>>> Asian Update

Asian Market Update: RBNZ holds OCR, sending NZD lower; China HSBC final manufacturing PMI deteriorates further

***Economic Data*** - (CN) CHINA JAN FINAL HSBC/MARKIT MANUFACTURING PMI: 49.5 V 49.6E (1st contraction in 6 months) - (NZ) NEW ZEALAND CENTRAL BANK (RBNZ) LEAVES OFFICIAL CASH RATE UNCHANGED AT 2.50%, AS EXPECTED - (NZ) NEW ZEALAND DEC BUILDING PERMITS M/M: +7.6% (fifth consecutive increase) V -5.0%E - (NZ) NEW ZEALAND DEC NET MIGRATION: 2,820 V 2,770 PRIOR - (AU) AUSTRALIA Q4 EXPORT PRICE INDEX Q/Q: -0.5% V -0.2%E; IMPORT PRICE INDEX Q/Q: -0.6% (largest decline in 5 quarters) V +2.0%E - (AU) AUSTRALIA DEC HIA NEW HOME SALES M/M: -0.4% V +7.5% PRIOR; 2013 sales: +14.3%, first year of growth in 5 years - (JP) JAPAN DEC RETAIL TRADE M/M: 0.8% V 0.3%E; Y/Y: 2.6% V 3.9%E; LARGE RETAILERS' SALES: 0.1% V 0.7%E - (JP) Japan investors sold net ¥357.0B in foreign bonds last week (3rd consecutive week of net sales) vs sold net ¥226.0B in prior week; Foreign Investors sold net ¥154.6B in Japan stocks v bought net ¥71.2B in prior week - (JP) JAPAN DEC LOANS & DISCOUNTS CORP Y/Y: 2.2% V 2.6% PRIOR - (PH) PHILIPPINES Q4 GDP Q/Q: 1.5% V 0.8%E; Y/Y: 6.5% V 6.0%E; GDP ANNUAL Y/Y: 7.2% V 6.6%E, V 6.0-7.0% GOVT TARGET

***Observations/Insights*** - Facebook the most notable mover in US extended session, rising over 10% on earnings above $60/shr - a new record high. - Lenovo announced a high-profile deal to acquire Google's Motorola Mobility for $2.9B. Lenovo is down over 8%, while Google rose about 2% in the aftermarket. - RBNZ held rates on hold as expected by majority of analysts. However, with swaps markets at an even-split in expectation of a hike today, NZD was sharply lower on the decision. RBNZ did acknowledge "considerable momentum" for the economy and forecasted growth to be in line with 3.5% GDP in Sept quarter. At the same time, it added that the current high level of FX rate is "unsustainable" in the long run, weighing further on the kiwi dollar. - China final manufacturing PMI print from HSBC declined to 49.5 from 49.6 flash figure, confirming the first contraction in the manufacturing space in 6 months. Even more notable, HSBC report said China's employment sector saw the "quickest rate of job shedding since March 2009." Hong Kong's Hang Seng and Shanghai Composite saw modest losses in the final trading session before the start of the Lunar New Year holiday break. - Nikkei225 hit 11-week lows below 14,900, dragged down by firmer yen.

***Fixed Income/Commodities/Currencies*** - JGB: (JP) Japan MoF sells ¥2.66T in 0.1% 2-yr notes, Avg Yield: 0.083% v 0.086% prior; bid to cover: 7.17x v 6.53x prior - (CN) PBoC won't conduct open market operations (OMO) in today's session, as expected (1st halt in 4 sessions); Injects CNY75B this week v injected CNY375B in prior week - (CN) Daily Shibor fixings; O/N: 4.4350% v 4.8000% prior (2nd consecutive decline); 1-week: 4.9830% v 5.1080% prior - (CN) China Qinhuangdao coal price falls to CNY580-590/t (4th consecutive decline) - GLD: SPDR Gold Trust ETF daily holdings rise 2.1 tonnes to 792.6 tonnes (first rise since Jan 18th)

- Risk-off sentiment stemming from the losses on Wall St, as well as a less hawkish than expected RBNZ statement and soft China PMI, are weighing on AUD and NZD currencies. NZD/USD hit 4-week lows of $0.8170, falling nearly 100pips in the aftermath of the RBNZ overnight cash rate decision. AUD/USD saw its lows right after the China Manufacturing PMI data, trading as low as $0.8710, down 40pips from the highs. AUD/NZD cross is higher on relative NZD weakness, rising to a 1-week high of NZD1.0680. In-line FOMC statement and $10B taper decision gave traders little to latch on to for the most liquid USD majors - USD/JPY traded in a 20pip range above ¥102.10 in the morning session while EUR/USD is down just 15pips from pre-FOMC levels around $1.3650.

***Speakers/Political/In the Papers*** - (CN) Credit Suisse cuts China Q1 GDP target to 7.3% from 7.7% prior - (CN) China PBoC may control M2 growth approx 13% for 2014 - Chinese press - (CN) China local govt to increase state-owned asset securitization amid pressure from unsustainable land financing - Chinese press - (CN) China property companies may be facing financing challenges - Chinese press - (JP) Japan 2014 new vehicle sales expected at 4.85M units -9.8% y/y (1st time below 5M in 3 years) - financial press citing industry body JAMA - (JP) Japan New Komeito party leader Yamaguchi: Excessive yen strength corrected; country is moving away from deflation - address to parliament - (JP) Japan Econ Min Amari: Fall in global equity market indicates difficulty to smoothly end QE in US - (KR) Korea National Oil Corporation (KNOC): 2013 oil consumption fell 0.1% y/y to 826.8M barrels equivalent; First decline in 5 years - Korean press - (KR) South Korea Financial Services Commission (FSC): Fed's decision on tapering is helpful to ease global market uncertainties - (US) Survey finds all 17 US primary dealers expect Fed to cut QE program by additional $10B at Mar meeting - financial press

***Equities*** Market Snapshot (as of 04:30 GMT): - Nikkei225 -2.5%, S&P/ASX -0.8%, Kospi closed, Shanghai Composite -0.5%, Hang Seng -0.5%, Mar S&P500 +0.2% at 1,774, Apr gold -0.1% at $1,261, Mar crude oil +0.2% at $97.54/brl

US markets: - FLEX: Reports Q3 $0.26 adj v $0.23e, R$7.18B v $6.69Be; +12.3% afterhours - FB: Reports Q4 $0.31 v $0.27e, R$2.59B v $2.36Be; +12.1% afterhours - PRXL: Reports Q2 $0.49 v $0.49e, R$574.2M v $475Me; +3.3% afterhours - QCOM: Reports Q1 $1.26 v $1.20e, R$6.62B v $6.71Be; +3.1% afterhours - QLGC: Reports Q3 $0.29 v $0.24e, R$119.4M v $118Me; +2.3% afterhours - GOOG: Lenovo confirms to acquire Motorola Mobility assets for $2.91B; +2.2% afterhours - LVS: Reports Q4 $0.72 v $0.85e, R$3.66B v $3.72Be; Raises quarterly dividend by 43% to $0.50/shr from $0.35/shr; -2.0% afterhours - SYMC: Reports Q3 $0.51 v $0.43e, R$1.71B v $1.65Be; -2.1% afterhours - CTXS: Reports Q4 $1.04 v $0.98e, R$802.4M v $808Me; -5.0% afterhours - ELY: Reports Q4 -$0.34 v -$0.32e, R$127.2M v $123Me; -6.0% afterhours

