Tech: Apple Inc (NASDAQ: AAPL) Retreats, But Above $600 R(STX, AAPL, APKT, BV, INFA)
Seagate Technology PLC (NASDAQ:STX) declined 1.71% to $24.65 after the company late Thursday trimmed its fourth-quarter revenue and margin views, which fell short of analysts’ views. For the quarter ended June 29, the company now expects revenue of about $4.5 billion and adjusted gross margin of 33.6%. Its prior view called for revenue of at least $5 billion and adjusted gross margin of at least 34.5%. Analysts on average were expecting revenue of $4.88 billion, according to Thomson Reuters.
In April, Seagate reported its fiscal third-quarter earnings surged for a second-consecutive quarter, again topping analysts’ expectations, as the maker of hard drives experienced pent-up demand and higher prices for drives that continued to support soaring results.
Apple Inc (NASDAQ: AAPL) is retreating this morning and lost 1.18% to $602.67. The stock is showing strong support at $600 mark. Over the past few trading sessions the stock has been showing solid strength on rumors that the company has been planning to launch “iPad Mini” in October. The latest report from Bloomberg, also confirms the likelihood that Apple’s iPad Mini is slated for announcement in October, and will be shipping by the end of the year .
Acme Packet Inc (NASDAQ:APKT) decreased 13.75% to $15.87 after the Company provided an update for second quarter 2012. The Company expects total revenues to range between $66 million to $68 million. GAAP gross margin to range between 79% and 80% for the second quarter. Diluted loss per share on a GAAP basis to range between ($0.01) and ($0.02). Cash and cash equivalents to be approximately $400 million for the second quarter 2012. The Company will release final financial results for the quarter and update its full year business guidance on July 26, 2012.
Bazaarvoice Inc (NASDAQ:BV) plunged 2.63% to $18.15. The Company has updated guidance for the first fiscal quarter and fiscal year due to the contribution from the acquisition of PowerReviews Inc completed on June 12, 2012. The Company expects revenue to be in the range of $33.5 million to $34.0 million. Adjusted EBITDA loss is expected to be in the range of $6.5 million to $7.5 million.
Informatica Corporation (NASDAQ:INFA) slipped 28.96% to $30.81 after the Company reported preliminary second quarter results. The Company expects total revenues for the second quarter to be in the range of $188 million to $190 million. License revenues are expected to be in the range of $70 million to $72 million and service revenues are expected to be in the range of $117 million to $119 million. Earnings per share are expected to be in the range of $0.16 to $0.17 per diluted share.