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Stock Market & Financial Investment News

News Breaks
July 14, 2014
07:36 EDTHLITHarmonic reports preliminary Q2 EPS 0c-2c, consensus 6c
Reports preliminary Q2 revenue $108M-$110M, consensus $117.17M. GAAP gross margin is expected to be in the range of 44.5%-46.5%, compared with the company's previous guidance of 49.5%-50.5%. GAAP operating expenses are expected to be in the range of $58.5M-$59.5M, compared with the company's previous guidance of $61M-$62M. Non-GAAP gross margin is expected to be in the range of 49%-51%, compared with the company's previous guidance of 52.5%-53.5%. Non-GAAP operating expenses are expected to be in the range of $52.5M-$53.5M, compared with the company's previous guidance of $54.5M-$55.5M. Preliminary bookings for the Q2 were $113.4M, with first half 2014 bookings approximately 1% higher than bookings in the first half of 2013. Total backlog and deferred revenue was $132.1M as of June 27, compared to $126.4M as of March 29.
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July 14, 2014
12:21 EDTHLITOn The Fly: Midday Wrap
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11:39 EDTHLITHarmonic plummets after outlook falls short of estimates
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09:16 EDTHLITOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
07:40 EDTHLITHarmonic sees Q3 revenue $103M-$113M, consensus $122.7M
Sees Q3 GAAP gross margins in the range of 48%-49%; GAAP operating expenses in the range of $57.5M-$58.5M; Non-GAAP gross margins in the range of 52%-53%; Non-GAAP operating expenses in the range of $51.5M-$52.5M.
07:36 EDTHLITHarmonic reports preliminary Q2 EPS 0c-2c, consensus 6c
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