Posts Tagged ‘technology’

NetLogic Microsystems Inc. (NETL) welcomes Broadcom offer, shares spike

Monday, September 12th, 2011

NetLogic Microsystems Inc. (Nasdaq: NETL) shares surged 51.5% to $48.33 Monday after Broadcom Corp. (Nasdaq: BRCM) said it would acquire the semiconductor company for about $3.7 billion. Share volume for NetLogic topped 43.4 million, whereas it would normally buy and sell 1.5 million shares on an average day.

A news release dated Sept. 12 noted that under the agreement, NetLogic Microsystems shareholders will receive $50 per share in a transaction of approximately $3.7 billion, net of cash assumed. The two companies are based respectively out of Santa Clara and Irvine, California.

The acquisition meaningfully extends Broadcom’s infrastructure portfolio with a number of critical new product lines and technologies, including knowledge-based processors, multi-core embedded processors, and digital front-end processors, each of which offers industry-leading performance and capabilities. The combination enables Broadcom to deliver best-in-class, seamlessly-integrated network infrastructure platforms to its customers, reducing both their time-to-market and their development costs.

The release quotes NetLogic CEO Ron Jankov as saying, “This is a strong win for customers, for shareholders and for NetLogic Microsystems employees.

“Our industry-leading product portfolio will benefit from access to Broadcom’s broad set of leading-edge technologies, tools, resources and eco-system, which will enable the combined company to offer a complete and integrated platform for our customers’ next generation designs. Our employees will benefit from the strong cultural alignment with Broadcom, and from joining forces with an equally aggressive and energetic organization with the same relentless focus on engineering excellence and innovation.”

NetLogic Microsystems is a worldwide leader in high-performance intelligent semiconductor solutions that are powering next-generation Internet networks.

Buyout target Caliper Life Sciences Inc. (CALP) leaps

Thursday, September 8th, 2011

Caliper Life Sciences Inc. (Nasdaq: CALP) surged 40.2% to $10.36 a share after PerkinElmer Inc. (NYSE: PKI) said it would buy the maker of genomic-detection technologies for about $600 million, or $10.50 a share, in cash. Volume for the stock topped 26 million shares, where it normally would trade in 403,000 in an average day.

A news release dated September 8 stated that the Hopkinton, MA-based Caliper was being bought by PerkinElmer, Inc., a global leader focused on improving the health and safety of people and the environment.

The combined technology platforms will expand PerkinElmer’s deep portfolio of solutions and services for global customers including:

  • Broader offerings for molecular, cellular, animal and tissue imaging to enable translational medicine research;
  • Addition of a world-leading microfluidics platform for genomics and proteomics applications, for improved detection and screening through low sample use and efficiency;
  • High-value sample preparation technologies for key scientific workflow areas such as Next Generation DNA Sequencing

Caliper CEO Kevin Hrusovsky, noted in the same release, “We are delighted to become part of PerkinElmer. For 10 years, Caliper has partnered with strategic customers to develop a compelling suite of discovery technologies for broad life science applications.”

Hrusovsky added, “I am excited by both PerkinElmer’s ability to leverage its global reach for the delivery of solutions and the opportunity to accelerate the development of important advances that make a difference in improving human and environmental health. I am confident this is the correct strategic direction at this time for Caliper customers, shareholders and employees, and we are looking forward to becoming part of one of the leading companies in our industry.”

Hrusovsky is anticipated to join the PerkinElmer senior leadership team following the close of the transaction.

The total purchase price represents a premium of 42% for Caliper Life Sciences shareholders, relative to the closing price of $7.39 on Wednesday, September 7, 2011, the last trading day prior to today’s announcement.
Caliper Life Sciences is a premier provider of cutting-edge technologies enabling researchers in the life sciences industry to create life-saving and enhancing medicines and diagnostic tests more quickly and efficiently.

Ciena Corp. (CIEN) pops on narrower Q3 losses

Thursday, September 1st, 2011

Ciena Corp. (Nasdaq: CIEN) shares climbed 18.9% to $14.55 after the network-equipment maker reported losses narrowed in its fiscal third quarter. Volume for the stock proved to be 24.4 million shares, or nearly four times its normal daily average.

The company put out a news release Sept. 1, saying that, for the fiscal third quarter 2011, Ciena reported revenue of $435.3 million. On the basis of generally accepted accounting principles (GAAP), Ciena’s net loss for the fiscal third quarter 2011 was $31.5 million, or $0.33 per common share, which compares to a GAAP net loss of $109.9 million, or $1.18 per common share, for the fiscal third quarter 2010.

Ciena’s adjusted (non-GAAP) net income for the fiscal third quarter 2011 was $8.3 million, or $0.08 per common share, which compares to an adjusted (non-GAAP) net loss of $8.0 million, or $0.09 per common share, for the fiscal third quarter 2010.

Ciena CEO Gary Smith was quoted in the same release as saying, “Our third quarter results, which included a favorable product mix and reduced operating expense to achieve an as-adjusted operating profit, demonstrate our early progress in delivering additional operating leverage from the business.”

Smith continued, “Despite current macroeconomic headwinds that could cause the rate of market growth to be moderated, we believe that we are well-positioned to capitalize on the continued modernization of today’s networks and to grow faster than the market.”

The Maryland-based Ciena offers leading network infrastructure solutions, intelligent software and a comprehensive services practice.

Avago Technologies Limited (AVGO) posts strong Q3 results, stock spikes

Wednesday, August 24th, 2011

Avago Technologies Limited (Nasdaq : AVGO) shares raced ahead 8.9% to $31.87 Wednesday, a day after announcing strong third-quarter results. Volume for the stock topped 3.3 million, already surpassing its daily average of 2.7 million.

A news release issued August 23 pointed to net revenue of $603 million, an increase of 10% from the same quarter last year.

Gross margin was $297 million, or 49.3% of net revenue. This compares with gross margin of $263 million, or 47.8% of net revenue in the same quarter last year.

Third quarter net income was $144 million, or $0.57 per diluted share. This compares with net income of $123 million, or $0.50 per diluted share in the same quarter last year.

The same release quoted Avago CEO Hock Tan as saying, “During the third quarter of fiscal 2011, our four target markets performed as we expected and we outperformed these markets as our revenue growth for the quarter came in at the high end of guidance.

“While uncertainties prevail in the global economy today, we continue to believe revenue will grow for the balance of the fiscal year due to share gains with certain wireless and wired OEMs.”

Avago Technologies Limited, based in San Jose, California, is a leading designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products.

Demand Media Inc. (DMD) OKs share buyback, share prices hike

Monday, August 22nd, 2011

Demand Media Inc. (NYSE: DMD) rose 8.5% to $7.80 after the online content provider said its board had approved the repurchase of as much as $25 million of its shares. Volume for the stock was 424,000 shares, surpassing its all-day average of around 410,000.

A press release issued August 22 quoted CEO Richard Rosenblatt as saying, “this share repurchase program reflects confidence in our business and our commitment to maximize shareholder value.”

Under the program, Demand Media is authorized to repurchase up to $25 million of its outstanding shares from time to time on the open market or in negotiated transactions. The timing and amounts of any purchases will be based on share price, market conditions and other factors. The program does not require the Company to purchase any specific number of shares and may be suspended or discontinued at management’s discretion at any time without prior notice.

Headquartered in Santa Monica, California, Demand Media, Inc. is a content and social media company that serves consumers, advertisers, publishers and creative professionals with a diverse portfolio of properties, products and services.