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Hey S2
Your old pick DIVX is showing signs of life after
hybernating in the 5's for more than a 1.5 years
RIM 3Q profit up 59 pct on record BlackBerry sales
BlackBerry maker Research In Motion 3Q profit rises 59 percent as sales hit record
Buzz up! 1 Print..Companies:Apple Inc.Motorola Inc.Palm, Inc..
AP - FILE - In this Nov. 10, 2009 file photo, the BlackBerry Storm2 for Verizon is shown in San ...
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{"s" : "aapl,mot,palm,rim.to","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Rob Gillies, Associated Press Writer , On Thursday December 17, 2009, 8:59 pm EST
TORONTO (AP) -- BlackBerry maker Research In Motion Ltd. surprised Wall Street on Thursday as it reported a 59 percent increase in third-quarter income, boosted by new subscribers and record sales of its smart phones.
More than 80 percent of the Canadian company's new subscribers were non-corporate customers, a sign of the BlackBerry's popularity among consumers amid intense competition from devices such as Apple Inc.'s iPhone, Palm Inc.'s Pre and Motorola Inc.'s Droid.
Shares surged more than 12 percent in after-hours trading.
After initially focusing on corporate customers, RIM has expanded its reach into the consumer market in recent years with such touch-screen models as the BlackBerry Storm. Two years ago, half of RIM's new subscribers were business customers. In the third quarter, they made up less than a fifth.
"The consumer side is growing real fast," co-Chief Executive Jim Balsillie said on a conference call with analysts. "It's not like this isn't a competitive space with big companies trying to do well and yet we're No. 1."
RIM sold more than 10 million BlackBerry phones during the third quarter, beating the previous record of 8.3 million, set during the second quarter. By contrast, Apple shipped 7.4 million iPhones in the most recent quarter.
"This shows that RIM is as popular a device as it's ever been, selling more units than its largest competitor," said Duncan Stewart, director of research and analysis at DSam Consulting.
RIM is known for its popular messaging phones that some can't live without. Before he took office, President Barack Obama lobbied successfully to keep his BlackBerry despite security concerns.
But among investors there has been fears about RIM's future in recent months as the stock dropped more than 25 percent after its last earnings report. The BlackBerry's Web browser and phone apps are perceived to be less stellar than the iPhone's. Apple's stock has soared in recent months.
Verizon, a U.S. carrier estimated to represent about 28 percent of RIM revenue last quarter, recently launched a massive marketing campaign for Motorola's Droid smartphone. Verizon has historically heavily marketed the Blackberry device.
Balsillie acknowledged Verizon is an important strategic partner.
"You can't force love," he said. "Some carriers are feeling quite concerned about how they maintain their relevance. We like to be an agent of that relevance for them."
Balsillie said RIM had its strongest quarter ever for growth outside of North America with 37 percent of revenue coming from overseas and approximately 35 percent of the BlackBerry subscriber base now located outside of North America.
He announced a partnership with China Telecom, a week after reaching a similar deal with China Mobile. He said RIM is considering China for manufacturing and research and development opportunities.
Balsillie reiterated that 100 percent of the handhelds sold one day will be smartphones.
IDC Canada analyst Kevin Restivo said RIM's results underscore the shift from cell phones to smartphones.
"The worldwide smartphone opportunity remains huge -- RIM continues to capitalize on it," Restivo said.
RIM's better-than-expected report comes as BlackBerry users in North America faced delays in receiving e-mail on their devices Thursday. RIM said that technicians isolated and resolved the issue and that it is investigating the cause.
Users were still able to make phone calls, browse the Internet and send and receive text messages. RIM didn't say how many users were affected or how long the outage lasted. RIM said some customers may still experience delays as e-mail queues are processed.
RIM, which is based in Waterloo, Ontario, said Thursday that it earned $628.4 million, or $1.10 per share, in the quarter that ended Nov. 28. That compares with $396.3 million, or 69 cents per share, in the same quarter a year earlier.
Revenue was up 41 percent to $3.92 billion from $2.78 billion last year.
The company's performance surpassed the expectation of analysts polled by Thomson Reuters, who were expecting net income of $1.04 per share and revenue of $3.78 billion.
Peter Misek, an analyst with Canaccord Adams, said RIM exceeded expectations throughout, and worries among media and analysts were unfounded.
"It continues to execute strongly," Misek said. "They significantly exceeded all metrics."
