Posts for Ticker ‘RMBS’

The Unusual Suspects (APP, BRK-A, CPB, MTXX, MCO, MHP, RMBS, QQQQ, GDL, UNH)

bull-and-bear-imageIt is the weekend, albeit a long three-day weekend for Labor Day.  Earnings season is done, gone, bye-bye, but this coming week there are going to be some key events and key stocks to watch including American Apparel Inc. (AMEX:APP), Campbell Soup Co. (NYSE: CPB), Matrixx Initiatives Inc. (NASDAQ: MTXX), Moody’s Corp. (NYSE: MCO), McGraw-Hill (NYSE: MHP), Rambus, Inc. (NASDAQ: RMBS).  On bigger market pundit calls, we want to watch the key ETF and ETN products of PowerShares QQQ (NASDAQ: QQQQ), the Semiconductor HOLDRS (NYSE: SMH), and Technology Select Sector SPDR (NYSE: XLK), SPDR Gold Shares (NYSE: GLD), the Market Vectors Gold Miners ETF (NYSE: GDX), and the Ultra Gold ProShares (NYSE: UGL).  Elsewhere, there is the death of the PowerShares DB Crude Oil Double Long ETN (DXO).  Sears Holdings Corporation (NASDAQ: SHLD) will also be key to watch because of a response to a nasty Barron’s article.

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Posted on: September 5, 2009 – 8:31 am in Calendar, Charts, Commodities, Labor & Unions, Mergers and Buy Outs, Metals, Rumors, Trading Alert, , , , , , , , , ,

Top Day Trader Alerts (AIG, CMED, FNM, FRE, NVAX, RMBS, SQNM)

These are this Tuesday’s top day trader and active trader alert stocks.  We have links through to each with more detailed price/volume analysis over at VSinvestor.com:

American International Group, Inc. (NYSE: AIG) is getting hit again, but this time on a brokerage firm downgrade.

China Medical Technologies, Inc. (NASDAQ: CMED) is down on fairly active volume after it announced that revenues rose 29% but the net loss or earnings were down over 90%.

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are seeing a second morning of selling with most other speculative financial stocks.

Novavax, Inc. (NASDAQ: NVAX) is hitting 52-week highs on positive flu study data.

Rambus Inc. (NASDAQ: RMBS) continues the selling this morning after after-hours selling on unconfirmed data.

SEQUENOM Inc. (NASDAQ: SQNM) is trading lower and giving back much of Monday’s gain since no news has hit regarding its Down’s test….

If you wish to be notified by email when the top day trader alerts hit, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more, you can join our open email distribution list which goes out several times per week.

JON C. OGG

Posted on: September 1, 2009 – 8:53 am in Pre-Market Activity, Trading Alert, , , , , , ,

Rambus Giving Some Up & Raising Cash (RMBS)

Burning Money PicRambus Inc. (NASDAQ: RMBS) is tempering some of its guidance, which may lend at least some additional credence that investors need to keep justifying higher prices on news that is only so-so or only supports green shoots.  Rambus revised its June quarter guidance for revenue to be between $26.7 million and $27.2 million .  Rambus had initially provided revenue guidance for the quarter of between $27 million and $30 million.
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Posted on: June 22, 2009 – 3:11 pm in Bonds, Earnings Warning, Secondary Offering, Semiconductor,

Rambus Scores (RMBS)

Money Stack ImageRambus Inc. (NASDAQ:RMBS) is seeing a surge in trading this morning.  The chip process designer announced that the FTC issued an order dismissing the remainder of its case against Rambus after a recent denial of the Commission’s request for certiorari with the United States Supreme Court to review the Rambus case.  According to Rambus, this brings the seven-year matter to a close.
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Posted on: May 14, 2009 – 8:14 am in Law, Regulation, Semiconductor, Trading Alert,

One Last Day of Chip Earnings (BRCM, IDTI, KLAC, MXIM, MCHP, PMCS, RMBS, VSEA)

Semiconductor_imageFor those who have felt that this earnings season was one of the more dismal moments for technology, today should mostly mark the end for the semiconductor companies and related stocks.  Not entirely, but mostly.  On deck after the close are Broadcom Corp. (NASDAQ: BRCM), Integrated Device Technology Inc. (NASDAQ: IDTI), KLA-Tencor Corporation (NASDAQ: KLAC), Maxim Integrated Products Inc. (NASDAQ: MXIM), Microchip Technology Inc. (NASDAQ: MCHP), PMC-Sierra Inc. (NASDAQ: PMCS), Rambus Inc. (NASDAQ: RMBS), and Varian Semiconductor Equipment Associates Inc. (NASDAQ: VSEA).

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Posted on: January 29, 2009 – 1:51 pm in Earnings, Semiconductor, , , , , , , ,

Can Rambus Regain Its Shine? (RMBS, MU)

Rambus_logoCalling last week a rough spot for Rambus, Inc. (NASDAQ: RMBS) might be the understatement of the year.  This was after a federal judge in Delaware ruled that the chip patent shop could not enforce some of its patents against Micron Technology Inc. (NYSE: MU).  Rambus is far from dead, but this case could at least in theory go to the core of patent shops which manufacture nothing on their own which and live off of royalty and license payments from manufacturers.

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Posted on: January 12, 2009 – 8:59 am in Law, Regulation, Semiconductor, Shareholder Issues, ,

Media Digest 3/27/2008 Reuters, WSJ, NYT, FT, Bloomberg

According to Reuters, Oppenheimer cut is earnings forecasts for Merrill Lynch (MER) and UBS (UBS) a day after cutting Citigroup (C) and Bank of America (BAC).

Reuters reports that the Meriwether hedge fund is down 28% so far this year.

Reuters reports that Tata Motors say it purchase of Jag and Rover from Ford (F) will improve its balance sheet.

Reuters writes that the buyers of Clear Channel (CCU) have sued banks to close the $19 billion deal.

Reuters writes that earnings at Oracle (ORCL) missed some estimates and the stock fell.

Reuters also reports that Motorola (MOT) will split itself into two companies.

The Wall Street Journal writes that Comcast (CMCSA) and file sharing company BitTorrent will work together.

The Wall Street Journal reports that AMD (AMD) has launched its new family of chips.

The Wall Street Journal reports that Paulson want the Fed to have more power over securities firms.

The Wall Street Journal writes that Citigroup has settled a large lawsuit over the Enron collapse.

The Wall Street Journa reports that Nokia (NOK) is making a number of moves to take handset share in the US.

The New York Times writes that home equity loans may be the next round in the credit crisis.

The New York Times reports that Congress is demanding details about the Bear Stearns (BSC) deal.

The New York Times writes that Take-Two (TTWO) has rejected an offer from Electronic Arts (ERTS).

The New York Times reports that oil moved up sharply to $106 a barrel.

The FT writes that Rambus (RMBS) won a major patent suit

Bloomberg writes that taxpayers may be liable for billions of dollars from Fed and Treasury efforts to help financial firms.

Douglas A. McIntyre

Posted on: March 27, 2008 – 2:55 am in Press Digest, , , , , , , , , , , , ,

Could Qimonda Be Acquired? (QI, MU, RMBS)

There is an interesting research note out of American Technology Research that questions whether or not Qimonda AG (NYSE: QI) could be a takeover candidate.  Since its first quarter earnings, shares are up some 50%, and AmTech believes shares have rallied on speculation the company will be acquired by a competitor.  At current prices it trades at 0.88-times book value and 1.4-times AmTech’s end of year book value estimate. 

This notes that out of the DRAM manufacturers, Micron (NYSE: MU) is the only company that would consider acquiring it.  This also notes that a non-US company would face ‘tremendous’ scrutiny from our government.  AmTech notes that this would also potentially free up Micron from its Rambus (NASDAQ: RMBS) battle over intellectual property as Qimonda has an existing license agreement with Rambus.  Another point is that would allow Micron to build market share, remove a competitor, and have scaling advantages in a DRAM upswing.  Its specialty segment commands a leading market share that would allow Micron to market itself and offset margin declines in commodity DRAM.

AmTech notes that it does not have any specific information on any transaction.  But it also notes that Qimonda likely can’t raise funds without massive dilution. 

  • AmTech noted: "We believe both companies have chatted in the past about a possible deal and that Micron has scrubbed the deal as well as other memory manufacturers given its positive cash balance and need to get bigger to scale its above industry expense ratios."

AmTech noted that Qimonda’s financial situation will continue to deteriorate with cash burn rates being a key concern.  AmTech maintains its NEUTRAL rating as absent a takeover bid.  Its target price is raised to $6.00 from $5.00.  Shares of Qimonda closed at $7.34 yesterday and are down almost 3% right after the open this morning.  Its 52-week trading range is $3.51 to $17.29, and it traded even higher than that in 2006 after coming public.

247WallSt.com hasn’t pondered a deal of this magnitude.  Micron has many of its own issues to fix.  With a market cap of almost $2.5 Billion, a deal of this size might take up most of the liquidity that Micron needs to survive on its current path.  We have noted on our own how the turnaround at Micron seems like it just won’t turn. We have also noted on our own how Micron needs to explore its own initiatives, or at least for units.

