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Shares of Computer Sciences (NYSE:CSC) move down as a forecast for its fiscal fourth quarter revenue of $4.1 billion and earnings per share of $0.19 to $0.21 disappoints investors. Revenue is approximately equivalent to the $4.11 billion consensus, but earnings sink far below its $0.97 Street projection, for which the still-unsettled services deal with the U.K.’s National Health Service is given the blame. However, CSC’s free cash flow is expected to amount to between $225 million and $275 million, and its new business awards $6 billion.
Four firms begin coverage on Yelp (NASDAQ:YELP) with neutral stances, although shares are mostly unaffected by the ratings. The company’s high valuation is the constant criterion for Citi, Oppenheimer, Goldman, and Jefferies, which give Yelp kudos for its dominant position in the local reviews market, and giant advertiser base.
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In a negative twist to Wednesday’s hubbub over a possible sale of Travelzoo (NASDAQ:TZOO), Benchmark’s Daniel Kurnos doubts out loud the idea that a public equity firm wouldn’t pay more than $26 a share, and also recommends that investors should sell if shares go above $27. Kurnos’ comments dampened the takeover rumors at midday.
American Superconductor (NASDAQ:AMSC) shares get a break from Maxim Group, and pop on Wednesday. Reasons given for the analyst’s optimism include its expectation that the unpredictable voltage changes produced by wind and solar plants will boost demand for AMSC’s grid-management solutions, and also that the company’s lawsuit against ex-customer Sinovel will soon be settled, which could bring a “surprising lifeline”. Meanwhile, AMSC appealed a dismissal of another of its Sinovel suits to China’s supreme court, some few days ago.
Investing Insights: Facebook IPO Date Looms.
Delaying the release of its fourth quarter results by two and one half weeks, sends LDK Solar (NYSE:LDK) shares up. The firm says that it needs extra time to finalize impairment provisions and certain inventory writedowns, and will post the report on April 30 rather than on the 12th.
The announcement of a solution to low-cost LED streetlighting takes shares of Cree (NASDAQ:CREE) higher for the second straight day. The shares are behaving oppositely from notes from Raymond James which say that investors are overly bearish about the company’s operating leverage, and also doubts that Cree’s gross margin (35.3 percent in its fiscal second quarter), will ever return to the mid-40s. Otherwise, Raymond James expects the firm to post fiscal third quarter results on April 17 that are roughly in-line with guidance.
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