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Beacon Research Issues TraderNotes on CNUV, FEED, FFIV, QCOM, SYMC for January 24, 2008

Today’s TraderNotes include: China Nuvo Solar Energy, Inc. (OTCBB: CNUV), AgFeed Industries, Inc. (Nasdaq: FEED), F5 Networks, Inc. (Nasdaq: FFIV), QUALCOMM Incorporated (Nasdaq: QCOM), Symantec Corporation (Nasdaq: SYMC)

 

China Nuvo Solar Energy, Inc. (CNUV) TraderNote – CNUV Strategically Positioned With its Unique Stacked Solar Technology    

 

China Nuvo Solar Energy, Inc. (CNUV) closed yesterday at 0.108, a slight negative change of 0.002 or a decrease of 1.82% from the previous close of 0.110.  China Nuvo Solar Energy, Inc. is a development-stage company that is designing and plans to soon manufacture solar photovoltaic (PV) cell technology products. The Company holds exclusive worldwide rights to a unique solar cell technology based on photovoltaic cells with integral light-transmitting wave guides in a ceramic sleeve. The advantage of this technology is that less exposed surface area is required to generate electricity.  The Company’s technology offers significant light-trapping benefits compared to conventional solar energy technologies.  It holds rights to solar cell technology relating to a multiple stacked solar cell using wave guide transfers. In December 2007, CNUV entered into a collaboration and development agreement with California-based Pioneer Materials, Inc. (PMI) to establish a pilot development and manufacturing operation in PMI’s existing facility in Chengdu, Sichuan, China.  It recently announced that it has closed and received net proceeds in a funding of $311,900 from a commitment of up to $700,000 pursuant to an investment banking agreement.  The Company intends to use the proceeds to further develop, with a view towards commercialization, its unique stacked solar cell technology for which it currently holds exclusive worldwide license rights.  In yesterday's daily chart, CNUV's RSI indicator reflects a reading of 42.16%, with a neutral inclination.  MACD indicator has readings so far of 0.000 12-day EMA and 0.003 26-day EMA, slightly above the 0 level and the histogram reading at -.003, which must elevate above the 0 level to confirm an upward reversal.  Slow Stochastics indicator with readings of 23.89 %K and 36.24 %D indicate no exhausted condition.  With the present price at .108, CNUV is directed towards a 50% retracement upwards of its two-week range.  If prices stay above the 0.110 level at the end of this session, next trade range may find its way to the significant resistance level of 0.14 which is the higher end of the two-week range. 

 

AgFeed Industries, Inc. (FEED) TraderNote – FEED Opened Its 510th Product Distribution Chain Store in China

  

AgFeed Industries, Inc. (FEED) closed yesterday at 9.20, a slight negative change of 0.15 or a decrease of 1.60% from the previous close of 9.35.  AgFeed is a U.S. public company listed on the NASDAQ Global Market. Through its operating subsidiaries in China, AgFeed is a market leader in China's fast growing premix animal nutrition industry. AgFeed has also entered into China's hog raising industry since 2007 through multiple acquisitions. The premix market in which AgFeed operates is an approximately $1.6 billion segment of China's animal feed market, an industry which generated approximately $40 billion in 2006, according to the China Feed Industry Association.  There are over 530 million hogs raised in China each year, compared to approximately 100 million in the US. Approximately 65% of China's annual meat consumption is pork.  AgFeed announced yesterday that the Company has opened its 510th product distribution chain store in China.  AgFeed also reports strong customer demand from its sales channels since the beginning of 2008.  According to AgFeed's CEO Junhong Xiong, as they rapidly expand into new markets, their retail chain stores will become an effective platform for cross selling AgFeed's and other global companies' agricultural products in China, which should significantly enhance AgFeed's enterprise value over time since they own the distribution channels.  In yesterday's daily chart, FEED's RSI reflects a reading of 48.72%, with the line horizontally oriented indicating a neutral direction.  MACD indicator with readings of 0.091 12-day EMA and 0.101 26-day EMA and histogram reading of -0.011 is almost back to the positive zone.  With yesterday's daily candlestick bar forming a doji star, an upward trend reversal is indicated.  Slow Stochastics indicator has readings of 29.76 %K and 30.42 %D, indicating no exhausted condition.  A break of the 9.50 level in today's session will open up the next trade range to the psychological resistance level of 10.00, which is mid-way to its two-week range.  

 

F5 Networks, Inc. (FFIV) TraderNote – FFIV's Board Approved the Repurchase of up to $200 Million of its Common Stock

 

F5 Networks, Inc. closed yesterday at 20.18, a slight negative change of 0.23 or a decrease of 1.13% from the previous close of 20.41. F5 Networks, Inc. and its subsidiaries engage in marketing, selling, and servicing products that optimize the delivery of network-based applications, and availability of servers, data storage devices, and other network resources. Its products include BIG-IP products that comprise Global Traffic Management and Link Controller; FirePass appliances, which provide SSL VPN access for remote users of IP networks, and applications connected to those networks from various web browser on any device; Application Security Manager, a web application firewall that provides application-layer protection against generalized and targeted attacks; and WebAccelerator that speeds web transactions by individual network object requests, connections, and end-to-end transactions from the browser through to databases. The company serves telecommunications, financial services, technology, manufacturing, transportation, and government sectors. F5 Networks markets its products and services through distributors, value-added resellers, and systems integrators. It has operations in Americas, Europe, the Middle East, Africa, Japan, and the Asia Pacific. Its board has recently approved the repurchase of up to $200 million of its common stock.  The purchases will be made from time to time on the open market or in private transactions, F5 said.  For the first quarter of fiscal 2008, they achieved revenue of $154.2 million within their guided range of $154 million to $156 million. These results reflect 6% sequential growth and 28% growth on a year-over-year basis. Book-to-bill for the quarter was greater than one. Although, revenue was at the low-end of their guided range, they delivered GAAP EPS of $0.21 per share at the upper end of their guidance of $0.20 to $0.21 per share.  In yesterday's daily chart, FFIV's RSI indicator reflects a reading of 31.38% almost confirming an oversold condition upon crossing the 30% level downwards and climbing back through it.  MACD indicator so far is in the bearish zone with readings of -2.268 12-day EMA and -2.042 26-day EMA and histogram reading of -0.226.  Slow Stochastics indicator however, with present readings of 17.38 %K and 11.27 %D, almost indicate an oversold condition to confirm a buying signal upon crossing by the lines back upwards through the 20% level.  With prices hitting the stock's 52-week low at 18.11 last January 22, a significant support level or buying entry point is established in the near term.  

 

QUALCOMM Incorporated (QCOM) TraderNote – QCOM Reported an 18% Increase in Fiscal-first-quarter Net Income and Slightly Boosted its Revenue Forecast for the Fiscal Year

 

QUALCOMM Incorporated (QCOM) closed yesterday at 36.63, a slight negative change of 0.29 or a decrease of 0.79% from the previous close of 36.92.  QUALCOMM Incorporated designs, manufactures, and markets digital wireless telecommunications products and services based on its CDMA technology and other technologies. It operates in four segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), Qualcomm Wireless and Internet (QWI), and Qualcomm Strategic Initiatives (QSI).  QCT segment develops and supplies CDMA-based integrated circuits and system software for wireless voice and data communications and multimedia functions, as well as GPS products used in wireless devices, such as mobile phones, data cards, and infrastructure equipment.  QTL segment grants licenses to use portions of its intellectual property portfolio comprising patent rights useful in the manufacture and sale of certain wireless products, such as products implementing cdmaOne, CDMA2000, WCDMA, CDMA TDD, and GPRS/EDGE and/or OFDMA standards and their derivatives. QWI segment sells equipment, software, and services used by transportation and other companies to connect wirelessly with their assets, products, and workforce; and products that operate on the Globalstar low-Earth-orbit satellite-based telecommunications system.  QSI segment makes strategic investments to promote the worldwide adoption of CDMA-based products and services. QCOM recently reported an 18% increase in fiscal-first-quarter net income and slightly boosted its revenue forecast for the fiscal year.  QCOM yesterday also landed an important chip-purchase commitment from Motorola Inc., which sent share prices higher intra-day.  In yesterday's daily chart, QCOM's RSI indicator reflects a reading of 38.89, with no indication of an exhausted condition.  MACD indicator so far is in the bearish zone with readings of -0.457 12-day EMA and -0.381 26-day EMA, and the histogram reading at -0.076.  Slow Stochastics however is in the near neutral zone with readings of 37.63 %K and 52.90 %D.  With the present price at 36.63, which is 1.46 above the 52-week low of 35.17 hit last January 22, a near-term buying entry point and significant support level is established with an immediate price trend reversal indicated.  

 

Symantec Corporation (SYMC) TraderNote – SYMC's Q3 Revenue Ending December 31 Rose 15% to $1.53 Billion

 

Symantec Corporation (SYMC) closed yesterday at 15.26, a positive change of 0.24 or an increase of 1.60% from the previous close of 15.02.  Symantec Corporation provides software and services for information security, availability, compliance, information technology, and systems performance. It operates in four segments: Consumer Products, Security and Data Management, Data Center Management, and Services.  The Consumer Products segment focuses on delivering the company's Internet security, personal computer (PC) tuneup, and backup products to individual users and home offices. The Security and Data Management segment focuses on providing businesses with solutions for compliance and security management, endpoint security, messaging management, and data protection management software solutions that allows customers to secure, provision, backup, and remotely access their laptops, PCs, mobile devices, and servers.  The Data Center Management segment provides storage and server management, data protection, and application performance management solutions across storage and server platforms. The Services segment assists organizations in managing information technology risk in the areas, including security, availability, performance, and compliance, as well as provides customers with maintenance and technical support, consulting, education, and business critical services.  SYMC recently reported a rise in quarterly profit, boosted by overseas sales, and forecast current-quarter results above Wall Street estimates, sending its shares up 9 percent.  Net income in its fiscal third quarter rose to $132 million, or 15 cents per diluted share, from $117 million, or 12 cents per share a year earlier.  It also reported that revenue, excluding the impact of acquisitions and the expensing of stock options, rose 15 percent to $1.53 billion in the December quarter.  In yesterday's daily chart, SYMC's RSI indicator reflects a reading of 39.38%, directed towards the neutral zone of 50%.  MACD indicator so far reflects readings of -0.466 12-day EMA and -0.474 26-day EMA in the negative zone but with the histogram reading at 0.008 above the 0 level, indicating a weak bearish signal.  Slow Stochastics indicator reflects readings of 23.93 %K and 21.02 %D to confirm an oversold condition upon its crossing the 20% level upwards to signal a buying move.  With prices hitting the stock's 52-week low at 14.54 in yesterday's trading, a significant support level or buying entry point is established in the near-term. 

 

 

Beacon Equity Research Disclosure

 

The analysts contributing to this report do not hold any shares of China Nuvo Solar Energy, Inc. (OTCBB: CNUV).  Additionally the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon Equity Research and its affiliates have been directly compensated nine thousand dollars from a non-controlling third party for enrollment of CNUV in its research program.  This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
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