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Seagate Technology (NASDAQ:STX): FBN Securities said that Seagate Technology has lowered their first quarter revenue outlook 5%-7% lower than their prior target of greater than $4 billion. However, after Western Digital’s (NYSE:WDC) guidance, FBN believes the Street expected the reduction, and points out that Seagate is more optimistic than Western Digital about long-term hard disk drive growth. FBN keeps an Outperform rating on Seagate.
QUALCOMM Incorporated (NASDAQ:QCOM): Argus believes that the presence of Qualcomm Incorporated components in Apple’s (NASDAQ:AAPL) iPhone 5 and competing devices will likely enable them to beat the Street’s third quarter earnings per share estimates. The firm maintains a Buy rating on Qualcomm.
OmniVision Technologies Inc. (NASDAQ:OVTI): JPMorgan commented on the Chipworks iPhone 5 teardown report which said, “The back-facing camera is supplied by Sony.” The analyst expected Sony to be the supplier of high resolution sensors in the United States, and believes that OmnVision Technologies Inc., may be a secondary supplier outside of the country. The firm would buy Overweight rated OmniVIsion on weakness.
New Oriental Education & Technology Group (NYSE:EDU): Wells Fargo expects New Oriental Education & Technology Group’s Securities and Exchange (SEC) investigation overhang to be resolved favorably and in a timely manner. Additionally, the firm believes their expected valuation range is $24-$31 and that the current discount is unjustified. Shares are Outperform rated.
Darden Restaurants, Inc. (NYSE:DRI): Citigroup raised Darden Restaurants, Inc.’s price target because it was based on a better than expected first quarter report. Shares are Buy rated.
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