Entropic Communications, Inc. (NASDAQ:ENTR) reported a smaller-than-expected loss in Q3, announced it is exiting set-top box chip set product development and cutting 40% of its global workforce and said CEO Patrick Henry is leaving the company. It also noted it continues to explore strategic alternatives. The provider of semiconductor solutions for set-top boxes and other entertainment solutions said Henry is being replaced by Ted Tewksbury on an interim basis, effective immediately. It didn't give a reason for Henry's departure. Entropic said separately that its Q3 non-GAAP loss widened to $0.11 per share from $0.06 a year ago, but was better than the $0.15 average loss expected by analysts polled by Capital IQ. Entropic Communications, Inc. (NASDAQ:ENTR) revenue fell to $43.2 million from $56.4 million but was roughly in line with the $43 million consensus.On a GAAP-basis, the net loss widened to $27.6 million or $0.31 per share from $21.8 million or $0.24 a year ago. The company also said it plans to refocus its connectivity business by discontinuing all new set-top box system-on-a-chip product development. Entropic said the restructuring will take place in Q4, resulting in 200 jobs being lost, or 40% of its workforce and that it will close facilities in Shanghai, China, Belfast, Northern Ireland and San Jose, California. It said the restructuring will realize approximately $11 million in non-GAAP quarterly savings, primarily in operating expenses, with annualized non-GAAP savings projected at $44 million. The restructuring will result in pre-tax GAAP charges of between $9 million and $11 million, most of which will be recorded in 2014.Click here for a free comprehensive Trend Analysis ReportMedia and entertainment company, Walt Disney Co (NYSE:DIS) has had its price target raised by analysts at RBC Capital Markets to $96 a share from $92. The firm maintained its outperform rating on the stock. In Monday's morning session, shares of Walt Disney Co (NYSE:DIS) edged up 0.10% to $90.09, moving within a 52-week trading range of $66.72 - $92.Click here for a free comprehensive Trend Analysis ReportKaryopharm Therapeutics Inc (NASDAQ:KPTI) reported a Q3 net loss that improved over a year prior. Karyopharm reported a net loss of $19.7 million, or $0.61 per share, for the quarter ended September 30, 2014, compared to a net loss of $9.3 million, or $3.66 per share, for the same period in the previous year. Net loss includes stock-based compensation expense of $2.9 million and $1.3 million for the quarters ended September 30, 2014 and 2013, respectively.Karyopharm Therapeutics Inc (NASDAQ:KPTI) expects that its existing cash and cash equivalents will fund its research and development programs and operations into the second half of 2017, including moving our two registration-directed clinical studies to their next data inflection points. Karyopharm expects to end 2014 with greater than $200 million in cash and cash equivalents.KPTI trades in a 52-week range of $15.50 to $47.98.Click here for a free comprehensive Trend Analysis Report
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