May 24, 2013
New Subscribers, Gains From Mobile Open Pandora’s Box
 An increase in subscribers, as well as substantial gains in mobile made for a big first quarter for the popular internet radio service Pandora (P), setting the company up for what could be a momentous close to the week. During late trading on Thursday, Pandora reported a net loss for the first quarter of $28.5 million, or $0.16 per share on revenue of $128.5 million, compared to the prior year’s Q1 during which the company’s net loss was $20.2 million, or $0.12 per share on revenue of $80.8 million. Including adjustments, Pandora lost $0.10 per share, which was in keeping with expectations, while revenue bested analyst predictions of $124 million. Shares jumped during afterhours trading almost 9 percent to a price of $18.65 after closing the day at $17.16. The results are encouraging for the company, particularly because the market (more)…
Marvell Beats Analysts on Q1 Earnings, Q1 Sales and Q2 Outlook
 Marvell Technology Group (MRVL) reported earnings for the first quarter of fiscal 2014 after Thursday’s closing bell showing the chipmaker’s profits plunged, but not as much as analysts had expected. Total sales for Santa Clara, California-based Marvell during the quarter ended May 4 was $734 million, 8 percent lower than $796 million in the year prior quarter. Net income for the quarter was $53 million, or 11 cents per share, versus $95 million, or 16 cents per share in the first quarter of fiscal 2103. Adjusted profits, which exclude one-time items and share-based compensation, totaled $98 million, or 19 cents per share, compared to $139 million, or 23 cents per share in last year’s quarter. Wall Street was anticipating a greater decline, expecting adjusted EPS of 14 cents per share on revenue of $721.6 million. Earlier this year, Marvell guided (more)…
May 23, 2013
HP Overcomes the Global Abandonment of the PC with Gains in Business Services
 With worldwide sales of personal computers slumping as consumers flock in droves to mobile devices and cloud services, Hewlett-Packard (HPQ), formerly the world’s leading PC-maker, has struggled over the past year along with other hardware and desktop-based tech companies. Ahead of the company’s release of its earnings report late on Tuesday, expectations were low. Unsurprisingly, HP suffered a setback in the form diminishing PC sales, but surprised investors with some promising offsets to those losses. For the second fiscal quarter, HP reported net income of $1.08 billion, or $0.55 per share on revenue of $27.6 billion, down from the prior year period during which the company earned $1.59 billion, or $0.80 per share on revenue of $30.7 billion. On an operating basis, however, HP earned $0.87 per share, comfortably ahead of expectations of $0.81 per share on revenue slightly over (more)…
May 22, 2013
Apple’s Tim Cook Turns the Table on Congress Over Tax Issue
 Apple (AAPL) was in the spotlight on Tuesday with CEO Tim Cook more or less in the hot seat when he appeared before the Senate Subcommittee on Investigations. The Senate hearing, titled “Offshore Profit Shifting and the U.S. Tax Code” was actually the second leg of a previous hearing that took place last September, when the subcommittee sought to examine how and why U.S. multinational corporations stored their profits offshore in countries with more pliable tax codes. It is important to note that the agenda for the first meeting, according to the subcommittee’s website, was looking not only at how corporations park their money abroad, but also how “such activities are affected by the Internal Revenue Code and related regulations”. That hearing focused on two other tech giants, Microsoft (MSFT) and Hewlett-Packard (HPQ), along with representatives from Ernst & Young (more)…
NetApp Delivers a Mixed Bag in Fourth Quarter Report
 In a tale of good news/bad news shares of storage and data management company NetApp Inc. (NTAP) closed Tuesday trading down by 1.5 percent at $36.63, marking their third straight red close, but are making up a bit of lost ground in extended trading after reporting results for its fourth quarter and full year ended April 26. Quarterly earnings nipped past expectations of analysts, but revenue came up short and outlook for the current quarter was also below predictions. The company also said it is also laying-off about 900 employees, but upped its share repurchase program and unveiled a quarterly dividend aimed to improve shareholder returns. For the fourth quarter, Sunnyvale, California-based NetApp said revenue was $1.72 billion, compared to $1.70 billion in last year’s quarter. Net income was $174 million, or 47 cents per share, versus $181 million, or (more)…
May 20, 2013