Notable movers by sector: - Consumer discretionary: Billabong BBG.AU -3.6% (CEO comments) - Financials: Sumitomo Mitsui Financial Group 8316.JP -5.4% (9M results); Shinsei Bank 8303.JP -7.2% (9M results) - Materials: Luoyang Glass 1108.HK -2.3% (FY13 guidance); Fortescue Metals Group FMG.AU -2.1% (Q2 production results) - Energy: Beach Energy Ltd BPT.AU -2.4% (FY14 production guidance) - Technology: Lenovo Group 992.HK -8.8% (acquires Motorola unit); Canon 7751.JP -1.7% (FY13 results); Nintendo 7974.JP -3.4% (9M results; repurchase plan) - Industrials: Hitachi Metals 5486.JP +5.0% (9M results); Zhangjiagang Furui Special Equipment 300228.CN -6.4% (FY13 results); Toyota Motor 7203.JP -2.2% (speculation on FY13/14 results); Misumi 9962.JP -6.8% (9M results) - Healthcare: Taisho Pharmaceutical 4581.JP +2.5% (9M results) - Utilities: Chugoku Electric Power 9504,JP -4.3% (FY13/14 guidance)

>>> US After Hours

After Hours Summary: INFN +13.3%, FB +12.2%, FLEX +10.4%, QCOM +2.5%, NSR -23.0%, CTXS -4.6% following earnings/guidance

* After Hours Gainers:

Companies trading higher in after hours in reaction to earnings: INFN +13.3%, FB +12.2%, ININ +10.6%, FLEX +10.4%, CNQR +7%, NOW +5.4%, CSII +5.4%, MKSI +4.8%, FTNT +4.4%, QCOM +2.5%, LRCX +2.4%, QLGC +2.3%, TCBK +1.2%, PRXL +0.8%, CMO +0.8%, IVAC +0.5%

Companies trading higher in after hours in reaction to news:

- IO +9.8% (announced that it has increased its ownership interest in OceanGeo, a geophysical company specializing in multicomponent ocean bottom seismic acquisition; ION now owns 70% of OceanGeo), - TWTR +6.0% (trading higher following strong quarterly results from Facebook), - NLST +5.6% (announced that it has filed motions to add two additional patents to the lawsuits against the recently announced ULLtraDIMM memory module from Diablo Technologies and Smart Storage Systems), - GERN +5.1% (announced public offering of common stock, size not disclosed), - GOOG +2.6% (confirmed Lenovo (LNVGY) is acquiring Motorola Mobility), - NOG +2.5% (announced 4Q2013 production is expected to average ~ 13,900 barrels of oil equivalent (Boe) per day, up 28% y/y), - GPOR +2.1% (announced retirement of CEO James Palm), - MPO +2.0% (provided operation update and preliminary 2014 production and capital guidance; sees Q4 adjusted EBITDA of $115-120 mln), - ARP +1.2% (increased quarterly distribution ~4% to $0.58 from $0.56 per unit)

* After Hours Losers:

Companies trading lower in after hours in reaction to earnings: NSR -23%, INVN -7.3%, TSCO -5.9%, CAVM -4.8%, ELY -4.7%, CTXS -4.6%, BVSN -4%, MLNX -3.3%, TTEK -2.8%, KEX -2.3%, SYMC -2.1%, BRKL -1.6%, QTM -1.6%, FBHS -1.4%, LVS -1.3%, QGEN -0.2%

Companies trading lower in after hours in reaction to news:

- KBIO -35.5% (reported top-line data for Phase 2 study of KB003 in severe asthma; while the study showed that KB003 was generally safe and well tolerated, it did not meet its primary clinical endpoint of improvement in FEV1 (a measurement of pulmonary function) compared to placebo in the overall study population), - NSR -23.0% (provided update on local number portability administrator selection process; co was notified that its October 2013 proposal would not be considered), - IDIX -5.1% (confirmed negative decision by the USPTO Trial and Appeal Board in the first patent interference case with Gilead), - PBYI -0.6% (filed for $115 mln common stock offering)

