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  • Thursday, September 3, 2015

  • 7:10 PM
    • Facebook (NASDAQ:FB) has updated its Conversion Lift ad measurement tool to let marketers compare the performance of difference Facebook ads featuring the same objective, and to compare their impact across different online and offline channels. Previously, Conversion Tool could only be used to measure an advertiser's success with a test group that has seen an ad versus a control group that hasn't.
    • Facebook has also begun testing an interactive/full-screen mobile ad format (first revealed in June) that lets users browse multiple pages of photos, videos, and other material. Initial testers for the ads, which could bring much higher prices than standard News Feed ads, include Gatorade and Michael Kors.
    • Other Facebook news: 1) Facebook's Parse app development platform has released SDKs supporting IoT devices powered by chips from Intel, Texas Instruments, Broadcom, and Atmel. 2) Four Facebook apps made App Annie's list of the 10 most downloaded iOS apps since 2010: The core app (#1), Messenger (#2), Instagram (#4), and WhatsApp (#6).
    | 7:10 PM | 5 Comments
  • 6:33 PM
    • Having just launched major job cuts and still under pressure from Jana Partners to streamline, Qualcomm (NASDAQ:QCOM) is thinking of selling its Vuforia augmented reality tech unit, Re/code reports.
    • Qualcomm states Vuforia is supported by 175K+ registered developers and has powered over 20K apps. However, consumer adoption of augmented reality - apps/services melding real-world objects and computer-generated material - has generally  been subdued. Microsoft is hoping its HoloLens headset can help change that.
    • Separately, Qualcomm has shared more details about its Snapdragon 820 next-gen flagship processor, as well as the proprietary Kryo CPU cores powering it. The 820 will use a 14nm manufacturing process (likely Samsung's), and the 4 Kryo cores within it will be clocked at 2.2GHz., just slightly above the 2GHz delivered by the off-the-shelf ARM Cortex A57 cores used by the Snapdragon 810. However, thanks to architectural/process improvements, Qualcomm claims users can "expect up to 2 times the performance and up to 2 times the power efficiency when compared with the Snapdragon 810."
    • Update: Some more Qualcomm news: President Derek Aberle suggests his company is cool to the idea of splitting its chip unit from its IP licensing unit. "You have to step back and say why is that and would a separation actually solve whatever the underlying issues are that are creating the current valuation?. You have to be careful that it's not too simplistic an analysis." Qualcomm stated in July it would consider a breakup and other strategic options, after being urged to by Jana.
    | 6:33 PM | 7 Comments
  • 6:06 PM
    • After selling out of its Uganda operations last fall, Orange (NYSE:ORAN) may be close to a planned exit of Kenya as well, with reports that it's talking to a "serious buyer" in Helios Investment Partners.
    • That's according to Kenya's Treasury secretary, Henry Rotich. Orange owns about 70% of Orange Kenya, with the treasury holding the rest.
    • Orange had held unsuccessful talks with Vietnam's Viettel over selling the stake last year, as Viettel wanted Kenya to reduce its holding to give it a bigger stake.
    • Shares in Orange are up 0.5% after hours.
    | 6:06 PM | Comment!
  • 5:23 PM
    • In an SEC filing, Glu Mobile (NASDAQ:GLUU) confirms it's expanded its board to nine members, adding Greg Brandeau.
    • Brandeau, the former CTO at Walt Disney Animation Studios and former SVR of Technology for Pixar, is a class III, non-employee director at Glu.
    • Brandeau also currently serves as COO for Chromatik.
    • Shares of Glu had moved up 1.8% during market hours and are up 1.4% after hours.
    | 5:23 PM | 3 Comments
  • 5:19 PM
    • Zillow (Z, ZG) is selling its Market Leader real estate CRM software unit to a division of Canada's Constellation Software (OTCPK:CNSWF) for $23M. The deal is expected to close in early Q4.
    • The sale price is a small fraction of the $355M Trulia paid for Market Leader in 2013. Zillow announced last month Market Leader's sales fell 21% Y/Y in Q2 to $12.5M, and that it's "conducting a strategic review" for the business. Job cuts were carried out in 2014.
    | 5:19 PM | 1 Comment
  • 5:03 PM
    • Though VeriFone (NYSE:PAY) beat FQ3 estimates, it's guiding for FQ4 revenue of $510M-$513M and EPS of $0.47-$0.48, below a consensus of $521.9M and $0.51. Shares are down 1.9% after hours to $30.47.
