CEO of CLSN sounded real excited, too and it bombed.
Yes, hard to understand, other than a sympathy move with Asia on Turkey raising interest rate sharply.
But "Advantest (ATE) widened its full-year net-loss forecast by 14 times. It now expects a net loss of 35.9 billion yen ($347.19 million), compared with a previous forecast for a loss of 2.5 billion yen."
Should be setting new lows, imo..
Asian Shares Rise After Turkey Rate Hike
BY Midnight Trader — 12:19 PM ET 01/29/2014
(CAPS BY ME, MG)
-- Asian stocks gained after Turkey's central bank more than doubled interest rates to stop a currency slide that roiled global markets.
The central bank raised its repurchase rate to 10% from 4.5% and boosted other key borrowing costs at a late-night emergency meeting. The overnight lending rate was raised to 12% from 7.75%.
Emerging markets have been roiled since the Federal Reserve started to taper its bond-buying program and China last week reported weak manufacturing data.
Argentina recently devalued its currency, and the Reserve Bank of India and Brazil unexpectedly raised rates.
The Federal Reserve is due out with a policy decision on Wednesday. Most economists expect a further tapering of the Fed's bond-buying program.
Around the region, South Korea's industrial output increased 3.4% in December from November, the biggest gain since June 2009.
Philippine Q3 on-year economic growth has been revised down to 6.9% from 7.0%.
Trading in China and Hong Kong is lightening ahead of the Lunar New Year. Shanghai and Hong Kong markets will be shut from January 30 and will resume trade on February 5.
In ADR news, ADVANTEST (ATE) WIDENED ITS FULL YEAR NET-LOSS FORCAST BY 14 TIMES. It now expects a net loss of 35.9 billion yen ($347.19 million), compared with a previous forecast for a loss of 2.5 billion yen.
Posco (PKX) reported a 60% annual drop in Q4 net profit.
The Nikkei ended up 2.7% at 15,383.91, the Hang Seng up 0.82% at 22,141.61 and Shanghai up 0.56% at 2,049.91.
LUNA Got down to 1.43 Monday and 1.46 yesterday. I chose to cover my 1.75 short from Thursday as fundamental market weakness was absent.
1.35 continues as first support.
Sec 4 filing shows the departing founder sold a portion during the news rise, as poster tradesrbn alerted.
Chart & Fundamentals:
ADVANTEST CORPORATION produces semiconductor testing devices headquartered in Tokyo, Japan
Closed down today 10.27% on 4.7 x's 90 DAV
No specific news or event but likely related to value of Yen- in part.
Trend Line is clearly down
Broken through the 50, 200 and 20 MA- no support in sight.
Very Bearish rating
No Institutional support to speak of- unusual for a company its size
Quarterly Earnings negative and trending worse
Key Statistics (Latest 4 Quarters)
EPS Growth -396.7%
EPS Growth 3 Year, annualized -30.7%
EPS Growth 5 Year, annualized -24.0%
Sales Growth -40.9%
Short term Continuation Play
Thursday and Friday were very weak overall mkt days
That's when ballooning stocks tend to begin returning to earth
As of 12/31/12 FEYE itself had no tangible book value
I understand the synergies of the combined companies brings about something of a new paradigm and that there has been a lot of resulting momentum. But presently the metrics do not support the PPS.
Up 5.73% on my short in one day. Intend to add if there is any half decent pop.
Will keep an eagle eye on this one as I only know too well that's it metrics be damned if the crowd is behind the story a la CRM, TSLA, etc
Biggest issue now is the overall mkt, imo. Were Thurs & Fri the start of a correction?
Listen to the CC
Stated by company that Founder just left to devote energy to his new business, that he needs funds to do that and his money is tied up in LUNA stock.
The clear inference is he'll be selling his Luna stock.
I would imagine he would be taking advantage of this news pop to commence selling (he's has a lot to sell).
Given the low OS, I expect to see continued weakness in the PPS due to this likely selling.
I will hold my short position
LOL, very funny and great trade!
I decided not to cover yet only bc the whole mkt looks suspect for further down
Rev's down sequentially
Gaap income definitely improved but still a loss (-.10 SH)
Since Nov, 3 of 4 insiders sold- Paramesh twice
Balance Sheet weak
Cash is declining
Low bearish rating
Chart bearish for momentum, MACD & crossing 200 MA
9% short interest
Down 25 pts AH
I think it'll be down tomorrow..
McLean Capital Management downgrades SONIC CORP from NEUTRAL to SELL.
Investars Analyst Actions - public – 12:07 PM ET 01/10/2014
On January 10, 2014 McLean Capital Management downgraded SONIC CORP (SONC) from NEUTRAL to SELL.
Jefferson Research downgrades SONIC CORP from BUY to HOLD.
Investars Analyst Actions - public – 7:07 AM ET 01/10/2014
On January 10, 2014 Jefferson Research downgraded SONIC CORP (SONC) from BUY to HOLD.
Trading Central drops coverage for SONIC CORP.
Investars Analyst Actions - public – 7:09 PM ET 01/08/2014
On January 8, 2014 Trading Central dropped coverage for SONIC CORP.
COVERAGE INITIATED: Sonic (SONC) initiated by UBS. Initial rating Sell.
Briefing – 11:19 AM ET 01/08/2014
EVA Dimensions, LLC downgrades SONIC CORP from OVERWEIGHT to HOLD.
Investars Analyst Actions - public – 8:07 AM ET 01/08/2014
On January 8, 2014 EVA Dimensions, LLC downgraded SONIC CORP (SONC) from OVERWEIGHT to HOLD.
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BY Market Wire — 7:30 AM ET 01/08/2014
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