Despite terrible earnings, there was not much of an activity AHs after 4:30pm. MMs are playing with the price and are trying to keep it up due to ASB (Accelerated Stock Buyback) Program. This should atleast be trading close to its 52 week low of $31.22. This stock needs analysts downgrades to reflect the correct market price.
Cannacord this morning came up with a comment "But despite shares being down 5.5% this month, there's about to double that decline today. The lower income-core [rent-to-own] customer is not not particularly healthy". There comments can be viewed in Dow John news published at 6:43am.
Sentiment: Strong Sell
I took a short position in SNDK @63.43 yesterday. Second half day volume trend was downwards and day end with two red lines with more than 200k volume each. SNDK surprised the market with exceptional results. Such blown out earnings surprise with beating analysts outlook expectations for the next quarter was not a part of my learning exprerience. BUT I still decided to stick with what I learned and got away without loss @63.30 AH.
Had to sell it on loss @25.69. I will however, use this learning curve for future earnings and for their next morning move. I will start it today with observing and taking position in SNDK before close.
Noticed something since yesterday, pls let me know if it makes sense. I was short on JBHT yesterday, but JBHT recovered and went up soon after the open though has EPS miss of $0.03 cents. Noted that volume line before previous close was green proved next day morning up move.
LLTC missed EPS $0.01 yesterday after close but there last volume line before close was green. This stock is holding up good today despite an EPS miss.
Now CSX beats the earnings, guides up but volume line before yesterday close was red with more than 400K volume. Again looking at up two examples, it drove the stock down in the morning. However, stock is fighting hard based on results. I bought after hours at $26.25 and am since holding. Please let me know, if my observations are making any sense?
To cover his face, Needham has reduced the price target to $20. This should be trading atleast below $15 to make a move forward in case the company does any better.
Needham, another Ron B. Rily who gave recomendations to buy Ruby tuesday on the disaster day when RT went from $7.55 to $6.50 in AH and next mrning to $6.10.
These guys can be sold for one time combo meal.
They halted the market after hours. This morning, Needham came with buy on weakness idea and the then bots are active since then on the upside near the previous close. There financial health is an open book now. I believe that they provided an opportunity to their big sharks to short at the top from here. I think, today close will give us more clues.
You are right. I am selling it now, before I loose all my gains.
For now looks like heading to a pre-market low of $11.52. If it breaks $11.52, I am not going to hold it any longer.
Standard & Poor's Ratings Services placed its 'BBB-' long-term and 'A-3' short-term corporate credit ratings on Telecom Italia SpA (NYSE: TI) and all related issue ratings on CreditWatch with negative implications.
The CreditWatch placement follows the resignation of TI's chairman and CEO, and our perception that the group faces heightened uncertainties regarding its future strategic orientation. Furthermore, we believe TI's operating performance in 2014-2015 could suffer, and we think the company has limited levers available to accelerate debt reduction beyond organic discretionary cash flow generation. We are uncertain what action management could take to further trim debt, and what impact this may have on the group's business and financial risk profiles. We are also unaware of any additional measures management may take to stabilize the company's domestic performance. We believe this may require significant fixed or commercial outlays, and that the benefits could take a long time to materialize.
Given the company's deteriorated operating performance and management and governance uncertainties, we now consider it unlikely that TI will reduce leverage in the near team through a capital contribution, such as equity or subordinated debt with equity characteristics.
Spain-based Telefonica S.A. recently increased its ownership in TI's controlling shareholder Telco, and we understand that it may further increase its stake in the future. Telefonica owns competitors of TI units in Brazil and Argentina. While we understand that Telefonica will not participate in TI's board discussions about Latin America, we believe that its increased ownership creates further risks of a continued lack of strategic direction at TI.
We have revised our management and governance (M&G )score on TI to "fair" from "satisfactory" for the following reasons: First, we think a lack of clarity exists in the company's strategy, including continued uncertainty over a spin-off of the fixed-line
Apple is heading to 700 after today"s record sales numbers with starting upgrades today and so will RFMD to $7.50 --- $10.00 being increased presence as vendor in apple as indicated by cancord today.
RFMD(R) Expands Assembly Capacity to Accommodate Strong Product Demand
2 hours 27 minutes ago - DJNF
RFMD(R) Expands Assembly Capacity to Accommodate Strong Product Demand
Expansion Boosts Internal Assembly, Will Include Advanced Flip Chip Capabilities
GREENSBORO, N.C., Sept. 23, 2013 (GLOBE NEWSWIRE) -- RFMD (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency solutions, today announced it has successfully completed a recently announced expansion of its test, tape and reel, and assembly facility, located in Beijing, China. In addition to newly qualified internal assembly capacity for power amplifiers (PAs), switch-based products, and antenna control solutions, RFMD is also qualifying advanced flip chip capabilities for its 2G, 3G, and 4G LTE and TD-LTE products.
RFMD anticipates the expansion will enable it to quickly accelerate internal assembly to accommodate broad customer demand for its expanding portfolio of RF solutions. The capacity expansion efforts and resulting increase in internal assembly are expected to contribute to RFMD's stated goal of expanding non-GAAP gross margin by 300-400 bps by the March 2014 quarter, as compared to non-GAAP gross margin of 34.4% achieved in the March 2013 quarter. On August 26, 2013, RFMD announced it was on track to achieve another major gross margin expansion initiative -- the ramp of its new low-cost CMOS PA for entry market 2G handsets.
RFMD's high-performance RF solutions are broadly adopted across multiple growth markets and applications, including smartphones, handsets, tablets, notebooks, Wi-Fi, CATV, and hi-rel applications. The increasing use of RF technology is core to the collective value of wireless connections between people, data, processes, and objects, and is central to the popular concept of the Internet of Things. According to Cisco, the Internet of Things is expected to grow at a compound annual growth rate of 25% during 2012 to 2020, reaching approximat