Seeking Alpha
  • Today - Friday, October 24, 2014

  • 5:12 AM
    • Digital River (NASDAQ:DRIV) has entered into a definitive merger agreement to be acquired by an investor group led by Siris Capital in a transaction valued at approximately $840M.
    • Under the terms of the deal, Siris will acquire all of the outstanding common shares of Digital River for $26.00 per share in cash, representing a premium of approximately 50% over yesterday's closing price.
    • The agreement will also allow Digital River to solicit alternative acquisition proposals from third parties during a 45-day "go-shop" period, following the date of execution of the merger agreement.
    • DRIV +15.1% premarket
    | Comment!
  • 2:05 AM
    • Lockheed Martin (NYSE:LMT) and U.S. defense officials have reached agreement on the terms of a contract worth about $4B for an eighth batch of 43 F-35 fighter jets, Reuters reports.
    • The new contract lowers the cost of the jets by about 3%,
    • Both sides had expected to reach a deal early in the summer, but negotiations slowed after an engine failure in June grounded the entire F-35 fleet for weeks.
    • LMT +0.6% premarket
    | 1 Comment
  • Thursday, October 23, 2014

  • 9:57 PM
    • The physician - who lives in Upper Manhattan - had returned to NYC ten days ago after treating Ebola patients in West Africa. Late in the trading session today, stocks gave back some of their big gains on a report he had been hospitalized with Ebola-type symptoms.
    • City officials are at work tracing the doctor's contacts to determine who else may be at risk, and his girlfriend is being tested for the disease.
    • S&P 500 (NYSEARCA:SPY) futures are lower by 0.5%.
  • 9:25 PM
    • In addition to missing FQ1 revenue estimates (while slightly beating on EPS), Maxim (NASDAQ:MXIM) is guiding for FQ2 revenue of $540M-$580M and EPS of $0.26-$0.32, below a consensus of $606.5M and $0.38.
    • The analog/mixed-signal chipmaker blames its FQ1 sales miss on "weakness in smartphone revenue," and adds a continued smartphone chip slump is "the catalyst for our decision to lower operating spending and reduce our manufacturing cost structure."
    • Leading customer Samsung's recent troubles almost certainly have much to do with Maxim's top-line challenges. Synaptics, which also depends heavily on Samsung, posted a top and bottom-line FQ1 miss this afternoon.
    • Maxim closed AH trading less than a dollar away from its 52-week low of $25.28.
    • FQ1 results, PR
    | 1 Comment
  • 8:50 PM
    • Though it beat Q3 estimates, Altera (NASDAQ:ALTR) is guiding for Q4 revenue to be down 2%-6% Q/Q. That implies a range of $469.6M-$489.6M ($479.6M midpoint) vs. a $485.7M consensus.
    • Q3 gross margin was 66.8%, down from 67% in Q2 and 68.3% a year ago. Q4 GM guidance is at 66%-67%.
    • With the help of strong orders from 4G mobile infrastructure clients (particularly from China), telecom/wireless chip sales (45% of revenue) rose 23% Y/Y in Q3. Industrial automation, military & auto +3%; networking, computer, and storage -5%; everything else +18%. FPGAs were 85% of revenue, up from 82% a year ago.
    • GAAP opex +9% Y/Y to $192.3M. $144.2M was spent on buybacks.
    • Shares had rallied after Xilinx posted an FQ2 beat a week ago.
    • Q3 results, PR
    | Comment!
  • 7:27 PM
    • Swift Transportation's (NYSE:SWFT) Q3 operating ratio improved 90 bps to 90.9% and adjusted operating ratio improved 110 bps to 88.2%.
    • Consolidated Average Operational Truck Count increased more than 500 trucks Y/Y.
    • Truckload Adjusted Operating Ratio improved 290 bps Y/Y.
    • Guidance: FY'14 EPS $1.29 - 1.33 vs. $1.27 consensus; FY'15 EPS $1.62 - 1.72 vs. $1.65 consensus.
    • Shares +2% AH.
    • Previously: Swift Transportation beats by $0.04, misses on revenue
    | Comment!
  • 6:32 PM
    • Four out of 5 segments reported a fall in revenue - Woods $52.1M (-3%); Irons $36.7M (-5%); Putters $13.6M (-31%); Accessories $40.8M (+2%); Golf Balls $25.2M (-3%).
    • Gross Margin improved 540 bps to 38.5%.
    • FY revenue guidance raised to $890M from $880 - 900M in-line with consensus of $891M; Gross Margin reduced to 41%; EPS $0.15 - 0.18 vs. consensus of $0.15.
    • Shares -2% AH.
    • Q3 Earnings
    | Comment!
  • 6:25 PM
    • Though it posted in-line Q3 revenue and beat EPS estimates, Freescale (NYSE:FSL) is guiding for Q4 revenue of $1.075B-$1.125B, below a $1.18B consensus. In addition, gross margin is expected to drop 75-100 bps from a Q3 level of 46.3%.
    • Freescale was among the names clocked earlier this month by fellow microcontroller vendor Microchip's warning.
    • Q3 results, PR
    | Comment!
  • 6:18 PM
    • Though its results and guidance beat expectations, Pandora (NYSE:P) reports it had 76.5M active listeners at the end of Q3, barely above the 76.4M it had at the end of Q2 and up only 5.2% Y/Y. Questions about the impact of competition are bound to come up.
    • Listener hours totaled 4.99B, -1% Q/Q and +25% Y/Y; Y/Y growth benefited from the presence of a 40-hour free mobile listening cap during part of Q3 2013. Pandora's share of U.S. radio listening rose to 9.06% in September from 8.9% in June and 7.77% a year ago.
    • Total Q3 ad revenue per thousand ad-supported listener hours (RPM) rose to $44.35 from $40.11 in Q2 and $39.68 a year ago. PC ad RPM +10% Y/Y to $64.13; mobile ad RPM +16% to $40.82.
    • The RPM gains helped ad revenue rise 44% to $194.3M. Subscription/other revenue rose 25% to $45.3M. GAAP opex rose 48% to $114.8M, and content acquisition costs (driven by royalties) 33% to $111.3M.
    • P -6.1% AH. Q3 results, PR
  • 5:58 PM
    • NetSuite (NYSE:N) guides on its Q3 CC for Q4 revenue of $154M-$156M and EPS of $0.08-$0.10 vs. a consensus of $152.3M and $0.10.
    • The cloud ERP/HR/e-commerce software vendor expects 2015 revenue of $715M-$725M, above a $706.8M consensus.
    • Q3 results, PR
    | Comment!
  • 5:51 PM
    • Along with its Q3 results, Informatica (NASDAQ:INFA) announces CFO Earl Fry is being moved over to the role of chief customer office and EVP, operations strategy. He'll now lead Informatica's customer support and professional services teams, and (in the company's words) "play an instrumental role in helping scale the business for the next growth phase."
    • Replacing Fry as CFO is Michael Berry, whose resume includes stints as the CFO of fellow enterprise software vendors SolarWinds, IO, and i2 Technologies. Fry had already announced plans to step down as CFO by year's end.
    • Informatica has guided on its Q3 CC for Q4 revenue of $290M-$305M and EPS of $0.49-$0.54 vs. a consensus of $299.6M and $0.52. Expectations were fairly low following soft numbers from Oracle, IBM, SAP, and VMware.
    • INFA +2% AH. Q3 results, PR.
    | Comment!
  • 5:42 PM
    • Top gainers, as of 5:15 p.m.: VTAE +27.2%. RUBI +22.2%. KLAC +16.9%. GIMO +14.6%. MXWL +13.9%.
    • Top losers, as of 5:15 p.m.: AMZN -12.6%. UFCS -8.5%. SYNA -7.9%. P -5.8%. ABG -5.4%.
    | Comment!
  • 5:30 PM
    • With a big Q3 beat in tow, The Rubicon Project (NYSE:RUBI) now expects 2014 revenue of $122M-$123M and EPS of -$0.06 to -$0.03, above a consensus of $118.8M and -$0.35.
    • Take rate on gross ad sales rose to 19.1% from 18.4% in Q2 and 17.1% a year ago. Ad sales related to real-time bidding (RTB) rose 75% Y/Y for the second quarter in a row.
    • Rubicon also blasted off following its Q2 beat. However, shares had largely given back those gains as of today's close.
    • Q3 results, PR
    | Comment!
  • 5:21 PM
    • Synaptics (NASDAQ:SYNA) expects FQ2 revenue of $415M-$450M vs. a consensus of $435.80M
    • SYNA -7.9% AH.
    • FQ1 results, PR
    | Comment!
  • 5:10 PM
    • QLIK expects Q4 revenue of $176M-$181M and EPS of $0.26-$0.30, below a consensus of $183.9M and $0.34.
