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GTAT

GT Advanced Technologies, Inc.

6/19/2013, 2:32 PM ET

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Friday, June 14, 2:36 PM LED equipment makers Veeco (VECO -2.4%) and GT Advanced (GTAT -3.2%) slump after Goldman downgrades Rubicon to Sell, while stating checks indicate the potential for 25%-30% ASP declines for 6" LED wafers. LED wafer makers such as Rubicon depend on manufacturing gear from Veeco and GT Advanced. Comment! [Tech, On the Move]
Tuesday, June 11, 10:40 AM Volatile solar stocks head south (TAN -4%) after LDK Solar (LDK -8.5%) beat Q1 revenue estimates by $7.1M, but missed EPS forecasts $0.25 thanks to a -57% gross margin (-42.7% exc. a $15.1M inventory write-down), and provided somewhat disappointing revenue guidance. JKS -5.5%. TSL -4.9%. JASO -6.2%. DQ -4.8%. SPWR -4.4%. FSLR -4.9%. YGE -5.2%. GTAT -3.6%. FSLR -4.9%. LDK ended Q1 with $174M in cash, $182M in pledged bank deposits, and a whopping $2.6B in debt. (SolarCity) Comment! [Tech, On the Move, Earnings]
Friday, June 7, 4:20 PM GT Advanced (GTAT) -2.8% AH after filing a $50M mixed shelf. The struggling solar/LED equipment maker only says it will use the proceeds for "general corporate purposes." GT had $320.2M in cash and $259.6M in debt on its balance sheet at the end of Q1, or a net cash balance of $60.6M. That's down from a net cash balance of $275.9M a year earlier. 1 Comment [Tech, On the Move]
Wednesday, June 5, 5:30 PM After-hours top gainers, as of 5:15 p.m.: RJET +4%. GTAT +4%. CQB +4%. LIOX +3%. COHU +3%.
After-hours top losers: PAY -12%. ASNA -10%. VRA -8%. FRAN -7%. ACTV -5%. Comment! [On the Move]
Thursday, May 16, 5:56 PM GT Advanced (GTAT +3.1%) has acquired "substantially all of the business" of Thermal Technology, a developer of thermal/vacuum equipment used to touchscreens, LEDs, medical devices, and other products. GT is issuing 3.4M shares (current value of $14.6M) to buy Thermal. The company asserts Thermal's annealing tech will help it develop sapphire manufacturing gear, and its spark plasma sintering tech has medical, space, and hybrid car applications. This seems an effort to diversify a bit from the slumping LED/solar equipment markets. Comment! [Tech, M&A]
Wednesday, May 15, 2:50 PM Apple (AAPL -4.2%) roundup: Tiger Global joined the unrelated Tiger Management in selling Apple shares in Q1, lowering its stake to 260K shares from a prior 1.05M (13F). 2) According to the iRumor mill's latest updates, the retina iPad Mini will have the same resolution (2048x1536) and processor (A6X) as the retina 4th-gen iPad; the iPhone 5S will replace the tradition home button with a touch-sensitive sapphire button (a positive for GTAT); and the iPhone 5S will have an improved camera to go with a fingerprint sensor. 3) The DOJ accuses Apple of being the ring-master in an e-book price-fixing scheme (previous); Apple calls the accusation "absurd." 4) Joe Weisenthal observes Apple's price movements have correlated some with gold's. 20 Comments [Tech, On the Move]
Monday, May 13, 3:59 PM The rest of the top 25 heavily shorted S&P 1500 stocks: ESI, GTAT, DGIT, LQDT, WRLD, JCP, GME, FRAN, SVU, ONE, AKS, CRR, EBIX, DDD, SPF, DMND, DECK, BKS, COCO, X. 7 Comments
Monday, May 13, 11:27 AM SolarCity (SCTY +18.6%) is skyrocketing ahead of today's Q1 report - does someone know something? - and many other solar peers are also doing pretty well (TAN +4.5%). SOL +9.8%. CSIQ +11.6%. WFR +8%. LDK +9.3%. JASO +5.4%. SPWR +4.8%. FSLR +4.5%. GTAT +5.2%. JKS +7.9%. Short interests for many industry names remain sky-high: SolarCity had 16.6% of its float shorted as of April 30. SunPower was at 29.9%, First Solar 33.4%, and GT Advanced 34.8%. 4 Comments [Tech, On the Move]
