Clearwire, a Kirkland, Wash.-based provider of wireless broadband services, said in the regulatory filing with the Securities and Exchange Commission that the selling will begin on Friday, and that Intel expects the divestiture is part of the periodic re-balancing of its equity portfolio and that it anticipates the sales will yield tax benefits.
Dynavox (DVOX) was a standout gainer in late trades after its fiscal third-quarter report topped Wall Street's expectations.
The Pittsburgh-based maker of communication and education products for people with learning disabilities posted an adjusted pro forma profit of $2.6 million, or 9 cents a share, in the three months ended April 1, on sales of $28.7 million.
The average estimate of analysts polled by Thomson Reuters was for earnings of 6 cents a share on revenue of $25 million.""In spite of the ongoing macroeconomic challenges, during the third quarter we saw some signs of improvements and our consolidated top line was roughly equal to the last year," said Ed Donnelly, the company's CEO, in a press release. "Sales trends across both devices and software provide validation of our efforts to adapt to the environment as well as the fact that the demand for our products and services remains intact." Donnelly added that the company is "encouraged" by the sequential increase in its U.S. device business. Dynavox also forecast adjusted pro forma earnings of 21 to 27 cents a share for fiscal 2011 with adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] of between $19 million to $23 million. The company now sees a net sales decline of 6% to 8% for the year, an improvement from a prior projection for a drop of 10% to 15%. Other stocks moving in late trades included Zipcar (ZIP), which ticked lower after the vehicle sharing services provider posted a first-quarter loss of $6.1 million, or 95 cents a share, wider than a year-ago equivalent loss of $5.3 million; and Sina Corp. (SINA), which gained 2% to $122.50 on volume of more than 500,000 after the Chinese online media company forecast healthy sequential growth in its non-GAAP revenue to $112 million to $115 million in its fiscal second quarter. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV