Thu, May 14, 2:23 PM
- optionMONSTER reports strong call-buying activity for both Chinese online video leader Youku (YOKU +16.8%) and Korean analog/mixed-signal chipmaker MagnaChip (MX +7.2%).
- More than 3,400 Youku calls expiring May 22 and sporting a $21 strike price have been bought, as have 2,800 calls expiring tomorrow and sporting a $20.50 strike price. The calls were all out of the money going into today. About 3,500 MagnaChip September calls sporting a $7.50 strike price (still out of the money) were bought yesterday at prices ranging from $0.65-$0.75.
- Youku, quite volatile this year, is now up 92% from a March 31 low of $11.85. MagnaChip, though still down sharply YTD thanks to a February crash that followed the end of its accounting review, is now up 29% from a May 5 close of $5.08.
Tue, May 12, 3:12 PM
- Today's notable tech gainers include insurance software/data exchange provider Ebix (EBIX +5%), Chinese polysilicon maker Daqo (DQ +6.9%), networking SRAM maker MoSys (MOSY +7.7%), enterprise mobility management software firm MobileIron (MOBL +6.3%), U.S. solar installer Solar3D (SLTD +4.3%), and Korean analog/mixed-signal chipmaker MagnaChip (MX +5.3%).
- Notable decliners include Chinese online retailers JD.com (JD -4.4%) and Vipshop (VIPS -5%), Chinese Internet mini-conglomerate Qihoo (QIHU -4.6%), and cloud online learning software provider 2U (TWOU -5.6%). The Nasdaq is down 0.2%.
- Daqo is now up 11% since last Friday's mixed Q1 report. Ebix is up 18% since delivering a Q1 beat last Friday. MobileIron's gains come after the company named well-traveled tech vet Simon Biddiscombe its interim CFO. Solar3D is rallying after issuing a PR that sings the praises a of an upbeat Bernstein report on solar cost declines.
- Qihoo and JD are more than reversing the Monday gains seen amid a Chinese Internet stock rally. 2U has now fully given back the gains seen last week following its Q1 beat.
- Previously covered: Rackspace, Everyday Health, magicJack, WidePoint, LivePerson, YY, STMicroelectronics, ChipMOS, iDreamSky, Leidos, Photronics
Tue, May 5, 1:20 AM
- Tae Young Hwang, MagnaChip's (NYSE:MX) president/COO since 2009, has resigned.
- Young-Joon Kim, who has been serving as interim CEO since May 2014, will "assume Mr. Hwang's duties as the Company's principal operating officer." In addition, manufacturing operations SVP Seung-Hoon Lee will now oversee MagnaChip's semiconductor services ops on a day-to-day basis.
- The moves come in a year that has seen MagnaChip's shares crater following the end of its accounting restatement and the posting of its Q1-Q3 2014 results.
Wed, Apr. 15, 2:19 PM
- Chip stocks are turning in a good day as Intel's Q1 report - it featured a revenue miss, in-line EPS, light Q2 guidance, solid margin and server CPU figures, and a capex budget cut - goes over well with a market that had low expectations following a March warning.
- Also: Analog/mixed-signal chipmaker Linear Technology is higher after beating FQ3 estimates, offering slightly soft guidance, and reporting healthy bookings
- After selling off in late March amid concerns about TSMC remarks and forex pressures, the Philadelphia Semi Index (SOXX +1.7%) is again within $4 of a high of $99.57. The Nasdaq is up 0.8%.
- Linear peers Texas Instruments (TXN +3.2%), Analog Devices (ADI +2.3%), Fairchild (FCS +3.4%), MagnaChip (MX +3.9%), Power Integrations (POWI +3.7%), InPhi (IPHI +4.2%), and ON Semi (ONNN +4%) are among today's standouts.
- Other gainers include Cree (CREE +3.9%), Audience (ADNC +8.5%), QuickLogic (QUIK +5.2%), Cavium (CAVM +3.1%), and reported Intel buyout target Altera (ALTR +2.4%). Audience (believed to supply a voice processor for the Galaxy S6) could be getting a lift from Samsung remarks about stronger-than-expected Galaxy S6 sales.
