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Friday, 01 August 2014, 23:22 GMT
Analysts still cool on GoPro's valuation following earnings
  • Though GoPro (GPRO -14.6%) beat Q2 estimates thanks to strong accessory sales and a mix shift towards the costlier HERO3+ Black camera, HERO shipments missed estimates, notes Citi's Jeremy David (Hold). He thinks the shortfall confirms his "belief that the growth rate of GoPro is likely to continue to decelerate."
  • Nonetheless, David still thinks "the anticipated launch of [a] new GoPro model in Q4 is likely to keep the shares trading at a HEROic valuation – 45x our 2015 $0.93 PF EPS estimate at the current share price – through year-end."
  • Raymond James' Tavis McCourt (Market Perform) is more positive: He calls Q2 earnings quality "exceptionally high," and notes guidance for ~35% Q3 revenue growth is slightly better than expected. But he's not keen on a valuation of 49x 2015E EPS.
  • For his part, CEO Nicholas Woodman is talking up GoPro's plans to create a platform that will allow camera footage to be quickly uploaded/stored in the cloud, and more easily converted into short YouTube clips. He adds content deals for Apple TV and Roku set-tops are a natural fit.
  • Q2 results, details
Analysts still cool on GoPro's valuation following earnings 1 comment!


Friday, 01 August 2014, 22:55 GMT
Microchip closes higher on FQ1 beat, guidance; Atmel also gains
  • In addition to beating FQ1 estimates, Microchip (MCHP +2.3%) guided for FQ2 revenue of $560M-$575.9M and EPS of $0.70-$0.74, largely above a consensus of $547.6M and $0.71.
  • Microchip, often viewed as a bellwether for the chip industry, says it's "seeing a seasonally normal business environment with strengths in many of our end markets like industrial, automotive, housing, consumer electronics and personal computing."
  • Microcontroller revenue rose 5.3% Q/Q and 14.5% Y/Y, with all 3 of the company's microcontroller lines - 8-bit, 16-bit, and 32-bit - posting Q/Q growth. Analog revenue (not counting the Supertex deal) rose 2.6% Q/Q and 6.8% Y/Y. Counting Supertex, analog was 24% of total revenue.
  • Gross margin +50 bps Q/Q and +180 bps Y/Y to 59.8%. Microchip expects an FQ2 GM of 59.2%-59.6%.
  • Microcontroller rival Atmel (ATML +2.3%) has followed Microchip higher. Atmel's Q2 report is due on Aug. 6.
  • FQ1 results, PR
Microchip closes higher on FQ1 beat, guidance; Atmel also gains Post your comment!


Friday, 01 August 2014, 22:28 GMT
Berkshire Hathaway reports Q2 results
  • Berkshire Hathaway (BRK.A, BRK.B): Q2 operating earnings per Class A equivalent share of $2,634 (+10% Y/Y) beats by $149.
  • Net earnings per Class A equivalent share of $3,889 (+41% Y/Y).
  • Revenue of $49.76B (+11% Y/Y).
  • Book value per Class A equivalent share of $142,483 (+3% Q/Q).
  • Press Release, 10-Q Filing
Berkshire Hathaway reports Q2 results 13 comments!


Friday, 01 August 2014, 22:11 GMT
Microsoft sues Samsung over Android royalties
  • Microsoft (NASDAQ:MSFT) has sued Samsung (OTC:SSNLF) for alleged breach of contract over unpaid Android royalty payments related to the companies' 2011 licensing deal.
  • Microsoft suggests Samsung stopped paying per-device royalties in late 2013 due to the Nokia deal, with Samsung arguing the deal nullifies the 2011 pact. Microsoft wants a ruling on Samsung's claim, and is also seeking unpaid interest.
  • Likely at issue: Samsung and Nokia have a patent cross-licensing deal in place for each others' patents, one that was extended for 5 years last November. Though the deal involves payments from Samsung to Nokia, Nokia's phone unit (now a part of Microsoft) has made use of Samsung's IP through it. That opens the door to Samsung arguing a new/separate cross-licensing deal with Microsoft is needed.
  • The financial implications of the legal spat could be big: Though struggling a bit lately, Samsung still had a 25.2% Q2 smartphone unit share (per IDC).
  • Surging Android royalties led Microsoft's "Windows Phone" revenue to rise $1.2B in FY13 (ended June '13). With Samsung apparently halting payments midway, "Windows Phone" licensing revenue grew by $822M in FY14 to $2.54B. Nokia payments accounted for $382M of the total.
Microsoft sues Samsung over Android royalties 7 comments!


