Steve, well heres one upgrade today! from briefing.com
CYRIX CORP (CYRX) 23 1/8 +1 3/4. Supplier of high-performance processors to the personal computer industry reported 4th qtr results that exceeded Wall Street's consensus estimate by 7 cents a share. For the period, company lost $0.23 a share, less than half the $0.49 a share lost in the comparable year-ago period. In addition to the better than expected net income figure, market is having a favorable reaction to company's strong rise in revenue, up 84% to $72.1 million. Revenues for the fiscal year were $183.8 million, down from year-ago's $228 million. According to the company, "the strong fourth quarter revenue performance demonstrates that our 6x86 products are now widely accepted in the marketplace." Company ended the quarter with more than $87 million in cash and investment. Appears that CYRX is starting to turnaround what has been a very difficult year for most semiconductor concerns. And, with CYRX making strong forward looking statements (specifically, an expected return to profitability in 1997, "despite the challenges of a dynamic marketplace") market is scooping up shares in anticipation of continued growth. Though not quite bullish on the stock, Oppenheimer is less-bearish, upgrading issue to "market perform" from "underperform." |
