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| Mon, Mar 17, 2008 | ||
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Zacks Analyst Blog Highlights: Avici Systems, Nortel Networks, Extreme Networks and AT&T - Business Wire | |
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Soapstone Networks to Ring NASDAQ(R) Closing Bell in Celebration of the Name and Ticker Symbol Change From Avici Systems - Marketwire | |
| Mon, Mar 03, 2008 | ||
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Zacks Bull and Bear of the Day Highlights: Rockwell Automation, Avici Systems, FTI Consulting and Arena Pharmaceuticals - Business Wire | |
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Extreme Networks and Soapstone Networks Showcase Joint Carrier Ethernet Solution at CeBIT
Carrier Ethernet Demo Highlights Dynamic Provisioning of Services Across Extreme's PBB-TE Switches
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Marketwire
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| Thu, Feb 28, 2008 | ||
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Avici Systems Reports Fourth Quarter and Full Year 2007 Results - Marketwire | |
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| Thu, Feb 28, 2008 | ||
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Unusual 11 Mid-Day Movers 2/28: EOG, HURC, VISN, CRM Higher; WPL, RHD, SEED Lower
Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=3411808 for the full story.
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StreetInsider
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Pre-market: Origin Agritech, Avici Systems and Synaptics lead small-cap volume
Origin Agritech Ltd. (
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SmallCapInvestor.com
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Hurco Companies, Avici Systems and Netezza lead small-cap percentage gainers
Hurco Companies, Inc. (
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SmallCapInvestor.com
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| Mon, Dec 10, 2007 | ||
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Cisco Confirms AT&T Core Win
As Light Reading reported back in April, AT&T has picked Cisco as its new core router supplier
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Light Reading
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| Thu, Oct 18, 2007 | ||
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Triad Guaranty, NovaStar Financial and Avici Systems lead percentage losers
Triad Guaranty Inc. (
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SmallCapInvestor.com
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| Mon, Feb 25, 2008 | ||
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The Greek's Week Ahead - Stagflation or ETF Capital Flow Perversion?
Despite a rocky ride last week, stocks ended up pretty much where they started the period. The activity was symbolic of the overriding confusion that pervades the market today. Investors are faced with a conundrum. While they attempt to gauge the economic condition, forecast its future and anticipate stock market action, they also have to contend with a rare phenomenon. You see, in times of economic deterioration, price pressure typically eases as a natural consequence. However, while the broad indices including the Dow Jones Industrials, S&P 500 and Nasdaq are well off their October 2007 highs, commodity prices are breaking records. That’s unheard of! Actually, it’s not, but it’s rare. Stagflation is the term for it, and it reared its ugly head from the murky depths last week. The Philadelphia Federal Reserve Index, which measures Philly area manufacturing, posted a negative 24.0 reading. This matched the weak figure seen in the New York manufacturing sector not long before. The news was not so troubling in isolation, or at least not surprising, but it became disconcerting when the Philly Fed reported its manufacturers continue to see input price increases and also continue to raise their own prices, despite product demand softness. Investors have a choice between two devils though. If manufacturers do not pass through price increase, their margins get squeezed and they must consider more significant cost consolidation in the form of plant closures and layoffs. Perhaps signifying that they have borne all they could, prices are now rising on the consumer level. Manufacturers are already right alongside housing in terms of the rate they have been shedding jobs. Price increases are manifesting in the food industry and across manufacturing now. Last week’s reporting of the Consumer Price Index only confirmed what we have seen anecdotally, as prices increased more than expected in January. So what’s so scary about this Greek? Well, the Federal Reserve is in the process of cutting interest rates with a goal to inspire economic expansion. By lowering rates, the cost of borrowing decreases and things are supposed to get easier for everyone. Of course, after the subprime debacle, lenders have otherwise tightened lending standards. Still, rate cuts lower the cost of capital for corporations and are a positive for their share values, usually. What’s different this time, or what’s thought to be different, is globalization has reached a critical threshold, and economic decoupling has set forth. Now, developed markets are still tightly tied to America, and that’s why the U.K. and Europe are seeing similar slowdowns to ours. However, in the large emerging markets of India, China and others, domestic market demand has gained traction. Even as the United States slows, these important consuming populations, driven by an emerging middle class, continue draining global commodity