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AMERICAN BULLS: STAY LONG, LAST PATTERN, BEARISH HARAMI
Signal Update :Tomorrow.
Our system’s recommendation today is to STAY LONG. The previous BUY recommendation was issued on 06/08/2014, 7 days ago, when the stock price was 10,6899. Since then UNTD has risen by +12,82%.
Market Outlook
Candlesticks warned us today to be on alert with a new bearish pattern. Market attention is now on the downside. Based on this pattern, in response to emerging market bearishness the system established new confirmation and stop loss levels. The signal tells us to STAY LONG, but the chance of a bearish confirmation that will change the signal to SELL is very high. The Delayed Intraday Module is ON. Given the risks involved, we strongly suggest you to follow price movements on an intraday basis. Less
PBR:Emerging Markets Evening Read,Barron's Blog
5:50p ET August 13, 2014 (Dow Jones)Barron's Blog
By Dimitra DeFotis
It was a day pockmarked with more conflict in the Middle East and Russia, and tragedy in Brazil.
A plane crash near Sao Paolo, Brazil killed presidential candidate Eduardo Campos, fueling a market selloff there.
Tensions escalated as Russia's convoy of humanitarian aide gets closer to Ukraine. Central and eastern European economies are the most vulnerable to the ongoing turmoil and resulting sanctions, given the volume of their Russian energy imports, writes Shweta Singh, a senior economist at Lombard Street Research. Turkey is next most vulnerable. With one of the biggest account deficits among emerging markets, it is more affected by rising energy prices and hampered exports, plus it has some risk tied to Russia's financial sector. More in Wall Street's Best Minds on Barrons.com (subscription required.)
Singh doesn't mention Greece, but its biggest trade partner is Russia. Sanctions against Russia are hampering export of Greek strawberries, peaches and other foodstuffs, and the malaise is expected to affect energy imports, as well as tourism to Greece from Ukraine and Russia, Bloomberg reports. Bottom line: recovery from a deep, multi-year recession will be that much tougher for Greece.
In India, inflation moved stubbornly higher, no thanks to the effect of monsoon rain on crop prices.
Broadly, the iShares MSCI Emerging Markets ETF ( EEM) was up 0.54% on the day.
The iShares MSCI BrazilCapped ETF ( EWZ) fell 1.45% was a big loser; Brazil's state-controlled energy company Petroleo Brasileiro ( PBR) tumbled 4.5%.
The Market Vectors Russia ETF ( RSX) and the iShares MSCI Russia Capped ETF ( ERUS) rose nearly 2% apiece.
The MSCI India ETF ( INDA) was up 0.7%.
regards.
United Online (UNTD) is in Overbought Territory: What's Next?
United Online, Inc. (UNTD) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because UNTD is now in overbought territory with an RSI value of 83.40.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet UNTD’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in United Online’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of UNTD’s prospects for the near term.
Over the past two months, investors have witnessed 1 earnings estimate revision lower compared to just none higher for the current year. The consensus estimate for UNTD has also been on a downward trend over the same time period too, as the estimate has fallen from $0.27/share two months ago to just $0.26/share today.
If this wasn’t enough, United Online also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth.
http://finance.yahoo.com/news/united-online-untd-overbought-territory-130416055.html
Petrobras is below its average of 50 days high. MA(50)$15.68 .Collapse begins!!
Now it fell below its average of 50 days high.
In the main chart
MA(50)$15.68
MA(200)$13.91(Low average of 200 days)
Maybe:$14.00 good Price to buy!
UNTD:Reports and Ratings:ResearchTeamTM, S&P, Ford Equity Research,Jaywalk Consensus
ResearchTeamTM: Reduce
Ford Equity Research: Hold
Jaywalk Consensus:Sell
S&P Capital IQ:S&P Quality Ranking: B- Standard & Poor's Fair Value Rank : NR
UNTD:Stock Rises 18%, August 13, 2014
United Online, Inc. (UNTD - Snapshot Report) was a big mover last session, as the company saw its shares rise nearly 18% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $9.74 to $10.69 in the past one-month time frame.
The company has seen one negative revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s jump lasts.
United Online currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
However, better-ranked stocks in the Internet services industry include Inuvo, Inc. (INUV - Snapshot Report), Baidu, Inc. (BIDU - Snapshot Report) and Borderfree, Inc. (BRDR). While Inuvo sports a Zacks Rank #1 (Strong Buy), Baidu and Borderfree have a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
http://www.zacks.com/stock/news/143687/united-online-untd-in-focus-stock-rises-18
UNTD:The main chart in shorted, RSI(14)82.39,Overbought in negative land!
Turning Point in fall: $10.37
Tomorrow may collapse. There are many short sales
Be carefull with the fall!
http://stockcharts.com/h-sc/ui?s=UNTD&p=D&b=5&g=0&id=p26099102557&a=264845671
Petrobras-linked money laundering probe spreads to banks
.
