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Stock Market & Financial Investment News

News Breaks
February 5, 2013
16:23 EDTSIMGSilicon Image sees Q1 revenue $59M-$61M, consensus $60.3M
Sees Q1 Gross Margin approximately 58%.
News For SIMG From The Last 14 Days
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December 18, 2014
10:01 EDTSIMGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bruker (BRKR) downgraded to Sell from Neutral at Goldman...Linear Technology (LLTC) downgraded to Sell from Neutral at Citigroup... Macerich (MAC) downgraded to Neutral from Buy at MLV & Co... BreitBurn Energy (BBEP) downgraded to Sector Perform from Outperform at RBC Capital... Oceaneering (OII) downgraded to Sector Perform from Outperform at RBC Capital... Oil States (OIS) downgraded to Sector Perform from Outperform at RBC Capital... Teradyne (TER) downgraded to Neutral from Buy at Citigroup... Volcano (VOLC) downgraded to Neutral from Buy at Roth Capital... XL Group (XL) downgraded to Market Perform from Outperform at Keefe Bruyette... Intuit (INTU) downgraded to Neutral from Outperform at Wedbush... Penn Virginia (PVA) downgraded to Market Perform from Outperform at Wells Fargo... Whiting Petroleum (WLL) downgraded to Market Perform from Outperform at Wells Fargo... Time Warner Cable (TWC) downgraded to Neutral from Buy at BTIG... Royal Caribbean (RCL) downgraded to Sell from Hold at DNB Markets... Silicon Image (SIMG) downgraded to Market Perform from Outperform at Northland.
09:27 EDTSIMGSilicon Image downgraded to Neutral from Buy at Sidoti
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09:24 EDTSIMGSilicon Image downgraded to Market Perform from Outperform at Northland
09:21 EDTSIMGOn The Fly: Pre-market Movers
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07:56 EDTSIMGSilicon Image sees FY15 revenue down 10% from FY14, consensus $271.32
Silicon Image announced earlier that it expects a year-over-year revenue decline in 2015 of approximately 10% due to a reduction in mobile design wins at one of its largest customers. The decline in the mobile business segment is expected to be partially offset by continued strength in the company’s CE business segment due to continued penetration of MHL in mainstream TVs, and the popularity of 4K Ultra HD where the company has multiple HDMI 2.0 / MHL 3.0 designs. “Although we believe that both our CE and licensing businesses will remain strong, we now anticipate top line 2015 revenues to be down compared to 2014. While we continue to execute on our long term strategic growth initiatives, we remain committed to reduce our operating expenses in 2015 and anticipate that even with a top line revenue decline, we will remain profitable with operating margin as a percent of revenue expected to be flat to slightly up for the year,” said CEO Camillo Martino. For reference, FY14 revenue consensus $255.04M. Shares of Silicon Image are down about 32% to $4.60 in pre-market trading after the company cautioned on its mobile outlook.
December 4, 2014
17:00 EDTSIMGSilicon Image announces new unit Qterics, Qualcomm participates with investment
Silicon Image (SIMG) announced that Qualcomm (QCOM), has made a $7M strategic investment in Silicon Image’s new subsidiary, Qterics, for a 7% ownership interest. Qterics will be focused on enabling a wide variety of solutions and services for Internet-enabled consumer products including TVs, mobile handsets, tablets, routers, home automation devices, white goods and more. Qterics is comprised of the UpdateLogic services business combined with other related Silicon Image assets, including software and other intellectual property. Current UpdateLogic General Manager, Kurt Thielen, will assume the role of President of Qterics. “Qualcomm is committed to enabling technologies that support our ‘Internet of Everything’ initiatives. Our strategic investment in Qterics further promotes IoE advancements, including the development of solutions utilizing the AllJoyn open source software framework of the AllSeen Alliance for a truly interoperable Internet of Everything,” said Michael Wallace, SVP and General Manager, Qualcomm Internet Services. In addition to the investment, Qualcomm and Silicon Image will explore opportunities to collaborate on promoting the AllJoyn open source software framework and developing new Internet of Everything services
14:49 EDTSIMGSilicon Image management to meet with Craig-Hallum
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13:21 EDTSIMGSilicon Image management to meet with Sidoti
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