Sirius XM Radio Inc (NASDAQ:SIRI) shares fell 0.95% to
$2.09. The shares of the company was yesterday upgraded by Zacks from a “neutral”
rating to an “outperform” rating. The firm currently has a $2.50 price target
on the stock.After continuous selling since the beginning of May, the
stock started the month of July on very optimistic note and rose 7% on the very
first trading session of the day. There was no news for such large up moves.
However, the stock witnessed huge buying on technical optimism.
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The analysts said that they have upgraded their
recommendation on SIRIUS XM Radio to Outperform based-on its record-high net
subscribers’ addition in the second quarter of 2012. This improved performance
was mainly due to strong management execution on the back of rising auto sales.
The firm further expect the company to improve in several other operational
metrics, including adjusted EBITDA, free cash flow, and further penetration in
the U.S. auto sector, in the second quarter.
Pixelworks, Inc. (NASDAQ:PXLW) stock surged 10.92% to $2.64
after the company reported a second-quarter net loss of $1.1 million or $0.06
per share, versus the net loss of $2.1 million or $0.13 per share in the same
period last year. Excluding items, non-GAAP net loss for the quarter was $0.3
million or $0.02 per share, compared to the net loss of $1.4 million or $0.09
per share. Net revenue was $15.5 million from $15.7 million a year ago.
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Looking forward, the company expects third quarter of 2012
revenues to be in the range of $16-$18 million, GAAP earnings per share to be
between $0.04 and a net loss per share of $0.09 and non-GAAP earnings per share
(EPS) in the range of $0.08 and a net loss per share of $0.06. Analysts are
expecting the Company to report revenue of $17 million and EPS of $(0.03) for
third quarter of 2012.
Facebook Inc (NASDAQ:FB) shares climbed 0.19% to $29.05
after Facebook Inc.'s Mark Zuckerberg and senior managers will meet the top
brass at Wal-Mart Stores to discuss ways of deepening relations between the two
companies. Investors are concern that the company’s earnings report next week
will point to slowing sales growth. The company will report second- quarter
sales of $1.16 billion, according to analysts’ estimates. Shares of FB have
slumped 9% from recent peak.
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Before Earnings
Rambus Inc. (NASDAQ:RMBS) shares plunged 17.45% to $4.30
after the company reported a second quarter net loss of $32 million or $0.29
per share, as compared to a net loss of $10.6 million or $0.10 per share in the
same quarter last year. Adjusted loss
for the quarter was $1.1 million, as compared to net income of $12.4 million in
the prior year. Revenues for the quarter were $56 million, as against $66
million in the same quarter last year.
Looking forward, the company expects third quarter of 2012
revenue to be in the range of $54-$60 million and pro forma net income is
expected to between a loss of $7 million and a loss of $1 million. Analysts are
expecting the Company to report revenue of $62 million and net income of $(22)
million for third quarter of 2012.
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