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12:08 MRVL Marvell: Confusion creates buying opportunity - BWS Financial (15.33 -1.32) -Update-
BWS Financial says that MRVL experienced strong demand in all product categories during Q3. The performance was strong enough that the co has jumped a full qtr ahead in their earnings model. Firm says the guidance that MRVL provided was not too clear after having posted a strong Q3. Firm believes investors should be looking ahead to Q1 results and the operational improvements in place by then. Firm says they "can not fathom a better time than now to be buyers of MRVL stock". Revs are growing faster than they had been projecting with cost controls being implemented to increase the bottom line.
16:11 MRVL Marvell beats by $0.06, beats on revs (16.65 +0.66)
Reports Q3 (Oct) earnings of $0.14 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.08; revenues rose 45.7% year/year to $758.2 mln vs the $711.6 mln consensus. The co also announced a plan to reduce operating expenses and help meet financial targets with a worldwide reduction in force of approximately 400 employees, or approximately 7% of the co's total workforce. The co expects to incur a restructuring charge in connection with the plan of up to $8 mln in Q4 of fiscal 2008 related to severance and other expenses
15:27 MRVL Marvell: Earnings Preview (16.24 +0.25) -Update-
Today after the close MRVL is scheduled to report Q3 results with analysts expecting EPS of $0.08 on revs of $711.59 mln. In their last report the co guided for Q3 revs of $710 mln and guided for slightly better than 48% gross margins. Analysts are expecting the firm to beat consensus, and issue in line to upside guidance. Some analysts are expecting the co to announce a workforce reduction. Both Friedman and Jefferies believe a work force reduction can result in an increase in annual EPS of $0.10-0.15 a year. Analysts are attributing the strong qtr to strong Mobile and hard drive business, as well as strong WLAN and XSCALE. The issue analysts and investors will be looking for is gross margins. The stock sold off last qtr because the co said gross margins would come in "slightly better" than 48% this qtr which was contrary to what they had said in the past that they would like to return back to 50% margins by the end of this year. Gross margin ests for this qtr are 48.2%; analysts are looking for this number to come in better than expected. The co's results have been pretty messy the past few qtrs because of an ongoing options review. With that out of the way look for the co to report "cleaner" numbers going forward. As for revenue growth it has been declining from the 40% growth level in 2006 down to 14% YoY last qtr. As for movement in the stock following earnings, the stock is down roughly 14% since their Q2 report. The stock has not gapped up or down an extreme amount following the past few earnings reports, so playing its volatility will be difficult unless they report a blowout number. (PVIEW)
S2 are you expecting a fivth wave up.Or are we dead in the water after small rebound.I was thinking from your earlier comments the last wave would have moved to last highs ,than down.
08:22 MRVL Marvell: FQ3 preview; stock is attractive (16.52 )
Caris recommends investors buy shares of MRVL before it reports results as they believe that the co will beat expectations due to strength in storage, PXA (Intel (INTC)) and WLAN. The stock remains an operating margin expansion story (10% this quarter going to 16% exiting F2008).
interesting to note retail index up today.could this be a indicator the consumer is not dead yet.IF so should see strong market rally by wednesday.
salary is one thing cost of benefits should be included
07:39 BRCM Broadcom: Google Taps 10GigE ODMs - Lightreading.com (28.03 )
Lightreading.com reports that Google's (GOOG) search for 10-Gbit/s Ethernet switches has taken it to Taiwanese original design manufacturers, sources say, a further indication that certain types of 10-Gbit/s equipment are following their gigabit predecessors into commodity status. A recent report from Nyquist Capital indicated that GOOG, which builds some of its own servers, has also built its own 10-Gbit/s switches, possibly using Broadcom (BRCM) chips. Now other sources, requesting anonymity, say Google is considering ODM designs, too. One source says Google may have two or three ODM candidates in mind. Another source says Quanta Computer, a large ODM better known for notebook computers, is headed to the Bay Area in mid-Dec to show GOOG a 10-Gbit/s switch based on chips from Applied Micro Circuits (AMCC) and Marvell Technology Group (MRVL). Conventional wisdom in Ethernet circles says low-end stackable switches tend to get cheap quickly, becoming a market left to ODMs. By scouting ODMs now, GOOG might be trying to get in on that process early. One source thinks GOOG's moves are more a jab at Cisco Systems (CSCO), which dominates the 10-Gbit/s Ethernet market. "With 10 Gbit/s Ethernet, you're kind of a slave to CSCO and their I.O.S. You have to buy their modules," the source says
S2 when you have time check out stocktiming.com the web site is by marty chenard.i used it for a couple of years.check out the free daily market trends.At times in past i found it difficult to understand what he was talking about,but a guy like you i'm sure you'll have no problem
07:18 MRVL Marvell: Friedman Billing's checks show sales guidance likely robust (17.52 )
Friedman Billing's notes their recent channel checks show improving momentum trends heading into FY 4Q08 (Jan), driving up their expectations for 4Q rev guidance. Separately, MRVL is set to report FY 3Q08 (Oct) results and provide 4Q guidance on Tuesday, Nov 27. For FY 3Q08, firm expects revs of $711 mln and pro forma EPS of $0.08, both in line with consensus ests. For FY 4Q08, they expect robust top-line guidance of $750-$770 mln, better than the consensus est of $753 mln. That said, firm does believe operating expense spending continues to be too high as MRVL (and BRCM and QCOM) pursues 'OpEx gone wild' investment strategies. Firm believes mgmt is contemplating headcount cuts in late 2007 or early 2008, a move that could drive annual EPS higher by $0.10 to $0.15, per firm's calculations.
