AI
Wednesday, January 30, 2013 8:59:16 PM
ER 130130: FB CHU LNVGY COP MUR FIO QCOM CTXS LLL BRCM FSL AMZN VMW STX NUE AKS X F NOC BA
Hong Kong stocks drop on energy, property shares(8:50 pm ET)
HONG KONG (MarketWatch) -- Hong Kong shares on Thursday retreated from near two-year highs after data showing the U.S. economy contracted in the fourth quarter and after the Federal Reserve said growth had paused in recent months, with property and energy stocks among those hit. The Hang Seng Index (HK:HSI: news, chart, profile) lost 0.5% to 23,696.26 and the Hang Seng China Enterprises Index fell 0.8% to 12,070.45. Cnooc Ltd. (HK:883: news, chart, profile) (CEO: news, chart, profile) fell 2.6% after issuing a below-forecast production estimate for 2013, while Kunlun Energy Co. (HK:135: news, chart, profile) (KLYCY: news, chart, profile) tumbled 3%. Among developers, Sino Land Co. (SNLAY: news, chart, profile) (HK:83: news, chart, profile) lost 2.2% and New World Development Co. (HK:17: news, chart, profile) (NDVLY: news, chart, profile) shed 2.1%. Shares of Chinalco Mining Corp. (HK:3668: news, chart, profile) skidded as trading began in the stock, with shares sliding to 1.62 Hong Kong dollars (20.8 U.S. cents) versus its initial public offering at HK$1.75. Shares of China Unicom Hong Kong Ltd. (CHU: news, chart, profile) (HK:762: news, chart, profile) rose 2% after its upbeat profit forecast, while Lenovo Group Ltd. (HK:992: news, chart, profile) (LNVGY: news, chart, profile) climbed 0.8% after posting a strong earnings growth. China's Shanghai Composite (CN:SHCOMP: news, chart, profile) edged up 0.3% to 2,388.47.
Facebook mobile users exceed desktop users(4:57 pm ET)
SAN FRANCISCO (MarketWatch) - Facebook Inc. said its mobile daily active users exceeded its desktop daily active users for the first time in the fourth quarter of 2012, highlighting its momentum in that arena. Facebook said it had a total of 1.1 billion monthly active users, up 25% year-over-year. The company also said its mobile revenue made up 23% of its total ad revenue, up from 14% in the last quarter. Facebook reported better-than-expected fourth-quarter financials, but analysts say it did not exceed much loftier expectations. The stock was down 1% after hours.
Facebook 'not a blowout,' but still solid, analyst(4:37 pm ET)
SAN FRANCISCO (MarketWatch) -- Facebook Inc. shares were down 1% in after-hours trading Wednesday despite posting results that beat Wall Street expectations. Topeka Capital analyst Victor Anthony said the report was "not a blowout that some were expecting, but a good solid beat versus expectations." Mobile revenue made up 23% of Facebook's total ad revenue, up from 14% last quarter. Some analysts were expecting a higher share for mobile revenues. Topeka's Anthony projected 24%, while Aaron Kessler at Raymond James said he was looking for mobile revenue to be up to 26%.
Fusion-io slumps after hours; outlook disappoints(4:28 pm ET)
SAN FRANCISCO (MarketWatch) -- Fusion-io Inc. (FIO: news, chart, profile) shares plunged by more than 22% in after-hours trading Wednesday after the memory-technology company forecast fiscal third-quarter sales far below Wall Street analysts' forecasts. Fusion said it expects to report revenue of $80 million, while analysts surveyed by FactSet forecast sales of $137.1 million. The forecast outweighed any upbeat sentiment over Fusion's second-quarter report in which the company earned $1.7 million, or 2 cents a share, on revenue of $120.6 million. During the year-ago quarter, Fusion lost $5.7 million, or 7 cents a share, on $118.1 million in sales. Excluding one-time items, the company would have earned 13 cents a share. Analysts surveyed by FactSet had forecast Fusion-io to earn 8 cents a share on $119.9 million in revenue.
Qualcomm gains as results, forecast beat estimates(4:24 pm ET)
SAN FRANCISCO (MarketWatch) -- Qualcomm Inc. (QCOM: news, chart, profile) saw its shares jump more than 5% on Wednesday afternoon in after-hours trades after the wireless chipmaker posted better-than-expected results for its first fiscal quarter and issued a forecast that was also above analysts' expectations. Revenues jumped 29% to $6.02 billion, while net income grew 32% to $2.2 billion and diluted earnings per share came in at $1.26. Analysts were looking for earnings of $1.13 per share on revenue of $5.9 billion, according to consensus forecasts from FactSet. The company projected a revenue range of $5.8 billion to $6.3 billion, with an EPS range of $1.10-$1.18 for the March quarter. Analysts had been expecting earnings of $1.10 per share on revenue of $5.9 billion for the quarter.