Aug 12 2014, 11:59 ET
Brazil's money laundering probe linked to state-run Petrobras (PBR -1.2%) is spreading to financial institutions as prosecutors investigate whether they met compliance requirements.
Court documents cite units of banks including Citigroup (NYSE:C), Banco Santander (NYSE:SAN) and HSBC, as well as Brazil-based Itau Unibanco (NYSE:ITUB) and Banco Bradesco (NYSE:BBD) as holding accounts or executing operations linked to the alleged laundering of 10B reais.
The refining division at Petrobras already is under investigation for runaway spending including alleged inflated contracts to suppliers, and is cited as one of the possible sources of cash being laundered in the case dubbed “Car Wash” by police. Less
http://seekingalpha.com/news/1926995-petrobras-linked-money-laundering-probe-spreads-to-banks?uprof=44
Why Petrobras (PBR) Stock Is Down Today
NEW YORK (TheStreet) -- Shares of Petrobras-Petroleo Brasilier (PBR_) are down -1.03% to $16.29 this morning as a $4.4 billion money laundering investigation linked to the state-run oil and gas company is spreading to financial institutions as prosecutors check whether they met compliance requirements, Reuters reports.
http://www.thestreet.com/story/12842047/1/why-petrobras-pbr-stock-is-down-today.html?puc=yahoo&cm_ven=YAHOO
Brazil’s Petrobras: Tarred by corruption
http://www.ft.com/intl/cms/s/0/6d00da0c-1c7c-11e4-98d8-00144feabdc0.html#axzz3A9af6i00
PBR:Moody's: Transierra's ratings not affected by nationalization
Global Credit Research - 11 Aug 2014
Buenos Aires City, August 11, 2014 -- Moody's Latin America said that the Ba3/Aa1.bo ratings of Transierra S.A. remain unchanged following the recently announced nationalization.
On August 5, 2014 Transierra announced that Petrobras Bolivia Inversiones y Servicios S.A. (Petrobras) and Total E&P Bolivie -- Sucursal Bolivia (Total) had transferred their interest in the company to YPFB (Yacimientos Petroliferos Fiscales Bolivianos), within the Ley de Empresa Pública (Public Companies Law Framework).
The virtual nationalization of the company was completed by the transfer of 44.5% of the shares previously belonging to Petrobras and 11% belonging to Total (adding up to a 55.5% interest) to YPFB, the Bolivian state-owned oil and gas company. YPFB Andina will keep its 44.5% interest. Consequently, the Bolivian government will indirectly own 78% of Transierra through YPFB. The transaction price amounted to U$S 133 million.
This transaction has no impact on Transierra' Ba3/Aa1.bo ratings because its credit profile will continue to be supported by the company's sound business model, stable cash flows from capacity payments and strong credit metrics. In addition, the ratings will continue to be supported by the strategic importance of the pipeline to transport Bolivian gas to Brazil as outlined under the Bolivian-Brazilian bi-lateral gas supply agreement (GSA).
Transierra's Ba3 rating is at the same level of the sovereign and therefore ownership from YPFB, fully owned by the government, has no impact on current ratings.
For further information please see the ratings tab on the issuer/entity page on www.moodys.com
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
Daniela Cuan
Vice President - Senior Analyst
Infrastructure Finance Group
Moody's Latin America
Ing. Butty 240
16th Floor
Buenos Aires City C1001AFB
Argentina
JOURNALISTS: (800) 666 -3506
SUBSCRIBERS: (5411) 5129 2600
William L. Hess
MD - Utilities
Infrastructure Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Releasing Office:
Moody's Latin America
Ing. Butty 240
16th Floor
Buenos Aires City C1001AFB
Argentina
JOURNALISTS: (800) 666 -3506
SUBSCRIBERS: (5411) 5129 2600
http://investorshub.advfn.com/boards/post_new.aspx?board_id=10807
PBR:13:50:00HS GBM DOWNGRADES PBR TO MARKET PERFORMER, ACCORDING TO BLOOMBERG
TO KILL
PBR: Shares out. 3.7 bill. in year 2013. 2014, In the first half rose to 6.53 billion (DILUTION)
EPS this year fully diluted
We're talking almost double issue of shares in six months
Just start the second half. The more shares will emit?
Are papering with shares to Wall Street, hahaha!!
Petrobras Profit Misses Estimates as Crude Exports Slide
By Peter Millard Aug 8, 2014 10:00 PM ET
Petroleo Brasileiro SA (PETR4), the biggest oil producer in deep waters, posted an unexpected profit decline in the second quarter after its fuel imports surged and crude exports fell.
Net income fell 20 percent to 4.96 billion reais ($2.2 billion), or 0.38 reais a share, from 6.2 billion reais, or 48 centavos, a year earlier, the Rio de Janeiro-based company said yesterday in a statement. That trailed the 55-centavo average of 12 analysts’ estimates compiled by Bloomberg, making this the third time in four quarters that Petrobras missed forecasts.
Rising Brazilian demand for gasoline and diesel that Petrobras sells at a discount relative to international prices is leading the state-run producer to export less crude and increase refinery output. It cut sales to overseas markets by 14 percent from a year earlier, while the refining boost wasn’t enough to prevent a 56 percent surge in fuel imports.
The government, which controls Petrobras with a majority of voting shares, has prevented the company from increasing prices enough to erase import losses as it seeks to keep inflation in check.
The company’s fuel imports jumped to 407,000 barrels a day in the quarter, from 261,000 a year earlier. Daily crude exports fell to 308,000 barrels from 359,000.
“Brazil’s domestic pricing for gasoline and diesel, which has ranged between 10 percent and 20 percent below international pricing, depending on the exchange rate, puts a significant drag on Petrobras’s profitability,” Moody’s Investors Service said in a July 29 research report.
Shares Suffer
The fuel subsidy policies have weighed on the shares, which have lost investors 37 percent in the past four years, making it the worst performer of the 20 most valuable major oil producers, according to data compiled by Bloomberg.
“We are seeking convergence with international fuel prices in Brazil” to help meet the company’s internal financial targets, Chief Executive Officer Maria das Gracas Foster wrote in the earnings report. “I reassure investors and stockholders that the increasing production of oil, natural gas and derivatives, specially diesel and gasoline, is already a reality on a daily basis.”
The government probably won’t authorize a fuel price increase before elections in October, Eurasia Group said in a Aug. 6 note to clients.
More Spending
“The company will continue to spend cash and raise substantial amounts of debt through the end of 2015, until pre-salt production begins to generate significant cash flow in 2016-2017,” Moody’s said, referring to the deep-water reserves comprising the company’s largest discoveries.
Petrobras plans to boost domestic crude output 7.5 percent this year as it connects wells to production equipment in deep waters of the Atlantic. A combination of equipment delivery delays, unplanned maintenance at offshore platforms and faster-than-expected declines at the company’s legacy fields in the Campos Basin has left production nearly flat since 2010.
Analysts from Banco Santander SA and Banco Bradesco SA have warned that the slower-than-forecast expansion so far is putting this year’s goal at risk even though new wells and production vessels are expected to accelerate growth in the second half.
Investors aren’t counting on Petrobras meeting its targets this year, Eric Conrads, who helps oversee $500 million in Latin American stocks as a money manager at ING Groep NV, said. The stock has gained 13 percent this year on speculation the presidential elections in October will herald more investor-friendly policies.
http://www.bloomberg.com/news/2014-08-08/petrobras-profit-misses-estimates-as-crude-exports-slide.html
PBR: MONDEY, SHORT SELL, To Kill!! It may fall to $ 10.00 on Monday
PBR:Petrobras Net Profit Falls 20% -- Update 6:57:00 PM
6:57p ET August 8, 2014 (Dow Jones)
Petrobras Net Profit Falls 20% -- Update
By Paul Kiernan and William Connors
RIO DE JANEIRO--Brazilian state-controlled oil company, Petroleo Brasileiro SA said Friday its profit fell for a fourth consecutive quarter as it continues to grapple with the high cost of subsidizing fuel imports for the domestic market.
Second-quarter net profit declined 20% from a year earlier to 4.96 billion Brazilian reais ($2.17 billion), the company known as Petrobras said Friday.
Weighing on the company's bottom line was its refining division, which imports gasoline and diesel fuels and then sells them at below cost to help the Brazilian government battle inflation, a program the government started in 2011 and which has cost Petrobras billions of dollars.
Petrobras' imports of oil and derivatives surged 33% in the second quarter from a year earlier to 941,000 barrels a day. The refining division's quarterly loss ballooned to 3.88 billion reais, up 54% from the second quarter of 2013.
The fuel subsidy, combined with a massive investment budget, has turned Petrobras into the world's most indebted oil major. Net debt as of June 30 stood at $109.58 billion, up 16% from the end of 2013.
Petrobras said higher interest expenses and a weaker Brazilian real further ate away at its profits in the second quarter.
Earnings before interest, taxes, depreciation and amortization, or Ebitda, fell 10% on the year to 16.26 billion reais.
Revenues, on the other hand, rose 12% to 82.3 billion reais, Petrobras said, bolstered by rising production of crude oil. Second-quarter oil output reached 2.05 million barrels a day in July, up 6.4% from March.
Brazil aims to be among the world's top five global oil producers by 2020, when it expects to be producing four million barrels of oil a day. Petrobras reiterated its target of increasing oil production by 7.5%, plus or minus one percentage point, in 2014.
Petrobras Chief Executive Maria das Grac Less
PBR:Updated: Earnings Conference Call on 8/11/2014 8:00 am,Central Standard Time.
