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Media Digest (4/17/2013) Reuters, WSJ, FT, Bloomberg

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By 24/7 Wall St.

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The role of central banks in stimulus will be considered at International Monetary Fund (IMF) and G-20 gatherings. (Reuters)

Display ad revenue at Yahoo! (NASDAQ: YHOO) drops sharply. (Reuters)

News Corp. (NASDAQ: NWSA) will call its entertainment company 21st Century Fox. (Reuters)

Carl Icahn agrees to limit his stake in Dell Inc. (NASDAQ: DELL) but can join other bidders to make an offer for the company. (Reuters)

Procter & Gamble Co. (NYSE: PG) will lengthen the number of days after which it pays suppliers, which will allow it access to $2 billion in cash. (WSJ)

A new IMF report attacks the results of austerity taken on by financially troubled nations. (WSJ)

A reservations system glitch limits American Airlines bookings and causes a number of flights to be halted. (WSJ)

Boeing Co. (NYSE: BA) completes tests of batteries on its Dreamliner 787, but the FAA has not approved them. (WSJ)

Intel Corp.’s (NASDAQ: INTC) profits drop by 25% as PC sales tumble. (WSJ)

Investment manager John Paulson loses $1.5 billion in his bet on gold prices. (FT)

The drop in gold prices hits central bank asset values by $560 billion. (Bloomberg)

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: BA, DELL, INTC, NWSA, PG, YHOO

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From: http://www.dailyfinance.com/2013/04/17/media-digest-4172013-reuters-wsj-ft-bloomberg/

Business, Finance, Occupation & Industry

What's Happened to PCs?

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By Steve Heller, The Motley Fool

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It was the year 2007. The Apple iPhone had just hit the scene, and most consumers didn’t even know what a smartphone was, let alone what it would do for the world. With its introduction, the iPhone brought the mobile computing revolution to the forefront, forever changing the world in the process. Fast-forward less than six years later, and a record 918 million smartphones are expected to ship this year across the planet. For those keeping track at home, that’s almost three smartphones for every one PC shipment!

Companies that failed to see the sudden shift have seen their attractiveness wane with investors. As these companies attempt to claw their way back into the realm of investor relevancy, those who fully understand what transpired stand to gain valuable perspective.

The PC isn’t actually dead

Source: IDC, Gartner. Units are millions.

Last year marked the first year since 2002 that PC shipments witnessed a worldwide decline. For something that’s been declared dead by many industry pundits, you would expect that PC sales had fallen off a cliff by now. Although a 3.5% year-over-year decline in sales could be considered alarming, given the fact that Microsoft failed to revitalize the PC industry with the release of Windows 8, I think it’s a little early to call the PC officially dead. For now, the evidence suggests that the PC has experienced a bit of maturation in an era where users have rapidly shifted their preferences to a combination of smartphones and tablets. However, I do not believe investors should conclude that since smartphones and tablets have seen rapid adoption, it means that PCs will no longer be adopted.

What this really means: chips have changed

INTC data by YCharts

This wasn’t necessarily too relevant for the end user, but for the chip investor, it meant the difference between strong share appreciation and stagnation over the last five years. Mobile-focused companies like Qualcomm and ARM Holdings have largely taken the wind out of Intel‘s PC-entrenched sails. In the coming years, Intel hopes it can reclaim what it missed during the rise of mobile computing with the introduction of compelling mobile chips.

Investors shouldn’t take this to mean that if Intel sells mobile chips, it will automatically lead to better days ahead. This could be the case, but it’s largely dependent on a number of factors, including how successful Intel is within mobile, and what kind of prices it can sell these chips for. At this time, Intel doesn’t command the pricing power in mobile like it did during the PC heydays. This will likely mean that Intel will have to compete on price, which could potentially threaten its gross profit margin.

The year that changed everything
It wasn’t until last year that the assault on the PC showed up in the numbers. It took nearly 830 million devices to noticeably chip away at the PC‘s throne. I don’t know about you, but that’s …read more
Source: FULL ARTICLE at DailyFinance

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Media Digest (3/19/2013) Reuters, WSJ, NYT, FT, Bloomberg

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By 24/7 Wall St.

