Raytheon Company(NYSE:RTN) trades lower Thursday as unchanged full-year guidance disappointed a Street already exposed to a bullish set of reports from the defense contractor space. RTN did beat with Q1 results. The company reported net profit of $600 million for the quarter to March 31 compared with $494 million a year earlier, with per-share earnings rising to $1.89 from $1.49. The consensus estimate on Capital IQ was for $1.76. Sales dropped at all four of its divisions, slipping to $5.5 billion from $5.68 billion a year earlier. Revenue matched Street expectations. Raytheon’s operating margin rose to 14.3% from 12% a year…
Author: Thomas Larson
Shares of VMware, Inc.(NYSE:VMW), are among today’s losers despite the company having reported results that beat the consensus forecast. Several analysts contended that the company reaffirming its full-year outlook and reporting lower than expected enterprise license agreements as a percentage of bookings may have disappointed investors. This morning, research firms Oppenheimer, Pacific Crest, and Raymond James all recommended buying VMware on any weakness. Pacific Crest said lower than expected enterprise license agreements as a percentage of bookings and weaker overall bookings growth disappointed the Street. Another firm, Janney Capital, said it believes investors may be slightly disappointed that VMware reiterated…
RadioShack Corporation(NYSE:RSH) shares popped higher in very early trading Tuesday but have since reversed, trading down to $1.33 and nearing a test of the all-time low of $1.28 hit April 17. Shareholders are digesting news the company’s executive vice president of store operations has resigned to pursue other interests. RadioShack filed the notice of Troy Risch’s resignation with the SEC on April 18, and the SEC released the 8-K filing communicating the resignation on April 21. According to the filing, Risch’s duties will be temporarily assumed by other members of management, effectively immediately. Risch held the post at the troubled electronics…
According to DigiTimes, Microsoft Corporation(NASDAQ:MSFT) may be seeing internal and external conflicts in technology development, partner relations and operating model. Demand for the new desktop Windows operating system have been weak, PC brand vendors are gradually accepting Google’s (GOOG) Chrome OS and providing dual-OS solutions, and Microsoft continues to charge licensing fees on its operating model while Android and Apple (AAPL) have started offering OS X for free. Analysts have a consensus price target of $37.28 on Microsoft Corporation(NASDAQ:MSFT) which indicates a 6.34% downside. The consensus rating of the stock is a HOLD with a score of 2.24. There are currently 19…
Facebook Inc. (NASDAQ:FB) is down 5% to $55.94 today, heading for a test of support at the $55 area. This was previously a zone of both support and resistance earlier in the year before shares took off to the life high at $72.59. A break below $55 would be bearish, with next major support at $53.55. Resistance is at $56.95, according to theflyonethwall.com. Analysts have a consensus price target of $71.68 on Facebook Inc. (NASDAQ:FB) which indicates a 26% upside. The consensus rating of the stock is a BUY with a score of 2.76. There are currently 9 Hold Ratings and…
Shares of Infosys Ltd ADR (NYSE:INFY), which consults on business information technology and systems integration, are falling after the company’s fourth quarter revenue trailed analysts’ consensus estimate. This morning, Infosys reported fourth quarter earnings per share of 85c and revenue of $2.09B, compared to expectations of 79c and $2.11B, respectively. The company’s CEO and Managing Director, S. D. Shibulal, said he was pleased that Infosys was able to double its growth rate for the full year compared to last year, though added that its performance in the last quarter of of the fiscal year had been “disappointing.” The company noted that Infosys…
Riverbed Technology, Inc.(NASDAQ:RVBD) shares rose in Tuesday’s pre-market session, as Paul Singer’s Elliott Management Corp. said it “remains extremely interested in acquiring Riverbed,” noting its $21-per-share cash offer for the application performance infrastructure company still stands. RVBD was up 4% at $19.62 in recent pre-market trading after it closed Monday at $18.86, which Jesse Cohn, portfolio manager at Elliott, noted is below its current offer as well as its initial offer price of $19 per share. “Nevertheless, even at these levels, the stock price remains above the unaffected price of $16-$17 per share,” Cohn said, adding “shareholders clearly still expect that…
Twitter Inc (NYSE:TWTR) co-founders Jack Dorsey and Evan Williams do not intend to sell any of their shares of common stock when the current lockup expires May 5, the company said in an SEC filing. Shares rose more than 2%. Twitter CEO Richard Costolo also has no current plans to sell any shares, according to the filing. The company said that before the top Twitter executives can sell shares, they are required to use a trading plan under internal policy, which includes a “cooling off” period and a minimum wait of 90 days after Twitter’s next open window. In late morning…
eBay Inc(NASDAQ:EBAY)’s PayPal unit has launched a fingerprint authentication service on the new Samsung Galaxy S5 device. The service allows users to log in with their fingerprint to shop at merchants that accept PayPal on mobile web sites, mobile apps and in stores. It’s available in 25 global markets. Additionally, Samsung Galaxy S5 users who use the PayPal app will receive $50or more in offers at several merchants that accept PayPal, it said. The app is also available on the Samsung Gear 2 and Gear Fit. Ebay shares are slightly lower mid-afternoon Friday at $53.88 in a 52-week range of $48.06 -…
FBR Capital says a “golden buying opportunity” exists in the enterprise software space following the recent sell-off of high-growth names. The firm believes overall software results in Q1 tracked in line to slightly ahead of expectations. It recommends buying Splunk (NASDAQ:SPLK), Salesforce.com (NYSE:CRM), Workday (NYSE:WDAY), FireEye (NASDAQ:FEYE), NetSuite (NYSE:N) and Palo Alto (NYSE:PANW) on the recent pullbacks. GT Advanced Technologies (NASDAQ:GTAT) announced that it has received $58.6M in orders this quarter for high temperature refractory metal furnaces that are used for a variety of industrial purposes. These orders will be reflected in Q2 reportable backlog and GT expects to recognize…
Silicon Motion Technology’s (NASDAQ:SIMO) American depositary shares slipped in Monday’s pre-market session, after the semiconductor-holding company said based on preliminary results, it expects sequential revenue growth for Q1 to be near the high end of its original guidance range issued in January of flat to down 10%. The company also said it expects gross margin to be within the lower half of its guidance range of 48% to 50%. SIMO was down 2.3% at $16.32 in recent pre-market trading, in a 52-week range of $9.90 to $18.44. The decline indicates investors had been hoping the results would come in better…
Escalon Medical (NASDAQ:ESMC) is climbing higher in pre-market trading after the company said it received U.S. Food and Drug Administration (FDA) 510(k) clearance for its new tablet-based ultrasound imaging system, the Sonomed Escalon VuPad. Shares are up 24.18% at $1.90, with a 52-week range of $1.01 – $2.59. The VuPad is a portable ultrasound device which combines Sonomed Escalon’s UBM and B-scan image quality with an ultra-high-resolution screen that has 25% larger viewing area than other portable ultrasound devices. The company anticipates immediate shipments of VuPad systems as orders are received and manufacturing ramps up to meet demand. CE marking…