Morning Buzz: Twitter (TWTR), Microsoft (MSFT), Cirrus Logic (CRUS), PetSmart (PETM), American Realty Capital Properties (ARCP)

Shares of Twitter, Inc. (TWTR) are up 3% at $38.10 in pre-market trading Monday, after JMP Securities initiated coverage of the stock with a ‘Market Outperform’ rating and a $49 price target, citing extreme brand awareness and the idea that the microblogging platform is THE go-to place for news and information among its 284 million active users.

Twitter, Inc. shares currently have a PEG and forward P/E ratio of 4.52 and 109.12, respectively. Price/sales for the same period is 19.67, while EPS is ($1.79). Currently there are 15 analysts that rate TWTR a ‘Buy’, 19 rate it a ‘Hold’. 1 analyst rates it a ‘Sell’. TWTR has a median price target of $53.00 with a high target of $64.00.

In the past 52 weeks, shares of San Francisco, Calif.-based company have traded between a low of $29.51 and a high of $74.73. Shares are down 32.95% year-over-year and 41.71% year-to-date.

Shares of Microsoft Corporation (MSFT) are up almost 1% in pre-market trading Monday despite news Facebook (FB) is no longer including search results from Bing on its site. The move, confirmed by a company spokesperson, follows the introduction of a new search tool by the social networking giant. The FB-Bing deal began in 2007 after Microsoft bought its 1.6% Facebook stake, and it was renewed in 2010.

MSFT shares recently gained $0.31 to $47.26. In the past 52 weeks, shares of the software giant have traded between a low of $34.63 and a high of $50.05. Shares are up 28.95% year-to-date, compared with an 12.08% gain in the S&P 500.

Cirrus Logic Inc. (CRUS) stock is up nearly 7% in pre-market trade, after Barclays upgraded the stock to ‘Overweight’ from ‘Underweight’.

Cirrus Logic, currently valued at $1.19B, has a median Wall Street price target of $21.50 with a high target of $30.00. In the past 52 weeks, shares of the semiconductor company have traded between a low of $16.80 and a high of $25.00 with the 50-day MA and 200-day MA located at $19.08 and $21.75 levels, respectively. Additionally, shares of CRUS trade at a P/E ratio of 0.45 and have a Relative Strength Index (RSI) and MACD indicator of 52.02 and +0.68, respectively.

CRUS currently prints a one year loss of about 3.29% and a year-to-date loss of around 7.78%.

Cirrus Logic Inc was up $1.24 to $20.08 at 8:51 a.m.

PetSmart, Inc (PETM) — The name is up 4.70% to $81.30 in early trade Monday after the specialty pet products chain agreed to be bought for about $8.25 billion, or $83 per share. The buyer is a consortium led by London-based private equity firm BC Partners.

BC Partners’ acquisition of PETM for $83 per share represents a 6.86% premium over the name’s closing pps on Friday.

In July Phoenix-based PetSmart revealed that Barry Rosenstein’s activist hedge fund Jana Partners had acquired a 9.9% ownership stake in the retailer, making it the company’s largest shareholder. Jana paid less than $55 per share for its stake.

Shares of American Realty Capital Properties, Inc. (ARCP) are down almost 10% to $8.12 in pre-market trading Monday after the company announced changes to its management and corporate governance. In a press release the company said David Kay has stepped down as CEO and from the ARCP Board of Directors. Lisa Beeson has also stepped down as President and COO.

American Realty Capital Properties, Inc., currently valued at $8.11B, has a median Wall Street price target of $11.00 with a high target of $16.00. In the past 52 weeks, shares of the New York-based company have traded between a low of $7.38 and a high of $14.96.

ARCP currently prints a one year loss of about 20.93% and a year-to-date loss of around 23.62%.

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