Citrix Systems' earnings rise more than 4%(4:15 pm ET)
SAN FRANCISCO (MarketWatch) -- Citrix Systems Inc. (CTXS: news, chart, profile) on Wednesday reported a fourth-quarter profit of $114 million, or 60 cents a share, on revenue of $740 million. During the same period a year ago, the business-software company earned $109 million, or 58 cents a share, on $619 million in sales. Excluding one-time items, Citrix would have earned $169 million, or 90 cents a share. Analysts surveyed by FactSet had forecast Citrix to earn 84 cents a share on $705.8 million in revenue. For its first quarter, Citrix expects to earn between 62 cents and 63 cents a share on revenue of $670 million to $680 million. Citrix's shares rose almost 9% in after-hours trading following the release of its results.
Facebook profit dips but results beat Street(4:13 pm ET)
SAN FRANCISCO (MarketWatch) - Facebook Inc. (FB: news, chart, profile) on Wednesday reported a fourth-quarter profit of 64 million, 3 cents share, compared with a profit of $205 million, or 14 cents a share, for the year-earlier period. Revenue rose to $1.59 billion from $1.13 billion. Adjusted profit was 17 cents a share. Analysts polled by FactSet on average expect the Menlo Park, Calif.-based company to report a profit of 15 cents a share, on revenue of $1.51 billion. Facebook shares were down 6% in after-hours trading.
EA revenue falls as retail game sales slide(4:07 pm ET)
SAN FRANCISCO (MarketWatch) -- Electronic Arts Inc. (EA: news, chart, profile) reported weaker-than-expected revenue for its third fiscal quarter on Wednesday afternoon. For the period ended Dec. 31, EA reported a net loss of $45 million, or 15 cents per share, compared with a net loss of $205 million or 62 cents per share for the same period the previous year. Adjusted for items like stock-based compensation and deferred sales from certain game titles, EA said it would have earned $176 million, or 57 cents a share, for the recent quarter. Analysts had been expecting adjusted earnings of 56 cents a share for the period, according to consensus projections from FactSet. Total revenue fell by 13% at $922 million. Adjusted net revenue was $1.18 billion for the quarter - below the $1.29 billion projected by analysts.
Facebook shares up 1.6% ahead of results.(3:59 pm ET)
SAN FRANCISCO (MarketWatch) - Shares of Facebook Inc. (FB: news, chart, profile) were up 1.6% at $31.27 on Wednesday ahead of the social networking company's fourth-quarter results. Analysts polled by FactSet on average expect the Menlo Park, Calif.-based company to report a profit of 15 cent a share, on revenue of $1.51 billion.
Boeing 'confident' it'll solve 787 battery problem(10:59 am ET)
NEW YORK (MarketWatch)_ -- Boeing Co. (BA: news, chart, profile) Chief Executive Officer Jim McNerney said the airplane maker has made progress in its investigation of battery fires in the 787 Dreamliner. "We will get to the bottom of this," McNerney said on the company's fourth-quarter earnings conference call on Wednesday. He did not lay out a time line for resolution of the issue, which prompted the Federal Aviation Administration to ground the planes on Jan. 16 pending a probe. McNerney said Boeing engineers are working around the clock on the battery issue while production of the plane continues. Boeing said it has halted delivery on the plane, however. Boeing remains "confident in the future of the program," McNerney said. Shares of Boeing rose 1.3% in recent trades. The company plans to buy back up to $2 billion in stock in 2013.
Meritor's shares fall following results, update(9:09 am ET)
WASHINGTON (MarketWatch) -- Shares of Meritor Inc. (MTRO: news, chart, profile) shed more than 6% in the premarket as investors reacted to the Troy, Mich.-based company's shortfall for the first quarter ended Dec. 31 and updated outlook for fiscal 2013. The supplier of auto parts posted a net loss of $21 million, or 22 cents a share, for the latest quarter, narrower than the prior year's loss of $22 million, or 23 cents a share, as sales dropped to $891 million from $1.16 billion. Chairman and Chief Executive Chip McClure called Meritor's performance for the quarter "slightly below our expectations." As revised, management now foresees Meritor generating revenue of about $3.8 billion for fiscal 2013, down from $4 billion previously, but affirmed a target range of 25 cents to 35 cents a share for adjusted earnings from continuing operations. Meritor had an adjusted loss from continuing operations of 11 cents a share for the December quarter.
