We have compiled earnings preview on each company using Thomson Reuters consensus estimates and added color on each if applicable.  Some of these are market moving, some are sector moving, and some are just interesting for traders to watch around the earnings reports.

Activision Blizzard Inc. (NASDAQ: ATVI) estimates are $0.56 EPS and $2.2 billion in revenues. At $12.55, the maker of World of Warcraft has been very range bound.

Bunge Ltd. (NYSE: BG) estimates are $1.57 EPS and $13.73 billion in revenues.

Carbonite Inc. (NASDAQ: CARB) estimates are -$0.23 EPS and $16.78 million in revenues. This will be a first real look of a full quarter and unfortunately this one has been cut in half as investors have tempered expectations for the personal data backup service provider.

Nuance has been thought of as a potential takeover name for Microsoft Corporation (NASDAQ: MSFT) and for Apple Inc. (NASDAQ: AAPL) on and off for some time.  This may not change the speculation status much.  But what this does accomplish is a new platform to “easily find content by speaking channel numbers, station names, show and movie names.”  This would allow for searching by content, actor, and genre.  The notion that this allows for staying connected through Twitter, Facebook and Skype may just be gravy.

Dragon TV was unveiled as a voice and natural language understanding platform for TV, device and set-top box OEMs and service operators geared toward making it easy to find and access the TV show that a subscriber wants to watch.

If Nuance can open this up to cable outfits Comcast Corporation (NASDAQ: CMCSA) and Time Warner Cable Inc. (NYSE: TWC), and to AT&T INc. (NYSE: T) for its uVerse, let alone DIRECTV, Inc. (NASDAQ: DTV) and Dish Network Corporation (NASDAQ: DISH) for satellite, then Nuance may get a much wider footprint.

How this gets monetized is up for anyone’s guess.  Nuance projected that about 1.6 billion TVs should be connected to the web by 2014 according to Strategy Analytics.  It even notes the difficulty in finding what is on television.  How many times have you been looking for a televised game or show and have no idea what channel it is on?

This will allow OEMs and service operators to deliver TVs, set-top boxes and applications that let consumers find and experience content with Nuance’s leading voice technologies.

Again, the trick is on the monetization.  If it can get a piece of a upcharge for the service then this may open up millions and millions more in revenues per month.  If it is a promotional feature, then this may just be a another brand building effort.

JON C. OGG

2012 Picks in Semiconductors from analyst Bobby Burleson:

Analog Devices Inc. (NYSE: ADI) reiterated Buy with $38 price target; Integrated Device Technology, Inc. (NASDAQ: IDTI) reiterated Buy with $7.00 price target.

“While we remain concerned about near-term softness in PCs and communications and acknowledge the potential for another number cut, we believe the worst cuts are behind us. Heading into 2012, we like names with broad-end market exposure and low PC exposure like Analog Devices and Integrated Device Technology.”

2012 Picks in Communications Technology from analyst T. Michael Walkley:

Apple Inc. (NASDAQ: AAPL) reiterated Buy with $560 price target; QUALCOMM Inc. (NASDAQ: QCOM) maintained Buy with $74.00 price target; and Sierra Wireless, Inc. (NASDAQ: SWIR) with a $9.00 price target.

“While we anticipate global handset units will increase by 7% YoY in 2012 to 1.72B units, we anticipate much faster growth trends for the smartphone  market. In fact, we are modeling 481M smartphone units in 2011 ramping to 650M units in 2012, or 35% YoY growth.”

2012 Picks in New Media & Location Technology from analyst Jeff Rath:

Trimble Navigation Limited (NASDAQ: TRMB); Velti PLC (NASDAQ: VELT); KIT Digital, Inc. (NASDAQ: KITD); and Rovi Corporation (NASDAQ: ROVI).

“We fully expect the US Pay-TV service provider eco-system to undergo an accelerating change as cable providers roll out more robust OTT/Hybrid video offerings in response to growing competitive pressures, and in an attempt to stem ongoing losses of its core video subscribers.”

2012 Picks in Enterprise Software from analyst Richard Davis:

Salesforce.com (NYSE: CRM) and Nuance Communications, Inc. (NASDAQ: NUAN).

“Software companies – at least firms with next generation architectures – are in great shape. Cloud software accounts for less than 10% of installed code. Barring horrific economic headwinds, the “revolutionaries” on which we focus our coverage are very likely to gain market share at the expense of legacy competitors”

2012 Picks in Internet from analyst Michael Graham:

Google Inc. (NASDAQ: GOOG) reiterated Buy with $725 price target and Zillow, Inc. (NASDAQ: Z) listed as n attractive acquisition target and the firm has an organic (non-M&A) price target of $32.00 for the stock.

