Technology Sector Review: Top Mobile Phones, AVG Technologies’ IPO

JDS Uniphase Corporation (NASDAQ:JDSU): Optical products maker JDS Uniphase (NASDAQ:JDSU) reported Q2 EPS of 15c, compared with analysts’ consensus estimate of 10c. The company’s revenue was also higher than expected. However, JDS Uniphase’s gross margin dropped to 46.8% from 47.3% in the prior quarter and 48.8% in the same period one year earlier. The company provided Q3 revenue guidance of $410M-$425M, versus the consensus of $418M. In a note to investors, Morgan Stanley said that the company predicted that its prices would decline 6% during the current quarter, compared with Q2. Prices typically drop just 2%-4% during the current quarter, the firm added. The greater than expected price declines will also hurt two of JDS Uniphase’s competitors, Finisar and Oclaro, added Morgan Stanley, which maintains an Equal Weight rating on JDS Uniphase, an Overweight rating on Finisar, and an Underweight rating on Oclaro. In late morning trading, JDS Uniphase dropped 87c, or 6.63% to $12.26, while Finisar sank 96c, or 4.59%, to $19.97 and Oclaro added 0.22% to $4.50.

The shares closed at $12.19, down $0.94, or 7.16%, on the day. Its market capitalization is $2.79 billion.

QUALCOMM, Inc. (NASDAQ:QCOM)¬†announced that the company, working with Ericsson (NASDAQ:ERIC), has successfully completed the first voice call handover from an LTE mobile network to a WCDMA network using Single Radio Voice Call Continuity, or SRVCC. An important technology required for voice-over-LTE, or VoLTE, support, SRVCC is a 3GPP specified feature that enables continuity of service by seamlessly switching to a WCDMA network when a consumer on a VoLTE call leaves the LTE network’s coverage area. This milestone occurred on Dec. 23, 2011 with an Ericsson network using a handset which incorporated Qualcomm’s Snapdragon S4 MSM8960 3G/LTE multimode processor. A demonstration will be available at Qualcomm’s booth at Mobile World Congress in Barcelona, Spain Feb. 27 March 1.

The shares closed at $60.73, up $1.17, or 1.96%, on the day. Its market capitalization is $102.72 billion.

Intel Corporation (NASDAQ:INTC): Antivirus software maker AVG Technologies priced its IPO yesterday at $16, at the bottom of the expected price range, according to The New York Times. The company’s underwriters sold 8M shares, and Intel’s (NASDAQ:INTC) venture capital fund is one of the company’s controlling shareholders, the publication added.

The shares closed at $26.49, down $0.06, or 0.23%, on the day. Its market capitalization is $134.89 billion.

Oracle Corporation (NASDAQ:ORCL) Facebook’s (FB) IPO may value CEO Mark Zuckerberg’s stake at $28.4B, putting him ahead of Google’s (NASDAQ:GOOG) co-founders and near Larry Ellison, who started Oracle (NASDAQ:ORCL), reports Bloomberg.

The shares closed at $28.81, down $0.07, or 0.24%, on the day. Its market capitalization is $144.79 billion.

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