Griffon Corp
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Industrials : Building Products | Small Cap BlendCompany profile

Griffon Corporation is a management and holding company that conducts business through its subsidiaries. The Company operates through two segments: Home & Building Products (HBP) and Telephonics Corporation (Telephonics). The HBP segment consists of three companies: The AMES Companies, Inc. (AMES), Clopay Building Products Company, Inc. (CBP) and ClosetMaid LLC (ClosetMaid). AMES is a provider of non-powered landscaping products for homeowners and professionals. CBP is a manufacturer and marketer of residential, commercial and industrial garage doors to professional dealers and home center retail chains. ClosetMaid is a manufacturer and marketer of closet organization, home storage and garage storage products, and sells to home center retail chains, mass merchandisers and builder professional installers. The Telephonics segment designs, develops and manufactures integrated information, communication and sensor system solutions for military and commercial markets across the world.

Closing Price
$17.85
Day's Change
0.13 (0.73%)
Bid
--
Ask
--
B/A Size
--
Day's High
18.02
Day's Low
17.77
Volume
(Light)
Volume:
151,755

10-day average volume:
193,822
151,755

UPDATE: AMD stock rebounds from earnings disappointment with new server chip

3:10 pm ET August 8, 2019 (MarketWatch)
Print

By Emily Bary

AMD's announcements 'could also weigh on Intel's stock,' analyst says

Advanced Micro Devices Inc. shares are soaring in Thursday's session amid optimism for the company's announcements about its second-generation Epyc 2 server chip, which is also called Rome.

The company said Wednesday that Rome would offer nearly double the performance of Intel Corp.'s (INTC) Xeon processor at about half the cost.

"Now we always take first-party benchmarks with a grain of salt (they are easy to game), but we have to say AMD (AMD) went all-out to tell a good story yesterday; we admit they sounded very good," wrote Bernstein's Stacy Rasgon, who rates the stock at market perform with a $25 target. "Especially given Intel's disclosure of further 10-nanomater server delays, the announcements yesterday will likely keep AMD in full control of the datacenter narrative for now."

Opinion: AMD has built Rome, but it will take much more than a day to know if it's a winner (http://www.marketwatch.com/story/amd-has-built-rome-but-it-will-take-much-more-than-a-day-to-know-if-its-a-winner-2019-08-07)

Rasgon said that while he thinks "investors purchasing AMD here are already implicitly underwriting scenarios that credit the company with significant success well beyond what has already been promised, with aggressive near-term expectations as well," shares may head higher if the datacenter narrative persists, which could also weigh on Intel's stock.

AMD's stock is up 15%, while Intel's is up 1.1%.

Opinion: Why AMD believes it can challenge Intel in servers (http://www.marketwatch.com/story/why-amd-believes-it-can-challenge-intel-in-servers-2018-09-28)

Wells Fargo's Aaron Rakers said that the Rome launch "should provide investors with increased confidence in the company's positioning to garner a 20%+ share in the server CPU market." He rates the stock at outperform with a $40 target price.

Cowen & Co. analyst Matthew Ramsay said that while AMD still has "much work [to do] to secure/hold meaningful share," he was impressed by the technical specifications and partner announcements revealed on Wednesday.

"Overall, we anticipate Rome will begin a series of strong quarters of share gains starting in 3Q19 with strong 2H ramps at Amazon, Microsoft, and Google to be catalyzed by the newly introduced suite of 7-nanometer Rome products," he wrote. "As such we anticipate AMD should push toward 10% server share in early 2020 and exit 2020 with roughly 15% share."

Opinion: All hopes for AMD now rest on the holiday season (http://www.marketwatch.com/story/all-hopes-for-amd-now-rest-on-the-holiday-season-2019-07-30)

The stock has risen 82% so far this year, while the S&P 500 has climbed 16%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 08, 2019 15:10 ET (19:10 GMT)

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