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Stock Market & Financial Investment News

News Breaks
January 25, 2013
11:58 EDTPLXTPotomac Capital reports 5.1% stake in PLX Technology, urges alternatives
On January 25, Potomac Capital delivered a letter to the Board of Directors of PLX Technology. In the letter, the Potomac stated their belief that the Board and management of PLX should immediately commence a process of a thorough review of all strategic alternatives available to PLX and that it should not remain an independent public company. Potomac noted that during the “go-shop” period of the now abandoned transaction with Integrated Device Technology, Inc., there had been market interest in the possible acquisition of PLX and an interested party had submitted a formal competing offer for an all cash acquisition of PLX. The letter concluded that as a result of the recent divestiture of unprofitable non-core businesses and $20M annual operating expense reduction, PLX represents an even more attractive acquisition target today and, therefore, shareholder value can be maximized only through a robust exploration and evaluation of all available strategic options and value-maximizing opportunities.
News For PLXT From The Last 14 Days
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April 22, 2014
09:16 EDTPLXTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
09:00 EDTPLXTPLX Technology rises 8.1%
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April 21, 2014
16:10 EDTPLXTPLX Technology sees Q2 revenue $27M-$29M, consensus $26.95M
Q2 non-GAAP gross margins are expected to be approximately 56%, with GAAP margins at approximately 55%.
16:09 EDTPLXTPLX Technology reports Q1 EPS 7c, consensus 2c
Reports Q1 revenue $24.8M, consensus $25.47M.

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