resources. Capital Finds Profit While The Greek believes this unique change is playing a role, we also expect capital flows are exacerbating that impact. Capital finds profits you see, and with the availability of new exchange traded funds (ETFs), more investors can now participate in commodity investment. As a requirement, many of these funds must own the underlying commodity, and investor demand in ETFs drives substantially higher and synthetic demand for the commodities. The Greek believes an important cure for this potential driver of stagflation or hyperinflation will have to be increased regulation of ETFs. Otherwise, the return of high interest rates driven by inflation could stymie the global economy and even eventually lead to wars over basic resource supplies. The Week Ahead The coming week will offer key housing, consumer and producer data to swallow. Monday Existing home sales are set for Monday report and new home sales for Wednesday. Recent market reaction to housing data has been one indicative of overriding bearish sentiment. Investors have come to expect poor results, and do not generally penalize home builders or the broader market for weak information any longer. This sets the stage for upside surprise eventually, but it’s still early for that in our view. Bloomberg's survey of economists pegs existing home sales for January at an annual pace of 4.84 million, compared to 4.89 million in December. The Fed goes on parade this week, and Governors Mishkin and Kroszner will serve as Co-Grand Marshals. The two will take separate podiums on Monday. The day's most noteworthy earnings reports include Healthcare Realty Trust ( The remainder of the earnings schedule includes FirstEnergy ( Tuesday The Fed parade continues on Tuesday, when Fed Vice Chairman Donald Kohn grabs a microphone. Remember it was Kohn who set the pace when Bernanke seemed lost in neutrality. The Producer Price Index for the month of January will hit the wires on Tuesday, but this news should reflect what we have already seen from regional Fed districts. Also, last week’s CPI report was more important, in our opinion, as it showed the prices borne at the consumer level. Still, January's PPI is expected to show an increase of 0.3%, and to post a rise of 0.2% when excluding food and energy price change. The International Council of Shopping Centers will post its weekly same-store sales figure on Tuesday morning. Growth accelerated a bit in the prior week's report, up to 1.9% year-over-year. Consumer confidence will be measured on Tuesday through the Conference Board’s survey of February. The consensus is looking for a measure of 81.3 this time around, versus 87.9 in January. As confidence and consumer spending ease, we've been expecting tough times to befall retailers, and they have. Sharper Image ( Some of the other earnings reports you will want to prepare for include DISH Network ( Wednesday The Fed parade climaxes Wednesday and Thursday when Chairman Bernanke addresses the House Financial Services Committee and the Senate Banking Committee in successive order. Durable Goods Orders for January are set for Wednesday release, and are expected to show a significant drop-off of ordering activity. Bloomberg's consensus is looking for a 3.5% decrease in orders month-to-month. New home sales for January are seen setting a slightly lower mark, to an annual pace of 600K. This compares to 604K in December. Wednesday also of course brings the regular reports on mortgage activity and petroleum inventory. Both matter this time around. With long rates rising and spreads widening, recently decent mortgage activity could now find a brick wall. Oil prices have risen despite large inventory building. Rumblings out of OPEC about a possible March production cut may be aiding that a bit, and certainly the Turkish incursion into Northern Iraq and refinery explosion in the U.S. helped support prices last week. As this past news gets older, we have to wonder how oil prices can hold up. T. Boone Pickens, for one, also sees oil prices softening from here. Or, is inflation the key catalyst now, and if Iran continues to defy the U.N., perhaps the floor is not too far a trip. Wednesday's earnings slate includes Aqua America ( Thursday GDP for the fourth quarter will be re-reported, adjusted after the advance report showed just 0.6% growth. A significant revision higher or lower would be important to the stock market. The consensus is looking for a slight increase to 0.7%. Weekly initial jobless claims have been trending higher, and the four-week moving average jumped more than 10K last week. Bloomberg's consensus is looking for a small increase in the weekly figure to 350K. The natural gas report should arrive just on time Thursday at 10:30. Natural gas, which had been lagging oil as stocks filled, has had a noticeable increase of late. At $9.32/MMBtu, a spike is forming. Thursday's earnings include AIG ( Friday Just when you thought the Fed was out of gun power, Atlanta Fed President Lockhart addresses subprime mortgages. Consumer confidence will be measured for the second time this week through Friday’s reporting of February confidence by the University of Michigan. Bloomberg's consensus sees confidence inching higher to 70.0, from 69.6 in January. Perhaps the most important report of the week, Personal Income and Outlays for January will be posted on Friday morning. The market will be concerned about both figures, with income hoped to be moderate and indicating a non-threatening wage inflation scenario. Personal consumption of course will help investors gauge how well the consumer is holding up. In January, weekly same-store sales data recorded by the International Council of Shopping Centers was relatively weak, so the same news should be found in personal outlays. Perhaps the most important piece of information from the report will arrive in the PCE Deflator, the pricing gauge viewed most important by the Federal Reserve. The Fed targets a rate between 1-2%, but will likely tolerate a higher rate if necessary in times of economic strife, according to member white papers. The market probably doesn't remember that fact though, so watch out. After sad news from both Philly and New York area manufacturing, the National Association of Purchasing Managers - Chicago, is expected to show the Midwest teetering on the fence of contraction and expansion. Bloomberg's consensus is projecting a measure of 50.0 for February. With commodity prices rising across the spectrum, the Farm Prices Report at 3:00 p.m. Friday should not be overlooked. Friday's earnings include Petrobras ( We hope we have provided another valuable weekly market-moving event planner, and suggest checking in with us during for our daily previews. Help us grow our grass roots effort by visiting the site, clicking the small envelope at the bottom of this article and sending notice to your friends about the Wall Street Greek value add. Receive Wall Street Greek FREE via email by subscribing here . ( disclosure ) 
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| Mon, Oct 15, 2007 | ||
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The Greek's Week Ahead - The Growth Hoax
The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week.
At times like these, when the Fed seeks to stimulate economic growth, the sector that should benefit most is growth oriented and "low quality" shares in our view. However, we view the current market environment illusory, and providing a sort of growth hoax that we expect will be exposed after the Fed's Halloween meeting. Expansionary measures are meant to help firms find capital to finance growth at times when a little extra incentive is useful. In that type of environment, the firms that benefit most are the ones financing growth in ways other than through the use of operating cash flow. These are riskier firms, the kind without earnings but with high hopes and debt. At the risk of getting too technical... They benefit also because most, if not all, of their value is found in the terminal portion of the discounted cash flow model, the part outside of the forecast period and most sensitive to changes in cost of capital. In the period after the start of the Fed's most recent expansionary spurring, you remember the one after the tech bubble burst in 2000-2002, there was an initial premature market rebound before the realization of a tough environment sent stocks lower. However in 2003, when it was clear Fed support would help the economy find traction, it was the "low quality" shares that outperformed. That period taught me a lesson that I noted well. I learned that lesson as I watched a sell recommendation rise ahead of many of my better run "buy" names. That sell idea that burned the painful, though useful, memory into my young analytical skull was FuelCell Technology ( The current period is considered by many, if not most, as one characterized by the start of Fed expansionary efforts, and this may be behind the outperformance of "riskier" industries of late. For instance, the S&P Biotechnology group is up 10.3% in the 13 weeks through October 5. Over that same 13 week period, the Information Technology sector (+4.9%) is second in performance only to energy (+5.5%), but $80+ oil has a lot to do with that sector's leadership. I believe the rug (or ruse) of Fed bias is about to be pulled out from under the market. If this latest Fed maneuver is representative of a "one and done" type move, as I outlined on the day of the cut, then the current market run may be short-lived for these names. The hoax would be exposed and the old favorite defensive names would come back to favor, while riskier stocks would lose their luster just as they were starting to polish up. The way to play this sometime between my publishing of this article and a week ahead of Halloween, is to go short the industries that got hot around the cut, and long the names that got cold around that same time. Now let's take a look at the week ahead... Outside of earnings season revving up into full swing, a rather light event week kicks off Monday with the 8:30 a.m. EDT reporting of the Empire State Manufacturing Index. The October measure of the state of manufacturing in the New York area is seen reaching 12.5 in October, down from September's reading of 14.7, according to Bloomberg's consensus of economists. Last month's figure was a significant disappointment, with expectations for a reading of 20. The day marks the debut of CNBC's new formidable rival, the Fox Business Network. Markets will be closed in Argentina, Chile and Columbia, marking Columbus Day. I guess it took him a few more days to discover South America? Did you know he landed first in the Bahamas? In the evening, Ben Bernanke will keep some economists attuned to the wire as he speaks to the Economic Club of New York, no doubt over a New York strip steak. Monday's earnings slate is headlined by Citigroup ( Others reporting on Monday include Alfacel (
In light of the approaching Federal Open Market Committee meeting on Halloween, be sure to catch Tuesday's weekly same-store sales report from the International Council of Shopping Centers-UBS. Last week's report showed very soft year-to-year sales growth of just 2.1%, and the retail sales report for September showed misleading strength inflated by transactions of expensive gasoline and unexplained auto sales improvement.
