Microsoft Slides on Disappointing Q2 Results and 2 Other Hot Stocks to Watch
Microsoft Corp. (NASDAQ:MSFT): Current price $31.61
Microsoft shares are down about 9.5 percent in late morning trade, following the release of lower-than-anticipated second quarter figures that were blamed on weak demand for PCs and sales of the company’s Surface tablets. Weak sales of the tablets were impacted by a $900-million write down after it slashed prices. Both Raymond James and Cowen & Co. lowered their ratings on the shares by a gradation to Market Perform, and at least five others tweaked their price targets by as much as $3. Analyst David Hilal at FBR Capital Markets remarked that Microsoft’s revenue from Windows in the fourth quarter was 9 percent below what he had expected.
Skyworks Solutions Inc. (NASDAQ:SWKS): Current price $23.99
Skyworks has predicted third quarter revenue will surpass analysts’ expectations, while it boosts sales of analog chips to smartphone makers, and gains new business in a number of high-margin industries. The company estimates adjusted earnings of 62 cents in the third quarter on revenue of $475 million, against a consensus of 60 cents per share on revenue of $470.1 million, said Thomson Reuters I/B/E/S. A rush for mobile devices like smartphones and tablets has pushed strong sales of the radio frequency chips made by Skyworks, for customers such as Apple Inc. and Samsung Electronics Co.
Celsion Corporation (NASDAQ:CLSN): Current price $1.45
Celsion and the Chinese pharmaceutical company Zhejiang Hisun Pharmaceutical Company Ltd. announced Friday that they have reached a “memorandum of understanding” to pursue current collaborations for the continued clinical development of ThermoDox, along with the tech transfer connected to the commercial manufacture of ThermoDox for the greater China region. In June of last year, the parties signed a long-term commercial supply accord for the production of ThermoDox, which is Celsion’s proprietary heat-activated liposomal encapsulation of doxorubicin. Hisun ranks as one of the biggest makers of chemotherapy agents worldwide, which includes doxorubicin.
Don’t Miss: Microsoft’s Surface Stomps on 4Q Earnings.