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Mad Catz Acquires License for Rock Band Game
MCZ - Mad Catz Interactive (American Stock Exchange) - (Closing Price - $1.17)
Mad Catz announced a new license agreement today to produce and distribute game peripherals and other products for the game Rock Band published by MTV games.
Mad Catz has secured the rights to manufacture, market, and sell game accessories, including both wired and wireless bass guitars, a drum percussion set bundled with drum sticks, and a wired microphone. Mad Catz expects its initial offerings under this license agreement to be available in the first half of 2008.
Mad Catz continues to align itself with popular games and I think acquiring the license for Rock Band is a smart move. The Rock Band game is similar to Guitar Hero which has been highly successful for Activision (ATVI). If Rock Band attains even a little bit of the success that Guitar Hero has had it should be a popular title.
I am surprised the stock price of Mad Catz finished flat on the day but the general unease of the broader markets has weighed on Mad Catz for a while. Mad Catz’s share price is overdue for a pop and the company is coming into its strongest quarter so I would continue to hold your shares.
Disclaimer: I have no position in MCZ.
CAAS Plans to Acquire 36.5% of Henglong Automotive Parts Company
CAAS - China Automotive Systems (Nasdaq) - (Closing Price - $8.28)
China Automotive Systems announced that it has started discussions with Hubei Wanlong Investment Co. to acquire an additional 36.5% of Henglong Automotive Parts Company.
China Automotive Systems currently owns 44.5% of Henglong Automotive Parts Company. In 2006 Henglong posted sales of USD$54.54 million, representing 57% of China Automotive Systems’ total net sales and net profit of USD$9.75 million, while CAAS’ net profit was USD$4.81 million. Acquiring a bigger portion of Henglong will obviously be beneficial.
I don’t see any reason to sell China Automotive Systems and I would continue to hold your shares. According to Yahoo Finance the insider sells that were weighing on the stock price have stopped and there was even an insider buy on Dec. 3. (more…)
China Automotive Systems Announces U.S. Aftermarket Deal
CAAS - China Automotive Systems (Nasdaq) - (Closing Price - $8.41)
China Automotive Systems reported an almost twenty percent gain today after the company announced it signed its first aftermarket supply contract in the U.S. with aftermarket supplier Dorman Products Inc.
Financial terms were not disclosed.
This contract is obviously a positive development for China Automotive Systems and I would recommend to continue holding your shares. The stock price of China Automotive Systems has shown the ability to make strong runs in the past so I would see how it plays out over the next few days.
Disclaimer: I have no position in CAAS.
Free Stock Picks
If you do a search for free stock picks in Google you will find that most of the top sites listed are not very relevant to those keywords. They just happen to have those keywords or a variation of those words on their pages.
Even though I have a tremendous amount of free stock picks and stock market advice on my website I don’t have a post that specifically mentions those words. This post is meant to fix that.
If you found this website by searching for free stock picks then you have come to the right place. My website is loaded with stock market commentary and stock recommendations.
DTLK - Buy Recommendation
DTLK - Datalink (Nasdaq) (Closing price on Friday, 11/30/07 - $4.29)
Datalink has had a couple of rough quarters since my initial recommendation but the company returned to profitability last quarter and gave decent guidance for next quarter.
In Q3 of 2007 Datalink reported revenue of 45.9 million and earnings per diluted share of $0.07. Revenues were up sequentially and Datalink reported its first profit since Q4 of 2006.
For the upcoming quarter Datalink gave guidance for revenue between 47 and 52 million and EPS between $0.06 and $0.11. Datalink reported that their backlog was down to 25 million from 30 million in the previous quarter. However, the CEO stated he was “cautiously optimistic that we will see more aggressive storage spending … as many of our customers take advantage of the availability of year end budget dollars”. (more…)
Sierra Wireless Update
SWIR - Sierra Wireless (Nasdaq) (Closing Price - $16.71)
Sierra Wireless has reported two very nice quarters since my last update and the company has given strong guidance for the upcoming quarter. However, the stock price has sold off recently on competitive fears.
Sierra Wireless reported revenue of 107.4 million and earnings per diluted share of 0.25 in Q2 of 2007. Revenues were up almost 100% year over year and EPS was up 67% year over year. Revenues and earnings also improved considerably from the prior quarter.
In Q3 of 07 Sierra Wireless reported revenue of 111.5 million and diluted EPS of 0.33. Once again the financial numbers were huge improvements year over year and EPS rose nicely over the previous quarter. (more…)
New Stock Pick: Silicom Ltd. (SILC)
SILC - Silicom Ltd. (Nasdaq) (Closing Price on Friday - 11/23/07 - $14.07)
Silicom Ltd. is a company that has experienced strong growth over the last couple of years but has sold off recently after a flat quarter. I think the drop in share price has been way overdone and now would be a good time to buy some shares.
Silicom Ltd. engages in the design, manufacture, marketing, and support of connectivity solutions for a range of servers and server-based systems in Israel, the United States, and internationally. It primarily manufactures server networking cards with and without bypass (Server Adapters), and legacy products, including connectivity solutions for portable personal computers and broadband Internet access products. (more…)
Madcatz - Q2 2008 Earnings Report
MCZ - Mad Catz Interactive (American Stock Exchange) - (Closing Price - 1.08)
Mad Catz Interactive reported moderate results for their fiscal 2008 second quarter and they announced the acquisition of Saitek, a PC games peripheral provider.
In the second quarter Mad Catz Interactive posted earnings of 0.02 per diluted share on revenues of 16.9 million. Revenues were down 35% from the second quarter of last year due to the “culling process to reduce low-margin product placement, the continuing impact of the console transition and strong software sales in the year-ago quarter attributable to Real World Golf 2”. Net income of 0.9 million and earnings per share of 0.02 were “both record levels for Mad Catz’ fiscal second quarter.” (more…)
CAAS - Still a Buy
CAAS - China Automotive Systmes (Nasdaq) - (Closing Price - $6.40)
China Automotive Systems has posted a couple of strong quarters since my initial buy recommendation but the stock price has been inconsistent.
In Q2 of 2007 China Automotive Systems reported revenue of 36.31 million and earnings per diluted share of 0.10. CAAS’s revenue and earnings in Q2 were considerable improvements both sequentially and year over year.
In Q3 of 2007 China Automotive Systems reported revenue of 31.20 million and earnings per diluted share of 0.11. Revenues were up year over year but down sequentially due to seasonality of the Chinese passenger vehicle market. Earnings per share however improved both sequentially and year over year. (more…)
JADE - Cover Recommendation
JADE - LJ International (Nasdaq) (Closing Price - $6.76)
LJ International still has not released an earnings report since they reported their third quarter earnings report last year. They issued a press release on June 28 stating that they were changing their auditor and that they would issue their annual report on July 16. However, they did not report their annual report by that date and to my knowledge they have not given a new date of when they will file their annual report (not to mention the Q1 and Q2 reports from this year).
When LJ International missed the extended deadline of July 16 to file their annual report they were no longer in compliance with NASDAQ requirements and they became in danger of being delisted from the exchange. Consequently, the stock price suffered a huge drop last month and the stock price is currently trying to find support in the six dollar range. (more…)
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