RIM said fourth-quarter revenue is expected to be in the range of $4.2 billion and $4.4 billion, beating analysts' expectation of $4.1 billion. The company also said gross margin is expected to be at 43.5 percent and earnings per share in the range of $1.23 to $1.31 per share.
Shares jumped $7.75 to $71.21 in after-hours trading Thursday. Before the release of results, shares dropped $1.21, or 1.9 percent, to close at $63.46.
What's Behind the Texas Instruments Disappointment
Bob Faulkner Dec 09, 2009 8:45 am
The problem wasn't demand, but a miss-match between demand and inventory.
Few things are more disappointing then when something doesn't live up to
expectations. If there was a lot of anything going into last night's mid-quarter
update from Texas Instruments (TXN), it was expectations. And why not? Over the
last few weeks we've had a fairly steady stream of semiconductor companies raise
guidance for their December quarters as demand proves to be better than
anticipated.
To be clear, Texas Instruments raised the midpoint of its prior guidance from
$2.90 billion to $2.96 billion. Nothing wrong with that, but it wasn't enough.
The Street was clearly looking to see the top end of the revenue range ($3.02
billion) bumped up as a signal that demand was stronger than anticipated. Alas,
the Street was disappointed and the stock fell in after-hours trading.
But there's more here than meets the eye and, as an investor, you should be
aware of what's going on beneath the surface. The demand is there but the
company wasn't able to deliver.
If I'm a customer and placed an order with Texas Instruments today, if it
weren't in inventory, I'd have to wait until early March to get it. That's about
how long it takes to turn a bare silicon wafer into a finished part that's been
packaged and tested. That also shows why inventory is so important at
semiconductor companies -- particularly at those who specialize in analog
semiconductors.
The number of different analog parts is mind-boggling and most of those come
in an array of different package types. Consequently, you'll see that analog
semiconductor companies tend to run with inventories at levels significantly
higher than their pure digital cousins. More often than not, much of that
inventory will be retained as die banks, meaning the wafer has been processed,
cut into individual die, but not packaged and tested. This allows companies like
Texas Instruments a degree of flexibility when orders come in, particularly the
unanticipated upside that frequently happens at this point in the economic
cycle.
Texas Instruments' problem wasn't demand per se, but a miss-match between that
demand, its inventory, and its current configuration of assembly and test
equipment. Think of it like the mix-and-match game we all have to play with
batteries and toys on Christmas morning. But the difference here is that I can't
run out to 7-11 for the quick fix.
Let's say my customer needs more of part "X" in package "DD" than originally
expected. If I have it in finished-goods inventory, no problem. If I don't and
the two testers or assemblers that can handle package "DD" are busy, my customer
has to wait. I can order new equipment from Teradyne (TER) or Kulicke & Soffa
(KLIC) but the chance of them having what I need in "inventory" isn't very high.
Even if it was, I'll have to run the equipment through an acceptance process.
Texas Instruments brought in additional assembly and test equipment this
quarter and will again over the next two quarters. Obviously, it wasn't soon
enough.
The bottom line here is that this is an execution issue, not one of demand.
Texas Instruments perceived "disappointment" isn't a signal that the semi-cycle
is over before it's started. It's just a bump in the road and there will be many
more along the way. The devil is always in the details so study them to find out
what's really going on before you decide to jump either way.
Texas Instruments Inc. pointed to improving business conditions in the current
quarter, the latest chip maker to benefit from an economic rebound that appears
to be spreading to multiple sectors.
The Dallas-based company said it now expects revenue will fall in the upper end
of a range it gave in October, setting a mid-point that indicates growth of 19%
from a year ago. TI, as part of a regularly scheduled mid-quarter update, also
slightly raised its estimated range for earnings per share.
Ron Slaymaker, a TI vice president and head of investor relations, said the
company had experienced a "rapid and unprecedented" increase in demand over the
last few quarters. As a result, he said, the time necessary for the company to
fill orders is getting longer.
"Demand does continue to exceed supply of our components," Mr. Slaymaker said
during a conference call.
TI's comments follow upbeat remarks from Xilinx Inc. The Silicon Valley company,
which makes chips that customers program to perform specific chores, said it now
expects revenue in the fiscal third period ending Dec. 26 to rise 16% to 20%
from the second period, compared with an earlier estimate of 6% to 10% growth.
Xilinx also said it now expects its gross profit margin to be 64%, up from its
prior forecast of 62% to 63%.
