Orlando, FL -- (SBWIRE) -- 08/22/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On BlackBerry Ltd (NASDAQ:BBRY), Himax Technologies, Inc. (ADR) (NASDAQ:HIMX)
Jefferies analyst Peter Misek, along with Jason North and Billy Kim have slashed target price of BlackBerry Ltd(NASDAQ:BBRY) shares by $3, to $15.
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Misek and his team have written that builds were cut from more than two million a month to one million a month ago, but have been lowered by at least another 10%, according to Jeffries’ checks. They have therefore decreased their fiscal 2015 revenue forecast to $9.7 billion which is below the consensus Street estimate of $10.8 billion.
They however have maintained a Buy rating on the stock.
BlackBerry had announced last week that it had formed a committee to “explore strategic alternatives,” including a sale or joint venture.
On a note on smartphone trends of various companies, Raymond James has written that “quantifiable success remains limited” for the company’s new models, and the “ BB10 was perhaps the last bullet in the chamber.”
Meanwhile, Taiwanese company, Himax Technologies, Inc. (ADR)(NASDAQ:HIMX) has reported its second-quarter results. Net income jumped 29 percent thanks to increase in small and medium-sized panel driver sales.
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While adjusted profit trumped Wall Street estimates, revenue fell short. The company's revenue forecast for the current quarter was not encouraging as well.
Himax earned a profit of $19.4 million, or 11 cents per share, for the period ended June 30. That is comparable with $15.1 million, or 9 cents per share, last year.
Earnings on an adjusted basis were 12 cents per share.
Analysts, on average, expected earnings of 11 cents per share, according to a FactSet poll.
Revenue jumped 9 percent to $207 million from $189.5 million. The Street had forecast $208.6 million.
The company sees adjusted earnings between 10 and 12 cents per share in the third quarter. Revenue is expected to take a hit between 5 percent and 12 percent or approximately between$182 million to $197 million.
Analysts are modeling earnings of 9 cents per share on revenue of $218.8 million.
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