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Rambus Inc. (NASDAQ:RMBS) shares jump following JPMorgan’s upgrade to Overweight, as it’s thought that Monday’s slump (due in part to a BWS downgrade) to a 41 percent year-to-date slide represents the bottom, and investors are thus protected from more drops. Further, JPM opines that a stock price of $4 to $4.50 is justifiable merely by the value of Rambus’ contracted license revenue and cash.
Affymax, Inc. (NASDAQ:AFFY) and Takeda Pharmaceutical Company Limited reported that their OMONTYS Injection will now be available only for use in the treatment of anemia caused by chronic kidney disease in adult patients on dialysis. The med is the sole once-monthly erythropoiesis-stimulating agent for anemia that is available to dialysis patients in the United States.
ARM Holdings plc’s (NASDAQ:ARMH) first quarter shipment figures of ARM-based chips for mobile devices were flat year-to-year after rising 10 percent in its fourth quarter. Shipments of its other products increased by only 15 percent in the first quarter, compared to 40 percent in the previous quarter. These numbers are driving worries that the second quarter royalty revenue will also be unimpressive, and could be a somewhat troubling omen for the chip industry at large. On the upside, license revenues remain positive, up 20 percent year-to-year, and the company forecasts an in-line 2012 revenue.
Wal-Mart Stores Inc. (NYSE:WMT) gets a break, as the Mexican government says that it won’t investigate Wal-Mart de Mexico SAB (NYSE:WMT) concerning allegations that the company paid bribes in Mexico to expedite permits for new store openings, according to the Wall Street Journal.
GM (NYSE:GM) CEO Dan Akerson tells the Wall Street Journal that he will stay in that position until “the board has had enough of me,” and that he wants his successor to come up from within the company.
Adobe Systems (NASDAQ:ADBE) is said by the Wall Street Journal to be representing itself anew, as a one-stop technology shop for marketing departments.
Apple (NASDAQ:AAPL) direct investment is banned to the citizens of Beijing, but Reuters reports that they are getting a piece of the pie via shares of the company’s suppliers. Here’s What to Expect From Apple Earnings>>
Nestle (NSRGY) is said by Bloomberg sources to be considering the divestiture of up to $1.8 billion of the infant nutrition assets it is acquiring from Pfizer (NYSE:PFE), due to worries in some countries regarding monopoly, that can force such sales later.
Vivendi’s (VIVHY) Universal Music Group’ music publishing catalogues are attracting interest from such companies as Providence Equity Partners and Bertelsmann AG, according to Bloomberg sources.
Netflix, Inc. (NASDAQ:NFLX) CEO Reed Hastings’ letter to investors suggests that Comcast (NASDAQ:CMCSA) is guilty of unfair competition in the streaming-video space, according to a CNet report. THe CEO goes on to remark that Comcast was providing its Xfinity Web-video service as a competitive advantage that is “not offered to Netflix or other competitors…That is not neutral in any sense.”
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