Wednesday, March 21, 2007
Position Updates: BWLD, LNN, ADBE, MVIS
Via Briefing:
We may have an "Asshat Award" winner:
We may have an "Asshat Award" winner:
^^Funny.
Downgrades: Jefferies downgrades Buffalo Wild Wings (BWLD 60.05) to Hold from Buy and maintain their $67 tgt, based on valuation.
| 08:03 | LNN Lindsay Manu reports Q2 (33.80 ) |
| Reports EPS of $0.21, includes acquisitions, may not be comparable to $0.29 two analyst estimate; reports revs up 16% yr/yr to $63.7 mln vs $61.18 two analyst estimate. Co says, "Our focus on improving irrigation margins has favorably impacted results in the period and we remain focused on operational efficiency as we implement lean manufacturing techniques in our factories. We continue to execute our balanced approach to creating shareholder value through organic growth opportunities, accretive acquisitions, share repurchases, and dividend payments." |
| 07:32 | ADBE Adobe Systems: Color on quarter (40.74 ) |
| W.R. Hambrecht notes ADBE reported somewhat mixed 1Q07 results. Total revs of $649.4 mln were below Street expectations of $655 mln, but EPS of $0.30 was a penny ahead of consensus. They were not completely surprised to see rev come in below expectations, given the impending expected launch of CS3 in 2Q07. Looking forward to 2Q07, and into FY07 mgmt provided guidance that was essentially in line with consensus expectations, and also reiterated its expectation of 15% Y/Y growth for FY07. Firm maintains their rev est of $3 bln, but are slightly raising their EPS est to $1.52 (vs. $1.46 previously). Firm raises their tgt to $46 from $44... Jefferies says ADBE got through the toughest quarter in FY07 with flying colors and appears set to enjoy accelerating growth due to the CS3 product cycle and the growing importance of other areas (such as Mobile and Rich Internet Application development). Firm notes the co achieved in-line rev of $649 mln, -1% Y/Y, and EPS of $0.30, a penny ahead of firm's and consensus forecasts. They recommend investors Buy ADBE, as they believe they are entering a period of upward EPS revisions, based on the CS3 product cycle. |
Filings: Microvision (MVIS) files for a $35 mln mixed shelf offering, also files for a 13.43 mln share common stock offering by selling shareholders.More on this^ later.
Comments:
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Nothing new on the MVIS front with the warrants right? Same stuff we already knew. BWLD is totally the wrong call as I would buy shares up to $63-$65. This coming quarter should be very good.
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