Posts Tagged ‘technology’

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MarketAxess Holdings Inc. (MKTX) hits stock high amid takeover rumors

Wednesday, August 17th, 2011

MarketAxess Holdings Inc. (Nasdaq: MKTX) shares gained 14.3% to $27.48, after The Wall Street Journal on Tuesday reported on its website that the operator of an electronic bond-trading platform might be on the auction block. Volume for the stock was 1.7 million shares, or about 11 times its normal daily volume.

The Journal piece, citing folks close to the situation and substantiated Wednesday by Reuters, said that if MarketAxess decides on a sale, the company could fetch around $1.5 billion.

Though the names of the interested parties are not known, potential bidders might include Bloomberg LP, SunGard Data Systems BAINSD.UL and private equity players, said Niamh Alexander, an analyst with Keefe, Bruyette & Woods.

“We also consider exchanges but the price might be relatively high for them, nonetheless an all-cash transaction by ICE or CME could still be accretive,” Alexander said in the Reuters story.

MarketAxess is big in electronic trading of corporate bonds and is making headway in credit derivatives ahead of planned regulations that will shift more of that market toward venues like MarketAxess.

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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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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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BIOLASE Technology, Inc. (BLTI) shares spike on bottom line

Wednesday, August 10th, 2011

BIOLASE Technology, Inc. (Nasdaq: BLTI) shares leaped 19.1% to $3.31, after reporting quarterly net revenue of $12.1 million, up 105% from $5.9 million in the same quarter for 2010. Volume for the stock was more than 717,000, already surpassing a daily average of around 636,000.

A news release issued August 10 also noted that Q2 GAAP loss was $753,000, or $0.03 per share, with Q2 Non-GAAP profits around $6,000, or $0.00 per Share. This was the third consecutive quarter of Non-GAAP profit, first time since the second quarter of 2004.

The release also said the percentage of net revenue in this year’s second quarter from the U.S. and international markets totaled approximately 71% and 29%, respectively, as compared to approximately 60% and 40% of net revenue in the prior-year comparable period.

Federico Pignatelli, Chairman and CEO, was quoted in the same release as saying, “The rate of revenue growth and operational progress at the Company continued to accelerate in the second quarter and our momentum going into the second half of the year is strong. Sales activities across our laser product platforms remained very active — especially in the case of the Waterlase iPlus, which we believe will become the most successful all-tissue dental laser in history. In addition, we are now taking orders and will soon be shipping the first units from our new BIOLASE DaVinci Imaging™ product line.”

BIOLASE Technology, Inc., the world’s leading dental laser company, based in Irvine, California, is a medical technology company that develops, manufactures and markets dental lasers and also distributes and markets dental imaging equipment, products that are focused on technologies that advance the practice of dentistry and medicine.

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