Wednesday, June 6, 2012

Lee Enterprises Soars On Buffett's Stake (LEE, SHFL, BIDU, RFMD)

Lee Enterprises, Incorporated(NYSE:LEE) is among the notable gainers on NYSE and soared 21.74% to $1.40 after Billionaire Warren Buffett's revealed that the firm has a 3.20% stake in the company. Buffett's Berkshire Hathaway Inc., disclosed that it owned 1.66 million shares of Lee's stock as of March 31. The company made the disclosure after the Securities and Exchange Commission refused to let Buffett keep the investment confidential. The SEC often lets Buffett conceal investment moves while he's making them because so many investors try to copy him.
Shuffle Master, Inc.(NASDAQ:SHFL) rebounded slightly by 1.37% to $12.55 after plunging over 13% in the previous trading session. Yesterday, the company reported net income of $9.7 million or $0.17 a share in the second quarter, down from a year ago profit of $8 million or $0.14 a share. On an adjusted basis, the company would have earned 20 cents a share. Analysts were estimating the company to report 20 cents a share. Revenue during the quarter jumped to $66 million, compared to $59.9 million last year. Analysts expected revenues of $65.12 million. Moving forward, CEO Issacs said, "We are confident that our continued strong momentum across our core businesses and the roll out of our interactive initiatives are key drivers of our future earnings potential and will write the next chapter of our profitable growth story."
Baidu.com, Inc. (ADR)(NASDAQ:BIDU) gained another 2% to $119.63. The Company is all set to offer the mobile market its newest smartphone which is designed to run on Baidu’s own search system, Baidu Cloud that will provide the users access to applications including maps and licensed music services. The new product carries 100 gigabytes of storage on its cloud system and is being developed by Foxconn International Holdings Ltd and is estimated to be priced under CNY1000 ($157 USD).
Revenues in the first quarter reported had showed growth of 75% to $677.1 million and its net earnings had grown 75.90% year-over-year to $299 million making the reported earnings of $0.87 per diluted share beat analyst estimate of $0.84 per diluted share.
RF Micro Devices, Inc.(NASDAQ:RFMD) rose another 3.72% to $4.18 after surging over 13% in the prior session. Analyst at Avian Securities upgraded the stock positive and set a $4.50 price target. The firm says recent checks have uncovered some "positive nuggets" on RF Micro Devices, including that its content on the iPhone--while still relatively small--is set to more than double with the iPhone5.

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