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| CONCURRENT COMPUTER | (NSDQ: CCUR)Add to My Watchlist |
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| Tue, Oct 27, 2009 | ||
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Concurrent Computer Corp. F1Q10 (Qtr End 30/09/09) Earnings Call Transcript.
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Todd Koffman - Raymond James. Todd Koffman - Raymond James Dan, can you just clarify what you said in your opening remarks about demand, I think I heard you say, you expect demand to bottom in the first half...
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| Wed, Aug 26, 2009 | ||
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Closing : Dow Scraps Back Late, Extends Streak To Seven
Stock averages finish flat to positive owed to a late-session run that capped a day marked largely by profit-taking. The Dow's slim gain was enough to stretch its win streak to seven sessions.
Positive reports on new-home sales and factory orders offered support to the broader stock market but failed to inspire a fresh run at new highs. Stock averages hit their best levels of the year Tuesday and the broad S&P 500 is up nearly 50% since the 12-year lows hit in March.[More...]
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Daily Business News - Durable Goods & Home Sales Key - Wall Street Greek | |
| Mon, Jan 21, 2008 | ||
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The Greek's Week Ahead - Money Honey Does Davos
The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week. The federal government is desperately seeking the perfect fiscal stimulus package to save America. The administration is frantically readying specifics for the State of the Union Address, and Congress busily meets to debate the topic this week. The Federal Reserve, meanwhile, attempts to use everything in its bag of tricks to restore confidence. Well, The Greek knows the perfect medicine to do the trick. Maria Bartiromo warms January every year as she traverses the Atlantic to cover the World Economic Forum in Davos, Switzerland. Heck, if she can melt snow in the Alps, then the Money Honey outta be able to stimulate the economy. Don't you just love Davos time?... The best cure for the horror of a trading week we witnessed in that pitiful period just passed is a three-day weekend. Now, we kindly warn the faint-hearted to please leave the room as we recap the destruction. After a positive start to last week, the Dow Composite sank through the rest of the period. The Dow Jones Industrials moved 4% lower on the week, while the S&P 500 sank 5.4% and the Nasdaq fell 4.1%. The troubles were not limited to U.S. shores though, with just about every major global market also sinking. Only Taiwan rose on the week, moving some 2.1% higher. Leading losers in Asia were the Philippines, down 9.5%, and Indonesia, down 8.6%. The important markets of India and Hong Kong fell 7.8% and 7.7%, respectively. Things weren’t much better in Europe, with Sweden doing best in losing just 3.2%. On the other end of the spectrum, Belgium and Norway lost 7.7% each. The DJ STOXX Index sank 4.7%. In the states, all sectors sank except fixed income, where declining yields and increased demand drove bond prices higher. Still, fund money flows were positive except in the municipal bond space, where presumably the trouble brewing at MBIA ( Think positive... Speculation about the likelihood and degree of fiscal stimulus will be front and center again this week, as Congressional committees in both branches of Capitol Hill meet to discuss just that. We here at The Greek believe the President’s idea to impact GDP by 1% or so with stimulus would be effective, and we also approve of the rumored $800 tax rebate check. That would prove meaningful to a heck of a lot of folks, and for those who might consider it just a pittance, it offers incentive to go buy something they’ve been coveting for awhile. Retailer shares reacted positively to the news. Also, the theoretical $1,600 bonus for married couples is precisely the shot in the arm the American household needs right now. Apparently Democrats are more concerned about how we are going to pay for these desperately needed offerings, and John McCain on the Republican side also harped on the subject. I heard NY Democratic Senator Charles Schumer mouthing off about how much better increased government spending would be, over the proposed direct payout. How do you feel about that America? Would you rather the government decide where to spend this cash infusion, or do you think you might do better with that decision yourself? Feel free to comment using the “comment” link below this article. Market-Moving Event Schedule: Monday U.S. markets are closed to honor the memory of Dr. Martin Luther King Jr. A handful of companies were still scheduled to report earnings on Monday though, including DST Systems ( Tuesday The Senate Finance Committee begins important discussion of fiscal stimulus. We hope the Committee gets things off on the right foot, and does not send a message to the market of a bogged down debate that could lead to a late impacting, future government aid package. Americans need that money now! We’ll get an indication of just how badly so, with the 10:00 a.m. release of State Street’s Investor Confidence Index. Two important foreign central banks are scheduled to make announcements on Tuesday. The Bank of Canada is expected to cut its target rate by a quarter point as it weighs the near-term impact of a slowing American economy on its Republic. The Bank of Japan will end its two-day meeting on Tuesday, and is expected to announce that it will hold rates steady at 0.5%. It’s hard to envision any central bank raising rates