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Syneron Medical Ltd. (ELOS)

Investor Meeting Conference Call

May 22, 2012 10:30 am ET

Executives

Louis P. Scafuri – Chief Executive Officer

Alan Gold – Plastic Surgeon, Great Neck

Shimon Eckhouse – Chairman

Christopher Inglefield – Medical Director and Owner, London Bridge Plastic Surgery & Aesthetic Clinic

Arie Benchetrit – Cosmedica Plastic Surgery Clinic

Fabian Tenenbaum – Chief Executive Officer, Syneron Beauty

Zoe Diana Draelos – Dermatologist, High Point

Presentation

Louis P. Scafuri

Good morning my name is Louis Scafuri, I’m the Chief Executive Officer of Syneron on behalf of our company I would like to welcome everyone to our investor presentation today. Joining me today from Syneron management is our Chairman and Founder Dr. Shimon Eckhouse also our Chief Financial Officer Mr. Asaf Alperovitz. As well as we are joined by Mr. Fabian Tenenbaum who is the Chief Executive Officer of Syneron Beauty and Assaf Korner, who is the

Complete Story » By Asset Investing:

The Offering

Corsair Components (CRSR) manufactures high-performance components for PC gamers, specifically those who build their own computers or customize pre-built systems to achieve faster processing speeds and improve graphic capabilities. The company has around 800 employees and is based out of Fremont, California. Corsair is pricing 6 million shares at a price of $12 - $14 per share and is expected to begin trading on May 24th. It hopes to raise $78 million and trade with a market cap of $223 million. The managers and co-managers of the deal are Stifel Nicolaus Weisel, RBC Capital Markets (RY), William Blair & Company and Needham & Company.

Corsair Components' Business

Today's leading edge video games have vast virtual environments, high quality digital sound and in order to be successful must create an in-depth and immersive user experience. To use all the features of today's popular games requires significant computer system resources,

Complete Story » By Stephen Rosenman:

Dell (DELL) can't seem to keep its promises.

In addition to missing its numbers for the quarter (EPS 3 cents shy of consensus, revenue light by $500 million), Dell ducked its year guidance.

It's not the first time. I wouldn't harp on it if Dell didn't make investors a promise. After all, lots of companies don't give longer-term guidance. Apple (AAPL) doesn't. Still, tell me you're going to do something and I expect you to do it.

Here's what Dell promised last November.

We look forward to providing you with an updated outlook for FY '13 in February and continuing to update you on the progress that we're making.

Didn't happen. In February, Dell delayed year guidance:

With our primary objective continuing to be one of reshaping the company for the future, combined with today's more uncertain environment and our continued pruning activities, we're not providing a revenue outlook for

Complete Story »

LSI Corporation (LSI)

May 22, 2012 11:15 am ET

Executives

D. Jeffrey Richardson - Chief Operating Officer and Executive Vice President

Analysts

Blayne Curtis - Barclays Capital, Research Division

Presentation

Blayne Curtis - Barclays Capital, Research Division

All right, we'll go ahead and get started. I'm Blayne Curtis, one of the semi analysts here at Barclays. Very happy to have LSI with us. We're going to do a more informal fireside. From the company, we have Jeff Richardson, the Chief Operating Officer; also, mosino [ph] Sujal Shah from Investor Relations.

And maybe let's talk about -- but maybe just start off with just a brief overview and kind of -- some people who may have -- haven't heard your story in a bit, Jeff and then we'll dive into the questions.

