Today, 12:48 PM
- CRAY has surged above $31 after beating Q1 EPS estimates (while slightly missing on revenue). The supercomputer/high-perofrmance storage provider has reiterated full-year sales guidance (back-end loaded, as usual) of $715M (consensus is at $716.9M), but has also forecast Q2 revenue of $130M (above a $118.2M consensus and good for 39% Y/Y growth).
- Full-year gross margin guidance is at 35%, while operating expense guidance has been hiked by $20M to $195M. GM fell 300 bps Y/Y in Q1 to 30%; operating expenses rose by $500K to $37.8M.
- Shares remain down 10% YTD following a steep late-February/early-March selloff.
- Q1 results, PR
Yesterday, 4:11 PM
Mon, May. 4, 5:35 PM
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Thu, Apr. 9, 2:45 PM
- Intel (NASDAQ:INTC) has awarded Cray (CRAY +0.7%) a subcontract to integrate/deliver two next-gen supercomputers and related storage for a facility at the DOE's Argonne National Laboratory (located in Illinois).
- One of the systems, known as Theta, will be based on Cray's existing XC supercomputer line, have a peak performance of more than 8 petaflops, and is expected to be delivered in 2016. The other, known as Aurora, is based on Cray's next-gen supercomputer line (codenamed Shasta), and will have a peak performance 180 petaflops; delivery is expected in 2018.
- Cray adds Shasta will feature a next-gen architecture that can be "configured to address a broad range of compute and data-intensive workflows." It will run on Intel Xeon server CPUs, and also leverage the chip giant's Xeon Phi HPC co-processors and Omni-Path high-speed interconnect (an alternative to the widely-used InfiniBand).
- Cray cautions "a range of positive financial outcomes exist with this contract due to multiple options associated with the various deliverables and funding including a separate R&D contract." Aurora delivery depends on the "anticipated" exercising of a contract option.
Tue, Mar. 31, 3:11 PM
- Only a handful of tech companies are posting outsized gains or losses amid a 0.6% drop for the Nasdaq.
- Notable gainers include three Chinese firms: CDN owner ChinaCache (CCIH +18.8%), online classifieds provider 58.com (WUBA +7.1%), and online retailer LightInTheBox (LITB +5.9%). Others include hybrid storage array upstart Nimble Storage (NMBL +4.7%), distributed power system/software provider PowerSecure (POWR +5.8%), and 3D measurement/imaging hardware provider FARO Technologies (FARO +4%).
- Notable decliners include supercomputer maker Cray (CRAY -4.1%), data management software vendor Varonis (VRNS -3.9%), and local services marketplace Angie's List (ANGI -5.6%).
- ChinaCache is up 34% since posting Q4 results on Thursday afternoon. 58.com is up 14% from Wednesday's close. Nimble is a day removed from putting to rest a fraud/trade secret dispute with rival NetApp. Angie's List is down 7% over the last two days, following the launch of Amazon's Home Services platform.
- Oppenheimer's Holden Lewis recently called FARO his top pick, citing the growth potential of its laser scanner line. Today, FARO announced a new software product for Autodesk's Revit building information modeling software.
- Previously covered: Infinera, Elephant Talk, Dangdang, CyberArk, Zagg, MaxPoint, Spherix, 2U, SouFun/E-House/Leju
Tue, Mar. 24, 2:34 PM
- Cray (CRAY +0.7%) is supplying an XC40 supercomputer to oil/gas seismic services firm Petroleum Geo-Services (OTCPK:PGSVY -2.1%), as well as a Sonexion 2000 scale-out storage system. The hardware is expected to be deployed in 2015.
- The supercomputer, which delivers 5 petaflops of performance, is said to be "one of the largest systems Cray has delivered to a commercial customer, and among the largest supercomputers deployed in the commercial sector." PGS will use it to run seismic processing/imaging apps, including imaging algorithms run against an advanced seismic survey.
- Cray remains down about $2 from where it traded before providing a Q4 beat and in-line 2015 guidance on Feb. 12.
Tue, Mar. 10, 3:10 PM
- With the Nasdaq down 1.4%, a long list of tech names are posting major declines. Meanwhile, only a handful of tech companies are up more than 2%.
- Notable decliners include hard drive giant Seagate (STX -4.4%), VoIP service/app provider magicJack (CALL -5.6%), telecom equipment maker Comtech (CMTL -8.8%), flash controller IC vendor Silicon Motion (SIMO -5.2%), Wi-Fi hardware vendor Ruckus (RKUS -8.7%), online ad retargeting platform Criteo (CRTO -5.1%), haptic tech developer Immersion (IMMR -6.4%), supercomputer maker Cray (CRAY -4.6%), online coupon code provider RetailMeNot (SALE -5.5%), and solar plays JinkoSolar (JKS -5.6%), Daqo (DQ -9.8%), and Enphase (ENPH -8.9%).
- Immersion has more than given back the Monday gains it saw after Apple, which relies on a proprietary haptic solution that some think infringes on Immersion's IP, unveiled a 12" retina MacBook with a pressure-sensitive trackpad. Solar stocks are reversing course after rallying in recent weeks with the help of good earnings news and YieldCo hopes.
- Previously covered: Cybersecurity stocks, Canadian Solar/ReneSola, Qihoo, Electronic Arts
- Notable gainers: Nvidia, MicroVision, Energous, Weibo
Mon, Feb. 23, 3:04 PM
- Today's notable tech gainers include video processor supplier Ambarella (AMBA +5.1%), online retailer Overstock (OSTK +6.5%), Web toolbar/mobile ad services firm Perion (PERI +4.3%), data center switch vendor Arista (ANET +3.2%), and cloud contact center software provider InContact (SAAS +3.9%).
- Notable decliners include supercomputer maker Cray (CRAY -7.2%), 3D printer maker ExOne (XONE -4.5%), Chinese mobile game publisher Sky-mobi (MOBI -6.6%), demand-side online ad platform Rocket Fuel (FUEL -7.9%), auto site TrueCar (TRUE -4.3%), online flash sales provider Zulily (ZU -4.2%), online health insurance agency eHealth (EHTH -9.7%), and data center services provider Datalink (DTLK -4.9%). The Nasdaq is close to breakeven.
- Arista is adding to Friday's post-earnings gains, which were aided by upbeat analyst commentary. Rocket Fuel and TrueCar are adding to Friday's post-earnings losses (I, II) - TrueCar released February sales estimate data today for a number of automakers.
- Previously covered: Cybersecurity stocks, Digital Ally, TowerJazz, 500.com, Russian tech/telecom stocks, TubeMogul, RGS Energy, Computer Sciences
Thu, Feb. 12, 11:54 AM
- Cray (CRAY -0.8%) is guiding for Q1 revenue of $80M (in-line with consensus) and full-year revenue of $715M (close to a $714.8M consensus), with 40%-45% of 2015 sales occurring in Q4 (a slightly lower % than in recent years).
- 2015 gross margin is expected to be around 35% (it was 34% in 2014), and op. margin is expected to improve "significantly." The full-year tax rate is only expected to be 10%.
- On the CC (transcript), CEO Peter Ungaro mentioned Cray still has "work left to do to secure new wins for 2015," while insisting his company is "in really good shape" to do so. He talked up recent supercomputer wins against IBM, and suggested the sale of IBM's x86 server unit to China's Lenovo helped Cray win a deal with the NOAA.
- Ungaro added Cray has "signed a number of contracts" for major installations of its Sonexion scale-out/high-performance storage systems, and is targeting non-Cray HPC deployments with its Cluster Connect solution. He admitted Cray "still [hasn't] cracked the code yet" for growing Urika analytics system sales, in spite of "good engagement with customers."
- Shares were off sharply in early trading, but have since rebounded.
- Q4 results, PR
Wed, Feb. 11, 4:17 PM
Tue, Feb. 10, 5:35 PM
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Fri, Jan. 30, 4:51 PM| Comment!
Fri, Jan. 9, 9:43 AM
- Stating it "did not complete all of the system acceptances necessary to achieve our 2014 guidance," Cray (CRAY -0.8%) expects to report 2014 revenue of ~$560M, below prior guidance of $600M and a $601.3M consensus.
- However, it also forecasts 2015 revenue of ~$715M, above a $669M consensus and good for 28% Y/Y growth. 40%-45% of the year's sales are expected to come in Q4; Q1 revenue is expected to be around $80M.
- Full-year gross margin is expected to be around 35%, and opex around $190M. "Based on this outlook, we expect to improve our GAAP and non-GAAP operating profit margin significantly for 2015."
- The supercomputer maker adds it's "evaluating the potential release of all or a portion of the reserve held against its remaining U.S. Federal deferred tax assets, which if made would likely result in a significant tax benefit for 2014 for GAAP accounting purposes."
Nov. 14, 2014, 11:34 AM
- The Department of Energy has awarded $325M in contracts to IBM (IBM +0.6%) to create two GPU-accelerated supercomputers declared to be at least 3x more powerful than any existing system.
- The systems will rely on IBM's Power CPUs, Nvidia's (NVDA +0.5%) Tesla GPUs and NVlink GPU interconnects, and Mellanox's (MLNX +2.1%) 100Gb/s InfiniBand interconnects. Installation is expected in 2017.
- IBM asserts the systems will lower energy consumption by limiting data movement. The deal acts as a nice reference win for Power - Big Blue is trying to stem Power's share losses to Intel's Xeon CPUs by selling to 3rd-party server OEMs and licensing the architecture to other chip developers. Its powerful Power8 CPU (12 cores supporting 96 simultaneous threads) began shipping earlier this year.
- Separately, the DOE says it will invest $100M in FastForward2, an R&D program to create more powerful/energy-efficient supercomputers. IBM, Nvidia, Intel, AMD, and supercomputer maker Cray (CRAY +0.1%) are among the companies taking part.
- PRs: IBM, Nvidia, Mellanox
Oct. 28, 2014, 4:52 PM
- Going into its all-important fourth quarter (responsible for over half of annual sales) CRAY still expects full-year revenue of ~$600M, albeit while cautioning "a wide range of results remains possible." Consensus is at $600.5M.
- The completion of a major order from a European weather-forecasting center boosted Q3 sales. Gross margin fell to 31% from 39% a year ago, while opex rose 10% to $39.8M.
- Q3 results, PR
Oct. 28, 2014, 4:08 PM
CRAY vs. ETF Alternatives
Cray Inc designs, develops, and supports high-performance computer systems, commonly known as supercomputers and/or clusters, and provide storage solutions, software and engineering services related to HPC systems.
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