    • Business/regional performance: A strong dollar had an 11% impact on FQ3 revenue growth (7% vs. 18%). System solutions (hardware/software) revenue +11.2% Y/Y to $333M; services +0.2% to $176.9M. North American revenue +60.7% to $208.6M; Latin America -17.4% to $73.7M; EMEA -9.2% to $172.7M; Asia-Pac -18.2% to $55M.
    • Financials: Gross margin (non-GAAP) rose 10 bps Y/Y to 41.7%. GAAP operating expenses fell 2.2% to $186.2M (lifted EPS). VeriFone ended FQ3 with $242.1M in cash, and $813.6M in debt.
    • FQ3 results, PR
    | 5:03 PM | Comment!
  • 4:42 PM
    • Down sharply from its June highs going into earnings, Infoblox (NYSE:BLOX) has jumped to $21.96 after hours after beating FQ4 estimates. FQ1 revenue guidance of $86M-$88M is above an $82.2M consensus, while (due to spending growth?) EPS guidance of $0.05-$0.06 is below an $0.08 consensus.
    • CEO Jesper Anderson notes security and cloud-related product sales were once more strong points for the DNS/IP address management hardware firm, and that large deal activity was healthy. Product/license revenue (drives future services revenue) rose 24% Y/Y to $46.3M; services revenue rose 9% to $40.7M.
    • Financials: Gross margin (non-GAAP) rose 60 bps Q/Q and Y/Y to 80.1%, and topping guidance of 78%-79%. FQ1 GM guidance is also at 78%-79%. GAAP operating expenses rose 10% Y/Y to $72.8M - sales/marketing spend totaled $44.4M, R&D $18.3M, and G&A $10.1M. Infoblox ended FQ4 with $331M in cash/investments, and no debt. Its deferred revenue balance stood at $41.7M.
    • FQ4 results, PR
    | 4:42 PM | Comment!
  • 4:32 PM
    • In its Q2 earnings report, Envivio (ENVI +2.2%) company posted a GAAP net loss of $0.6M compared with a non-GAAP net loss of $0.4M, and is making "significant progress toward profitability," said founder and CEO Julien Signès, who pointed to "accelerated momentum for large, software-only converged head-end solutions."
    • Revenue by segment: Product, $8.9M (up 0.9%) ; Professional services and support, $2.75M (up 5.8%).
    • The company secured orders from four new customers, and its first customer win for its Nuage cloud video delivery solution.
    • Gross margin increased to 70.2% from the prior year's 58.3%. Cash and equivalents at quarter's end were $34.5M.
    • Shares are flat in after-hours trading.
    • Conference call to come at 5 p.m. ET.
    • Press Release
    | 4:32 PM | Comment!
  • 4:23 PM
    • Amazon Web Services (NASDAQ:AMZN) is buying Elemental Technologies, a Portland-based provider of video encoding software for pay-TV providers, broadcasters, online video providers, and enterprises. The Information reports Amazon is paying around $500M in cash.
    • Elemental clients include ESPN, ABC, CNN, the MLB, the NBA, and BBC. In addition to software for handling live online streaming, video file conversions, bandwidth optimization, and multi-screen delivery, the company's offerings include a cloud video-processing/delivery service that leverages its software.
    • Not surprisingly, Amazon plans to pair Elemental's software with AWS' cloud infrastructure. The company promises to "provide media and entertainment companies with a range of integrated solutions," and to create "next-generation services that feature a range of solutions for customers leveraging on-premises assets, hybrid architectures, and cloud."
    | 4:23 PM | 4 Comments
  • 4:18 PM
    • Streamline Health (NASDAQ:STRM): FQ2 EPS of -$0.05 beats by $0.07.
    • Revenue of $8.6M (+18.8% Y/Y) beats by $1.37M.
    • Press Release
    | 4:18 PM | Comment!
  • 4:07 PM
    • Envivio (NASDAQ:ENVI): FQ2 EPS of -$0.01 beats by $0.05.
    • Revenue of $11.7M (+2.2% Y/Y) beats by $1.62M.
    • Press Release
    | 4:07 PM | Comment!
  • 4:06 PM
    • Infoblox (NYSE:BLOX): FQ4 EPS of $0.12 beats by $0.02.
    • Revenue of $87M (+34.0% Y/Y) beats by $6.43M.
    • Press Release
    | 4:06 PM | Comment!
  • 4:01 PM
    • Bankrate (NYSE:RATE) is up 8.6% on heavy volume after an upgrade from Stephens to Overweight, from Equal Weight, referring to a "re-emerging story with low expectations."
    • Shares had jumped Aug. 5 to close at $10.16 after the company beat expectations and raised its outlook, but the stock is just now reclaiming that level (currently at $10.44) after a late-August decline.
    • The stock had been upgraded to Hold by Zacks on Tuesday.
    • Overall, the stock is down 15.9% YTD.
    | 4:01 PM | Comment!
  • 3:01 PM
    • IBM (IBM +1.3%) is partnering with CPU core giant ARM (ARMH +1.2%) to enable devices supporting ARM's mbed IoT software/services platform to automatically register with IBM's IoT Foundation platform, and thereby access cloud-based IBM analytics services.
    • IBM: "This unifies [mbed and IoT Foundation] at the point where information gathered from deployed sensors in any connected device is delivered to the cloud for analysis.  The IoT connection also enables delivery of actionable events to control equipment or provide users with alerts or other information. For example, the triggering of an alarm message on a washing machine to ask the owner to confirm a breakdown engineer appointment if a fault is detected."
    • With ARM's CPU cores used by billions of mobile and embedded devices (and billions more on the way), a wide variety of products can be covered. In addition to analytics tools, IBM's IoT Foundation supports the development of cloud apps (through the Bluemix platform) for analyzing IoT-generated data, and security tools for protecting it.
    • ARM, meanwhile, has followed up on mbed by launching IFC, a framework for quickly creating networks of embedded, Web-connected, ARM-based devices.
    | 3:01 PM | 2 Comments
  • 2:34 PM
    • Level 3 Communications (NYSE:LVLT) is up 1.6%, building on yesterday's gain, as Macquarie lifts it to Buy as part of its telecom review.
    • The firm bumped its price target to $53, from $52. Shares closed yesterday at $45.12 and are currently at $45.81, implying near-16% upside.
    • Like Citigroup, Macquarie's Kevin Smithen and Will Clayton think the stock's decline has well outpaced the market's drop since May. More reasonable earnings estimates are coming in as well.
    • Sales churn won't materially worsen in Q3, they write, and productivity is improving somewhat.
    • "Aside from the Starbucks comp impact, demand trends in NA are very strong. Europe is also showing no signs of a macro slowdown in our view. In LatAm, forex continues to deteriorate and there are signs that the weak macro environment there is impacting enterprise demand."
    • Shares are up 5.9% over the past two days.
    • Previously: Level 3 +4.3% as Citi names it top telecom pick (Sep. 02 2015)
    | 2:34 PM | Comment!
  • 2:28 PM
    • Echoes of Adobe: Starting July 31, 2016, new commercial licenses for "most Autodesk  (ADSK -0.2%) Design & Creation Suites and individual products will be available by subscription only."
    • To make the transition easier, Autodesk promises to "offer a choice of simplified subscription plans tailored to the needs of individuals, teams or enterprises." Single-user and shared network license options will be among the options.
    • The announcement comes a week after Autodesk cut its FY16 (ends Jan. '16) guidance and reported net subscription growth slowed to 61K in FQ2 from FQ1's 95K. Subscription revenue rose 11% Y/Y during FQ2 to $319M, while license/other revenue fell 17% to $290.5M. Total subscriptions amounted to 2.39M at quarter's end.
    | 2:28 PM | Comment!
  • 1:53 PM
    • Ubiquiti (UBNT +3.2%) has refreshed its UniFi enterprise Wi-Fi hardware line with 4 access points supporting the high-speed 802.11ac standard.
    • The cheapest model, the UAP-AC-LITE, sports just an $89 MSRP. The USP-AC-LR (meant for long-range deployments, said to have an "innovative antenna design") goes for $109, the UAC-AP-PRO (supports 3x MIMO and top speeds of 1.75Gbps) for $149, and the UAP-AC-EDU (similar bandwidth/MIMO support + better voice quality, meant for campus-wide deployments) for $399.
    • CEO Robert Pera admitted on the FQ4 call (transcript) Ubiquiti had "poorly executed on [its] 802.11ac plan," with the company generating a much smaller % of its access point revenue from 802.11ac systems than rivals (e.g. Cisco, HP/Aruba, Ruckus). Nonetheless, the company's enterprise revenue (driven by Wi-Fi) was up 27% Y/Y during the quarter to $40.5M.
    | 1:53 PM | 8 Comments
  • 1:48 PM
    • Continuing its reshaping in Africa and the Middle East, Orange (ORAN -0.1%) has named CEOs for four of its units in the region.
    • Eric Bouquillon is becoming CEO of Orange Guinea, replacing Alassane Diene, who has been moved to lead Orange Mali. And Thierry Marigny was named deputy CEO of Sonatel (Senegal), replacing Jerome Henique, who has been tapped to lead Jordan Telecom.
    • All the moves take effect Sept. 13. Orange has been looking to a 20% increase in revenues from the region as it continues to invest in networks.
    | 1:48 PM | Comment!
  • 1:35 PM
    • Cowen has launched coverage on SolarEdge (NASDAQ:SEDG) with an Outperform rating and $35 target. Shares are above $27 for the first time since plunging in mid-August, thanks both to a negative post-earnings reaction and a broad market selloff.
    • SolarEdge fell as low as $15.60 during the short-lived Aug. 24 market crash. Shares currently trade for a moderate 13x an FY17 (ends June '17) EPS consensus of $2.08. FY16 and FY17 revenue growth consensus forecasts are respectively at 45.8% and 21.9%.
    | 1:35 PM | Comment!
  • 1:23 PM
    • Though the Nasdaq is up moderately, Ambarella (NASDAQ:AMBA) is adding to yesterday's big post-earnings losses. A downgrade to Market Perform by Barrington Research could be contributing.
    • GoPro (NASDAQ:GPRO) is once more following Ambarella lower, as the latter's guidance (though attributed to camera launch timings) continues fueling concerns about the action camera market's growth. Stifel says it's now taking a "more conservative view" on GoPro's 2016 sales.
    • Ambarella is now down 14% from Tuesday's close, and 41% from a July peak of $129.19. YTD, shares are still up 51%. GoPro, on the other hand, is down 38% YTD, and close to a 52-week low of $37.13.
    • Though still not low, multiples have compressed from prior sky-high levels: Ambarella now trades for 22x an FY17 (ends Jan. '17) EPS consensus of $3.60, and GoPro for 19x a 2016 EPS consensus of $2.10. Each company is expected to see ~21% revenue growth in its next fiscal year.
    | 1:23 PM | 23 Comments
  • 12:50 PM
    • Crossroads (NASDAQ:CRDS) has shot higher post-earnings in spite of delivering an FQ3 miss. Shares were down 62% YTD going into earnings.
    • Possibly helping: EVP Mark Hood stated on the earnings call (transcript) FQ4 product orders have already almost matched FQ3 levels. A $140K order from Major League Baseball for Crossroads' StrongBox NAS archiving appliances was mentioned, as was a $150K order from Mercedes-Benz for the SPHiNX virtual tape system.
    • Regarding litigation, CEO Rick Coleman stated the U.S. Patent Trial & Appeals Board (PTAB) will hear oral arguments for a review of Crossroads patent claims on Oct. 30, and that the first decision is due in late January. He noted the company recently settled with Huawei (terms are confidential), while stating the deal "recognizes the substantial value of our intellectual property."
    • FQ3 details: Product revenue fell by $84K Y/Y to $516K. IP license, royalty, and other revenue rose by $141K to $1.63M. GAAP operating expenses rose 37% Y/Y to $4.6M. Crossroads ended FQ3 with $7.3M in cash, and $2.7M in debt.
    • FQ3 results, PR
    | 12:50 PM | Comment!
  • 12:43 PM
    • Frontier Communications (NASDAQ:FTR) is up 5.6%, getting a boost from becoming Macquarie's new top telecom pick fresh off FCC approval of Frontier's takeover of some of Verizon's wireline operations.
    • Poring through Frontier's 8-K on the Verizon ops in California, Florida and Texas, Macquarie's Kevin Smithen sees a return to growth in operating revenues, part of "vastly improved" results that should allow for more attractive terms on the company's bond deal.
    • Adjusted EBITDA margins were increasing 130 bps from the prior quarter to 30.4%, while free cash flow of $330M for the first half was up $286M from the prior year.
    • Frontier shares are down 17.2% YTD but have gained 9.6% over the past couple of days.
    | 12:43 PM | 3 Comments
  • 12:18 PM
    • ComScore (NASDAQ:SCOR) is up 5.7% after this week's sharp decline (-17%), amid some bullish sentiment at Needham and Brean Capital.
    • Needham reiterated its Buy rating and $66 price target. Shares closed yesterday at $44.37 and are trading currently at $46.90, implying more than 40% upside.
    • Meanwhile, Brean reiterated its own buy rating and a $67 price target, calling this week's movement an "overreaction" to Monday's Wall Street Journal piece on nonmonetary transactions.
    • ComScore's accounting is in line with GAAP, Todd Mitchell notes, and "the impact on 2Q15 results highlighted in the WSJ was much greater than it will be on full-year 2015 results."
    • The company "should be able to hold EBITDA margin flat despite offsetting this non-monetary revenue with a matching charge to COGS," Mitchell writes.
    | 12:18 PM | 1 Comment
  • 12:16 PM
    • Initially down sharply following its mixed FQ3 results, Ciena (CIEN +2.8%) has reversed course.
    • Possibly helping: On the earnings call, CEO Gary B. Smith downplayed the carrier project delays blamed for Ciena's FQ3 sales miss, stating overall demand remains healthy and that top customer AT&T isn't among the delaying firms. ""It is three or four carriers, and I think it is temporary in nature."
    • Also: Ciena says it now expects FY15 (ends in October) op. margin to exceed 10%, predicts the Cyan acquisition will be accretive to FQ4 results, and states the revenue contribution for Cyan's packet-optical hardware and SDN software is "strong." Adjusted op. margin rose 170 bps Y/Y in FQ3 to 11.8%.
    • Ciena's FQ3 results, guidance/details/COO announcement
    | 12:16 PM | 1 Comment
  • 11:52 AM
    • Priceline (PCLN +1%) is acquiring AS Digital, an Australian provider of restaurant table/reservation management software called ResPAK and a restaurant-booking site known as are undisclosed.
    • Priceline states ResPAK is used by thousands of restaurants in 40+ countries. It plans to integrate AS Digital with OpenTable (acquired last year), and declares the purchase will "accelerate OpenTable's entry into the Australian market and expand its operations in Japan and across the Asia Pacific region."
    | 11:52 AM | 1 Comment
  • 11:27 AM
    • Canadian Solar (CSIQ +2.7%) has landed 5 solar projects in Pirapora, Brazil. They're expected to reach commercial operation by mid-2017.
    • Power generated by the projects will be sold to a government entity, through a 20-year agreement featuring an electricity price of ~$84/MWh. Canadian adds it will "short list potential equity partners for these projects and believes that it can make adequate developer margins should it decide to sell them."
    • Shares are higher on a good day for solar stocks. As of the end of Q2, Canadian had a 2.4GW pipeline of late-stage utility-scale solar projects.
    | 11:27 AM | 1 Comment
  • 11:10 AM
    • Believing its valuation now "suggests limited downside," Piper's Gene Munster has upgraded eBay (EBAY +1.8%) to Neutral. His target is $30.
    • In spite of the upgrade, Munster still expects further share losses to the likes of Amazon, is critical of eBay's shopping experience, and argues secular e-commerce trends have been working against the company. He thus considers "a return to general industry growth levels" unlikely.
    • Munster: "While historically consumers have used the internet for price discovery and comparison, we believe that eCommerce has matured such that consumers are more intrigued with eCommerce as a convenience method of shopping. This is disadvantageous to eBay’s experience, which requires some level of hunt-and-peck shopping. Consumers have also come to appreciate the consistency of models like Amazon and retailers, who often have set order, shipping and return policies that give consumers comfort and ease of transaction. Finally, the conciseness of the leading eCommerce experiences are making the full process of hunting for items, checking terms & conditions, and ordering relatively less appealing to consumers."
    • Shares are higher on a day the Nasdaq is up 1%.
    | 11:10 AM | 6 Comments
  • 10:44 AM
    • UniPixel (NASDAQ:UNXL) has shipped touch sensor engineering samples that will be used in touch panels to be evaluated by an unnamed Asian tier-1 PC OEM for potential use in a 13.3" notebook.
    • UniPixel: "The engineering samples feature UniPixel's XTouch touch sensor technology with its new hybrid-metal plating process and Diamond Guard resin coating. The hybrid-metal plating further improves the visual appearance of the XTouch sensors, and is expected to further enhance robustness of the sensor under extreme environmental stress conditions."
    • Shares have received a boost from the announcement, but remain down 79% YTD. The company's market cap is at $17M.
    • Previously: PC OEM places XTouch pre-production order
    | 10:44 AM | 3 Comments
  • 10:22 AM
    • Looking to calm investors on edge over the company's balance sheet, cash flow profile, and future fund-raising ability, SunEdison (NYSE:SUNE) CEO Ahmad Chatila tells Bloomberg cash generated from assets owned by the company's TerraForm Power and TerraForm Global YieldCos will likely begin reaching the parent company by late 2015 or early 2016.
    • Regarding the pending Vivint Solar (VSLR +2.2%) acquisition, Chatalia declined to comment on speculation SunEdison's recent nosedive will scuttle the deal, and suggested he expects it to close as planned in Q4. "We came late into residential and to compete you really have to have scale ... I’m very enthusiastic about the Vivint team.”
    • Previously: Chatila, other SunEdison execs/directors buy shares following plunge
    | 10:22 AM | 6 Comments
  • 10:06 AM
    • Major shareholders in Appia -- acquired by Digital Turbine (APPS -2.7%) in March -- have agreed to an extended lock-up on their APPS shares, by 45 days to Oct. 17.
    • The shareholders (Trident Capital, Venrock Associates, Noro-Moseley Partners, Relay Ventures and the Wakefield Group) were granted the right to take part in any public offering that Digital Turbine undertakes before the third tranche lock-up expiration, in March 2016.
    • More than 90% of the shares of former Appia sharehodlers are subject to either the lock-ups to Oct. 17 or to the company's restrictions on insider trading, Digital Turbine says.
    | 10:06 AM | Comment!
  • 10:00 AM
    • Ciena (NYSE:CIEN) has sold off after missing FQ3 revenue estimates and beating on EPS. The company suggests "short-term revenue headwinds related to the timing of network implementations at certain large service provider customers" are to blame for the top-line miss.
    • FQ4 guidance is for revenue of $665M-$700M, above a $662.8M consensus. However, the outlook reflects a full quarter's contribution from the Cyan acquisition (closed in early August), something that might not be accounted for by all analyst estimates.
    • Along with the numbers, Ciena has appointed Francois Locoh-Donou, the SVP of its Global Products Group since 2011, to the newly-created position of COO, effective Nov. 1. Locoh-Donou will "assume responsibility for Ciena's Global Field Organization, including the global sales and services functions, while retaining his existing responsibility for research and development, product line management, supply chain and network integration functions."
    • CEO Gary B. Smith states the COO position was "created to facilitate greater organizational alignment between our product and customer teams." The move comes shortly after Ciena announced sales chief Philippe Morin is stepping down.
    • Segment performance: FQ3 converged packet optical (integrated Ethernet/optical networking gear) revenue +7% Y/Y to $408M. Packet networking (Ethernet switches) -18% to $57.2M. Optical transport -44% to $17.5M. Software/services -1% to $120.2M. The U.S. was 59.8% of revenue, and one customer (AT&T?) made up 20% of revenue.
    • Financials: Boosting EPS: Adjusted gross margin was 45.3%, up 90 bps Q/Q and 100 bps Y/Y, and above guidance of 43%; FQ4 guidance is at 44%. Also helping: Adjusted operating expenses fell 2% Y/Y to $202.1M. Ciena ended  FQ3 with $927M in cash/investments, and $1.46B in long-term debt.
    • FQ3 results, PR
    • Update (12:17PM ET): Ciena is now up 3% post-earnings. Earnings call commentary could be helping.
    | 10:00 AM | Comment!
  • 9:39 AM
    • Scripps Networks Interactive (SNI +0.6%) has completed its tender offer for all the shares of Poland's TVN, acquiring 46% of shares for 3.134B zloty (about $833.1M).