“We believe the underlying drivers will be growth in online advertising, eCommerce, mobile commerce, and social networking adoption.”

These are the picks we have been sent by Canaccord Genuity’s research relations.  The firm has many other picks in technology which did not make the 2012 list.

JON C. OGG

We have earnings previews for the following: Analog Devices Inc. (NYSE: ADI); Brocade Communication Systems Inc. (NASDAQ: BRCD); Hewlett-Packard Co. (NYSE: HPQ); Tyson Foods Inc. (NYSE: TSN); Campbell Soup Co. (NYSE: CPB); Nuance Communications, Inc. (NASDAQ: NUAN); Pandora Media Inc. (NYSE: P); and Deere & Co. (NYSE: DE).  Estimates are from Thomson Reuters and these are broken out by day.

Monday

Analog Devices Inc. (NYSE: ADI) has estimates of $0.64 EPS and $728.17 million in revenue; next quarter estimates are $0.60 EPS and $707.37 million in revenue.  With shares around $35.50, the 52-week range is $29.23 to $43.28.

Brocade Communication Systems Inc. (NASDAQ: BRCD) is not a market mover but it is still way off its year high while some of its peers have been calling things better in their business of late.  Estimates are $0.10 EPS and $527.38 million in revenue; next quarter estimates are $0.11 EPS and $535.6 million in revenue.

Hewlett-Packard Co. (NYSE: HPQ) is hardly even in the midst of a turnaround.  Meg Whitman is still getting her hands around the business and Dell gave a mixed report of late.  Estimates are $1.13 EPS and $32.06 billion in revenue; next quarter estimates are $1.11 EPS and $31.44 billion in revenue. We will be looking at the company’s comments around manufacturing problems for drives for its PC around the flooding in Thailand.

Tyson Foods Inc. (NYSE: TSN) has estimates of $0.31 EPS and $8.19 billion in revenue; next quarter estimates are $0.39 EPS and $8.17 billion in revenue.  At $19.50, its 52-week trading range is $15.46 to $20.12.

Tuesday

Campbell Soup Co. (NYSE: CPB) has estimates of $0.79 EPS and $2.21 billion in revenue; next quarter estimates are $0.66 EPS and $2.16 billion in revenue.  Shares are right at $33.50 and the 52-week range is $29.69 to $35.66.  This one in the middle of a strategy change to get back to more flavorful soups and away from being such low-salt.

Nuance Communications, Inc. (NASDAQ: NUAN) is also set for Tuesday and the speech-to-text software leader’s estimates are $0.41 EPS and $393.33 million in revenue; next quarter estimates are $0.38 EPS and $378.78 million in revenue.  At $24.00, the 52-week trading range is $15.56 to $26.97.

Pandora Media Inc. (NYSE: P) is still kicking around after its IPO.  The online music playing company has estimates of -$0.01 EPS and $71.44 million in revenue; next quarter estimates are -$0.03 EPS and $82.25 million in revenue.  Its stock is around $12.55 and the post-IPO range has been $9.33 to $26.00.

Wednesday

Deere & Co. (NYSE: DE) has estimates of $1.43 EPS and $7.87 billion in revenue; next quarter estimates are $1.26 EPS and $6.17 billion in revenue.  At 74.50, Deere has a 52-week range of $59.92 to $99.80.
JON C. OGG

Akamai Technologies Inc. (NASDAQ: AKAM) is up on persistent rumors that it could be a Google takeover target.  After a 5% gan to $24.60, its 52-week range is $18.25 to $54.65.  It would require a much higher price to get a deal done and the current market cap is $4.5 billion.  Other investors have gone on to note, rather than that why not a Level 3 Communications Inc. (NASDAQ: LVLT) or a Limelight Networks, Inc. (NASDAQ: LLNW)?

AOL Inc. (NYSE: AOL) has been called a Yahoo! potential, but now it has also been rumored that private equity firms may be mulling a deal of some sort.  Shares are up 9% at $14.37 and the 52-week range is $10.00 to $27.65.  AOL’s current market cap is $1.5 billion.

Eastman Kodak Co. (NYSE: EK) is rumored to be selling its technology and imaging patents portfolio more often than you can count.  This company is dead without those patents, but oh well.

InterDigital, Inc. (NASDAQ: IDCC) would have to rally nearly 75% to challenge its 52-week high of $82.50 again.  This one is currently in the “looking at strategic alternatives” phase and many feel that its patent portfolio for 2G, 3G, 4G, and IEEE 802 would make the company a prime candidate.  After the Google-Motorola deal, anything is possible but we do not have any real feel here to add much positive or negative at this point.

Motricity, Inc. (NASDAQ: MOTR) has just cratered since its 2010 IPO.  It has been too embarrassing and shares are under $2.00.  In late-September it received $20 million in financing and announced that it was exploring strategic alternatives.  What an embarrassment.

Netflix. Inc. (NASDAQ: NFLX) has started to loosely be discussed about “the value of its assets and clients” by some investors, but it currently feels like a “long and very-very wrong” hope or act of desperation.  At $117.85, its shares are down from over $300 in just over 3 months.  Keep in mind that the market cap is still $6.2 billion and usually imploded stocks have to languish for months before the company gets a large enough shareholder base that owns the stock at a lower level to approve a deal.

Nuance Communications, Inc. (NASDAQ: NUAN) is a name that has come up over and over as a takeover name and it hit a 52-week high of $23.30 today after more than a 4% rise.  This one is the last huge independent voice recognition software player.  It is again trading like a takeover candidate and its $7.1 billion market cap is about 5-times expected sales and about 17-times expected earnings.

Primus Telecommunications Group, Inc. (NASDAQ: PTGI) is still very small and it recently hired Jefferies to explore strategic alternatives.  Its market value is about $155 million and the $11.37 price compares to a 52-week range of $7.35 to $16.25.

Research In Motion Limited (NASDAQ: RIMM) keeps coming up as a rumor mill name for a restructuring, sale review, investor activist, and more.  With all of the problems, ask yourself this… “Who wants to buy another Palm at a premium much higher than the $12 billion RIM is worth today?”… Our guess: not many.

Sony Corporation (NYSE: SNE) has been rumored of late to be interested in buying the LM Ericsson Telephone Co. (NASDAQ: ERIC) stake in the LM-Ericsson handset deal.  Who knows on that one.

Yahoo! Inc. (NASDAQ: YHOO) has been out looking at alternatives and the new latest is that private equity firms like KKR, Blackstone, and a few others could be considering a club-deal.  This is a $20 billion market cap, so a buyout is not so easy for many.  Microsoft denied its interest in re-offering for a buyout and Alibaba is a yes-maybe status as of last look.

Tallying up the rumor mill here would seem silly.  There are too many companies here to count legitimately even if Apple could write a check for all of the companies and start over.  Don’t bet on that happening.  Still, this is how full the rumor mill has been of late.  Some deals may get done, but no way all of these get done.  More important is the consideration that it is possible that none of these rumors come to fruition.

JON C. OGG

Activision Blizzard, Inc. (NASDAQ: ATVI) Cut to Neutral at BofA/ML.
Anadarko Petroleum Corp. (NYSE: APC) Raised to Buy at Canaccord Genuity.
The Blackstone Group L.P. (NYSE: BX) Started as Outperform with $20 target at Credit Suisse.
Dollar General Corporation (NYSE: DG) Cut to Hold at Deutsche Bank.
Dollar Tree, Inc. (NASDAQ: DLTR) Cut to Neutral at Piper Jaffray.
Electronic Arts Inc. (NASDAQ: ERTS) Raised to Overweight at Piper Jaffray.
Hexcel Corporation (NYSE: HXL) Raised to Buy at BofA/ML.
Kennametal Inc. (NYSE: KMT) Cut to Neutral at BofA/ML.
Marsh & McLennan Companies, Inc. (NYSE: MMC) Started as Hold at Deutsche Bank.
Nuance Communications, Inc. (NASDAQ: NUAN) Cut to Sell at Goldman Sachs.
Orexigen Therapeutics, Inc. (NASDAQ: OREX) Cut to Hold at Jefferies.
Petrohawk Energy Corporation (NYSE: HK) Cut to Market Perform at BMO; Raised to Buy at SunTrust.
Pfizer Inc. (NYSE: PFE) Raised to Outperform at BMO.
Plexus Corporation (NASDAQ: PLXS) Cut to Underperform and called the Bear of the Day at Zacks Investment Research.
Qualcomm, Inc. (NASDAQ: QCOM) Raised to Outperform and called the Bull of the Day by Zacks Investment Research.
Walgreen Co. (NYSE: WAG) Raised to Hold at Citigroup.
Wal-Mart Stores, Inc. (NYSE: WMT) Cut to Hold at Deutsche Bank.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

AgFeed Industries, Inc. (NASDAQ: FEED) is down 10% this morning after its earnings showed “an extremely difficult operating environment as a result of a series of severe floods throughout its area of operations.”  Shares are down 10.8% at $2.46 on over 65,000 shares.

Ambac Financial Group, Inc. (NYSE: ABK) is getting crushed after earnings because it disclosed that it is working on a bankruptcy filing as a contingency.  Shares are down 23% at $0.69 on over 1.5 million shares.

Capital Product Partners L.P. (NASDAQ: CPLP) is trading lower on a secondary offering as it plans to offer 5.5 million units to acquire MR Tanker M/T Assos for $43.5 million in proceeds.  Shares are down 7% at $8.48 on about 25,000 units.

Fossil, Inc. (NASDAQ: FOSL) is rising on stronger than expected second quarter earnings and a raised 2010 outlook.  Shares are up 7.5% at $45.65 on almost 40,000 shares.

Grand Canyon Education, Inc. (NASDAQ: LOPE) beat earnings estimates, but its guidance was short of estimates.  Can that be a shock considering the attack on for-profi education?  Apparently it is an excuse to sell the stock all over again.  Shares are down over 8% at $18.50 on thin volume.  The 52-week trading range is $15.87 to $28.46.

JA Solar Holdings Co., Ltd. (NASDAQ: JASO) is getting roasted in the sun a bit after posting a profit and raising its sales views.  Shares are down 3.3% at $6.35 on about 200,000 shares.  The 52-week range is $3.22 to $6.95.

MBIA Inc. (NYSE: MBI) is trading up after it reported a profit in the quarter.  Shares were up over 7% at $9.90 on over 400,000 shares.

Netflix, Inc. (NASDAQ: NFLX) is trading lower after signing a deal with EPIX where Netflix members can “instantly watch an array of new releases and library titles from EPIX streamed over the Internet from Netflix.”  Shares are down 1.8% at $114.80 on over 30,000 shares.

Nuance Communications, Inc. (NASDAQ: NUAN) had soft earnings and guided in-line for the quarter ahead.  It is an earnings nuance… Shares of the speech recognition software leader are down 9.4% at $15.74 on over 200,000 shares.

Penwest Pharmaceuticals Co. (NASDAQ: PPCO) is trading up only marginally after its Endo Pharmaceuticals buyout news.  Shares are up almost 5% at $4.96 on the deal that gives the company almost no premium.  The 52-week trading range was $1.80 to $4.89.

Qiagen NV (NASDAQ: QGEN) beat earnings but said it is eyeing large acquisitions.  The ADRs are down 3.7% at $18.82 on 139,000 shares and the 52-week trading range is $18.06 to $24.00.

QuinStreet, Inc. (NASDAQ: QNST) is a recent IPO and it is surging after earnings.  Shares are up 14.5% at $11.46 on only about 5,000 shares.  Its post-IPO trading range is $9.91 to $18.25.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Aruba Networks (ARUN) Raised to Neutral at JPMorgan.
CommScope (CTV) Raised to Overweight at JPMorgan.
Dr Pepper Snapple (DPS) Raised to Neutral at JPMorgan.
Express Scripts (ESRX) Raised to Buy at UBS.
Genzyme (GENZ) Started as Buy at Collins Stewart.
Intuitive Surgical (ISRG) Raised to Buy at Lazard.
Lam Research (LRCX) Raised to Outperform at Oppenheimer.
Maxim (MXIM) Raised to Buy at Canaccord.
Nuance Communications (NUAN) Started as Buy at Canaccord.

JON C. OGG

• AmerisourceBergen (ABC) Started as Buy at Jefferies.
• Broadcom (BRCM) Raised to Outperform at Baird.
• Coach (COH) Raised to Buy at Lazard.
• Genentech (DNA) Raised to Buy at Jefferies.
• Interval Leisure Group (IILG) Started as Outperform at FBR.
• Lexmark (LXK) Raised to Buy at Citigroup.
• Nuance (NUAN) Raised to Buy at Goldman Sachs.
• Steel Dynamics (STLD) Raised to Buy at Goldman Sachs.
• Tellabs (TLAB) Raised to Hold at Jefferies.

Jon C. Ogg
October 22, 2008

The company said that it intends to use the net proceeds from this offering for general corporate purposes such as working capital and to fund possible investments in and acquisitions of businesses, partnerships, minority investments, products or technologies. The gross proceeds before any discounting, dilution, and selling fees would come to roughly $104.8 million.  Prior to any dilution, it has a $3.98 Billion market cap.  At the end of last quarter it listed about $354 million in cash and liquidity, but it also has some $897 million in direct long-term debt.

What is interesting is that we just named this as one of the "8 Companies Microsoft Should Buy" after its failed Yahoo! deal to our SPECIAL SITUATIONS newsletter and we named part of the reason being its extensive portfolio of speech to text software. 

You can join our open email distribution list to hear about other secondary offerings, mergers, special financings, IPO’s, restructurings, and other special situations.

Shares closed today at $18.80, and shares fell about 4% after-hours on the news. 

Jon C. Ogg
June 4, 2008