Posts Tagged ‘technology’

« Older Entries
Newer Entries »

EMS Technologies Inc. (ELMG) has honey of a day on Honeywell deal

Monday, June 13th, 2011

EMS Technologies Inc. (Nasdaq: ELMG) shares gained 32.3% to $32.82 Monday, after Honeywell International Inc. (NYSE: HON) said it would acquire the maker of wireless-communications products for $33 a share. Volume for EMS stock topped the 4.7-million mark, far greater than its daily average of just above 80,000 shares.
Under the terms of the agreement, which has been unanimously approved by both companies’ Boards of Directors, a wholly-owned subsidiary of Honeywell will commence a tender offer within ten business days to purchase all of EMS’s outstanding shares for $33.00 per share in cash. The transaction represents a 33% premium to EMS’s closing stock price on June 10, and a 59% premium to EMS’s closing price on April 18, one day prior to the Company’s announcement that it was reviewing strategic alternatives.

The Board of Directors of EMS will recommend that EMS shareholders tender their shares in the tender offer. The transaction, which is subject to successful completion of the tender offer, regulatory approval and customary closing terms and conditions, is expected to be completed in the third quarter of 2011.

“This announcement is the culmination of the robust strategic review process we have been engaged in since April,” said Jack Mowell, Chairman of EMS’s Board of Directors in the June 13 press release trumpeting the deal. “With the assistance of experienced outside advisors, we determined that this transaction is the best way to maximize value for our shareholders.”

EMS, located in Norcross, Georgia, keeps people and systems connected – on land, at sea, in the air or in space. EMS offers industry-leading technology to support Aero Connectivity and Global Resource Management markets though a broad range of cutting-edge satellite and terrestrial network products; helping businesses, assets and people stay connected and promoting universal mobility, visibility and intelligence

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

Skyworks Solutions Inc. (SWKS) has above-average trading day on above-market growth

Tuesday, June 7th, 2011

Skyworks Solutions Inc. (Nasdaq: SWKS) shares rose 8.3% to $25.20 Tuesday, after the wireless semiconductor company affirmed its upbeat third-quarter forecast. Volume for the stock 10.8 million shares, more than double its daily average.

The Woburn, Mass.-based company is affirming its outlook for above-market growth, excluding its recently announced acquisitions. In April 2011, Skyworks guided to approximately $345 million in revenue with non-GAAP diluted earnings per share of $0.46 for the current quarter.

Further, during the earnings conference call, the Company indicated it was on a path to approach a $1.5-billion-revenue run rate with $2.00 in annualized non-GAAP diluted earnings per share in the September quarter. This growth outlook is being driven by the Company’s broad customer base, diversification into new markets and increasing share gains.

In the June 7 press release announcing the projections, Skyworks Chief Financial Officer, Donald Palette declared, “Skyworks’ core business continues to outperform our addressed markets and we believe this will be clearly reflected in our performance and guidance.

“To be clear,” Palette concluded, “our revenue and non-GAAP earnings outlook for both the June and September quarters is before we add the accretive SiGe and Advanced Analogic Technologies acquisitions.”

Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed signal semiconductors. Leveraging core technologies, Skyworks offers diverse standard and custom linear products supporting automotive, broadband, cellular infrastructure, energy management, industrial, medical, military and mobile handset applications.

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

Telvent GIT SA (TLVT) darts higher on French sale

Wednesday, June 1st, 2011

Telvent GIT SA’s (Nasdaq: TLVT) U.S.-listed shares rose 15.2% to $39.70, after France’s Schneider Electric said it would acquire the Spanish software maker for $2 billion. Volume for the stock totaled 4.4 million shares, compared to an all-day average of 141,632.

Abengoa, the international company that develops innovative technology solutions for sustainable development in the energy and environment sectors, has reached an agreement to sell its 40% stake in Telvent to Schneider for $40.00 U.S. per share. The transaction is subject to approvals from the European and U.S. competition authorities. The sale will be made as part of a tender offer that Schneider Electric will be launching within 10 business days.

Manuel Sanchez Ortega, CEO of Abengoa, said, “I believe this is a highly satisfactory transaction for Abengoa. We are strengthening our balance sheet from the sale of assets at a very attractive valuation, so we can continue to develop innovative solutions for sustainable development, and creating value for our shareholders. For us, it is equally important that the offer has been made by a company like Schneider Electric, which is presenting a solid and attractive project for Telvent, which in turn creates a great professional opportunity for Telvent employees.”

Telvent is a leading real-time IT solutions and information service provider, which employs more than 6,000 professionals in 19 countries. It was organized as a subsidiary of Abengoa in 1969. At the time of its initial public offering in 2004, Telvent was the first Spanish company to undertake a primary listing of its ordinary shares on the NASDAQ stock market.

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

LinkedIn Corp. (LNKD) rings the bell, gains more than 30 percent

Thursday, May 19th, 2011

LinkedIn Corp. (NYSE: LNKD) shares more zoomed 34.6% to $101.93 as the professional-networking site made its market debut. Shares of the new issue totaled nearly 26.5 million.

LinkedIn Corporation, the world’s largest professional network with more than 100 million members worldwide, opened for trading on the New York Stock Exchange (NYSE) under the ticker symbol “LNKD” after its initial public offering in which it raised $352.8 million in gross proceeds. LinkedIn CEO Jeff Weiner, joined by members of the company’s management team, celebrated the company’s first day of trading on the NYSE by ringing The Opening Bell.

“Becoming a publicly traded company on the NYSE is another significant step toward LinkedIn’s goal of connecting the world’s professionals to make them more productive and successful.” Weiner noted afterwards.

LinkedIn is the world’s largest professional network on the Internet, whose member base currently includes executives from every Fortune 500 company. The company has a diversified business model with revenues coming from member subscriptions, advertising sales and hiring solutions. LinkedIn was founded in 2003 and is headquartered in Mountain View, California.

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

Dynavox Inc. (DVOX) shares take flight on Q3 numbers

Thursday, May 12th, 2011

Dynavox Inc. (Nasdaq: DVOX) shares climbed 38% to $8.35 after the maker of education and communication products for those with learning disabilities reported late Wednesday third-quarter results that beat expectations. Volume for the stock was 1.1 million shares, towering over a daily average of less than 60,000.

For the third quarter ended April 1, 2011, net sales were $28.7 million, an increase of 1.0% compared to net sales of $28.4 million for the third quarter ended April 2, 2010. Sales of the Company’s speech generating devices increased 1.3% to $22.7 million, and sales of its special education software were flat at $6.0 million from the prior year.

Operating income was $3.8 million in the quarter, compared to operating income of $5.3 million in the same period a year ago. Operating income for the third quarter of fiscal year 2011 included a $1.0 million impairment loss related to intangible assets and fixed assets acquired as part of the Company’s product acquisition in July 2009.

Dynavox Chief Executive Officer Ed Donnelly commented, “In spite of the ongoing macroeconomic challenges, during the third quarter we saw some signs of improvements and our consolidated top line was roughly equal to the last year. Sales trends across both devices and software provide validation of our efforts to adapt to the environment as well as the fact that the demand for our products and services remains intact. We are encouraged by the steady sequential upside trend in our U.S. device business, which comprises almost three fourths of our total revenue.”

The Pittsburgh-based DynaVox Inc. completed an initial public offering (IPO) on April 27, 2010. As a result of the IPO and certain other recapitalization transactions, DynaVox Inc. became the sole managing member of and has a controlling interest in DynaVox Systems Holdings LLC and its subsidiaries.

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

« Older Entries
Newer Entries »