    • That's added on to its existing 52.7% stake acquired earlier this year from ITI and Canal Plus. With 98.8%, SNI will squeeze out to acquire the remainder.
    • With its offer to take on the rest of the Polish broadcaster under way, Scripps Networks had guided in its last earnings report for revenues to increase 12%.
    • Previously on Scripps Networks/TVN
    | 9:39 AM | Comment!
  • 9:38 AM
    • Diodes (NASDAQ:DIOD) is acquiring connectivity/timing IC vendor Pericom Semi (NASDAQ:PSEM) for $17/share, or $400M, in cash. The price represents a 40% premium to Pericom's Wednesday close.
    • The purchase is expected to be immediately accretive, and be financed in large part by debt - Diodes recently upped its credit facility by $200M. It's expected to close in Q4.
    • Diodes CEO Keh-Shew Lu: "This transaction broadens Diodes' analog footprint and adds a strong mixed-signal connectivity offering that will drive expanded product content in target market applications. Also, Pericom's extensive timing product lines complement Diodes' standard product portfolio and broaden our analog footprint." Like Diodes, Pericom is exposed to a wide variety of consumer electronics, networking/telecom, and enterprise IT end-markets.
    • Pericom is halted. Diodes has moved higher.
    • Update (10:04AM ET): Pericom has resumed trading, and is up 37.5% to $16.75.
    | 9:38 AM | 1 Comment
  • 9:20 AM
    | 9:20 AM | Comment!
  • 9:15 AM
    • Less than two months after TechCrunch reported a deal could happen, Verizon-owned (NYSE:VZ) AOL has announced it's acquiring mobile ad network owner Millennial Media (NYSE:MM) for $1.75/share, or $248M. The price represents a 30.6% premium to Millennial's Wednesday close, but is still well below a 52-week high of $2.40, and over 90% below Millennial's 2012 highs.
    • The deal expands AOL's supply-side (publisher-facing) mobile ad footprint, including within international markets. Millennial claims over 65K apps are on its platform, and that it has over 800M "proprietary, anonymous user profiles" for ad targeting. It follows AOL's display ad deal with Microsoft, and comes ahead of the launch of Verizon's Go90 mobile video service.
    • For Millennial, the deal provides an exit for a company that has been losing mobile ad share to the likes of Google, Facebook, Apple, and Twitter. It's expected to close this fall.
    • MM +30% to $1.74.
    | 9:15 AM | 6 Comments
  • 7:03 AM
    • Ciena (NYSE:CIEN): FQ3 EPS of $0.37 beats by $0.03.
    • Revenue of $602.93M (-0.1% Y/Y) misses by $26.94M.
    • Press Release
    | 7:03 AM | 2 Comments
  • 7:02 AM
    • Xcerra (NASDAQ:XCRA): FQ4 EPS of $0.16 beats by $0.03.
    • Revenue of $102.07M (-9.4% Y/Y) misses by $0.16M.
    • Press Release
    | 7:02 AM | Comment!
  • 6:51 AM
  • 6:31 AM
    • Methode Electronics (NYSE:MEI): FQ1 EPS of $0.60 beats by $0.06.
    • Revenue of $203.3M (-6.8% Y/Y) misses by $5.93M.
    • Press Release
    | 6:31 AM | Comment!
  • 3:09 AM
    • Toshiba (OTCPK:TOSYY) is likely to post a net loss of about ¥10B ($83M) when it reports its upcoming annual earnings, Yomiuri reports, citing the first figure of how deep the Japanese conglomerate's loss will be.
    • Tarnished by a $1.2B accounting scandal, Toshiba postponed its annual results for a second time on Monday, citing the discovery of new accounting errors.
    • If the company does not report earnings by September 7, it will become at risk of being delisted.
    • Previously: Toshiba delays earnings report again (Aug. 31 2015)
    | 3:09 AM | Comment!
  • 2:13 AM
    • Sony Pictures (NYSE:SNE) has reached a settlement with former employees in a lawsuit related to the massive data breach it suffered almost a year ago.
    • The federal lawsuit, which is still pending class-action status, is a combination of seven different suits brought by nearly 50K current and former employees whose personal, financial and medical information were posted online.
    • Additional details about Sony's settlement are expected to be filed by mid-October.
    | 2:13 AM | Comment!
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