Other chip makers that have recently reported or projected significant rebounds
in their business include Marvell Technology Group Ltd., Altera Corp. and
Microchip Technology Inc.
All of the companies sell chips for many different kinds of applications.
Xilinx's chips, for example, are found in aerospace equipment as well as
communications gear being purchased rapidly in countries such as China.
Moshe Gavrielov, Xilinx's chief executive, said Tuesday at a Barclays Capital
conference that the "ebb and flow" of orders from China come against the
backdrop of "a huge bubbling of business."
Mr. Slaymaker said TI, which has been shifting a greater proportion of its
business to analog chips rather than digital products, has experienced improved
demand from sectors that include computers, data-storage products, industrial
equipment and cars. "The growth is pretty diverse," he said.
TI said it expects fourth-quarter revenue to range from $2.90 billion to $3.02
billion, compared with a prior forecast of $2.78 billion to $3.02 billion. It
put earnings per share at 47 cents to 51 cents, compared to a prior range of 42
cents to 50 cents.
Marvell Technology target raised to $23 from $18 at Needham
Needham raised its target on Marvell as it finds the company's Q3 results and Q4 guidance "truly impressive." The firm notes that the company's margins improved and it reiterates a Buy rating on the stock. :theflyonthewall.com
Marvell Technology Group Ltd. Reports Fiscal Third Quarter Results
Revenue: $803.1 Million, Up 25 Percent Sequentially
GAAP Net Income: $201.6 Million, $0.31 per share EPS
Free Cash Flow: $195.9 Million, 24 Percent of Revenues
Download image SANTA CLARA, Calif., Dec. 3 /PRNewswire-FirstCall/ -- Marvell Technology Group Ltd. (Nasdaq: MRVL), a world leader in storage, communications and consumer silicon solutions, today reported financial results for the third quarter of fiscal 2010, ended October 31, 2009.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070411/SFW034LOGO)
Net revenue for the third quarter of fiscal 2010 was $803.1 million, a 25 percent sequential increase from $640.6 million in the second quarter of fiscal 2010, ended August 1, 2009, and a 2 percent increase from $791.0 million in the third quarter of fiscal 2009, ended November 1, 2008.
GAAP net income was $201.6 million, or $0.31 per share (diluted), for the third quarter of fiscal 2010, as compared to GAAP net income of $58.5 million, or $0.09 per share (diluted), for the second quarter of fiscal 2010. For the third quarter of fiscal 2009 GAAP net income was $70.9 million, or $0.11 per share (diluted).
Non-GAAP net income was $231.8 million, or $0.35 per share (diluted), for the third quarter of fiscal 2010, an increase of 95 percent from non-GAAP net income of $118.7 million, or $0.18 per share (diluted), for the second quarter of fiscal 2010, and a 59 percent increase compared with non-GAAP net income of $145.3 million, or $0.23 per share (diluted), for the third quarter of fiscal 2009.
"We are very pleased with the revenue growth we experienced in the third quarter of fiscal 2010," said Dr. Sehat Sutardja, Marvell Chairman and Chief Executive Officer. "Our sequential revenue growth was better than our revised guidance provided on October 26, 2009, as order momentum improved across all our addressable end-markets. Our results during the third quarter demonstrate that financial discipline is firmly entrenched in Marvell's long-term business model as we again delivered significant improvement across all financial metrics."
Marvell reports net income or loss, basic and diluted net income or loss per share in accordance with U.S. generally accepted accounting principles (GAAP) and on a non-GAAP basis as outlined below. Reconciliations of GAAP net income or loss to non-GAAP net income for the three months ended October 31, 2009, August 1, 2009 and November 1, 2008, respectively, appear in the financial statements below.
GAAP gross margin for the third quarter of fiscal 2010 was 57.5 percent, compared to 55.0 percent for the second quarter of fiscal 2010 and 52.1 percent for the third quarter of fiscal 2009. Non-GAAP gross margin for the third quarter of fiscal 2010 increased to 57.8 percent, compared to 55.3 percent for the second quarter of fiscal 2010 and 52.3 percent for the third quarter of fiscal 2009.
Shares used to compute GAAP net income per diluted share for the third quarter of fiscal 2010 were 660 million shares, compared with 648 million shares in the second quarter of fiscal 2010 and 631 million shares in the third quarter of fiscal 2009. Shares used to compute non-GAAP net income per diluted share for the third quarter of fiscal 2010 were 664 million shares, compared with 652 million shares for the second quarter of fiscal 2010 and 633 million shares for the third quarter of fiscal 2009.
