Posts for Ticker ‘CNXT’

Top Analyst Upgrades (COF, CMCSA, CMA, CNXT, CVG, DEPO, DTSI, QSFT, SY, WFC, WEN)

There were many more upgrades than downgrades seen early this Monday morning.  These are top upgrades and positive research calls from Wall Street analysts we have seen so far:

Capital One Financial (NYSE: COF) Raised to Conviction Buy List at Goldman Sachs.
Comcast (NASDAQ: CMCSA) Raised to Outperform at Wells Fargo.
Comerica (NYSE: CMA) Raised to Neutral from Sell at Goldman Sachs.
Conexant Systems (NASDAQ: CNXT) Started as Outperform at Oppenheimer.
Convergsys (NYSE: CVG) Raised to Buy at Citigroup.
Depomed (NASDAQ: DEPO) Started as Buy at Merriman Curhan Ford.
Digital Theater Systems (NASDAQ: DTSI) Raised to Buy at Deutsche Bank.
Quest Software (NASDAQ: QSFT) Raised to Buy at Auriga.
Sybase (NYSE: SY) Started as Buy at BofA/Merrill Lynch.
Wells Fargo & Co. (NYSE: WFC) Raised to Buy at Goldman Sachs.
Wendy’s/Arby’s (NYSE: WEN) Started as Buy at SunTrust Robinson Humphrey.

You can join our open email distribution list which goes out several times per week for reminders of the analyst upgrades and downgrades, top day trader alerts, IPO’s, key secondary offerings, guru investor data on Buffett and others, mergers, and more.

JON C. OGG

Posted on: October 5, 2009 – 7:23 am in Analyst Calls, Banking, Technology Companies, , , , , , , , , , ,

Big Price Movers For The Day (CNXT)(HERO)(HLCS)(VICL)(AAPL)

For news and details on stocks that will be trading significantly up or down on volume, visit Volume Spike Investor.

Today’s coverage includes Hercules OffShore (HERO), Conexant (CNXT), Vical (VICL), and Helicos BioSciences (HLCS).

Apple (AAPL) is also moving on an accounting change that could help its earnings.

Douglas A. McIntyre

Posted on: September 24, 2009 – 8:54 am in Pre-Market Activity, , , , ,

Conexant One To Watch on Guidance (CNXT)

Conexant Systems Inc. (NASDAQ: CNXT) did something unusual even for a small cap stock.  The communications chip company raised its guidance.  It now sees EPS of $0.24 to $0.26 vs. $0.15 estimates.  It also reiterated Q4 revenues at $120 to $125 million vs. estimates of $122.27 million. It now expects core gross margins of 54% to 55% rather than 51% to 52% because of a richer than anticipated product mix.  A semiconductor company for communications chips raising guidance in this environment is rather rare, even for a $150 million market cap stock. The company also attributed better than expected cost management.  Shares are indicated up around $3.00 after a $2.88 close, although so far no volume has been seen.  Its 52-week trading range is $2.68 to $14.80.

Jon C. Ogg
September 30, 2008

Posted on: September 30, 2008 – 7:20 am in Earnings, Semiconductor,

Nasdaq Delisting Candidates, To The Pink Sheets

The list of possible delisting candidates is too long to publish here. These companies are called "non-compliant" usually for late SEC filings or stock prices which trade below the exchange minimum share price. Most of these companies can appeal and go through a process to remain listed.

The entire list is published.here. Among some of the notables:

Applied Digital Solutions (DIGA)

Atari (ATAR)

Children’s Place (PLCE)

Conexant (CNXT)

EntreMed (ENMD)

Force Protection (FRPT)

infoUSA  (IUSA)

Mindspeed (MSPD)

PixelWorks (PXLW)

QMed (QMED)

Sonic Foundry (SOFO)

Sonic Solutions (SNIC)

TranSwitch (TXCC)

Zila (ZILA)

Douglas A. McIntyre

Posted on: April 17, 2008 – 12:30 pm in Exchange News, , , , , , , , , , , ,

Conexant Will Try The Reverse Stock Split Game (CNXT)

Conexant Systems Inc. (NASDAQ: CNXT) is going to try a reverse stock split to juice its shares.  As the stock trades 6 million shares per day and is at the very lowest-end of its $0.55 to $2.09 trading range over the last year, it is of little surprise that the company will try this.  Conexant was literally a $100+ stock at one time back in the tech bubble days.

In a filing, the company said that shareholders at the annual shareholders meeting approved a proposal that would allow for a reverse stock split for a period of up to one year.  The company has also noted that John Marren, who came over from the old GlobespanVirata days, has resigned from the board in conjunction with its annual shareholders meeting.

This is one we have covered with caution in our weekly "10 Stocks Under $10" letter for quite some time.  The company is outside of listing requirements over its minimum price, making this even less of a surprise.  Other companies that have pursued reverse stock splits in recent times have been tech companies such as Sun Microsystems, JDS Uniphase, Nortel, and others.  You can ask around about the opinions of a reverse stock split, but you’ll find more indifference than anything.

