Stocks To Watch For May 27
Some of the stocks that may grab investor focus today are:
Marvell Technology Group Ltd (NASDAQ: MRVL) reported its FQ1 net income at $146.9 million, or $0.22 per share, from $205.8 million, or $0.30 per share, in the year-ago period. Its adjusted net income came in at $0.29 per share, excluding items. The company's revenue dropped 6% to $802 million from $856 million. However, analysts were expecting earnings of $0.30 per share on revenue of $826.12 billion. For the current quarter, Marvell Technology projects adjusted net income of $0.37 per share on revenue of 870 million to $910 million. However, analysts expected earnings of $0.33 per share on revenue of $875.5 million. MRVL shares surged 8.86% to $15.85 in after-hours trading.
Blue Coat Systems Inc (NASDAQ: BCSI) reported 62% drop in its fiscal fourth-quarter earnings and issued a disappointing forecast. The company reported its quarterly earnings at $9 million, or $0.18 per share, down from $23.6 million, or $0.49 per share, in the year-ago period. Excluding employee stock compensation and certain other costs, Blue Coat's earnings came in at $0.30 per share. Its revenue dropped 9% to $120.7 million. However, analysts expected earnings of $0.35 per share. Blue Coat projects its current-quarter earnings per share, excluding certain items, of $0.18 to $0.25 on revenue of $110 million to $117 million. However, analysts were expecting earnings of $0.33 per share on revenue of $122 million. BCSI shares dipped 6.80% to $20.84 in the after-hours trading session.
Skyworks Solutions Inc (NASDAQ: SWKS) agreed to buy Advanced Analogic Technologies Inc (NASDAQ: AATI) for $6.13 per share in cash and stock, representing a 57% premium to Advanced Analogic's closing share price on Thursday. SWKS shares gained 0.71% to close at $27.03 yesterday, while AATI shares jumped 52.56% to $5.95 in after-hours trading.
Gordmans Stores Inc (NASDAQ: GMAN) issued downbeat forecast for the second quarter and FY12. The company projects Q2 earnings of $0.10 to 0.11 per share on revenue of $116 million to $117 million. However, analysts expected earnings of $0.20 per share on revenue of $122.3 million. It also lowered its FY12 projections. The company now projects FY12 earnings of $1.18 to 1.23 per share, down from $1.30 to 1.35 per share. It now projects revenue of $553 to 557 million, down from $563 to 571 million. However, analysts expected FY12 earnings of $1.34 per share on revenue of $570.51 million. GMAN shares tumbled 26.08% to $16.27 in after-hours trading.
rue21 Inc (NYSE: RUE) raised its fiscal year earnings forecast to $1.50 to $1.54 per share. However, analysts expected earnings of $1.44 per share. RUE shares surged 15.38% to $33.00 in the after-hours trading session.
