Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

First Albany Cuts Synaptics Rating

Synaptics (SYNA) sees first quarter revenue down 9%-10% sequentially. First Albany cut its rating on the stock to underperform from neutral.

Analyst Joel Wagonfeld says company management confirmed the cloud hanging over the Synaptics story--it has been designed out of Apple's next-generation iPods. He notes guidance calls for fiscal 2006 first quarter revenue to be down 9%-10% sequentially despite seasonal growth in notebook PCs (which account for over 60% of revenue). This suggests Apple revenues will be down at least 65% sequentially. He notes the second quarter revenue estimate of $40 million to $50 million suggests Apple-related revenue may be zero by then (which would be consistent with Apple's quick end-of-life transitions). The analyst cut hsis $1.20 fiscal 2006 (June) EPS estimate on $244.8 million in revenue to 76 cents on $187.7 million in revenue.

blog comments powered by Disqus