Jon C. Ogg
February 22, 2008

Posted on: February 22, 2008 – 9:06 am in Stock Splits, Technology Companies,

The 52-Week Low Club (FNSR)(CNXT)

CDC Corp (CHINA) Ugly earnings. Falls to $4.15 from 52-week high of $11.45.

Finisar ((FNSR) No recent news. Fiber optic equipment maker falls to $1.38 from 52-week high of $4.21.

Conexant (CNXT) Second day of sell-off. Down to $.92 from 52-week high of $2.20

Retail Ventures (RVI) Bad quarter. Sells off to $4.15 from 52-week high of $23.30.

Quiksilver (ZQK) Apparel company drops outlook. Drops to $8.87 from 52-week high of $16.08.

Black & Decker (BDK) Housing hurts financial results. Down to $71.95 from 52-week high of $97.01.

Marriott (MAR) Travel stocks continue to sell off. Down to $31.34 from 52-week high of $52.

Starwood Hotels (HOT) Ditto. Weekly hotel room revenue numbers weak. Drops to $46.22 from 52-week high of $75.45.

Douglas A. McIntyre

Posted on: December 14, 2007 – 4:54 pm in HI/LOW, , , , , , , ,

The 52-Week Low Club (SCA)(CNXT)(ODP)(AMD)

Security Capital Assurance (SCA) Bond insurance company does not have enough capital to keep strong bond rating. Drops to $3.56 from 52-week high of $34.52.

CSK Auto (CAO) Company gets brokerage downgrade. Falls to $4.30 from 52-week high of $19.14.

Office Depot (ODP) Still falling after warning on sales. Drops to $14.11 from 52-week high of $41.06.

Neurocrine Biosciences (NBIX) FDA rejects company’s sleep drug. Shares off to $5.01 from 52-week high of $14.88.

NII Hldgs (NIHD) Company is participating in a December 18 third-generation license auction in Brazil. No other news. Falls to $43.37 from 52-week high of $90.43.

Conexant (CNXT) No news, but down to $.95 from 52-week high of $2.21.

AMD (AMD) Bad reaction to analyst day presentations. Falls to $8.42 from 52-week high of $23.

Douglas A. McIntyre

Posted on: December 13, 2007 – 4:01 pm in HI/LOW, , , , , , ,

Conexant (CNXT) Takes Big Slide

One of Wall St.’s most widely traded stocks, Conexant (CNXT) is off almost 7% to $.98, breaking below $1 for the first time this year.

Volume is an unusually heavy 17.5 million shares.

Douglas A. McIntyre

Posted on: December 13, 2007 – 3:20 pm in Technology Companies,

The 52-Week Low Club

Neurochem (NRMX) Continues to race for the bottom. On Monday, the company said its Alzheimer’s disease treatment candidate, Alzhemed, failed a late-stage trial. The NRMX says it has 15 to 18 months of cash left. Maybe. Drops to $2.16 from 52-week high of $26.51.

Conexant (CNXT) Israel’s Orckit Communications wins arbitration and CNXT has to pay $12 million. Does not seem like a lot but stock drops to $1.06 from 52-week high of $2.36.

Tenet Healthcare (THC) Credit Suisse analyst launched coverage on the company with an "Underperform" rating. Down to $3.29 from 52-week high of $8.69.

Lennar (LEN) Home builder. Enough said. Down to $27.26 from 52-week high of $56.54.

Centex (CTX) Home builder. Ditto. Down to $28.13 from 52-week high of $58.42.

Horton (DHI) Another home builder. Drops to $14.40 from 52-week high of $31.13.

Leapfrog (LF) Bad quarter recently and toy companies are not all the rage right now. Down to $6.91 from 52-week high of $11.56.

Douglas A. McIntyre

Posted on: August 28, 2007 – 3:02 pm in HI/LOW, , , , , , ,

Nasdaq Short Interest August 2007

Below is the short interest for major company stocks traded on the Nasdaq. The figures are from August 15 and compare to numbers from July 13, 2007.

Investors were not willing to bet on a consolidation among discount brokers with the short interest in Schwab and E*Trade rising. It appears they did believe that Whole Foods would complete its merger with Wild Oats, lowering short interest in WFMI.

Short interest in cable companies, especially Comcast and Charter fell, perhaps indicating a bottom for those stocks.

And, shorts moved out of Yahoo! indicating that many investors do not see its shares falling further.