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BlackRock Inc. (NYSE: BLK) will lay off 300 people. (Reuters)

Electronics Arts Inc. (NASDAQ: EA) chief executive departs as the firm missed earnings. (Reuters)

Intel Corp. (NASDAQ: INTC) ramps up hiring for its new TV entertainment unit. (Reuters)

Airbus gets an order from Indonesian airline Lion Air worth $24 billion. (Reuters)

The Employee Benefit Research Institute reports that 57% of Americans have less than $25,000 in savings when the value of their homes are backed out. (WSJ)

Corelogic reports that “underwater” homes dropped by 1.7 million in the fourth quarter, compared to the same quarter a year ago. (WSJ)

Lululemon Athletica Inc. (NASDAQ: LULU) takes some pants out of stores because they are too sheer. (WSJ)

Citigroup Inc. (NYSE: C) pays $730 million to settle claims over paper its sold that mislead investors over a two-year period. (WSJ)

Liberty Media Corp. (NASDAQ: LMCA) may by 25% of Charter Communications Inc. (NASDAQ: CHTR). (WSJ)

HTC delays release of one of its major new phone products. (WSJ)

IDC says global PC shipments will slow again this year. (WSJ)

Facebook Inc. (NASDAQ: FB) blocks developers who do not make software that enhances the social network’s goals. (WSJ)

Chesapeake Energy Corp. (NYSE: CHK) sells debt to buy paper with higher coupons. (WSJ)

The Washington Post division of Washington Post Co. (NYSE: WPO) will charge for online content. (WSJ)

Investment firms and farmers begin to compete for land as crop prices rise. (NYT)

ABC may launch an app for people to watch TV on portable devices. (NYT)

The size of cash hoards held by U.S. companies reach record levels, according to Moody’s Investor Service. (FT)

Samsung says it will release its own smart watch to compete with Apple Inc.’s (NASDAQ: AAPL). (Bloomberg)

European February car sales fall 10%, according to the European Automobile Manufacturers’ Association. (Bloomberg)

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: AAPL, BLK, C, CHK, CHTR, EA, FB, INTC, LMCA, LULU, WPO

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Source: FULL ARTICLE at DailyFinance

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Deutsche Bank Says Buy the Enduring Eight Tech Stocks (CSCO, EMC, HPQ, IBM, INTC, MSFT, NTAP, ORCL)

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By 24/7 Wall St.

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During the bull market for technology stocks in the 1990s, investors eagerly awaited the quarterly results from the large-cap technology leaders. The personal computer was being totally integrated into the home and business environment and pricing was more competitive with each passing year. In a new research report, Deutsche Bank A.G. (NYSE: DB) says its time for investors to own the “Enduring Eight” big-cap technology leaders again.

With business fundamentals expected to improve in 2013, corporate spending is expected to follow suit. The analysts at Deutsche Bank expect an upturn in tech business spending in 2013, after a flattish 2012, as growth picks up and confidence improves. Companies have been frugal in their information and technology budgets, and their IT infrastructure has aged. Gartner forecasts around 5% annual growth in information technology (IT) spending from 2013 to 2016, led by storage and software.

One key reason cited for purchasing the large-cap tech leaders is that, in the Deutsche Bank view, large multinational companies treat the global tech giants as key operational partners and not mere vendors. The long-term and global relationships these tech leaders have with customers are part of their ability to endure the challenges of a dynamic and competitive industry – a key difference from consumer tech products. In addition, these companies are already key players in big data, cloud and mobility, the main drivers of business IT spending

These are the Deutsche Bank enduring eight tech stocks to buy:

Networking leader Cisco Systems Inc. (NASDAQ: CSCO) currently is trading near the $20 level. The Wall St. consensus estimate target for Cisco is $26.

Storage giant EMC Corp. (NYSE: EMC) makes the list. It is trading at what appears to be a support level of $23. The Thomson/First call price target is $30.

Hewlett-Packard Co. (NYSE: HPQ) is the only personal computer company to make the grade. It closed last Friday at $20.15, and the consensus target is lower at $17.50.

International Business Machines Corp. (NYSE: IBM), the leader in IT products and services worldwide, has a consensus price target of $230. The stock closed Friday at $202.91.

Semiconductor giant Intel Corp. (NASDAQ: INTC) is the only chip company to make the Deutsche Bank list. The stock closed Friday at $21.03 and has a consensus price target of $23.00.

Windows software maker Microsoft Corp. (NASDAQ: MSFT) also makes the Deutsche Bank list. The stock closed Friday at $27.95 and has a consensus target of $33.

Network storage solution leader NetApp Inc. (NASDAQ: NTAP) is trading near $33.95, which is way below the 52-week high of $46.80. The consensus price target is $40.

Application software giant Oracle Corp. (NASDAQ: ORCL) rounds out the enduring eight list. Trading close to its 52-week high at $34.63, it has a consensus price target of $38.

The analysts at Deutsche Bank point out that while growth disappointed in 2012, it should be better in 2013. Over the cycle, tech’s enduring eight have generated healthy growth, which has yet to be fully appreciated by investors. From 2006 to 2012, average …read more
Source: FULL ARTICLE at DailyFinance

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Chip and Infratructure Winners Steal Thunder at 2013 Mobile World Congress (SNE, INTC, BRCM, AMD, MRVL, FBRC)

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By 24/7 Wall St.

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Typically the Mobile World Congress exposition focuses on the smartphone and handset part of the industry, and at this years recently completed show in Barcelona that was once again the case. While there were not a tremendous number of new device launches, new smartphones from LG, HTC and Sony Corp. (NYSE: SNE) made a splash. But in a note today from FBR & Co. (NASDAQ: FBRC), it was less about handsets, and more about infrastructure.

The research team at FBR Capital Markets notes that, surprisingly, the most meaningful announcements at Mobile World Congress 2013 were not handset-driven but rather emphasized the changes in data centers, delivery and infrastructure needed to enable next-generation handset service. The most significant takeaways from the meeting reinforce the idea that they are on the brink of a large-scale shift in data center architecture, and while not yet fully defined, this holds significant implications for chip companies.

The mobile ecosystem is expanding at lightning speed, with endless innovation and new applications of mobile technology. From contactless payments and augmented reality to embedded devices and connected cities, mobile technology is changing the landscape. The impact mobile will have on the world is limitless. The explosive growth of at-your-fingertips data has driven the need for data centers to change some of their basic infrastructure. According to the FBR team, this can have big implications for semiconductor companies.

Their report lists four semiconductor companies that may benefit from the change in data center architecture as companies strive to have the processing power to accommodate huge advances in technology.

Intel Corp. (NASDAQ: INTC), the leader in personal computing and laptop processors, is working to add new products that target the smartphone and tablet industry. The Thomson/First Call consensus price target for Intel is $23.

Troubled industry laggard Advanced Micro Devices Inc. (NYSE: AMD) has promising new low-power, low-cost semiconductors that may prove competitive. The stock has taken a beating over the years and trades at just $2.41 today. The Wall St. consensus estimate is $3.

Broadcom Corp. (NASDAQ: BRCM), which specializes in semiconductor solutions for wired and wireless communications, may have the most potential upside. The company operates in three segments: Broadband Communications, Mobile and Wireless, and Infrastructure and Networking. Its ability to offer solution for multiple segments of the industry may help sustain its heady growth prospects. The consensus price target is $40.

Marvell Technology Group Ltd. (NASDAQ: MRVL) is a big favorite of hedge fund manager David Einhorn, who has almost 6% of his total portfolio in the name. The company also may benefit from data center growth. The consensus price target is $15, which would represent almost a 50% move from today’s price of $10.12.

The inevitable growth of the wireless industry means that semiconductor companies will have to keep up their research and development expenditures to compete in a challenging and changing environment. The companies with the deepest pockets for R&D may prove to be the biggest winners.

Filed under: 24/7 Wall St. Wire, Analyst Calls, Technology, Technology Companies, …read more
Source: FULL ARTICLE at DailyFinance

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Can Intel Foundry Growth Offset PC Weakness and Evolution to Mobility?

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By 24/7 Wall St.

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A news announcement earlier this week has gone largely unnoticed, even though it might be a game-changer for Intel Corp. (NASDAQ: INTC) now that the computing world for processors is changing so much toward smartphones, tablets and other devices. Altera Corp. (NASDAQ: ALTR) confirmed that future manufacturing of Altera FPGAs would be on Intel’s 14 nanometer tri-gate transistor technology.

Intel’s foundry business does not disclose all of its partners and clients, but the clients that have been named to date have been very small. They are Achronixm Netronome and Tabula. Adding Altera to the list is a big win, and it can ultimately help Intel lead to other larger companies as well.

It is not as important that their next-generation products will target ultra-high-performance systems for military, wireline communications, cloud networking and computing and storage applications. What matters here is that chip and programmable logic companies may be able to get the best of both worlds by utilizing Intel’s manufacturing prowess while saving on their capital and manufacturing expenses.

What can come from this is a faster move to silicon convergence, integration efforts and economically flexible alternatives. Intel’s greatest advantage over other traditional processor makers has been that it has been its own manufacturer for the most part. If outside companies are going to take advantage of this, it represents a new business model and means that Intel will not have to lighten up on its deep technology workforce ahead.

The move may not get Intel any farther along in the race to win processor orders for smartphones and tablets, where it is still trying to gain a foothold. That being said, it may make up at least a part of what has been an eroding business loss from the PC side of the business.

The processor business totally dominates Advanced Micro Devices Inc. (NYSE: AMD). AMD has even moved to a fab-lite model. The mobility side of the competitive equation is the ongoing challenge from Qualcomm Inc. (NASDAQ: QCOM) and from ARM Holdings PLC (NASDAQ: ARMH). Both of those companies are beating Intel, and other entrants want a piece of that space too.

Intel’s shares remain stuck around the $20 mark. After a 2.6% gain to $27.76 today, its 52-week range is $19.23 to $29.27. The long and short of the matter is that Intel remains very pressured, and new markets may be the only way that Intel can find real growth. Sales in PCs remain under pressure by almost all reports, and analysts only expect sales growth of almost 2% in 2013 and almost 5% in 2014. For Intel’s sales growth to resume, it will require more processor sales on the mobility side of the operations or on the foundry side of the equation. Intel is at least proving that the latter case is possible.

Filed under: 24/7 Wall St. Wire, Semiconductor, Semiconductors, Technology, Technology Companies Tagged: ALTR, AMD, ARMH, INTC, QCOM

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Source: FULL ARTICLE at DailyFinance

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Intel Goes After Set-top Box Market

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By 24/7 Wall St.

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One of the worst-kept secrets in the technology world was finally confirmed today. Intel Corp. (NASDAQ: INTC) is building an Internet TV set-top box that it says will launch by the end of this year. Intel has big plans for its Internet TV — but then which company doesn’t.

Apple Inc. (NASDAQ: AAPL) and Google Inc. (NASDAQ: GOOG) both have Internet TV boxes out there already, as do smaller makers like Roku, Boxee, as well as Sony Corp. (NYSE: SNE) and Vizio, both of which use Google’s technology. Hardware and software are not the problem.

The problem is content. Intel and all the others face reluctant entertainment and pay TV industries that either do not want to license new streaming content except at very high fees (studios) or do not want to offer a la carte programming to subscribers (pay TV). The vice-president of Intel’s new Intel Media group told conference audience today, ” We’re working with the entire industry to figure out how we get live TV to consumers over the Internet.”

The TV and movie studios do not want to give away the farm the way the music business did to Apple iTunes. Whether or not Intel and its deep pockets can make a substantial difference here remains to be seen. Rather than keep their movies and programming locked in a vault, the production companies should be trying to forge partnerships with the techie crowd and make their content available at reasonable prices to consumers.

And the pay TV cable and satellite providers are not going to hide behind their bundling practices forever either. But Intel is going to have to break through to these guys as well

If any of this were easy, someone would already be doing it. And one has to wonder about Intel’s vice-president who wants to get “live TV to consumers over the Internet.” The reason to make programming available on the Internet is not so people get to choose their transmission scheme. Who cares?