Cash flow from operations for the third quarter of fiscal 2010 was $203.5 million, up 12 percent sequentially from $182.3 million in the second quarter of fiscal 2010 and down 21 percent from $258.5 million in the third quarter of fiscal 2009. Free cash flow, defined as cash flow from operations less capital expenditures and purchases of IP licenses, was $195.9 million, up 12 percent sequentially from $175.3 million in the second quarter of fiscal 2010 and down 20 percent from $244.3 million in the third quarter of fiscal 2009.
Q3 smartphone sales
http://www.pdasnews.com/articles/gartner-q3-2009-smartphone-sales-figures.html
Smartphones continued to represent the fastest-growing segment of the mobile-devices market and we remain confident about the potential for smartphones in the fourth quarter of 2009 and in 2010,” said Ms Milanesi.
Nokia’s share of the worldwide smartphone market reached an all time low in the third quarter of 2009 at 39 per cent, compared with 45 per cent in the second quarter of 2009 (see Table 2). This decline caused Symbian to lose ground too, while Research In Motion reached 20 per cent share, its highest yet. RIM’s sales volumes rested on the Curve 8900 in Europe and the Tour and Storm 2 with Verizon Wireless in the US. RIM also focused on pre-paid sales and more flexible BlackBerry Internet Service offerings, which helped to drive volumes in emerging markets like Latin America.
Apple’s worldwide smartphone share reached 17 per cent as iPhone sales totalled 7 million units in the third quarter of 2009 following the continued rollout of the iPhone 3GS in new countries. Its ASP is holding steady and sales in the fourth quarter should be even stronger as Apple starts selling in China, through one additional carrier in the UK, and in an additional 16 countries.
In the smartphone operating system (OS) market,Android picked up momentum but with only a handful of Android devices available, its share remained modest at 3.5 per cent. Windows Mobile 6.5 only became available in October, too late to have an impact on the third quarter, so sales of Windows-based smartphones saw another decline.
"Manufacturers should work to differentiate their user interfaces by creating distinct ways of organising users’ information and services," said Roberta Cozza, principal analyst at Gartner. “However, they need to be careful to maintain application compatibility.”
“Mobile phone vendors must invest in their smartphone portfolios to benefit from the fastest-growing segment of the market and that which is most resistant to low ASPs,” Ms Milanesi said. “They should also focus on winning developers and carrier support which will both attract users.” via allaboutsymbian.com
“It’s just a reversal of excessive pessimism,”
SP to 1300
http://www.bloomberg.com/apps/news?pid=20601087&sid=ak7b2m.b1v7A&pos=7
3Q09 chip growth sets stage for 22% surge in 2010, says Future Horizons
Press release; Jessie Shen, DIGITIMES [Wednesday 4 November 2009]
Chip sales hit US$24.0 billion in September, heralding a 20% quarterly increase
on third-quarter 2009, according to Future Horizons. The UK-based research firm
has raised its forecast for the 2009 chip market to a 10% drop versus an earlier
estimate of minus 14%.
"We now see the market declining only 10% over 2008, a truly remarkable recovery
considering the abyss we were staring into just this time last year. September's
sales were even higher than our optimistic best expectations. This recovery now
has a momentum of its own," commented Malcolm Penn, chairman and CEO at Future
Horizons.
The market rebound started at the end of the first quarter, with the second
quarter coming in at 17% sequential growth, Future Horizons said. With the third
quarter now up a further 20% and fourth-quarter market guidance in the 5% to 7%
range, the 2009 market is set to close out at between US$220-225 billion.
"Psychologically this ought to give everyone a shot in the arm but instead
there's a strange air of disbelief and denial in the air," said Penn. "The fact
of the matter is no-one believes anything any more; I wish, really wish I was
back running a chip division again. The competition's so befuddled you could
walk all over anyone without even trying."
The big question when the second quarter's results were announced was: "Is this
the start of the chip market recovery or merely a blip on the chip statistics
radar screen?" Driven by the bean counters and financial community, most CEOs
took the latter view and path of least resistance and continued to downsize,
Future Horizons indicated.
Commenting on some of the other underlying issues, Future Horizons believes that
the normal dynamics following any market collapse are (Phase 1) over-reaction,
cutting back production and inventories too far; (Phase 2) a correction phase to
rebalance over-depleted inventories; and (Phase 3) a resumption of demand-driven
orders.
Phase 1 kicked in last September with the Lehman Bros collapse, with Phase 2
starting in March 2009. The industry is now firmly and clearly in Phase 3 of the
recovery cycle, in line with Future Horizons' January 2009 forecast. "The only
difference between our earlier forecast and reality is that the recovery is
coming in stronger than even we dared to predict," said Penn.
Looking ahead to 2010, Future Horizons believes growth will be 22% up on 2009,
just based on benign 'normal' quarterly growth patterns, dramatically ending a
five-year 'zero-growth' period, without taking into effect any recovery in the
world economy or price increases due to product shortages and lack of wafer fab
capacity. That would mean a US$272 billion market, well in excess of the 2007
peak (US$256 billion).
"A 20%-plus growth year will nail the coffin of the 'chip growth is over'
merchants of doom, especially when 2011 is likely to be even stronger still,"
Penn continued. "This industry's not changed one iota and market trends are
still not based just on rational decisions but emotional ones as well. It is
this that creates new market opportunities."
Hard drives still selling...
Western Digital, citing surging demand for hard drives, posts 1st-quarter profit increase
On 5:50 pm EDT, Thursday October 22, 2009
Buzz up! 0 Print.Companies:Western Digital Corp.
LAKE FOREST, Calif. (AP) -- Disk drive maker Western Digital Corp. is cashing in on the rising popularity of social media with its fiscal first-quarter profit surging on rising demand for hard drives.
Australia court allows claims against Lehman
Mon Sep 28, 2009 1:32am EDT
SYDNEY (Reuters) - An Australian court has ruled that local governments can pursue financial claims against collapsed U.S. investment bank Lehman Brothers in Australia and elsewhere, a firm that is funding the litigation said on Monday.
IMF (Australia) Ltd (IMF.AX) said the Federal Court ruled on Friday in favor of town councils and others which had lost money in collateralized debt obligations marketed and issued by Lehman, opening the door to legal claims to recover their losses.
"The full court found against the validity of a Deed of Company Arrangement which had the effect of preventing the councils and others from pursuing claims against various Lehman entities in Australia and elsewhere and from pursuing payment under various insurance policies," IMF said in a short statement.
"IMF will now fund those councils and other parties in litigation to recover monies lost when they invested in collateralized debt obligations arranged, issued and promoted by those Lehman entities."
Lehman's estate is facing a slew of claims from creditors worldwide, including bondholders, derivatives counterparties, states, towns and individuals.
Administrators of the London arm of Lehman Brothers said last month the claims it is handling against the collapsed Wall Street bank could total as much as $100 billion.
Lehman's demise a year ago brought the global financial system to the brink of collapse and accountants and lawyers expect to have to work for years to sort out billions of dollars worth of assets left locked in its accounts.
About 35 councils in Australia invested A$25 million ($22 million) in Federation CDO, a long-term, synthetic instrument based upon a list of 40 residential mortgage-backed securities linked to the U.S. sub-prime market, financial magazine the Government News said in a report in April.
(Reporting by Mark Bendeich and Cecile Lefort; Editing by Jonathan Standing)
Seagate announces another green shoot for the PC/laptop market. Demand stronger than expected.
Seagate Updates Fiscal First Quarter 2010 Financial Outlook
* Press Release
* Source: Seagate
* On Tuesday September 22, 2009, 4:01 pm EDT
SCOTTS VALLEY, Calif., Sept. 22 /PRNewswire-FirstCall/ -- Seagate Technology (Nasdaq: STX - News) today announced an update to its expected financial results for its first fiscal quarter of 2010, which ends October 3, 2009.
Overall industry demand for hard disk drives continues to strengthen. As a result, the total available market (TAM) for the September quarter is anticipated to be greater than the 135-140 million units originally expected while the TAM for the December quarter is now projected to be 145-155 million units.
For its first fiscal quarter, Seagate now expects revenue to be at or slightly above the high end of its original guidance of $2.4-$2.6 billion. In the event OEM demand is stronger than we anticipate during the last two weeks of the quarter, as occurred last quarter, revenue for the first fiscal quarter could be greater than our revised guidance. As a result of our rapid transition to market leading notebook and desktop products, as well as improving factory efficiencies and utilization, gross margin as a percent of revenue is now expected to be approximately 23-24%.