Largest Short Positions

Level 3 (LVLT)                                    129.3 million shares short

Comcast (CMCSA)                             113.2 million shares

Microsoft (MSFT)                                 97.2 million shares

Charter (CHTR)                                    94.5 million shares

Sirius (SIRI)                                         91.0 million shares

Intel (INTC)                                          84.0 million shares

Yahoo! (YHOO)                                   62.3 million shares

Cisco (CSCO)                                     57.5 million shares

Applied Materials (AMAT)                    50.3 million shares

Oracle (ORCL)                                    46.3 million shares

Conexant (CNXT)                                 45.5 million shares

Symantec (SYMC)                              42.9 million shares

Sun Microsystems (SUNW)                 41.0 million shares

Largest Increase In Short Position

Expedia (EXPE)                                  9.2 million share increase

E*Trade (ETFC)                                  7.7 million share increase

ON Semi (ONNN)                              6.8 million share increase

Ebay (EBAY)                                     5.5 million share increase

NetFlix (NFLX)                                   4.9 million share increase

Oracle (ORCL)                                   4.7 million share incrase

Schwab (SCHW)                                3.4 million share increase

Tivo (TIVO)                                         3.1 million share increase

Largest Decreases In Short Interest

Whole Foods Market (WFMI)               9.3 million shares decrease

Charter                                              9.2 million share decrease

Opsware (OPSW)                               8.9 million share decrease

Yahoo!                                               8.5 million share decrease

Dell (DELL)                                        8.4 million share decrease

Applied Materials                                8.2 million share decrease

Crocs (CROX)                                     8.0 million share decrease

Comcast                                            6.6 million share decrease

Data from NASD and WSJ

Douglas A. McIntyre

    

Posted on: August 26, 2007 – 1:38 pm in HI/LOW, , , , , , , , , , , , , , , , , , , , , , ,

Shorting the NASDAQ Hi-Flyers (June 2007) (ATML, CNXT, CHTR, CMGI, FNSR, LVLT, PMCS, SIRI, SUNW, COMS)

Stock Tickers:    ATML, CNXT, CHTR, CMGI, FNSR, LVLT, PMCS, SIRI, SUNW, COMS

It is always interesting to see how short interest changes month to month in the lower priced more active stocks on NASDAQ that get attention from the fast money and retail investor with a degree of fervor.  Here is a list of the changes from May to June, and you can tell that the changes here show more short sellers increasing their activity over the last month.

Company (Ticker)                     JUNE      MAY      CHANGE
Atmel (ATML)                            10.67M   9.70M     +9.9%
Conexant (CNXT)                     45.8M    40.5M      +12.8%
Charter Comm. (CHTR)         90.8M    91.1M      (-0.25%)
CMGI (CMGI)                             33.5M    27.3M      +22.5%    
Finisar (FNSR)                         29.4M    25.2M      +16.6%
Level 3 (LVLT)                          119.9M   109.3M   +9.7%
PMC-Sierra (PMCS)                 28.1M    25.8M      +8.8%
SIRIS (SIRI)                               101M      91.2M     +10.7%
Sun Micro (SUNW)                   28.9M    30.2M       (-4.2%)   
3COM (COMS)                          25.8M     21.5M      +19.6%   

The NASDAQ 100 Trust (QQQQ) saw its short interest rise more than 26%, with its short interest carried at 197.6 million shares in June compared to 156.6 million in May.  Stay tuned Wednesday as we’ll have more of the sectors broken down for chips, Internet, biotech and more.

Jon C. Ogg
June 27, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: June 27, 2007 – 8:10 am in Short Interest, , , , , , , , , ,

Nasdaq Short Interest, June 2007

Below are the major short interest positions for stocks traded on Nasdaq for the period ending June 15 compared to comparable numbers for May.

Company                              Shares Short In June              Change

Intel     (INTC)                        100.1 million shares short       +23%

Sun Micro  (SUNW)                 29.0 million                           +4%

Sirius   (SIRI)                         101.1 million                          +11%

Oracle (ORCL)                         48.7 million                           +3%

Microsoft  (MSFT)                  113.9 million                           +15%

Yahoo!   (YHOO)                     72.6 million                             +8%

Conexant  (CNXT)                    45.8 million                           +13%

Applied Materials  (AMAT)       53.0 million                            +28%

Qualcomm  (QCOM)               31.9 million                            +20%

Amgen  (AMGN)                    42.0 million                             +64%

Level 3   (LVLT)                    120.0 million                            +10%

Starbucks    (SBUX)               25.9 million                             -1%

Comcast   (CMCSA)             113.4 million                            +1%

Dell   (DELL)                         34.2 million                             +5%

Nvidia  (NVDA)                      20.8 million                            +77%

Adobe  (ADBE)                     19.8 million                            +19%

Symantec  (SYMC)               50.7 million                            +15%

Ebay    (EBAY)                     32.5 million                              -4%

Charter   (CHTR)                   90.9 million                               nc

Dendreon  (DNDN)                40.1 million                              -2%

Apple (AAPL)                       29.9 million                             +7%

CMGI  (CMGI)                      33.5 million                            +23%

Douglas A. McIntyre

Posted on: June 26, 2007 – 8:07 pm in Uncategorized, , , , , , , , , , , , , , , , , ,