Vital Images Inc. (VTAL) soars on hookup with Japanese giant

Posted on Thursday, April 28th, 2011

Vital Images Inc. (Nasdaq: VTAL) shares rallied 31.5% to $18.65 in morning trading Thursday, after Toshiba Medical Systems Co. said late Wednesday that it would acquire the provider of image-visualization software to the medical industry for $273 million. Volume for the stock was 3.7 million shares, overwhelming a daily average of 52,000.

Under the terms of the agreement, which has been unanimously approved by each of Vital Images’ and TMSC’s boards of directors, Vital Images’ shareholders will receive $18.75 in cash for each outstanding share of Vital Images common stock they own. This represents a 39% premium over the volume-weighted average Vital Images share price for the past 30 days.

Toshiba Medical Systems Co. CEO Satoshi Tsunakawa commented, “After a decade-long successful partnership spanning more than 50 countries, TMSC is taking the partnership to the next level. We have enormous respect for Vital Images’ products, pipeline and people, and look forward to working with their highly skilled team to enhance clinical value for patients throughout the world.”

Chief Executive Officer of Vital Images, Michael Carrel also commented on the developments, “TMSC has been our largest customer for a decade, as well as a strategic development partner. We will combine forces to enhance the multi-modality platform we have been marketing to hospitals in the U.S. and overseas. This transaction means we can now accelerate our global presence with the strength and backing of TMSC.”

Minneapolis-based Vital Images, Inc. is a leading provider of advanced visualization and analysis software for physicians and healthcare specialists.

Tags: , , , ,
Posted in Health Care Stocks, Technology Stocks by Glenn | No Comments »


Rockwood Holdings Inc. (ROC) shares climb on Q1 results

Posted on Wednesday, April 27th, 2011

Rockwood Holdings Inc. (NYSE: ROC) shares advanced 10% to $55.02 Wednesday, after the maker of specialty chemicals reported first-quarter results that topped analysts’ estimates. Volume for the stock topped 2.3 million shares by late afternoon.

Rockwood reported earnings per share from continuing operations of $0.80 for the first quarter of 2011 as compared to $0.42 for the same period in the prior year. The Company’s adjusted earnings per share increased to $0.88 in the first quarter of 2011 from $0.41 for the same period in the prior year.

Likewise, net sales were $914.0 million for the first quarter of 2011, up 17.4% compared to $778.4 million for the same period in the prior year.

According to the Company’s Chief Executive Officer, Seifi Ghasemi, “Rockwood’s exceptionally strong first quarter profits resulted from organic sales growth in all segments, as well as price increases that offset raw material and other cost increases. We were also able to improve our product mix, primarily in the specialty titanium dioxide business.”

“In addition,” Ghasemi continued, “our decision to repay a portion of our term debt and refinance the balance resulted in significantly lower interest expense, which further contributed to the significant increase in as adjusted earnings per share to $0.88 compared to the first quarter a year ago.”

Tags: , , ,
Posted in Industrial Stocks by Glenn | No Comments »


Silicon Image Inc. (SIMG) shares jump on Q2 revenue report

Posted on Wednesday, April 27th, 2011

Silicon Image Inc. (Nasdaq: SIMG) shares climbed 19.1% to $9.00 Wednesday, a day after the designer of television-transmission chips forecast second-quarter revenue above analysts’ forecasts. Volume for the stock was 3.8 million shares, twice its normal full-day average.

The Sunnyvale, California-based company reported revenue for the first quarter of 2011 was $49.0 million, compared to $52.0 million for the fourth quarter of 2010 and $34.3 million for the first quarter of 2010.
GAAP net loss for the first quarter of 2011 was $0.8 million or $0.01 per share, compared to net income of $4.2 million, or $0.05 per diluted share, for the fourth quarter of 2010 and a net loss of $7.2 million, or $0.10 per share, for the first quarter of 2010.

For the second quarter, Silicon projected revenues of $51-53 million, with gross margin seen as being about 56%, while GAAP operating expenses were pegged at approximately $28 million.

Silicon Image Cheif Executive Officer Camillo Martino noted that the company’s performance “was driven by CE product sales and an increasingly successful mobile product portfolio, as mobile device manufacturers are integrating MHL-based products into their smart phones and tablets.

“We pursued our long-term strategic growth initiatives,” Martino went on, “as evidenced by the acquisition of home theater solutions from Anchor Bay Technologies and the definitive agreement to acquire wireless technology company SiBEAM, and we will continue to drive new product development for both wireless and wired HD connectivity solutions.”

Silicon Image is a leading provider of advanced, interoperable connectivity solutions that enable the reliable distribution and presentation of high-definition (HD) content for consumer electronics, mobile, and PC markets.

Tags: , , , ,
Posted in Technology Stocks by Glenn | 1 Comment »


American Apparel Inc. (APP) back from the brink, shares soar on cash influx

Posted on Monday, April 25th, 2011

American Apparel Inc. (AMEX: APP) shares rose nearly 21.2% at $1.50 Monday, after the clothing retailer received a cash infusion to keep the clothing retailer out of bankruptcy. Volume for the stock was nearly 3.5 million shares, dwarfing a daily average of 780,000.

The Los Angeles Times reported Friday that Canadian investors would invest more than $40 million, to help the trendy Los Angeles clothier — and its iconoclastic chief executive, Dov Charney — stave off a potential bankruptcy filing. After an $86-million loss last year and projections of another operating loss this year, the company has repeatedly warned investors about its ability to continue as a going concern.

“I don’t think the company necessarily needed to be saved,” Charney said. “There were a lot of options open to us. But this is a great investment.”

The investment group is headed by Michael Serruya, a prominent Canadian financier. “Our investment in American Apparel is as much a vote of confidence in Dov as it is to American Apparel,” Serruya was quoted in the Times piece.

American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California. As of December 31, 2010, American Apparel employed approximately 11,300 people and operated 273 retail stores in 20 countries.

Tags: , , ,
Posted in Consumer Discretionary Stocks by Glenn | No Comments »


Polycom Inc. (PLCM) climbs on quarterly financial report

Posted on Monday, April 25th, 2011

Polycom Inc. (Nasdaq: PLCM) shares climbed 13% Monday to $58.66, after the supplier of video-conference systems late Thursday reported first-quarter revenue that topped estimates.

The Pleasanton, California-based company traded in volume of 2.4 million shares, almost twice their normal daily average. Thursday, it was reported that first-quarter 2011 consolidated net revenues were a record $344 million, compared to $276 million for the first quarter of 2010.

GAAP net income for the first quarter of 2011 was $34 million, or 38 cents per diluted share, compared to $5 million, or six cents per diluted share, for the same period last year.

Polycom Chief Executive Officer Andrew Miller commented, “Record results for the first quarter were driven by broad-based customer demand for Polycom’s leading UC solutions across all major geographies.”

Miller continued, “We are particularly pleased with the traction Polycom’s UC strategy is gaining within our partner and customer communities, as well as the outstanding results we continue to achieve in emerging markets such as China and India.”

Polycom, Inc.is a global leader in unified communications solutions with industry-leading telepresence, video, voice and infrastructure solutions built on open standards.

Tags: , , , ,
Posted in Technology Stocks by Glenn | No Comments »


« Older Entries
Newer Entries »