Science & Technology
Science and Technology
Science and Technology
Thu, June 10, 2010
Wed, June 9, 2010 
CHICAGO--([ BUSINESS WIRE ])--[ Zacks Equity Research ] highlights Atmel Corporation (Nasdaq: [ ATML ]) as the Bull of the Day and CONMED Corporation (Nasdaq: [ CNMD ]) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Apple Inc. (Nasdaq: [ AAPL ]), Nokia Corp (NYSE: [ NOK ]) and Research In Motion Inc. (Nasdaq: [ RIMM ]).
Full analysis of all these stocks is available at [ http://at.zacks.com/?id=2678 ].
Here is a synopsis of all five stocks:
[ Bull of the Day ]:
There are a number of positives associated with Atmel Corporation's (Nasdaq: [ ATML ]) ongoing restructuring program (selling non-core wafer fabrication operations, consolidating or eliminating numerous product lines and reducing the workforce by nearly 25%).
We expect meaningful results from these actions later this year. While focusing on improving its cost structure, Atmel must deal with price erosion in key product markets and face the challenges of manufacturing new products on advanced technologies.
Nevertheless, with the economy showing signs of recovery, we expect demand to pick up going forward. In anticipation of strong results in 2010, we reiterate our Outperform rating on the stock.
[ Bear of the Day ]:
CONMED Corporation (Nasdaq: [ CNMD ]) competes in the orthopedic surgery markets against much larger companies that possess substantially more assets. However, a large percentage of CONMED's products are designed for minimally invasive surgery, a trend that is popular currently.
However, the orthopedic industry is highly susceptible to economic turbulence, and CONMED is not an exception. Furthermore, the tremendous competitive pressure and the advent of GPOs force us in lowering both our revenue and earnings per share estimates for fiscal 2010 and 2011.
At the current price, CONMED is trading at a P/E of 15.9x our fiscal 2010 EPS estimate of $1.21, compared to the peers' mean of roughly 19.1x. We downgrade the stock to Underperform based on our lower revenue and earnings per share outlook with a target price of $18 based on a P/E of roughly 14.9x our fiscal 2010 EPS estimate.
Latest Posts on the Zacks [ Analyst Blog ]:
Applea™s iPhone 4 Out Soon
Shares of Apple Inc. (Nasdaq: [ AAPL ]) are up since its release of its fourth generation iPhone 4 at the WWDC 2010 event.
Applea™s products have huge followings, and new products launched have a strong track record of success. In our opinion, the new iPhone will be another milestone achievement for the company, helping Apple continue on the growth path.
Apple is widely recognized as a leading innovator in the consumer electronics market, with a dominant position in the U.S. smartphone market.
The launch of a fourth generation iPhone is expected to further strengthen Applea™s position. Applea™s share of the global smartphone market reached 15.8%, and the company ranks No. 3 behind Nokia Corp (NYSE: [ NOK ]) and Research In Motion Inc. (Nasdaq: [ RIMM ]), according to research firm IDC.
Wall Street expects Apple to sell a total of about 36 million iPhones in fiscal 2010, which is a whopping 80% increase from over 20 million iPhone units sold in fiscal 2009. Apple has been reporting triple-digit growth in iPhone sales, driven by strong international demand for smartphones, as well as the addition of new carriers in key overseas markets. It is expected to sell its 100 millionth iPhone this month.
Total iPhone sales represented approximately 40% of the companya™s total revenue last quarter, and we expect the new iPhone to boost the companya™s long-term earnings power.
Get the full analysis of all these stocks by going to [ http://at.zacks.com/?id=2649 ].
About the Bull and Bear of the Day
Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.
About the Analyst Blog
Updated throughout every trading day, the [ Analyst Blog ] provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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