now, outside of China where growth continues, but the ECB continues to raise the specter of inflation in its public discussions. Barron’s reports that at some point this week China will announce its economic growth figures for the fourth quarter and the full year of 2007. This report, if it shows impact from U.S. softening, could set off the fire alarm in the world’s emerging markets. Up to this point, still high-flying Asian investors (relatively speaking) have only smelled what they think is smoke. With the U.S. flailing, pension fund flows have likely been increasing into emerging markets, helping to offset profit-taking impact and the global growth slowdown scare. OPEC is scheduled to issue its monthly oil market report, where it should be all like, “I told you so hungry energy consuming world.” OPEC will likely point toward American economic weakness as good reason to keep production steady, or dare I say, even warn of potential production cuts. Hopefully, George Junior got a few good words in for us on his Mid-East trip last week. Tuesday’s earnings schedule will be headlined by Apple ( Other notables on the schedule include Cree Inc. ( Wednesday The House Budget Committee picks up the baton from the Senate, when it commences its own debate regarding fiscal stimulus on Wednesday. The weekly Same-Store Sales Report from the ICSC-UBS is pushed back day for the holiday-shortened week. Recall, last week’s data showed a sharp drop in growth rate to 1.1%. With all indications that the consumer is softening, and is also now well aware of his own situation, you can expect further weakness in this figure. The Mortgage Bankers Association’s Mortgage Applications Index should continue to show benefit from sharply lower interest rates. Yields have dropped precipitously on the flight to safety and expectations for a Fed rate action. The treasury market forecasts a 50 point cut at least, and is actually looking toward 75 points. Now that the Fed’s “transparency” has raised expectations, they can let us all down with action that is more likely to mirror their conservatism. If we don’t get 75 points in aggregate by the end of the month, I see my hope for near-term rally sharply damaged. The Greek continues to expect the Fed to follow up the President’s State of the Union introduced stimulus plan with a sharp cut at the regular January meeting. Sharp better mean 75 to 100 basis points though, and 50 to 75 seems more likely from this group... 
It’s Davos time! Yes, it’s already that time of year when Maria Bartiromo gets to don her snow bunny outfit and board a plain to Switzerland to the World Economic Forum. While there, she will utter her favorite word (now ours as well), “Davos,” again and again. I must admit, it’s a turn on for The Greek! We love you Money Honey! Hopefully Switzerland will also be a turn on for the Greek national soccer club in June when it defends its European championship. The EIA will report on Petroleum Status at its regular time, 10:30, but the market remains focused on the economic outlook and this week, on OPEC’s announcement. The Greek continues to see oil prices declining this year until Iran, so we would underweight energy. We outlined this view in our article, Sunset for Solar Stocks, in case you missed it. Wednesday’s earnings schedule includes some of the market’s heavy hitters including Brinker International ( Thursday At 8:30, the market will be closely attuned to the Weekly Initial Jobless Claims Report from the Labor Department. The last few weeks have drifted well off the peaks of late December. Bloomberg’s consensus of economists is looking for new claims amounting to 321K for the week ended January 19. Last week’s reading measured 301K, but offered no relief to the market. The Greek continues to expect widening financial sector and retail/restaurant space layoffs to mount this year, driving unemployment well above the current 5.0%. At 10:00 a.m., Existing Home Sales for December are seen at an annual run rate of 4.95 million. Last week’s Housing Starts Report showed they sank to lows not seen since 1991. We wouldn’t expect any positive surprise here either. What should start housing stocks higher is a 100 point move by the Fed... Otherwise, the gradual thinning of home inventory should do it by mid-year, despite rising foreclosure channel flow. The stocks will lead their market’s recovery, not visa versa. The EIA’s Natural Gas Report is due at 10:30. The EIA’s own website indicates this report will be on Thursday, but in the past, long holiday weekends have led the group to push back reports a day. If that’s the case here, look for Petroleum Status Thursday and Natural Gas on Friday. Get ready for a meaty earnings schedule on Thursday, including 1-800-FLOWERS.COM ( Friday There’s nothing on the slate outside of earnings news on Friday. Those reports include Caterpillar ( We hope you once again found value in our weekly market-moving event planner, and we look forward to providing your daily insight all week long at WallStreetGreek.com. Help us grow our grass roots effort by clicking the small envelope at the bottom of this article and sending notice to your friends about the Wall Street Greek value add. Receive Wall Street Greek FREE via email by subscribing here . ( disclosure ) 
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| Mon, Aug 13, 2007 | ||
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The Greek's Week Ahead - The Fed, Treating the Symptoms
Following the central bank actions of the past few days, the question begs to be asked, are we treating the disease or its symptoms... This rhetorical question clearly communicates the view of Wall Street Greek. Let's just hope the band-aid sticks long enough for the bleeding to stop.
