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Industrial Gold 05-27-2011
Friday, May 27, 2011 - 5:29pm | 829Cusick's Corner The market pulled back into the afternoon but never jeopardized any critical levels. Commodities bounced back today, especially as the Buck continued to pull back and the market was looking to get into some safety over the long weekend. Another positive point is that Copper,...
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Data Mixed 05-27-2011
Friday, May 27, 2011 - 2:39pm | 942Cusick's Corner This is what I expected going into this long weekend -- a listless consolidated trade. I was not surprised the market was mute when the housing data came out. The market's reaction was one that could be expected since the Income and Spending numbers came in line which was huge. I...
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Pixelworks Announces Exercise of Over-Allotment Option for Common Stock
Friday, May 27, 2011 - 12:15pm | 148Pixelworks (NASDAQ: PXLW) today announced that the underwriter in its recently completed public offering of common stock has exercised in full its over-allotment option and purchased 547,500 shares of common stock. With the over-allotment shares, a total of 4,197,500 shares of common stock were...
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Options Brief: Maxim Integrated Products
Friday, May 27, 2011 - 10:54am | 86Shares of Maxim Integrated Products, Inc. (NASDAQ: MXIM) are higher on the session by 0.97%, trading at $27.17. Overall put volume is now running at 6.04x the daily average, with 8% of all puts traded being purchases on the offer. 2,517 contracts have traded on the session so far. Maxim...
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Options Brief: Marvell Technology Group Ltd.
Friday, May 27, 2011 - 10:25am | 105Shares of Marvell Technology Group Ltd. (NASDAQ: MRVL) are higher on the session by 10.44%, trading at $16.08. Overall call volume is now running at 2.03x the daily average, with 40% of all calls traded being purchases on the offer. 48,760 contracts have traded on the session so far. Marvell...
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Marvell Technology Jumping 10% On Strong Outlook
Friday, May 27, 2011 - 9:40am | 175Marvell Technology Group Ltd. (NASDAQ: MRVL) shares are jumping this morning, gaining more than 10% after the semiconductor company offered a rosy outlook for the second quarter. The company reported earnings of 22 cents per share on $802 million in revenues. Wall Street had been expecting...
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Morgan Keegan Maintains Outperform on Marvell Technology
Friday, May 27, 2011 - 8:56am | 144Morgan Keegan is out with its report today on Marvell Technology (NASDAQ: MRVL), maintaining Outperform. In a note to clients, Morgan Keegan writes, "Overall we very pleased with the company's guidance as we are convinced that MRVL has the product set and design wins to grow through any issues at...
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J.P. Morgan Raises PT and Estimates On OmniVision
Friday, May 27, 2011 - 8:46am | 81According to a recent report, J.P. Morgan has raised the price target on OmniVision Technologies (NASDAQ: OVTI) from $39.00 to $43.00 and increased the EPS estimates from $2.47 to $2.51. These positive changes came after OVTI issued guidance that brackets revenue and earnings expectations. In the...
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Wedbush Reports on OmniVision Tech
Friday, May 27, 2011 - 8:26am | 177Wedbush commented on OmniVision Tech (NASDAQ: OVTI) in a report released today. In the report, Wedbush was positive in its assessment of the company. Wedbush writes, " We recommend investors be opportunistic on any weakness in shares of OmniVision (OVTI) today and we recommend they build their...
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Marvell Technology's F1Q12 Results Were "At the Low End of Guidance," Deutsche Bank Reports
Friday, May 27, 2011 - 8:25am | 113Marvell Technology Group's (NASDAQ: MRVL) F1Q12 results were “at the low-end of guidance but we believe the focus will shift to the solid forward guidance,” Deutsche Bank reports. “MRVL appears poised to benefit from investments in TD-SCDMA and SSD controllers as those markets see accelerating...
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Benzinga's Top Pre-Market NASDAQ Losers
Friday, May 27, 2011 - 8:23am | 161Blue Coat Systems Inc (NASDAQ: BCSI) dipped 9.21% to $20.30 in the pre-market session. BCSI reported a 62% drop in its fiscal fourth-quarter earnings and issued a disappointing forecast. OmniVision Technologies Inc (NASDAQ: OVTI) dropped 5.41% to $34.45 in the pre-market trading. For the current...
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Goldman Sachs Maintains Neutral Rating on Marvell Technology
Friday, May 27, 2011 - 8:14am | 101Goldman Sachs is maintaining its Neutral rating on shares of Marvell Technology Group Ltd. (NASDAQ: MRVL). “We believe Marvell's solid guidance could partly alleviate the market's concerns about the company's ability to grow outside its core storage and networking franchise,” Goldman Sachs writes...
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Benzinga's Top Pre-Market NASDAQ Gainers
Friday, May 27, 2011 - 8:12am | 160Advanced Analogic Technologies Inc (NASDAQ: AATI) shares advanced 53.33% to $5.98 in the pre-market session. Skyworks Solutions Inc (NASDAQ: SWKS) agreed to buy AATI for about $262.5 million, or $6.13 per share in cash and stock, representing a 57% premium to Advanced Analogic's closing share price...
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Morgan Stanley Maintains OW Rating on Marvell Technology
Friday, May 27, 2011 - 8:09am | 105“As we noted in our earnings preview,” Morgan Stanley reports, “we expected Marvell Technology Group Ltd. (NASDAQ: MRVL) to recognize the negative impacts from the Japanese earthquake in FQ1, so its performance at the low end of guidance is not a surprise.” “That said,” Morgan Stanley continues, “...
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Stifel Nicolaus Downgrades AATI To Hold
Friday, May 27, 2011 - 8:07am | 41Stifel Nicolaus has downgraded Advanced Analogic Technologies (NASDAQ: AATI) from Buy to Hold the company announced its acquisition by Skyworks Solutions (NASDAQ: SWKS) for $6.13/share.