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New Oriental Education & Tech Grp (NYSE:EDU): According to Wells Fargo, its talks with competitors indicate that the company is being honest with its denial of Muddy Waters’ allegations. The firm states that none of New Oriental Education’s competitors were aware of any historical franchising, which would be difficult to hide anyway due to the intense competition and constant employee movement between competitors. The firm keeps an Outperform rating on the stock.
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eBay Inc’s (NASDAQ:EBAY) modest Q2 beat and in-line with guidance was enough to propel eBay (EBAY +8.5%) to 6-year highs. The performance of PayPal is in focus, and so is the growing mobile presence of eBay: The company believes that both PayPal and Marketplaces should handle $10 billion in mobile transactions within the year, which exceeds estimates of $7 billion and $8 billion. Neeham finds eBay’s increasing margins and strong merchandising volumes pleasing, and believes guidance may be conservative. AMZN +3.1%. OSTK +2.3%. MELI +1.5%.
Intel Corporation (NASDAQ:INTC) is scheduled to launch its next-gen Haswell CPUs in April 2013. Like the recent Ivy Bridge, Haswell will use a 22nm manufacturing process, but intends to make large power consumption and integration improvements. This should assist Intel in improving competition with ARM-based (NASDAQ:ARMH) CPUs in the Windows and Android tablet markets-Arm solutions uses less power than Ivy Bridged, and are used in thinner/lighter tablets.
Juniper Networks, Inc. (NYSE:JNPR): So far the theme to Q2 tech earnings is that so far, so “good enough.” A number of large-caps have rallied on mediocre results, beaten-down telecom equipment and optical component names rally on Verizon’s guidance for “flat to down” 2012 capex, a few feared that there would be worse guidance due to recent warnings. CIEN +5%. ALU +6.9%. JDSU +2%. FNSR +3%. JNPR +2.8%. Nomura views Verizon’s comments concerning 40G/100G optical investments as positive for both Juniper and Ciena.
QUALCOMM, Inc.’s (NASDAQ:QCOM) fundamentals case is still strong although the company showed weak results and guidance for Q3/ The firm reduced its price target for shares from $75 to $70, but still anticipates a strong Q4 as it keeps its Buy rating on the stock.
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