Sierra Wireless (SWIR) 9.76 -4.74 (-32.7%)
Wireless solutions provider misses on the top and bottom line in its Q4 (Dec) report; Company goes on to issue a huge warning for Q1 (Mar) - saying it sees a loss of ($0.35)-($0.38) on sales of $18-20 mln, as compared to market expectations of $0.20 and $53.9 mln, respectively; Management blamed two forces (1) lower sales from embedded modules that would not include further shipments to palmOne, and (2) demand for PC cards that is softening; Competitor NVTL has plunged 13% tonight
VeriSign (VRSN) 25.90 -3.38 (-11.5%)
Provider of digital commerce beats the Reuters Estimates Q4 (Dec) EPS and sales consensus figures; Guidance, though, proved to be a disappointment; On its call, management said that it would raise its FY05 revenue numbers, but when it did, the range came in in line with expectations; VeriSign guided FY05 sales to $1.5-1.55 bln (consensus of $1.50 bln) and EPS to $0.90 (consensus of $0.90); After bidding the stock higher earlier on the call in anticipation of upside, traders have responded by sending it markedly lower
Chiron (CHIR) 32.64 -1.30 (-3.8%)
Vaccine-centric biotech reports a Q4 (Dec) loss of $0.04 on revenues that fell 23%to $428.6 mln; Both results were way below Reuters Estimates consensus figures; Analysts had factored in the loss of the company's flu vaccine license into estimates, however, the impact was apparently greater than Wall Street expected; Management said it was still unclear if it would regain the license in time for the 2005-2006 season - British regulators are still inspecting the main plant in Liverpool, England, where Chiron failed inspection before
Integrated Device (IDTI) 10.43 -0.41 (-3.8%)
Communications IC company delivers Q3 (Dec) EPS of $0.06, which was $0.03 better than the Street's estimate; however, revenues fell short of consensus expectations; Sales rose 10% to $95.7 mln (consensus of $96.3 mln); Management noted that the quarter was 'difficult' and cited 'customer inventory issues' and 'the softness in the wireless infrastructure market;' The company added that it started a restructuring program to save approximately $5-6 mln per quarter
Starbucks (SBUX) 54.08 -1.26 (-2.3%)
Coffee giant shows slight upside to the Q1 (Dec) EPS and revenues consensus estimates, showing EPS growth of 30% to $0.35 and sales growth of 24% to $1.59 bln; Company credited the strong performance of its holiday blends and gift offerings; Management guided Q2 (Mar), Q3 (June), Q4 (Sept), and FY05 EPS roughly in line with analyst estimates; Stock has weakened tonight in an extension of its fall since late Dec on valuation concerns (SBUX trades at 45x forward earnings); SBUX now trades below its 50 and 200-day moving averages