Jon C. Ogg
February 5, 2008

Posted on: February 5, 2008 – 9:58 am in Analyst Calls, Mergers and Buy Outs, Semiconductor, , ,

Rambus Earnings: Heads or Tails? (RMBS)

Rambus Inc. (NASDAQ: RMBS) has just posted earnings with a net loss of 0$0.14 EPS on revenues of $40.5 million.  First Call had estimates of -$0.10 EPS and $40 million in revenues.  There may be items in that net loss number, so we’d evaluate the conference call and items listed in the press release before hanging our hat on any numbers..

Rambus noted its cash and equivalents at December 31, 2007 were $440.9 million.  The company noted a rise in litigation expenses up $4.4 million sequentially as general litigation expenses for the quarter were $16.1 million.

No guidance was offered, so treat this as an incomplete report.  Shares closed up 1.3% at $20.13 in regular trading today, and after the report shares were just trading down about 1% at $19.86 in thin volume after-hours trading activity.  The 52-week trading range is $12.05 to $23.95.

Jon C. Ogg
February 4, 2008

Posted on: February 4, 2008 – 4:29 pm in Earnings, Semiconductor, ,

An Earnings Look Ahead On Rambus (RMBS)

On Monday after the close, we’ll get to see earnings out of Rambus Inc. (NASDAQ: RMBS). The estimates from First Call for the royalty chip company are -$0.10 EPS on $40 million in revenues, although we caution this is very thinly covered .  Estimates for fiscal 2008 are $0.25 EPS on $240.5 million in revenues.

It appears that analysts have an average price target of $28.  If Friday’s closing prices are any indicator and if the earnings were coming out immediately, it appears that options traders would be pricing in a move of up to $1.25 to $1.40 in either direction.

If you have been following Rambus, you’ll probably remember that it recently escaped the options probe mostly unscathed.  There was also the recent departure of its chief legal officer that many had noted was responsible for many of the design wins that had allowed it to keep its royalties.

Rambus’ 52-week trading range is $12.05 to $23.95.

Jon C. Ogg
February 2, 2008

Posted on: February 2, 2008 – 9:52 am in Earnings, Semiconductor, ,

Pre-Market Stock News (December 6, 2007)

Below is some of the top pre-market news affecting individual shares that 247WallSt.com is reviewing:

  • AMERCO (NASDAQ: UHAL) announce a $50 million share buyback plan.
  • Children’s Place Retail Stores (NASDAQ: PLCE) NOV s-s-s were +3%.
  • Coca-Cola (NYSE: KO) announced its CEO succession plan, Kent will replace Isdell in July 2008.
  • Costco (NASDAQ: COST) same-store sales rose 9%. Analysts had expected 6.6%.
  • Eli Lilly (NYSE: LLY) put 2008 EPS guidance at $3.85-4.00, slightly above consensus.
  • Family Dollar (NYSE: FDO) issued downside guidance with same-store-sales.
  • Freeport-McMoRan (NYSE: FCX) was noted as Cramer’s Top Mining & Minerals stock on MAD MONEY.
  • GameStop Corp. (NYSE:GME) will replace Dow Jones (NYSE:DJ) in the S&P 500 Index on date TBA.
  • Hoku Scientific (NASDAQ: HOKU) shares trading up 35% after it signed a term sheet for financing its Polysilicon Plant in Idaho with $185 million.
  • Limited Brands (NYSE: LTD) NOV s-s-s -7%.
  • Pacific Sunwear (NASDAQ: PSUN) NOV s-s-s +2.3%.
  • Rambus (NASDAQ: RMBS) rose 1.7% to $20.19 as SEC dropped options investigation with no action recommended.
  • Sierra Pacific (NYSE: SRP) filed to sell 12 million shares in a secondary.
  • Toll Brothers (NYSE: TOL) reported its first quarterly loss in two decades; EPS were -$0.52 versus -$0.47 estimates.
  • VF Corp. (NYSE: VFC) noted as Buy by Cramer on MAD MONEY.

Jon C. Ogg
December 6, 2007

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

Posted on: December 6, 2007 – 8:06 am in Pre-Market Activity, , , , , , , , , , , , , , ,

Rambus Escapes SEC Options Probe Unscathed (RMBS)

Rambus Inc. (NASDAQ:RMBS) has announced that it received notification from the SEC stating that the informal investigation into Rambus’s past stock option practices has been terminated and that no enforcement action has been recommended to the Commission.

Shares of Rambus closed up 3% with a strong semiconductor market today at $19.84.  Shares were up 1.7% at $20.19 on last look in after-hours trading, and the 52-week trading range is $12.05 to $23.95.

Jon C. Ogg
December 5, 2007

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

Posted on: December 5, 2007 – 8:38 pm in Options, SEC, Semiconductor,

Media Digest 11/1/2007 Reuters, WSJ, NYTimes, FT, Barron’s

According to Reuters, US car sales are expected to have fallen in October.

Reuters writes that China has approved the trading of stock futures.

Reuters reports that Google (GOOG) is in talks with Sprint (S) about the wireless carrier marketing it G-phone handsets.

Reuters writes that Wal-Mart (WMT) will begin its big holiday discounting period about three weeks ahead of the normal date.

The Wall Street Journal writes that the CEO of Bear Stearns (BSC) faces sharp criticism for being out of his office during the days when two hedge funds failed.

The Wall Street Journal writes that China raised fuel prices amid a shortage in some areas.

The Wall Street Journal writes that IBM (IBM) will spend over a billion to improve its data security management business.

The New York Times writes that Citigroup’s (C) financial problems could force it to lower its dividend.

The New York Times writes that a new $75 billion superfund will not resuscitate troubled investment funds.

The New York Times writes that two senior executives left Citi yesterday as fears increase that the bank may report more losses.

Barron’s writes that shares of Rambus (RMBS) fell on weak results.

CNN Money writes that Chrysler will cut over 2,000 temporary and salaried workers.

Douglas A. McIntyre

Posted on: November 1, 2007 – 3:16 am in Press Digest, , , , , , ,

Rambus Legal Chief Quits… Better or Worse? (RMBS)

Rambus Inc. (NASDAQ:RMBS) announced after the close that its senior legal advisor John Danforth who had been Senior Legal Advisor since July 2006, and prior to that had been its first general counsel.  He had been working under a January 2006 employment agreement, which, ran through October 22, 2007 and the resignation is effective October 22, 2007.

“We want to thank John for his years of hard work and loyal service,” said Tom Lavelle, senior vice president and general counsel for Rambus. “The Company had significant litigation successes during his tenure. The Company is particularly pleased with, among other things, John’s work in defending the Company’s intellectual property rights, including obtaining positive outcomes in the Court of Appeals for the Federal Circuit in the Infineon case, and in the first two phases of the ongoing Hynix patent case. In these and other areas, the Company overcame significant legal hurdles, which John and his team addressed in a highly professional and effective manner. We thank John for his years of hard work for Rambus and wish him the best in his future endeavors.” 

Normally we’d not even give this very much of a thought.  But Rambus is a company which has been a basically a lawsuit company to protect its revenue stream over its design patents and licenses.  Danforth was instrumental during part of the Hynix case and winning the Infineon case.  Here is a full link to the Rambus litigation site.

24/7 Wall St. would like to know if this means the legal issues are winding down and things are stabilizing, or if this means they are about to heat back up.  That probably won’t be known for some time and we’ll wait to see the analyst calls tomorrow and Monday.  This week the company announced it had regained NASDAQ compliance and this morning it set October 31 as its earnings date.

Jon C. Ogg
October 25, 2007

Posted on: October 25, 2007 – 3:54 pm in Law, Management Change, Semiconductor, , ,

Short Interest: NASDAQ Semiconductor Stocks (June, 2007)

Stock Tickers: QQQQ, NVDA, MXIM, AMAT, INTC, KLAC, MCHP, SNDK, ISIL, ALTR, ATML, LLTC, NVLS, ONNN, XLNX, IDTI

This pretty much confirms the rise in the June-2007 short interest of NYSE-listed chip stocks that we observed last week.  Here is the short interest for June 2007 versus May 2007, and we noted the change on each.

Stock (Ticker)                                          June        May    Change
NVIDIA (NVDA)                                        20.7M    11.7M    +76.5%
Maxim Integrated Prod. (MXIM)            11.9M    9.16M    +29.8%
Applied Materials (AMAT)                        53M    41.59M   +27.48%
Intel (INTC)                                            100.1M    81.2M    +23.3%
KLA-Tencor (KLAC)                              21.14M    17.1M    +23.2%
Microchip Tech.    (MCHP)                     8.77M    7.64M    +14.8%
SanDisk (SNDK)                                   24.57M   21.58M   +13.9%   
Intersil Corp. (ISIL)                                 7.86M     7.76M     +1.2%
Altera (ALTR)                                           22.1M     21.9M     +1%
Atmel (ATML)                                           10.6M     9.70M     +9.9%
Linear Tech (LLTC)                                18.4M     18.4M      flat
Novellus (NVLS)                                     15.1M      15.3M     -1.1%
ON Semiconductor (ONNN)                 24.1M      25.5M    -5.7%
RAMBUS (RMBS)                                               7.62M        8.27M      -7.9%
Xilinx (XLNX)                                           21.28M    23.9M      -10.9%
Integrated Device Tech. (IDTI)              4.27M     5.56M     -23%

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.

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 – 3:45 am in Semiconductor, Short Interest, , , , , , , , , , , , , , , , ,