ok,guys need some help here.never used options in past so need easy to understand instructions,if possible.I have 5000 shares of mrvl,whats the best way to protect myself from any downside.I thought you use a covercall,but it seems talking to my broker i may be wrong.thanks
25-Oct-07 09:10 ET In Play Riverbed Technology upgraded to Buy at Janco- tgt $50 (34.61 ) : Janco upgrades RVBD to Buy from Mkt Perform with a $50 tgt, following Q3 results, based on the approximate 30% retracement in the stock.
25-Oct-07 08:26 ET In Play Corning and Riverbed Networks recommended in Barrons Online : Barrons Online reports consider Corning (GLW), which makes glass for LCD television sets, which Wednesday reported a very healthy 21% sales growth in September. It forecast profit growth of 23% for the fourth quarter, but because the sales outlook was light, the stock fell 6%. Or consider Riverbed Networks (RVBD), which Tuesday reported that its sales had jumped 157% in the third quarter. It forecast profit this quarter of 19 cents, versus 3 cents a year earlier, but its shares on Wednesday fell 38%.
08:17 TXN Texas Instruments upgraded to Buy at Caris- tgt $41 (34.27 ) -Update-
Caris upgrades TXN to Buy from Above Average and maintains their $41 tgt saying with Dec Qtr guidance for a seasonal revenue decline coming in below Street expectations, and investor concern over market share loss in wireless at full boil, they expect consensus sales estimates to be cut sharply, potentially removing an overhang on the stock and shifting investor focus to share gains in analog, improving gross margin, tight opex control, strong cash flow generation, and reasonable valuation.
please someone tell Marie to shut up.
The post i made today on MRVL is the statement right off of briefing.com news wire.That was all they had just trying to explain the spike in the stock.
thats what briefing.com is saying.
15:48 MRVL Marvell pops to session highs as takeover chatter makes the rounds
08:45 MRVL Marvell: Downgrade details (16.37 )
As mentioned at 6: 52, Lehman downgraded MRVL to Equal-weight from Overweight and lowered their tgt to $15 from $20. The firm believes rev ests this year are likely conservative on the heels of solid HDD demand, RIMM, and AAPL product cycles. Long term, though they project rev growth to slow given major SoC programs (STX, Samsung, Hitachi) in HDD are going to LSI, traction in handsets (XScale) outside RIMM is limited, and WLAN opp seem confined to gaming and AAPL.
Lehman downgrades Marvell (MRVL 16.37) to Equal-weight from Overweight... Lehman downgrades NetLogic Microsystems (NETL 36.11) to Equal-weight from Overweight... RBC downgrades Research In Motion (RIMM 98.55) to Outperform from Top Pick based on valuation; tgt increased to $115 from $110...
S2 WDC had formed a W in lst two weeks,break out was at 24.Interesting MRVL broke higher exact time as WDC.
Laker when is shareholders meeting,and would you expect them to raise guidance before meeting,if so may what to load up.thanks
S2 Follow up I also see that the SMH has resistance at about 38.40.IF it can brake through I THINK it will also lift MRVL.The macd just went positive also on SMH plus note how 5,20,50 sma are all together.I THINK semi's are going to lead the way.Or head and shoulder taking us down.I say up.
S2 Did you happen to notice how MRVL over last ten days was almost identical to SMH.The one exception was yesterday.Maybe all we saw was a dumb reaction hear say.
