This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks to Watch: Blue Coat, Lattice (Update 1)

Stocks in this article: TXN TM CSTR VZ ALTR BCSI LSCC

NEW YORK ( TheStreet) -- Blue Coat Systems (BCSI), the Web security company, said Friday it agreed to sell itself to an investor group led by private-equity firm Thoma Bravo for about $1.3 billion in cash.

Under the deal, Blue Coat shares are valued at $25.81 a share, a premium of about 48% to the stock's closing price Thursday.

The stock was rising 45.6% to $25.45 in premarket trading Friday.

Lattice Semiconductor (LSCC), the chipmaker, reduced its fourth-quarter revenue outlook because of softer demand in its communications business.

Lattice said Friday it expects revenue to fall 14% to 17% on a sequential basis, worse than an earlier forecast of a 4% to 9% drop.

Lattice shares fell 4.9% to $6.27.

Texas Instruments (TXN) cut its financial forecast for the fiscal fourth quarter, saying business is bad everywhere except for wireless processors.

The chip company said it now sees earnings of 21 cents to 25 cents a share for the quarter ending in December, with revenue expected to range from $3.19 billion and $3.33 billion.

The company's previous outlook was for fourth-quarter earnings of 28 cents to 36 cents a share on revenue of $3.26 billion to $3.54 billion in the quarter.

Analysts expect profit of 48 cents a share in the quarter on revenue of $3.41 billion.

Texas Instruments shares fell 6% to $28.12 in premarket trading Friday.

Toyota (TM) cut its earnings forecast for the fiscal year ending in March because of a strong yen and massive flooding in Thailand that disrupted parts supplies.

Toyota, Japan's No. 1 automaker, expects fiscal-year profit of 180 billion yen ($2.3 billion), down 54% from projection of 390 billion yen it made during the summer. Toyota estimates revenue of 18.2 trillion yen ($234.36 billion), down from prior guidance of 19 trillion yen.

Toyota said Friday it expects to sell 7.38 million vehicles worldwide this year instead of a prior projection of 7.6 million cars.

Toyota was down 34 cents to $66.79.

Altera (ALTR) lowered its revenue outlook for its fiscal fourth quarter, citing widespread weakness from both small and large customers and across all geographies except North America.

The chipmaker said it now sees a sequential revenue decline of 13% to 16% in the quarter ending in December, a deeper drop than its prior projection of 7% to 11% from the third-quarter total of $522.5 million.

Analysts polled by Thomson Reuters expect for revenue of $475 million in the December-ending period, implying a sequential decline of 9%.

Altera shares declined 4.1% to $34.01.

Coinstar's (CSTR) Redbox is reportedly teaming with Verizon (VZ) on a "Netflix-killer."

Reports first surfaced earlier this week that Verizon was working on a service outside of its FiOS cable network area to take on Netflix (NFLX) in online streaming.

According to TechCrunch, a Verizon-RedBox service would offer streaming of movies and TV shows in both standard and high definition to a number of devices. The launch is planned for May 28, 2012, TechCrunch said.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:

Related links:

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs