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List of CSM coming events before its Q3 earnings on 20th Oct ...
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| CDNLive! Silicon Valley 2006 | September 12-14, 2006 | San Jose, CA | San Jose Convention Center | ||||||||||||||||||||||||||
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| International Symposium on Semiconductor Manufacturing (ISSM) 2006 | September 25-27, 2006 | Tokyo, Japan | Century Hyatt | ||||||||||||||||||||||||||
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| Chartered Technology Forum 2006 USA | September 28, 2006 | Santa Clara, Ca | Santa Clara Convention Center | ||||||||||||||||||||||||||
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| Chartered Technology Forum 2006 Taiwan | October 5, 2006 | Hsinchu, Taiwan | Ambassador Hsinchu, Taiwan | ||||||||||||||||||||||||||
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| Chartered Technology Forum 2006 Shanghai, China | October 25, 2006 | Shanghai, China | Intercontinental Pudong, Shanghai | ||||||||||||||||||||||||||
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| Chartered Technology Forum 2006 Beijing, China | October 27, 2006 | Beijing, China | Swissotel Beijing Hotel | ||||||||||||||||||||||||||
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See CSM performs in Nasdaq today!
TechWeek: Shorts Drive the August Rally
By Bill Snyder
TheStreet.com Senior Writer
8/19/2006 10:07 AM EDT
Some of the shorts scrambled for a reason that may sound silly, but happens nearly every summer and is quite serious, says Hilary Kramer, chief strategist at ANG Capital. "With school due to start soon, people are heading for the beach for a last vacation." And they're not going to leave with a lot of positions uncovered, she explains.
Kramer, who's generally bearish on techs, says much of the recent action on the Nasdaq has been driven by hedge funds, not investors in for the long term. Having said that, she adds that the market was somewhat oversold and was due for an upward (and in her view, short-term) correction.
Speaking of hedge funds, Jim Cramer, The Street.com co-founder, "Mad Money" TV host and Real Money.com columnist suggests that the market was oversold because a large hedge fund had been engaged in very heavy selling.
When the fund, which Cramer did not name, "went bust," the pressure eased, and tech stocks came back.
Yup, read that in 24th April '06 (*Check out the last post: http://www.marketwatch.com/tools/quotes/news.asp?siteid=mktw&sid=159499&property=sid&value=159499&symb=CHRT&doctype=806) ... but can't trust these analysts too much, Forrest.
Here's another boost for CSM:
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Marvell sees turnaround for former Intel unit
Chip designer says troubled communications business, among other recent buys, will gain footing within two years.
By Reuters
Published: August 1, 2006, 9:00 AM PDT
Diversified chipmaker Marvell Technology Group said on Tuesday that it expects to turn around the loss-making communications unit it bought from Intel within one to two years.
In June, Marvell paid $600 million for Intel's communications processor business to gain a footing in the lucrative, but intensely competitive, cell phone market.
The unit makes and sells processors for high-end cell phones and personal digital assistants.
"A lot of people are focused on the losses from this acquisition, but this is an area we have zero concerns over, as we believe we can fix the problem fairly quickly, compared to the time it would take for us to develop this business, if we were to go into it ourselves and develop the technology from scratch," Chief Executive Sehat Sutardja told Reuters in an interview.
"We project it could take one to two years for us to turn around the unit, maybe sooner, but from an initial look at the problems, they are very, very manageable."
He added that Marvell would close the acquisition by the end of 2006 and that there would be some earnings dilution from the unit's losses on Marvell's next financial year, which ends Jan. 31, 2008.
Marvell designs microchips for hard-disk drives, wireless local-area network (WLAN) devices, power management systems and video game machines.
It then outsources the manufacturing of those chips to suppliers such as Singapore contract chipmaker Chartered Semiconductor Manufacturing and chip-testing and -packaging firm Stats ChipPac.
On Tuesday, Marvell said it would invest at least $63 million over the next five years in its Singapore facility, which would function as its regional headquarters.
The plant would house some chip assembly and test operations, its chip design team, sales and technical support. The company will also hire another 500 people in Singapore within that time frame, up from 200 currently. (*Check out: http://sg.vr-zone.com/?i=3855)
Indonesian-born Sutardja, who founded Marvell in California in 1995 with his brother, said the cell phone market would drive the company's growth in the medium term.
"There is a huge growth opportunity for us in the next several years, as this business we have acquired is larger than any other business we have entered into today, larger than the sum of our storage, networking and Wi-Fi businesses put together," he said. "Our goal over the next 10 years is to have our growth rate exceed the overall market growth."
But Sutardja dismissed suggestions by analysts that Marvell was buying revenues through its acquisitions and focusing on inorganic growth.
The Intel unit is Marvell's fourth acquisition in the past 12 months. It bought the printer semiconductor business of privately held Avago Technologies in February, UTStarcom's semiconductor unit in December, and QLogic's hard-disk and tape drive controller business in August 2005.
"The M&As done in the last few quarters are just opportunities that happened to come along. We do not have a strategy to focus on M&As--our strategy is to develop our technology in-house, but when we see opportunities that we cannot refuse, we will latch on to them," Sutardja added.
Sutardja said he gets dozens of calls from investment bankers but ignores most of the potential targets that they identify.
"I don't see many opportunities left in the market," he said.
Marvell's customers include Seagate Technology, Western Digital, Intel and Microsoft's Xbox 360 game console.
It competes with communications chipmaker Agere Systems, Texas Instruments, the largest maker of chips for cell phones, and Europe's top chipmaker, STMicroelectronics.