U.S Stocks News Review – Barrick Gold Corporation (USA) (NYSE:ABX), TiVo Inc. (NASDAQ:TIVO), Skyworks Solutions Inc (NASDAQ:SWKS)

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On Wednesday, Shares of Barrick Gold Corporation (USA) (NYSE:ABX), lost -0.20% to $7.38.

Barrick Gold Corporation, declared that a mechanical issue at the Pueblo Viejo mine in the Dominican Republic is predictable to result in reduced production at the operation until mid-January 2016. Pueblo Viejo is a joint venture owned by Barrick (60 percent) and Goldcorp Inc. (40 percent).

Two of three electric motors at the mines oxygen plant practiced an unpredictable failure on November 19 and have been shipped to a specialized facility in the United States for repair. One motor remains operational. The plant provides the oxygen required for the autoclave processing facility that treats Pueblo Viejos refractory ore. Until the damaged motors are repaired, the autoclave facility will operate at a reduced capacity. The cause of the motor failure is presently under investigation.

Taking into account the potential impact of lower production from Pueblo Viejo in the fourth quarter, and based on our current rate of production, Barrick now anticipates to produce 6.0-6.15 million ounces of gold in 2015 at all-in sustaining costs of $830-$870 per ounce.

Current estimates indicate repairs can be accomplished with units back in service by mid-January. While repairs are underway, Pueblo Viejo is bringing forward maintenance activities formerly planned for January to optimize the processing downtime. Pueblo Viejo has Property and Machinery Breakdown Insurance, counting Business Interruption coverage, which is triggered after 30 days.

Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, counting the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.

Shares of TiVo Inc. (NASDAQ:TIVO), inclined 4.94% to $9.77, during its last trading session.

TiVo Inc., stated financial results for the third quarter ended October 31, 2015.

Tom Rogers, President and CEO of TiVo, said, This was a strong quarter of execution and growth. We posted record Service and Software & Technology revenue. Our continued innovation is leading to new distribution deals in addition to a strengthening in our existing operator relationships. This drove an acceleration in the growth of MSO service revenue in the third quarter, which was up 60% year-over-year. In addition, the turnaround in the TiVo-Owned business continues as we launched the innovative TiVo BOLT and gross additions were up 44% year-over-year, our ninth straight quarter of double-digit growth. Our business trends are improving, and as we move forward, we believe we are well positioned to deliver strong results for the full fiscal year and beyond.

Third Quarter Financial Overview

For the third quarter, service and software & technology revenues were $102.8 million. This contrast to guidance in the range of $100 million to $103 million, and $88.1 million for the same quarter last year. TiVo stated Adjusted EBITDA of $29.3 million contrast to $27.7 million in the same quarter last year. GAAP Net Income was $5.3 million; Non-GAAP Net Income grew 39% to $9.9 million contrast to the year ago quarter. Non-GAAP net income excluded $1.9 million regardingamortization & earn-outs from Cubiware, $1.9 million of interest expense on the 2021 convertible notes, and $0.9 million loss on the repurchase of 2016 convertible notes, all net of tax. Additionally, the company repurchased $40 million of its 4% convertible notes, representing 3.6 million shares during the third quarter based on the conversion price of 4% convertible notes.

TiVo Inc. provides television software services and cloud-based software-as-a-service solutions that enable to view video content through various screens. It offers whole-home solutions that comprise 4-Tuner and 6-Tuner digital video recorders (DVRs)/gateways, non-DVR IP set-top boxes (STBs), and software to enable streaming to application on third-party devices, such as iOS and Android mobile phones and tablets through features, such as What to Watch Now, OnePass, integrated search, access to broadband video content, and TiVo online/mobile scheduling.

Finally, Shares of Skyworks Solutions Inc (NASDAQ:SWKS), ended its last trade with 0.74% gain, and closed at $80.31.

Skyworks Solutions, declared that it decided not to modify its amended and restated merger agreement with PMC-Sierra, Inc. (PMC®) (PMCS), entered into on October 29, 2015. Recently PMC terminated the amended and restated merger agreement and, as a result, Skyworks is entitled to an $88.5 million termination fee from PMC.

Skyworks maintains a highly disciplined approach to the assessment of potential acquisition candidates, and at an raised valuation, PMC no longer meets Skyworks’ financial criteria.

Skyworks’ upwardly revised mid-term target operating model remains unchanged from the annualized non-GAAP earnings per share of $8.00 it offered on its Q4 FY2015 earnings conference call on November 5, 2015.

Skyworks Solutions, Inc., together with its auxiliaries, designs, develops, manufactures, and markets proprietary semiconductor products, counting intellectual property worldwide. Its product portfolio comprises amplifiers, attenuators, battery chargers, circulators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, VCOS/synthesizers, and voltage regulators. 

About Travis Garlick 1821 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.