Volume Spike Investor » BRCM

Marvell Taking out 52-Week Highs (MRVL, BRCM, TXN)

247admin — Fri, 04 Dec 2009 12:48:23 +0000

Marvell Technology Group Ltd. (NASDAQ: MRVL) is getting a real boost. The communications chip maker (ergo designer, fabless) soared in after-hours trading after the company beat earning. It also raised guidance to $0.33 to $0.39 EPS on revenue of $820 to $850 million, way above the $0.27 EPS and $779.6 million in revenues expected by Thomson Reuters. Shares were up almost 6% at $17.50 on 1.235 million shares last night in the after-hours session. It is still too early before the 8:00 AM EST bell to get a real volume call but the stock is trading around $17.70 versus a $16.53 pre-earnings close Thursday. Be advised, this is a 52-week high as the 52-week range is $5.30 to $16.85. Average volume is close to 11 million shares. This may be a ‘tail wagging the dog’ but we’d watch Broadcom Corporation (NASDAQ: BRCM) and Texas Instruments Inc. (NYSE: TXN) on this news.

JON OGG

Broadcom Misses the Rally (BRCM)

247admin — Fri, 23 Oct 2009 12:41:23 +0000

Broadcom Corp. (NASDAQ: BRCM) is sitting on the sidelines of the market rally in tech stocks that beat earnings. The communication chip maker posted earnings of $0.40 in non-GAAP EPS (was $0.16 in GAAP EPS) and a 20% revenue jump sequentially and 3.4% lower than a year ago to $1.254 billion. Thomson Reuters estimates were $0.33 non-GAAP EPS and $1.16 billion in revenues. It is guiding revenues flat sequentially. This stock at 5:26 PM EST yesterday was down at $28.00, down 8.88% on 1,416,728 million shares since the close. At 8:40 AM EST we have seen only 100,000 shares trade hands, but the stock is down 8% at $28.25. JON OGG

After-Hours Best & Worst (AMZN, BRCM, COF, SPWRA, SYNA)

247admin — Thu, 22 Oct 2009 21:36:42 +0000

Amazon.com Inc. (NASDAQ: AMZN) is a screamer after the close after the online retail giant posted $0.45 EPS on a 27% revenue gain of $5.45 billion, Thomson Reuters was at $0.33 EPS and $5.03B in revenues. The guidance was $8.12 to $9.12 billion vs. $8.12 billion estimates. FULL NEWS at 24/7 Wall Street. AMZN: $107.56, up 15.10% on 6,192,434 shares since the close.

Broadcom Corp. (NASDAQ: BRCM) is in trouble in the after-hours trading session. The communication chip maker posted earnings of $0.40 in non-GAAP EPS (was $0.16 in GAAP EPS) and a 20% revenue jump sequentially and 3.4% lower than a year ago to $1.254 billion. Thomson Reuters estimates were $0.33 non-GAAP EPS and $1.16 billion in revenues. It is guiding revenues flat sequentially. BRCM: $28.00, down 8.88% on 1,416,728 million shares since the close.

Capital One Financial (NYSE: COF) posted net income of $425.6 million, or $0.94 EPS and income from operations of $1.03 EPS compared to estimates of $0.14 EPS. “We are successfully weathering the storm, but the storm is not over…” FULL NEWS at 24/7 Wall Street. COF: $41.00, up 6.9% on 1,144,909 shares since the close.

SunPower Corporation (NASDAQ: SPWRA) is getting clobbered. The solar company beat estimates: $0.42 EPS as revenues rose 56% to $466 million vs. Thomson Reuters estimates of $0.40 EPS and $420.1M revenue; Gross margin was down 1.9 percentage points at 20.7%. The problem is mixed guidance: $1.15 to $1.25 EPS for 2009 vs. $1.21 consensus on revenues of $1.425 to $1.50 billion (prior was $1.35 to 1.70 billion and estimate is $1.43 billion. SPWRA: $29.80, down 10.5% on 622,724 shares since the close.