Industrial Production for the month of September is expected to increase 0.1%, according to Bloomberg's consensus. That's down from last month's 0.2% increase and July's 0.3% growth. Economists are still figuring out whether this trend is indicative of cautious production ahead of softening domestic end-demand, or change driven by real economic downturn today. Capacity utilization is seen slipping just modestly though, to 82.1% from 82.2%. Treasury International Capital for the month of August is set for report Tuesday. Foreign demand for long-term U.S. securities dipped in the last report to $19.2 billion in July, from $120.9 billion in June. With the dollar sinking, one would expect September's report to show up weak, no matter what happened in August. This is likely something the Federal Reserve will pay attention to, and certainly the Treasury Secretary will. Speaking of the dollar, the Bank of Canada is set to decide what to do with its interest rates, and given signs of Canadian economic weakness cited in the FOMC meeting minutes released last week, we would not expect action detrimental to the U.S. dollar relationship. The National Association of Homebuilders' Housing Market Index is expected to set a new all-time low in October, according to Barron's and Lehman Brothers, after its recent record breaking bottom of 20 in September of this year. Tuesday's earnings report schedule will be headlined by a couple of tech giants, as Intel ( The rest of the day's earnings reporters include A.O. Smith (
On Wednesday, we'll get a look at how higher producer prices may have impacted consumer prices. It's more likely that higher energy prices found their way into the Core CPI figure than they did in the Core PPI, reported last week up just 0.1%. The headline PPI measure was up 1.1% on changes in food and energy prices. Regarding the September CPI metric, Bloomberg's consensus expects a 0.2% increase across the board. While it's not the Fed favored metric, pay close attention to whether the year-over-year CPI growth fits into the Fed tolerable range of 1%-2%. September Housing Starts are expected to fall to a 1.3 million annual pace, down from August's 1.33 million, thus continuing the well-documented slide of housing. On that note, the Mortgage Bankers Association makes its regular Purchase Applications report early Wednesday, but it will likely be muted by the more important Housing Starts data. With oil rising against all odds, at least on the Greek's book, the EIA will report its regular inventory data at the usual 10:30 time. You would think that with the economy slowing, oil prices should trim some fat, but as the dollar weakens, the relative value of commodities rise. At 2:00 p.m. the obscure sounding but actually important Beige Book will display a compilation of the Fed's regional reports. Much can be gleaned here about how the Fed is thinking heading into the Halloween meeting. We may get some anecdotal evidence about the state of employment on Wednesday, with the simultaneous earnings reports from Labor Ready ( The remainder of Wednesday's earnings reports include Abbott Labs (
On Thursday, Weekly Initial Jobless Claims are seen measuring 312,000 in the Labor Department's latest reporting. Last week, the list of new benefits filers amounted to 308,000. Remember, this list does NOT include old slaves to the corporate box, who have been recently converted to babble producing bloggers in an empty box, like muah? Hey, if you can't laugh at yourself, then you probably have not made a blog post at 3 a.m. yet! The Conference Board will produce its Leading Indicators Index still too late for the Fed to use in its new effort to predict economic change (God bless em). The month-to-month change in the figure is expected by Bloomberg's consensus to show increase of 0.3% in September, after a 0.6% decrease in August. The EIA Natural Gas inventory report is due at 10:30, while hurricane season comes to an end. At noon, the Philly Fed Index should show Philadelphia area manufacturing sentiment decreased versus the prior month. Bloomberg published a consensus estimate for a reading of 7.0 this time around, compared to 10.9 in September. Thursday is the day Google ( The remainder of Thursday's earnings schedule includes A. Schulman (