Friday, 01 August 2014, 22:00 GMT
On the hour
  • S&P -0.33%.
  • 10-yr +0.6%.
  • Euro +0.29% vs. dollar.
  • Crude -0.56% to $97.63.
  • Gold +0.94% to $1,294.80.
On the hour Post your comment!


Friday, 01 August 2014, 21:44 GMT
Eaton Vance Limited Duration Income Fund declares $0.1017 dividend
  • Eaton Vance Management (NYSEMKT:EVV) declares $0.1017/share monthly dividend, in line with previous.
  • Forward yield 8.06%
  • Payable Aug. 18; for shareholders of record Aug. 11; ex-div Aug. 7.
Eaton Vance Limited Duration Income Fund declares $0.1017 dividend Post your comment!


Friday, 01 August 2014, 21:40 GMT
After Hour Gainers / Losers
After Hour Gainers / Losers 3 comments!

Friday, 01 August 2014, 21:32 GMT
Neenah Paper declares $0.27 dividend
  • Neenah Paper (NYSE:NP) declares $0.27/share quarterly dividend, in line with previous.
  • Forward yield 2.17%
  • Payable Sept. 3; for shareholders of record Aug. 15; ex-div Aug. 13.
Neenah Paper declares $0.27 dividend Post your comment!


Friday, 01 August 2014, 21:29 GMT
Rockwell Collins declares $0.30 dividend
  • Rockwell Collins (NYSE:COL) declares $0.30/share quarterly dividend, in line with previous.
  • Forward yield 1.63%
  • Payable Sept. 2; for shareholders of record Aug. 11; ex-div Aug. 7.
Rockwell Collins declares $0.30 dividend Post your comment!


Friday, 01 August 2014, 21:28 GMT
L.B. Foster Company declares $0.03 dividend
  • L.B. Foster Company (NASDAQ:FSTR) declares $0.03/share quarterly dividend, in line with previous.
  • Forward yield 0.26%
  • Payable Sept. 19; for shareholders of record Sept. 5; ex-div Sept. 3.
L.B. Foster Company declares $0.03 dividend Post your comment!


Friday, 01 August 2014, 21:26 GMT
Eaton Vance Senior Income Trust declares $0.033 dividend
  • Eaton Vance Management (NYSE:EVF) declares $0.033/share monthly dividend, in line with previous.
  • Forward yield of 5.88%
  • Payable Aug. 18; for shareholders of record Aug. 11; ex-div Aug. 7.
Eaton Vance Senior Income Trust declares $0.033 dividend Post your comment!


Friday, 01 August 2014, 21:25 GMT
Apple's e-book deal cleared; Beats Music chief to run iTunes Radio
  • Though she previously expressed concerns about the deal, Judge Denise Cote has approved Apple's (AAPL +0.6%) $450M e-book price-fixing settlement.
  • The deal calls on Apple to pay $400M to consumers and $50M to lawyers if an appeals court upholds Cote's ruling on the case, and $50M and $20M if it overturns them. In today's ruling, Cote observes states and consumers "strongly believe" her findings will be upheld.
  • If upheld, the payout will still only amount to a moderate financial hit for Apple, which had FQ3 net income of $7.7B.
  • Separately, with Beats now officially a part of Apple's empire, the WSJ is reporting Beats Music chief Ian Rogers will also run iTunes Radio going forward.
  • The paper adds Rogers will be in charge of both services to "create cohesion in Apple’s streaming-music options." One current point of non-cohesion: Beats Music is available on iOS, Android, and Windows Phone, while iTunes Radio's mobile support is limited to iOS.
  • Two months before the Beats deal was announced, Billboard reported Apple was mulling an Android iTunes app, and holding talks about launching a Spotify-like music streaming service; Beats Music has eliminated the need for the latter.
  • Earlier: Apple officially closes Beats deal
Apple's e-book deal cleared; Beats Music chief to run iTunes Radio 6 comments!


Friday, 01 August 2014, 21:24 GMT
Delaware Investments Dividend And Income declares $0.0525 dividend
  • Delaware Investments Dividend&Income Fund (NYSE:DDF) declares $0.0525/share monthly dividend, in line with previous.
  • Forward yield 6.35%
  • Payable Aug. 29; for shareholders of record Aug. 15; ex-div Aug. 13.
Delaware Investments Dividend And Income declares $0.0525 dividend Post your comment!


