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.
Can SIRI Moves Back To its 52-week High? Get Trend Analysis
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.
Get Free Updates on Earnings Everyday For Free Here
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.
Find Out How Should You Trade FB 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.