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NUAN

Nuance Communications, Inc.

5/23/2013, 11:06 AM ET

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Thursday, May 16, 5:00 AM Based on his latest 13F filing with the SEC, Carl Icahn put in a solid Q1 as the value of his holdings rises from $12.9B at the end of Q4 to $16.9B as of March. New additions include loudly trumpeted stakes in Herbalife (HLF) and Dell (DELL) as well as a 3.7M share stake in Nuance Communications (NUAN). Icahn's Netflix (NFLX) stake remains on the books and is now worth more than $1B. Comment!
Friday, May 10, 9:01 AM Despite its recent issues, Wedbush is bullish on Nuance (NUAN), initiating shares at Outperform. "The negative factors already appear to be reflected in estimates and valuation and we believe they are manageable for the company, therefore, we believe there is limited downside at current levels... Recent and pending sales/management changes, potential shareholder activism, $500M share buyback, and current valuation of 14x 2013 and 12x 2014 EPS are likely to provide downside support." Since the April 30 miss, shares are -17.1%. 1 Comment [Quick Ideas, Tech]
Tuesday, April 30, 4:58 PM Nuance (NUAN -18.3%) +1.5% AH, recouping a small portion of today's huge post-earnings decline, after Carl Icahn discloses he has raised his stake in the company to 10.7% from a prior 9.3%. (13G) (Nuance FQ2: I, II) Comment! [Tech, On the Move]
Tuesday, April 30, 12:46 PM Midday top 10 gainers: TTHI +45%. PTIE +26%. DRRX +26%. MTOR +23%. MGAM +20%. OIS +16%. GIB +14%. HGSH +15%. ARWR +13%. TXRH +13%.
Midday top 10 losers: DCTH -44%. AVEO -26%. NUAN -18%. AOSL -18%. PBI -16%. AEIS -13%. MSTR -10%. ANV -10%. ELTK -10%. SYN -10%. Comment! [On the Move]
Tuesday, April 30, 9:16 AM Nuance (NUAN) -13.7% following its FQ2 miss. In prepared remarks, the company guides for FQ3 revenue of $480M-$495M and EPS of $0.30-$0.34, below a consensus of $554.1M and $0.49. FY13 guidance is for revenue of $1.96B-$2B and EPS of $1.33-$1.45, below a consensus of $2.16B and $1.80. Preliminary FY14 guidance is for organic growth in the "mid- to upper-single digit range;" consensus is for revenue of $2.44B. Mobile & Consumer sales -4% Y/Y in FQ2 after rising 17% in FQ1, and Enterprise -20% vs. +10% in FQ1. Healthcare (over half of profits) +2% (+3% prior); Imaging -10% (+6% prior). Buyback currently good for repurchasing 7.8% of shares. 1 Comment [Tech, Earnings, On the Move]
Tuesday, April 30, 9:10 AM Premarket gainers: HPY +10%. HTWR +9%. ANAD +9%. AVP +8%. UBS +7%. BBY +6%.
Losers: DCTH -20%. AVEO -16%. NUAN -15%. PBI -10%. MTG -8%. CNH -6%. RVBD -6%. QGEN -5%. Comment! [On the Move]
Tuesday, April 30, 6:53 AM Nuance (NUAN) announces a $500M stock buyback plan, which may temper the angst around its FQ2 miss. NUAN says results were impacted by "execution issues and external factors. We have taken immediate corrective actions to improve the performance of our business and revised our operating plan accordingly." The buyback may also be aimed at activist Carl Icahn's recent stake. (PR) Comment! [Tech, Breaking News]
Tuesday, April 30, 6:43 AM Nuance (NUAN): FQ2 EPS of $0.34 misses by $0.06. Non-GAAP Revenue of $484M misses by $32.5M. (PR) Comment! [Earnings, Breaking News, Tech]
Wednesday, April 24, 11:47 AM Nuance (NUAN +4.6%) spikes as Dow Jones reports the company has hired Goldman to help find a buyer - there was a rumor along these lines two weeks ago. If true, look for Carl Icahn to take an active interest in the proceedings. 11.8% of Nuance's float was shorted as of March 28, but that was before Icahn disclosed his 9.3% stake. 1 Comment [Tech, On the Move, M&A]
Monday, April 22, 10:35 AM Nuance (NUAN +2.9%) breaks $21 after announcing HTC Car, a navigation/infotainment/hands-free control app provided with HTC's flagship One smartphone, is powered by Nuance's voice recognition tech. The One has generally received glowing reviews. (PR) (AutoNavi deal) Comment! [Tech, On the Move]
Wednesday, April 17, 2:06 PM Nuance (NUAN) partners with Chinese online/mobile mapping and navigation software leader AutoNavi (AMAP -2%) to develop a Chinese-language "voice-enabled navigation product" called AutoNavi Map, which will launch in Q2. Nuance notes AutoNavi's navigation data products/services have been built into 100+ cars, and that its Amap mobile mapping app has 100M+ users. (PR) Comment! [Tech]
Wednesday, April 17, 1:20 PM Amazon (AMZN -2.3%) roundup: 1) Amazon has reportedly paid $26M to buy Evi, a British developer of a Siri alternative that users a proprietary natural language search engine and voice recognition tech licensed from Nuance (NUAN). If true, look for Evi's software to soon be bundled with Kindle hardware. 2) Amazon's Appstore for Android is now available in nearly 200 countries, including major emerging markets (the source of much of Android's growth) such as India, Brazil, and Mexico. 3) Amazon has filed a patent application for an anonymous mobile payments system; expect PayPal (EBAY) to take a close look. 1 Comment [Tech, M&A, Consumer]
Tuesday, April 9, 11:10 AM A rumor Nuance (NUAN +3.3%) has hired Goldman to explore strategic alternatives is fueling a rally in shares of the voice recognition giant. Needless to say, Carl Icahn's newfound interest in the company have much to do with investor hopes for a major payoff. 11% of the float was shorted as of March 15. Comment! [Tech, On the Move]
Monday, April 8, 2:45 PM Speculation abounds regarding how Carl Icahn plans to leverage his new 9.3% stake in Nuance (NUAN -1.3%). Many think Icahn could push Nuance to sell its slow-growing document imaging ops to lower its $2.3B debt load; Deutsche believes the unit could fetch ~$400M. Some even see a full-blown sale of the company to Microsoft or IBM as a possibility. Regardless, many Nuance investors are likely to back Icahn should he make an activist push. "There’s been a lot of frustration over the balance sheet and performance," observes Mizuho's Joanna Makris. Comment! [Tech, M&A]
Tuesday, April 2, 9:10 AM Premarket gainers: BGCP +47%. OMPI +14%. HUM +10%. NUAN +9%. URBN +6%.
Losers: NAT -12%. AFFY -7%. Comment! [On the Move]
Monday, April 1, 5:37 PM After-hours top gainers, as of 5:15 p.m.: BGCP +43%. HUM +9%. NUAN +6%. AMSC +6%. UNH +4%.
After-hours top losers: NAT -6%. ATLS -3%. CECO -3%. SCVL -3%. IMN -2%. 1 Comment [On the Move]