According to the research firm, UBS, Old technology stocks like Apple Inc (NASDAQ:AAPL), Microsoft Corp (NASDAQ:MSFT) and Google Inc (NASDAQ:GOOG) have started gaining back traction of late. As per Hartmut Issel, Head of Equity, Credit & Macro for APAC at UBS CIO Wealth Management, the focus is shifting back on old technology stocks from that of new technology stocks as the increased U.S. capex spending magnifies the opportunity for these companies. Issel said that nearly 30% of the total U.S. capex is earmarked for IT, which makes them an interesting space in the forthcoming term. Increased U.S. Capex An Opportunity…
Author: Ryan Wallace
We believe Salesforce.com, Inc. (NYSE:CRM), Veeva Systems Inc (NYSE:VEEV), and Workday Inc (NYSE:WDAY) are likely to be in the short basket of David Einhorn. Billionaire hedge fund manager David Einhorn is famous for shorting stocks and making a ton of money. On Monday evening at the Ira Sohn Investment Conference David Einhorn presented the short thesis for Athenahealth Inc. (NASDAQ:ATHN). The stock lost 16% on Tuesday. Athenahealth Inc. isn’t the only stock David Einhorn is shorting. Einhorn, in a Bloomberg TV interview, revealed that he is shorting dozens of technology stocks. This is a brilliant approach because he can maintain…
Billionaire hedge fund manager Dan Loeb compared The Dow Chemical Company (NYSE:DOW) and LyondellBasell Industries NV (NYSE:LYB) in his latest investor letter. Dan Loeb is an activist hedge fund manager who previously had a very successful campaign at Yahoo! Inc. (NASDAQ:YHOO). He wasn’t the first hedge fund manager targeting Yahoo! Inc. (NASDAQ:YHOO) but he was the first one who was able to more than double his investment. According to Dan Loeb The Dow Chemical Company (NYSE:DOW) has a flawed accounting system. The company’s Petrochemical business is under-earning $2.5 billion compared to LyondellBasell Industries NV (NYSE:LYB). This is because the unit sells…
In a note issued today Cowen said Pandora Media Inc(NYSE:P) reported solid Q1 results citing rising mobile ad revenues. The firm believes its strong listening metrics for the remainder of the year will be a key driver of growth. Shares are Outperform rated with a $41 price target. Pandora Media Inc(NYSE:P) has a 50 day moving average of $30.95 and a 200 day moving average of $30.71. The current quarter consensus EPS estimate is $0.16, After Barracuda Networks Inc (NYSE:CUDA) reported stronger than expected results, JMP Securities thinks the company is executing on its sales strategy of cross-selling products. The firm finds…
Itron, Inc.(NASDAQ:ITRI) says Q1 sales were $475 million, above the mean Bloomberg estimate for $434 million. Non-GAAP EPS were $0.31, a nickel above estimates. Separately, ITRI says Steven M. Helmbrecht, the company’s executive vice president (EVP) and chief financial officer (CFO), will be departing effective December 31. The company will conduct a search for external candidates to fill the position. Encore Wire Corporation(NASDAQ:WIRE) was steady in Thursday late trade and the electrical wire and cable company reported Q1 net income topping its year-ago results and also exceeding analyst projections. The company earned $10.9 million during the three months ended March 31, or $0.52…
Baidu Inc (ADR)(NASDAQ:BIDU) is up 6.4% in the extended session to $170 at time of writing. This move up broke the neckline on an inverted, bullish, head and shoulders pattern at the $163 area. Upside potential for the pattern is to the $183 area. In a post earlier to the Netflix Inc., (NASDAQ:NFLX) corporate blog, the company’s vice president of content delivery Ken Florance made the case that there cannot be an “intensely competitive” market when Comcast (CMCSA) alone sets the terms and conditions for access to its subscribers. “We’re very concerned that a combined Comcast-TWC will place toll taking above consumer…
Cirrus Logic, Inc.(NASDAQ:CRUS), a maker of analog and mixed-signal integrated circuits, is a Thursday gainer as the major chip supplier to Apple (NASDAQ:AAPL) advances in the wake of AAPL’s upbeat earnings and iPhone sales. CRUS is up nearly 5% near midday and earlier traded up to $20.43, its best level in two weeks. The company derives 80% to 85% of its total sales from Apple, according to Oppenheimer Research. Apple, late Wednesday, said it sold 43.7 million iPhones in its fiscal Q2, beating analyst estimates for 38 million. Apple reported revenues of $45.65 billion, above consensus of $43.53 billion. EPS…
Borderfree Inc(NASDAQ:BRDR) received a buy investment rating from Canaccord Genuity, which initiated coverage Tuesday of the provider of an international online-sales platform. The firm cited “solid growth for an extended period of time.” BRDR was up nearly 8% in recent pre-market trading after closing Monday at $14.43. Since its public debut last month, the stock has traded in a range of $13.29 to $21.25. Wave Systems Corp.(NASDAQ:WAVX) shares were higher nearly 30% in recent pre-market trade after entering a collaboration agreement with Micron Technology (MU) to develop solutions designed to strengthen user protection against current and emerging threats to compute and embedded…
Shares of NQ Mobile (NQ) are down another 18% in afternoon trade after short-seller Muddy Waters said the company’s disappointing quarterly earnings, announced last Thursday, were influenced by greater auditor scrutiny. In a post on its website, short-selling research firm Muddy Waters, which made a very public disclosure that it was short NQ’s stock in October 2013, called the company’s quarterly report disappointing. Muddy Waters said it believes the company’s auditor increased its level of due diligence during its 2013 audit. Muddy Waters also said that NQ’s revenue growth and increased guidance are the only tools the company has left…
Dreamworks Animation Skg Inc(NASDAQ:DWA) has reportedly submitted a bid for Vevo, the online music video service owned by among others Universal Music Group, Sony Music and Abu Dhabi Media, recode reported, without saying where it obtained the information. recode reported it was unclear whether the bid was for a minority stake, or for a controlling ownership stake. It added that other potential buyers for Vevo are Libety Media (LMCA, LMCB) and The Chernin Group. DWA was higher 1.3% in recent trade. The stock is trading near the mid-point of the 52-week range between $18.81 and $36.01. XG Technology Inc(NASDAQ:XGTI), a developer…
Yahoo’s upcoming quarter is “as lackluster as the last,” according to sources inside the company, reported Re/code. Amid the continued weakness in its core business, Yahoo CEO Marissa Mayer has made an offer to “a well-known ad exec” to become the company’s Chief Revenue Officer, the report added. Analysts have a consensus price target of $36.33 on Yahoo! Inc. (NASDAQ:YHOO) which indicates a 9.87% downside. The consensus rating of the stock is a HOLD with a score of 2.48. There are currently 14 Hold Ratings, 16 Buy ratings and 1 Sell ratings on the stock. The most recent analyst action…
Google (NASDAQ:GOOG) rose Tuesday as the company is reportedly in early discussions to buy Skybox Imaging and has also expressed an interest in Titan Aerospace according to people familiar with the discussions. According to The Information, a technology industry news source, both companies are privately held high-resolution satellite imaging companies which provide services to global customers. These high tech companies are in the forefront of satellite data delivery to commercial and government clients. In actual deal news, Google is looking to capture more tourist dollars through a new licensing agreement with Room 77, a hotel-booking start-up company backed by Expedia…