Daily Stock Catalysts: AIG, Caribou Coffee, QLogic
American International Group, Inc. (NYSE:AIG) reveals some details from its first quarter earnings conference call, including the comment that the company will not have to wait until the second half of 2014 to receive cash out of ML3, and predicts cash from ML2 in 2015. Also its Maiden Lane developments, plus paying down its SPV before its due, yields “enormous flexibility we did not think we would have until the middle to the end of next year at the earliest.”
A Closer Look: AIG Earnings: Prepare to Have Your Mind Blown!>>
Caribou Coffee Company, Inc. (NASDAQ:CBOU) shares plunge 17.9 percent in early trading, following the lowered outlook for fiscal year revenue and profit. Slow sales for single cups of coffee are being blamed, plus the revelation that consumers are sticking to their present coffee drinking patterns, which bodes bad for changing products offered by the company.
QLogic Corp. (NASDAQ:QLGC) shares slide after a mixed fiscal fourth quarter statement is released. BMO, which has issued a Market Perform, believes that the quarter report, along with competitor Emulex’s (NYSE:ELX) unimpressive outlook for its quarter ending in June, suggests a disappointingly slow buildup for Intel’s (NASDAQ:INTC) Romley server CPU platform. Previously, several observers believed that the platform would drive a surge in spending for data center IT. Meanwhile, shares of Brocade (NASDAQ:BRCD) might be moving lower in sympathy.
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