NVDA cuts Q2 revenue guidance to $875M-$950M. Says estimated decrease in revenue and gross margin is due to end-market weakness around the world, the delayed ramp of a next generation MCP, and price adjustments of its GPU products to respond to competitive products. S&P downgrades to hold from strong buy. JP Morgan reportedly downgrades to neutral from overweight.
CHINDEX INTERNATIONAL, INC.
CHDX announces that it has received approval from the State Food & Drug Administration (SFDA) of the People’s Republic of China to introduce new products, including the daVinci S Surgical System manufactured by INTUITIVE SURGICAL and the AlexLaser manufactured by CANDELA CORP.
ACME PACKET, INC.
APKT sees Q2 revenues of $24.5M-$25.5M, $0.02-$0.04 non-GAAP EPS. Notes there were a number of deals that did not close on schedule, and co. shipped relatively high volume of product in the last several days of Q2, which it was unable to recognize in Q2 due to time-based acceptance criteria with various customers.
TSON announces that Q2 revenues are expected to be about $5.9M-$6.0M, below previous guidance of $6.3M-$6.5M. Cites sales force turnover and the promotion of some high-performing direct sales people into regional management roles. Additionally, approximately 50% of its direct sales personnel have been on the job for six months or less and thus are not seasoned in their territories.
YINGLI GREEN ENERGY HOLDING COMPANY LTD.
YGE announces sales contract with Enfinity Management, a global renewable energy project developer located in Ghent, Belgium, under which YGE is expected to supply 10 MW of photovoltaic modules to Enfinity from July 2008 to December 2008.
WDFC posts $0.49 vs. $0.44 Q3 EPS on 5.8% sales rise. Says Q3 gross margin was 46.5% of sales vs. 47.5% in Q3 FY 07, reflecting higher underlying cost of goods. Still sees FY 08 sales growth of 4%-8%, but now sees EPS of $1.78-$1.85, which below consensus view of $1.86. WDFC says its cost of goods have been impacted by general increases in commodity prices, particularly the sharp increases in oil and steel.
BOSTON SCIENTIFIC CORP.
BSX announces that FDA has approved the Promus Everolimus-Eluting Coronary Stent System for the treatment of coronary artery disease. The Promus Stent is a private-labeled Xience V Everolimus-Eluting Coronary Stent System manufactured by ABBOTT and distributed by BSX under agreement executed prior to the ‘06 acquisition of the former Guidant Corp. by BSX.
ABT announces that FDA approved the Xience V Everolimus Eluting Coronary Stent System for treatment of coronary artery disease. ABT says Xience V is the only drug eluting stent to have demonstrated superiority over BOSTON SCIENTIFIC’s Taxus paclitaxel-eluting coronary stent system in two randomized head-to-head clinical trials. Xience V will be launched in the U.S. immediately.
ARYX THERAPEUTICS, INC.
ARYX announces that PROCTER & GAMBLE (PG) has utilized a 1X 30-day cancellation option linked to the completion of a Thorough QT (TQT) study to end the collaboration agreement between the companies covering the late-stage development and commercialization of ATI-7505, a prokinetic agent in Phase 2 clinical trials for chronic constipation and functional dyspepsia.
ADVANCED ANALOGIC TECHNOLOGIES INC.
AATI sees lower-than-expected Q2 net revenue of $20.5M-$21.5M due to continued weakness in China handset sales, short-term delays in the roll out of new high profile handsets by its customers and general softness in its end markets. Merrill lowers estimates, target price; keeps buy.