WSJ Asian Shares Slump After Fed Action

Asian Shares Slump After Fed Action

Pedestrians walk in front of a quotation board displaying the Nikkei index in Tokyo on Thursday. Photo: Agence France-Presse/Getty Images By BRAD FRISCHKORN And DANIEL INMAN Market turmoil returned to Asia on Thursday, led by a more than 3% slump in Japanese stocks after the U.S. Federal Reserve said it would scale back further on its stimulus measures. Although the move to scale back on its monthly buying program was widely expected, it is the latest blow for investors already dealing with a global selloff. Recent attempts by central banks in Turkey and South Africa to stop the slides in their currencies have failed to have a significant impact, heightening jitters for money managers. The Nikkei dived 3.3%, spurred by a stronger yen as investors flocked to the safe-haven currency. In other markets, Singapore's Straits Times Index lost 1.1%, Australia's S&P ASX 200 fell 1% and Indonesia's JSX was 1.3% lower. A further knock to global confidence came too with more evidence that manufacturing in China is slowing, pushing Hong Kong's Hang Seng Index down 1.5% and the Shanghai Composite down 0.7%. HSBC's final China purchasing managers index for January came out at 49.5, compared with 50.5 in December, and a touch lower than a preliminary reading of 49.6 from earlier in the month. A score above the 50 mark indicates an expansion in manufacturing activity, while a reading lower than 50 points toward a contraction. The preliminary reading last week showed a move from expansionary territory to contraction and was the spark that set off the emerging-market rout, which started in developing economies and soon spread to their developed peers. Emerging market "concerns have not left us," said Sean Callow, senior currency strategist at Westpac Institutional Bank in Sydney, adding that sharp moves in emerging economies can lead to "unexpected collateral damage in the rest of the world." The declines on Thursday mark a sharp turnaround from the gains that Asia saw in the previous session—the Nikkei jumped 2.7%, its biggest daily move since early September. On Wednesday, the region moved higher because of initial optimism after a move by the Turkish central bank to restore confidence in the local currency by yanking interest rates much higher. "The Wednesday market rise was overdone given prevailing global market conditions," said Yoshihiro Okumura, general manager at Chibagin Asset Management. "The turmoil in emerging markets does not look like it is close to dying down." The positive impact of the central bank's action was short-lived however, with the effects diminishing as the global day progressed. By the time the U.S. market had closed on Wednesday, sentiment had soured again and the Dow Jones Industrial Average ended the day 1.2% lower. The market turmoil resulted in a stronger yen overnight. The dollar lost 0.7% against the Japanese currency on Wednesday and weakened on Thursday. It was last at ¥102.14, compared with ¥102.26 late Wednesday in New York. In corporate news, shares in Lenovo Group sank 6.9% after the Chinese electronics firm said on Thursday that it agreed to buy Motorola's handset business from Google for $2.9 billion. The acquisition came just one week after Lenovo bought International Business Machine Corp.'s low-end server business for $2.3 billion. While the first deal gave Lenovo's stock a boost, the latest acquisition weighed on the company as analysts questioned the profitability of the target.

>>> Google Inc Lenovo confirms to acquire Motorola Mobility assets for $2.91B

Google Inc Lenovo confirms to acquire Motorola Mobility assets for $2.91B
- Lenovo Board is pleased to announce that on January 30, 2014 (before trading hours), the Company entered into the Acquisition Agreement with Google in respect of the Transaction, pursuant to which the Company conditionally agreed to acquire, and Google conditionally agreed to sell, the Sale Shares, representing 100% of the issued and outstanding equity interests in Motorola Mobility. 
- The Consideration payable by the Company to Google for the sale and purchase of the Sale Shares is the aggregate amount of US$2,910,000,000 (equivalent to approximately HK$22,581,600,000) consisting of: 
1. the Cash Consideration of US$660,000,000 (equivalent to approximately HK$5,121,600,000) payable in cash to Google on the Completion Date, subject to the Cash Adjustment, the Share Adjustment and the Deferred Consideration Reduction; 
2. the Share Consideration, subject to the Share Adjustment, in the form of Consideration Shares equal in aggregate value to US$750,000,000 (equivalent to approximately HK$5,820,000,000) based upon the Closing Share Price, but limited to a maximum of 618,301,731 Shares and a minimum of 505,883,235 Shares, credited as fully paid and to be issued to Google (or its designee) at Completion; 
3. the Deferred Consideration of US$1,500,000,000 (equivalent to approximately HK$11,640,000,000) payable on the third anniversary of the Completion Date in cash, on and subject to the terms of the Promissory Note to be issued by the Company to Google at Completion, subject to (i) any reduction, at Googles election pursuant to the Acquisition Agreement, of any amount owing to the Company by Google under the Cash Adjustment, and (ii) the Deferred Consideration Reduction. 

INTELLECTUAL PROPERTY ARRANGEMENTS 
- Pursuant to an internal restructuring of the Business to be undertaken by the Motorola Mobility Group prior to Completion, certain patents owned by the Motorola Mobility Group as at the date of this announcement will be transferred from the Motorola Mobility Group to the Google Group prior to Completion. Accordingly, the Company will not be acquiring the Excluded IP as part of its share purchase of the Motorola Mobility Group under the Transaction. 
- Under the terms of the IP License Agreement, Google, on behalf of itself and its subsidiaries, will grant a non-exclusive, royalty-free, worldwide and perpetual license to certain members of the Motorola Mobility Group with respect to the Excluded IP.

>>> Fortinet: Conference Call Notes --> FTNT +5% After Hours

Fortinet: Conference Call Notes
Key points from FTNT's fourth quarter conference call:
Company issued mixed guidance for Q1, seeing EPS of $0.08 vs. $0.12 CapIQ consensus on revs of $155-$159 mln vs. $155.1 mln consensus. Sees gross margin of 70-71%, but a downtick in operating margin to 12% as the company plans to invest, believing it has under-invested in its growth. Specifically, it plans on ramping its sales force and spending on marketing initiatives such as lead generation, and also plans to spend some on R&D as it launches new products. Management feels the short-term margin trade-off will pay-off in the longer term in terms of overall growth. It does expect operating margins to expand throughout the year.

Management says that the recent high-profile cyber attacks have put cyber security back in the spotlight. This is having a positive impact on its business, saying it is well-positioned to capitalize on market opportunities.

FTNT believes it gained market share in Q4, pointing out that it won several large deals over $1 million. The telco and retail verticals were particularly strong.

On a geographic basis, the Americas region continues to be a stand out. The large enterprise sector was especially strong, and there was a pick up in the service provider area as well. The Americas continue to become a larger percentage of the overall revenue mix.

Product revenues were up 17% in the quarter, the strongest product growth rate of the year. Says there was encouraging interest in its newer high-end next-generation firewall products.
*Shares are up ~5% in after hours trade.

FT : Spanish cable group Ono forges ahead with Madrid float plans

Spanish cable group Ono forges ahead with Madrid float plans

Ono, the Spanish cable group at the centre of takeover interest from Vodafone and John Malone’s Liberty Global, is forging on with its own plans to float in Madrid after filing documents with the Spanish regulator.
The group has submitted a preliminary prospectus to the Comisión Nacional de Mercado de Valores, the market regulator, signalling the start of the process to raise equity that could value the group at as much as €7bn.

Those familiar with the situation said that both a sale or listing were being considered in order to raise the most money for the company, which has its own ambitions in using the money to acquire businesses in a fragmented Spanish cable market.
Ono is interested in several cable and telecoms businesses, said an informed person, mainly in northern Spain where the group’s coverage is less extensive. These include two private equity owned companies: Telecable, which is controlled by Carlyle, and R Cable, which is owned by CVC.
Ono is also interested in another company, Euskaltel, although the person added that this deal was seen as less likely.
The filing of the preliminary prospectus gives the group three months to make its formal application to float. Ono has not before acknowledged the plans to list. The company declined to comment on the filing of the prospectus.
The plans could be derailed by bids from either Vodafone or Liberty Global, however, which are both interested in acquiring the company.
The company’s investors – which include Providence Equity Partners, Thomas H. Lee Partners, CCMP Capital Advisors, and Quadrangle Capital – have spoken to Vodafone and Liberty Global about a sale of the company.
The two groups have crossed swords before in their rival attempts to consolidate the European cable industry when bidding for Germany’s Kabel Deutschland last year.
Neither company has made an approach to the board of Ono, said an informed person, which has remained focused on the flotation plans. The company is still talking to banks to advise on the initial public offering process.
Ono is expected to benefit from the recent boom in valuations for cable operators, with comparable flotations of groups such as Numericable in France met with high levels of investor demand.
The company will update the market on its recent trading in the next few days, said one person with knowledge of the situation, which is expected to show an improvement in mobile subscription numbers and internet customers, offsetting the effect on revenues from competition in the pay-TV market.

