In this report: Netflix (NASDAQ:NFLX), Cavium Inc. (NASDAQ:CAVM) and LCA-Vision (NASDAQ:LCAV).
Netflix (NASDAQ:NFLX) is trading fairly flat today despite receiving a downgrade by analysts at Barclays. The banking giant cut its rating on the movie streaming company to ‘Equal Weight’ from ‘Overweight’ with a price target of $115 per share. Anthony DiClemente, the analyst behind the ratings cut cited new competitive threats in the subscription-video-on-demand-market. Mr. DiClemente specifically mentioned Amazon.com’s Prime subscription VOD service, Streampix service and “the proliferation of TV Everywhere” from Dish Network. Netflix currently trades at $113.85 per share.
Cavium Inc. (NASDAQ:CAVM) is trading higher today despite cutting its first quarter forecast and receiving a price target drop by analysts at Wunderlich. The company said that it now expects revenue in the first quarter to drop by 6 to 7 percent from the fourth quarter. Cavium also stated that it expects earnings per share in the first quarter of 2012 to be lower than previously expected by between $0.06 and $0.07 per share. Analysts at Wunderlich cut their price target on the company to $18 from $20 with a maintained ‘Sell’ rating. Cavium shares currently trade at $31.30 per share.
LCA-Vision (NASDAQ:LCAV) is sitting over 4 percent higher today after the Laser eye surgery provider said that its LasikPlus procedures grew by 11 percent in the first quarter. The company reported that it had performed 20,898 procedures during the latest quarter. LCA-Vision is expected to report its full quarterly results on April 24th. LCAV currently trades at $6.87 per share.
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