Friday, 01 August 2014, 21:21 GMT
Delaware Enhanced Glbl. Div. & Inc. Fund declares $0.075 dividend
  • Delaware Enhanced Global Dividend&Income Fund (NYSE:DEX) declares $0.075/share monthly dividend, in line with previous.
  • Forward yield 7.27%
  • Payable Aug. 29; for shareholders of record Aug. 15; ex-div Aug. 13.
Delaware Enhanced Glbl. Div. & Inc. Fund declares $0.075 dividend Post your comment!


Friday, 01 August 2014, 21:15 GMT
Star Gas EPS of -$0.17
  • Star Gas (NYSE:SGU): FQ3 EPS of -$0.17
  • Revenue of $326.5M (+24.4% Y/Y)
  • Press Release
Star Gas EPS of -$0.17 Post your comment!


Friday, 01 August 2014, 21:04 GMT
Waterstone Financial EPS of $0.11
  • Waterstone Financial (NASDAQ:WSBF): Q2 EPS of $0.11
  • Revenue of $33.8M (+26.4% Y/Y).
  • Press Release
Waterstone Financial EPS of $0.11 Post your comment!


Friday, 01 August 2014, 21:02 GMT
Ampco-Pittsburgh EPS of $0.11
  • Ampco-Pittsburgh (NYSE:AP): Q2 EPS of $0.11
  • Revenue of $69.94M (flat Y/Y).
  • Press Release
Ampco-Pittsburgh EPS of $0.11 Post your comment!


Friday, 01 August 2014, 21:00 GMT
On the hour
  • S&P -0.33%.
  • 10-yr +0.6%.
  • Euro +0.29% vs. dollar.
  • Crude -0.56% to $97.63.
  • Gold +0.94% to $1,294.80.
On the hour Post your comment!


Friday, 01 August 2014, 20:58 GMT
First Business Financial Services declares $0.21 dividend
  • First Business Financial Services (NASDAQ:FBIZ) declares $0.21/share quarterly dividend, in line with previous.
  • Forward yield 1.93%
  • Payable Aug. 25; for shareholders of record Aug. 11; ex-div Aug. 7.
First Business Financial Services  declares $0.21 dividend Post your comment!


Friday, 01 August 2014, 20:56 GMT
Anworth Mortgage Asset EPS of $0.07
  • Anworth Mortgage Asset (NYSE:ANH): Q2 GAAP EPS of $0.07
  • Revenue of $15.29M (-38.5% Y/Y) misses by $1.78M.
  • Press Release
Anworth Mortgage Asset EPS of $0.07 Post your comment!


Friday, 01 August 2014, 20:47 GMT
Big gains for Ellie Mae on Q2 beat in face of mortgage weakness
  • With U.S. mortgage origination volume now expected to be down 41% this year to $1.1T (a prior forecast was at $1.2T), the Street was quite pleased with Ellie Mae's (ELLI +7%) Q2 beat and healthy full-year guidance: The company expects 2014 revenue of $150M-$153.5M and EPS of $0.98-$1.01 vs. a consensus of $151.1M and $0.99.
  • Q3 guidance is softer: Revenue of $39.5M-$41M and EPS of $0.21-$0.23 vs. a consensus of $41.1M and $0.30.
  • Active users of Ellie's Encompass mortgage origination software platform rose 12% Y/Y in Q2 to 99K, and active SaaS Encompass users rose 29% to 72.1K; those growth rates are down from Q1's 18% and 40%. But revenue per active user rose 3% to $410, a turnaround from Q1's 13% decline.
  • Contracted revenue was 61% of total revenue vs. 70% in Q1 and 49% a year ago. GAAP opex grew 12% Y/Y to $22.1M.
  • Q2 results, PR
Big gains for Ellie Mae on Q2 beat in face of mortgage weakness Post your comment!


Friday, 01 August 2014, 20:40 GMT
STAAR Surgical reaffirms guidance after Q2 results
  • STAAR Surgical Co. (STAA -15.6%) Q2 results: Revenue: $20.0M (+9.9%); Gross Profit: $13.7M (+8.7%); Operating Expenses: $15.1M (+26.9%); Operating Loss: ($1.4M) (-300.3%); Net Loss: ($1.8M) (-743.5%); Loss Per Share: ($0.05) (-600.0%); Quick Assets: $19.2M (-16.5%); CF Ops: ($4.1M) (-999%).
  • 2014 Guidance: Revenue growth: 8 - 10%; ICL revenue growth: 20%; gross margin growth: 300 bps: 72.7%; GAAP earnings > $0.
STAAR Surgical reaffirms guidance after Q2 results Post your comment!


