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February 7, 2013
18:59 EDTETRM, CSTR, MCHP, SPWR, NUAN, ATVI, RVBD, UBTI, LNKDOn The Fly: After Hours Movers
UP AFTER EARNINGS: LinkedIn (LNKD), up 10%... Activision Blizzard (ATVI), up 5.4%... Microchip Technology (MCHP), up 6.5%... Ubiquiti Networks (UBTI), up 8.9%... DOWN AFTER EARNINGS: Nuance (NUAN), down 14.5%... Coinstar (CSTR), down 8.5%... Riverbed (RVBD), down 8.8%... SunPower (SPWR), 5%... ALSO LOWER: EnteroMedics (ETRM), down 51% after its ReCharge trial failed to meet an efficacy endpoint.
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November 16, 2015
16:13 EDTNUANNuance sees FY16 EPS $1.35-$1.45 consensus $1.38
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16:04 EDTNUANNuance reports Q4 EPS 41c, consensus 35c
Reports Q4 revenue $504.1M, consensus $507.84M. In the fourth quarter of fiscal 2015, Nuance reported GAAP revenue of $504.1M up from $502.3M a year ago. Nuance reported non-GAAP revenue of $513.3M, which includes $9.2M of revenue lost to accounting treatment in conjunction with acquisitions, compared to $520.3M in the fourth quarter of fiscal 2014. Fourth quarter 2015 revenue was negatively affected by currency fluctuations as well. If fourth quarter 2014 currency rates were applied to fourth quarter 2015 non-GAAP revenue, Nuance would have achieved approximately 1% organic non-GAAP revenue growth for the quarter. In the fourth quarter of 2015, total recurring revenue was $347M and represented 68% of total non-GAAP revenue, compared to $325.7M and 63% a year ago. In the fourth quarter of fiscal 2015, Nuance reported net new bookings of $357.4M, up 8.7% from $328.8M a year ago. If fourth quarter 2014 currency rates were applied to Nuance's fourth quarter 2015, net new bookings would have been up 12% from a year ago.
15:02 EDTNUANNotable companies reporting after market close
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13:38 EDTNUANNuance technical comments ahead of results
The stock has been trading in a range since September of this year that is defined largely by a low at $16 and a high at $17.75. If the news is bullish, there could be a breakout above the top of the range. Next resistance levels above $17.75 are at $18.49, $18.96, which is the 52-week high, and $19.39. If the news is a negative surprise, there could be a break of the low of the range. Next supports below $16 would be at $15.21, $14.60, and $14.
12:04 EDTLNKDLinkedIn management to meet with Needham
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09:48 EDTATVIActivision Blizzard management to meet with Brean Capital
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November 13, 2015
10:48 EDTATVIGameStop retreats after downgrade, NPD sales data
Video game retailer GameStop (GME) is falling after its stock was downgraded by Pacifc Crest and a research firm estimated that video game software sale declined 3% last month compared to the same month of last year. Notably, the news comes after video game makers Activision Blizzard (ATVI) and Electronic Arts (EA) have recently announced some upbeat news. WHAT'S NEW: Pacific Crest analyst Evan Wilson cut his rating on GameStrop to Sector Weight from Overweight, citing weaker than expected physical game sales, the growth of digital games, and the stock's gains. Noting that research firm NPD reported that sales of new physical software video games had dropped 3% year-over-year last month, Wilson says he is not as optimistic as he had been that the category will grow going forward. Additionally, the popularity of digital games, where GameStop's market share and profitability are much lower than in physical software, is hurting the retailer, the analyst stated. The new video games due out in 2016 don't look especially impressive, and before today's trading, GameStop's stock was approaching Wilson's previous price target, the analyst wrote. WHAT'S NOTABLE: Activision Blizzard's stock climbed November 11 and November 12 after the company announced that its new Call of Duty video game had generated more than $550M of sales in the first weekend it was available. In a note to investors on November 11, Piper Jaffray analyst Michael Olson said he still anticipates that Activision will sell 20.5M units of Call of Duty this year. However, he added that the estimate could prove conservative, given solid reviews of the game and a bigger next-gen console installed base. He kept an Overweight rating on the shares. On October 29, Electronic Arts reported stronger than expected second quarter results and provided stronger than expected Q3 guidance. The company's "Star Wars: Battlefront" game, due out November 17, has generally gotten good reviews from analysts. The video game should be "one of the strongest titles" this quarter, and should kick off an important franchise for the company, predicted Piper's Olson, who expects the company to sell 13.5M units of the game. He kept an $87 price target and Overweight rating on EA shares. PRICE ACTION: In morning trading, GameStop dropped 12% to $39.20, Electronic Arts slid 1% to $70.93 and Activision fell 1.8% to $34.39.
08:20 EDTSPWRSunPower should be bought aggressively at current levels, says Baird
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06:11 EDTNUANNuance volatility elevated into Q4 and outlook
Nuance November call option implied volatility is at 67, December is at 40, January is at 37; compared to its 52-week range of 21 to 51, suggesting large near term price movement into the expected release of Q4 results on November 16.
05:40 EDTATVIOctober NPD video game software declined 3%, says Piper Jaffray
Piper Jaffray analyst Michael Olson says October NPD video game software declined 3% year-over-year, with Microsoft's (MSFT) Halo 5 being the top title by a "wide margin." Enough next generation hardware has now been sold to drive sustainable software growth on a quarterly basis, Olson tells investors in a research note. He maintains Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).