Seagate believes disk drive inventory in all channels continues to be at appropriate levels, with supply in balance with demand.
The demand and pricing environment during the remaining weeks of the quarter will be key factors in determining the operating results for the first fiscal quarter of 2010.
http://finance.yahoo.com/news/Seagate-Updates-Fiscal-First-prnews-2598947860.html?x=0&.v=1
Told you it was a pump and dump
Sept. 22, 2009, 5:42 a.m. EDT · Recommend · Post:
Samsung ups chip output to meet improving demandStory
Quotes
Comments Screener (1) Alert Email Print ShareBy Jessie Ho
TAIPEI (MarketWatch) -- Global demand for semiconductors is better than Samsung Electronics Co.'s previous expectations, and the company is increasing chip production to meet the demand, the president of the company's chip division said Tuesday.
Oh-Hyun Kwon attributed the improved demand to companies replenishing chip inventories and stronger sales supported by government stimulus packages.
Demand for double-data-rate-three dynamic random access memory chips used in personal computers is very strong, Kwon said at a news conference in Taipei, where the South Korean electronics giant is holding a forum on the mobile phone industry.
DDR3 chips are faster and more energy efficient than their predecessor DDR2 chips.
Samsung is now boosting production of DDR3 chips and expects to help end a shortage of the chips, he said.
Contract prices of DRAM chips have been increasing sharply since April. The average contract price of the mainstream 1-gigabit DDR2 chip that runs at 667 megahertz hit US$1.66 for the latter part of September, the highest level in a year, according to data from Taipei-based online chip clearinghouse DRAMeXchange.
DRAM prices are returning to "reasonable" levels now after previous sharp falls due to aggressive capacity expansion by manufacturers, Kwon said.
But he declined to give the company's pricing plans. Samsung's smaller rival Hynix Semiconductor Inc. said Tuesday the recent upward trend in DRAM prices is likely to continue due to robust PC sales and tight supply.
But Kwon also sounded a cautious note and said the sustainability of demand will depend on how sales during the Thanksgiving holiday season in late November turns out.
The executive said Samsung is boosting output by upgrading production technologies at its existing production lines instead of investing in capacity expansion. But the company will build new plants to meet demand if needed, he added.
In late January, Samsung said its combined capital expenditure this year on its memory chip and liquid-crystal-display panel operations will likely be between KRW3 trillion and KRW4 trillion. That compares with the more than KRW10 trillion the company allocated for memory chips and LCDs in 2008.
The company said in late July it planned to increase its capital expenditure in the second half compared with the first half, without disclosing specific figures.
JPM to bail out FDIC
What a joke, but could soon be reality
http://www.nytimes.com/2009/09/22/business/22bailout.html?_r=3&sq=fdic&st=cse&adxnnl=1&scp=2&adxnnlx=1253616299-EGme9Nv85piPGMtyThLe4w
Get ready for the DUMP !!
It's coming !!!!!!!!!!
Nice call...LOL ! guess you need to sharpen those chart reading skills eh ?
Posted by: rambos_10 Date: Tuesday, July 07, 2009 3:44:50 PM
In reply to: None Post # of 21757
Was it the cloner guy who said DOW is going up
watch it go to mid 7500
apparently he cant read charts
It was from theflyonthewall
http://stage.theflyonthewall.com/entry.php
Short tidbits of the days news
And yes, it's frustrating to see it hit 2 bucks, but before the spike it dropped into the 0.50's and who knows how I would have reacted on that. So not that bitter about it.
Recommendations story about FNM, FRE
FBR attributes the recent run-up in shares of Fannie Mae (FNM) and Freddie Mac (FRE) to speculation that a reverse stock split will take place, but points out that both companies' management teams are not in favor of such a move. FBR believes there is no fundamental value remaining in Fannie and Freddie, particularly since the government owns 80% of each company, and reiterates Underperform ratings on both stocks. :theflyonthewall.com
Yes he is
"Order patterns have improved substantially," Chief Financial Officer Clyde Hosein said in an interview with Reuters.
"Demand for a lot of consumer devices seems to be picking up from six months ago, both in the U.S. and non-U.S., particularly non-U.S. That has picked up substantially since the April time frame and continues to improve or maybe accelerate."
If a settlement was forthcoming the media would be all over this, but I hardly see any news coverage ?
Why ?
Come on.. if this was such a done deal as everyone seems assume, the SP wouldn't be sitting at 10cents. It would be more like 1-2 dollars.
