24/7 Wall St. » TKLC

24/7 Wall St. Closing Bell (K, ALU, TOL, PAY, YRCW, GRPN, TESO, BSFT, CCJ,CDE,KWK, NAT, FRPT, ADPI, TKLC, OVTI, DMND)

Paul Ausick — Mon, 07 Nov 2011 21:09:51 +0000

Markets opened up a bit this morning, but by 10:00 a.m. equities had turned back down, with the DJIA sliding down nearly -200 points before rallying back to its opening mark in the early afternoon. Shares simply couldn’t get any traction in any sector, with heath care stocks losing the least. Crude oil rose to just above $95/barrel, and the firing of two California state oil & gas officials by the governor has raised hopes for speedier permitting in that state, where an estimated trove of 15 billion barrels of shale oil is at stake. In the last half hour of trading, equities rebounded on their way to a gain for the day.

The unofficial closing bells put the DJIA up more than 85 points to 12,068.39 (0.71%), the NASDAQ rose more than 9 points (0.34%) to 2,695.25, and the S&P 500 rose 0.63% or nearly 8 points to 1,261.12.

There were several analyst upgrades and downgrades today, including Kellogg Co. (NYSE: K) cut to ‘market perform’ at William Blair. Other changes included Alcatel-Lucent SA cut to ‘sell’ at Citigroup; Toll Brothers, Inc. (NYSE: TOL) raised to ‘buy’ at Citigroup; VeriFone Systems Inc. (NYSE: PAY) started at ‘buy’ at Citigroupl; YRC Worldwide, Inc. (NASDAQ: YRCW) maintained at ‘underperform’ with a price target of $0.05 at Credit Suisse; and Groupon Inc. (NASDAQ: GRPN) started at ‘buy’ at Benchmark.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Tesco Corp. (NASDAQ: TESO) is down about -18%, at $13.34; BroadSoft, Inc. (NASDAQ: BSFT) is down less than -0.5%%, at $36.28; Cameco Corp. (NYSE: CCJ) is down nearly -7%, at $20.00; Coeur d’Alene Mines Corp. (NYSE: CDE) is up nearly 8%, at $29.42; Quicksilver Resources Inc. (NYSE: KWK) is down more than -9%, at $7.62; and Nordic American Tankers Ltd. (NYSE: NAT) is down nearly -4%, at $13.64.

Several other standouts from today are as follows…

Force Protection, Inc. (NASDAQ: FRPT) is up more than 30%, at $5.50. The armored truck maker is being acquired by General Dynamics Corp. (NYSE: GD for $5.52/share in a deal worth $360 million.

American Dental Partners, Inc. (NASDAQ: ADPI) is up nearly 79%, to $18.57. The company is being acquired by a private equity firm for $317 million, or $19/share, an 83% premium to Friday’s closing price.

Tekelec (NASDAQ: TKLC) is up more than 13%, at $11.20. The telecom equipment maker is being acquired by a private equity firm for about $760 million.

OmniVision Technologies, Inc. (NASDAQ: OVTI) is down nearly -18%, at $14.23. The company revised its outlook to include a sharp drop in fourth-quarter revenues. Shares are down about -50% since the beginning of the calendar year.

Diamond Foods, Inc. (NASDAQ: DMND) is down about -15.5%, at $39.21, after posting a new 52-week low of $38.45 earlier in the day. The company’s stock continues to get beaten up due to a delay in its acquisition of the Pringles business from Proctor & Gamble (NYSE: PG) and an investigation into payments to walnut growers.

Stay tuned for Tuesday. Philadelphia Federal Reserve president Charles Plosser is giving a speech in the morning and Minneapolis Federal Reserve president Narayana Kocherlakota gives a speech in the afternoon. We have noted the following events (all times Eastern):

7:45 a.m. – International Council of Shopping Centers-Goldman Sachs same-store sales
8:55 a.m. – Redbook weekly report on retail sales
1:00 p.m. – US Treasury 3-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ADPI, ALU, BSFT, CCJ, CDE, DMND, FRPT, GRPN, K, KWK, NAT, OVTI, PAY, TESO, TKLC, TOL, YRCW

Top Active Trader Alert Stocks (OVTI, SOL, TKLC, VRUS)

Mike Sauter — Mon, 07 Nov 2011 13:53:21 +0000

Active traders and day traders have many stocks to choose from this Monday morning. We are tracking news and moves in shares of OmniVision Technologies (NASDAQ: OVTI), Pharmasset, Inc. (NASDAQ: VRUS), ReneSola Ltd. (NYSE: SOL), and TKLC (NASDAQ: TKLC).

OmniVision Technologies (NASDAQ: OVTI) is down 17.5% before market open to $14.28, relative to a 52-week range of $12.60 – $37.04.

Pharmasset, Inc. (NASDAQ: VRUS) is up 8.5% before market open to $74.80, relative to a 52-week range of $19.62 – $88.52.

ReneSola Ltd. (NYSE: SOL) is down more than 5% premarket to $2.25, relative to a 52-week range of $1.46 – $14.13.

TKLC (NASDAQ: TKLC) is up 10.4% before market open to $10.93, relative to a 52-week range of $5.64 – $13.98.

Filed under: General Tagged: OVTI, SOL, TKLC, VRUS

Katelia Capital Hammers Tekelec Board

247wallst — Tue, 15 Feb 2011 14:41:33 +0000

Katelia Capital Investments, which owns a large number of shares in Tekelec (NASDAQ: TKLC), has begun a push to add a new board member which the fund has virtually hand-picked. Tekelec engages in the design, development, manufacture, marketing, sale, and support of telecommunications products and services. Its stock trades at $8.60 near a 52-week low on a range of $19.89/$8.14. It is clear why Katelia Capital wants a board change.

Tekelec’s fourth quarter numbers were abysmal as was its forecast of next year.

The letter filed as an attachment to a 13D:

Chairman Tekelec 5200 Paramount ParkwayMorrisville, NC 27560 USA

Copy: By email in PDF to Mr. Mark Floyd , Mr. Krish Prabhu , Mr. Stuart Kupinsky

Dear Mr. Floyd:
We are writing to you on behalf of Katelia Capital Investments Ltd. (KCI), which, as you may be aware, owns 6,133,922 shares (approximately 8,94%) of Tekelec’s outstanding stock. We would respectfully request that you consider nominating Mr. Jean-Yves Courtois to serve as a member of Tekelec’s Board. We would also highly recommend the size of the Tekelec Board of Directors be set at a maximum of eight Directors, which number should include Mr. Jean-Yves Courtois and the CEO that the Company is currently recruiting.

Representatives of KCI were able to get to know Mr. Jean-Yves Courtois during his tenure as Chairman and CEO of Orolia, a listed company on Nyse Euronext (ALORO), during the past few years and believe that he has an excellent understanding of Tekelec’s challenges. KCI believes that Mr. Jean-Yves Courtois would be a great addition to Tekelec’s Board. Representatives of KCI have recently had discussions with Mr. Jean-Yves Courtois and confirm that Mr. Jean-Yves Courtois would be interested in serving as a member of Tekelec’s Board of Directors. To that end, Mr. Jean-Yves Courtois has signed a consent to serve as a member of the Tekelec Board, a copy of which is attached as Annex A hereto. We have also attached as Annex B a summary of Mr. Jean-Yves Courtois’ background and qualifications.

If you would like to discuss further, please contact Mr Jean-Yves Courtois directly. He can be reached at +33 6 08 36 81 48 (jyc@orolia.com).

With kind regardsYours sincerelyFor and on behalf of Katelia Capital Investments Ltd

Douglas A. McIntyre

Filed under: Corporate Governance Tagged: ALORO, TKLC

Cramer’s #4 Speculative Tech Pick: ON Semiconductor (ONNN, TKLC, BRCD, CDNS)

247wallst — Thu, 07 May 2009 23:04:43 +0000

Jim Cramer came out with his fourth speculative technology stock pick on CNBC’s MAD MONEY tonight. His #4 pick for the basket is ON Semiconductor Corp. (NASDAQ: ONNN). He said the company did a monster beat of earnings estimates yesterday and gave guidance that was better than expected. It acted cautiously optimistic but Cramer noted two quarters of visibility. He said this stock should not have fallen today, and that was because tech sold off.

The company is getting its balance sheet better and is paying down debt. ONNN offers power, analog, digital signal processing, mixed signal, logic, data management semiconductors…. This closed down 6% at $5.71, but traded up 11% to $6.30 in the first after-hours session. The 52-week trading range is $2.35 to $10.85.

Cramer has been making other picks this week for a basket of speculative tech stocks in the down and out sector. His other picks from this week are as follows:

Monday was Tekelec (TKLC) FULL DETAILS
Tuesday was Brocade (NASDAQ: BRCD) FULL DETAILS
Wednesday was Cadence Design (NASDAQ: CDNS) FULL DETAILS

Stay tuned tomorrow as we will get the last pick of this speculative technology stock basket.

JON C. OGG

Posted in Cramer, Semiconductor, Technology Companies, Turnarounds, Value Investing Tagged: BRCD, CDNS, ONNN, TKLC

Cramer Calls Cadence Design His #3 Speculative Tech Stock (CDNS, TKLC, BRCD)

247wallst — Wed, 06 May 2009 22:39:38 +0000

Jim Cramer continued adding to his basket of speculative technology stocks on tonight’s MAD MONEY on CNBC. His #3 speculative stock pick was Cadence Design Systems Inc. (NASDAQ: CDNS), a maker of electronic design automation for hardware and software tools to help semiconductor companies.

Cadence is part of his making things better and smaller play for consumer electronics. This is a $5.00 stock that Cramer said is a classic example of a screw-up. It has bounced hard and can run more. The company got its management fired after a delisting notice. It also changed its revenue recognition.

But things looked much worse than they really were. Cramer thinks the estimates are way too low after it beat estimates. He thinks this company will now have apples-to-apples comparisons. His “and there is more” is that it has $2.20 in cash and the chairman has been doing some buying of the stock.

Cramer’s first speculative tech stock this week on Monday was Tekelec (NASDAQ: TKLC), and here are the full details of that pick.
Brocade Communications Systems, Inc. (NASDAQ: BRCD) was his second speculative tech stock from Tuesday, and those full details are here.

Shares of Cadence closed up 1.2% at $5.60 in regular trading, and shares have just popped up 15% to $6.43 in the after-hours session after the post-Cramer tout. This stock’s 52-week trading range is $2.42 to $11.73.

Jon C. Ogg

Posted in Cramer, Technology Companies, Turnarounds, Value Investing Tagged: BRCD, CDNS, TKLC

Cramer Calls Brocade His #2 Speculative Tech Stock (BRCD, IBM, TKLC)

247wallst — Tue, 05 May 2009 23:18:52 +0000

Jim Cramer came back on CNBC’s MAD MONEY with a “Part 2″ of his basket of 5 speculative technology stocks for investors. The second pick named Tuesday was Brocade Communications Systems, Inc. (NASDAQ: BRCD), what he called a $5.00 “tech has-been.”

Cramer said he thinks it could come back strong. Its Foundry deal hurt the stock, but it just expanded its pact with IBM (NYSE: IBM) With $1.2 billion in debt, Cramer said it has a bad balance sheet and that is why it is so speculative.

He also noted that it is about to step into the blade-switch arena that is dominated by Cisco Systems and it only needs a tiny bit of market share to be a huge winner there. He would rather see you buy it the day after Cisco’s earnings to avoid that fall-out there.

Keep in mind that this one has traded in a range of $2.05 to $9.09 over the last year and it closed down 2.3% at $5.88 today. Its after-hours post-Cramer tout price looks to be up about 8% at $6.37.

His first speculative tech stock from Monday was Tekelec (NASDAQ: TKLC), and here are the full details of that pick.

JON C. OGG

Posted in Cramer, Technology Companies, Trading Alert, Value Investing Tagged: BRCD, IBM, TKLC

Cramer’s Speculative Tech Pick 1: Tekelec (TKLC)

247wallst — Mon, 04 May 2009 22:54:19 +0000

Tekelec (NASDAQ: TKLC) just took a “PR Boost” after Jim Cramer named this stock as a speculative technology stock winner for this week on CNBC’s MAD MONEY. He said this was his first of five picks in speculative technology picks that he thinks can continue running higher with the stock market.

Cramer noted that this equipment and services provider is a play on wireless carriers to profit from text messaging and telephone number portability. He also likes the India play in the stock, which may be reason enough to go after the stock. Cramer also noted how analyst coverage is very thin and that that the analysts do not even pretend to care about or notice the stock.

Interestingly enough, this stock is actually far less volatile than other speculative stocks he has picked before. Despite s 2% rise to $15.81 and despite a 8% gain in after-hours trading to $17.15, this company’s 52-week trading range is ‘only’ $10.01 to $17.73. At the close and before the Cramer-tout, Tekelec’s market cap was right at $1.05 billion.

If Cramer is out touting speculative stocks all over again in a ‘five for the week series’ then either one of two things have happened: 1) the mood of the market is so strong after being so negative that we are totally out of the woods of caution; or 2) we have come so far up so fast that you need to only look back into quality stocks if you want to stay in. Which policy you choose is entirely up to you.

JON C. OGG

Posted in Cramer, Technology Companies, Telecom, Trading Alert Tagged: TKLC

Top 10 Pre-Market Analyst Calls (AIG, BARE, CWST, DNA, GILD, MHS, SLAB, TKLC, UBS, WCA)

247wallst — Thu, 19 Jun 2008 06:11:02 +0000

These are ten of the analyst calls we are seeing early this Thursday morning in early bird pre-market trading hours:

American International Group (NYSE: AIG) raised to Buy at Citigroup.
Bare Escentuals (NASDAQ: BARE) Raised to Buy from Hold at Citigroup.
Casella Waste (NASDAQ: CWST) raised to Overweight at JPMorgan.
Genentech (NYSE: DNA) Started as Buy at Deutsche Bank.
Gilead (NASDAQ: GILD) Started as Buy at Deutsche Bank.
Medco Health Solutions (NYSE: MHS) Cut to Neutral from Buy at UBS.
Silicon Laboratories (NASDAQ: SLAB) Raised to Outperform from Market Perform at FBR.
Tekelec (NASDAQ: TKLC) Cut to Equal-weight from Overweight at Lehman Brothers.
UBS AG (NYSE: UBS) cut to Neutral at Credit Suisse.
WCA Waste (NYSE: WCA) Cut To Underweight From Neutral By JP Morgan.

Jon C. Ogg
June 19, 2008