SIGM: Expect in-line quarter, but Q2 guidance below Street@CSTI
Collins Stewart expects SIGM to report Q1 results in-line with their and the Street’s 39c/$60.6M estimates when the company reports on May 29. Collins is seeing a slower ramp at AT&T (T) on the U-Verse and slower than expected Blu Ray sell-through. As a result, they believe SIGM will guide July quarter revenues in-line with their estimates, but lower than consensus of $69M. They rate SIGM a Hold.
STP announces 7GW wafer supply agreement
Suntech announced that a definitive thirteen-year silicon wafer supply agreement has been signed with a subsidiary of Shunda Holdings Co. Ltd. Under the terms of the supply agreement, Shunda will supply Suntech specified annual volumes of silicon wafers with a total volume of approximately 7GW from 2008 to 2020.
STP announces strategic investment in Shunda
Suntech Power Holdings Co., Ltd. announced that it has acquired a minority stake in Shunda Holdings Co. Ltd, a manufacturer of solar wafers based in China, from Actis, a leading private equity investor in emerging markets, and Waichun Investment Fund, for a total consideration of $98.9 million.
RIGL: Pullback provides good buying opportunity@OPCO
Oppenheimer’s checks lead them to believe that Rigel will announce that its R788 showed signs of activity in fighting lymphoma during a Phase I/II trial. Rigel is scheduled to present interim data from the trial on June 5, and Oppenheimer maintained their Outperform rating.
Apple may begin subsidizing the iPhone to keep sales momentum-AppleInsider
French iPhone users have been reportedly contacted by Orange regarding discounts for the next-gen Apple (AAPL) iPhone. Readers of French technology site PCInpact, say that they have been offered a direct swap or deep discounting which is significant since it represents the first instance of a subsidy for the new phone.
Chipotle Mexican Grill-CMG.B initiated with an Overweight@JPMS
JP Morgan initiated the Class B shares of Chipotle with an Overweight as they believe the recent pullback provides a compelling entry point.
Greenspan still sees good chance for a recession-FT
The chances of a recession hitting the U.S. are still over 50%, Alan Greenspan said. However, the likelihood of a recession has dropped, and the chances of a severe recession battering the U.S. have fallen significantly, Greenspan added.
ASTI initiated with an Outperform@COWN
Cowen said ASTI’s unique thin-film solar technology is well suited for integrated applications.
Auction rate securities problems affect many companies-WSJ
Over 400 companies hold a minimum of $30B in auction rate securities, according to the Wall Street Journal’s look at first quarter earnings reports. The once reliable instruments have proven to be a major headache. Mark-downs are common but for companies that haven’t, accounting problems are mounting. “It hampers your financial flexibility,” says Gregory Fraser at Moody’s.
Data suggests Apple may be preparing to launch 3G iPhone soon-ImportGenius
Apple (AAPL) has been using a new type of shipping container, and an analysis of U.S. shipping records shows that the company’s imports have risen, sparked by a new type of product.
