithmic scale
Top 10 Tech Stocks To Own For 2017: Paylocity Holding Corporation(PCTY)
Advisors' Opinion:- [By Peter Graham]
A long term performance chart shows shares of Box Inc underperforming potential small cap peers such as�Paycom Software Inc (NYSE: PAYC), Paylocity Holding Corp (NASDAQ: PCTY) and TriNet Group Inc (NYSE: TNET)�which also debuted around the same time:�
Top 10 Tech Stocks To Own For 2017: Bruker Corporation(BRKR)
Advisors' Opinion:- [By Javier Hasse]
Yet another stock experiencing a correction after the bell was Bruker Corporation (NASDAQ: BRKR), which lost 2.75 percent in after-hours, after having gained 4.5 percent during the day.
Top 10 Tech Stocks To Own For 2017: Corning Incorporated(GLW)
Advisors' Opinion:- [By Laurie Kulikowski]
GLW's debt-to-equity ratio is very low at 0.20 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 3.30, which clearly demonstrates the ability to cover short-term cash needs.
- [By Laurie Kulikowski]
CORNING INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, CORNING INC increased its bottom line by earning $1.73 versus $1.34 in the prior year. For the next year, the market is expecting a contraction of 20.2% in earnings ($1.38 versus $1.73).
- [By Lisa Levin]
Alliance Fiber Optic Products Inc (NASDAQ: AFOP) shares shot up 19 percent to $18.47 after the company agreed to be acquired by Corning Incorporated (NYSE: GLW) for $18.50 per share.
- [By Laurie Kulikowski]
The gross profit margin for CORNING INC is rather high; currently it is at 51.58%. Regardless of GLW's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 9.33% trails the industry average.
Top 10 Tech Stocks To Own For 2017: Dover Corporation(DOV)
Advisors' Opinion:- [By Richard Moroney, Editor, Dow Theory Forecasts]
Dover (DOV), a maker of specialized industrial products and manufacturing equipment, is being initiated as a Long-Term Buy. Dover announced a 7% hike to its quarterly dividend in August, marking 58 straight years of increases.
- [By Ben Levisohn]
While the direct revenue exposure to the UK is relatively small across our coverage (aside from�Tyco and Idex), the potential impact from Brexit is much more widespread across the continent and the world. The impact should be most negative for our companies with larger industrial exposure to Europe, just as we have begun to hear incrementally positive commentary regarding Europe.�Idex and�Tyco have some of the highest direct exposures to UK and Europe but Tyco’s business should be relatively more stable and in any case the�Johnson Controls (JCI) synergies loom large. Eaton (ETN) and Emerson Electric, though with slightly smaller exposure, are more involved with industrial spending.�Danaher and�Honeywell have high revenue exposure, but we believe that their more benign end market exposure should mitigate some of the negative consequences they face. We rate Allegion (ALLE), Danaher, Dover (DOV), Fortive (FTV), Honeywell, Ingersoll-Rand (IR), Pentair (PNR) and�Tyco Outperform; Emerson Electric, Eaton, General Electric (GE),�Idex and 3M (MMM) Market-Perform; Rockwell Automation (ROK) Underperform.
- [By Ben Levisohn]
Industrial companies like Dover (DOV), Emerson Electric (EMR), Eaton (ETN), 3M (MMM) and Rockwell Automation (ROK) are calling for earnings growth to get better during the second half of the year. Bernstein’s Steven Winoker and team aren’t feeling as confident:
3M headquarters Bloomberg NewsGuidance still calling for 2H pickup. Most companies left their growth forecast for the fiscal year unchanged, while about half of our coverage updated their forecast for FY16 EPS. Danaher (DHR) and Ingersoll-Rand (IR) encouragingly increased their forecasts following a better 1Q and outlook for the rest of the year. Less positively, Dover finally updated its guidance after pre-announcing this quarter’s weakness, and this recent cut was the 7th round and the worst during this downturn. Tyco International (TYC) trimmed its expectations of Global Products growth, given the continued pressure it faces from harsh and hazardous markets. For companies holding their full-year guidance, most are still expecting a 2H pick-up in the macro industrial outlook to support growth acceleration or an inflection back to positive growth.
