Replies to post #117759 on Coffee Sipping Big Board Stocks

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BRIEF-Fitbit to cut 6 percent of its workforce
REUTERS 9:53 AM ET 1/30/2017
Symbol Last Price Change
FIT 6.24down -0.97 (-13.45%)
QUOTES AS OF 09:53:33 AM ET 01/30/2017
Jan 30 (Reuters) - Fitbit Inc(FIT) :

* Fitbit(FIT) announces preliminary fourth quarter 2016 results

* Sees Q4 non-gaap loss per share $0.51 to $0.56

* Sees Q4 2016 revenue $572 million to $580 million

* Sees fy revenue up about 17 percent

* Sees FY 2017 revenue $1.5 billion to $1.7 billion

* Says cutting about 110 jobs

* Says cutting workforce by about 6 percent

* Says cutting about 110 jobs

* Fitbit Inc(FIT) says for full-year 2016, fitbit expects annual revenue growth to be approximately 17pct from previous forecasted growth of 25pct to 26pct

* Says expects to report 6.5 million devices sold and revenue for Q4 of 2016 to be in range of $572 million to $580 million

* Fitbit Inc(FIT) - cost of reorganization efforts is expected to be approximately $4 million to be recorded in q1 of 2017

* Fitbit Inc(FIT) - targeting a reduction in 2016 exit operating expense run rate of approximately $200 million, to approximately $850 million for 2017

* Fitbit Inc(FIT) sees 2017 preliminary non-gaap free cash flow guidance of approximately negative $50 to $100 million

* Fitbit Inc(FIT) sees preliminary 2017 long-term non-gaap gross margin of approximately 45% versus previous 50% target

* Says for full-year 2016, fitbit expects to earn approximately $32 million in non-gaap free cash flow

* Fitbit Inc(FIT) - expects a challenging year over year comparison in first half of 2017

* Fitbit(FIT) - fitbit's two co-founders, ceo james park and chief technology officer eric friedman have announced intention to reduce their 2017 salary to $1

* Sees one-time write downs of tooling equipment and component inventory of approximately $68 million in quarter

* Fitbit Inc(FIT) - "will take action to reset performance incentives"

* Fitbit(FIT) - challenging year over year comparison in h1 2017 given that new product introductions represented 52% of revenue in first half of 2016

* Fitbit Inc(FIT) - "experienced softer-than-expected holiday demand for trackers in our most mature markets, especially during black friday"

* Fitbit Inc(FIT) - "continued to grow rapidly in select markets like emea, where revenue grew 58% during q4"

* Fitbit Inc(FIT) - "expects stabilization in financial performance in second half of 2017"

* Fitbit(FIT) - to seek stockholder approval for program for certain employees to relinquish out-of-money options in return for fewer restricted stock units

* FY2017 earnings per share view $0.64, revenue view $2.38 billion -- Thomson Reuters I/B/E/S

* Q4 earnings per share view $0.17, revenue view $736.4 million -- Thomson Reuters I/B/E/S

* Fitbit Inc(FIT) - expects minimal dilution from program for employees to relinquish out-of-money options Source text for Eikon: Further company coverage:

(c) Copyright Thomson Reuters 2017. Click For Restrictions - about.reuters.com/fulllegal.asp

[EZ2]

BRIEF-Broadwind Energy reaches agreement to acquire Red Wolf Company Llc
REUTERS 9:56 AM ET 1/30/2017
Symbol Last Price Change
BWEN 3.95down -0.14 (-3.42%)
QUOTES AS OF 09:50:25 AM ET 01/30/2017
Jan 30 (Reuters) - Broadwind Energy Inc(BWEN) :

* Broadwind Energy(BWEN) reaches agreement to acquire Red Wolf Company Llc

* Broadwind Energy(BWEN) - plans to maintain Red Wolf's operations in Sanford, NC, under continued leadership of Kim Sutton, president of Red Wolf Source text for Eikon: Further company coverage:

(c) Copyright Thomson Reuters 2017. Click For Restrictions - about.reuters.com/fulllegal.asp

[EZ2]

U.S. stocks open lower on continued political uncertainty
MARKETWATCH 9:32 AM ET 1/31/2017
Symbol Last Price Change
XOM 84.7down -0.16 (-0.19%)
PFE 31.06 -0.25 (-0.8%)
QUOTES AS OF 09:33:00 AM ET 01/31/2017
U.S. stocks opened lower on Tuesday as investors continued to grapple with political uncertainty stemming from the newly inaugurated President Donald Trump's administration. Late Monday, Trump fired the acting attorney general, who declined to defend an executive order calling for a travel ban. The order, which was met with massive controversy, also spurred selling on Monday. Investors also watched the latest batch of corporate earnings, including from Exxon Mobil Corp.(XOM) and Pfizer Inc.(PFE) . The Dow Jones Industrial Average fell 72 points, or 0.4%, to 19,899. The S&P 500 lost 5 points to 2,276, a drop of 0.2%. The Nasdaq Composite index sank 17 points, or 0.3%, to 5,595.

-Ryan Vlastelica; 415-439-6400; [e-mail]


(END) Dow Jones Newswires
01-31-170932ET
Copyright (c) 2017 Dow Jones & Company, Inc.

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Short Sellers Continue To Flock To Fitbit -- Barron's Blog
DOW JONES & COMPANY, INC. 9:34 AM ET 1/31/2017
As my colleague Tiernan Ray reported Monday, Fitbit ( FIT) shares plunged after the company slashed its fourth-quarter outlook.

FitBit is down more than 60% in the past 12 months, and S3 Partners'Ihor Dusaniwsky writes that, not surprisingly, short sellers have been quite active it he stock, with short interest averaging nearly $600 million in 2016.

In fact, selling Fitbit short was so popular that borrowing rates averaged 6.81% last year, translating to $39.5 million in borrowing costs. Yet they made back even more, scooping up $816.7 million in mark-to-market P/L.

And while short interest in the stock was decreasing at the end of the year, that trend has reversed this month, with short interest climbing 31% in January.

He concludes:

With Fitbit's stock price already below $7/share and short sellers having made 131% in 2016 and 18% so far in January 2017, shorts may be quick to cover their positions and lock in their profits if Fitbit's stock price plateaus or reverses course.

Although there is stock available to borrow for more short selling, borrow inventory is starting to get tight again and stock borrow rates will begin to get more expensive shortly.

It might not take much of a stock price or borrow rate move to spook short sellers into covering their already profitable holdings.

It might not take much more than a hug to start a true short squeeze in Fitbit.

Fitbit shares are down 2.4% to $5.92 this morning.

More at Barron's Focus on Funds blog, http://blogs.barrons.com/focusonfunds/


(END) Dow Jones Newswires
01-31-170934ET
Copyright (c) 2017 Dow Jones & Company, Inc.

[EZ2]

God Bless this angel !!
http://www.blogs.va.gov/VAntage/34803/army-veteran-spends-days-comforting-dying/