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News Breaks
February 13, 2013
09:03 EDTPLXTPotomac Capital Management sends letter to board of PLX Technology
"We are writing to express our grave disappointment over the company's failure to provide a meaningful response to the serious concerns outlined in our letter of January 25, 2013.  We have stated very clearly our belief that, in the current context, in order to maximize value for shareholders the Board of Directors must immediately commence a process of thorough review of all strategic alternatives available to PLX. Action must be taken decisively and urgently. The response we received from David Raun, the recently appointed President and CEO of the Company, stating that he and Arthur Whipple, the Company's CFO, will try to schedule time to meet with us as part of the senior management's periodic meetings with investors regarding routine communications is disturbing.  The issues we have raised are far too serious to be dismissively treated as routine communications and deserve the immediate attention of the Board... We believe that change in the Board is necessary at this time to break from the current Board's historic complacency and reactive practices and ensure objective analysis of value enhancing 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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