S2 good to see you re-think mrvl action today.As you stated I believe this was mostly a short squeeze rally.Think about mrvl's move ,not many shorts.In general semi's really didn't do much as in past moves.As you know i like my 5ema and I see a close above 16.28 will confirm our move up.In terms of semi's we sould be just starting their annual run about now if i'm right.If i am right mrvl will move up as people will be looking to sell all those oil and gold stocks.
briefing.com
08:40 MRVL Marvell: BWS Financial believes WDC and INTC announcements bode well for MRCL (16.53 )
Boutique firm BWS Financial notes that both WDC and INTC updated their expectations. The two increases in guidance are likely to be considered as a sign of a strong PC component group. This should provide a strong argument that business is increasing for cos in the field. The news bodes well for MRVL, which considers WDC as a major customer. The increase in guidance at WDC affirms firm's investment thesis that there is traction in the hard disk industry that would provide a basis for MRVL shares to move higher. We strongly believe that all business segments at MRVL are seeing increased sales and as a result should be able to off-set the slight decline in gross margin.
WDC Western Digital: Caris notes WDC results positive for MRVL (22.41 ) -Update-
Caris retains their Above Average rating and increases their tgt to $27 from $25 on WDC following its report last night that it will post stronger-than-expected results for FQ1 (Sept.). It now expects its WDC acquisition to be accretive in FQ4 08. Firm notes WDC's strong Sept quarter result is a positive for MRVL since WDC is MRVL's largest customer. Note that their checks for MRVL's two largest customers -- Samsung and Toshiba -- are positive for CQ3 as well. Since WDC has a tight relationship with DELL, WDC's strong result is a positive for DELL as well. As noted above, they now est that WDC's HDD units grew 20% Q/Q.
13:36 AAPL Apple iPod touch has wi-fi, as rumored (142.20 -1.96) -Update-
S2 yea was good trade made 4000 on it today as daytrade.:0)
Smalls ,in regard to CWTR.Back in early june the stock broke below the 5ema,than crossed under the 20 sma.that was your sell signal.What i use anyway.It futher droppped below the 50 sma again no bounce so for sure you want out.Bring up a chart and of CWTR and you will see how those simple indicators plus using the MACD will work for you.Can't add anymore on my way out of town.
09:09 MRVL Marvell: News from STX positive for MRVL - BWS Financial (15.52 )
Boutique firm BWS Financial notes news from STX affirms their thesis regarding MRVL that this would be the inopportune time to be selling MRVL shares. STX raised its guidance for the amount of units it expects to sell for the Sept quarter. In their most recent report on MRVL firm had noted that the hard disk industry was showing signs of life and that all segments of MRVL's business were showing signs of growth. Firm remains optimistic as to the quarterly performance by MRVL for fiscal third quarter and would remain buyers of the shares at the current moment.
12:46 MRVL Marvell: Business is ramping in all segments - BWS Financial (15.64 -0.11)
BWS Financial says that Q2 results showed the co is being able to benefit from wireless L.A.N. and the mobile processor business. Firm believes that investors might be overlooking the fact that business has finally started to ramp in all segments. Firm says the Q2 results were the first time for MRVL since the acquisition of the mobile business that there was traction in all segments. Input costs should come down during 2H through cost controls in place along with the ability to utilize its cash position to purchase raw material inventory at lower than usual prices when the opportunity arises.
12:46 MRVL Marvell: Business is ramping in all segments - BWS Financial (15.64 -0.11)
BWS Financial says that Q2 results showed the co is being able to benefit from wireless L.A.N. and the mobile processor business. Firm believes that investors might be overlooking the fact that business has finally started to ramp in all segments. Firm says the Q2 results were the first time for MRVL since the acquisition of the mobile business that there was traction in all segments. Input costs should come down during 2H through cost controls in place along with the ability to utilize its cash position to purchase raw material inventory at lower than usual prices when the opportunity arises.
sorry meant CFO chief financial officer,give me a break it was a long night.
S2 Without any major product releases,the only catalyst would be a new COF that has the respect of wall sreet.Lets all hope.You reading this Sehat.
S2 good to see you back,yes thursday's cc was a disappointment.The 12% drop in the stock because of a 2% difference in margins,give me a break.The issue is management,Sehat disappointed because he showed lack of direction.I'm sure he got the message,and if not all he has to do is listen to the cc.At times listening to the cc you could almost feel some of these analyst wanted to step in and say you need to say this or that.The acting COF, was out of his comfort zone that was for sure.Sehat could have set the stock on fire saying a new COF will be in place in x nunmber of weeks,and he will answer all questions today.A good CEO contols the cc,Sehat direction should have been more on the future and the analyst would have directed there questions there not to 2% margins and dumb tax questions.The analyst all know Sehat has a problem with english and he would have gotten a pass.Sehat felt he needed the acting COF there as support,problem you need someone to have confidence in his replys.As someone who has sat in boardrooms in my life,this acting COF would not have a chance at a second meeting.The acting COF was the cause of the stock dropping in my opinion.A new COF will go a long way to improving everything.The only positive from the acting COF when asked about a replacement,he did sound as if they were close to a new hire yet the answer lacked conviction.Sehat should have stepped in and answered the question,gees its his company.
