That’s right, no more posting my watchlist right at the market open…only TIMalert subscribers will get access as I emailed/posted this on the TIMalerts.com subscribers-only website this morning at 1am…in addition, that site is also gonna have a subscriber[More...]
If there is one trend that I truly believe in it is GPS and location awareness. This technology is another example of tech developed for the government and military which is finding consumer applications.
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Technology integration has always been a major challenge for pure-play chipmakers. Take the graphics processor market. In the mid- to late-1990s, some 30 independent chipmakers fought for market share...
We downgrade Acorda Therapeutics, Inc. (ACOR) to Sell from Hold, as we believe the shares are significantly overvalued at the current level, and expectations for profitability and future cash flow are entirely too high. We believe alternative medications and a high side-effect profile will keep Fampridine-SR as a niche-use drug only....
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In the past few days I wrote about General Motors Corp (NYSE:GM) and SiRF Technology Holdings Inc. (NASDAQ:SIRF) and talked about how they were trading at good entry points. Turns out Mastery wins again, SiRF shares are up 20% since Monday and GM is up 15% proving that it’s all about…Rick James Style baby
Everyone heard about GM, they announced a $3.3 billion loss, or 62 cents per share for Q1 2008 and plans to lay off approximately 3,500 hourly workers. Sounds horrible, but it beat Wall Street’s expectations. Analysts surveyed by Thomson Financial had expected a loss of $1.60 per share. You have to love low expectations, thank you U.S. Recession.
What I like more is what I wrote about last weekend:
It’s 1999 back in China when it comes to their love of the Cadillac Escalade and General Motors Corp (NYSE:GM) is once again going to cash in. Hard to believe? Believe it. China auto sales are expected to grow 15 to 20% this year. But demand for the biggest vehicles is even stronger, with sales of luxury cars and SUVs expected to surge by 40 to 45%.
There’s still room for GE shares to run, best of luck playing it.
One of the largest producers of GPS chips is trading near a 52-week low and sells for only $5.37 a share, the company?
SiRF Technology Holdings Inc. (NASDAQ:SIRF).
The 5 day move is beautiful:
Turns out shares were worth looking at. If you played this one, take some gains, SiRF still needs to win the hearts of Wall Street analysts, so use caution.
In the past few days I wrote about General Motors Corp (NYSE:GM) and SiRF Technology Holdings Inc. (NASDAQ:SIRF) and talked about how they were trading at good entry points. Turns out Mastery wins again, SiRF shares are up 20% since Monday and GM is up 15% proving that it's all about...Rick James Style baby
Today analysts at Dougherty & Company maintained their "buy" rating on SiRF Technology Holdings Inc (SIRF) and reduced their target price from $35 to $11. Too bad Wall Street kicked shares down 55% to $7.32 (and falling), I guess Dougherty & Company forget to Carry a 1 or 0 with their latest estimate.
Turns out SiRF's earnings call yesterday disappointed a few investors with fourth-quarter results coming in lower than Wall Street's expectations and issuing a first-quarter guidance below analyst estimates.
The San Jose, CA-based provider of software and semiconductors for personal navigation devices Monday posted a fourth-quarter profit of 28 cents per share, versus the mean 32-cent estimate of analysts polled by Thomson Financial. Oops.
SiRF makes chips and software to enable GPS navigation in cars and handheld gadgets. A couple of customers reduced their orders late in the quarter, and the important Korean market suffered shortages of a size of LCD screens that no other country digs.
In a conference call Chief Executive Michael Canning said that given the broader direction of the economy and the possibility of a decline in consumer spending, the company will not be providing full-year guidance. Canning said he sees 'much greater than normal seasonality and uncertainty' ahead and forecast an adjusted per-share loss of 4 cents to breakeven and revenue in the range of $71 million to $77 million for the first quarter. The mean estimate of analysts polled by Thomson Financial was for a per-share profit of 24 cents on revenue of $92.4 million.
SiRF was downgraded to neutral at Piper Jaffray (NYSE:PJC) , Thomas Weisel Partners, UBS (NYSE:UBS) Investment Research and Longbow Research. Oppenheimer lowered its rating on the company to perform.
'While we believe delayed handset launches at Motorola (NYSE:MEU) (NYSE:MOT) continue pressuring revenue growth into handset end markets, we now believe SiRF's competitive position within PND end markets is eroding faster than expected,' Piper Jaffray Senior Research Analyst Amit Kapur wrote in a note to clients Tuesday. 'Given current strong PND industry unit volumes and SiRF's leading share at most customers, we believe downside risk to estimates remains if macroeconomic conditions further deteriorate.'
Competition from other companies, including STMicroelectronics (NYSE:STM) N.V., Qualcomm Inc. (NASDAQ:QCOM) and Broadcom Corp. (NASDAQ:BRCM) 'is starting to have a more severe impact on market share, revenues and profitability, ahead of market expectations (and likely management itself) given the sudden deterioration in performance,' UBS research analyst Jeroen Bos said in a research note Tuesday.
So what to make of it all?
A new 52-week low for SiRF shares which is 20% below its previous all-time low stock price. There has to be some value with shares priced so low and with everyone looking to find a stock with a bounce, SiRF may be a winner for %5 to %10 gain in the next few months.
Article written by Mark Cheshier
Contributor to theStockMasters.com
Disclaimer: The Author does not hold any positions or shares in the securities mentioned in this publication
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It’s 1999 back in China when it comes to their love of the Cadillac Escalade and General Motors Corp (