China's H-Shares get a day off, as the Hong Kong market is closed on Friday. The Group of Seven finance minsters is set to meet in Washington at the end of the week, and many experts are anticipating pressure on Treasury Secretary Paulson to do something about the troubled dollar. William Poole and Ben Bernanke will address a group together on Friday, as they discuss "Monetary Policy Under Uncertainty." We wonder if Mr. Poole will define his usage of the word "calamity" and if he understands now when and when not to use such language. Reporting earnings at the week's close, look for news from Dow global growth stories, Caterpillar ( If you would like to advertise in the space below our articles, we are now offering tailored plans, including assistance in ad design. Contact us at WallStreetGreek@gmail.com to find out more. (disclosure) 
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| Fri, Jul 27, 2007 | ||
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Through The Fly's Eyes: Avici Systems
Larry Schutts is a contributing editor for
Theflyonthewall.com
and the Vice-President of
Stockwinners.com
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Theflyonthewall.blog
Avici Systems: Serving Internet Service Providers Whether it's in the carrier-class router business, or their upcoming network software specialty, there is a North Billerica, Massachusetts outfit that is in there pitching. The company provides IP solutions to some of the world's leading service providers. Avici Systems (AVCI) provides high-speed data networking equipment that enables service providers to transmit data, voice, and video. The firm's Terabit router transmits large volumes over core fiber-optic communications networks. Other models are used by service providers with smaller core networks. The company is in the process of phasing into the network management software business. Avici has a technology partnership with Intel (INTC) and is a preferred supplier of IP core routers for Nortel Networks (NT). Alcatel-Lucent (ALU), Cisco Systems (CSCO) and Juniper Networks (JNPR) are competitors. The company pleased investors last week, when it reported Q2 EPS of 81 cents and revenues of $29.6 million. Analysts had been expecting 21 cents and $15.8 million. Management also guided FY07 revenues to $110-125 million ($60.16 million consensus). The stock popped on the news and is now forming a bullish "flag" consolidation pattern. Prices frequently exit flags moving in the same direction they were traveling when they entered them. In this case, that would be to the upside. Analysts see a 20% average annual growth rate, through the next five years. The AVCI P/E ratio (7.55), Price to Sales ratio (1.83), Price to Book ratio (2.03), Price to Cash Flow ratio (5.87), Price to Free Cash Flow ratio (8.58%), EPS Growth rate (202.18%), Operating Margin (20.60%), Net Profit Margin (23.95%), Return on Assets (24.70%), Return on Investment (32.48%), Return on Equity (32.48%) and Net Income per Employee ($196k) compare favorably with industry, sector and S&P 500 averages. Institutional investors hold about 71% of the outstanding shares. Over the past 52 weeks, AVCI has traded between $6.47 and $13.96. A stop-loss of $9.10 looks good here. |
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| Thu, Jul 19, 2007 | ||
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Premarket Movers
UP Avici Systems Inc. Cubist Pharmaceuticals, Inc. Basin Water, Inc. Citrix Systems, Inc. Juniper Networks, Inc. DOWN NVE Corporation Vulcan Materials Company Pacific Ethanol Inc UnitedHealth Group Inc. Logitech International SA (USA) Swing Trading, Technical Analysis, Daily Stock Market Commentary. |
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| Fri, Jul 20, 2007 | ||
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Micros Report, 19 July 2007, Segment 1 and 2 (Video)
The Micros Report is the only LIVE IPTV feed dealing with financial news focused expressly on microcap investment analysis, and it streams to every area of the world. Hosted by Mike “the Analyst” Willingham and "Forex" Rick Wright, The Micros Report provides traders, brokers, investors, and market makers the necessary information to trade intelligently in the penny stock market.
Segment 1:
Segment 2:
For more information, visit www.microsreport.com and www.mn1.com Related Entries:
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| 02/15/07 |
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Q4 2006 Earnings
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