Market Currents

• Thursday, November 19, 2009

• 10:48 AM BofA Merrill downgrades eight chip stocks, noting inventory levels will soon overshoot demand, increasing the risk of a supply chain correction. Downgraded to Neutral: Intel (INTC -5.5%), LSI Logic (LSI -3.9%), Marvell Tech (MRVL -6.6%) and TI (TXN -3.6%). Cut to Underperform: Microchip Tech (MCHP -5.1%), Maxim Integrated (MXIM -5.3%), National Semi (NSM -6%) and Power Integrations (POWI -4.1%). Comment!

• Wednesday, November 4, 2009

• 16:43 PM Microchip Technology (MCHP): FQ2 EPS of $0.29 beats by $0.08. Revenue of $227M (-16%) vs. $218M. Sees FQ3 EPS of $0.33-0.35 vs. $0.24, on revenue of $236M-245M vs. $224M. Shares +3.7% AH. (PR) 1 Comment
• 00:10 AM Notable postmarket earnings: ALL, CSCO, CXW, DOX, EGLE, ESLR, GDP, GG, HCN, IO, MCHP, MUR, NWS, ONNN, PRU, QCOM, SHO, SVNT, THQI, WFMI 1 Comment

• Thursday, August 6, 2009

• 16:53 PM Microchip Technology (MCHP): FQ1 EPS of $0.15 beats by $0.02. Revenue of $193M (-28%) vs. $190M. Gross margin in Q1 of 51.4%. Sees Q2 EPS of $0.18-0.20 vs. $0.17. Sees Q3 revenue of $206M-214M vs. $200M. Shares +1.4% AH. (PR) Comment!
• 00:10 AM Notable earnings after Thursday's close: AGO, ALKS, BZH, CBS, CROX, CSC, DCT, ELX, EOG, HANS, HURN, IPI, LEAP, MCHP, ME, MXIM, NVDA, POM, PSA, ROVI, SAPE, SD, SQNM, VRSN, WR Comment!

• Thursday, May 7, 2009

• 16:28 PM Microchip Technology (MCHP): FQ4 EPS of $0.15 beats by $0.04. Revenue of $173M (-33.5%) in-line. Sees FQ1 EPS of $0.16 vs. $0.14. Shares -0.3% AH. (PR) Comment!
• 15:10 PM Notable earnings after Thursday's close: AGO, AIG, ALL, ATVI, BYI, CBS, CNQ, CROX, DCT, FCH, GNW, HANS, IPI, LEAP, MCHP, MRX, NHP, NVDA, PDLI, POM, PSA, RMD, SAPE, SD, SGMS, SHO, SVR, VRSN Comment!
• 00:10 AM Notable earnings after Thursday's close: AGO, AIG, ALL, ATVI, BYI, CBS, CNQ, CROX, DCT, FCH, GNW, HANS, IPI, LEAP, MCHP, MRX, NHP, NVDA, PDLI, POM, PSA, RMD, SAPE, SD, SGMS, SHO, SVR, VRSN Comment!

• Wednesday, April 8, 2009

• 16:23 PM Microchip Technology (MCHP) announced after the close that it has acquired privately held R&E International. The deal is expected to be immediately accretive to Microchip's non-GAAP earnings. Comment!

• Thursday, January 29, 2009

• 15:10 PM Notable earnings after Thursday's close: ACF, AMZN, ARBA, BRCM, CA, CB, EMN, IDTI, INFA, JNPR, KLAC, MCHP, MXIM, PKI, PMCS, QTM, RMBS, SPWRA, VAR, VSEA, WMS Comment!
• 00:10 AM Notable earnings after Thursday's close: ACF, AMZN, ARBA, BRCM, CA, CB, EMN, IDTI, INFA, JNPR, KLAC, MCHP, MXIM, PKI, PMCS, QTM, RMBS, SPWRA, VAR, VSEA, WMS Comment!

• Tuesday, January 6, 2009

• 16:24 PM Microchip Technology (MCHP): Sees FQ3 EPS of 0.23-$0.26 vs. $0.32. "General economic and semiconductor industry conditions have continued to decline..." Shares -1.5%. (PR) Comment!

• Tuesday, November 18, 2008

• 09:14 AM ON Semiconductor (ONNN) withdraws its joint bid with Microchip Technology (MCHP) to acquire Atmel (ATML) "due to the unforeseen deterioration in the semiconductor market... as well as the unprecedented weakness in the financial markets." Premarket: ATML -21%. ONNN +13%. Comment!

• Thursday, October 23, 2008

• 16:46 PM Microchip Technology (MCHP): FQ2 EPS of $0.45 beats by $0.04. Revenue of $270M (+0.6%) vs. $273M. (PR) Comment!
• 15:10 PM Notable earnings after Thursday's close: AFFX, AFL, ARBA, BNI, BUCY, CAKE, CB, CPWR, CYN, DDR, ELX, EMN, FII, FLEX, IBKR, IDTI, IM, JNPR, LSCC, MCHP, MSFT, OLN, PKI, RIO, RMBS, RVBD, SIMG, SNV, SYNA, TRMB, VAR, WDC, WEN, WFR, YRCW Comment!
• 00:10 AM Notable earnings after Thursday's close: AFFX, AFL, ARBA, BNI, BUCY, CAKE, CB, CPWR, CYN, DDR, ELX, EMN, FII, FLEX, IBKR, IDTI, IM, JNPR, LSCC, MCHP, MSFT, OLN, PKI, RIO, RMBS, RVBD, SIMG, SNV, SYNA, TRMB, VAR, WDC, WEN, WFR, YRCW Comment!