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News Breaks
June 12, 2014
04:55 EDTMXL, MXL, MXL, MXLMaxLinear management to meet with Needham
Meetings to be held in New York on June 16, in the Mid-Atlantic area on June 17 and in New York on June 18 hosted by Needham.
News For MXL From The Last 14 Days
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September 11, 2014
08:17 EDTMXLMaxLinear FSC satellite receiver selected by Digital Devices
MaxLinear announced that Digital Devices GmbH has selected the MxL584 Full-Spectrum Capture satellite receiver for a new eight-tuner PCI Express TV card and for its newest generation of Octopus Net SAT>IP gateway.
07:29 EDTMXLDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
September 10, 2014
07:27 EDTMXLARRIS, Sonus pullbacks bring compelling entry points, says Jefferies
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September 9, 2014
16:23 EDTMXLOn The Fly: Closing Wrap
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12:10 EDTMXLOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after opening in the red and trading in a narrow range throughout the morning. The domestic economic calendar only had two reports of consequence, and neither was particularly market moving. All eyes are on Cupertino, California, where Apple (AAPL) will shortly begin its much-anticipated product launch event. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism survey for August came in at 96.1, which was above the expected 96.0 reading. The Job Openings and Labor Turnover Survey, or JOLTS report, showed job openings slipped 2K to about 4.67M in July. COMPANY NEWS: Shares of Apple were up 1% near noon ahead of the tech giant's latest product launch event, which is scheduled to begin at 1 pm ET. Expectations are for the company to introduce the iPhone 6, which has widely been speculated to be bigger than past members of the line-up and may come in 4.7 inch and 5.5 inch sizes. The company is also expected to unveil a wearable device, likely a smartwatch, and a mobile payment system integrated with both... Shares of fast food giant McDonald’s (MCD) slid 1% after reporting its comparable sales were down 3.7% worldwide in August and that its China supplier issue will negatively impact its Q3 EPS by 15c-20c. MAJOR MOVERS: Among the notable gainers was Annies (BNNY), which surged 38% after prepared foods giant General Mills (GIS) last night said that it had agreed to buy the mac and cheese maker for $820M, or $46 per share in cash. Shares of a number of other natural food makers climbed after the deal, as WhiteWave (WWAV) rose nearly 3% and Boulder Brands (BDBD) jumped over 8%. Following the deal announcement, shares of General Mills slipped about 0.5%. Among the noteworthy losers was Leidos (LDOS), which dropped 15% after the company reported lower than expected second quarter earnings and cuts its EPS view for the fiscal year. Also lower was MaxLinear (MXL), which fell 15% after the company said several of its cable and satellite customers have requested push-outs of shipments, resulting in the company lowering its Q3 revenue outlook and Needham downgrading the stock to Buy from Strong Buy. INDEXES: Near midday, the Dow was down 69.02, or 0.4%, to 17,042.40, the Nasdaq was down 14.93, or 0.33%, to 4,577.35, and the S&P 500 was down 6.74, or 0.34%, to 1,994.80.
10:15 EDTMXLMaxLinear downgraded to Buy from Strong Buy at Needham
Needham downgraded MaxLinear to Buy following lowered Q3 guidance.
10:05 EDTMXLMaxLinear management to meet with Benchmark
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05:26 EDTMXLMaxLinear lowers Q3 revenue outlook to $32M-$33M from $36M-$38M
Consensus $37.29M. MaxLinear also announced that it expects gross margin for Q3 to be approximately 61%, compared with prior guidance of 62.0% to 62.5%. Dr. Kishore Seendripu, president and CEO of MaxLinear stated, "Despite entering the third quarter with confidence in our guidance range, several of our cable and satellite customers have since requested push-outs of shipments previously scheduled for the current quarter. In our prior guidance for Q3, we had assumed a sequential decline in Cable revenues of approximately 2%-5%. We now expect Cable revenues to decline sequentially by about 25%. These push-out requests are primarily related to 24-channel DOCSIS 3.0 cable modem and gateway solutions, where channel inventory appears to have built-up as a result of strong shipments in the first half of 2014."

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