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Friday, June 12

Tech stocks weighed down by Nat Semi(9:41 am ET)
SAN FRANCISCO (MarketWatch) -- Technology stocks slipped in early trading Friday, led down by the broader market as well as by weakness at National Semiconductor (NSM: news, chart, profile) , a chipmaker that reported a large quarterly loss late Thursday. Shares of National Semiconductor fell more than 6% after the opening bell. The tech-heavy Nasdaq Composite Index ($COMPQ: news, chart, profile) slipped 0.7% to 1,849, while the Morgan Stanley High-Tech Index (MSH: news, chart, profile) fell 1% to 460. The Philadelphia Semiconductor Index (SOXX: news, chart, profile) was off 2% in early trades.

Gasoline prices rise a penny to $2.64 a gallon(7:28 am ET)
NEW YORK (MarketWatch) -- Average U.S. retail gasoline prices rose a penny to $2.64 a gallon on Friday, up a penny from the previous day, according to the AAA Daily Fuel Gauge Report. A week ago, gasoline sold for $2.59 a gallon. A month ago, it sold for $2.27 a gallon. A year ago, gasoline cost $4.06 a gallon, on average.
Thursday, June 11

National Semiconductor swing to $63.7 million loss(4:10 pm ET)
SAN FRANCISCO (MarketWatch) -- National Semiconductor Corp. (NSM: news, chart, profile) on Thursday reported a fiscal fourth-quarter loss of $63.7 million, or 28 cents a share, on revenue of $281 million. Analysts surveyed by Thomson Reuters had forecast National Semi to lose 38 cents a share on $273 million in sales. During the same period a year ago, the analog chip maker earned $83.2 million, or 34 cents a share, on revenue of $462 million. For its fiscal first quarter, the company estimates sales will be between $285 mililon and $305 million.

Palm, Qualcomm highlight early tech trading action(9:42 am ET)
SAN FRANCISCO (MarketWatch) -- Palm Inc. (PALM: news, chart, profile) and Qualcomm Inc. (QCOM: news, chart, profile) were in the tech-sector spotlight in early trading Thursday, as the tech sector tried to turn around from the previous session's losses. Palm rose 36 cents a share, or 3%, to $12.35 after the smart phone maker named Jon Rubenstein as its new CEO, while Qualcomm gave up 58 cents a share to trade at $45.47 after the company raised its third-quarter revenue and earnings forecasts, but said it is still cautious about the weak global economy. The tech-heavy Nasdaq Composite Index ($COMPQ: news, chart, profile) rose 5 poinst to 1,858.

Qualcomm boosts third-quarter outlook (9:11 am ET)
NEW YORK (MarketWatch) -- Qualcomm Inc. (QCOM: news, chart, profile) on Thursday boosted its third-quarter revenue outlook to $2.67 billion to $2.77 billion, based on demand for high-end phone chips. The tech firm's earlier revenue view was $2.4 billion to $2.6 billion. Qualcomm now expects third-quarter operating profit of $830 million to $880 million, up sharply from its earlier estimate of $550 million to $650 million. "We are very pleased to raise our fiscal third quarter guidance, reflecting the strong worldwide demand for wireless broadband powered by 3G CDMA," the company said. Shares rose 1% to $46.59 in pre-market trades.

GE Energy inks $500 million power plant pact (8:13 am ET)
NEW YORK (MarketWatch) -- GE Energy, a unit of General Electric Co. (GE: news, chart, profile) , said Thursday it inked $500 million in contracts to equip Al Dur Independent Water and Power Project, the largest power plant in the Kingdom of Bahrain. GE will supply gas turbines and other gear for the plant, which will provide 1,250 megawatts of power and provide about 30% of the kingdom's existing electricity output, as well as 48 million imperial gallons of desalinated water a day. GE also signed a 20-year contractual service agreement contract for the project, which will support the long-term operability and performance of the turbines.

Clorox hikes quarterly dividend 9% (7:55 am ET)
NEW YORK (MarketWatch) -- The Clorox Co. (CLX: news, chart, profile) said its board declared a quarterly dividend of 50 cents a share, payable Aug. 14 to stockholders of record on July 27. The amount represents an increase of 4 cents a share, or 9%, in the company's quarterly dividend. Clorox confirms 2010 earnings per share in the $4.00-to-$4.15 range and 1% to 2% sales growth. FactSet Research analysts estimate, on average, earnings per share of $4.18 for the period. Clorox also said it sees sales growth through fiscal 2013 of 3% to 5% annually.

Genesee & Wyoming cuts earnings forecast(6:51 am ET)
LONDON (MarketWatch) -- Railroad operator Genesee & Wyoming Inc. (GWR: news, chart, profile) on Thursday warned its second-quarter earnings will be below previous expectations after a decline in railroad traffic. The group said it's expecting second-quarter earnings from continuing operations of 35 cents to 37 cents a share on revenue of $130 million. It had previously forecast earnings of around 45 cents a share on revenue of $140 million to $145 million. Genesee & Wyoming said traffic in the second quarter through May was down 5.5% compared to a year ago and same-railroad traffic has slumped 21.4%. The group said it has reduced its active locomotive fleet by 17 units since the end of the first quarter and put an additional 70 employees on leave.