UBS notes Toyota and Hyundai will offer XM Satellite (XMSR) factory installed in 2007 model year vehicles and they believe XMSR has substantially resolved its FM modulator issues, saying modulators should have a minimal impact on 3rd quarter 2006 adds. Firm notes that XMSR will announce 2nd quarter subscriber numbers before the open on July 6, and the firm expects 403K net adds, -29% Quarter over Quarter and -38% Year over Year. They believe they are toward the low end of consensus, and think they could see a relief rally over 400K. However, the firm remains cautious heading into the 2nd quarter 2006 sub figure. They think a combination of new OEM installs (Hyundai/Toyota) and an increase in % of car buyers contacted could result in improved sub growth through year end and into 2007.
Rambus (RMBS) said it may have to revise previous financial reports after discovering some dates used to set the value of its options didn't match the grant dates.
Susquehanna initiates Actions Semiconductor (ACTS) with a Positive. They expect the company to continue to gain market share in the value segment. The firm thinks its new product introduction and diversification should help slow down average selling price decline.
UBS cuts their target on Broadcom (BRCM) to $55. The firm is saying they are modestly trimming their intermediate growth assumptions for BRCM owing to concerns surrounding their belief that Marvell will be able to increase the competitive profile of Intel's mobile XScale business. The firm believes the acquisition gives MRVL greater wireless sales leverage for its increasingly sophisticated offerings in the C.E, Wi-fi, handset and A.R.M core product spaces.
Baidu.com (BIDU) has launched a beta blog service "Baidu Space" and plans to open it online on July 13.
J.P Morgan upgraded Univision (UVN) to Neutral from Underweight.