07:26 MRVL Marvell: Color on quarter (17.85 )
After the close last night Marvell reported F2Q08 results: CIBC notes MVRL's results featured top line upside and a strong rev outlook but an unexpectedly weak gross margin outlook, higher tax rate, and continued R&D spending. They note that even as the co has most of its drivers contributing again, there remains too much ground to cover on the profitability side... Deutsche Bank believes that MRVL will outperform in 2H as rev growth has returned with storage, WLAN & cellular all growing. In addition, they believe cellular manufacturing transition to TSMC will drive margin expansion in 2007, and net margins will expand as tax rates are lowered due to improved profitability... Lehman is lowering its ests on MRVL as upside in rev was offset by weaker gross margin guidance (lower ASPs) and a higher tax rate. They believe solid rev growth is likely to continue but, given uncertainty on the operating model, they expect the stock to be range-bound ($15-20)... Jefferies notes that although the Intel (INTC) deal is still negatively impacting profitability, they believe it is on track and MVRL is well positioned to regain profitability and rev growth in CY08 as it benefits from multiple product cycles and drives operational leverage within its acquired assets (PXA, Avago, QLogic).
16:05 MRVL prelim $0.06 vs $0.06 Reuters consensus; revs $656.7 mln vs $645.49 mln Reuters consensus
15:02 MRVL Marvell Earnings Preview (18.20 +0.51) -Update-
Today, after the close, MRVL is scheduled to report Q2 results with a conference call to follow at 4:45 ET. Current consensus for EPS is $0.06 on revs of $645.49. On 5/17, the co guided on a call, saying they expect Q2 revs of $645 mln with a slight improvement to gross margins. Analysts are generally expecting the co report an in-line EPS on a slight rev beat. Wedbush and Amtech say that channel checks suggest that MRVL's business trends have strengthened recently, led by growth in storage, wireless, and WiFi chip segments. B.W.S. Financial believes the co has recognized some improvement in operating margins during the qtr and they see further improvement going forward. For Q1, which was reported on 7/9, the co missed on both EPS and revs; however, the stock still traded marginally higher the following day. Prior to the that, the co reported delayed (due to options investigation) 3Q06 and 4Q06 results on 7/2, in which the co missed top and bottom line estimates for Q3 and beat on the bottom line for Q4. Again, the stock traded up marginally the following day... Key Issues on the Call: Guidance: The co historically issues rev and gross margin guidance. Possible drivers to upside rev guidance include: robust trends in WiFi ,due Xbox 360 and PS3 game consoles and the Apple iPhone; and seasonal strength in storage... New Growth Drivers: Traders and investors will focus on commentary and the outlook regarding new growth drivers including XScale, iPhone, and Printer A.S.I.C.; potential catalysts for CY2H07. Also of importance will be the co's outlook for the storage segment, and any signals that Q2 was the trough for the storage chip mkt... Recent Stock Movement: Coming into today's trading, MRVL was up 4.24% over the last 5 trading days, but down 4.41% since they last reported on 7/9... Consensus Estimates: Q2 EPS $0.06, revs of $645.49mln; Q3 EPS $0.10, revs of $962.97; FY08 EPS $0.35, revs of $2.72 bln; FY09 EPS $0.75, revs of $3.29 bln... Secondary Plays: LSI, STM, TXN... Technical Levels of Interest: Please click here for MRVL chart. (PVIEW)
08:58 MRVL Marvell: AmTech anticipates solid quarter; guidance likely constructive yet conservative (17.10 )
AmTech notes MRVL is due to report its July quarter this Thur, Aug 23, 2007, after the close. They anticipate a slight beat on rev above its guidance of $645 mln and in-line EPS at $0.07. Firm's supply chain sources indicate that its HDD and GigE businesses have stabilized due to stronger PC shipments. Wi-Fi is benefiting from the adoption of 802.11n and continued penetration in game consoles and cell phones while XScale continues to ramp due to strong smartphone adoption. Firm anticipates MRVL's Oct quarter guidance to be constructive, but it will likely have a conservative bias as industry inventory levels continue to work down. Firm reduces forecast to $680 mln from $694 mln (consensus $695 mln).