Recall that our companies generally do not have great forward visibility in volatile markets. We see the most risk to guidance for the most cyclical and/or shorter-cycle names, particularly Dover, Emerson Electric, Eaton,�3M and Rockwell Automation, as commodity prices remain low and industrial spending faces more risks of cuts.
Shares of Dover have gained 0.1% to $63.58 at 2:13 p.m. today, while Emerson Electric is little changed at $52.79, Eaton has ticked down 0.1% to $60.94,�3M has advanced 0.3% to $167.61, and Rockwell Automation risen 0.5% to $111.64.
Top 10 Tech Stocks To Own For 2017: FormFactor, Inc.(FORM)
Advisors' Opinion:- [By Jim Robertson]
On Tuesday, our Elite Opportunity Pro�newsletter suggested small cap semiconductor equipment & testing stock FormFactor, Inc (NASDAQ: FORM) as a short term long trade that��s a ��pure small cap play with excellent valuation metrics, in addition to some very attractive chart implications right now:��
Top 10 Tech Stocks To Own For 2017: Computer Programs and Systems Inc.(CPSI)
Advisors' Opinion:- [By Lisa Levin]
Shares of Computer Programs & Systems, Inc. (NASDAQ: CPSI) were down 31 percent to $27.00 after the company posted weaker-than-expected Q2 results.
Top 10 Tech Stocks To Own For 2017: Semtech Corporation(SMTC)
Advisors' Opinion:- [By Monica Gerson]
Semtech Corporation (NASDAQ: SMTC) is projected to post its quarterly earnings at $0.27 per share on revenue of $128.38 million.
Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI) is estimated to post its quarterly earnings at $0.17 per share on revenue of $190.44 million.
Top 10 Tech Stocks To Own For 2017: Qorvo, Inc.(QRVO)
Advisors' Opinion:- [By Jim Robertson]
Yesterday, our Elite Opportunity Pro�newsletter suggested picking up some mid cap radio frequency (RF) solutions stock Qorvo Inc (NASDAQ: QRVO) at current levels:
Top 10 Tech Stocks To Own For 2017: Medivation Inc.(MDVN)
Advisors' Opinion:- [By Lisa Levin]
Shares of Medivation Inc (NASDAQ: MDVN) got a boost, shooting up 24 percent to $46.35 amid word of a new report from Bloomberg, saying the company is working with bankers to defend itself against preliminary interest of a takeover. However, Reuters separately reported the company is working with JPMorgan to handle interest from other companies, but said Medivation has no interest in selling itself.
- [By Ben Levisohn]
Macro considerations have continued to weigh on stocks whenever they’ve shown signs of life and consensus estimates for many of the large cap companies have been declining. With the sector’s underperformance, the delta in the average PEG ratio for biotech growth companies (excluding Medivation (MDVN)) compared to non-biotech growth companies is slightly wider than it’s been for most of the year. As such, we remain constructive on the sector. That said, while valuations are attractive on a relative basis, there remains some uncertainty for the group and we would not be surprised to see the volatility continue…
- [By Ben Levisohn]
Well, it looks like Medivation (MDVN) now has five suitors after reports that Amgen (AMGN) is joining Pfizer (PFE), Sanofi (SNY), AstraZeneca (AZN) and Novartis (NVS) in considering a bid. Maxim’s Jason Kolbert and Jason McCarthy offer their thoughts:
Medivation reports tonight at 4:30pm…
We expect the focus to be on the recent proposals from Sanofi (SNY $38.75- NR); Pfizer (PFE $33.40 -NR), AstraZeneca (AZN $28.26-NR) and just today, Amgen (AMGN – $154.18 – NR)…
Medivation is returning to new highs as suitors line up to make acquisition bids. In this scenario what is the right discount rate for modeling purposes?
