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May 29, 2014
42nd Annual Technology, Media & Telecom Conference to be held in New York on May 28-29 with webcasted company presentations to begin on May 29 at 8 am; not all presentations may be webcasted.Webcast Link
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November 24, 2015
11:33 EDTEXTRBrocade sinks to 52-week low after Q1 outlook trails estimates
Shares of Brocade (BRCD), a supplier of networking equipment, are sinking after the company's outlook for the first quarter trailed analysts' consensus estimates. WHAT'S NEW: Last night, Brocade reported fourth quarter adjusted earnings per share of 26c and revenue of $588.83M, beating analysts' consensus estimates of 24c and $575.1M, respectively. Adjusted gross margin for the quarter was 67.9%, while adjusted operating margin was 25%. SAN product revenue was $325M in Q4, flat year-over-year and up 5% quarter-over-quarter, while Q4 IP Networking product revenue was $170M, up 12% year-over-year and 10% quarter-over-quarter. GUIDANCE: Looking ahead to Q1, Brocade forecast adjusted EPS of 23c-25c and revenue of $550M-$570M, below analysts' consensus estimates of 26c and $582.17M, respectively. The company also sees Q1 adjusted gross margin of 67%-67.5%, adjusted operating margin of 24%-25.5%, adjusted free cash flow of $30M-$50M, operating cash flow of $50M-$70M and capital expenditures of $15M-$20M. Additionally, the company forecast Q1 SAN product revenue flat to up 3% quarter over quarter, "as we typically see stronger buying patterns from our OEM partners in our fiscal Q1." IP Networking revenue is expected down 16% to down 22% q/q, driven by U.S. federal seasonality and lower router sales. The company sees Q1 Global Services revenue down 2% q/q due to a one-time catch-up benefit realized in Q4 of approximately $3M. Brocade noted that at the end of Q4, OEM inventory was approximately 1.3 weeks of supply based on SAN business revenue and the company expects inventory to be between one to two weeks in Q1. ANALYST REACTION: JPMorgan analyst Rod Hall downgraded Brocade to Neutral from Overweight this morning, saying that enterprise IT spending continues to look weak after the company's guidance missed estimates. Hall also cut his price target for shares to $9 from $14. PRICE ACTION: Brocade fell 82c, or about 8%, to $9.27 in late morning trading on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $9.16. Including today's pull back, the shares have lost approximately 20% over the past 12 months. OTHERS TO WATCH: Other networking equipment suppliers include Cisco Systems (CSCO), down 0.6%, Juniper Networks (JNPR), down 0.4%, Extreme Networks (EXTR), down 0.7%, and QLogic (QLGC), down 1.3%.
10:20 EDTINTUJPMorgan asks users of Quicken to verify data, WSJ reports
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November 20, 2015
10:17 EDTINTUHigh option volume stocks
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November 19, 2015
19:19 EDTINTUOn The Fly: After Hours Movers
UP AFTER EARNINGS: Intuit (INTU), up 8.1%... Ross Stores (ROST), up 8.2%. ALSO HIGHER: Cabela's (CAB), up 7.5% after Bloomberg reported that the company is receiving takeover interest... Nike (NKE), up 3.4% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend... Centene (CNC), up 2.4% after reiterating its fiscal 2015 earnings per share guidance... Universal Insurance (UVE), up 2.7% after announcing a new $10M share repurchase program. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 36.9%... Mentor Graphics (MENT), down 26.2%... Workday (WDAY), down 5.5%... Wesco Aircraft (WAIR), down 1.4%... Williams-Sonoma (WSM), down 3.7%... Zoe's Kitchen (ZOES), down 3.6%... Momo (MOMO), down 3.3%... Autodesk (ADSK), down 1%... Gap (GPS), down marginally.
16:06 EDTINTUIntuit raises FY16 EPS view to $3.45-$3.50 from $3.40-$3.45, consensus $3.43
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16:04 EDTINTUIntuit trades higher after earnings, levels to watch
Shares were last at $102 in the extended session following an earnings beat by the company. At that price resistance is at $103.82. Support is at $100.88.
16:04 EDTINTUIntuit sees Q2 EPS 17c-20c, consensus 5c
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16:02 EDTINTUIntuit reports Q1 EPS 9c, consensus (4c)
Reports Q1 revenue $713M, consensus $670.37M.
15:21 EDTINTUNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Intuit (INTU), consensus (4c)... Ross Stores (ROST), consensus (50c)... Workday (WDAY), consensus (4c)... Autodesk (ADSK), consensus 8c... Gap (GPS), consensus 63c... Splunk (SPLK), consensus 1c... Williams-Sonoma (WSM), consensus 72c... Mentor Graphics (MENT), consensus 29c.
November 18, 2015
07:27 EDTINTUIntuit volatility elevated into Q1 and outlook
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November 17, 2015
10:00 EDTIMOSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded on valuation at KeyBanc... BHP Billiton (BHP) downgraded to Neutral from Buy at Clarksons Platou... Chesapeake (CHK) downgraded to Neutral from Buy at Sterne Agee CRT... ChipMOS (IMOS) downgraded to Equal Weight from Overweight at Morgan Stanley... Clovis (CLVS) downgraded to Neutral from Conviction Buy at Goldman... Cooper Companies (COO) downgraded to Market Perform from Outperform at Wells Fargo... Five Below (FIVE) downgraded to Neutral from Buy at Sterne Agee CRT... Grainger (GWW) downgraded to Underweight from Neutral at Atlantic Equities... Hess Corp. (HES) downgraded to Perform from Outperform at Oppenheimer... J Sainsbury (JSAIY) downgraded to Neutral from Buy at Citi... Kindred Biosciences (KIN) downgraded to Market Perform from Outperform at BMO Capital... Leju (LEJU) downgraded to Neutral from Buy at BofA/Merrill... Lombard Medical (EVAR) downgraded to Equal Weight from Overweight at Barclays... Osiris (OSIR) downgraded to Sell from Hold at Brean Capital... Polaris Industries (PII) downgraded on anemic ORV growth at Wedbush... SQM (SQM) downgraded to Hold from Buy at HSBC... Southwestern Energy (SWN) downgraded to Underperform from Neutral at Sterne Agee CRT... Starwood (HOT) downgraded to Outperform from Buy at CLSA... Urban Outfitters (URBN) downgraded to Hold from Buy at Cantor... WM Morrison (MRWSY) downgraded to Sell from Neutral at Citi... adidas (ADDDY) downgraded to Sector Perform from Outperform at RBC Capital... athenahealth (ATHN) downgraded to Underweight from Equal Weight at Barclays.
06:07 EDTIMOSChipMOS downgraded to Equal Weight from Overweight at Morgan Stanley
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November 16, 2015
12:05 EDTSYNASynaptics to host analyst and investor meeting
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November 13, 2015
10:39 EDTACLSAxcelis management to meet with Needham
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November 12, 2015
16:08 EDTIMOSChipMOS sees FY15 CapEx less than $125M
16:07 EDTIMOSChipMOS sees Q4 revenue down 4%-9% sequentially, consensus $146.2M
The company expects gross margin on a consolidated basis to be in the range of approximately 14% to 18% for the fourth quarter.
16:06 EDTIMOSChipMOS reports Q3 EPS 48c, may not compare to consensus 22c
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November 10, 2015
06:07 EDTIMOSChipMOS reports Oct. revenue down 17.4% to $49.4M
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