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Wall Street Greek
The stubborn Fed and it's shell-shocked chairman seem likely to hold steady now regarding interest rates. We do not expect an emergency Fed action, however necessary we view it. Counterparties to this debate will argue that the global economy is healthy, and American economic growth is strong. My friends, to this we simply state that the easiest prognostication to believe, or to make others believe, is a continuation of the present environment. To intelligently go in another direction would require missing a golf round at the club or brunch at the Four Seasons, a serious disruption to the prognosticator day-plan. God forbid! So, the status quo is a safe bet, and the easiest to back off from when you're wrong. Wall Street Greek believes the Fed must cut interest rates to help mortgage bearers navigate the minefield of their own making. It would stabilize the housing market, allow borrowers to renegotiate into manageable loans, and stabilize secondary markets for mortgage-backed securities. We anticipate the current path will do nothing to support flailing consumer spending, the linchpin of the American economy. The Fed's buying of MBS is helping the hedge funds and investment banks out of trouble, which is helping avoid a near-term market crash. But, this is just a symptom of the larger disease. The Fed has to recognize this before it's too late to avoid recession, in our view. However, the direction the central bank has chosen seems set. Let's take a look at the week ahead... Monday starts the week with the July retail sales data at 8:30 a.m. Since this particular edition of our week ahead was written and published on Monday, we already have the results for you. July retail sales came in up 0.3%, compared to the low-bar consensus forecast for a rise of 0.2%, as compiled by Bloomberg. Excluding auto sales, which were down, sales rose 0.4% and met expectations. Separating out autos, gasoline and building materials, sales climbed 0.6% after a 0.3% rise the month before. Even so, retail sales are currently trending below last year, and last week's individual retail reports indicated the consumer is not spending in the mall. This has led many to refer to this year's "back to school" shopping season as late. We wonder if they mean late, as in "not on time," or late as in dead. Seasonal sales should show an up-tick over prior months, but we need to study sales versus prior year results now to weed out the impact of back to school. June Business Inventories were reported at 10:00 EDT on Monday, and they came in as expected. The rise of 0.4% compared to May's increase of 0.5%. While the data is valuable in isolation, the comparison of inventory to sales enhances the value of the metric. However, the ratio measured 1.27 in June, compared to 1.26 in May. We are looking backward with this figure, so we suspect July and August are probably not reflective of the environment that existed in June and May. We mean to say that we expect retail is weakening, and as a result business inventories should be rising based on light sales or falling based on conservative inventory stocking. Either event is bad, but the sales drop-off dynamic would be worse. Monday's earnings schedule included American Railcar Industries ( Tuesday morning brings the weekly ICSC-UBS Same-Store Sales Report. Last week's data indicated a weekly same-store sales decline of 0.3% and year-over-year increase of 3.1% for the week ended August 4th. We continue to expect year-to-year comparisons to soften as 2007 progresses. Two important economic data bits will be reported at 8:30 a.m. EDT. June international trade is expected to show the trade deficit widened by a billion dollars to $61.0 billion, according to Bloomberg's consensus of economists. The July Producer Price Index is expected to show an increase of 0.1%, and a 0.2% rise less food and energy. Inflation concerns have kept the Fed from cutting rates to help the mortgage market. Since we continue to view food and energy prices important to consumers and driven by secular factors, not seasonal or cyclical, we'll be watching the headline figure. Ironically, economic concerns pressure energy prices lower, so if the market disagrees with the Fed, inflation as defined by the headline figure, should ease off a bit. We regard longer term (quarterly) trends more important as energy is volatile