    • Q3 license revenue (drives future services revenue) +24% Y/Y to $67.5M, a marked improvement from Q2's +11% and Q1's +2%.
    • Americas revenue rose 27% to $52.3M, European revenue 21% to $63.2M, and Rest of World revenue 48% to $15.9M.
    • Q3 results, PR
    | Comment!
  • 5:01 PM
    • Along with its Q3 results, Maxwell (NASDAQ:MXWL) has announced it's partnering with Corning (NYSE:GLW) to develop new ultracapacitor technologies.
    • The companies declare "Maxwell's expertise in ultracapacitor cell design, manufacturing processes and market-leading capacitive energy storage product designs" will be paired with  "Corning's expertise in high-performance materials, analytical capabilities and technology innovations." They aim to address tech challenges related to "energy density, lifetime, operating environment, form factor and cost."
    • MXWL +14.9% AH thanks to the partnership, its Q3 beat, and its Q4 guidance: The company expects revenue to be up "as much as" 20%-25% Q/Q. That implies a range of $49.9M-$52M, well above a $44.4M consensus. Strong demand from the Chinese hybrid bus and wind energy markets are contributing to the growth.
  • 4:59 PM
    • Edwards Lifesciences (NYSE:EW): Q3 EPS of $0.80 beats by $0.07.
    • Revenue of $607.4M (+22.6% Y/Y) beats by $61.08M.
    • Shares +5.71% AH.
    • Press Release
    | Comment!
  • 4:43 PM
    • Juniper (NYSE:JNPR) expects Q4 revenue of $1.02B-$1.08B and EPS of $0.28-$0.32, below a consensus of $1.18B and $0.41. Gross margin is expected to be in a range of 63.5%-64.5%.
    • Product revenue -10% Y/Y in Q3 to $810M, service revenue +11% to $317M.
    • Routing sales fell 12% to $533M, switch sales rose 5% to $155M and security sales declined 16% to 121M.
    • The board authorizes an increase in the share repurchase authorization by $1.1 billion.
    • JNPR -4.6% AH.
    • Q3 results, PR
  • 4:40 PM
    • In a leveraged recap, KLA-Tencor (NASDAQ:KLAC) plans to pay a $16.50/share special dividend (total value of $2.75B) by year's end. The company has also added $250M to its buyback, on top of the $1B authorization announced in July.
    • The special dividend will be largely financed by raising $2.5B in debt. KLA also expects to obtain a credit facility.
    • KLA: "The Board of Directors took a number of factors into account, including the substantial net cash on KLA-Tencor's balance sheet, the likely effects of increased leverage on the Company's ability to pursue its strategic initiatives, and the Company's ability to generate cash flows to service the Company's increased debt and fund operations and investments designed to grow the business and serve customer needs."
    • FQ1 results, PR
  • 4:30 PM
    • Microsoft's (NASDAQ:MSFT) Commercial revenue rose 10% Y/Y in FQ1 to $12.28B, nearly even with FQ4's 11% growth. Server products/services +13%; Office commercial products +5%; commercial cloud (Azure, Office 365, Dynamics cloud apps) +128%.
    • Windows Server, SQL Server, and System Center each grew by double digits, and Lync, SharePoint, and Exchange collectively saw double-digit growth. Windows volume licensing +10%.
    • Devices & Consumer revenue (boosted by the Nokia deal) +47% to $10.96B. Phone hardware revenue totaled $2.6B, down from $3.9B a year ago but above guidance of $1.9B-$2.3B. 2.4M Xboxes were sold (+102% thanks to the Xbox One launch), and Office Home/Personal subs rose by ~1.4M Q/Q to 7M+.  Surface revenue totaled $908M.
    • One soft spot: Dollar-wise, a 9% drop in D&C Licensing revenue to $4.09B more than offset a 16% increase in D&C Other revenue (inc. Web and cloud services) to $1.81B. OEM non-Pro Windows revenue fell 1%, though Windows consumer unit growth was positive.
    • Commercial Licensing made up 61% of Microsoft's gross profit, and Commercial Other (inc. cloud services) 5%. D&C Licensing accounted for 26%, and D&C Other just 2%.
    • $2.9B was spent on buybacks. The unearned revenue balance rose 11% Y/Y to $22.5B.
    • MSFT +2.8% AH. FQ1 results, PR.
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector