Epic Stock News http://www.epicstocknews.com Your #1 News Source for the Financial Markets Mon, 07 May 2012 09:30:10 +0000 en-US hourly 1 http://wordpress.org/?v=3.4.2 LinkedIn Announces Higher Profit; Plans to Acquire SlideShare – NYSE:LNKD http://www.epicstocknews.com/linkedin-announces-higher-profit-plans-to-acquire-slideshare-%e2%80%93-nyselnkd/ http://www.epicstocknews.com/linkedin-announces-higher-profit-plans-to-acquire-slideshare-%e2%80%93-nyselnkd/#comments Mon, 07 May 2012 09:30:10 +0000 Horatio Alverez http://www.epicstocknews.com/?p=2455 Continue reading ]]> Linkedin Corporation (NYSE:LNKD) released an upbeat quarterly earnings report on Thursday and stated it intends to acquire presentation service SlideShare in a $118.8 million agreement as the online professional networking service continues its growth.

The SlideShare purchase is comprised of almost 45% cash and 55% stock, and is scheduled to complete this quarter, LinkedIn stated. Founded in 2006, SlideShare hosts in excess of seven million presentations and fits LinkedIn’s mission of “making professionals more productive,” executives stated during a conference call.

Revenue has soared at LinkedIn, which sells recruiting tools to businesses and offers premium subscriptions to users keen to network. The firm went public last year, touching off a wave of Internet-related IPOs that comprises peer Facebook Inc., which is likely to complete a public offering of its own afterward this month.

LinkedIn stated that its Q1 profit came in at $5 million, or four cents per share, higher from $2.1 million, or break-even on a per-share basis, in the period a year before. Exclusive of special items, earnings increased to 15 cents per share. Analysts surveyed by Thomson Reuters had anticipated earnings of nine cents per share.

Net revenue in the quarter in excess of doubled to $188.5 million, LinkedIn announced.

Revenue from LinkedIn’s premium subscriptions, which offer additional features, rose 91% to $37.9 million. In the meantime, revenue produced by the company’s recruiting tools sold to businesses more than doubled to $102.6 million.

LinkedIn stated that it has currently attracted 161 million members, as compared with the approximately 150 million declared in the previous period.

Its shares gained 7.21% to close at $117.30 in Friday’s session. LinkedIn went public in May, valued at $45 per share.

 

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GreenCell Names New Chief Financial Officer – OTC:GCLL http://www.epicstocknews.com/greencell-names-new-chief-financial-officer-%e2%80%93-otcgcll/ http://www.epicstocknews.com/greencell-names-new-chief-financial-officer-%e2%80%93-otcgcll/#comments Mon, 07 May 2012 09:27:12 +0000 Greg Alcott http://www.epicstocknews.com/?p=2454 Continue reading ]]> GreenCell Inc. (OTC:GCLL), a company involved in a joint venture with SenCer Inc. to develop, commercialize and market SenCer’s UltraTemp™ ceramic composite materials for Home and Transportation applications, recently, declared the hiring of a new Chief Financial Officer.

GCLL employed Shawn Powell Joseph as its fresh CFO. Powell Joseph is a senior-level accounting and information systems executive, with knowledge in internal controls, inventory control, treasury support, worldwide accounting and worldwide financial reporting standards. She brings to GCCL a solid background in divestures, acquisitions and integration planning.

Powell Joseph formerly served as an auditor for Touch’Ross & Company. She as well worked as a corporate planning analyst for TransOhio Savings Bank.

The hiring of Powell Joseph comes a few days following GCLL declared the development of a number of overseas-based suppliers for its rare earth material demands. GCLL stated that it is developing multiple vendors to make sure price and supplier options for use with its igniter and automotive product applications. In addition, a number of fresh vendors are presently being qualified for approval with help from GCLL’s Joint Venture partner, General Automotive.

Greencell Inc (OTC:GCLL) shares lost -9.09% to close at $0.20 with the total traded volume of 3.12 million shares having the average volume of 0.11 million.

Its shares were trading within the range of $0.15-$0.29 while its opening price was $0.25. Its market capitalization is $6.50 million. Its stock price 52 weeks low was $0.15 and 52 weeks high price was $1.00.

 

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Yippy Commences Trading on OTCQX – PINK:YIPI http://www.epicstocknews.com/yippy-commences-trading-on-otcqx-%e2%80%93-pinkyipi/ http://www.epicstocknews.com/yippy-commences-trading-on-otcqx-%e2%80%93-pinkyipi/#comments Mon, 07 May 2012 09:25:43 +0000 Brian Callom http://www.epicstocknews.com/?p=2456 Continue reading ]]> OTC Markets Group Inc., the firm that operates the world’s biggest electronic marketplace for OTC-traded equities, recently declared that Yippy Inc (PINK:YIPI), a provider of fast, family friendly search engine and educational reference portals, is currently trading on the OTC market’s top tier, OTCQX®.

Yippy started trading recently on the OTC market’s high-status tier, OTCQX US Investors can find existing financial disclosure and Real-Time Level 2 quotes for the firm on www.otcmarkets.com.

R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group, stated that OTCQX provides services to firms which allow them to communicate with and engage their investors, whereas providing them with transparent trading and easy access to firm information. They are delighted to welcome Yippy to OTCQX.

Lucosky Brookman LLP will provide services as Yippy’s Designated Advisor for Disclosure (DAD) on OTCQX, accountable for providing supervision on OTCQX requirements.

Its shares dropped -4.00% to close at $0.480 with the total traded volume of 0.30 million shares having the average volume of 0.03 million.

Its shares were trading within the range of $0.41-$0.54 while its opening price was $0.54. Its market capitalization is $18.26 million. Its stock price 52 weeks low was $0.11 and 52 weeks high price was $0.98.

Yippy, Inc. (OTCQX:YIPI) trades in the United States on OTCQX under the symbol “YIPI”. Based in Fort Myers, Florida, Yippy, Inc. is a new economy technology company that develops search technologies, content aggregation services and application services environments for both consumer and commercial market segments.

The Company operates several online web properties and educational reference portals. Yippy, Inc. started operations in 2009 and focuses on providing family friendly web destinations. For more information please visit www.yippy.com.

 

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Sara Lee Reports Small 3Q Loss Prior To Spinoff – NYSE:SLE http://www.epicstocknews.com/sara-lee-reports-small-3q-loss-prior-to-spinoff-%e2%80%93-nysesle/ http://www.epicstocknews.com/sara-lee-reports-small-3q-loss-prior-to-spinoff-%e2%80%93-nysesle/#comments Fri, 04 May 2012 09:37:56 +0000 Lisa Jimenez http://www.epicstocknews.com/?p=2447 Continue reading ]]> Sara Lee Corp. (NYSE:SLE) posted a small loss for its fiscal Q3 on Thursday, as the packaged food company wrote down one-time costs associated to the intended spinoff of its coffee and tea business.

The maker of Hillshire Farm, Jimmy Dean and Ball Park products stated that its revised income dropped 34%. That fell short of Wall Street forecasts.

Sara Lee intends to split into two units: the international coffee and tea firm and a meats firm. Both will be public firms. CEO Jan Bennink stated the firm is on track to complete the spinoff by June 30.

The firm, headquarters in Downers Grove, Ill., posted a net loss of $2 million, which was breakeven on a per share basis, against a profit of $156 million, or 25 cents a share, a year before.

Its revised net income dropped to $123 million, or 21 cents a share, lower from $185 million, or 30 cents a share, a year before. Analysts polled by FactSet projected revised earnings of 25 cents a share.

Overall net sales increased to $1.9 billion against $1.86 billion, as pricing increases masked flat to lower volume. But operating income declined to $193 million, against $237 million, owing in part to costs in its coffee and tea section associated to the spinoff.

Shares of Sara Lee dropped 12 cents to $22.20 in midday trading after touching a 52-week high of $22.35 on Tuesday. They are almost 40% higher than their low for the previous year of $15.66 per share in early October.

 

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Restructuring Costs Weighs on First Solar Earnings; Swings to Loss – NASDAQ:FSLR http://www.epicstocknews.com/restructuring-costs-weighs-on-first-solar-earnings-swings-to-loss-%e2%80%93-nasdaqfslr/ http://www.epicstocknews.com/restructuring-costs-weighs-on-first-solar-earnings-swings-to-loss-%e2%80%93-nasdaqfslr/#comments Fri, 04 May 2012 09:36:15 +0000 Horatio Alverez http://www.epicstocknews.com/?p=2448 Continue reading ]]> First Solar, Inc. (NASDAQ:FSLR) turned to a Q1 loss as restructuring costs weighed on the US solar-panel maker’s results and as the firm as well appointed a new chief executive.

