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Leigh Baldwin & Co.

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Diamonds and Dogs

5/1/13

Cray Inc. (CRAY)

Cray Inc. is going to be driving investors "Cray-z" today with shares down 17.01% at $17.56. The high-performance computing system company saw its shares crash after releasing earnings. Although earnings slightly beat analyst estimates the steep decline has scared investors away. For the quarter, Cray announced $79.5 million in revenue and a loss of $0.23 per share, both significant declines from the year-ago period, and more notably the prior quarter, which saw revenue of $188.8 million and $0.41 in EPS. Analysts were expecting revenue of $70.3 million or a loss of $0.24 per share. Cray lost around $3.60 a share today, but is still well above its 52-week low of $9.99.

Advanced Micro Devices Inc. (AMD)

AMD is trading in the green today, up 13.48% at $3.20. The PC chip maker has gained some momentum after a few good signs. First, CNBC had a group of analysts' doing a "stock draft" (during the NFL draft); in this draft one group of analysts' picked AMD as a great 2013 pick. Further helping the company was an announcement that new video game systems would use AMD's new Jaguar chips in their design. Both the XBOX 720 (Microsoft) and PlayStation 4 (Sony) stated that they would be solely using AMD's chips in the not yet released video game consoles. AMD has had a nice bounce off of its lows, but still needs a great rally to reach its 52-week high of $7.72.
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