People want to watch their favorite shows and movies when it’s convenient for them, not the pay TV channels or the broadcast networks. About the only things people want to watch live are sports and award shows. The next episode of “Downton Abbey” or “CSI” can be watched anytime.

Intel probably has no better chance at getting all the various players to agree on an Internet TV scheme than does Apple or Google or anyone else. Still, it’s nice to think they might be able to do it.

Filed under: 24/7 Wall St. Wire, Entertainment, Internet, Technology Companies, TV Tagged: AAPL, GOOG, INTC, SNE

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Source: FULL ARTICLE at DailyFinance

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After Drop in 2012 Semiconductor Sales, 2013 Looks Much Brighter (ARMH, INTC, AAPL, MU, SNDK, AMAT)

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By 24/7 Wall St.

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94073253Despite an explosion in smartphone and tablet sales in 2012, overall semiconductor sales were down for the year. The three-month average for global chip sales was $24.74 billion in December, down 3% from a revised November figure of $25.51 billion, according to the Semiconductor Industry Association. Is this a trend that will continue into 2013 or is there reason to be more positive on the industry?

Global chip sales for 2012 reached $291.6 billion, a decrease of 2.7% from $299.5 billion in 2011. Total sales for the year were slightly above the $290 billion predicted by the World Semiconductor Trade Statistics (WSTS) organization in November. WSTS forecasts the global chip market will grow by 4.5% in 2013.

ARM Holdings PLC (NASDAQ: ARMH) reported earnings that rose 19.2% year-over-year to GBP164.2 million, versus the GBP151.4 million consensus. ARM enters 2013 with a robust opportunity pipeline for licensing and a record order backlog. Market share gains in long-term growth sectors look set to continue as their partners introduce new chips based on ARM technology. While analysts have recently downgraded the stock on valuation, any significant dip in the stock price may offer investors an excellent entry point.

Intel Corp. (NASDAQ: INTC) reported adjusted earnings $0.51 per share ($0.48 per share net) and $13.5 billion in sales. Thomson Reuters had estimates of $0.45 per share and $13.53 billion in sales. For the coming quarter, Intel sees revenues of $12.7 billion, with its usual plus-or-minus $500 range on it. Thomson Reuters has the coming quarterly earnings report showing a consensus of about $12.9 billion in revenue. The company is trying to end its dependence on the personal computer market to focus on the smartphone and tablet arena. With a very nice 4.25% dividend, investors can be patient with the chip giant.

In a very competitive environment, memory chip maker Micron Technology Inc. (NASDAQ: MU) may have the ability to surprise when they report in March. Long a victim of stubbornly low and competitive pricing in the industry, memory chip prices have jumped recently and may continue higher. With a forward price-to-earnings (P/E) ratio of 15.30, analysts are expecting earnings per share to be up 193% next year, and the stock is trading for slightly over book value and under one times sales. Plus insider ownership has increased by 45% over the past six months.

Another name with a potential for a bright 2013 is SanDisk Corp. (NASDAQ: SNDK), which designs, develops and manufactures NAND flash memory storage solutions that are used in various consumer electronics products. SanDisk chips are found in the Apple Inc. (NASDAQ: AAPL) iPhone 5. Smartphone makers pay up for flash, at least compared with other types of semiconductors. At $21, the SanDisk chip is the second-most-expensive component in a 32 gigabit (GB) iPhone 5, according to research firm IHS iSuppli. Only the touchscreen display costs more. SanDisk is the biggest pure-play maker of flash memory. Two weeks ago, Rajvindra Gill, an analyst for Needham, upgraded the stock to Buy from Hold. He has a price target of $60 but sees the possibility of a $65-to-$70 stock. He points out that gross margins were 40% in the fourth quarter, compared with an expected 33%, and says, “We expect margins to improve throughout the year. And when you flow that through the model, you get a tremendous amount of earnings.” In a bullish scenario, per-share earnings could reach $5 next year, Gill says, nearly a dollar above the current consensus.

