Bought 1 block of NEM at 54.21
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Ruthless trader
- Thread starter Jack Haddad MD
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Bought 1 block of MRVL at 36.53
Bought 1 block at 22.53, and wrote 100 August 22.50 at 1.10/contract.
Caris & Co. analyst Rick Whittington kicks off the morning gloom for AMD with a downgrade of the stock from Above Average to Average, noting that a survey of 15 tests for Intelâs âConroeâ desktop chip showed the Intel part besting AMDâs almost 100% of the time. Concludes Whittington:
"From all reports, AMDâs response to Intel Conroe will be focused on pricing. AMD will attempt to win the performance/$ battle against Intel. To us, AMDâs âresponseâ strategy all but admits to Intelâs superior technical position with NGA. This doesnât bode well for AMDâs margins as Intel appears to be on their way back to dominance."
Others on the street are chiming in on the brightened outlook for Intel. Stifel Nicolausâs Cody Acree says reports from Asian news sources are that Intel will unveil its âMeromâ notebook processor ahead of schedule. Says Acree:
We believe an early launch of Merom would be another step in INTCâs turnaround story, which in our opinion is creating a substantial opportunity for investors. We believe the strengths of INTCâs new portfolio are not yet reflected in its lagging share price, a situation which we believe will be rectified in the coming months.
And, joining the pile-on, Banc of Americaâs Sumit Dhanda says that Appleâs new Intel-based Macs could be a factor to Intel shining brighter in the second half of the year:
[D]espite widespread market skepticism, we believe our 3Q sales forecast of 8% q/q (vs St +9%) [for Intel] is likely to prove achievable given 1) the improving inventory situation within Asia distribution, 2) the easier comps heading into 2H06 (vs. a depressed base in Q1), 3) our expectation for further share gains versus AMD ⦠and 4) an additional boost to sales growth from the ramp of Intel based Apple computing platforms. As it relates to gross margins, we expect Intel to maintain its âimpliedâ Q3 outlook of roughly 52%, +/- a few points (GAAP basis), given the more benign nature of the price cuts, as well as the improved mix and factory loadings in Q3. Finally ⦠there exists the potential for slight operating margin upside through Q3, and subsequent quarters.
"From all reports, AMDâs response to Intel Conroe will be focused on pricing. AMD will attempt to win the performance/$ battle against Intel. To us, AMDâs âresponseâ strategy all but admits to Intelâs superior technical position with NGA. This doesnât bode well for AMDâs margins as Intel appears to be on their way back to dominance."
Others on the street are chiming in on the brightened outlook for Intel. Stifel Nicolausâs Cody Acree says reports from Asian news sources are that Intel will unveil its âMeromâ notebook processor ahead of schedule. Says Acree:
We believe an early launch of Merom would be another step in INTCâs turnaround story, which in our opinion is creating a substantial opportunity for investors. We believe the strengths of INTCâs new portfolio are not yet reflected in its lagging share price, a situation which we believe will be rectified in the coming months.
And, joining the pile-on, Banc of Americaâs Sumit Dhanda says that Appleâs new Intel-based Macs could be a factor to Intel shining brighter in the second half of the year:
[D]espite widespread market skepticism, we believe our 3Q sales forecast of 8% q/q (vs St +9%) [for Intel] is likely to prove achievable given 1) the improving inventory situation within Asia distribution, 2) the easier comps heading into 2H06 (vs. a depressed base in Q1), 3) our expectation for further share gains versus AMD ⦠and 4) an additional boost to sales growth from the ramp of Intel based Apple computing platforms. As it relates to gross margins, we expect Intel to maintain its âimpliedâ Q3 outlook of roughly 52%, +/- a few points (GAAP basis), given the more benign nature of the price cuts, as well as the improved mix and factory loadings in Q3. Finally ⦠there exists the potential for slight operating margin upside through Q3, and subsequent quarters.
Bought 2 blocks of YHOO at 26.07
Sold 1 block of AAPL at 60.83
Sold 5 blocks of AAPL at 60.37, and bought back the July 55 calls at 5.40
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