Diamonds and Dogs
04/12/2012Avid Technology Inc. (AVID)
Avid Technology a digital media creator of products such as NewsCutter, a program used to edit advertisements and news feeds; is getting crushed today down 17.32% at $8.50. Avid saw its common stock fall based on its first quarter sales number coming in well below the expected result. The sales for the first quarter came in at $152 million, compared to analysts' predictions of $160 million. Furthermore, the company showed an operating loss of $15 million, which is their weakest result since the spring of 2009. Avid should have used their NewsCutter program to edit out their poor numbers. Needless to say, many investors are not avid fans of this company today.
Fusion-io Inc. (FIO)
Fusion-io is exploding today; although it has nothing to do with nuclear fusion, up 14.80% at $28.31. The software and memory storage developer saw its gains today come on the back of a potential deal with Cisco Systems. In this deal Cisco would sell Fusion's cards inside of their UCS platform. If Fusion placed its cards in just 2.9% of all of Cisco's server units, it would make Cisco a 10% customer of Fusion. This number seems rather attainable by Fusion, meaning Cisco could be larger than a 10% customer. Steve Wozniak must have a smile on his face today seeing his companies daily gains up much more than his previous company; Apple. Wozniak took the bite out of the Apple.
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