"SAN JOSE, Calif., Aug. 31, 2015 /PRNewswire/ -- Extreme Networks, Inc. (EXTR) today announced the appointment of John Kispert, a highly successful technology executive and proven leader in Silicon Valley, to chairman of the board of directors, effective Aug. 25, 2015. Kispert has served as a member of the board for the previous six years, and with a unanimous decision, will now assume the role of lead independent director."
Since Kispert had sereved 6 years on the BOD, he bears some of the blame for what happened to Extreme in that period.
Iron ore is holding above $50. Just don’t bet on it lasting.
Ever-expanding supplies from the world’s largest producers mean prices will fall through the end of the year, according to Capital Economics Ltd. The London-based research firm joins banks including Goldman Sachs Group Inc. and UBS Group AG in predicting lower prices.
The steel-making ingredient will drop to $50 a metric ton at the end of September and $45 by the end of the year, said Caroline Bain, a senior commodities economist at Capital Economics. Ore with 62 percent content advanced 3.9 percent to $56.04 a ton on Friday, according to Metal Bulletin Ltd. It’s 4.9 percent higher this month, having bottomed at $44.59 a ton on July 8.
“The catalyst for the renewed decline will mainly be on the supply side as the Australian producers continue to ramp-up output,” she said by e-mail. Mining giants Rio Tinto Group and BHP Billiton Ltd. are increasing production to boost sales volumes and cut costs, expanding a glut even as China, the biggest buyer, slows.
Then there’s new supply due to appear on the market, in the form of ore from Australian billionaire Gina Rinehart’s A$10 billion ($7.1 billion) Roy Hill mine that will come on line later this year, Bain said. Rio Tinto is forecasting new supply will total 110 million tons this year.
Iron ore has got a fillip in recent weeks as steelmakers in China increased output ahead of government-mandated production cuts at some mills to ensure clean air in Beijing for its Sept. 3 World War II victory parade, according to Wu Zhili, an analyst at Shenhua Futures Co. in Shenzhen.
Looming steel production cuts of as much as 2.5 million tons will weaken demand for the raw material, Barclays Plc said in a note received Monday.
Goldman forecast iron ore averaging $48 a ton in the final three months of 2015, according to a report dated Aug. 14. Jeremy Sussman, an analyst at Clarksons Platou Securities Ltd., is more bearish, estimating an average of $40.
Every few years there is a spike in the share price to $20+, followed by 60-80% decline. This is a pattern of promises unfulfilled, dreams broken. If history repeats, the stock might drop below $10 unless there is a timely approval of the Troponin test by the FDA.
The BOD of HLIT is not an independent one. It was hand-picked by the management. The only solution is for an activist to raid the company or a hostile takeover. However, is Harmonic really an attractive takeover target? A decade ago, HLIT was mentioned occasionally to be a takeover target; in recent years, not.
Carl Icahn is a sophisticated investor. He probably hedged his long RIG position by trading options and perhaps even plain shorting the stock in separate accounts.
1. Low trading volume.
2. The stock is weak when the general market is strong.
3. The PR was not about an actual sale.
3. The German partner of Harmonic refers to it as "one of the industry's leading providers of video compression solutions", So Harmonic is merely a "leading" provider. However, Harmonic refers to itself bombastically as "the worldwide leader in video delivery infrastructure for emerging television and video services". Pay attention to the qualifier "emerging". Will Harmonic have emerging growth and profits?
Why was VPG spun off? To give the Zandman family extra income as directors? There are incestuous relations between VSH and VPG, and VPG has performed worse than it did when it was under VSH. VSH can acquire VPG now for less than its stated book value and make it more profitable by saving on G&A.
The price of iron ore was trading sideways on Wednesday with the market for the steelmaking raw material appearing to be relatively insulated from the rout in metals.
The benchmark 62% Fe import price including freight and insurance at the Chinese port of Tianjin lost $0.20 or 0.4% at $53.10 a tonne, according to data provided by The SteelIndex.
That's up 20.4% from record lows hit July 8 and therefore technically still a bull market defined as a one-fifth rise from a low.
The iron ore price has held above the psychologically important $50-level for six weeks while over that same period most base metals have endured double digit declines (copper fell to a fresh 6-year low on Wednesday while the decline in nickel year to date is now 30%).
Marc Zandman, the son of the late founder of Vishay (Felix Zandman), is Exec. Chairman, Chief Bus. Devel. Officer, Chairman of Exec. Committee and Pres of Vishay Israel Ltd. He is essentially responsible for Vishay's acquisition plans.
Capella, an optical sensor design house, was on the decline when it was bought last year for over 3 times its revenues. It has contributed little to Vishay's revenues although it has had some design wins for industrial applications. The $150M spent on Capella could have been used to repurchase about 10% of VSH shares.
Since the passing of Felix, the $0 share options for management and BOD have become numerous. This in addition to the rather lavish salaries. Yet, the performance of the company and its stock has been poor in this cycle compared to previous cycles. Long-term shareholders have seen little value creation for many years.
Do you mean that it might be a great chance to buy at $10's and $9's because the $11's & 12's won't last? Be careful with your wish.
On the other hand, the saving for Rig from eliminating that $0.15 "small dividend" is only about $50M per quarter, so the elimination indicates some despair on the part of Rig. This is why the stock will be pummeled tomorrow.
My due diligence is telling me that you copied a paragraph from a recent article on SeekingAlpha that was trying to persuade us why Atmel was a "screaming buy" when it traded at $8+. Forget about $15/ sh. $11 will be generous.
If there is a buyout, it will be at about 30% premium to the average share price for the month prior to the buyout. Thus the buyout price will be $10 to $10.5. Also, the reality is that Atmel's sales and earnings have stagnated . ATML will not command price/ sales ratio greater than 3.
I believe that iron will be solidly above $50 by late 2016. I assume that by then high-cost producers will exit the market and demand for steel will increase from developing countries other than China. If not, the large producers will curtail their production to keep iron above $50. (The large producers will have to satisfy their investors.) Vale will be able to deliver iron ore to Asia at a total cost of less than $40/ton. That should be case once the S11D project is completed in 2017. Vale will be making then a profit of over $10/ton on annual production of close to 400M tons. Assuming that Vale's nickel and fertilizer operations are profitable, by 2017 Vale will be making over $1/sh profit for the year. I do not think that Vale will dilute its ahare count for raising cash and therefore it is highly reasonable that the stock will be solidly in the teens by 2017.
"SAN JOSE, Calif., Aug. 24, 2015 /PRNewswire/ -- Atmel® Corporation (ATML), a global leader in microcontroller and touch solutions, today announced that Steven Laub, the Company's Chief Executive Officer, agreed to a Board of Directors' request to extend his retirement date to facilitate the completion of an ongoing strategic evaluation process. The Company does not intend to make further public announcements regarding the status of the evaluation process until it is completed, and there can be no assurance as to its outcome or timing."
Maybe an outright sale of the company, maybe a sale of part of the company. The best outcome for the investors is a complete buyout so that ATML is no more. The announcement should help the stock.
Iron ore's period of relative price stability has come to an abrupt end as China fears rattle commodity markets.
The price of iron ore at the Port of Qingdao slumped 5 per cent to $US53.28 per cent on Monday as a savage sell-off gripped Asian markets.
Why are you listening to Cramer who already erred badly with VALE?
Cramer, Dec 2014:
Vale SA: "Vale and Ensco are two of the worst picks I've ever made. I will just have to own the fact that we did it ... we were wrong, made a mistake. Not yet taken the loss, let's put it that way."
DEFINITION of 'Recapitalization'
Restructuring a company's debt and equity mixture, most often with the aim of making a company's capital structure more stable. Essentially, the process involves the exchange of one form of financing for another, such as removing preferred shares from the company's capital structure and replacing them with bonds.
INVESTOPEDIA EXPLAINS 'Recapitalization'
Recapitalization can be undertaken for a number of reasons, such as defending against a hostile takeover, minimizing taxes or to implement an exit strategy for venture capitalists. Companies often want to diversify their debt-to-equity ratio to improve liquidity. A good example is when a company issues stock in order to buy back debt securities, thus increasing its proportion of equity capital as compared to its debt capital.
Generally speaking, when a company's debt decreases in proportion to its equity, it has lower leverage and thus, ceteris paribus, its earnings per share should decrease following the change, however its shares would be incrementally less risky, since the company's shareholders have fewer debt obligations which must be paid by the company before shareholders can see profits.
"Pull back in iron production in China" is beneficial for Vale; pull back in steel production is not. In reality, both have been occurring.
Australian iron ore from RIO and BHP is not junk. The iron from Fortescue and the junior companies is of lower quality.
So far, despite prior predictions, the iron price has been holding stubbornly well above $50. This is despite GS and other large banks shorting the ore and releasing weekly predictions that iron is doomed to drop to the $40 level. Perhaps this is a good indication for the future. If iron stays in 2016 above $50, VALE will be double-digit in 2016.
Congratulations you big time investor and much thanks for informing us about your investment in support of our beloved stock!