Friday, 01 August 2014, 20:27 GMT
CDI Corp. declares $0.13 dividend
  • CDI Corporation (NYSE:CDI) declares $0.13/share quarterly dividend, in line with previous.
  • Forward yield 3.79%.
  • Payable Aug. 29; for shareholders of record Aug. 15; ex-div Aug. 13.
CDI Corp. declares $0.13 dividend Post your comment!


Friday, 01 August 2014, 20:24 GMT
Greatbatch affirms guidance after Q2 results
  • Greatbatch (GB -3.6%) Q2 results: Sales: $172.1M (+0.5%); Gross Profit: $58.5M (+2.0%); Operating Expenses: $38.9M (-3.2%); Operating Income: $19.5M (+14.0%); Net Income: $12.3M (+25.5%); EPS: $0.48 (+23.1%); Quick Assets: $51.2M (+46.8%).
  • 2014 Guidance: Sales: $685M - 705M; Organic revenue growth: 3 - 6%; non-GAAP EPS: $2.25 - 2.35; GAAP EPS: $1.94 - 1.99.
Greatbatch affirms guidance after Q2 results Post your comment!


Friday, 01 August 2014, 20:24 GMT
Weekly ETF Gainers / Losers
Weekly ETF Gainers / Losers 1 comment!

Friday, 01 August 2014, 20:20 GMT
FCC opposes Sprint/T-Mobile's reported $10B spectrum play
  • "If two of the largest companies are able to bid as one combined entity in the auction, their combined resources may have the effect of suppressing meaningful competition," says the FCC in a blog post. The post outlines a proposal by chairman Tom Wheeler that bars carriers from jointly bidding in next year's huge low-frequency spectrum auctions.
  • The WSJ reported two weeks ago Sprint (S +1.4%) and T-Mobile (TMUS +1.4%), each of whom have a dearth of low-frequency spectrum relative to AT&T and Verizon, plan to form a JV that would raise $10B to jointly bid in the auction. The funds would be obtained through a $45B financing package SoftBank is lining up for a Sprint/T-Mobile merger.
  • "It’s certainly a hint that they are predisposed against a merger," says analyst Craig Moffett about the FCC's stance. Prospective T-Mobile acquirer Iliad (OTC:ILIAF) must be pleased.
FCC opposes Sprint/T-Mobile's reported $10B spectrum play 4 comments!


Friday, 01 August 2014, 20:20 GMT
SL Industries EPS of $1.12
  • SL Industries (NYSEMKT:SLI): Q2 EPS of $1.12
  • Revenue of $56.7M (+13.9% Y/Y)
  • Press Release
SL Industries EPS of $1.12 Post your comment!


Friday, 01 August 2014, 20:00 GMT
At the close
  • Dow -0.43% to 16,492.50. S&P -0.27% to 1,925.40. Nasdaq -0.39% to 4,352.64.
  • Treasurys: 30-year +0.64%. 10-yr +0.58%. 5-yr +0.4%.
  • Commodities: Crude -0.54% to $97.64. Gold +0.89% to $1,294.20.
  • Currencies: Euro +0.25% vs. dollar. Yen -0.19%. Pound +0.39%.
At the close 1 comment!


Friday, 01 August 2014, 19:57 GMT
Synageva affirms guidance after Q2 results
  • Synageva BioPharma (GEVA +1.1%) Q2 results: Total Revenue: $2.3M (-32.3%); Operating Expenses: $52.7M (+105.9%); Operating Loss: ($50.3M) (-126.6%); Net Loss: ($50.2M) (-127.1%); Loss Per Share: ($1.52) (-187.7%); Quick Assets: $534.5M (+30.8%).
  • 2014 Guidance: Net loss: $190M - 205M.
Synageva affirms guidance after Q2 results Post your comment!


Friday, 01 August 2014, 19:52 GMT
Iridium catches post-earnings CRT upgrade
  • CRT Capital has upgraded Iridium (IRDM +0.5%) to Buy in response to the company's Thursday Q2 report. Its target is at $11.
  • The satellite network owner beat revenue estimates (while missing on EPS) on the back of a 31K Q/Q increase in billable subscribers to 705K. Commercial service revenue grew 6% Y/Y to $60.2M, government service revenue 11% to $16M, equipment revenue 3% to $20.3M, and engineering/support revenue 72% to $6M. Strong M2M data service growth boosted both commercial and government sales.
  • Iridium still expects 2%-4% full-year service revenue growth, and its forecast for an 8%-12% service revenue CAGR from 2014-2018 is also unchanged.
Iridium catches post-earnings CRT upgrade Post your comment!



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