November 12, 2015
14:48 EDTSPWRSunPower analyst meeting increases optimism, says Raymond James
Raymond James said SunPower's (SPWR) analyst meeting today was upbeat and increased optimism in the story. Analyst Pavel Molchanov,said SunPower has a solid position in the industry, a supported balance sheet from Total, and leverage to residential leasing. Molchanov said SunPower tends to be the bellwether of the group and is not SunEdison (SUNE), which has the most strained balance sheet in the group. The analyst rates SunPower an Outperform with a $32 price target on shares.
10:44 EDTSPWRAxiom says sell SunEdison as investor confidence in management wanes
Research firm Axiom downgraded solar energy company SunEdison (SUNE) to Sell from Neutral in a note to investors today, saying that investors no longer trust the company and that its fundamentals look set to deteriorate further. WHAT'S NEW: Investors no longer believe SunEdison's guidance because a number of the company's previous promises have not materialized, Axiom analyst Gordon Johnson II contended. Specifically, on October 7, SunEdison said it would sell 50 megawatts to 70 megawatts of projects to third parties at gross margins of 18%-19%, but in the third quarter it sold 41 MW of projects to third parties at a gross margin of just 9.6%, according to Johnson. Additionally, SunEdison's yieldco, Terraform Power (TERP), promised that it would provide an estimate of its standalone value but has failed to do so, the analyst stated. Moreover, Terraform Power had said that it had no obligation to invest in SunEdison's existing projects, but it announced that it was investing another $388M in existing projects, the analyst stated. Given SunEdison's $11.7B in debt and its inability to sell projects at a gross margin of 18%-19%, its fundamentals seem poised to worsen, unless it can find cheaper funding sources, predicted Johnson, who set a $2 price target on the stock. WHAT'S NOTABLE: Another major solar energy company, SunPower (SPWR), today provided fiscal 2016 revenue guidance of $3.3B-$3.5B, versus the consensus outlook of $3.03B, in conjunction with its analyst day meeting. A much smaller player in the solar space, Solar3D (SLTD), increased its fiscal year sales guidance, with its CEO pointing to its "success in dominating key solar markets in California and Nevada." PRICE ACTION: In morning trading, SunEdison slipped 1% to $4.86, which is well above its low for the day of $4.06, which is also its 52-week low. Meanwhile, SunPower climbed 3.5% to $26.54 and Solar3D rose nearly 6% to $2.95.
09:21 EDTSPWROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Kohl's (KSS), up 5.4%... NetEase (NTES), up 6.3%... SunPower (SPWR), up 3.4%. ALSO HIGHER: Angie's List (ANGI), up 12.1% after after IAC (IAC) proposes to acquire the company... OHR Pharmaceutical (OHRP), up 7.4% after submitting a Special Protocol Assessment request to the FDA for OHR-102... Galena Biopharma (GALE) up 6.2% after being upgraded to Outperform from Perform at Oppenheimer... MannKind (MNKD), up 5.4% after confirming a planned stock sale. DOWN AFTER EARNINGS: Freshpet (FRPT), down 25%... Advance Auto Parts (AAP), down 11.1%... Viacom (VIAB), down marginally. ALSO LOWER: Derma Sciences (DSCI), down 30.4% after ending its Phase 3 clinical trials with aclerastide, DSC127, for diabetic foot ulcer healing... Sunedison (SUNE), down 11.2% after being downgraded to Sell from Neutral at Axiom.
07:47 EDTSPWRSunPower sees FY16 non-GAAP revenue $3.3B-$3.5B, consensus $3.03B
Sees FY16 gross margin 13%-15%, EBITDA $515M-$565M, CapEx $210M-$240M, gigawatts deployed 1.7 GW-2.0 GW.
November 11, 2015
15:00 EDTSPWRSunPower to host analyst day
Analyst Day to be held on November 12 at 9 am. Webcast Link
11:31 EDTSPWRSunEdison sinks after UBS cuts price target to $6
Shares of SunEdison (SUNE) are selling off for a second straight day after UBS cut its price target on the stock to $6. The seller of photovoltaic energy solutions declined yesterday after reporting a larger than expected quarterly loss. UBS analyst Julien Dumoulin-Smith attributed the post-earnings share selloff to "five key factors," including lower than expected margins on retained projects, management's confidence on the pending Vivint Solar (VSLR) acquisition while a renegotiation of the deal would be perceived positively, and LAP Holdings seeking no less than $150M in damages after SunEdison cancelled its acquisition of the Latin America hydropower and wind development maintenance company. Dumoulin-Smith cut his price target for SunEdison this morning to $6 from $9 and kept a Neutral rating on the name. SunEdison is down 15%, or 88c, to $4.89 in late morning trading. Following the stock lower are peers SolarCity (SCTY), SunPower (SPWR) and First Solar (FSLR).
10:04 EDTATVIPiper says 20.5M unit 'Call of Duty' estimate for 2015 could be conservative
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09:48 EDTATVIActivision 'Call of Duty' results bode well for EA, GameStop, says Baird
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08:10 EDTATVIActivision says new 'Call of Duty' exceeds $550M in first weekend sales
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08:03 EDTSPWRTurlock Irrigation and SunPower announce 20-year power purchase agreement
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