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
Mon, Apr. 6, 5:52 PM
- The NYSE has informed MagnaChip (NYSE:MX) it's not in compliance with the exchange's timely filing requirement, as a result of having failed to file its 2014 10-K.
- MagnaChip, which previously disclosed it was "substantially delayed" in closing its 2014 books due to the time needed to restate past numbers and post its Q1-Q3 2014 results, says it's "currently in the process of completing the preparation of its financial statements for its fiscal year ended December 31, 2014," and expects to file its 2014 10-K in Q2.
- The Korean analog/mixed-signal chipmaker has until Sep. 30 to file its 2014 10-K.
Mon, Mar. 30, 3:13 PM
- Today's notable tech gainers include industrial laser maker IPG Photonics (IPGP +4.3%), cloud classroom software provider 2U (TWOU +5.8%), California solar installer Solar3D (SLTD +10.3%), Korean analog/mixed-signal chipmaker MagnaChip (MX +6.8%), privileged account security software vendor CyberArk (CYBR +5.3%), haptic tech provider Immersion (IMMR +4.6%), and solar power optimizer maker/recent IPO SolarEdge (SEDG +4.8%). The Nasdaq is up 1.1%.
- There are relatively few major decliners. The group includes Chinese online video platform Youku (YOKU -4.5%), Chinese solar cell/module maker Yingli (YGE -5.6%), authentication hardware/software provider Vasco (VDSI -3%), and IP licensing firm Marathon Patent Group (MARA -8.8%).
- Solar3D is now up 97% from a March 18 close of $2.57. SolarEdge is up 23% from last week's $18 IPO price. Immersion might be getting a lift from a Barclays report stating Analog Devices will be supplying converter ICs to help enable haptics support on future iPhones/iPads.
- Youku has fallen to fresh 52-week lows, and is now down 18% since posting Q4 results and disclosing an SEC inquiry on March 19. Marathon is down 11% since reporting last Thursday.
- Previously covered: BlackBerry, Altera, Ambarella, OTI, Angie's List, You On Demand, 500.com, Chinese online real estate
Thu, Mar. 19, 5:37 PM
Wed, Mar. 18, 3:05 PM
- Today's notable tech gainers include data protection software vendor Imperva (IMPV +3.5%), supercomputer maker SGI (SGI +5.3%), analog/mixed-signal chipmaker MagnaChip (MX +6.1%), enterprise cloud healthcare software vendor Castlight (CSLT +7.6%), program guide/content protection IP provider Rovi (ROVI +5.8%), cloud contact center software vendor Zendesk (ZEN +5%), and Web site owner Demand Media (DMD +4.6%). The Nasdaq is up 0.8% following Janet Yellen's market-pleasing remarks.
- Notable decliners include Chinese EV maker Kandi (KNDI -3.4%), RF backhaul hardware maker DragonWave (DRWI -7.6%), NAND flash controller/4G RF transceiver maker Silicon Motion (SIMO -3.2%), and online money transfer provider Xoom (XOOM -4.9%).
- Castlight is now up 13% from Friday's close. Rovi, rumored to be weighing strategic options, is two days removed from naming a new sales chief and announcing a licensing deal with Sharp. Kandi has now given back the big Monday gains it saw after posting Q4 results.
- Xoom's losses are likely tied to Facebook's launch of a money transfer service for Messenger users; Facebook isn't charging any fees for now.
- Previously covered: Adobe, Wix, Microsemi/Vitesse, Pandora, 500.com, chip equipment makers, Qihoo, MicroVision, Solar3D, Immersion, Netlist, Qunar, eBay, Avid
Fri, Mar. 6, 12:45 PM
- With shares having crashed following the release of the company's Q1-Q3 2014, MagnaChip (MX -2.4%) has adopted a shareholder rights plan "designed to reduce the likelihood that any person or group would gain control of the Company through open market accumulation."
- MagnaChip's top institutional holders as of Dec. 31 include several hedge funds that could potentially turn activist. Acadian Asset Management and Steven Cohen's Point72 Asset Management each had 4.2% stakes, and Brigade Capital had a 5.7% stake.