Boeing view assumes no impact from 787 probe (7:48 am ET)
NEW YORK (MarketWatch) -- Boeing Co. (BA: news, chart, profile) said Wednesday its fourth-quarter profit fell 30% to $978 million, or $1.28 a share, from $1.39 billion, or $1.84 a share, in the year-ago period. The airplane maker's adjusted profit dipped to $1.46 a share from $1.92 a share. Revenue rose 14% to $22.3 billion. Wall Street analysts expected the company to earn $1.19 a share on revenue of $22.3 billion, according to a survey by FactSet. Looking ahead, Boeing said its adjusted 2013 profit estimate of $6.10 to $6.30 a share assumes "no significant financial impact" from a move on Jan. 16 by the Federal Aviation Administration to ground the 787 Dreamliner pending a probe of its battery. While production continues on the 787, the company said it's suspending deliveries until clearance is granted by the FAA. "Our first order of business for 2013 is to resolve the battery issue on the 787 and return the airplanes safely to service with our customers," the company said. Boeing shares rose 1% in premarket trades.
L-3 Communications up target range for 2013 profit(7:40 am ET)
WASHINGTON (MarketWatch) -- L-3 Communications Holdings Inc. (LLL: news, chart, profile) reported fourth-quarter net income of $212 million, or $2.25 a share, off from $274 million, or $2.72 a share, earned in the final three months of 2011. Quarterly sales reached $3.56 billion, up modestly from the prior year's $3.54 billion. The consensus of earnings estimates for the New York-based company had been for a profit of $2.12 a share for the latest quarter. Funded orders were up 17% to $3.3 billion, L-3 said, with funded backlog up 10% to $10.9 billion as of the end of 2012. For 2013, L-3 updated its profit outlook to a range of $8.15 to $8.35 a share for continuing operations, up from $7.95 to $8.15 a share previously, and affirmed its full-year sales forecast at $12.55 billion to $12.75 billion.
Northrop Grumman profit falls (7:29 am ET)
NEW YORK (MarketWatch) -- Northrop Grumman Corp. (NOC: news, chart, profile) said Wednesday its fourth-quarter earnings from continuing operations fell to $533 million, or $2.14 a share, from $550 million, or $2.09 a share, in the year-ago period. Adjusted earnings from continuing operations rose to $2.06 a share from $1.85 a share. Sales dipped to $6.48 billion from $6.51 billion. Wall Street analysts expected Northrop to earn $1.74 a share on sales of $6.37 billion, according to a survey by FactSet. Looking ahead, Northrop expects adjusted 2013 profit of $6.85-$7.15 a share, compared to the analyst forecast of $6.97 a share. There were about 5% fewer weighted average diluted shares outstanding in the latest quarter.
Tuesday, Jan. 29
Ryland's quarterly profit leaps up(4:35 pm ET)
WASHINGTON (MarketWatch) -- The Ryland Group Inc. (RYL: news, chart, profile) reported Tuesday afternoon that its fourth-quarter net income leaped up from the prior year on greater new orders and closings, and a higher backlog. Ryland's fourth-quarter net income rose to $28.6 million, or 55 cents per diluted share, from $812,000, or 2 cents a share, during the same period in the prior year. Per-share earnings from continuing operations rose to 56 cents in the fourth quarter from three cents during the same period in the prior year, the home builder and mortgage-finance company reported. A consensus view among Wall Street analysts had expected per-share earnings of 49 cents, according to a survey by FactSet. Ryland's fourth-quarter revenue rose to $440.1 million from $261.4 million. Analysts had forecast sales of $407 million.
Broadcom profit slips, outlook weak(4:23 pm ET)
SAN FRANCISCO (MarketWatch) - Broadcom Corp. (BRCM: news, chart, profile) on Tuesday reported a fourth-quarter profit of $251 million, or 43 cents a share, compared with a profit of $254 million, or 45 cents a share, for the year-earlier period. Revenue was $2.08 billion, up from $1.82 billion. Adjusted profit was 76 cents a share. Analysts polled by FactSet on average expected the chip maker to report a profit of 74 cents a share, on revenue of $2.06 billion. Broadcom also announced that its board has raised its quarterly cash dividend by 10% to 11 cents a share. For the current quarter, Broadcom expects revenue of about $1.9 billion, plus or minus 4%. Analysts were expecting revenue of $2 billion, according to data from FactSet. Shares of Broadcom were down 1% in after-hours trading.
