Posts Tagged ‘buzz stocks’

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Zagg Inc. (ZAGG) zooms higher on bottom line

Tuesday, August 16th, 2011

Zagg Inc. (Nasdaq: ZAGG) shares climbed 6.6% to $15.70, on Monday after the maker of cellphones and accessories related to Apple Inc. (Nasdaq: AAPL) products hiked its 2011 revenue forecast and came out with second-quarter figures. Volume for the stock surpassed 5.4 million shares, compared to a daily average of 2.2 million.

A news release out August 15, declared that revenue for the second quarter was $38.8 million, a 158% increase from $15.1 million in the second quarter of 2010 and a 44% sequential increase as compared to $27.0 million in the first quarter of 2011. These results include nine days of iFrogz revenue of $2.4 million, having been acquired during the quarter on June 21, 2011. Revenue by channel was 72% indirect and 22% from the ZAGG.com website.

Gross profit for the second quarter was $17.8 million, versus $7.5 million in Q2 2010 and $13.6 million from the previous quarter, which translates into gross margin for the quarter of 46%, versus 50% for Q2 2010 and 51% in the previous quarter. Gross margin for the quarter was in line with ZAGG’s guidance, but down year over year due to the required write up of iFrogz inventory, a product mix shift for iFrogz, additional shipping charges to meet higher than expected demand for iFrogz product, and an increase in obsolescence charges for ZAGG inventory.

The same release quoted CEO Robert Pedersen as saying, “ZAGG’s operational performance in the quarter was extremely strong. During the second quarter we saw revenue growth due to our expanding retail channel, and the increase in product we are putting into the channel. The market for smartphones and tablets continues to rapidly expand, and we are well positioned as a leading accessories provider, especially since our acquisition of iFrogz, which broadens our product offering, expands our distribution to new channels and brings the youth demographic into our mix.

“We are excited about the roll out of iFrogz product on our website, as well as the expansion of our tablet keyboard offerings with the ZAGGfolio™ and the new ZAGGkeys™ SOLO™. We feel that these additions will have an immediate impact to our online sales.”

The Company is raising its 2011 guidance for revenues to $160 million – $170 million, from a previous range of $105 million – $110 million, to reflect an improved outlook for the sale of its products as a result of expanding distribution and increased product offerings, and the acquisition of iFrogz.

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Motorola Mobility Holdings Inc. (MMI) gets Googled, leaps in price

Tuesday, August 16th, 2011

Motorola Mobility Holdings Inc. (NYSE: MMI) shares remain skyward 55% today over Friday’s close after Google Inc. (Nasdaq: GOOG) said it would buy the cellphone business for about $12.5 billion, or $40 a share. Monday after the deal was announced, volume for Motorola ballooned to 54.4 million shares from a daily average of 4.3 million.

A release published August 15 noted that the acquisition of Motorola Mobility, a dedicated Android partner, will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business.

Larry Page, CEO of Google, was quoted in the release as saying, “Motorola Mobility’s total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers.”

In the same release, Sanjay Jha, CEO of Motorola Mobility, said, “This transaction offers significant value for Motorola Mobility’s stockholders and provides compelling new opportunities for our employees, customers, and partners around the world.

“We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses.”

Motorola Mobility Holdings, Inc. fuses innovative technology with human insights to create experiences that simplify, connect and enrich people’s lives. Its portfolio includes converged mobile devices such as smartphones and tablets; wireless accessories; end-to-end video and data delivery; and management solutions, including set-tops and data-access devices

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A123 Systems Inc. (AONE) benefits from new GM supply deal

Thursday, August 11th, 2011

A123 Systems Inc. (Nasdaq: AONE) shares rallied 46.1% to $4.63 Thursday after General Motors Corp. (NYSE: GM) said it signed a supply contract to the battery maker. Volume for A123 was 12.8 million shares, compared to a daily average of 2.7 million.

A story in the Wall Street Journal on August 11 stated that the agreement builds on existing contracts between GM and A123, which focused on lithium-ion battery technology at both the cell and system level. The new contract includes advanced nanophosphate cells and fully integrated electronic components. The specific vehicles and brands will be announced at a later date, according to GM.

Jason Forcier, Vice President of A123’s automotive solutions group, told Dow Jones Newswires the company would get a “substantial revenue stream” out of the program. Yearly unit volume is expected to start in the thousands and could possibly reach the tens of thousands.

Forcier said the contract would cover a vehicle platform that would be launched in the U.S. and abroad, saying demand for fuel-efficient vehicles would continue to increase due to higher fuel costs and increased government standards.

A123 Systems, Inc. develops and manufactures advanced lithium ion batteries and battery systems for the transportation, electric grid services and commercial markets. Headquartered in Massachusetts and founded in 2001, A123 Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology

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Cisco Systems Inc. (CSCO) balloons on quarterly figures

Thursday, August 11th, 2011

Cisco Systems Inc. (Nasdaq: CSCO) shares rose 17.4% to $16.12 Thursday, on analyst upgrades after the networking-equipment maker reported better-than-expected quarter results late Wednesday. Volume for the stock amounted to 119.9 million shares, compared to a daily average of 75.1 million.

A news release put out August 10 stated that Cisco reported fourth quarter net sales of $11.2 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.2 billion or $0.22 per share, and non-GAAP net income of $2.2 billion or $0.40 per share.

Cisco CEO John Chambers was quoted in the same release as saying, “We’ve made significant progress on our comprehensive action plan to position ourselves for our next stage of growth and profitability, while delivering solid financial results in Q4. As we start our next fiscal year, you will see a very focused, agile, lean and aggressive company that is laser focused on helping our customers use intelligent networks to transform their businesses.”

GAAP net income for the fourth quarter and fiscal year 2011 included pretax charges of $772 million and $923 million, respectively, related to restructuring and other charges.

The San Jose-based Cisco is the worldwide leader in networking that transforms how people connect, communicate and collaborate.

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Cree Inc. (CREE) stock leaps on hearty Q4 earnings

Wednesday, August 10th, 2011

Cree Inc. (Nasdaq: CREE) shares rose 19.2% to $35.15 after the maker of fixtures that use light-emitting diodes late Tuesday reported fourth-quarter earnings that beat expectations. Volume for the stock Wednesday was 15.3 million shares, trumping a daily average of 3.7 million.

A news release Tuesday revealed that Cree announced revenue of $243.0 million for its fourth quarter of fiscal 2011, ended June 26, 2011. This represents an 8% decrease compared to revenue of $264.6 million reported for the fourth fiscal quarter last year and an 11% increase compared to the third quarter of fiscal 2011.

GAAP net income for the fourth quarter of $19.8 million, or $0.18 per diluted share, decreased 63% year-over-year compared to GAAP net income of $52.8 million, or $0.48 per diluted share, for the fourth quarter of fiscal 2010.

Cree CEO Chuck Swoboda was quoted in the same article as saying “Q4 results were in-line with our targets and we are encouraged by the 11% sequential growth in quarterly revenue. Over the last fiscal year, we continued to have success leading the LED lighting revolution and growing our LED lighting business, while at the same time managing through a challenging business cycle for our LED component and LED chip product lines. As we look ahead to Q1, demand has improved from earlier in the calendar year and we are well positioned to continue to lead the LED lighting revolution.”

Based in Durham, North Carolina, Cree claims to be leading the LED lighting revolution, and also boasts it is making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, environmentally friendly LED lighting.

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