One other area to always look at when gauging the growth and health of the semiconductor industry is the actual manufacturing of the chips. Applied Materials Inc. (NASDAQ: AMAT) provides manufacturing equipment, services and software to the semiconductor, flat panel display, solar photovoltaic and related industries worldwide. Like Intel, Applied Materials is an industry leader, and also pays a solid 2.76% dividend. While analysts are only expecting $0.03 in earnings for the quarter that ended in January, revenues are expected to jump from $7.58 billion this year to $9.13 billion next year, a 20% increase. Applied Materials actually may prove to be a very solid value play.

With 2012 behind the industry and growth for 2013 expected to be close to 5%, it just makes sense for investors to look at quality names in the semiconductor sector that can benefit from improving economies and a healthier consumer climate.

Filed under: 24/7 Wall St. Wire, Analyst Calls, Semiconductor, Technology, Technology Companies Tagged: AAPL, AMAT, ARMH, INTC, MU, SNDK

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Source: FULL ARTICLE at DailyFinance

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Ex-Div Reminder for Intel Corp

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By DividendChannel.com Looking at the universe of stocks we cover at Dividend Channel, on 2/5/13, Intel Corp (NASD: INTC) will trade ex-dividend, for its quarterly dividend of $0.225, payable on 3/1/13. As a percentage of INTC‘s recent stock price of $21.19, this dividend works out to approximately 1.06%, so look for shares of Intel Corp to trade 1.06% lower ? all else being equal ? when INTC shares open for trading on 2/5/13.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen » or click here to find out which 9 other stocks going ex-dividend you should know about, at DividendChannel.com »
Source: FULL ARTICLE at Forbes Markets

News, Politics, Government

Will This Be February's Hot Sector?

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By Tom Aspray, Contributor As the market continues to trade sideways during earnings season, MoneyShow’s Tom Aspray takes a look at a sector about to enter a seasonally strong period and an attractive stock in that sector.

Another mixed session for stocks on Wednesday as the Dow was hit hard by the 3.3% drop in Boeing Co. (BA). The earnings so far this week have been a plus for the market but it will get another test today. Citigroup (C) and Bank of America (BAC) report before the bell and Intel Corp. (INTC) reports after the close.

It may take much better than expected earnings from Intel Corp. (INTC) to change the negative sentiment on the tech sector. The declines in the broad market, like the S&P 500, have been well supported. A strong close above the recent highs will confirm that the correction is over and punish the market skeptics.

Energy was one of the worst performing sectors in 2012 as the Select Sector SPDR Energy (XLE) was up just 7.4% in 2012. This lagged well below the 17.1% gain in the Spyder Trust (SPY). So far in 2013, XLE has done a bit better than SPY but the relative performance analysis has not yet confirmed that it is a market leading sector.

The daily technical picture for the March crude oil contract oil turned positive in the middle of December. It is up 10% from the early December lows, while XLE is up 6.7% from the December 31 low. A look at the seasonal tendencies for crude prices suggests that the energy sector may soon catch up with crude oil prices.
Source: FULL ARTICLE at Forbes Latest

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Noteworthy ETF Inflows: VTV, WFC, JPM, INTC

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By ETFChannel.com Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Value ETF (AMEX: VTV) where we have detected an approximate $213.3 million dollar inflow — that’s a 2.9% increase week over week in outstanding units (from 119,534,485 to 123,037,764). Among the largest underlying components of VTV, in trading today Wells Fargo & Co. (NYSE: WFC) is off about 1.5%, JPMorgan Chase & Co. (NYSE: JPM) is down about 1.2%, and Intel Corp (NASD: INTC) is relatively unchanged. For a complete list of holdings, visit the VTV Holdings page »
Source: FULL ARTICLE at Forbes Markets

Business, Finance, Occupation & Industry

VGT, INTC, MA, ADP: ETF Inflow Alert

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By ETFChannel.comLooking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Information Technology ETF (AMEX: VGT) where we have detected an approximate $41.4 million dollar inflow — that’s a 1.7% increase week over week in outstanding units (from 35,940,843 to 36,540,843). Among the largest underlying components of VGT, in trading today Intel Corp (NASD: INTC) is up about 1.1%, MasterCard Inc (NYSE: MA) is off about 0.1%, and Automatic Data Processing Inc. (NASD: ADP) is lower by about 0.2%. For a complete list of holdings, visit the VGT Holdings page »
Source: Forbes Markets