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Inventing Money



Purpose of this blog is to bring a different prespective to the daily hustle of the market. Making money while doing it would also be a good thing. I welcome comments, and to exchange ideas privately contact me at: midascapital@gmail.com



Updated: 2017-07-30T00:57:28.515-07:00

 



Fresh Commentary at http://www.inventing-money.com

2007-10-28T21:39:28.260-07:00

Thanks for the continued support. Please check http://www.inventing-money.com for fresh commentary going forward.



Isilon sours the taste

2007-10-03T22:14:04.325-07:00

ISLN which like BBND is a recent IPO in the data storage arena pre announced and it was not pretty. Here is the press release: Isilon® Systems the leader (don't you love that- "leader") in clustered storage, today announced preliminary results for the third quarter of 2007 ended September 30, 2007. Based on preliminary estimates, total revenue is expected to be in the range of $23.2 million to $



A Big BANG(band) miss with few lessons for us all

2007-09-27T22:02:34.918-07:00

WOW! Was all I could say once the headlines scrolled across the newswire. This was a monumental miss, or a Big Bang kinda miss by BigBand Networks (BBND). It does not get uglier then this. BBND expects revenues to be in the range of $35-$39m vs. expectations of $56m. Company gave a list of excuses for the miss (obviously you can enjoy reading the list in the release). The lessons to learn



We are back

2007-09-25T22:10:43.557-07:00

After a VERY long hiatus- we are back at making this site useful for investors of all levels. We welcome your feedback and would appreciate if you spend time with us again. Thanks for the continued support. Check you www.inventing-money.com for fresh commentary



Adtran's woes probably signals deeper issues in telecom

2007-09-25T21:42:16.343-07:00

ADTN officially announced on Friday at 5pm (pacific time that is!- yea I was in the office) that it will fall short of expectations for the September quarter. Nothing wrong with pre-annoucing 4 hours the market closed on a Friday I suppose. Company blamed their legacy business for the shortfall and basically blamed absence of spending typical for Q3 for the shortfall. ADTN is notorious for having



Netlogic satisfies

2006-04-26T21:57:14.580-07:00

NETL reported revs and EPS ahead of expectations and guidance was better than expected also. What was a big positive for me was the ability of NETL of to deliver a solid 10% revenue growth without any growth driven from its largest customer- CSCO. There has been plenty of naysayers out there blabbering about how a majority of NETL revenues are dervied from CSCO and how that is a bad thing. I



Fasten your seat belt NT shareholders

2006-04-07T20:01:34.480-07:00

Mike Zafirovski had a coming out party at CTIA-sort of. The CEO of NT made a rare public appreance at the CTIA conference making some bold statements. Mike wants NT employees to be "boy scouts" who would do the right things. I guess the Finance department is going to be outsourced going forward, since they have not been able to do the right thing for a while now.Mike wants NT to exit every



Chalk one up on the Win column

2006-04-06T22:14:53.353-07:00

EXTR pre-announced a miss today after the close. Company blamed weakness in U.S and Japan for the miss. Like I said few days back, I would stay away from EXTR. The company has been in internal ups and downs and from what I can gather it is not smooth sailing yet. I believe the weakness in U.S. and Japan was due to these internal issues not due to any broad market weakness. FDRY I believe is



Money call from one of Wall St. Finest

2006-04-02T14:50:13.463-07:00

RDWR lowered guidance on Sunday April 2nd but the stock was already down almost 13% on Friday March 31st. Call me naive, but you think maybe someone knew? The money call from one of Wall St. Finest Stanley Kovler was made on Friday; he published that he expects company to miss due to sales team transition in U.S, exactly the same reason given by RDWR in its press release. Was Stanley typing the



It's just quiet out west

2006-03-14T22:06:22.620-08:00

I haven' t posted in a while since I have not found anything worthwhile to discuss. There was the OFC last week, which got Cramer's blood pumping and so did all the optics stocks. Even the ones that have nothing to do with enterprise strength seen by FNSR. What does AVNX has that is similar to FNSR product portfolio is beyond me and I have been covering optics before optics were hot (literally).



Royalty King- Qualcomm

2006-02-14T21:54:21.130-08:00

QCOM most probably just won the CDMA chipset game as NOK and Sanyo announced to merge their respective CDMA handsets businesses into a joint-venture. NOK/Sanyo JV would hold the #2 position in CDMA handsets after LG, putting Samsung in #3 position. This could be the last nail in coffin for the non-QCOM CDMA chipset consortium. NOK will most probably end up utilizing QCOM part as is the case



Looking out for The Few

2006-02-13T22:15:06.173-08:00

On February 8th the Board of Directors of EXTR approved an Executive Change in Control Severance Plan. The filing with the SEC was made yesterday right after the close of market. What this severance plan entails is a nice pay out for the executives and certain VPs upon change in control of EXTR. The board does not plan to do anything specific for the ordinary shareholders except for "maximizing



Coat of Blues

2006-02-06T22:27:28.500-08:00

BCSI pre-announced negatively this morning and the market cap took a 39% haircut; given that BCSI is one of the high-flying high expectations/high multiple stock. Company provided absolutely no details regarding the miss (that never helps in negative pre-announcements)The really interesting educational lesson coming out of this pre-announcement was the importance of leverage. BCSI had



Is JNPR calling?

