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Stock Market & Financial Investment News

News Breaks
September 18, 2012
08:12 EDTPMCSPMC-Sierra downgraded to Neutral from Buy at Miller Tabak
Miller Tabak downgraded PMC Sierra weakness in demand for components and a slower IT demand environment. Price target lowered to $7.50 from $9.
News For PMCS From The Last 14 Days
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July 28, 2015
17:19 EDTPMCSRelational lowers stake in PMC-Sierra to 4.9% from 8.75%
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July 23, 2015
19:06 EDTPMCSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Amazon (AMZN), up 17.2%... Marketo (MKTO), up 15.4%... Juniper Networks (JNPR), up 9.9%... NetGear (NTGR), up 9.2%... Qlik Technologies (QLIK), up 9.1%... LogMeIn (LOGM), up 9.9%... Pandora (P), up 10.3%... Mitek Systems (MITK), up 7.8%... Proofpoint (PFPT), up 5.1%... Supreme Industries (STS), up 4.7%... Skyworks (SWKS), up 3.6%... IGI Laboratories (IG), up 3.7%... Maxim Integrated Products (MXIM), up 4.1%... Boyd Gaming (BYD), up 4.1%... Trinity Industries (TRN), up 5%... Trinity Industries (N), up 3.2%... Starbucks (SBUX), up 4.5%. ALSO HIGHER: Qorvo (QRVO), up 2.7% after Skyworks reported quarterly results. DOWN AFTER EARNINGS: TrueCar (TRUE), down 33.1% after reporting quarterly results and cutting fiscal 2015 revenue guidance... Tripadvisor (TRIP), down 9.2%... Align Technology (ALGN), down 7.4%... Capital One (COF), down 4.9%... PMC-Sierra (PMCS), down 9.1%... athenahealth (ATHN), down 2.1%. ALSO LOWER: Sunesis Pharmaceuticals (SNSS), down 59.7% after giving vosaroxin regulatory update... Avalanche Biotechnologies (AAVL), down 5.6% after CEO Thomas Chalberg, Jr., Ph.D. resigns and Hans Hull name interim CEO.
16:27 EDTPMCSPMC-Sierra to eliminate 200 employees, cut costs by 14%
PMC-Sierra said it initiated steps to reduce spending across the organization by approximately 14%. This reorganization involves a reduction in force of approximately 200 employees worldwide and other reductions that are together expected to result in approximately $40M per year in savings. The full savings resulting from these workforce reductions will not be realized until the Q4 of the current year, although some impact from these measures will be noticeable in the company’s Q3 results.
16:26 EDTPMCSPMC-Sierra reports Q2 EPS 9c, consensus 11c
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