- The Korean analog/mixed-signal chipmaker has made fresh lows on a down day for equities. Shares are down 65% since the Q1-Q3 results came out.
Thu, Feb. 19, 2:58 PM
- Today's notable tech gainers include fiber equipment provider Zhone (ZHNE +10.6%), IP licensing firm VirnetX (VHC +7%), healthcare software provider Allscripts (MDRX +4.8%), app development software provider Pegasystems (PEGA +6%), software outsourcing firm EPAM (EPAM +5.6%), security software/service provider Imperva (IMPV +5.3%), and cloud HR software provider Paylocity (PCTY +4.5%).
- Notable decliners include Chinese search/app store/security app provider Qihoo (QIHU -5.2%), Web hosting/cloud infrastructure provider Rackspace (RAX -3.9%), LED equipment maker Veeco (VECO -4.9%), and analog/mixed-signal chipmaker MagnaChip (MX -5%). The Nasdaq is up 0.4%.
- VirnetX is adding to the Wednesday gains seen after Apple patent review petitions were denied, and Qihoo is adding to the losses seen following a Jefferies downgrade.
- Rackspace and Veeco are reversing the gains they saw yesterday after posting their Q4 reports (I, II), and then some. MagnaChip is now down 58% since posting its Q1-Q3 results a week ago.
- Previously covered: SolarCity, Facebook, Castlight, Applied Materials, DragonWave, Nimble Storage, AVG, Ascent Solar, Netlist
Wed, Feb. 18, 2:59 PM
- Today's notable tech gainers include smart grid hardware/software provider Silver Spring (SSNI +8.9%), SMB Web services provider Web.com (WWWW +4.1%), cybersecurity software firm CyberArk (CYBR +7%), Chinese online retailers JD.com (JD +3.5%) and LightInTheBox (LITB +4.5%), cloud life sciences software firm Veeva (VEEV +4.3%), online money transfer provider Xoom (XOOM +3.7%), and video infrastructure hardware vendor Concurrent (CCUR +3.8%).
- Notable decliners include Russian online payments leader Qiwi (QIWI -6.5%), supercomputer maker SGI (SGI -3.7%), analog/mixed-signal chipmaker MagnaChip (MX -4.6%), and cloud marketing software provider Marketo (MKTO -3.3%). The Nasdaq is close to breakeven.
- JD.com and LightInTheBox are adding to the Tuesday gains they saw following Vipshop's big Q4 beat. MagnaChip is adding to the huge losses seen last Friday after its Q1-Q3 2014 results were finally posted. Marketo is adding to last week's post-earnings losses. CyberArk is now up 74% from its Feb. 9 close, thanks to a big Q4 beat and broader cybersecurity enthusiasm.
- Previously covered: Angie's List, GoPro, Zillow, Garmin, Qihoo, Sonus, VirnetX, Yandex, Bitauto, Cavium
Fri, Feb. 13, 12:45 PM
Fri, Feb. 13, 9:15 AM| 3 Comments
Thu, Feb. 12, 5:57 PM
- "Our results for the first three quarters of 2014 show that we have challenges to overcome," says interim CEO Y.J. Kim in a PR announcing MagnaChip (NYSE:MX) has finished restating its 20111-2013 results and filed 10-Qs for Q1-Q3 of 2014.
- For the nine months ending Sep. 30, 2014, MagnaChip (MX) had revenue of $530.6M (-5% Y/Y) and a GAAP net loss of $1.57/share. The chipmaker ended the period with $125.2M in cash, and $224M in long-term borrowings.
- Shares have plunged to $9.00 AH.
- The 10-Q filings: Q1, Q2, Q3
Thu, Feb. 12, 5:36 PM
Thu, Jan. 29, 3:55 PM
- MagnaChip (NYSE:MX) expects to complete/file its 2013 10-K and Q1-Q3 2014 10-Qs "during the week of February 9, 2015, but no later than February 13, 2015."
- The Korean analog/mixed-signal chipmaker saw its shares tumble ten months ago after announcing an accounting review stemming from "incorrectly recognized revenue on certain transactions." CFO Margaret Sakai resigned soon afterwards.
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