FT : Energy price gap with the US to hurt Europe for ‘at least 20 years’

Energy price gap with the US to hurt Europe for ‘at least 20 years’

British Government Signs A Deal For New Nuclear Power Plant©Getty
High gas and electricity prices will continue to plague Europe for at least 20 years, damaging the competitiveness of industries that employ almost 30m people, the world’s leading energy forecaster has warned.
In findings likely to inflame claims EU climate change policies are damaging the bloc’s manufacturers, the International Energy Agency said Europe will lose a third of its global market share of energy-intensive exports over the next two decades because energy prices will stay stubbornly higher than those in the US.

A number of EU countries have embraced green energy subsidies, shunned nuclear power and resisted the shale exploration that has fuelled a manufacturing renaissance in the US, prompting growing anger among industry leaders who say this has been a recipe for competitive ruin.
Fatih Birol, the IEA’s chief economist, said environmental policies alone had not pushed up energy costs but the price gap between the EU and the US was going to last much longer than some expected.
“This is a new thing and it’s structural. It’s not a one-off,” he told the Financial Times.
“Europe didn’t realise the seriousness of this competitive issue,” he said, warning the situation raises concern for the almost 30m people working in heavy industries such as iron, steel and petrochemicals across the continent.
European gas import prices are currently around three times higher than in the US while industrial electricity prices are about twice as high, creating an energy price gap Dr Birol said would last “at least 20 years”.
Although industry leaders blame the region’s ambitious climate change policies – especially generous renewable energy subsidies – Dr Birol said he had “great respect” for the EU’s climate actions and it was a mistake to say they were chiefly responsible for the bloc’s dilemma.
“Too much of the blame for Europe’s high energy prices is being directed at its ambitions on climate change while the main factor – the high cost of imported energy – is being all but ignored,” he said in a speech to London’s Imperial College where he elaborated on the IEA’s analysis of the problem.
“Even renewable subsidies, which have become a serious burden in some markets, are still far from being the dominant factor in price formation,” he said.
It was important to recognise the big role natural gas played in electricity generation in Europe, which has yet to experience anything like the US shale boom that has driven down prices.
Still, Europe alone cannot solve the climate problem he said, explaining that even if the continent stopped emitting greenhouse gases completely in 2030, it would not stop the trend towards dangerous levels of global warming.
Rather than continuing to see energy policy as a struggle between competitiveness and climate change action, Dr Birol said Europe needed to to find a way to address both concerns.
This could include a bigger role for nuclear power and shale gas production, encouraging more energy efficiency, and renegotiating natural gas import prices, now that two-thirds of import contracts are due to expire in the next 10 years.
In addition, he said there was a need to address the “perverse outcomes” driven by poorly designed renewable subsidy programmes, as well as the collapse of the carbon market that had made coal fired power generation more attractive.
“Europe needs to pay more attention to the competitiveness agenda while keeping the climate agenda alive,” he said.

(TechCrunch) Lenovo To Buy Motorola Mobility From Google For About $3B

TechCrunch has confirmed reports that Lenovo is buying Motorola Mobility from Google. This is the division within Google that the company purchased in 2011 for $12.5 billion.

The terms of the deal have yet to be revealed but we’re hearing the price was near $3B.

According to a separate report published by Reuters, Lenovo is being advised by Credit Suisse Group while Lazard Ltd advised Google on the transaction.

According to our source, Google wanted to dump the asset for some time. The company had to hold off selling the division for tax reasons.

Motorola Mobility’s performance has yet to live up to its purchase price. Since Motorola split and its consumer division went to Google, it has been a constant source of red ink. Motorola lost quite a lot of money: $248 million in the last quarter alone. Google sums this well, noting that the loss was “-21% of Motorola Mobile segment revenues.” Motorola lost $192 million in the year-ago quarter, so the trend here isn’t positive.

This comes just weeks after Google purchased the hot hardware startup Nest. Since then, Nest’s role in the budding conglomerate that Google is turning into has been widely speculated about. Well, now with Motorola gone, Nest’s superstar team that includes many former Apple engineers seemingly has an empty playground.

As the dust settles on this deal, it’s clear that Google took a large lose on its venture with Motorola Mobility. Google acquired an established brand with a vast portfolio of patents, a mature distribution system and a knowledgeable manufacturing arm. Even after pouring money and resources into the historic American brand, Google couldn’t make it lemonade with Motorola. Maybe Lenovo, the now-leader in personal computers, will have better luck.

More as we get it.

>>> Notable after hours earnings movers: FLEX +13%, FB +9.4%, ININ +9.2%, NSR -2

Notable after hours earnings movers: FLEX +13%, FB +9.4%, ININ +9.2%, NSR -23.4%, INVN -4.7%, CTXS -4.2%
Companies trading higher after hours following earnings/guidance:

FLEX +13%, FB +9.4%, ININ +9.2%, CNQR +5.7%, NOW +4.2%, QCOM +2.9%, FTNT +2.9%, BVSN +1.7%, IVAC +1.3%, CSII +1.2%, QLGC +1%

Companies trading lower after hours following earnings/guidance:

NSR -23.4%, INVN -4.7%, CTXS -4.2%, CDNS -3.8%, LVS -3.3%, SYMC -3%, MLNX -2.5%, QTM -2.4%, ELY -1.7%, VRTX -0.4%

(BFW) Mellanox Technologies 4Q Rev. Misses Est.; Adj. EPS in Line

BUS 01/29 21:05 Mellanox Technologies, Ltd. Announces Fourth Quarter and Fiscal Year 2013 Financial Results
BFW 01/29 21:06 *MELLANOX 4Q ADJ. EPS 21C, EST. 21C
 BN 01/29 21:06 *MELLANOX 4Q ADJ. EPS 21C, EST. 21C
 BN 01/29 21:05 *MELLANOX TECHNOLOGIES 4Q REVENUE $105.5M               :MLNX US
 BN 01/29 21:05 *MELLANOX TECHNOLOGIES 4Q NON-GAAP EPS 21C              :MLNX US
 BN 01/29 21:05 *MELLANOX TECHNOLOGIES 4Q LOSS PER SHARE 17C            :MLNX US
 BN 01/29 21:05 *MELLANOX TECHNOLOGIES 4Q NON-GAAP GROSS MARGIN 68.5%   :MLNX US
 BN 01/29 21:05 *MELLANOX TECHNOLOGIES 4Q GROSS MARGIN 64.9%            :MLNX US
Mellanox Technologies 4Q Rev. Misses Est.; Adj. EPS in Line
2014-01-29 21:12:33.514 GMT


By Jeremy R. Cooke
     Jan. 29 (Bloomberg) -- Mellanox Technologies 4Q adj. EPS
21c vs est. 21c.
  * 4Q rev. $105.5m vs est. $108.1m
  * Call 5pm 785-424-1825

Link to Statement:{NSN N06L8CMEQTXG <GO>}
Link to Company News:{MLNX US <Equity> CN <GO>}

For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}

To contact the editor responsible for this story:
Jeremy R. Cooke at +1-617-210-4654 or
jcooke8@bloomberg.net