Welcome to John Ransom's Stocks In The News, where the headline meets the trendline.
Stocks in the News is produced by Ransom Notes Radio and Goodfellow, LLC. Crista Huff manages Goodfellow LLC, a website that recommends outperforming stocks using fundamental and technical analysis.
Stock number one is:
Cirrus Logic Inc., (SYMBOL: CRUS) and the headline says:
Cirrus Logic Announces Preliminary Fourth Quarter Results(Dow Jones)
Cirrus Logic Inc., a developer of integrated circuit technology, preannounced unaudited fourth quarter revenue of $206.9 million. Unexpectedly, Cirrus will record a net inventory reserve of $23.3 million, as a key customer shifted its focus to a new Cirrus product, negatively affecting gross margins.
The company expects gross margins to rebound in the next quarter. Final fourth quarter results will be posted April 25, after the close.
Cirrus shares tripled in value in 2012, from $16 to $45, then began a freefall in September. The stock has not yet formed a base, and has lost almost its entire 2012 gains.
Our Ransom Note trendline says: AVOID CIRRUS LOGIC.
Stock number two is:
Bank of America Corp., (SYMBOL: BAC) and the headline says:
BofA Misses Estimates as Mortgage Banking Weighs on Results(Bloomberg)
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