We believe our model for Xtandi revenues is good, therefore we review our risk rating and determine the following: �� 30% = $47 �� 15% = $76 �� 10% = $99
With Medivation’s board having now said No to anything less than $65 per share, it suggests to us that the stability and predictability of Xtandi’s revenues is greater than we thought, the risk is lower. Our intermediate risk rating is 15% or $76 fair value.
Shares of Medivation rose 0.3% to $59.22 today, while Pfizer gained 0.5% to $33.56, Sanofi fell 0.5% to $39.07, AstraZeneca dropped 0.6% to $39.07, Novartis declined 0.3% to $74.12, and Amgen ticked up 0.1% to $154.25.
- [By Ben Levisohn]
RBC’s Simos Simeonidis and Matthew Eckler try to find the right comparison for Pfizer’s (PFE) purchase of Medivation (MDVN):
Scott Eisen/Bloomberg NewsWe were obviously wrong with our Sector Perform rating: while we knew an M&A transaction was definitely a good possibility, we just could not get to this level of valuation using a realistic Xtandi model and thus could not recommend the stock. The only way for us to get to $81.50 (or even to $60-$70/share) would have been to assign very significant value to talazoparib. And we could not do that given the amount of available clinical evidence.�Medivation shareholders who held on to their shares past the $50′s, did just that, were proven right and are now rewarded for it, since they believed that someone would be willing to pay for this asset just months ahead of Phase III data. The key question is why would a company be willing to part with what they claim/think may be a multibillion dollar drug that works in multiple cancers. We believe the obvious answer is because they’re smart and understand drug development risk better than most. We’ll know in a matter of months whether Pfizer/Medivation is like Amgen (AMGN)-Onyx (carfilzomib) or not.
- [By Monica Gerson]
Medivation Inc (NASDAQ: MDVN) is said to have spurned recent takeover approach from France's Sanofi SA (ADR) (NYSE: SNY), according to sources as reported by Bloomberg on Tuesday. Sanofi wants Medivation's treatments for hard-to-cure cancers, the sources said. Medivation shares surged 8.46 percent to $49.60 in the after-hours trading session, while Sanofi shares fell 0.59 percent to $42.02 in after-hours trading.
Top 10 Tech Stocks To Own For 2017: Twitter, Inc.(TWTR)
Advisors' Opinion:- [By Lisa Levin]
Twitter Inc (NYSE: TWTR) shares dropped 16 percent to $14.90. Twitter reported better-than-expected earnings for its first quarter on Tuesday. However, the company reported weak quarterly revenue and issued a downbeat revenue forecast for the second quarter.
- [By The Ticker Tape]
Two technology giants are on tap Tuesday after the markets close and another one on Wednesday, ahead of the bell: Twitter Inc (NYSE: TWTR), Apple Inc. (NASDAQ: AAPL) and Facebook Inc (NASDAQ: FB). What innovations are these social media and technology disruptors up to now?
- [By kiplinger]
Columnist James K. Glassman is again investing in Twitter (TWTR). It was his pick for 2015, when he identified it as a poorly managed company that would soon find its way. With more than 300 million active users per month, revenues rising at more than 40% annually, and Jack Dorsey back as CEO, Glassman thinks 2016 and beyond will be its time to shine.
- [By Vikram Nagarkar]
The most interestingly titled story came out two days later on 17th November, with the headline "Why Salesforce.com Might Now Suddenly Acquire Twitter Inc (CRM) (TWTR)". Not only does that make the whole thing sound like a dubious, devious ploy, it also propagates a theory that doesn't make too much sense.
- [By Vikram Nagarkar]
San Francisco, California-based Twitter Inc (NYSE:TWTR)�has given investors quite a few things to cheer about this year. Yet, TWTR stock is down by over 22% for the year so far, even after a ~20% rally in the last six months. Beyond the reasonable success Twitter has seen in live streaming, the micro blogging site has recorded many other positives as well. From generating positive free cash flows for four quarters in a row, to job cuts (cost cutting), and voicing its focus on turning a profit in 2017, Twitter has conveyed its intent to fix its financials. That said, some niggling concerns are yet to be addressed. Can Twitter Inc turn things around in 2017? More importantly, should you bet on it? Let's find out.