First Solar hired James Hughes, who stepped in First Solar in March as its chief commercial officer, as its fresh CEO. Hughes formerly served as CEO of energy firm AEI.

In October, First Solar revealed that its chief executive Rob Gillette had left the firm. Chairman Mike Ahearn had served as provisional CEO since Gillette’s exit.

Based on decreases to the firm’s cost structure, First Solar as well upgraded its complete-year outlook to $4 to $4.50 per share, from its previous outlook for earnings of $3.75 to $4.25 per share.

First Solar and its competitors have seen their profits and stock prices drop as a worldwide oversupply of solar panels and damaged demand have driven prices down. The industry miseries have driven many solar firms to file for bankruptcy, among them the high-profile collapse of Solyndra LLC, which received over $500 million in government funding.

First Solar posted a loss of $449.4 million, or $5.20 per share, as compared to a year-ago profit of $116 million, or $1.33 per share. The most recent quarter’s results included $401 million in restructuring-related costs. Exclusive of restructuring-related expenses and other impacts, the most recent quarter’s loss was 8 cents per share.

Net sales dropped 12% to $497.1 million, mainly due to lesser average selling prices and poorer volumes for module-only sales.

Analysts surveyed by Thomson Reuters projected a 59 cent per-share profit and $682 million in sales.

Shares settled at $18.07 Thursday and were halted in extended trade. The stock declined 87% over the previous 12 months.

 

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Pacific City Financial Posts Q1 Financial Highlights – OTC:PFCF http://www.epicstocknews.com/pacific-city-financial-posts-q1-financial-highlights-%e2%80%93-otcpfcf/ http://www.epicstocknews.com/pacific-city-financial-posts-q1-financial-highlights-%e2%80%93-otcpfcf/#comments Fri, 04 May 2012 09:34:59 +0000 Greg Alcott http://www.epicstocknews.com/?p=2446 Continue reading ]]> Pacific City Financial Corporation (OTC:PFCF) recently announced financial results for its 2012 Q1, reporting consolidated net income of $1.8 million and net income available to common shareholders of $1.5 million, on enhancements in asset quality.

Net interest income ahead of provision for loan losses rose to $5.2 million for the Q1 of 2012 as compared to $4.9 million for the Q1 of 2011.

The rise was attributable to the gain of $28.7 million in average earning assets. The loan yield as well enhanced to 5.60% for 2012 as compared to 5.42% for 2011.

The average interest bearing liabilities rose to $392 million for the Q1 of 2012 against $390 million for the Q1 of 2011.

On the other hand, the cost of interest bearing liabilities has dropped 45 bps to 1.13% as compared to 1.58% for the Q1 of 2011 having positive influence on enhancement of net interest margin. As a result, net interest margin rose 11 bps to 3.80% in 2012 as compared to 3.69% in 2011.

Its shares added 15.38% to close at $1.50 with the total traded volume of 700.00 shares having the average volume of 51.00.

Its shares were trading within the range of $1.50-$1.50 while its opening price was $1.50. Its market capitalization is $10.00 million. Its stock price 52 weeks low was $0.90 and 52 weeks high price was $1.50.

Pacific City Financial Corporation is a bank holding company with headquarters in Los Angeles, California. Its wholly owned subsidiary, Pacific City Bank, is a full-service commercial bank established in September 2003 by local Korean-American business owners and professionals with a simple mission to help first generation Asian immigrants realize the American Dream through business ownership.

Since its inception, Pacific City Bank has specialized in commercial banking services for small to medium-size businesses by providing commercial real estate loans, small business loans and line of credit, trade finance loans, auto loans, residential mortgage loans, and SBA loans. With over $500 million in total assets, Pacific City Bank serves a diverse customer base through seven branches in the Greater Los Angeles Area and three Loan Production Offices in three States.

 

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Lower Sales Weighs on JDS Uniphase; Swings to Loss in Q3 – NASDAQ:JDSU http://www.epicstocknews.com/lower-sales-weighs-on-jds-uniphase-swings-to-loss-in-q3-%e2%80%93-nasdaqjdsu/ http://www.epicstocknews.com/lower-sales-weighs-on-jds-uniphase-swings-to-loss-in-q3-%e2%80%93-nasdaqjdsu/#comments Thu, 03 May 2012 09:42:17 +0000 Lisa Jimenez http://www.epicstocknews.com/?p=2438 Continue reading ]]> JDS Uniphase Corporation (NASDAQ:JDSU) turned to a fiscal Q3 loss as the broadband-products maker saw a decline in sales in its core test-and-measurement and communications-and-optical-products units.

Chief Executive Tom Waechter commented that the company saw lower than anticipated revenue in the quarter because of later than projected carrier orders and global macro-economic uncertainty. He further stated that the firm saw operating margins at the higher end of forecasts.

For the existing quarter, the firm is targeting sales of $415 million to $435 million, missing consensus forecast of analysts surveyed by Thomson Reuters, who freshly projected sales of $457 million.

Shares dropped 4.5% in after-hours trading at $11.50. Through Wednesday’s settlement, the stock rose 15% up to now this year.

JDS Uniphase Corporation manufactures products for telecommunications firms, cable operators and network-equipment manufacturers. The firm enjoyed a streak of soaring profits previous year before stumbling in latest quarters, on special charges and falling sales.

For the quarter closed March 31, JDS Uniphase posted a loss of $17.4 million, or 8 cents per share, as compared to a year-ago profit of $38.6 million, or 16 cents per share. Exclusive of special objects like stock-based compensation and acquisition-related impacts, earnings dropped to 11 cents against 22 cents.

Analysts surveyed by Thomson Reuters had recently projected per-share earnings of 11 cents per share.

Revenue dropped 9.9% to $409.2 million. The firm in February had seen sales of $410 million to $425 million, in line with Wall Street forecasts at the time.

Gross margin dropped to 44.9% against 47.1%.

Revenue from the test and measurement segment dropped 6%. Revenue from the communications and commercial optical products division, which is involved in telecom and cable television, declined 17%.

 

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Comcast Net Rises 30% in First Quarter – NASDAQ:CMCSA http://www.epicstocknews.com/comcast-net-rises-30-in-first-quarter-%e2%80%93-nasdaqcmcsa/ http://www.epicstocknews.com/comcast-net-rises-30-in-first-quarter-%e2%80%93-nasdaqcmcsa/#comments Thu, 03 May 2012 09:40:30 +0000 Greg Alcott http://www.epicstocknews.com/?p=2437 Continue reading ]]> Comcast Corporation (NASDAQ:CMCSA), the country’s biggest cable company, announced a 30% profit rise in the Q1, surpassing forecasts on the strength of Super Bowl advertising and its popular broadband service.

The Philadelphia-based cable firm stated Wednesday that its net income increased to $1.224 billion, or 45 cents a share, for the January to March period from $943 million, or 34 cents a share, a year before.

Analysts surveyed by FactSet were anticipating earnings of 42 cents a share for the most recent quarter

Revenue increased to $14.9 billion, higher than analysts’ anticipation of $14.4 billion. The rise was 9.6% as compared to the shared cable and NBC Universal results a year earlier.

Comcast’s acquisition of a majority stake in NBC Universal, which holds TV channels and movie studios, closed at the close of January previous year.

NBC Universal’s results increased in the quarter. It comprised a third of Comcast’s revenue, but increased much faster, at 18% from previous year. Revenue at the NBC broadcast network increased 37% because of the Super Bowl. Fox broadcast it previous year.

Exclusive of the Super Bowl, NBC’s revenue increased 17%, helped by enhancing prime-time ratings and shows like “The Voice” and “Smash.”

At Universal Studios, revenue increased 22% on the theatrical victory of “Dr. Seuss’ The Lorax” and “Safe House.”

Comcast shares dropped 83 cents, or 2.7%, to $29.77 in early trading Wednesday. On Tuesday, the shares marked $30.88, the maximum price in 12 years.

 

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Sound Financial Posts Ninth Consecutive Lucrative Quarter – OTC:SNFL http://www.epicstocknews.com/sound-financial-posts-ninth-consecutive-lucrative-quarter-%e2%80%93-otcsnfl/ http://www.epicstocknews.com/sound-financial-posts-ninth-consecutive-lucrative-quarter-%e2%80%93-otcsnfl/#comments Thu, 03 May 2012 09:38:51 +0000 Brian Callom http://www.epicstocknews.com/?p=2439 Continue reading ]]>

Sound Financial, Inc. (OTC:SNFL), holding firm for Sound Community Bank, recently announced net income for the quarter closed March 31, 2012, of $546,000, or $0.18 a diluted share, against consolidated net income of $496,000, or $0.17 a diluted share, for the quarter closed March 31, 2011.

Return on Average Assets came in at 0.64% for the quarter closed March 31, 2012, as compared to 0.60% for the quarter closed March 31, 2011. Overall consolidated assets rose to $348.7 million as of March 31, 2012, as compared to $339.7 million as of December 31, 2011. This is the ninth successive quarter of optimistic earnings for the Company.

Net Interest Margin enhanced 5 basis points to 5.23% for the quarter closed March 31, 2012, from 5.18% for the quarter closed March 31, 2011.

Efficiency Ratio dropped to 47.91% for the quarter closed March 31, 2012, as compared to 63.23% for the quarter closed March 31, 2011.

Deposit Cost of Funds came in at 0.73% for the quarter closed March 31, 2012, as compared to 0.94% for the quarter closed March 31, 2011.

Provision for Loan losses rose to $1.5 million for the quarter closed March 31, 2012, from $825,000 for the quarter closed March 31, 2011.

Non-Performing Loans to Gross Loans came in at 2.57% as of March 31, 2012, as compared to 2.06% as of March 31, 2011.

Non-Performing Assets to Total Assets came in at 2.81% as of March 31, 2012, as compared to 2.82% as of March 31, 2011.

Its shares traded flat at $7.80 with the total traded volume of 202.00 shares having the average volume of 80.00.

Its shares were trading within the range of $7.80-$7.80 while its opening price was $7.80. Its market capitalization is $23.00 million. Its stock price 52 weeks low was $6.25 and 52 weeks high price was $8.00.

Sound Financial, Inc. is the holding company for Sound Community Bank, a full-service bank, providing personal and business banking services in communities across the greater Puget Sound region. The Seattle-based company operates five full-service banking offices in King, Pierce, Snohomish and Clallam Counties, and is on the web at www.soundcb.com.

 

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Generic Lipitor Weighs on Pfizer Q1 Earnings; Net Down 19% – NYSE:PFE http://www.epicstocknews.com/generic-lipitor-weighs-on-pfizer-q1-earnings-net-down-19-%e2%80%93-nysepfe/ http://www.epicstocknews.com/generic-lipitor-weighs-on-pfizer-q1-earnings-net-down-19-%e2%80%93-nysepfe/#comments Wed, 02 May 2012 09:48:49 +0000 Lisa Jimenez http://www.epicstocknews.com/?p=2430 Continue reading ]]> Pfizer Inc. (NYSE:PFE) announced Tuesday that its Q1 profit dropped 19%, mostly because new generic opposition to its blockbuster cholesterol pill Lipitor cut US sales by 15% as the drugmaker offered giant rebates and discounts to keep patients on its brand.

The world’s largest drugmaker surpassed Wall Street’s profit forecasts but narrowly missed its sales estimate. It trimmed its revised profit prediction for 2012 by 6 cents, to $2.14 to $2.24 a share. Analysts had forecasted $2.26 a share. Including one-time items, it anticipates earnings per share of $1.23 to $1.38.

New York-based Pfizer stated that the change was because of its recent decision to sell its infant-nutirition business to Swiss food and drink heavyweight Nestle SA for $11.85 billion. The steep fall in Lipitor revenue was factored into its prior estimates.

The maker of Viagra stated that net income was $1.79 billion, or 24 cents a share, lower from $2.22 billion, or 28 cents a share, a year previously.

Exclusive of one-time items, Pfizer would have made $4.43 billion, or 58 cents a share. Analysts were anticipating 56 cents per share.

Revenue summed $15.4 billion, lower 7% from $16.5 billion a year earlier. Analysts were anticipating $15.46 billion.

Sales in the US, where Pfizer’s patent expired on November 30 for Lipitor, the top-selling drug in history, dropped to $5.95 billion, as compared to $7.02 billion. International sales rose 1%, to $9.45 billion.

Pfizer stated that its Lipitor sales dropped 42%, to $1.4 billion as compared to $2.39 billion. Its shares dropped -0.52% to $22.78.

 

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