Must be a great deal of uncertainty surrounding the legal proceedings taking place
What's holding the SP down ?
The semiconductor equipment industry is bouncing back after a severe drop in orders. New fab activity, after falling to almost zero by the end of 2007, also is beginning to grow, and could hit $8B in the third quarter.
George Burns, President, Strategic Marketing Associates -- Semiconductor International, 7/30/2009
After many long months of gloom and declining sales, the semiconductor equipment industry is on the way up. The worst year in the industry's history is over. Recovery time is here.
The three-month moving average of semiconductor equipment orders, which had fallen continually since January of 2008 increased by 9% in March-the first growth in 15 months. This is only the beginning and by July, equipment sales, as well as orders, will be growing too. The U.S. economy has turned around and the Chinese economy is on the way to grow 8% this year. These macroeconomic trends are already having a dramatic effect on chip sales.
On the company level, for example, TSMC, STMicroelectronics and Texas Instruments report growth in sales from their China markets. For the industry as a whole, the semiconductor industry's trade group, the SIA, reports sales were up in both March and April (the latest months for which data is available as we write). The three month moving average of chip sales, which had been falling steadily for six months since the financial crisis hit the U.S. and world economies last October, grew by 3.5% in March and by a very strong 6.2% in April. April's growth this year was the strongest April that chip makers have posted in more than a decade. It is the second strongest April since 1991[/b}.>>
For the rest of the article, with chart see:
http://www.semiconductor.net/article/325990-Recovery_Arrives_After_Severe_Downturn.php
Rambos has totally missed out on the rally we've had since
march, so perhaps you should take his pessimism with a grain of salt. Economy is cyclical as history clearly shows, but all Rambos does is babble on about how crooked the bankers and politicans are and how big the debt is and how screwed the american consumer is... bla bla.. The dude probably doesn't believe in the moon landings and thinks 9/11 was a covert op carried out by Mossad/CIA...
That said, I'd be careful going long at this point. Markets probably setting up for a correction soon. I'm slowly taking some profits off the table .. Looking at sep/oct for re-entry point.
Utter stupidity to short tech
Don't listen to Bimbo. He has no clue how economic cycles work.
TSMC, UMC see good order visibility for networking, handset chips, sources say
24 July 2009]
Atheros, Realtek Semiconductor and Qualcomm have seen strong demand for networking and handset chips, driving order volumes at Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC), according to industry sources. Order visibility at both foundries has extended to the fourth quarter, the sources noted.
Additionally, UMC has offered price discounts, which is attracting more orders and helping the company maintain an over 80% utilization rate through October, added the sources.
Atheros has forecast a 15-20% revenue growth in the third quarter thanks to strong demand for Wi-Fi chips used in notebooks, netbooks, as well as portable consumer electronics products. Atheros has received orders from Intel, which is expected to benefit its foundry partner TSMC, indicated the sources.
Taiwan networking chip designer Realtek Semiconductor is also enjoying orders released by Intel, and the company's products are manufactured at both TSMC and UMC, the sources added.
Taiwan companies IC Plus, Davicom Semiconductor, TrendChip Technologies and Ralink Technology all have reported outstanding results for June and expect a strong growth momentum in the third quarter, the sources said.
In addition to the networking segment, Qualcomm and MediaTek are also optimistic about smartphone chip demand from emerging markets and will continue to increase orders to their foundry partners, added the sources
He's losing his shirt on his BRCM short...
Don't worry. No one listens to an idiot who has a picture of Peter Schiff hanging over his bed ..
We're in a bull market wether you like it or not
How's that BRCM short doing ?
STX raises guidance
How's your short trade in BRCM doing ? Was it at $22 you got in ?
Is the Bluetooth transceiver MRVL ?
Says CSR on the chip no ?
MasterCard lost more than half of a $59 billion portfolio of former Washington
Mutual Inc. debit-card users to rival Visa Inc. because the lender failed last
year, triggering the takeover of the Seattle-based firm's assets, McWilton said.
"If WaMu hadn't gotten involved as heavily as they had in the subprime mess and
weren't taken over into receivership by the federal government, we would still
have Washington Mutual as a very strong and well-served and happy debit
customer," McWilton said.
Recommendations story about MRVL from Deutsche Bank
Deutsche Bank believes Marvell will report Q1 results toward the high end of its guidance and key customers reported better than expected results and increased guidance. The firm maintains a Buy rating on the stock
I bailed 2 weeks ago when it briefly hit 90 cents.
