Semtech shares hit two-year low after company lowers Q3 guidance
Camarillo-based Semtech produced record revenue and earnings in the second quarter of 2022, but its shares plummeted 27% the day after its earnings release after the company’s guidances for the third quarter were well below analysts’ expectations. Semtech, a semiconductor company specializing in Internet of Things applications, saw its net income increase in the second Read More →
Amgen reports pair of positive clinical trial results
Amgen announced positive results from clinical trials of two separate drugs in late August. On Aug. 30, the Thousand Oaks-based biotech giant said its Phase 3 trail evaluating daily oral doses of Lumakras, a treatment for non-small cell lung cancer, “met its primary endpoint of progression-free survival” and demonstrated statistically significant superiority over the current Read More →
Portfolio Watch: Don’t turn away from value stocks just yet, says UBS
• UBS writes that despite the recent rally in the S&P 500, it may not be time to shift away from a value orientation in picking equities. In a weekly update it tells investors that while “growth stocks have rallied sharply” from mid-June lows, “lingering uncertainty around inflation” and Fed moves “point toward further outperformance Read More →
Dole earnings up in Q2, but company again cuts full-year guidance
Westlake Village-based Dole beat analysts’ expectations when it reported positive earnings per share for the second quarter on Aug. 23, but the company also slashed its guidance for revenue and earnings for the full year. Dole, one of the largest fruit and vegetable producers in the world, is dually headquartered in Westlake Village and Dublin, Read More →
Portfolio Watch: Time for a European vacation?
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Transphorm reports shrinking loss, rising revenue
Goleta-based Transphorm just missed analysts’ expectations when it reported its first quarter earnings on Aug. 15. Transphorm, a supplier of gallium nitride power conversion products, reported an adjusted earnings per share loss of 8 cents for the quarter ended June 30, one cent higher than Zacks Consensus Estimate. The company also reported a loss of Read More →
Sientra lowers guidance, shares drop 20%
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