He finished the sweet wait
Top 5 Companies in the Thrifts & Mortgage Finance Industry with the Best Relative Performance (RDN, MTG, DRL, FNFG, AF)
Aug 08, 2014 (Fast Lane via COMTEX) -- Below are the top five companies in the Thrifts & Mortgage Finance industry as measured by relative performance. This analysis was compiled based on yesterday's trading activity as we search for stocks that have the potential to outperform.
Radian (NYSE:RDN) ranks first with a gain of 5.25%; MGIC Investment (NYSE:MTG) ranks second with a gain of 3.17%; and Doral Financial (NYSE:DRL) ranks third with a gain of 1.65%.
First Niagara Financial Group (NASDAQ:FNFG) follows with a gain of 0.36% and Astoria Financial (NYSE:AF) rounds out the top five with a gain of 0.08%.Radian Group Inc. provides financial guarantee insurance. The Company's products and services enable homebuyers to purchase homes more quickly and with smaller down payments, protect lenders against loan default, and lower the costs of mortgage origination and servicing. Radian also provides insurance and reinsurance to investors in corporate, municipal, and asset-backed securities.
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Financial News Network Online (FNNO) is a leading provider of digital financial news content for distribution on the web. You can count on FNNO to bring you the latest market news, earnings reports, analyst comments, economic data reports and more. Visit http://www.fnno.com today.
Copyright, Comtex News Network, Inc. 2014
RDN: Q2 EPS 78c vs 5c Beats 28c Est
Friday , August 08, 2014 06:30ET
QUARTER RESULTS
Radian Group (RDN) reported Q2 results ended June 2014. Q2 Revenues were $344.50M; +61.65% vs yr-ago; BEATING revenue consensus by +63.52%. Q2 EPS was 78c; +1,460.00% vs yr-ago; BEATING earnings consensus by +178.57%.
Q2 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $344.50M $213.12M +61.65% $210.68M +63.52%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 78c 5c +1,460.00% 28c +178.57%
---------- ------------ ------------ ---------- ------------ ----------
ORIGINAL EARNINGS RELEASE
Consensus estimate data provided by Reuters.
Visit Knobias.com for more indepth earnings information
Radian Group's (RDN) CEO Sanford Ibrahim on Q2 2014 Results - Earnings Call Transcript
http://seekingalpha.com/article/2396945-radian-groups-rdn-ceo-sanford-ibrahim-on-q2-2014-results-earnings-call-transcript?page=1
ANALYST RATINGS NETWORK:Consensus Price Target: $17.58 (37.91% upside )Until today!
Ratings Breakdown: 2 Hold Rating(s), 5 Buy Rating(s)
Consensus Rating: Buy (Score: 2.71)
Consensus Price Target: $17.58 (37.91% upside)
5/19/2014 Credit Suisse Boost Price Target Neutral $14.00 - $15.00
5/9/2014 TheStreet Upgrade Hold - Buy
5/8/2014 Susquehanna Reiterated Rating Positive $20.00 - $21.00
2/6/2014 FBR Capital Markets Boost Price Target Market Perform $15.00 - $17.00
12/5/2013 Goldman Sachs Initiated Coverage Outperform - Buy $17.00
11/5/2013 Keefe, Bruyette & Woods Reiterated Rating Outperform $17.00 - $18.50
9/17/2013 JMP Securities Initiated Coverage Outperform $17.00
-----------------------------------------------------------------------------------------------------------------------------------------
Until today. After Q2, now come the new recommendations and target.
regards Less
Sentiment: Strong Buy
Who owns Radian? Large banks and investment funds. Look! We are on track!!!!
Fund Name Number of Shares Share Valuation As Of
FMR 16.80M $252.57M March 31, 2014
BNP PARIBAS ARBITRAGE, SNC 11.53M $1.62B March 31, 2014
Paulson & Co 11.39M $171.14M March 31, 2014
Maverick Capital 11.21M $168.43M March 31, 2014
Vanguard 10.07M $151.42M March 31, 2014
Munder Capital Management 8.64M $127.98M June 30, 2014
T. Rowe Price Associates 7.38M $110.98M March 31, 2014
STATE STREET CORPORATION 6.32M $95.04M March 31, 2014
PUTNAM INVESTMENTS 5.32M $79.96M March 31, 2014
BlackRock Institutional Trust Company, N.A. 5.04M $74.66M June 30, 2014
DIMENSIONAL FUND ADVISORS 4.63M $69.53M March 31, 2014
BlackRock Fund Advisors 4.53M $67.07M June 30, 2014
Discovery Capital Management 4.47M $63.14M Dec. 31, 2013
SUSQUEHANNA INTERNATIONAL 4.46M $62.99M Dec. 31, 2013
GOLDMAN SACHS 4.46M $66.99M March 31, 2014
Regiment Capital Management 4.00M $24.44M Dec. 31, 2012
Ameriprise Financial 3.81M $57.19M March 31, 2014
Barclays 3.24M $19.78M Dec. 31, 2012
Columbus Circle Investors 3.23M $45.01M Sept. 30, 2013
Saba Capital Management 3.13M $47.04M March 31, 2014
Chartwell Investment Partners 3.04M $45.75M March 31, 2014
Rima Management 3.01M $41.95M Sept. 30, 2013
MORGAN STANLEY 3.00M $75.07M March 31, 2014
Millennium Management 2.90M $31.05M March 31, 2013
Vertex One Asset Management 2.80M $12.18M March 31, 2012
Soros Fund Management 2.79M $29.93M March 31, 2013
NORTHERN TRUST 2.70M $40.53M March 31, 2014
HAP Trading 2.51M $37.67M March 31, 2014
ALLIANCEBERNSTEIN 2.47M $28.74M June 30, 2013
Wellington Management Company 2.47M $5.78M Dec. 31, 2011
Clinton 2.45M $8.05M June 30, 2012 Less
RDN:last five minutes of trading, shares covered 566.095, Last 215,643 $13.42 15:59:59hs close market + 73,643 $13.42 16:08:10 after hour(Block)
.
The race against death. Example, a new target to $ 25 and short, die. Lose 100% of capital
The main chart, RSI(14)50.85,A beautiful cross candle, white color indicating, rise for tomorrow .
Unless explode a bomb, they can sleep peacefully. The main chart, very balanced.
regards.
http://stockcharts.com/h-sc/ui?s=RDN&p=D&b=5&g=0&id=p26099102557&a=264845671
The three indices fall (CHINA)
Be carefull,
IMF's China: Blind Men And The Elephant? by Cam Hui, CFA
This article was published on Thu, Aug. 7, 11:18 AM ET
http://seekingalpha.com/article/2395105-imfs-china-blind-men-and-the-elephant?isDirectRoadblock=false&uprof=44
Radian Group $8.29 Book Value Per Share at June . Short seller attack
7:01 (Dow Jones)
Be carefull, in fallen
Cascade Microtech's (CSCD) CEO Michael Burger on Q2 2014 Results - Earnings Call Transcript
Aug. 6, 2014 8:57 PM ET | About: Cascade Microtech, Inc. (CSCD)
Estimates for Q3 and Q4
Sekeen Alpha: Cascade Microtech's (CSCD) CEO Michael Burger on Q2 2014 Results - Earnings Call Transcript by SA Transcripts
This article was published on Wed, Aug. 6, 8:57 PM ET
Michael Burger - President and CEO
Not at all. No. In fact we were very purposeful in basically saying even though we’re guiding down in Q3 by $1 million on each end of the range from a revenue perspective. We believe the second half will outperform the first half. And that is typical for us. It been that way through certainly last several years, and I think before that you really can't go back because the freaky stuff that was going on with the economy. And so, certainly in the last two years, second half is stronger seasonally. But we think that, that should be accentuated by the fact that a lot of the new products that have been introduced are gaining traction. And our experience is that, Q4 typically guys are trying to clean up their capital budgets and placing whatever capital they have left and that is held true for several years. So, yes we expect second half to be stronger than the first half, actually across the board in all segments
http://seekingalpha.com/article/2391945-cascade-microtechs-cscd-ceo-michael-burger-on-q2-2014-results-earnings-call-transcript?page=1
CSCD: Q2 EPS 11c vs 15c Meets 11c Est
Wednesday, August 06, 2014 21:29ET
QUARTER RESULTS
Cascade Microtech, Incorporated (CSCD) reported Q2 results ended June 2014. Q2 Revenues were $33.50M; +10.52% vs yr-ago; MATCHING revenue consensus. Q2 EPS was 11c; -26.67% vs yr-ago; MATCHING earnings consensus.
Q2 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $33.50M $30.31M +10.52% $33.50M 0.00%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 11c 15c -26.67% 11c 0.00%
---------- ------------ ------------ ---------- ------------ ----------
ORIGINAL EARNINGS RELEASE
Consensus estimate data provided by Reuters.
EPS: $0.13 VS $0.11, REVENUES $33.5 MILL. ,INLINE
BEZINGA:4:12:00PM
Revenue of $33.5 Million; Record Gross Margin of 50.8%; Income From Operations of $2.9 Million; GAAP EPS of $0.11; Non-GAAP EPS of $0.13
BEAVERTON, OR--(Marketwired - Aug 6, 2014) - Cascade Microtech, Inc. (NASDAQ: CSCD) today reported financial results for the second quarter ended June 30, 2014.
Financial summary
Results for the quarter ended June 30, 2014 were as follows:
•Total revenue of $33.5 million, compared to $33.8 million for Q1 2014 and $30.3 million for Q2 2013. •Systems revenue of $21.8 million, an increase of $0.3 million, or 1.2%, over Q1 2014, and an increase of $2.0 million, or 10.0%, over Q2 2013.