Synaptics Inc. (NASDAQ: SYNA) is getting a relief rally after beating estimates. Earnings were $0.48 EPS and a 3% revenue gain to $119.6M vs. Thomson Reuters estimates of $0.42 EPS and $116.4 million in revenue. Gross margin of 40.4% was soft with some expecting 40.5% or 40.6%. The company talked up its opportunities and production. SYNA: $26.50, up 12.00% on 273,606 shares since the close.

ALL PRICE/VOLUME SNAPSHOTS AS OF 5:27 PM EST

You can join our open email distribution list from 24/7 Wall Street to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.

JON C. OGG
OCTOBER 22, 2009

Broadcom Put Options Elevated Activity (BRCM)

247admin — Tue, 11 Aug 2009 20:34:33 +0000

Nothing looked that unusual today in shares of Broadcom Corp. (NASDAQ: BRCM). At least not until we did an end of day screening. The September PUT options were very active with over 20,000 contracts trading for that put options that expire on Sept. 18. That is over 3-times normal volume and over 19,000 came from these four contracts. These four had only about 9,000 contracts listed as the open interest before today:

Strike Contracts
$25.00 5,164
$26.00 892
$27.00 9,030
$28.00 4,209

For August PUTS, we saw in the $26.00 Strike prices some 3,127 contracts trade versus an open interest of 8,440 contracts.

Interestingly, the stock was low interest and light trading today. Shares closed down 2% at $26.63 and the volume was 8.9 million vs. 9.8 million shares on average.

JON C. OGG

Pre-market Alert: Emulex Corp. (ELX)

247admin — Tue, 30 Jun 2009 11:52:26 +0000

Emulex Corp. (NYSE: ELX) shares are up more than 2 percent in premarket trading, and are showing some early trading volume. The company’s board said late Monday that it will review the terms of a revised offer from Broadcom Corp. (Nasdaq: BRCM) to buy the company for $11 a share in cash. The stock is now trading slightly above $11 a share, showing that some traders may be speculating about the possibility of an even higher bid. — Mike Tarsala

Pre-Market Price/Volume Alert: Nokia, Ericsson, Qualcomm (NOK, ERIC, QCOM, BRCM, TXN)

247admin — Fri, 14 Nov 2008 14:37:28 +0000

Nokia (NYSE: NOK) has issued another warning on its sales due to the weak consumer, buying of cheaper phones, holding phones longer and more….. Nokia shares are down 12% at $12.37 pre-market, down from ayearly high of about $40.00. If this price holds it will mark a 52-week low. We have already seen over 2.8 million shares trade as of 8:35 AM EST.

LM Ericsson Telephone (NASDAQ: ERIC) is also getting spanked along with Nokia. We have seen over 650,000 shares trade and the stock is down 9% at $6.48. Its 52-week low is $6.05.

QUALCOMM (NASDAQ: QCOM) is also down in sympathy. Shares are down almost 4% at $33.50, but the trading volume is rather thin.

Broadcom (NASDAQ: BRCM) and Texas Instruments (NYSE: TXN) also make chipsets and more for inside of the phones. Broadcom is down 2.5% at $15.93 and TI is indicated lower but has not traded.

JON OGG

NOV. 14, 2008 (8:35 AM EST)

Chips Under Pressure Over Downgrades (MRVL, BRCM, IDTI)

247admin — Tue, 26 Aug 2008 12:42:53 +0000

We are seeing some select chip stock downgrades affecting shares negatively this morning. We have shown the downgrades attached and the pre-market reactions seen so far this morning.

Marvell Technology (MRVL) was cut to Hold from Buy at Jefferies; shares down over 4% at $14.90 on more than 300,000 shares.
Broadcom (BRCM) was cut to Perform from Outperform at Oppenheimer; shares down 1.9% at $25.67 on volume of only about 8,400 shares.
Integrated Device Tech (IDTI) was cut to Perform from outperform at Oppenheimer; shares down 2.6% atr $10.76 on very thin volume.

8:44 AM EST

JON OGG
August 26, 2008