2006-01-26T22:42:11.630-08:00

JNPR, as we all know by now, missed consensus estimates for the first time in last two years; resulting in a nice 21% hair-cut to the market cap. JNPR has been plagued by the acquisitionmania- acquiring five companies in last two years, starting with NetScreen and the most recent Funk Software. Recent acquisitions of Redline, Kagoor and Peribit contribued no growth during the quarter- that's



Personal note

2006-01-24T23:42:46.486-08:00

Apologies to my regular readers for the long hiatus, my posts should pick up in frequency again. Also, want to thank Forbes for mentioning this site as one of the top Investment Blogs on the web.



It's cheap for a reason

2006-01-24T23:31:15.560-08:00

EXTR has been one of the cheapest networking stocks for a while, trading below 1x EV/Sales for some time. Trading in a range between $4 and $5ish for almost a year. EXTR has seen nice improvements in revenues for last few quarters, improving gross margins, better operating margin and even some buy-backs but the stock gets little respect. Today EXTR reported revenues that missed its own guidance.



Intel to issue converitble debt - is tech old?

2005-12-12T20:58:56.520-08:00

INTC announced that it plans to issue $1.4b in Junior Convertible debentures. INTC currently has very little debt on its books. Its long-term debt is close to $400m, paltry amount when you look at the accounts payable balance of over $2b. The $1.4b is also a paltry amount for a company with market cap of $160b. So why issue debt when a company like INTC generates wads of cash every quarter? For



Tech is well but US $ strength hurts

2005-11-22T17:57:12.646-08:00

TECD reported this morning with results ahead of expectations and above the high-end of mgmt guidance. Both Americas and EMEA were strong sequentially. Gross margin was little weaker due to mix of products and where the product was sold and internal issues. Guidance for January quarter is for growth of 4-7% sequentially and 5%-8% Y/Y, which is on top of US Dollar appreciating about 10% from last



Clarification on Huawei in India; ZTE wins at BSNL

2005-11-13T16:27:08.140-08:00

I had mistakenly stated that Huawei was banned by BSNL due to its alleged ties with the Chinese government. That information was incorrect and came from a reliable source. It has come to my attention that the reason BSNL has banned Huawei is that because Huawei had earlier failed to deliver equipment on previously won contract for 1.05M CDMA lines. BSNL just rewarded ZTE contract for 2.85M



IBM spreads wings in India

2005-11-12T11:03:07.033-08:00

As I had speculated last week about IBM starting to do more acquisitions in India, IBM bought a small outfit in India fews days back. IBM has announced that it has acquired Network Solutions Pvt. Ltd., a Bangalore-based infrastructure services company. Network Solutions will allow IBM to augment its networking and managed services portfolio. Network Solutions seems to be a network implementation



Brightpoint shining bright

2005-11-08T20:50:45.966-08:00

CELL reported results ahead of expectations on both revenues and EPS. For those of you who do not know what CELL does, a quick introduction is in order: CELL is a distributor of handsets for various carriers throughout the world. CELL also distributes accessories for handhelds. CELL usually has great visibility into the end-market demand. Overall it seems as though handset demand remains strong



IDTI sounds positive

2005-11-08T19:53:37.943-08:00

IDTI reported after market today and the management sounded positive than the pessimistic market expectations. Top line and EPS was better, guidance is inline for revenues but EPS guidance is higher-just what I want. Company is already 80% booked for the quarter, 10% ahead of typical seasonality- is it demand or are people double ordering? Inventory in the channel and at OEMs seems to be a



Mastec details

2005-11-08T19:32:32.170-08:00

MTZ provided more details on the results for the quarter. The top line was slightly weaker than guidance due to the natural disasters during the quarter top line guidance for Q4 is little weaker also but EPS is higher due to continued margin expansion. Gross margin was higher than expectations even with negative impact from the hurricanes in Gulf Coast and Florida and lower margin from DOT work,



Mastec margins improving- read on Telco/cable spending

2005-11-08T19:32:46.570-08:00

MTZ reported results after market and as I had pointed out earlier margins are starting to move up. Gross margins increased nicely from 11.4% to 14.8% sequentially, very tough to see margins increasing in this increasing cost environment. G&A expense was higher but operating margins improved as well. MTZ is a play on not only better spending by carriers on specific projects like FTTx, it's also a



Not all revenue is created equal

2005-11-13T16:17:07.743-08:00

NT in its 10Q (filed 11/3/05) has revealed that its BSNL business might not be as big as it has once anticipated. NT has raked up losses of approximately $263 million on recognized revenues of $288 million. Not really a profitable endeavor in my opinion. Company expects to build the remaining revenues “profitably, progressively”. That remains to be seen as the size of the deal might not be as