XRTX: Xyratex Ltd. Instablogs

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Tuesday, April 23, 10:20 AM Storage/hard drive stocks are outperforming, possibly aided by Veeco's Q1 bookings numbers: the company reported hard drive equipment bookings totaled $27M, down 7% Y/Y but up 60% Q/Q in spite of slumping PC demand. Veeco added on its CC (transcript) hard drive customers are "starting to make selective technology buy decisions" once more. STX +2.6%. WDC +2.6%. EMC +1.8%. NTAP +2.7%. XRTX +1.6%. QTM +5.1%. EMC reports tomorrow morning. Also, LED/solar equipment makers Aixtron (AIXG +9%) and GT Advanced (GTAT +2.7%) are getting a lift from Veeco's numbers and bullish Q2 commentary. 2 Comments [Tech, On the Move]
Thursday, April 4, 7:53 PM More on Xyratex (XRTX) FQ1 beats on all counts, despite a 34% drop in total sales Y/Y. Net earnings swung to a loss as the company posted a 35% sales decline in its data-storage segment and a 19% slump its smaller hard-disk- drive business. Gross margin rose however, to 18.9% from 17.9% amid changes in its range of products and customers. For the current quarter, the company forecast a per-share loss of between $0.09 - $0.15 on revenue of $190M to $220M. Analysts are projecting a per-share loss of $0.13 on revenue of $203M. Shares +0.8% AH. Comment! [Tech, Earnings]
Thursday, April 4, 4:06 PM Xyratex (XRTX): FQ1 EPS of -$0.13 beats by $0.08. Revenue of $195.6M beats by $18.29M. Shares +3.4% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Thursday, April 4, 12:10 AM Notable earnings after Thursday’s close: XRTX Comment! [Earnings]
Wednesday, April 3, 5:35 PM Notable earnings after Thursday’s close: XRTX Comment! [Earnings]
Tuesday, April 2, 6:30 PM More on Xyratex: The company has reached a deal with activist investor/22.9% owner Baker Street Capital. Two Baker Street-supported directors will join the board - one of them is Vadim Perelman, the firm's managing member - and Baker Street has agreed to back all proposals "recommended for shareholder approval by the Board at Xyratex's 2013 annual general meeting." XRTX -2.3% AH. Comment! [Tech]
Tuesday, April 2, 5:58 PM Xyratex (XRTX) CEO Steve Barber has resigned from his position, as well as from Xyratex's board. Director/tech industry vet Ernie Sampias has been named interim CEO, and a search has begun for a full-time successor. "We have mutually agreed that this is the right time for a leadership transition," says Xyratex chairman Jonathan Brooks. The maker of hard drive manufacturing equipment and storage subsystems has had a rough time lately. Activist firm Baker Street Capital has been pushing for a shakeup. Comment! [Tech]
Monday, January 14, 12:32 PM Xyratex (XRTX +10%) rallies after activist firm Baker Street Capital discloses its stake is now at 23%, and issues an open letter in which it: 1) Nominates 3 board members. 2) Calls on Xyratex to halt its big investments in HPC and cloud hardware solutions, as well as curtail SG&A spending. 3) Estimates the company is trading at only 2.2x the EBITDA produced by its core storage system and hard drive equipment ops (exc. cash). Xyratex rose on Friday in spite of providing disappointing guidance to go with its FQ4 beat. 3 Comments [Tech, On the Move, M&A]
Thursday, January 10, 5:35 PM After-hours top gainers, as of 5:15 p.m.: RPTP +6%. BGCP +4%. VECO +4%. EXEL +4%. MNST +3%.
After-hours top losers: KBR -8%. XRTX -5%. ABFS -5%. URBN -4%. QLTY -4%. Comment! [On the Move]
Thursday, January 10, 4:19 PM Xyratex (XRTX): Q4 EPS of -$0.24 beats by $0.08. Revenue of $265.4M (-31.5% Y/Y) beats by $10M. Shares -5.4% AH. (PR) Comment! [Earnings, Tech, On the Move]
Thursday, January 3, 4:51 PM Mellanox's warning fueled a gradual selloff in enterprise tech stocks. Some storage-centric names were among the hardest-hit: FIO -6.2%. BRCD -4.7%. ELX -3.9%. XRTX -4.7%. Other notable decliners: FFIV -3.8%. CTXS -3.4%. VMW -3.2%. TIBX -3%. QLIK -8.4%. (security hardware stocks) 4 Comments [Tech, On the Move]
Monday, December 24, 2012, 11:15 AM Midday top 10 gainers: ATV +34%. CT +18%. ALIM +12%. CLSN +12%. EJ +11%. EDAP +11%. GSS +11%. RGLS +10%. AVEO +10%. EGLE +10%.
Top 10 Losers: MHH -30%. TLAB -27%. ALXA -14%. XRTX -12%. AMPL -11%. CIG -10%. SVA -9%. ISS -9%. MITL -8%. RPTP -8%. 1 Comment [On the Move]
Friday, October 26, 2012, 4:42 PM In a sign the Street is on edge over enterprise storage demand, Quantum (QTM -9%) and Fusion-io (FIO -4.5%) sold off again today following disappointing earnings reports (I, II). In Quantum's case, the company's decision to issue $60M in convertible notes (they sport a 4.5% yield and $1.65/share conversion price) also isn't going over well. Many peers posted modest declines, though depressed QLogic and Emulex bounced following their earnings reports. (EMC guidance) Comment! [Tech, On the Move]
Monday, October 22, 2012, 4:49 PM More on Veeco's Q3: Bookings fell another 18% Q/Q to $84M, with major drops in orders for both LED/solar and (especially) hard drive manufacturing gear. Book-to-bill was a mere 0.66. Veeco expects Q4 revenue of $100M-$115M and EPS of $0.04-$0.16, well below a consensus of $132.3M and $0.34. VECO -7.3% AH. Rival AIXG -0.9%. GTAT, IVAC, and XRTX also bear watching. CC at 5PM ET (webcast). (PR) Comment! [Tech, Earnings, On the Move]
Wednesday, October 3, 2012, 12:45 PM Midday top 10 gainers: SRPT +162%. BIOL +38%. VRNG +25%. OCN +16%. KFS +16%. ASPS +14%. SNFCA +12%. TRU +10%. HOV +10%. ICAD +10%.
Top 10 Losers: GST -21%. LEAP -16%. XRTX -15%. THTI -13%. PBM -12%. SSY -10%. HOLL -10%. KRA -10%. ATRS -9%. KIOR -9%. 2 Comments [On the Move]
Wednesday, October 3, 2012, 11:29 AM NetApp (NTAP -2.3%) slides in response to OEM partner Xyratex's (XRTX -15.7%) poor results and guidance. Xyratex's earnings call remarks about its Enterprise Data Storage unit seeing "a material decrease" in demand also aren't helping. But BMO and Cantor are defending NetApp: BMO claims NetApp is seeing a mix shift towards low-end solutions that aren't supported by Xyratex, while Cantor argues channel checks and contract manufacturer Jabil's guidance bode well for NetApp. Comment! [Tech, On the Move, Quick Ideas]

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Xyratex Ltd.