Took a 5c a share loss
Just too much uncertainty surrounding this stock
This might not have any interest to you guys, but
it was interesteing to see KLIC raise guidance.
KLIC, albeit being a small company, has often been used as an indicator of how business is doing in the tech sector
Kulicke & Soffa Increases Revenue Outlook for Third Fiscal Quarter of 2009
On Monday May 18, 2009, 4:31 pm EDT
FORT WASHINGTON, Pa.--(BUSINESS WIRE)--Kulicke & Soffa Industries, Inc. (NASDAQ:KLIC - News) (“K&S”) today announced that the Company has raised its revenue outlook for its fiscal third quarter ending June 27, 2009. The Company now expects net revenue for the third fiscal quarter to be in the range of $40 to $45 million, an increase from the previously forecasted range of $32 to $37 million.
Scott Kulicke, Chairman and Chief Executive Officer, commented, “The increase in customer activity that we saw near the end of our second quarter of 2009 is continuing into our third quarter. Improvement is being seen across all areas of our business, particularly in expendable tools and ball bonders.”
Fannie and Freddie in 'critical' condition
Regulator says companies still suffer from severe operational and financial weaknesses. Recruiting executives also tough.
Last Updated: May 18, 2009: 4:08 PM ET
ROAD TO RESCUE
Emergency small business loans coming in June
Fannie and Freddie in 'critical' condition
Homes: Most affordable in 2 decades
Bank of America now a 'buy'
High court to review accounting board case
Bailout tracker
The government is engaged in a far-reaching - and expensive - effort to rescue the economy. Here's how you can keep tabs on the bailouts. More
NEW YORK (CNNMoney.com) -- Fannie Mae and Freddie Mac, charged with helping lead the nation out of its housing crisis, are facing "critical" financial problems, federal regulators said Monday.
The companies suffer from severe financial, operational and compliance weaknesses, the Federal Housing Finance Agency said a report to Congress detailing its annual examinations of the firms. Taken over by the government in September, Fannie and Freddie are not able to operate without federal assistance.
"With new senior management teams, each enterprise has made strides in remediating problems," the agency said. "But they still face numerous significant challenges including building and retaining staff and correcting operational and credit management weaknesses that led to conservatorship."
Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) play a vital role in the national housing market, accounting for a combined share of 73% of mortgage originations in the second half of 2008. They also serve central roles in the Obama administration's foreclosure prevention plan.
To continue functioning, the firms have drawn down about $60 billion of their combined $400 billion lifeline from the federal government. Fannie reported a $23.2 billion quarterly loss and Freddie a $9.9 billion quarterly loss earlier this month.
One hurdle to putting Fannie and Freddie back on firm financial footing is the many vacancies in their executive ranks. Hiring has been slowed by compensation concerns, the agency said.
While the housing meltdown prompted the companies' near collapse in 2008, this year will also be difficult. Fannie Mae will face challenges as it works with servicers to help troubled borrowers and to manage and sell a growing inventory of foreclosed properties, the agency said. Freddie Mac, meanwhile, needs to improve its internal controls and find a chief executive officer.
"The problems of the last two years in the financial markets are slowly abating, but the challenges in the housing markets continue," said James Lockhart, the agency's director.
First Published: May 18, 2009: 4:04 PM ET
http://money.cnn.com/2009/05/18/news/economy/fannie_freddie_critical/index.htm?postversion=2009051816
YIKES ! huge losses
Fannie Mae seeks $19B in US aid after 1Q loss
after posting $23.2 billion 1st-quarter loss
On Friday May 8, 2009, 8:53 am EDT
WASHINGTON (AP) -- Fannie Mae says it needs $19 billion in additional government aid after posting a loss of $23.2 billion in the first quarter as the taxpayer bill from the housing The mortgage finance company, seized by federal regulators last September, posted a quarterly loss of $4.09 per share on Friday. That compares with a loss of $2.5 billion, or $2.57 a share, in the year-ago period.
The results were driven by $20.9 billion in credit losses due to declining housing market conditions and $5.7 billion in writedowns of the value of its mortgage-backed securities.
The request for federal aid is its second since the takeover. The company received about $15 billion earlier this year.
Wait until we see what the payroll numbers are
If they're not improving I think we'll see another selloff
Just briefly hit the dollar in premarket
GO FNM !!