month-to-month, regardless of the secular trend. The European Commission is scheduled to report its quarterly growth expectation for the region. Also, the Wall Street Analysts Forum kicks off its conference on Tuesday with presentations planned from Vista Gold ( Home Depot ( Greek businesses are closed on Wednesday for the celebration of Assumption Day, as are markets in Austria, Chile, Poland, India and South Korea. I will miss celebrating the holiday with friends at one of the great fortress villages of my island ancestors. I ask my compadres to please spill a glass of ouzo for me, and to place one within the zeimbekiko circle alit with fire in my memory. I hope to rejoin you next year. The Bank of England will publish the minutes of its August meeting. Central bank meeting minutes should start to become more interesting going forward. In other news, for those of you interested in playing the nuclear energy card, Van Eck Global launches its Market Vectors-Nuclear Energy ETF on Wednesday. Economists will be closely attuned to the wire on Wednesday morning for a slew of economic data. The regular Mortgage Bankers Association Purchase Application report starts us off at 7:00 a.m. At 8:30, the Consumer Price Index is expected to post a 0.1% increase for July, and a 0.2% rise excluding food and energy prices. Also at 8:30, the Empire State Manufacturing Survey is expected to measure 18.0, versus 26.5 in July. Then at 9:15, monthly industrial production will be reported. Bloomberg's consensus is expecting a July increase of 0.2%, and capacity utilization of 81.8%. This compares to June's growth of 0.5% and capacity utilization of 81.7%. At 10:30, commodity traders will be anxiously awaiting the weekly petroleum inventory report. Finally, at 1:00 p.m., the National Association of Home Builders will be set to report the Housing Market Index. Most will be expecting a gloomy mood and report from the industry players. The Wall Street Analysts Forum will begin day two of its conference, with presentations from Mechanical Tech ( Thursday will likely be keyed by two important economic drivers, housing and jobs. At 8:30 a.m., Housing Starts for July are expected to report a running annual pace of 1.41 million, compared to 1.467 million in June. Consolidation in the housing industry is now happening at a fast pace, and we expect to see further bankruptcy and property write-off in the near-term. However, we believe we may now be nearing an opportune time to pick at a housing stock, and we have one in mind. If our due diligence supports our theory, we will tell you which one soon enough. Also at 8:30, the Labor Department will report Initial Weekly Jobless Claims. Bloomberg's consensus expects 315k for the week ended August 11. We expect consumer softness and retail weakness to soon have this number on the rise, but first look to the monthly Employment Situation Report to show lower levels of new hiring. The EIA will report natural gas inventory at 10:30 a.m. as usual, and at noon EDT, the Philadelphia Federal Reserve will report its region's manufacturing survey. The August reading is expected to be 8.0, compared to 9.2 in July. Finally, money supply will be reported as usual at 4:30 p.m. All of a sudden, this is a mainstream news bit, thanks to recent central bank activity. The Wall Street Analysts Forum will close on Thursday with presentations from Lexington Realty Trust ( Earnings reports are anticipated from a few of the major retailers, including Kohl's ( Friday wraps up the busy week with the University of Michigan's Consumer Sentiment Report for August. Bloomberg's consensus is looking for a reading of 88.0, compared to July's 92.4. We think the measure could be worse, and we expect it to certainly trend lower in months to come, but this is not new news, as the overriding trend through the year has been on the downslide. In other news Friday, St. Louis Fed Chief, William Poole, is scheduled to address a group about U.S. export opportunities. Poole has been vociferous about keeping the Fed funds rate unchanged, and has become sort of the archenemy of CNBC's Jim Cramer. Friday's earnings reports include Concurrent Computer ( Receive Wall Street Greek via email by subscribing here . If you change your mind, it's easy to unsubscribe. We respect your privacy and will not share your information with any third party. ( disclosure ) 
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