SAN FRANCISCO - June 25, 2014 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it has initiated equity research coverage of UTStarcom Holdings Corp. (UTSI) with a Buy rating and a $5.00 price target. The research is provided by Tony Tian, CFA, of New Oriental Capital a Merriman Financial Entrepreneur Platform participant.
Initially founded in 1991, UTStarcom Holdings Corp. is a niche telecommunications infrastructure vendor which offers carrier-class broadband transport and access products and solutions optimized for mobile backhaul, metro aggregation, broadband access, and Wi-Fi data offloading. With total headcount of 607 as of the end of 2013, the Company has operating entities in Tokyo, Japan; San Jose, USA; Hangzhou, China; and Delhi and Bangalore, India and has been NASDAQ listed under ticker "UTSI" since 2000.
About Merriman Capital, Inc.
Merriman Capital, Inc. is a full service investment bank and Broker-Dealer that facilitates efficient capital formation through a proprietary digital network, and offers Capital Markets Advisory and comprehensive Corporate Brokerage services for public and private companies. The firm also provides equity and options execution services for sophisticated investors and differentiated research for high growth companies. Merriman Capital, Inc. is a wholly owned brokerage subsidiary of Merriman Holdings, Inc. (MERR) and is a leading advisory firm for publicly traded, high-growth companies.
Digital Capital Network, powered by Merriman Capital, is a capital marketplace that enables highly targeted and more efficient execution of transactions. Please visit our website for more information on how you can be a part of our Digital Capital Network: http://www.digitalcapitalnetwork.com.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on March 31, 2014. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K filed on March 31, 2014, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
# # #
New Oriental Disclosures:
INVESTMENT RECOMMENDATION RELATED RISK FACTORS
Investment risks associated with the recommendations and views herein include, but are not limited to, a company`s failure to achieve New Oriental Capital`s earnings and revenue estimates; unforeseen global and domestic macroeconomic and/or industry events that affect demand for a company`s products or services; changes in investor sentiment regarding the specific company or industry; intense and rapidly changing competitive pressures; the continuing development of industry standards; the company`s ability to recruit and retain competent personnel; and adverse market conditions.
This report reflects the results of our research as of the date of this report. Our research results are subject to change at any time as new or additional data and information is received and analyzed. New Oriental Capital undertakes no duty to update this report, or to provide supplemental information to any client receiving this report, absent a specific arrangement to the contrary between New Oriental Capital and individual clients, which arrangement may specify different frequency and depth of analysis and update commitments based on levels of service and fees selected by clients. Any opinions, forecasts or estimates in this report may present a possible outcome on the basis of assumptions set out herein and represent only one possible outcome and are the independent view of the author(s) of this report only. These opinions, forecasts or estimates are subject to risks, uncertainties and assumptions and there can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates.
This report is for the institutional clients and prospective clients of New Oriental Capital, LLC, each of whom assume all risk and liability with regard to any use or application of the data included herein. Other than disclosures relating to New Oriental Capital, this research report is based on current information that New Oriental Capital considers reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. New Oriental Capital seeks to update our research reports as appropriate, but various regulations may prevent us from doing so. Other than certain industry reports published on a periodic basis, the large majority of reports are published at irregular intervals as appropriate in the analyst`s judgment. Reproduction or editing by any means, in whole or in part, or any unauthorized use, disclosure or redistribution of the contents without the express written permission of New Oriental, LLC is strictly prohibited.
This research report is intended for informational purposes only. Under no circumstances is this report to be considered as an offer to sell or solicitation of an offer to buy any securities of any company. Users assume the entire cost and risk of any investment decision they choose to make, New Oriental Capital, LLC shall not be liable for any loss or damages resulting from the use of the information contained in the report, or for error of transmission of information, or for any third party claims of any nature.
New Oriental Capital provides the information and data contained herein on an "as is", "as available" basis, without representations or warranties of any kind whatsoever, expressed or implied. The information in this report may be incomplete and may not contain material information relating to the subject matter of the report. New Oriental Capital has no authority whatsoever to give any information or make any representation or warranty on behalf of the company or companies that are the subject of this report, any of its shareholders or any other person in connection therewith and this report has not been authorized or approved by said company or companies. Nothing herein shall constitute a waiver or limitation of any person`s rights under relevant federal or state securities laws.
It should be noted that all proprietary analyses provided by New Oriental Capital in this report are derived from New Oriental Capital`s analytic expertise, market knowledge, and use of the data it collects. Some of the information in this report may have been obtained from confidential and proprietary sources.
This research report is not an offer to sell, or the solicitation to buy, any security in any jurisdiction where such an offer or solicitation would be illegal or unlawful. It does not constitute a personal recommendation, nor does it take into account the particular investment objectives, financial situations, or needs of individual clients. Clients should consider whether any advice or recommendation in this research is suitable for their particular circumstances and, if appropriate, seek professional advice, including tax advice. The price and value of investments referred to in this research and the income from them may fluctuate. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments.
All material contained in this report is the property of New Oriental Capital unless otherwise indicated. All trademarks, service marks, logos and trade names used in this report are proprietary to New Oriental Capital or other respective owners. This report is proprietary, confidential and provided for the exclusive use of the recipient. Any unauthorized use of the content of this report, including disclosure of confidential information contained within, is strictly prohibited.
In no event shall New Oriental Capital or its officers, directors, affiliates, shareholders or employees be liable for any damages including special, incidental, or consequential damages that are directly or indirectly related to this report, including, without limitation, lost revenue or anticipated profits or lost business, and in no event shall the total liability of New Oriental Capital for any and all losses and causes of action [whether in contract or in tort, including negligence or otherwise] arising from this report exceed in the aggregate the subscription fees paid to New Oriental Capital by the applicable client for this report.
New Oriental Capital
Director of Research
Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Merriman Holdings Inc. via GlobeNewswire
- Investment & Company Information