Notable Losers: Frontline Ltd., AVG Technologies NV, Elan Corporation, plc, Skyworks Solutions Inc

Lakeway, TX -- (SBWIRE) -- 02/22/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Frontline Ltd. (NYSE:FRO) stock dropped 8.28% to $2.66. The company today reports a net loss of $16.6 million for the fourth quarter of 2012, equivalent to a loss per share of $0.21, as compared with a net loss of $49.0 million and a loss per share of $0.63 for the preceding quarter. As of December 31, 2012, the Company had total cash and cash equivalents of $137.6 million and restricted cash of $87.5 million. Restricted cash includes $86.3 million relating to deposits in ITCL.

Is FRO after A Solid Pop Up? Find Out Here

AVG Technologies NV (NYSE:AVG) shares climbed 11.42% to $14.63 in the early hour after the company yesterday eleased its earnings data yesterday. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. The company had revenue of $95.21 million for the quarter, compared to the consensus estimate of $96.43 million.

Looking forward, the company announced that for fiscal 2013, it expects revenue to be in the range of $408 million to $420 million, net income is expected to be in the range of $70 million to $75 million and diluted EPS is expected to be in the range of $1.24 to $1.33 and Non-GAAP adjusted net income is expected to be in the range of $95 million to $105 million; non-GAAP diluted EPS is expected to be in the range of $1.68 to $1.88. Analysts were expecting the Company to report revenue of $403 million, net income of $81 million and EPS of $1.44 for fiscal 2013.

Will AVG Continue To Trend Higher After The Recent Gain? Find Out Here

Elan Corporation, plc (ADR) (NYSE:ELN) shares jumped 3.30% to $10.63 in the morning hour. The company, on Feb. 6, announced that it has agreed to restructure the Tysabri collaboration with Biogen Idec. Under the terms of the agreement, Elan will move from the current 50:50 business collaboration to an upfront payment of $3.25 billion and a double digit tiered royalty structure for the complete asset. Highlights of Transaction Upon Closing: Up front cash payment of $3.25 billion to Elan First 12 months: royalty of 12% of Tysabri global net sales (all indications) Tiered royalty structure after 12 months 18% on up to $2 billion of global net sales (all indications) 25% on over $2 billion of global net sales (all indications) Biogen Idec will have full ownership and control of Tysabri Current 50:50 collaboration will terminate Provides tax efficient capital and long term cash flow to Elan.

Is ELN a Buy Opportunity After The Recent Slump? Find Out Here

Skyworks Solutions Inc (NASDAQ:SWKS) shares increased 4.11% to $22.03 after Stephens upgraded shares of Skyworks from an equal weight rating to an overweight rating in a report released today.

Additionally, the company, on Jan. 30, announced that for the second quarter of 2013, it expects revenue to be up 15% year-over-year with better than normal seasonality to approximately $420 million with non-GAAP diluted earnings per share (EPS) of $0.47. Analysts are expecting the Company to report revenues of $416 million and EPS of $0.46 for the second quarter of 2013.

Is SWKS Still a Buy After The Recent momentum? Find Out Here

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