In an SEC filing today, Silicon Image (NASDAQ: SIMG), the developer of HDMI and related technologies, reported it was laying off about 10% of its workforce.
The entire filing reads:
On December 5, 2008, Silicon Image, Inc. (the” Registrant”) began a reduction in force of approximately 60 people, or approximately 10% of its workforce worldwide, to align its cost structure with current economic conditions.Silicon Image's most recently filed quarterly report, for the period ended Sept. 30, 2008 indicated revenues of about $215, million for the nine months ended Sept. 30, 2008, compared to $230 million for the same period one year earlier.
Yes. Yes. Yes.OK, I get it. Don't buy stock with a "Q" at the end of its name.Don't make any mistake about this. You don't want to be like scores of Kmart shareholders who were stunned when that retailer's reorganization completely wiped out their investments. ...
Even if a company emerges from bankruptcy, the SEC says, "in most cases the plan of reorganization will cancel the existing equity stock." ...
I cannot stress this enough. Please don't act surprised if you buy stock in a struggling company and find that your shares are worthless.
Shares of Brink's Home Security Holdings Inc. (NYSE: CFL) fell Monday, its first day of solo trading on after spinning off from Brink's Co.
Shares of Brink's Home Security fell $2.28, roughly 10.5%, to $19.47. The high for the day was $22.29.
Today Brink's Home Security Holdings, Inc. (NYSE: CFL) announced its separation from The Brink's Company (NYSE: BCO). Brink's Home Security had been an operating unit of The Brink's Company for over 25 years. Trading in CFL began this morning on the New York Stock Exchange.
Market cap now is about $1 billion.
The ticker reflects the Company's internal mission statement: Creating Customers for Life. Puhleeze!
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Amityville, NY-based Napco Security Systems Inc. (NASDAQ: NSSC) issued a statement from chairman and CEO Richard Soloway, who starts out by noting that it is not "normal policy" for Napco to provide future guidance or to respond to market activity.
Napco stock has fallen from $4.42 in August to about $2 lately, a trend that "belies the basic strengths of the Company and its extremely positive future prospects," Soloway says.
Net sales for the first fiscal quarter of 2009 increased approximately 25% to $17.4 million, up from $13.9 million for the first quarter of fiscal 2008, due primarily to six weeks of revenues added from a recent acquisition "as well as an increase in our existing business," Soloway states.
Finally, he suggests that NSSC is a good buy: "We strongly believe that the prospects for long-term growth have never been better. In our estimation, investors should carefully investigate NAPCO’s future prospects …."
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The Board of Directors of Honeywell (NYSE: HON) has declared a regular quarterly dividend of $0.275 per share on the company's outstanding common stock. The dividend is payable on December 10, 2008 to shareowners of record at the close of business on November 20, 2008.
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Former Tyco (NYSE: TYC) CEO and lavish spender/swindler Dennis Kozlowski cannot sell his Florida and Massachusetts homes and other property without first asking Tyco for permission, a court has ruled.
Kozlowski is in jail for financing a lavish lifestyle by looting millions of dollars from the industrial conglomerate.
If he can manage to pocket some of his orange suits upon his release from prison, perhaps he could pawn them on ebay for a few bucks.
