ARM Holdings plc (ADR) (NASDAQ: ARMH) shares climbed 0.28% to $42.40 in the early hour after Morgan Stanley analyst Francois Meunier cut his rating on the microprocessor IP licensing company to Equal Weight from Overweight. Additionally, Piper Jaffray downgraded ARM Holdings citing valuation and keeps a $40 price target for shares.
QLogic Corporation (NASDAQ: QLGC) shares gained 6.78% to $10.86 after the company said its third-quarter results are expected to exceed previous forecast, due to higher than expected revenue from host products and particularly strong performance from network products. For the third quarter, the company anticipates earnings in a range of $0.14 and $0.15 per share. Adjusted earnings are currently forecast in a range of $0.19 to $0.20 per share, up from $0.14 to $0.19 per share, announced previously. Revenues are currently projected at approximately $119 million. This compares to the previous guidance range of $112 million to $118 million. Analysts currently expect the company to report earnings of $0.17 per share on revenues of $115.09 million.
Cleantech Solutions International Inc (NASDAQ: CLNT) stock jumped 2.11% to $4.40 after the company announced that the Company has received a follow-on purchase order for airflow-dyeing machines from its existing domestic customer. The purchase order provides for Cleantech Solutions to deliver a total of 21 airflow-dyeing machines using the Company's patented production technique, for a total purchase price of RMB 11.8 million (approximately $1.9 million).
Stillwater Mining Company (NYSE: SWC) stock increased 1.33% to $13.70 after the company reported that its mined production of palladium and platinum for the fourth quarter 2012 was 132,500 ounces and for the year 2012 was 513,700 ounces, exceeding the Company's 2012 guidance of 500,000 ounces. Mined production for 2011 was 517,900 ounces. The Company also reported that mine production guidance for 2013 is again projected at 500,000 ounces.
Baidu.com, Inc. (ADR) (NASDAQ: BIDU) stock fell 1.72% to $110.67. The company has teamed up with France Telecom to develop a mobile browser tailored to customers in Africa and the Middle East, a region both companies have prioritized for growth.
Additionally, the company has recently reportedly designed and intelligent recognition program for the Android platform of Google Play. It is slated to release the feature sometime prior last week, as revealed by WantChinaTimes. The app bears resemblance with the Siri voice client offered by Apple.
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