Anything can happen. Technically you have to go down (The main chart)
It ends meet, another factor .. Worst of all,sales and profits fall continuously
Ratings Breakdown: 6 Sell Rating(s), 14 Hold Rating(s), 7 Buy Rating(s)
Consensus Rating: Hold (Score: 2.04)
Consensus Price Target: $3.02 (18.93% downside)
May be tomorrow again drop. Many transactions in short sell
4/23/2016 Morgan Stanley Reiterated Rating Sell
4/25/2016 Wedbush Reiterated Rating Hold $2.00 - $3.50
4/23/2016 Oppenheimer Reiterated Rating Sell
4/22/2016 Macquarie Lower Price Target Neutral $3.30 - $2.00
12:54 pm ET April 27, 2016 (Benzinga)
Along with reporting its earnings, Advanced Micro Devices, Inc. (NASDAQ: AMD) has announced that it had entered into a joint venture with a university investment group based in China, called THATIC.
Morgan Stanley’s Joseph Moore maintains an Underweight rating on the company, with a price target of $2.65.
The Joint Venture
As part of the joint venture agreement, AMD is to deliver core technology to build server microprocessors, which THATIC will use to build chips for the server market. These chips are meant exclusively for the China market and could potentially compete with Advanced Micro Devices.
THATIC has agreed to pay Advanced Micro Devices a total of $293 million over the life of the agreement, based on the latter company meeting specific milestones. Advanced Micro Devices will also have partial ownership of the joint venture and will receive royalties on the finished product’s sales, although details of both figures were not disclosed.
Related Link: AMD And Verizon Attract Analysts Following Q1 Earnings
Thoughts On The Deal
Moore believes that the deal is being overvalued by the market, and pointed out, “AMD prospects for servers, China, and IP licensing are not new, and limited disclosure makes JV valuation assessment difficult. Bottom line, we continue to see AMD as structurally subscale.”
Moore also questioned whether selling a license was the best way to deal with the China server opportunity, especially given that both opportunities in China and in server would be key to the company implementing a turnaround in revenues.
Although the joint venture could have a revenue impact, “IP sales have always been an avenue to improving the strains on the balance sheet, and while the size of the potential cash infusion here is nice, AMD hasn't given us the tools to figure out what the long term profit opportunity might be,” the analyst noted.
Without those optimistic, the target price does not exceed $ 2.00
Always sells less, AMD lost profits and not pay dividends.
So, it is not Intel
Advanced Micro Devices's sell rating reiterated at Morgan Stanley 04/23/16
Advanced Micro Devices's sell rating reiterated at Oppenheimer. 04/23/16
Previous closing price $4.80. 04/14/2016
In 48 hs, Seven days, hopefully PSUNQ, Price $0.00...
No shares for short selling in TDA. In 99% of cases, before emerging from bankruptcy, common shareholders are eliminated.
Is everything lost for the fall as ZQK
First, no disrespect. If you do not understand, it's not my fault. It is on its way to OTC. Buy, the honey is rich, Clown!
In 48 hs PSUNQ, Price $0.00...
No shares for short selling.
Is everything lost for the fall as ZQK
On Thursday, Pacific Sunwear's CEO said in an open letter to customers that it intends to keep its doors open throughout the bankruptcy process and operate as usual.
"Most importantly I want to emphasize that our customers should not be affected by this restructuring process," said Mr. Schoenfeld in the letter. "Our Golden State of Mind spirit will continue to be at the core of how we work."
The deal never transpired, however, and Jos A. Bank instead agreed to merge with Men's Wearhouse Inc.
Golden Gate also reaped a healthy return on women's retailer J. Jill, which it acquired in 2009 for about $75 million. Later, Golden Gate sold a roughly 70% stake in J. Jill to Bahrain investment firm Arcapita Bank. In 2015, Arcapita and Golden Gate exited their stakes in J. Jill, selling it to private-equity firm TowerBrook Capital Partners for about $400 million. Golden Gate made a roughly five-times return on the J. Jill investment, according to a person familiar with the situation.
Under the Pacific Sunwear deal, Golden Gate will convert a chunk of the debt into equity, and invest at least $20 million into the company after it emerges from bankruptcy. Prebankruptcy lender Wells Fargo also agreed to lend a $100 million revolver after Pacific Sunwear's emergence.
Pacific Sunwear does acknowledge "several critical mistakes" made by management over the years, including the decision to no longer sell sneakers in 2008; investing in concepts, like D.e.m.o., a late 1990s concept targeted to urban audiences, and branded footwear and accessories retailer One Thousand Steps, that were eventually were discontinued; changing merchandising strategy; and selling too much inventory at a discount.
Pacific Sunwear eventually switched management and hired Gary Schoenfeld as chief executive in 2009 -- shortly after the company's performance improved as it closed 200 stores and introduced new fashion campaigns such as the widely marketed "Kendall and Kylie Collection," from the half-sisters of the Kardashians.
During this period Pacific Sunwear also secured a $60 million term loan from Golden Gate, and $100 million loan from Wells Fargo N.A.
Later in 2015, Pacific Sunwear also implemented an annual cost reduction program, which it hoped would yield about $15 million in annual savings, according to a public filing.
On Thursday, Pacific Sunwear's CEO said ....
5:23 pm ET April 7, 2016 (Dow Jones)
By Lillian Rizzo
Pacific Sunwear of California Inc. filed for bankruptcy on Thursday with a plan that hands control over to lender Golden Gate Capital with the hope that the private-equity firm has the remedy to turn around the troubled teen fashion retailer.
The company, an Anaheim, Calif., apparel seller, says its fashions aren't the cause of its financial problems but rather its stores' costly leases at the nation's malls, where traffic has dried up in recent years. The drop in mall traffic coupled with the high rents meant the retailer wasn't able to get a handle on $160 million in debt that was slated to mature later this year.
"The problem is the rent structure," said Jeff Van Sinderen, a retail analyst at B. Riley & Co. "Other retailers have struggled with the same issue -- mall traffic is running negative. Some retailers have the brand equity but have to ask, 'does it make sense to forward with this number of stores?'"
In the last two years, a parade of teen retailers -- plagued by the slowing mall traffic, an increase in online shopping and teens spending more on electronics and athletic wear -- have filed for bankruptcy. Among those that have passed through bankruptcy court are American Apparel Inc., Quiksilver Inc., Cache Inc., The Wet Seal Inc., Deb Stores and dELiA*s Inc.
Unlike many retail outlets that find themselves in bankruptcy, Pacific Sunwear filed for chapter 11 protection with a restructuring support agreement already in place. The deal calls for a debt-for-equity swap with Golden Gate.
The San Francisco private-equity firm has a history of turning around apparel sellers.
Golden Gate acquired the retailer Eddie Bauer Holdings Inc. for $286 million in a bankruptcy-run process in 2009. By 2014 it was ready to sell Eddie Bauer to Jos A. Bank Clothiers for $875 million.
Pacific Sunwear of California, Inc. (NASDAQ:PSUN) major shareholder Adage Capital Partners Gp, L.L sold 4,822,127 shares of Pacific Sunwear of California stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $0.10, for a total value of $482,212.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Ratings Breakdown: 1 Hold Rating(s), 6 Buy Rating(s)
Consensus Rating: Buy (Score: 2.86)
Consensus Price Target: $25.33 (45.59% upside)