Marvell (MRVL) this afternoon told investors on a post-earnings conference call that it expects to report revenue for its fiscal fourth quarter ending in January of $690 million to $730 million, short of the Street consensus of $736.7 million. That is down 14%-18% versus a year earlier, and off 8%-13% sequentially. The company expects non-GAAP profits for the quarter of 14-20 cents a share. The...
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OmniVision (OVTI) this afternoon warned that results for its fiscal third quarter ending in January will be much lower than the Street had been anticipating. For FY Q2, the image sensor company posted revenue of $163.9 million and non-GAAP profits of 19 cents a share, close to the Street consensus of $166.4 million and 18 cents. But the guidance, oh my. OmniVision now sees revenue for the Janua...
Sigma Designs (SIGM) this afternoon reported results for its fiscal third quarter ended November 1 in line with its recently reduced guidance. For the quarter, the company reported revenue of $46.8 million and non-GAAP profits of 27 cents a share. Sigma had projected revenue of $46.5 million, down 20% from Q2. The Street consensus was $46.4 million and 29 cents. The company did not provide any ...
The recession officially began this past January, NBER tells us. With that out of the way, we can now focus on the burning question: When will it end?There are many clues for pondering the timing of the business cycle. Calling the turning point in advance is never easy, and in fact it's quite a bit harder these days. The magnitude of the economic and financial ills is to blame. In a perfect sto...
From the WSJ:Grim economic data Monday showed more pain for U.S. manufacturing and construction.The Institute for Supply Management, a key measure of U.S. manufacturing activity, said its overall index for last month moved to 36.2 from 38.9 in October and 43.5 in September. November's reading was the weakest since May 1982.Cliff Waldman, an economist for the Manufacturers Alliance/MAPI trade gr...
Multinational corporations, for several quarters, saw their earnings grow as a result of the weakness of the U.S. dollar. Since the dollar reversed course and began to strengthen in the mid-summer, this advantage has eroded. After reporting third-quarter earnings, the guidance issued by many multinational companies was based on certain assumptions of the dollar’s strength. Some of those c...
Options Update: Mosaic volatility at 130; shares down on soft phosphate conditions
Tue, Dec 2, 11:26 AM ET
Filed under: Palm Inc (PALM), Genentech Inc (DNA), OptionsMosaic (NYSE: MOS), a producer of crop nutrients, is recently down 81c to $24.59. MOS announced Q2 2009 results will be severely impacted by soft global demand for fertilizers. MOS December and January option implied volatility of 131 is above its 26-week average of 88 according to Track Data, suggesting larger price movements. Palm (NAS...
Dec. 1 (Bloomberg) — Treasuries rose, pushing yields to record lows, as Federal Reserve Chairman Ben S. Bernanke said the central bank may purchase Treasuries and target long-term interest rates to combat the deepening recession. …and the monetizing of debt begins. I’ve talked extensively in several issues of Bourbon and Bayonets about the coming turmoil in long dates U.S. tre...
If you were counting on gold to boost your returns this year, chances are you’ve been cruelly disappointed. In fact, when it comes to gold-related investments, virtually every category is down, making this one of the worst years in history for gold investors. So, why is it that the largest of the large futures traders have some of the lowest net short positions in years? And what does thi...
This week’s economic reports will be highlighted by Friday’s unemployment report, which analysts expect will illustrate the 11th straight month of declining job ranks in the U.S. economy. Non-farm payroll employment fell by 240,000 in October, and the unemployment rate jumped to 6.5%, up from 6.1% the month before, the Bureau of Labor Statistics reported in early November. October&r...