Shares of semiconductor company Broadcom Corporation(NASDAQ:BRCM) are falling after the mid-point of the company’s second quarter revenue outlook fell short of analysts’ consensus estimates. This morning, analyst commentary was mixed. Research firm Needham downgraded Broadcom to Hold from Buy. The firm said Q1 results and Q2 outlook indicated Mobile & Wireless growth is stalling and it noted management backed away from its prior connectivity growth expectations. Conversely, Bernstein thought Broadcom reported strong Q1 results. Bernstein thought the company’s LTE business remains frustrating, but can still perform well over the longer term. The firm thought the stock’s valuation was attractive. It raised…
Author: Jessica Swanson
Pacific Crest believes comment’s from Nielsen’s (NLSN) conference call indicate the company will start rating Pandora Media (NYSE:P) this summer. The firm views this as a positive since traditional media Ad buying is based on Nielsen data. The analyst expects a strong report tonight and for Ad sales to hit the high end of estimates of $136M. Analysts have a consensus price target of $32.88 on Pandora Media (NYSE:P) which indicates a 13% upside. The consensus rating of the stock is a HOLD with a score of 2.37. There are currently 13 Hold Ratings, 3 sell ratings and 14 Buy ratings…
Tesla Motors Inc(NASDAQ:TSLA) plans to set up a network of solar power charging stations in China that will use locally made PV modules instead of those produced by SolarCity Corp(NASDAQ:SCTY), according to news.cnyes.com, which cited Tesla CEO Elon Musk, reported DigiTimes. Analysts have a consensus price target of $214 on Tesla Motors Inc(NASDAQ:TSLA) which indicates a 5% upside. The consensus rating of the stock is a HOLD with a score of 2.47. There are currently 6 Buy ratings, 10 hold ratings and 1 strong buy rating on the stock. A recent analyst action consisted of Baird reiterating their Buy rating on…
International Business Machines Corp.(NYSE:IBM) was down 1% in recent pre-market trading on Tuesday after saying it will build a new big data and business analytics center of competence in Athens, Greece to boost its technical and consulting capabilities in the region. The information technology giant said the new center will lead big data and business analytics client engagements in the region, working closely with IBM’s global network of Business Analytics Centers in Berlin, Beijing, Dallas, London, New York, Tokyo, Washington and Zurich. IBM closed at $197.77 Monday regular hours in a 52-week range of $172.19 – $212. Analysts have a consensus…
Electronics For Imaging, Inc. (NASDAQ:EFII) announced that it has acquired Group Rhapso S.A., a printing and packaging software solutions developer based in Les Ulis, France. While financial terms of the acquisition were not disclosed, it is not expected to be material to EFI’s Q2 or full-year 2014 results. Rhapso’s employees have joined EFI and will be integrated into EFI’s European operations. The new acquisition will further strengthen EFI’s ERP leadership position in Europe. Analysts have a consensus price target of $47 on Electronics For Imaging, Inc.(NASDAQ:EFII) which indicates a 21% upside. The consensus rating of the stock is a BUY with a…
Boyd Gaming Corporation (NYSE:BYD) announced results from Borgata’s online gaming operations in the month of March. Combined, Borgata and party.poker generated $4.4M in online gaming revenue, leading the New Jersey online gaming market with a 37% share. Borgata’s online revenue grew nearly 6% from February to $3.2M; the property’s standalone market share was 27%. The company said Borgata and party.poker have led the New Jersey market every month since online gaming began in November 2013. Analysts have a consensus price target of $11.70 on Boyd Gaming Corporation (NYSE:BYD) which indicates a 3.5% downside. The consensus rating of the stock is a…
Joy Global announced that it entered into a definitive agreement to purchase certain assets of Mining Technologies International for $51M Canadian dollars. MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a world leading supplier of raise bore drilling consumables. The company is acquiring substantially all of the assets associated with MTI’s hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines. MTI’s fiscal 2013 revenues associated with these product lines were approximately $90M U.S. dollars. Excluding the impact of transaction costs and excess purchase accounting charges, the company…
TTM Technologies, Inc.(NASDAQ:TTMI) is lower after the company said late Thursday that it expects Q1 revenue at the low end of its guidance range of $290 to $310 million, vs. the analyst consensus of $301 million on Capital IQ. Shares are down 4.7% at $7.82, with a 52-week range of $6.53 – $10.91. The provider of time-critical and technologically complex printed circuit board products and backplane assemblies noted that while operating performance was consistent with its guidance, it expects to incur an unrealized, non-cash foreign exchange loss of approximately $3.6 million, or $0.03 per diluted share, in the quarter due to…
Citrix Systems, Inc. (NASDAQ:CTXS) announced it is working with Google, Inc. (NASDAQ:GOOG) to deliver Windows (MSFT) apps to Google Chromebooks. Citrix announced a promotional discount of 25% for XenApp Platinum edition, the flagship version that also includes Citrix AppDNA application management technology. AppDNA speeds up the migration for Microsoft customers from Windows XP to the newest versions. The promotion begins April 8, the date that Windows XP reaches end-of-life. Analysts have a consensus price target of $675 on Google, Inc.(NASDAQ:GOOGL) which indicates a 24.85% upside. The consensus rating of the stock is a BUY with a score of 2.75. There are currently 1…
At the conclusion of last Thursday’s FDA meeting of the Molecular and Clinical Genetics Advisory Panel, the panel members voted unanimously positive, 10-0, on all questions related to the Exact Sciences (NASDAQ:EXAS) Cologuard product. Based on the data that had been released to date, which showed compelling safety and efficacy for colorectal cancer and advanced adenomas as well as statistical superiority to FIT, a positive vote was already expected though we believe the unanimous nature is important to note. Of course, the panel vote does not constitute granting of a PMA by FDA, but given the overwhelmingly positive dialogue during…
Global Power reported fourth-quarter results that were essentially in line with our expectations and provided a 2014 outlook that was modestly lower than the company’s initial forecast. Nonetheless, in 2014, we expect Global Power to further integrate and leverage its recent acquisitions, driving revenue and earnings growth despite challenging utility power market dynamics, and move closer to achieving its goal of doubling revenue and operating margin over the next three to five years through a combination of organic and acquisitive growth. We are encouraged by the steps management is taking to improve Global Power’s commercial market positions and expect productivity…
Dynavax ended the fourth quarter with $189.4 million in cash, which, according to our model, should sustain operations into 2016. The net loss for the quarter, which included a one-time noncash-deemed dividend of $8.5 million related to preferred stock, was $21.5 million with a per share loss of $0.09, compared with our estimates of a net loss of $16.4 million and a per share loss of $0.07. We continue to expect full enrollment of the study by year-end 2014, top-line data release by year-end 2015, and potential regulatory approvals of Heplisav by the FDA and EMA in second half 2016.…