•Probes revenue of $11.6 million, a decrease of $0.6 million, or -5.1%, from record high Q1 2014, and an increase of $1.2 million, or 11.2%, over Q2 2013.
•Gross margin of 50.8%, up from 48.1% in Q1 2014 and 47.1% in Q2 2013. •Q2 2014 represents record gross margin performance overall and for each segment.
•Systems gross margin of 46.5%, up from 42.7% in Q1 2014 and 44.1% in Q2 2013.
•Probes gross margin of 58.9%, up from 57.8% in Q1 2014 and 52.7% in Q2 2013.
•Income from operations of $2.9 million, an increase of $0.3 million, or 12.5%, over Q1 2014, and an increase of $0.4 million, or 16.3%, over Q2 2013.
•GAAP net income of $1.8 million, or $0.11 per diluted share, compared to $1.6 million, or $0.10 per diluted share, for Q1 2014, and $2.2 million, or $0.15 per diluted share, for Q2 2013. •Q2 2014 includes tax expense of $1.1 million, or $0.06 per diluted share, compared to $0.9 million, or $0.06 per diluted share, for Q1 2014, and $0.2 million, or $0.02 per diluted share, for Q2 2013.
•Non-GAAP net income of $0.13 per diluted share, compared to $0.13 per diluted share for Q1 2014, and $0.17 per diluted share for Q2 2013.
•Depreciation, amortization and stock-based compensation expenses totaled $2.4 million, compared to $2.1 million for Q1 2014 and $1.7 million for Q2 2013.
•Adjusted EBITDAS of $5.1 million, compared to $4.7 million for Q1 2014 and $4.3 million for Q2 2013.
•Total cash, restricted cash and investments of $30.3 million, an increase of $1.8 million over March 31, 2014. •Q2 2014 includes stock repurchases of $0.2 million.
•Book-to-bill ratio of 0.89 to 1.
"We are very pleased with the continued improvement in both business segments as well as our financial results. In addition to setting record gross margins and validating the key first step to our Success Model, we strengthened our business through the introduction of our strategic partnership initiatives that we call MeasureOne. These initiatives expand our markets while leveraging our sales and service channel. Our leadership position with our customer base continues to be our major focus. This focus will manifest itself in increased investment in research and development to meet our customers request and road-maps. Based upon the engagement with our customers and a strong Q2 behind us, we are optimistic about the rest of 2014," said Michael Burger, President and CEO.
Financial outlook
For the third quarter of 2014 we are projecting revenue in the range of $31.0 million to $34.0 million with diluted GAAP earnings per share in the range of $0.04 to $0.08, and non-GAAP earnings per share in the range of $0.07 to $0.11. Our guidance assumes a tax rate of 37%, consistent foreign currency rates and no significant one-time charges.
We will host a conference call beginning at 2:00 p.m. PDT (5:00 p.m. EDT) on Wednesday, August 6, 2014, to discuss our results for the quarter ended June 30, 2014.
A simultaneous audio cast of the conference call may be accessed online from the investor relations page of www.cascademicrotech.com/investors. If you are interested in participating in the call, the live dial-in number is 866-953-6860 , or international 617-399-3484 , participant Passcode: 85034028. A replay will be available after 9:00 p.m. EDT at the same internet address. (For a telephone replay available after 9:00 p.m. EDT, dial: 888-286-8010 , international: 617-801-6888 , Passcode: 99609077).
Forward-Looking Statements
The statements in this release regarding performance to the Success Model, customer demand, investment in research and development, our optimism about the rest of 2014, and statements under "Financial Outlook" regarding projected revenue, GAAP earnings per share, and non-GAAP earnings per share, and other statements identified by terminology such as "will," "should," "expects," "estimates," "predicts," and "continue" or other derivations of these or other comparable terms are "forward-looking" statements within the meaning of the Securities Litigation Reform act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business based in part on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including: changes in demand for the Company's products; changes in product mix; potential delays and other factors affecting the timing of new product introductions; the timing of shipments and customer orders; constraints on supplies of components; excess or shortage of production capacity; potential failure of expected market opportunities to materialize; changes in foreign exchange rates; our ability or delay in integrating acquired businesses; and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports, including the Company's Annual Report on Form 10-K for the year ended December 31, 2013. In addition, such statements could be affected by general industry and market conditions and growth rates and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
Non-GAAP Financial Measures
In addition to disclosing financial results calculated in accordance with U.S. generally accepted accounting principles (GAAP), the Company's earnings release contains Non-GAAP financial measures which are defined below and reconciled to GAAP financial measures in a table later in this release:
•Non-GAAP net income is defined as GAAP net income before certain items (adjustments) such as restructuring, facility move and project costs, acquisition-related expenses, the amortization of intangibles and discrete tax items that we believe are either not representative of our ongoing operating performance or effect the comparability of results over time. Non-GAAP net income should not be construed as a substitute for net income as defined by GAAP. However, we regard non-GAAP net income as a complement to GAAP net income in assessing our financial performance over time and in the future.