Sprint Bulks Up on Mobile Advertising with Handmark Acquisition
 In a move that points to how widespread and impacted the competition for mobile advertising dollars has and will continue to become, on Monday the nation’s third largest provider of wireless services Sprint Nextel (S) announced the acquisition of the Kansas City, Missouri-based Handmark, Inc. Handmark’s subsidiary One Louder is a developer of mobile apps, and having done prior work for companies such as Twitter, with TweetCaste, Facebook (FB) with FriendCaster, and CBS sports among others, the company offers Sprint a much-needed foothold in an increasingly device-oriented marketplace. Sprint sees One Louder as being the perfect supplement to its Pinsight Media+ service that provides mobile marketing data and analysis to advertisers. Kansas City is known to have a thriving tech scene, and according to Sprint’s press release on Monday, the company has spent a significant amount of time fostering relationships (more)…
Facebook: A Year in Review
 The first anniversary of Facebook’s (FB) IPO occasioned a number of retrospectives about the social media site that, ostensibly at least, counts some 1/7th of the world’s population among its registered users. In particular, a great deal has been made about the fact that the company’s shares have yet to match their IPO price. As much trouble as the company has had with share price since the partially-botched IPO last year, the bigger story for Facebook is to be found in the great number of tech companies it has acquired since that time, that goes hand in hand with the company’s desire to drastically increase the amount of revenue it gets from mobile advertising. Presumably, if Facebook successfully continues to make significant gains in mobile as it has been doing, the gap between its current share price of $26.25, and (more)…
Yahoo’s Board Approves $1.1 Billion for Tumblr Deal
 The iconic Yahoo! (YHOO) sign went up in 1999 off the north side of highway 101 on the way into San Francisco, and had remained in the exact same spot since those exuberant days of the dot com boom, becoming as much a part of the city’s skyline as the Transamerica building, or even the clouds themselves. The billboard’s disappearance, however, does not seem to be an indication that the company itself plans to go the same way. On Sunday, the board of once dominant internet company Yahoo! Inc. (YHOO) reportedly approved a $1.1 billion deal to acquire social media site Tumblr. The move is seen as one of the company’s most significant as it attempts to regain some of its former prominence under new CEO and former Google (GOOG) executive Marissa Mayer, who recently has drawn more attention for (more)…
May 17, 2013
Stocks Under $10: Advanced Micro Devices Gets Downgraded to Sell
 Advanced Micro Devices (AMD) – was recently been downgraded to a Sell rating according to ValuEngine with fair value at 5.92, which makes the stock 28.0% undervalued. The one-year price target is $3.93. ValuEngine Profile – “Advanced Micro Devices, Inc. is a world-class company with the innovation, execution, and vision to grow our leadership position in the industry. Today’s world-class companies share three essential characteristics. First, they deliver innovative products and technologies that customers want. Second, they have established a proven track record of fast, efficient manufacturing execution. And third, they have a bold vision of where to take their business, and often their industry. Over the course of AMD’s three decades in business, silicon and software have become the steel and plastic of the worldwide digital economy. Technology companies have become global pacesetters, making technical advances at a prodigious (more)…
May 16, 2013
Cisco Systems Leads Tech Higher
 Tech shares rallied on Thursday, led by Cisco Systems’ (CSCO) 13 percent leap to as high as $24.25. The increase dragged other sizeable network and communications stocks along with it, including Juniper Networks (JNPR), up nearly 4 percent, Palo Alto Networks (PANW) up 3.6 percent, Riverbed Technology (RVBD) up 4.4 percent. Cisco reported fiscal third-quarter earnings during late trading on Wednesday that allowed shareholders and investors to breathe a little easier after concerns that the general trend in global tech markets away from hardware and toward software and cloud services was beginning to take its toll on the company. On revenue of $12.2 billion, Cisco earned $2.5 billion or $0.46 per share, against the prior year period during which the company earned $2.2 billion or $0.40 per share on revenue of $11.6 billion. Excluding items, the company earned $0.51 per (more)…
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