From Briefing.com: 4:24PM Ultra Clean Holdings pops ~16% to $9.03 on thin volume after hours following earnings/guidance results ( see 16:22 post) (UCTT) 7.80 +0.04 :
4:22PM Ultra Clean Holdings beats by $0.03, beats on revs; guides Q1 EPS above consensus, revs above consensus (UCTT) 7.80 +0.04 : Reports Q4 (Dec) earnings of $0.06 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.03; revenues fell 27.8% year/year to $86.9 mln vs the $85.3 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.15-0.18 vs. $0.10 Capital IQ Consensus Estimate; sees Q1 revs of $105-110 mln vs. $88.98 mln Capital IQ Consensus Estimate.
4:20 pm : Stocks started the day higher on encouraging news about agreement from Greece on proposed austerity measures. The early bid waned off the open, but buyers stepped back in around mid-morning and stocks closed right around the levels where they opened, with the S&P 500 adding 0.7%.
After weeks of haggling over austerity plan details, many market participants were concerned that Greece's parliament would drag its feet in passing new measures, but, over the weekend, the country approved the plan, bringing it closer to securing additional bailout funds. That said, eurozone officials still have to approve Greece's plan. There are also challenges associated with implementing any new measures.
The news inspired buying abroad, resulting in varied gains for the world's major equity averages. Domestic averages have followed suit, but they have wavered since the start of the session. Nonetheless, improved sentiment in the wake of the Greece headline has helped take the Dow Jones Global Index up to a 0.7% gain.
Industrial stocks were the strongest today, with the sector gaining 1.2%. Financials, which are considered to be most sensitive to the European crisis, were the second strongest sector, finishing the day +0.9%.
Tech stocks, which make up the largest sector by market weight, were a laggard, gaining 0.6% on the day.
Despite the relatively unimpressive performance of tech stocks, the tech-rich Nasdaq actually maintained a narrow lead over its counterparts today. Apple (AAPL 502.60, +9.18) was a leader in the Nasdaq as it made a push past the psychologically significant $500 level earlier.
Late in the session, a technical glitch halted crude oil trading on the CME. After the halt, crude resumed trading higher and is now around $100.57. Crude ended 1.8% higher at $100.40/barrel in floor trading. Feb natural gas remained in the red all session. The energy component attempted to erase all of its losses in early morning activity, but couldn't hold and closed 2% lower at $2.43/MMBtu.
There haven't been any other stories of great importance today -- earnings reports are sparse and without broad consequence and there hasn't been a single economic announcement. That has likely further depressed participation today, resulting in trading volume that was well below average.DJ30 +72.81 NASDAQ +27.51 SP500 +9.13 NASDAQ Adv/Vol/Dec 1864/1.57 bln/692 NYSE Adv/Vol/Dec 2370/682.6 mln/719
10:13AM Marvell and VeriSilicon Holdings announce a licensing agreement for ZSP G3 cores (MRVL) 15.84 -0.21 : The agreement includes the Dual-MAC ZSP800M and ZSP880M synthesizable DSP cores which are area and power optimized for efficient mobile application and digital entertainment platform solutions.
Trina Solar (TSL) announced that its multicrystalline modules manufactured with European-sourced silicon wafers have been certified by the independent Italian institute ICIM and fulfill GSE requirements for a 10% feed-in tariff premium in Italy.
7:34AM NXP Semi announced that its subsidiary together with NXP Funding is intending to redeem all of its outstanding Euro-denominated 8 5/8% Senior Notes due October 2015 (NXPI) 21.62 : Co announced that its subsidiary, NXP B.V., together with NXP Funding is intending to redeem all of its outstanding Euro-denominated 8 5/8% Senior Notes due October 2015, and all outstanding U.S. dollar-denominated 9 1/2% Senior Notes due October 2015, in the total amount of ~$775 mln. These proposed redemptions would be financed by a $300 mln draw-down under the existing Revolving Credit Facility, as well as by new secured loans up to $475 mln, subject to their completion.
7:06AM KVH Industries reports EPS in-line, revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY12 revs below consensus (KVHI) 9.90 : Reports Q4 (Dec) earnings of $0.11 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.11; revenues rose 18.1% year/year to $31.9 mln vs the $31.91 mln consensus. Co issues downside guidance for Q1, sees EPS of ($0.09)-($0.03) vs. $0.05 Capital IQ Consensus Estimate; sees Q1 revs of $25.5-28.5 mln vs. $28.74 mln Capital IQ Consensus Estimate. Co issues downside guidance for FY12, sees FY12 revs of +10-15% YoY, calc'ing to $123.7-129.4 mln vs. $132.56 mln Capital IQ Consensus Estimate.
MagnaChip Semiconductor (MX) announced that its foundry services has begun ramping its 0.35um mixed-signal process for Micro Electro Mechanical Systems Accelerometer applications.
Lattice Semiconductor Corporation (LSCC) announced that it has shipped more than 20 mln programmable mixed signal devices.
NVIDIA (NVDA $16.14 +0.24) was upgraded to Outperform from Mkt Perform at FBR Capital and the firm put a target of $20 on the stock. The Firm notes their upgrade is a short-term tactical upgrade for a move toward $20, with integrated GPU attach rate risks and lower PC BOM cost risks still major challenges for co in coming quarters. They generally believe shares are at the bottom of their trading range near $12 and overbought above $20, with valuation now reasonably attractive at 13.5x P/E.
10:10 am S&P Tech Sector Trading Higher, About In-line With The S&P 500
The tech sector is trading higher today, along with gains in the broader market. Semiconductors are showing relative weakness in line with the tech space with the Philly Semi Index trading only 0.1% higher. AMD (+3.1%) is a notable leader in the chip index, while CREE (-2.6%) is a laggard. Among other major indices, the SPY is trading 0.6% higher, while the NASDAQ and the QQQ are trading 0.8% higher on the session. Among tech bellwethers, AAPL (+1.4%) is showing strength, while TXN (-0.7%) are under a little pressure.
In news, TXCC (+3.9%) announced at-the-market issuance program to sell up to $10 mln in stock. Among rumors, we are hearing APKT (+3.1%) takeover chatter making the rounds.
Among notable analyst upgrades this morning, NVDA (+0.9%) was upgraded to Outperform at FBR Capital and AMD (+3.1%) was upgraded to Outperform at Bernstein. Among downgrades, MRVL (-1.6%) and BRCM (-1.0%) were downgraded to Hold at The Benchmark Company, NTAP (-1.4%) was downgraded to Hold at ThinkEquity and MWW (-3.2%) was downgraded to Sell at Citigroup.
FIS (+1.2%) is the notable name in tech scheduled to report results today after the close.
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