iRobot, Akamai, Teradata, Bunge Shares Active Among Traders Feb 9th
iRobot Corporation (NASDAQ:IRBT): Robot maker iRobot eported Q4 EPS of 38c, compared with analysts’ consensus estimate of 32c. However, the company’s revenue came in lower than expected. Moreover, iRobot provided Q1 EPS guidance of (8c)-0c, versus the consensus estimate of 30c. The robot maker provided FY12 EPS guidance of 75c-95c, versus the consensus of $1.45. “As we look at 2012, we feel very good about the growth opportunity for our home robot business in 2012 and beyond,” said iRobot CEO Colin Angle. “However, we expect a decline in top and bottom line in our (government and industrial) division this year due to our current limited visibility in our defense business.,” Angle added. In a note to investors, JP Morgan responded to iRobot’s weaker than expected results by downgrading the stock to Underweight from Neutral. The firm lowered its target on the shares to $30 from $37.50. In early trading, iRobot plunged $11.51, or 30.05%, to $26.78. Shares of iRobot Corporation are trading 31.04% lower today.
Akamai Technologies, Inc. (NASDAQ:AKAM): Last night, Akamai (NASDAQ:AKAM) reported positive Q4 results. Adjusted EPS came in at 45c, beating consensus estimates of 40c, and revenue of $324M was ahead of the expected $311.26M. The company also named a new CFO, James Benson. Sentiment on the street was unanimously positive this morning, with several firms raising their price targets. Stifel Nicolaus raised its target on the shares to $43 from $32, while CLSA raised their target to $44 from $37. Both firms cited stronger than expected Q4 results and positive Q1 revenue guidance. Each has a Buy rating on the shares. Shares of Akamai Technologies, Inc. are trading 10.95% higher today.
Teradata Corporation (NYSE:TDC): Teradata’s board of directors has approved a new authorization to repurchase a total of $300M of the company’s shares under its general open market share repurchase program. The program has been extended for an additional three-year period now expiring in February 2015. As of January 31, the company had purchased a total of 18.2 million shares of its common stock investing approximately $475M of the $550M that was previously authorized under this program. Shares of Teradata Corporation are trading 7.53% higher today.
Bunge Limited (NYSE:BG): The Department of Agriculture lowered its projection for U.S. feed grain ending stocks for 2011/12, citing corn and oats imports being more than offset by higher expected corn exports. Corn ending stocks projections were dropped 45M bushels, to 801M. Season average farm corn price forecast was narrowed 10c on both ends of the range, to $5.80-$6.60 per bushel. Global coarse grain supplies for 2011/12 are projected 3.1M tons lower, on reduced corn production from Argentina and Paraguay. Shares of Bunge Limited are trading 2.66% higher today.
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