D. Jeffrey Richardson

Okay. Great. Thanks, Blayne, there. So obviously, many of you follow LSI but maybe many of

Complete Story » By Valuematters:

General Overview

Old Republic Insurance Corporation (ORI) is an insurance company that is set up with 4 reporting segments. These segments, along with a brief description of what the segments entail, are listed below (descriptions are taken from the company's latest 10-K):

General Insurance Group: Old Republic's General Insurance segment is best characterized as a commercial lines insurance business with a strong focus on liability insurance coverages. Most of these coverages are provided to businesses, government, and other institutions. The Company does not have a meaningful exposure to personal lines insurance such as homeowners and private automobile coverages, nor does it insure significant amounts of commercial or other real property. In continuance of its commercial lines orientation, Old Republic also focuses on specific sectors of the North American economy, most prominently the transportation (trucking and general aviation), commercial construction, healthcare, education, retail and wholesale, forest products, energy, general manufacturing, and

Complete Story »

Dell (DELL)

Q1 2013 Earnings Call

May 22, 2012 5:00 pm ET

Executives

Robert Williams - Director of Investor Relations

Brian T. Gladden - Chief Financial Officer and Senior Vice President

Stephen J. Felice - President, Chief Commercial Officer, President of Global Small & Medium Business and President of Consumer Small & Medium Business

Michael S. Dell - Founder, Chairman and Chief Executive Officer

Analysts

Chris Whitmore - Deutsche Bank AG, Research Division

Benjamin A. Reitzes - Barclays Capital, Research Division

Katy Huberty - Morgan Stanley, Research Division

A.M. Sacconaghi - Sanford C. Bernstein & Co., LLC., Research Division

Brian G. Alexander - Raymond James & Associates, Inc., Research Division

Bill C. Shope - Goldman Sachs Group Inc., Research Division

Shannon S. Cross - Cross Research LLC

Aaron C. Rakers - Stifel, Nicolaus & Co., Inc., Research Division

Brian Marshall - ISI Group Inc., Research Division

Kulbinder Garcha - Crédit

Complete Story » By Stoyan Bojinov:

Domestic equity markets got off to an encouraging start, only to give into profit-taking pressures in the final hours of trading. Major indexes ended up in red territory as escalating worries that Greece would exit the euro weighted on investors’ confidence. On Wall Street, the S&P 500 Index came out on top, clinching a gain of 0.05% on the day, while the Nasdaq settled in red territory, shedding 0.29% on the day. Gold and oil finished lower as well. Futures prices for these commodities settled near $1,565 an ounce and $91.40 a barrel, respectively.

Stocks kicked off the day with a rally as investors cheered on the latest housing market data. Existing home sales in April came in at 4.62 million, inching past analyst estimates of 4.60 million as well as the previous month’s reading of 4.47 million. On the international front, the British pound lost ground versus the U.S.

Complete Story » By Kraken:

Best Buy's (BBY) Interim CEO discussed earnings and its recent beat. Interim CEO Mike Mikan also discussed upon the company's restructuring plan. The company reported earnings of 72 cents per share excluding restructuring costs. This is more than 59 cents analyst were expecting. Revenue was 11.61 billion, which is more than the 11.52 billion that analyst expected.

The reason the company saw an increase in sales was due to an extra week this quarter compared to last year. This showed a 2.1% increase in sales, in what really should have been a 4.3% decrease.

Best Buy has also be incurring significant costs due to its restructurings. The company continues to close down its stores. 41 stores have already been closed with a plan to close an additional 9 more. Best Buy has been trying to increase earnings by managing its cost structure, but I do not believe the company is

Complete Story » By WhisperNumber:

Expected earnings reports and the whisper number impact for Wednesday, May 23rd:

Toll Brothers (TOL): The whisper number is $0.04, in-line with the analysts' estimate. Toll has a 41% positive surprise history (having topped the whisper in 13 of the 22 earnings reports for which we have data). The average price movement (starting at next market open) within 10 trading days of these 22 earnings reports is -0.3%. The strongest price movement of 2.0% comes within five trading days when the company reports earnings that beat the whisper number, and -2.2% within five trading days when the company reports earnings that miss the whisper number. Last quarter the company reported earnings 7 cents short of the whisper number. Following that report the stock realized a 3.1% loss in 10 trading days before turning and seeing a 5.2% gain in 20 trading days. Enter your expectation and view more earnings information

Complete Story » By David Wolf:

In an excellent post in the Company Town blog over at The Los Angeles Times, Jonathan Landreth describes News Corporation's (NWS) announcement that it is purchasing just under 20% of Beijing-based Bona Film Group.

The deal is interesting for several reasons. First, it marks a strategic departure for News Corp., which has in the past preferred to own larger stakes in its China ventures. It is also the first major investment News Corp. has made in traditional media since 2006, when CEO Rupert Murdoch told a meeting of industry executives in New York that he'd hit "a brick wall" in China.

Second, it is interesting because News Corp. is now leading from behind in China, preferring to play a fast second rather than trying to beat the rest of the industry. Similar linkages between Legendary Pictures and Orange Sky Golden Harvest, DreamWorks Animation and Shanghai Media Group, and Walt Disney

Complete Story »

Brooks Automation, Inc. (BRKS)

BarCap 2012 Global TMT Conference

May 22, 2012 4:15 p.m. ET

Executives

Martin Headley - EVP & CFO

Analysts

Olga Levinzon – Barclays Capital

Presentation

Olga Levinzon – Barclays Capital

Good afternoon. I am Olga Levinzon, (inaudible) at Barclays. And it’s my pleasure to introduce Mr. Martin Headley, CFO of Brooks Automation.

Martin Headley

Thank you very much, Olga. And welcome to Brooks. For those of you who may not know, just remind you that our core market historically has been semiconductor front end and those markets adjacent to that market, being markets such as MEMS, LED, data storage as well as some of our general vacuum markets that we generally call an industrial one. For those markets we provide robotic handlers and systems from which the Brooks Automation name originally comes.

But through acquisitions we’ve made in the past, we also have cryogenic vacuum pumps

Complete Story » By VFC:

Shares of NovaBay Pharmaceuticals (NBY) were cruising along for months in a price range pretty much centered at right around the $1.30 mark until a sudden slide took shape along as the general market started to experience an overall downturn. No news hit the streets to justify the share price drop and volume, while above the norm, did not indicate a mass exodus of any sort.

Once the short-term dust settled, however, NovaBay shares were quick to regain the one dollar foothold when news hit the wires last week announcing that the company had enrolled its first patient in a Phase IIb study that will evaluate the company's lead compound, NVC-422, in the treatment of adenoviral conjunctivitis, a highly contagious form of "pink eye."

The initiation of this trial, entitled BAYnovation, and the enrollment of the first patient should be viewed as a significant milestone for NovaBay, as there is

Complete Story » By CommodityHQ:

By Jared Cummans

Commodities are potentially very powerful investments, but they also come with their fair share of risks. In recent years, investors and advisors have begun to adopt commodities into portfolios, as many have seen the benefits of adding these low-correlated assets to a group of holdings. the launch of a robust lineup of exchange-traded products that utilize both physical commodities and commodity futures contracts has brought commodities to the masses; they're no longer reserved for the largest and most sophisticated investors.

But as these assets have become more widely available, so too has the confusion on how to properly use them for clients without getting burned. While commodity education must be an ongoing process, there are a number of basics that can enhance overall understanding, identify opportunities and limitations, and generally promote a better experience with these hard assets [see also The Ten Commandments of Commodity Investing]:

1.
Complete Story » By MetalMiner: silver,
Complete Story » By WhisperNumber:

Expected technology sector earnings reports and the whisper number impact for Wednesday, May 23rd:

Hewlett-Packard (HPQ): The whisper number is $0.90, one cent behind the analysts' estimate. HP has a 62% positive surprise history (having topped the whisper in 29 of the 47 earnings reports for which we have data). The average price movement (starting at next market open) within 10 trading days of these 47 earnings reports is -0.3%. The strongest price movement of -2.8% comes within 20 trading days when the company reports earnings that beat the whisper number, and 1.6% within 30 trading days when the company reports earnings that miss the whisper number (opposite reactor). Last quarter the company reported earnings six cents ahead of the whisper number. Following that report the stock realized a 15.7% loss in thirty trading days. Enter your expectation and view more earnings information
Complete Story » By Tim Plaehn:

The pipeline MLP, Kinder Morgan Energy Partners L.P. (KMP) has been a great, growing income producer for investors since going public 20 years ago. The distributions paid by KMP have increased steadily and have never declined. Investors who own Kinder Morgan Energy Partners shares should be very happy with their investment. The discussion here concerns whether the company holding the general partner rights of KMP - Kinder Morgan Inc. (KMI) - could provide a boost to the Kinder Morgan investment performance as an add-on investment.

Kinder Morgan Inc. was taken private in 2007 via leveraged buyout and came back into the public markets with a February 2011 IPO. Besides the general partner interests, Kinder Morgan Inc. owns 9% of the outstanding KMP units and 14% of the i-shares version of KMP - Kinder Morgan Management, LLC (KMR). Kinder Morgan Inc. generates 99% of its cash flow from KMP/KMR LP -

Complete Story »

Parametric Technology Corporation (PMTC)

Barclays Capital Global Technology, Media and Telecommunications Conference Call

May 22, 2012 02:25 pm ET

Executives

Jeff Glidden - EVP & CFO

Tim Fox - IR

Analysts

Presentation

Unidentified Analyst

Okay, thanks for joining us for our next session. We've got Jeff Glidden and Tim Fox from Parametric here. You might not know my background. I have been covering the CAD CAM space, so my coverage of that so for quite a long time and so I have been looking at Parametric for quite a while now. Actually I have to say the last six months have been very, very interesting. And just obviously from some of the events that kind of triggered a lot of these in the short term, but some more from the way how we have seen in the same change of management, we have seen a change in focus and that’s

Complete Story » By InsiderInsights:

Shares of Celsion (CLSN) continue to mark time as the company gets closer to the binary outcome of a key drug approval or disapproval. Recently released quarterly results shed little new information, and investors will have to continue to show patience with this name. The risks are obvious, but insiders appear to believe the risks are worth it for the considerable upside potential in their high-risk, high-return biotech.

Celsion has developed ThermoDox treatment therapy, which uses heat-sensitive nano-particles to precisely place cancer treatment drugs within tumors. The company has secured patents in the United States and Japan, and it's now currently undergoing Phase III trials for the treatment of liver cancer.

Although ThermoDox is also in earlier clinical testing phases for the treatment of breast cancer and colorectal cancer, the "HEAT" trial for liver cancer is the main driver of CLSN's price right now. That was unfortunate for all of

Complete Story » By Capital Traders Group:

By Uri Aboutboul

With the technology sector garnering investor attention with the recent Facebook, Inc. (FB) IPO as well as the launch of wireless handsets equipped with the latest version Google's (GOOG) Android operating system, Ice Cream Sandwich, the pressure is on Apple, Inc. (AAPL) to introduce a new line of smarter more-capable mobile phones. While mobile phone sales around the world have seen a 2% decline year-over-year due to a slowdown in demand in the Asia/Pacific region, Apple's heavily rumored iPhone 5 may drive consumer demand in both the U.S. and Europe, picking up the slack left in the Asian markets.

Despite the short-term decline, longer-term perspectives in the mobile market may be bright for Apple if the newest iteration of the computer-manufacturer's mobile computing devices can meet the following consumer expectations:

iOS 6

According to 9to5Mac, the web's largest independent news source for Apple products and services, many

Complete Story » By John Mylant:

Altria Group Inc (MO) is in a unique position as a stock. Despite the low public image for tobacco products, the smoking brands of the company continue to generate significant cash flow. In addition to top selling cigarettes, Altria also produces the most popular brands of smokeless tobacco under the names Copenhagen and Skoal. It also has holdings in equipment leases and real estate loans. The leases consist of both direct finance and leveraged contracts for property used in rail and transport, aircraft, electric power and other manufacturing. So the company is diversifying to counteract the continued fight against smoking tobacco.

This is a well seasoned company that knows how to battle. Cigarette profits are softening this year. The company's first-quarter profit rose 3.8% as cost controls helped offset weaker cigarette volumes. But the company continues to diversity and move into smokeless tobacco and this is a growing market. Altria

Complete Story »

CEVA, Inc. (CEVA)

Barclays Capital Global Technology, Media and Telecommunications Conference

May 22, 2012 11:45 am ET

Analysts

Joseph Wolf - Barclays Capital

Executives

Yaniv Arieli - Chief Financial Officer

Presentation

Joseph Wolf - Barclays Capital

Good morning. I'm Joseph Wolf from Barclays, and it's my pleasure to introduce Yaniv Arieli from CEVA, the CFO.

Yaniv Arieli

Thanks, Joseph. Good morning, everyone and welcome to the CEVA presentation. Over the next 25 minutes or so, we will try to give you little bit of more flavor, start with the forward-looking statements, then talk about who we are, what is the technology base, and from there we will move and talk about the markets and the growth drivers for us in the segments and then we will wrap up with some of the financial highlights which have a pretty nice correlation to the growth and the ramp up that we have

Complete Story » By Chris Ciovacco:

A well-connected writer for the Telegraph, Ambrose Evans-Pritchard, reported the following European proposals are being pushed this week:

The eurozone's "Latin Bloc" is in full revolt. The trio of French, Italian and Spanish leaders - backed by world powers - are to push for a radical shift in Europe's economic strategy at a crucial summit on Wednesday. The package of measures includes an EMU-wide guarantee of bank deposits aimed at halting a slow bank run across southern Europe, as well as demands for full activation of the European Central Bank as a lender of last resort. They will propose eurobonds to finance an infrastructure blitz, a sort of Marshall Plan to revive confidence even if long-term benefits will take years to feed through.

Mr Hollande is balking at the coronation of German finance minister Wolfgang Schaeuble. "It is a litmus test. Hollande is flexing his muscles, showing that he is

Complete Story » By Valuentum:

Medtronic (MDT) issued strong fiscal fourth-quarter results Tuesday that showed solid earnings expansion and share gains in the U.S. drug-eluting stent market. We think the firm's newly issued outlook for fiscal 2013 is easily achievable, and our fair value estimate remains unchanged.

The heart-rhythm device maker's revenue advanced 4% on a constant currency basis vs. the same period a year ago. On a non-GAAP basis, fourth-quarter net earnings and diluted earnings per share came in at $1.036 billion and $0.99, up 7% and 10%, respectively, from last year's quarter. Consensus expectations were at $0.98 per share. Medtronic pulled in nearly $4 billion in free cash flow during fiscal year 2012. The medical-device maker noted that strength in the quarter was broad-based and pointed to strong U.S. launches of its Resolute Integrity drug-eluting stent and RestoreSensor spinal cord stimulator. Both its Cardiac/Vascular Group and Restorative Therapies Group experienced revenue growth of

Complete Story »

Tech Data Corporation (TECD)

Barclays Capital Global Technology, Media and Telecommunications Conference

May 22, 2012 11:45 AM EST

Executives

Robert Dutkowsky – Chief Executive Officer

Jeffery Howells – Executive Vice President, CFO

Presentation

Moderator

Okay. I think we need to get started. We are delighted to have Tech Data here with us today. We’ve had coverage of Tech Data for a while. They are good friends of ours in the industry. They have an exciting story to tell as well as some very good execution of late.

With us today is the CEO, Bob Dutkowsky and Jeff Howells, the CFO. Bob is going to go through a presentation for a little bit and then we’ll get into Q&A. So with that, Bob?

Robert M. Dutkowsky

Thank you, Ben. Good morning everyone. Thank you for your interest in Tech Data. My goal this morning is to quickly give you a snapshot

Complete Story » By Jaded Consumer:

American Capital Mortgage Investment (MTGE) displays several attractive characteristics. It pays a dividend
Complete Story » By Spencer Osborne:

The annual meeting for shareholders of Sirius XM (SIRI) took place at 9:00 AM on Tuesday, May 22nd. While most annual meetings are pretty typical without a lot of news, there was perhaps a chance that drama surrounding Liberty Media (LMCA) just might unfold. As it turns out questions regarding Liberty Media and its 46.2% stake in the company were brought up, but no real answers were able to be given.

Perhaps the biggest news out of the meeting was the potential that Sirius XM may actually consider a new Nasdaq ticker symbol. It was stated that the company is giving consideration abandoning the now familiar SIRI symbol in favor of the symbol SXM. That's the big news? Well, essentially it is.

The meat and potatoes of the meeting were about current guidance, revenue growth, subscriber growth and the various situations that involve Liberty Media.

Essentially the company has maintained

Complete Story » By Simon Moore:

From a financial standpoint, Telefonica (TEF) is increasingly more Latin American than Spanish. Nonetheless, it trades broadly in line with the Spanish equity market. Despite a possible dividend cut, this creates an opportunity for patient investors.

Telefonica's Corporate Structure

Telefonica is far from being Spain-only company. It has substantial operations across Latin America and elsewhere in Europe.

Click to enlarge all images.

Source: Company reports.

Telefonica Trades Closer to Spain Than Latin America

In the two-year chart below, Telefonica is the blue line, a representative Spanish ETF (EWP) is the green line and a representative Latin American ETF (ILF) is the red line. Clearly, Telefonica trades much closer to the Spanish market than the Latin American one.

Source: Yahoo Finance.

Bulk of Profit Comes From Latin America in 2011

Looking at the split of revenue and operating income shows that Latin America represents the majority of Telefonica's profit. Despite this,

Complete Story »

ASML Holding N.V. (ASML)

Barclays Capital Global Technology, Media and Telecommunications Conference Call

May 22, 2012 02:45 pm ET

Executives

Craig DeYoung - VP, IR

Analysts

Andrew Gardiner - Barclays

Presentation

Andrew Gardiner - Barclays

Good afternoon everybody. My name is Andrew Gardiner from the Barclays European Equity Research team covering the technology hardware space and it's my pleasure on behalf of Barclays, on behalf of the European team as well as our US team here covering the semiconductor capital equipment space headed by CJ Muse to welcome ASML. There we have Craig DeYoung and Peter Convertito from the investor relations team at ASML and we are just going to do a fireside chat, we should have some time for questions at the end, but I will just run through a few hopefully salient topics for Craig, but first of all he is going to give us perhaps a quick

Complete Story » By Ganaxi Small Cap Movers:

Stamford, Conn.-based leading multistrategy hedge fund SAC Capital, founded and led by legendary manager Steven Cohen, filed its latest 13-F for Q1 2012 indicating that it ended the quarter with $22.24 billion in 13-F assets, up from the $15.8 billion in 13-F assets in its prior Q4 filing. Cohen is among the most high-profile hedge fund managers, and has been dubbed as "The Hedge Fund King" in a 2006 Wall Street Journal article and was ranked 94th on Time Magazine's annual list of the most influential people. His net worth is estimated by Forbes at $8.3 billion, ranking him as the 35th richest person in the U.S. He is also among the highest compensated hedge fund managers, with a $1 billion paycheck in 2005 and again in 2010.

His Hedge Fund, SAC Capital, is among the giants on Wall Street both in terms of assets under management as well as

Complete Story » By Modernist:

The people who said that Zynga (ZNGA) would pop on its IPO are the same people who said Zynga would rise in anticipation of Facebook's (FB) IPO. The opposite happened in both cases, because the market knows how to price in obvious information ahead of time and sold off in disappointment when the stock was supposed to be popping but didn't.

But now the dumb money is getting shaken out, and it is time to for smart money to step in.

I am mad at myself, as a Zynga perma-bull, for not turning short-term bearish when it was obvious that the dumb money was overrepresented in

Complete Story »