Thursday, August 23, 2012

Cirrus Logic Jumps On Analysts Note (CRUS, FWLT, STX, LANC, ZNGA)

Cirrus Logic, Inc. (NASDAQ:CRUS) shares gained 4.95% to $41.34 after Research analysts at Barclays Capital assumed coverage on shares of Cirrus Logic in a report released today. The firm set an “overweight” rating on the stock. Analysts expect that Cirrus Logic will post $2.33 EPS for the current fiscal year. The company develops analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets.

Can CRUS Continue To Move Higher? Find Out Here

Foster Wheeler AG (NASDAQ:FWLT) stock increased 3.57% to $21.20 after the company announced that a subsidiary of Global Engineering and Construction Group has been awarded a contract by Petróleo Brasileiro S.A. (Petrobras) for a world-scale grassroots gas-to-chemicals complex in Linhares, Espirito Santo State, southeast Brazil, called Complexo Gás-Químico UFN-IV. The company will provide basic engineering design (BED), front-end engineering design (FEED), and technical assistance and training during the engineering, procurement, construction (EPC) phase through to completion of the plant performances tests.

Lancaster Colony Corp. (NASDAQ:LANC) stock increased 3.62% to $71.86 after the company reported fourth quarter  net income of $25.95 million, or $0.95 per diluted share, from net income of $29.29 million, or $1.07 per diluted share, reported for the corresponding period last year. Net sales for the fourth quarter increased 7% to $273.96 million from $256.03 million in the corresponding quarter in the previous year. Analysts expected earnings per share of $0.79 on revenues of $263.07 million for the quarter.

Can LANC Continue To Move Higher? Find Out Here

Zynga Inc (NASDAQ:ZNGA) shares jumped 1.84% to $3.20 after the company’s operations are getting the least praise in markets among Internet media companies, and management’s refusal to consider a sale as growth slows is blocking an avenue for shareholders to recoup losses. Losses in Zynga shares increased in July when the company reported lower second-quarter profit than analysts forecast, citing changes to Facebook’s site made it harder for users to find its games.

Seagate Technology PLC (NASDAQ:STX) stock fell 4.41% to $33.62 after  the company said it has reached an agreement to buy the former manufacturing plant and headquarters building of Solyndra LLC, which was financed by a controversial government loan. The price for the Fremont, California, building could not be determined. Tim Gallen, who represents Jones Lang LaSalle Inc which marketed the property, declined comment.

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