Apple Investors EDGY and 3 Weekend Stock Stories in Focus
Apple’s (NASDAQ:AAPL) Tuesday fiscal third quarter report has Bernstein and FBR worried that the company might miss estimates and post a weak fourth fiscal quarter guidance, but they remain confident of a huge fiscal first quarter. But back to the third quarter: Bernstein believes that macro problems in China and Europe, the delayed launch of a MacBook refresh, plus the failure of the new iPad to intro in China until Friday will, when taken together, cause a miss. On the upside, several tech large-caps have rebounded this week following the posting mediocre results, as might Apple should the worst happen.
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Eloqua Corp. (ELOQ), which supplies cloud marketing software, intends to sell 8 million shares at between $9.50 and $11.50 in its upcoming initial public offering, which would imply a market cap of $288 million to $352 million The firm posted revenue of $45 million, which represents a year-over-year increase of 42 percent over the first 6 months of the year, but a net loss of $5.5 million. However, Eloqua boasts Adobe, Cisco, and Dell among its 1,000-plus customers, and it might be that this is the time to go public, measured by the recent performance of Palo Alto Networks and other enterprise technology names.
Ivanhoe Mines, Ltd. (NYSE:IVN) shares fell to $8.40 following the completion of a previously-announced $1.8 billion rights offering, to finance its Oyu Tolgoi copper/gold project. The firm issued 260 million shares in the offering, which represents a price of $6.92. As was anticipated, the 51 percent owner Rio Tinto (NYSE:RIO) bought as many shares as the law allowed.
The Goodrich Corporation (NYSE:GR) will launch an expanded high technology manufacturing facility in Burnsville, Minnesota, as part of its Sensors and Integrated Systems division, which employs approximately 4,200 persons in high tech roles globally.