Insteel Industries (Nasdaq: IIIN ) reported earnings on July 18. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 29 (Q3), Insteel Industries met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share grew significantly.
Margins grew across the board.
Revenue details
Insteel Industries reported revenue of $96.9 million. The three analysts polled by S&P Capital IQ expected revenue of $96.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.18. The three earnings estimates compiled by S&P Capital IQ anticipated $0.26 per share. GAAP EPS of $0.18 for Q3 were 260% higher than the prior-year quarter's $0.05 per share.
5 Best US Stocks For 2015: eBay Inc.(EBAY)
eBay Inc. provides online platforms, services, and tools to help individuals and merchants in online and mobile commerce and payments in the United States and internationally. Its Marketplaces segment operates ecommerce platform eBay.com; vertical shopping sites, such as StubHub, Fashion, Motors, and Half.com; and classifieds Websites, including Den Bl�Avis, BilBasen, Gumtree, Kijiji, LoQUo, Marktplaats.nl, mobile.de, Alamaula, Rent.com, eBay Anuncios, eBay Kleinanzeigen, and eBay Annunci, as well as provides advertising services. The company?s Payments segment offers payment and settlement services for consumers and merchants on and off eBay Websites and other merchant Websites. This segment operates PayPal, which enables individuals and businesses to send and receive payments online and through mobile devices; Bill Me Later that enables the United States merchants to offer, the United States consumers to obtain, credit at the point of sale for ecommerce and mobile tra nsactions; Zong, which allows users with mobile phones to purchase digital goods and have the transactions charged to their phone bill; and BillSAFE that enables customers pay for purchases upon receipt of an invoice. Its GSI segment offers an ecommerce services suite for enterprise clients that operate in general merchandise categories, including apparel, sporting goods, toys and baby, health and beauty, and home; and marketing services comprising full-service digital agency, enterprise email marketing, mobile advertising, affiliate marketing, advertisement retargeting, and in-depth analytics services. The company also offers X.commerce platform that provides software developers access to the company?s applications programming interfaces to develop functionality for various merchants; and Magento Connect, which allows developers to market and sell add-on functionality and solutions to merchants that use a Magento storefront. eBay Inc. was founded in 1995 and is headquarter ed in San Jose, California.
Advisors' Opinion:- [By Daniel Sparks]
If you're one of these investors, here are two quantifiable investment opportunities I've came across this month: Microsoft (NASDAQ: MSFT ) and eBay (NASDAQ: EBAY ) .
- [By Wallace Witkowski]
Shares of eBay Inc. (EBAY) �dropped 4.1% to $51.33 on heavy volume after the company�� outlook for the fourth quarter disappointed.
5 Best US Stocks For 2015: PulteGroup Inc.(PHM)
PulteGroup, Inc., through its subsidiaries, engages in homebuilding and financial services businesses primarily in the United States. The company?s homebuilding business includes the acquisition and development of land primarily for residential purposes within the United States; and the construction of housing on such lands. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Pulte Homes, Del Webb, and Centex brand names. As of December 31, 2011, its homebuilding operations offered homes for sale in approximately 700 communities. The company?s financial services business consists of mortgage banking and title operations. It arranges financing through the origination of mortgage loans for its homebuyers; sells such loans and related servicing rights; and provides title insurance policies as an agent, and examination and closing services to its home buyers. The company was formerly known as Pulte Homes, Inc. an d changed its name to PulteGroup, Inc. in March 2010. PulteGroup, Inc. was founded in 1956 and is headquartered in Bloomfield Hills, Michigan.
Advisors' Opinion:- [By Amanda Alix]
The housing market has been steadily improving, lifting the stocks of homebuilders like Beazer Homes (NYSE: BZH ) , Hovnanian (NYSE: HOV ) , and PulteGroup (NYSE: PHM ) to heights not seen since the mortgage crisis. Indeed, a recent Federal Reserve survey noted�that housing helped buoy the economy during the first two months of this year, along with auto sales.
Top 5 Media Stocks To Watch For 2015: Amgen Inc.(AMGN)
Amgen Inc., a biotechnology medicines company, discovers, develops, manufactures, and markets human therapeutics based on advances in cellular and molecular biology for grievous illnesses primarily in the United States, Europe, and Canada. The company markets recombinant protein therapeutics in supportive cancer care, nephrology, and inflammation. Its principal products include Aranesp and EPOGEN erythropoietic-stimulating agents that stimulate the production of red blood cells; Neulasta and NEUPOGEN to stimulate the production of neutrophils, which is a type of white blood cell that helps the body to fight infections; and Enbrel, an inhibitor of tumor necrosis factor that plays a role in the body?s response to inflammatory diseases. The company also markets other products comprising Sensipar/Mimpara, a small molecule calcimimetic that lowers serum calcium levels; Vectibix, a monoclonal antibody that binds specifically to the epidermal growth factor receptor; and Nplate, a thrombopoietin (TPO) receptor agonist that mimics endogenous TPO, the primary driver of platelet production. In addition, it provides Denosumab, a human monoclonal antibody that targets RANKL, an essential regulator of osteoclasts. Further, the company offers product candidates in mid-to-late stage development in a variety of therapeutic areas, including oncology, hematology, inflammation, bone, nephrology, cardiovascular, and general medicine consisting of neurology. It markets its products to healthcare providers, including physicians or their clinics, dialysis centers, hospitals, and pharmacies; consumers; and wholesale distributors of pharmaceutical products. The company has various collaborative arrangements with Pfizer Inc.; GlaxoSmithKline plc; Takeda Pharmaceutical Company Limited; Daiichi Sankyo Company, Limited; Array BioPharma Inc.; Kyowa Hakko Kirin Co. Ltd.; and Cytokinetics, Inc. Amgen Inc. was founded in 1980 and is headquartered in Thousand Oaks, California.
Advisors' Opinion:- [By Roberto Pedone]
Amgen (AMGN) is a biotechnology medicines company. It discovers, develops, manufactures and delivers innovative human therapeutics. This stock closed up 6.8% at $112.40 in Wednesday's trading session.
Wednesday's Volume: 9.91 million
Three-Month Average Volume: 3.27 million
Volume % Change: 189%Shares of AMGN ripped higher on Wednesday after news broke that the company is close to a deal to buy Onyx Pharmaceuticals (ONXX) for $130 a share, valuing the deal at around $9.5 billion.
From a technical perspective, AMGN spiked sharply higher here right above its 50-day moving average of $102.08 with heavy upside volume. This move pushed shares of AMGN into breakout territory, since it took out some near-term overhead resistance levels at $110 to $111.30. Shares of AMGN are now quickly moving within range of triggering another big breakout trade. That trade will hit if AMGN manages to take out Wednesday's high of $113.30 to its 52-week high at $114.95 with high volume.
Traders should now look for long-biased trades in AMGN as long as it's trending above $110 or $108 and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.27 million shares. If that breakout hits soon, then AMGN will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that move are $120 to $125.
- [By Ben Levisohn]
After weeks of speculation, Amgen’s (AMGN) purchase of Onyx Pharmaceuticals (ONXX) looks like a done deal. The Wall Street Journal has the details:
Associated PressAmgen�Inc. reached a deal Sunday to buy fellow biotech�Onyx Pharmaceuticals�Inc. for roughly $10.4 billion, the latest proposed takeover aimed at tapping into growth expected from the cancer-drug industry.
The all-cash takeover values Onyx at $125 a share. The price Amgen is paying is below what investors expected in the days after the possible deal surfaced in late June. Amgen had approached Onyx with an offer of $120 a share for the company, whose primary attraction is a blood-cancer drug called Kyprolis…
The deal is expected to close at the beginning of the fourth quarter.
RBC’s Michael Yee and team list three reasons for Amgen stockholders to like the deal:
We reiterate our view AMGN will likely go higher after acquiring ONXX because: 1) adds growth ��changes the growth profile of AMGN and modestly accelerates top/bottom line (we see 5-15% accretion…), 2) diversification: it diversifies AMGN away from current portfolio of supportive care drugs where over 40% is exposed to biosimilars over next few years so it reduces biosimilar risk, 3) adds leverage through OUS infrastructure, reimbursement expertise, and existing cancer salesforce (tougher for small co’s).
Amgen has gained 8.5% to $114.54 and Onyx has risen 5.7% to $123.64.
Cantor Fitzgerald’s Mara Goldstein and Adeyemi Ogunkoya consider what the deal says about the current state of the biotech market–and the recent biotech rally (the SPDR S&P Biotech ETF (XBI) has gained 38% this year):
Because of the ebb and flow of pipelines in the drug development industry, valuations for biotech companies may also rise and fall depending on a given cycle. The last few years has been one of large cap industry pipeline ebb, and that suggests to us t
- [By Steven Silver]
In our view, Amgen (AMGN), Celgene (CELG), and Gilead Sciences (GILD) each has bolstered its long-term growth prospects in recent years.
Celgene, which had been reliant on its multiple myeloma drug Revlimid for the majority of its revenue, secured approval of internally-developed Pomalyst for late-stage multiple myeloma.
5 Best US Stocks For 2015: SPDR S&P 500 ETF Trust (SPY)
SPDR Trust, Series 1 (the Trust) is a unit investment trust. The Trust is an exchange-traded fund created to provide investors with the opportunity to purchase a security representing a proportionate undivided interest in a portfolio of securities consisting of substantially all of the common stocks, in substantially the same weighting, which comprise the Standard & Poor's 500 Composite Price Index (the S&P Index). Each unit of fractional undivided interest in the Trust is referred to as a Standard & Poor's Depositary Receipt (SPDR).
The Trust utilizes a full replication approach. With this approach, all 500 securities of the Index are owned by the Trust in their approximate market capitalization weight.
Advisors' Opinion:- [By Michael A. Gayed]
The S&P 500 (SPY) rose last week following a very weak August as traders returned from the long weekend and re-adjusted probabilities of a Syria strike as President Obama decided to seek Congressional approval. The Fed's Beige Book emphasized moderate growth, auto sales came in better than expected, and ISM manufacturing was strong. None of this, however, translated into the Friday jobs report, which was highly disappointing. Not only did the August data miss expectations with whisper numbers considerably higher, but prior month revisions were lower. Some economists have argued the data was "just good enough" to keep the Fed on course for tapering, while others think tapering will be pushed out. Either way, the data seems to have complicated the Fed's expected timeline for pulling back on QE fully.
5 Best US Stocks For 2015: Electro Scientific Industries Inc (ESIO)
Electro Scientific Industries, Inc. (ESI) incorporated on April 19, 1949, is a supplier of laser-based manufacturing solutions for the microtechnology industry. The Company operates high-technology manufacturing equipment, which consists of products that are organized in three groups: interconnect & microfabrication, semiconductor and components. The Company�� laser systems enable precise structuring of micron to submicron features in components and devices which are used in a wide variety of end products in the consumer electronics, computer, semiconductor, communications and other markets. Its laser microfabrication systems allow microelectronics, semiconductor, and other microtechnology manufacturers to physically alter select device features during high-volume production. In June 2012, it acquired Eolite Systems.
The Company�� laser-based systems improve production yields or enable improved performance for flexible and rigid high density interconnect printed circuit boards, semiconductor devices, light emitting diodes (LEDs), advanced semiconductor packaging, touch-panel glass, flat panel liquid crystal displays (LCDs) and other high value components. Additionally, it produces high-capacity test and inspection equipment that is critical to control process during the production of multilayer ceramic capacitors (MLCCs). Its equipment ensures that each component meets the electrical and physical tolerances required to perform properly. Lastly, it produces systems that use photonic technology to perform precision inspection for control and defect identification. The Company�� Interconnect & Microfabrication Group products address an expanding number of applications and materials on a broad set of substrates, including panels, continuous-feed reels, and discrete three dimensional components or devices.
Interconnect Via Drilling
For electrical interconnect applications, The Company�� laser via micro fabrication systems target applications that require the ! highest accuracy and smallest via (hole) dimensions to create electrical connections between layers in flexible circuits, high-density circuit boards and IC packages. The Company�� microvia drilling technology addresses the rapidly changing applications in IC packages, multichip modules and HDI circuit boards. Its ultraviolet (UV) laser processing systems employ technology in lasers, optics and motion control.
Advanced Microfabrication
The Company offers several platforms that enable customers to perform precision drilling, scribing, cutting, etching, routing or marking on many different types of materials and devices including glass, metal, plastic, paint and ceramics. It also offer laser ablation systems that ablate material for identification and analysis applications, including forensics, mineral analysis and research.
Semiconductor Group (SG)
The Company�� Semiconductor Group products address multiple applications that utilize laser energy to process materials on wafer-based substrates. This includes traditional silicon wafers, LEDs wafers, and new ultrathin silicon wafers used in the three-dimensional (3D) packaging applications. Semiconductor Memory Yield Improvement Systems includes semiconductor memory yield improvement products are designed to cost-effectively enable post-repair yield improvements in the manufacturing of dynamic random access memory (DRAM) memory devices.
3D Semiconductor Wafer Processing
The 3D chip packaging technologies is driving the need for silicon wafers to become thinner in order to allow for stacking of wafers within the same packaging geometry. As wafers become thinner, they become more challenging to cut into discrete chips using traditional mechanical saws. The Company�� model 9900 uses a laser to dice ultra-thin silicon wafers, those with a thickness of 50 microns or below, and to singulate interposers. In addition, this platform can be used to scribe next generation thin film ! materials! that lend themselves to laser processing.
LED Wafer Scribing
The Company�� AccuScribe line of sapphire wafer scribing systems is a key component in the manufacture of LEDs. During production, LEDs are created on a thin wafer of synthetic sapphire crystal that must be broken into individual units at the end of the process. The brittle nature of the sapphire wafer requires that it be carefully cut in order to prevent unwanted fractures, yield losses, and lower light output when the wafer is broken apart into discrete LEDs. The AccuScribe systems use a laser to scribe the wafer with a precise groove between individual LEDs. When mechanical force is applied to the wafer, it fractures along these grooves and allows the wafer to be split apart into discrete LEDs. These systems are capable of scribing both standard and high brightness designs for general illumination applications. In addition, this platform can be used to address singulation of various LED packaging materials.
LCD Repair
The Comapny's laser LCD repair systems are critical to improving yields in the manufacture of flat panel displays. During production, individual pixels of a display may develop electrical defects that result in no light emission or the emission of only a steady white light. To correct these defects, flat panel display producers employ a laser repair process to isolate the electrical defects during production by cutting the inputs to the pixel. Its laser systems are primarily sold to the manufacturers of LCD repair tools as a key component of their products.
Semiconductor Systems
The products include industry wafer marking equipment, wafer and circuit trim tools, and LCD repair tools. Wafer marking equipment is used for serialization and wafer identification by both manufacturers of semiconductor wafers and within semiconductor fabs. Wafer and circuit trim tools are laser systems that adjust the electrical performance of semiconductor devic! es or hyb! rid circuits by removing a precise amount of material from one or more circuit components.
Components Group (CG)
The Company designs and manufactures products that combine high-speed small parts handling technology with real-time control systems to provide automated, cost-effective inspection solutions for manufacturers of MLCC and other passive components such as capacitor arrays, inductors, resistors, varistors and hybrid circuits. These components, produced in quantities of trillions of units per year, process analog, digital and high-frequency signals and are used in all electronic products.
The Company provides several types of products and solutions in this market. Its MLCC test systems employ high-speed handling and positioning techniques to precisely load, test and sort MLCCs based on their electrical energy storage capacity, or capacitance, and their electrical energy leakage, or dissipation factor. Its 35XX series is the productive tester. Its 3510 model enables high speed testing of the industry�� smallest metric 0402 capacitors used primarily in advanced cell phone and tablet designs. It also produces consumable products, such as carrier plates and termination belts, both of which are used to hold MLCCs during the manufacturing and testing process.
The Company competes with Mechanics, Ltd., LPKF Laser & Electronics AG, Mitsubishi Electric Corporation, Orbotech Ltd., InnoLas Systems GmbH, DISCO Corporation, Laser Solutions, Inc., Quantel USA, Inc., Humo Laboratory, Ltd. and HOYA Corporation.
Advisors' Opinion:- [By Eric Volkman]
Electro Scientific Industries (NASDAQ: ESIO ) has a new division under its corporate wing. The company has inked a definitive agreement to purchase the semiconductor systems unit of GSI Group (NASDAQ: GSIG ) . The terms of the deal were not disclosed.
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