AI
Wednesday, January 23, 2013 9:30:34 PM
Apple shares tumble as forecast disappoints(4:54 pm ET)
SAN FRANCISCO (MarketWatch) -- Apple Inc. saw its shares tumble more than 5% in after-hours trades on Wednesday following its first fiscal quarter earnings report. While iPhone sales were at the low end of estimates for the December period, Apple's (AAPL: news, chart, profile) revenue guidance for the March quarter also fell below estimates. The company predicted a revenue range of $41 billion to $43 billion, while analysts were expecting $45.6 billion, according to FactSet. The company also did not give an EPS forecast for the period, breaking with past practices. Its gross margin forecast had a mid-point of 38%, which will disappoint investors hoping the company could return to its normal level above 40%.
Western Digital posts higher profit, sales(4:47 pm ET)
SAN FRANCISCO (MarketWatch) - Western Digital Corp. (WDC: news, chart, profile) on Wednesday reported a fiscal second-quarter profit of $335 million, or $1.36 a share, compared with a profit of $145 million or 61 cents a share for the year-earlier period. Revenue was $3.82 billion, up from $2 billion. Adjusted profit was $2.09 a share. Analysts polled by FactSet on average were expecting the hard-drive maker to report a profit of $1.82 a share on revenue of $3.67 billion.
SanDisk profit drops, but results beat Street(4:36 pm ET)
SAN FRANCISCO (MarketWatch) - SanDisk Corp. (SNDK: news, chart, profile) on Wednesday reported a fourth-quarter profit of $213.54 million, or 87 cents a share, compared with a profit of $281.22 million or $1.14 a share for the year-earlier period. Revenue was $1.54 billion, down from $1.58 billion. Adjusted profit was $1.05 a share. Analysts polled by FactSet on average were expecting the chip maker to report a profit of 74 cents a share on revenue of $1.53 billion. SanDisk shares were up nearly 3% in after-hours trading.
http://www.marketwatch.com/news/markets/earningswatch.asp
Shares in IBM Corp (IBM.N), the world's largest technology services company, climbed 4.4 percent during regular market hours to $204.72, providing just about all of the Dow's 67-point gain.
Also helping the tech sector was a 5.5 percent jump in Google Inc (GOOG.O) to $741.50. The Internet search company reported its core business outpaced expectations and revenue was higher than expected.
But Apple (AAPL.O), still the largest U.S. publicly traded company, fell 8 percent in extended trading after sales of its flagship iPhone came in below analyst targets and quarterly revenue slightly missed Wall Street expectations.
Netflix (NFLX.O) shares soared 32 percent, above $136, after the video subscription service said it added subscribers in the United States and abroad and posted a quarterly profit.
LED maker Cree Inc (CREE.O) jumped 22 percent to $40.85 after it forecast a higher-than-expected third-quarter profit, and reported results above analysts' estimates.
Upscale leather goods maker Coach Inc (COH.N) plunged 16.4 percent to $50.75 after reporting sales that missed expectations.
http://www.reuters.com/article/2013/01/23/us-markets-stocks-idUSBRE90L0DA20130123
SAN FRANCISCO (MarketWatch) -- Apple Inc. saw its shares tumble more than 5% in after-hours trades on Wednesday following its first fiscal quarter earnings report. While iPhone sales were at the low end of estimates for the December period, Apple's (AAPL: news, chart, profile) revenue guidance for the March quarter also fell below estimates. The company predicted a revenue range of $41 billion to $43 billion, while analysts were expecting $45.6 billion, according to FactSet. The company also did not give an EPS forecast for the period, breaking with past practices. Its gross margin forecast had a mid-point of 38%, which will disappoint investors hoping the company could return to its normal level above 40%.
Western Digital posts higher profit, sales(4:47 pm ET)
SAN FRANCISCO (MarketWatch) - Western Digital Corp. (WDC: news, chart, profile) on Wednesday reported a fiscal second-quarter profit of $335 million, or $1.36 a share, compared with a profit of $145 million or 61 cents a share for the year-earlier period. Revenue was $3.82 billion, up from $2 billion. Adjusted profit was $2.09 a share. Analysts polled by FactSet on average were expecting the hard-drive maker to report a profit of $1.82 a share on revenue of $3.67 billion.
SanDisk profit drops, but results beat Street(4:36 pm ET)
SAN FRANCISCO (MarketWatch) - SanDisk Corp. (SNDK: news, chart, profile) on Wednesday reported a fourth-quarter profit of $213.54 million, or 87 cents a share, compared with a profit of $281.22 million or $1.14 a share for the year-earlier period. Revenue was $1.54 billion, down from $1.58 billion. Adjusted profit was $1.05 a share. Analysts polled by FactSet on average were expecting the chip maker to report a profit of 74 cents a share on revenue of $1.53 billion. SanDisk shares were up nearly 3% in after-hours trading.
http://www.marketwatch.com/news/markets/earningswatch.asp
Shares in IBM Corp (IBM.N), the world's largest technology services company, climbed 4.4 percent during regular market hours to $204.72, providing just about all of the Dow's 67-point gain.
Also helping the tech sector was a 5.5 percent jump in Google Inc (GOOG.O) to $741.50. The Internet search company reported its core business outpaced expectations and revenue was higher than expected.
But Apple (AAPL.O), still the largest U.S. publicly traded company, fell 8 percent in extended trading after sales of its flagship iPhone came in below analyst targets and quarterly revenue slightly missed Wall Street expectations.
Netflix (NFLX.O) shares soared 32 percent, above $136, after the video subscription service said it added subscribers in the United States and abroad and posted a quarterly profit.
LED maker Cree Inc (CREE.O) jumped 22 percent to $40.85 after it forecast a higher-than-expected third-quarter profit, and reported results above analysts' estimates.
Upscale leather goods maker Coach Inc (COH.N) plunged 16.4 percent to $50.75 after reporting sales that missed expectations.
http://www.reuters.com/article/2013/01/23/us-markets-stocks-idUSBRE90L0DA20130123
My post is for my entertainment, do your own DD before pushing your
buy/sell buttons
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
