|By PR Newswire||
|July 5, 2013 09:30 AM EDT||
CHICAGO, July 5, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include SanDisk Corp. (Nasdaq:SNDK-Free Report), Apple Inc. (Nasdaq:AAPL-Free Report), Western Digital Corp. (Nasdaq:WDC-Free Report), Seagate Technology plc (Nasdaq:STX-Free Report) and Tetra Tech Inc. (Nasdaq:TTEK-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Wednesday's Analyst Blog:
SanDisk Gets SMART, Boosts SSD Portfolio
Flash memory storage vendor SanDisk Corp. (Nasdaq:SNDK-Free Report) recently acquired SMART Storage Systems, a bellwether solid state drive (SSD) storage solutions provider. The purchase consideration includes $307.0 million cash and certain equity-based incentives for SMART Storage Systems' employees. The acquisition will allow SanDisk to strengthen its position in the enterprise market for SSD storage.
SMART Storage specializes in providing SATA and SAS-based SSDs, which are supplied to tier 1 storage and server OEMs (original equipment manufacturer). Leveraging Smart Storage's capabilities and intellectual properties, SanDisk will be able to enhance its existing enterprise SSD and software portfolio, gain economies of scale and increase share in the potential $1.6 billion enterprise SATA and SAS space. SanDisk will be retaining the company's 250 employees.
The deal has already been approved by the boards of directors of both companies and is expected to close by August, pending certain customary and regulatory approvals. SanDisk expects the deal to be slightly dilutive to earnings in second half of 2013, before becoming accretive in 2014.
Earlier, SanDisk acquired flash memory software solutions provider, FlashSoft Corp. in Feb 2012 and enterprise SSD solutions provider Pliant Technology in May 2011.
At its recent analyst day (May 2013), SanDisk announced that it expects contribution from the SSD business to grow to roughly 35.0% by 2016. The company expects that 2 out of 3 notebooks will be enabled by flash in 2016, up from 1 out of 8 notebooks in 2012.
We believe that the synergies from the acquisition will help SanDisk to emerge as a major player in the fast growing flash memory market, thus lending greater stability to its revenue stream.
Restricted wafer capacity addition will boost better supply/demand metrics as well as pricing in 2013. Apart from this, we are positive on SanDisk's focus on mobile-embedded products (as several new smartphones and tablets, Ultrabooks and other end-client PCs running on SSDs are slated for launch) and a long-term supply agreement with Apple Inc. (Nasdaq:AAPL-Free Report).
But lackluster PC sales, European issues, stiff competition from Western Digital Corp. (Nasdaq:WDC-Free Report) and Seagate Technology plc (Nasdaq:STX-Free Report) (in SSD space) and currency fluctuations are concerns.
Currently, SanDisk holds a Zacks Rank #3 (Hold).
Tetra Tech Downgraded to Strong Sell
Zacks Investment Research downgraded Tetra Tech Inc. (Nasdaq:TTEK-Free Report) to a Zacks Rank #5 (Strong Sell). Tetra Tech is a technical service provider for water and environmental purifications, pollution control and other related fields.
Why the Downgrade?
On Jun 18, Tetra Tech lowered its financial guidance for the third quarter of fiscal 2013, which resulted in a downward revision in earnings estimate in the last 7 days. The Zacks Consensus Estimate for 2013 has gone down by a whopping 44.85% over the last 30 days to 91 from the earlier estimate of $1.65, while for 2014, the estimate decreased by 8.37% to $1.86.
According to the company, the lowered guidance to a loss of 30 cents to 50 cents per share from an earlier guidance of 32 cents to 42 cents earnings per share brought about the impacts of increased restructuring costs from weakness in Eastern Canada and mining. However, this necessitated investigation into possible breaches of fiduciary duty by the company. Different law offices have got engaged in this investigation. With this a number of lawsuits have been filed in the United States District Court against the company and Shareholders Alert has been declared. This had a further adverse effect on the stock.
The company delivered negative earnings surprises in three out of the last four quarters with an average negative surprise of 1.59% for the last four quarters. Also, the company's earnings estimate for the current quarter is a loss of 41 cents per share. Shares of Tetra Tech also attained a 52-week low on Jun 19 of $22.56. Moreover, most of the analysts have downgraded their estimates during the last 30 days and thus the stock experienced a sharp dip in its Zacks Rank straight from a Zacks Rank #3(Hold) to a Zacks Rank #5(Strong Sell).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
SOURCE Zacks Investment Research, Inc.
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Feb. 27, 2017 06:15 PM EST Reads: 350
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Feb. 27, 2017 06:15 PM EST Reads: 8,270
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Feb. 27, 2017 05:45 PM EST Reads: 544
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Feb. 27, 2017 05:30 PM EST Reads: 526
Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said "No to LUNs." With Tintri they manage only virtual machines, in a fraction of the footprint and at far lower cost than conventional storage. Tintri offers the choice of all-flash or hybrid-flash platform, converged or stand-alone structure and any hypervisor. Rather than obsess with storage, leaders focus on the business app...
Feb. 27, 2017 05:30 PM EST Reads: 362
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Jared Parker, Director of Financial Services at Kinetica, will discuss how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich inf...
Feb. 27, 2017 05:15 PM EST Reads: 1,677
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Feb. 27, 2017 05:15 PM EST Reads: 683
Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infrastructure through automation. Ayehu solutions have been deployed by major enterprises worldwide, and currently, support thousands of IT processes across the globe. The company has offices in New York, California, and Isr...
Feb. 27, 2017 05:15 PM EST Reads: 613
LogMeIn has completed its previously disclosed merger with Citrix Systems, Inc.’s GetGo, Inc. subsidiary, a wholly owned subsidiary consisting of Citrix’s GoTo family of service offerings. The merger officially closed after market hours on January 31, 2017. Effected through a Reverse Morris Trust transaction, the merger brings together two of the preeminent players in cloud connectivity to instantly create one of the world’s top 10 public SaaS companies, and a market leader with the scale, resou...
Feb. 27, 2017 05:00 PM EST Reads: 364
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of patie...
Feb. 27, 2017 04:45 PM EST Reads: 1,446
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Feb. 27, 2017 04:45 PM EST Reads: 1,780
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Feb. 27, 2017 03:30 PM EST Reads: 2,290
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Feb. 27, 2017 02:45 PM EST Reads: 2,608
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
Feb. 27, 2017 02:30 PM EST Reads: 1,950
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 27, 2017 02:30 PM EST Reads: 2,321