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Stock Market & Financial Investment News

News Breaks
May 29, 2014
06:20 EDTRBCNRubicon management to meet with Sterne Agee
Meeting to be held in Boston on May 29 hosted by Sterne Agee.
News For RBCN From The Last 14 Days
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August 8, 2014
10:00 EDTRBCNOn The Fly: Analyst Downgrade Summary
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09:30 EDTRBCNRubicon price target cut to $10 from $17 at DA Davidson
DA Davidson cut its price target on Rubicon after the company reported in-line results but provided Q2 guidance that the firm views as lackluster. The firm expects the company's business to eventually rebound and keeps a Buy rating.
07:51 EDTRBCNRubicon downgraded to Hold at Canaccord
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06:48 EDTRBCNRubicon downgraded to Hold from Buy at Canaccord
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06:34 EDTRBCNRubicon downgraded to Neutral from Overweight at JPMorgan
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August 7, 2014
16:58 EDTRBCNRubicon falls 10% to $6.75 after Q3 loss forecast worse than expected
16:33 EDTRBCNRubicon sees Q3 EPS (39c)-(44c), consensus (27c)
Sees Q3 revenue $8M-$12M, consensus $16.25M. The company said, “We expect continued progress in growing the wafer business in the third quarter with additional volumes in both polished and PSS wafers. However, we are seeing very limited demand for two-inch core in the third quarter as our polishing customers currently have excess inventory. In addition, we believe that recent capacity additions in the sapphire market, which are primarily targeted at the developing mobile device market, are temporarily impacting the two-inch market...[The] relatively wide range of expected revenue is due to the near-term uncertainty in the two-inch market. We expect two-inch inventories at our polishing customers to be reduced over the course of the third quarter and for demand for that product to improve in Q4."
16:32 EDTRBCNRubicon reports Q2 EPS (39c), consensus (42c)
Reports Q2 revenue $14.5M, consensus $14.4M. Revenue from polished and patterned wafers increased by $1.8M sequentially while revenue from cores declined by a similar amount. "The decline in core sales was due to more crystal production being directed into wafer products and because the Company had exhausted its excess boule inventory in the first quarter. Wafer costs continued to be higher than normal due to the large number of PSS samples produced and the cost of establishing a four-inch polishing line," the company said.
16:00 EDTRBCNRubicon trading halted, pending news
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