Thursday, May 2, 12:59 PM Midday top 10 gainers: IFT +46%. BBW +32%. STAA +26%. YELP +25%. RTK +19%. NETE +17%. ATTU +17%. OMG +16%. MTSN +15%. TOWR +13%.
Midday top 10 losers: NBL -72% (split). AVNW -15%. CIG -15%. SMA -15%. DXPE -14%. SAM -12%. LCUT -11%. AZK -10%. GTAT -10%. NEWP -9%. Comment! [On the Move]
Thursday, May 2, 10:28 AM Veeco (VECO -2.8%), Aixtron (AIXG -1.3%), and Rubicon (RBCN -0.7%) slump after the Shenzhen, China government reportedly ends a 7-year, $21B LED incentive plan that helped make the city China's LED manufacturing capital. Notable Calls observes sell-side firms have named Chinese subsidy cuts as a risk for Veeco (I, II, III). Shares might also be pressured by GT Advanced's (GTAT -7.3%) revenue miss and light 2013 guidance - GT only saw $16.6M in new orders in Q1, and removed $356M worth of sapphire furnace orders from its backlog that considers at-risk. (LED equipment price cuts) Comment! [Tech, On the Move]
Wednesday, May 1, 5:37 PM After-hours top gainers, as of 5:15 p.m.: IFT +27%. REGI +18%. YELP +10%. HALO +8%. ISSI +7%.
After-hours top losers: NSPR -7%. GTAT -7%. BRCD -5%. GLUU -5%. CNW -4%. Comment! [On the Move]
Wednesday, May 1, 5:17 PM Tech guidance roundup: 1) Glu Mobile (GLUU - earnings) expects Q2 revenue of $16.5M-$17.5M and EPS of -$0.06 to -$0.07, below a consensus of $20.3M and -$0.04. 2013 guidance is for revenue of $84M-$88.5M and EPS of -$0.12 to -$0.14, below a consensus of $88.8M and -$0.11. 2) GT Advanced (GTAT - earnings) expects 2013 revenue of $500M-$600M and EPS of $0.25-$0.45 vs. a consensus of $524.8M and $0.28. Backlog -32% Q/Q in Q1 to $851M. 3) Rovi (ROVI - earnings) expects FQ2 revenue of $630M-$660M and EPS of $1.95-$2.25 vs. a consensus of $646.1M and $2.07. GLUU -4.7% AH. GTAT -6.7%. ROVI nearly unchanged. (Glu PR) (GT Advanced PR) (Rovi PR) Comment! [Tech, Earnings, On the Move]
Wednesday, May 1, 4:17 PM GT Advanced Tech. (GTAT): Q1 EPS of -$0.07 beats by $0.07. Revenue of $57.8M misses by $0.98M. Shares -2.3% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Wednesday, May 1, 12:10 AM Notable earnings after Wednesday’ s close: ALL, ARI, ARR, ATML, ATO, ATW, AXLL, AXTI, BKD, BMR, CACI, CAR, CBS, CJES, CNQR, CSOD, CVD, CVI, CVRR, CWT, CXO, DVR, DX, DXCM, DXPE, EDMC, ESS, EXPD, EXXI, FB, FNF, FRT, G, GLUU, GNK, GTAT, HNSN, HR, IPI, IPXL, IVR, JDSU, KIM, LNC, LOCK, LVS, MAC, MAR, MET, MUR, NAVB, NGD, NLY, NTRI, PHH, POL, PRU, PSE, PXD, QUIK, ROVI, SAM, SFLY, SGMO, SLTM, SNCR, STX, TEG, TGI, TPC, TSO, TTEK, UAN, UNM, V, VVC, WES, WLT, YELP Comment! [Earnings]
Tuesday, April 30, 5:35 PM Notable earnings after Wednesday’ s close: ALL, ARI, ARR, ATML, ATO, ATW, AXLL, AXTI, BKD, BMR, CACI, CAR, CBS, CJES, CNQR, CSOD, CVD, CVI, CVRR, CWT, CXO, DVR, DX, DXCM, DXPE, EDMC, ESS, EXPD, EXXI, FB, FNF, FRT, G, GLUU, GNK, GTAT, HNSN, HR, IPI, IPXL, IVR, JDSU, KIM, LNC, LOCK, LVS, MAC, MAR, MET, MUR, NAVB, NGD, NLY, NTRI, PHH, POL, PRU, PSE, PXD, QUIK, ROVI, SAM, SFLY, SGMO, SLTM, SNCR, STX, TEG, TGI, TPC, TSO, TTEK, UAN, UNM, V, VVC, WES, WLT, YELP 2 Comments [Earnings]
Monday, April 29, 2:34 PM LED stocks outperform as the Energy Savings and Industrial Competitiveness Act gets introduced in the Senate. The bill, which provides incentives and mandates to get the federal government and businesses to adopt energy-saving technologies, doesn't feature loan program provisions that had led prior bills to draw heat from Congressional Republicans. Last year, Pres. Obama authorized $2B in spending on energy efficiency upgrades for federal buildings. CREE +2.4%. LEDS +15.9%. RBCN +2.2%. GTAT +6.8%. (bill text) (summary) 2 Comments [Tech, On the Move]