•Adjusted EBITDAS is defined as income from continuing operations before depreciation and amortization and stock-based compensation and certain other items (adjustments) such as restructuring, facility move and project costs, and acquisition-related expenses that we believe are not representative of our ongoing operating performance. Adjusted EBITDAS should not be construed as a substitute for net income from continuing operations or net cash provided by (used in) operating activities (all as determined in accordance with GAAP) for the purpose of analyzing our operating performance, financial position and cash flows, as adjusted EBITDAS is not defined by GAAP. However, we regard adjusted EBITDAS as a complement to net income from continuing operations and other GAAP financial performance measures, by including an indirect measure of operating cash flow.
About Cascade Microtech, Inc.
Cascade Microtech, Inc. (NASDAQ: CSCD) is a worldwide leader in precision contact, electrical measurement and test of integrated circuits (ICs), optical devices and other small structures. For technology businesses and scientific institutions that need to evaluate small structures, Cascade Microtech delivers access to electrical data from wafers, ICs, IC packages, circuit boards and modules, MEMS, 3D TSV, LED devices and more. Cascade Microtech's leading-edge stations, probes, probe cards, advanced thermal subsystems and integrated systems deliver precision accuracy and superior performance both in the lab and during production manufacturing of high-speed and high-density semiconductor chips. For more information, visit www.cascademicrotech.com.
http://finance.yahoo.com/news/cascade-microtech-reports-second-quarter-200652696.html
ANALYST RATINGS NETWORK,Consensus Price Target: $14.04
Ratings Breakdown: 1 Hold Rating(s), 4 Buy Rating(s)
Consensus Rating: Buy (Score: 2.80)
Consensus Price Target: $14.04 (18.68% upside
7/1/2014 Canaccord Genuity Initiated Coverage Buy $16.00
6/3/2014 Zacks Downgrade Neutral $12.20
6/3/2014 Craig Hallum Initiated Coverage Buy $15.00
5/30/2014 Lake Street Capital Initiated Coverage Buy $13.00
5/14/2014 B. Riley Initiated Coverage Buy $14.00 View
4/30/2014 Canaccord Genuity Reiterated Rating Buy $11.00 - $12.50
http://www.analystratings.net/stocks/NASDAQ/CSCD/
Investors, loock CSCD,$11.90, EARNINGS, TODAY, After market.Mean Recommendation*:1.6
Financial Time:Consensus recommendation
As of Aug 01, 2014, the consensus forecast amongst 5 polled investment analysts covering Cascade Microtech, Inc. advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Jun 03, 2014. The previous consensus forecast advised investors to purchase equity in Cascade Microtech, Inc..
2 BUY
3 OUTPERFORM
Earnigs estimate @.114 TDA
Market Cap (intraday)5: 193.15M
Enterprise Value (Aug 6, 2014)3: 164.34M
Trailing P/E (ttm, intraday): 12.93
Most Recent Quarter (mrq): Mar 31, 2014
Revenue (ttm): 126.35M
Gross Profit (ttm): 54.72M
EBITDA (ttm)6: 15.62M
Net Income Avl to Common (ttm): 14.26M
Diluted EPS (ttm): 0.92
Total Cash (mrq): 27.68M
Total Debt (mrq): 0.00
Shares Outstanding5: 16.23M
Float: 11.51M
Great opportunity to buy before the market close Less
It is correct!
lock C-S-C-D,$11.90, EARNINGS, TODAY, After market.Mean Recommendation*:1.6
Financial Time:Consensus recommendation
As of Aug 01, 2014, the consensus forecast amongst 5 polled investment analysts covering Cascade Microtech, Inc. advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Jun 03, 2014. The previous consensus forecast advised investors to purchase equity in Cascade Microtech, Inc..
2 BUY
3 OUTPERFORM
Earnigs estimate @.114 TDA
Market Cap (intraday)5: 193.15M
Enterprise Value (Aug 6, 2014)3: 164.34M
Trailing P/E (ttm, intraday): 12.93
Most Recent Quarter (mrq): Mar 31, 2014
Revenue (ttm): 126.35M
Gross Profit (ttm): 54.72M
EBITDA (ttm)6: 15.62M
Net Income Avl to Common (ttm): 14.26M
Diluted EPS (ttm): 0.92
Total Cash (mrq): 27.68M
Total Debt (mrq): 0.00
Shares Outstanding5: 16.23M
Float: 11.51M
Great opportunity to buy before the market close Less
http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=CSCD:NMQ
ZLTQ: SHAREHOLDERS, SELLING, Big rats!!
CNN Money
Foley Mark J
President & Chief Executive Officer
Sale 7/30/2014 18,769 $21.62 $405.8K
Advanced Technology Ventures
Sale 7/31/2014 18,662 $20.09 $374.9K
Sullivan Keith J
Sale 7/30/2014 12,400 $21.66 $268.6K Less
AMERICAN BULLS: Last pattern, NO PATTERN, can go to the bottom of the sea without stopping
Goldman: 'Dramatic divergence' coming in market
Adam Jeffery | CNBC
Stocks will significantly outperform bonds in the years ahead as investors get used to interest rates that will rise more than consensus expectations, according to an analysis from Goldman Sachs.
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Goldman foresees the Federal Reserve raising rates in the third quarter of 2015 and taking its funds rate all the way to 4 percent eventually, about double the level predicted by many in the market, including bond manager Pimco, which foresees a short-term "neutral" level of half that.
"We forecast a dramatic divergence between stock and bond returns during the next several years," Goldman strategist David J. Kostin and others wrote in a note to clients.
The firm sees the S&P 500 (^GSPC) stock index returning 6.2 percent a year between now and 2018-well below its stellar performance of recent years-when the funds rate hits 4 percent. During that time, Goldman projects the benchmark 10-year Treasury note to return just 1 percent, compared with a 10.8 percent annualized return over the past five years.
Read More Goldman downgrades stocks, warns of short-term risk
At the core of the forecast is expectation that U.S. gross domestic product will accelerate to a 3 percent or more pace in the coming years, a level it has failed to achieve during the entire post-financial crisis economic recovery. That contradicts calls from former White House economist Larry Summers and others that the U.S. is mired in "secular stagnation" and unlikely to post trend growth for an extended period of time.
Goldman disagrees with that thesis and sees the rate on the 10-year note, currently about 2.5 percent, rising to 4.5 percent as the economy grows.
As for the Fed changing from ultra-easy monetary policies, Goldman points out that the market historically has done well in the early stages of previous tightening cycles. Despite recently issuing a "neutral" rating on stocks, Kostin said he expects the S&P 500 to gain 8 percent over the next 12 months. Kostin will be on CNBC's "Squawk on the Street" at 10 a.m. to discuss his call.
Market valuation is about equal to where it has been prior to previous tightening, he argued.
Read More I call BS on Goldman's stock-market call: Polcari
"On a sector level, cyclical equities tend to outperform the index during the lead up to rate hikes, although there are few discernible patterns in the months following rate hikes," Kostin said. "Information technology has outperformed on average, although these results are skewed by the dot-com bubble coinciding with the interest rate hikes of 1999. Excluding information technology, the S&P 500 still averaged a strong 11.7 percent return during the year prior to a rate hike, while the median stock returned 13.1 percent."
Kostin sees inflation, as gauged through the consumer price index, running about 2 percent annually. By the time 2018 rolls around, he projects an S&P 500 level of 2,300, about 19 percent above current levels.
-By CNBC's Jeff Cox
Zeltiq Aesthetics Director Unloads $585,764 in Stock (ZLTQ)
Posted by Seth Barnet on Aug 2nd, 2014 // 0 Comments
Zeltiq Aesthetics (NASDAQ:ZLTQ) Director Jean George sold 29,157 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $20.09, for a total value of $585,764.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Brasil, Petrobras fell 0.5% to 19.01 reais,= $8.4122 Overvalued in markets NYSE. $1=2.2598 reais,Today
5:10p ET August 1, 2014 (Dow Jones)
776,975 shares in short sell $15.81 15:59:59 hs, 815,037 shares in block(Bank transaction) $$15.82, 16:00:21, close market
Question: Where are the proper authorities. This platform has to be closed. What hope, another environmental disaster like BP?
This is the cause of low, of PBR
Why not report on the website of the fire?
Another Loss for PBR.
This happens for second time. Platforms are not properly maintained.
It is for lack of funds? An oil company can not be neglected at all.
Then come the cries. Less
Petrobras Halts Production at Offshore Platform After Fire
1:06p ET July 31, 2014 (Dow Jones)
Petrobras Halts Production at Offshore Platform After Fire
By Will Connors
RIO DE JANEIRO--Brazilian state oil company Petroleo Brasileiro SA (PBR) halted production at one of its offshore oil platforms after a fire broke out during maintenance and oil began to leak into the ocean, the
company said Thursday.
The fire occurred Wednesday at the PNA-1 platform in the Namorado oil field during repairs and was quickly extinguished, the company said. It is the second fire at the platform in three months. No one was injured during the incident.
The platform, which produces about 2,400 barrels of oil a day, is one of Petrobras' oldest and is undergoing repairs. The company said production should resume in "the coming hours." Less
Write to Will Connors at William.Connors@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
July 31, 2014 13:06 ET (17:06 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.DN201407310158562014-07-31 17:06:00.0007MCL0V5AO03149BTHFR03BT06QDJNF
The company held a $120 millon public offering in november, when shares first sold at $15
It's a joke, rats