Freescale loss widens, but results beat Street (4:12 pm ET)
SAN FRANCISCO (MarketWatch) -- Freescale Semiconductor Ltd. (FSL: news, chart, profile) on Tuesday reported a fourth-quarter loss of $35 million, or 14 cents a share, compared with a loss of $6 million or 2 cents a share for the year-earlier period. Revenue slipped to $957 million from $1.01 billion. On an adjusted basis, the company reported a loss of 15 cents a share. Analysts polled by FactSet on average were expecting the chip maker to report a loss of 17 cents a share on revenue of $940.43 million.
Amazon's earnings fall 45%(4:05 pm ET)
SAN FRANCISCO (MarketWatch) -- Amazon.com Inc. (AMZN: news, chart, profile) on Tuesday reported a fourth-quarter profit of $97 million, or 21 cents a share, on revenue of $21.27 billion. During the same period a year ago, the online retailing giant earned $177 million, or 38 cents a share, on $17.43 billion in sales. Analysts surveyed by FactSet had forecast Amazon to earn 28 cents a share on revenue of $22.26 billion. Operating income, considered a key measure of Amazon's business performance, came in at $405 million, compared with $260 million in the year-ago period. The company forecast first-quarter revenue in a range of $15 billion to $16.6 billion, and expects operational results to be between a loss of $285 million and a profit of $65 million.
VMware, EMC, Seagate lead early tech losses(9:36 am ET)
SAN FRANCISCO (MarketWatch) -- Tech stocks retreated in early trading Tuesday, with notable losses coming from VMware Inc. (VMW: news, chart, profile) , EMC Corp. (EMC: news, chart, profile) , Seagate Technology (STX: news, chart, profile) and Lexmark International Inc. (LXK: news, chart, profile) . VMware's shares fell 22%, while EMC, Seagate and Lexmark each gave up at least 7% on negative reaction to their earnings reports or outlooks. Yahoo Inc. (YHOO: news, chart, profile) , however, managed to rise 2% to $20.71 following its late-Monday earnings results. The Nasdaq Composite Index ($COMPQ: news, chart, profile) shed 7 points to fall to 3,146.
Nucor profit flat as steel prices dip(9:26 am ET)
NEW YORK (MarketWatch) -- Nucor Corp. (NUE: news, chart, profile) said Tuesday its fourth-quarter profit remained about flat at $136.9 million, or 43 cents a share, compared to $137.1 million, or 43 cents a share, in the year-ago period. The steel company's revenue dropped 8% to $4.45 billion as the average sales price per ton fell 4%. Wall Street analysts expected Nucor to earn 31 cents a share on sales of $4.54 billion, according to a survey by FactSet. Total tons shipped to outside customers were 5.48 million tons, down 4%. Shares of Nucor dropped 0.3% in premarket trades.
AK Steel loss widens, adjusted figure beats view(8:52 am ET)
NEW YORK (MarketWatchy) -- AK Steel (AKS: news, chart, profile) said Tuesday its fourth-quarter loss widened to $230.4 million, or $1.89 a share, from a loss of $193.9 million, or $1.76 a share, in the year-ago period. Adjusted loss in the latest quarter totaled 30 cents a share. Revenue fell to $1.42 billion from $1.51 billion. Analysts expected the company to lose 37 cents a share on sales of $1.42 billion, according to a survey by FactSet. Shares of AK Steel rose 4% in premarket trades.
Illinois Tool Works profit more than doubles(8:30 am ET)
NEW YORK (MarketWatch) -- Illinois Tool Works Inc. (ITW: news, chart, profile) said Tuesday its fourth-quarter profit increased to $979 million, or $2.11 a share, from $442 million, or 91 cents a share, in the year-ago period. Adjusted profit rose to 89 cents a share from 88 cents a share. Revenue fell 2.3% to $4.22 billion. Excluding the impact of divesting units, total revenue would have increased about 2%. Wall Street analysts expected the industrial firm to earn 89 cents a share on sales of $4.16 billion, according to a survey by FactSet.
United States Steel loss narrows, beats estimate(8:03 am ET)
NEW YORK (MarketWatch) -- United States Steel Corp. (X: news, chart, profile) said Tuesday its fourth-quarter loss narrowed to $50 million, or 35 cents a share, from a year-ag0 loss of $211 million, or $1.46 a share. Net loss for the latest quarter included a favorable settlement of 6 cents a share related to a supplier contract dispute. Revenue at the industrial firm fell to $4.5 billion from $4.8 billion. Wall Street analysts expected the company to lose 70 cents a share on sales of $4.3 billion, according to a survey by FactSet.
JetBlue posts thin profit after Sandy impact(7:46 am ET)
NEW YORK (MarketWatch) -- JetBlue Airways Corp. (JBLU: news, chart, profile) said Tuesday its fourth-quarter profit fell to $1 million, or breakeven per share, compared to $23 million, or 8 cents a share, in the year-ago quarter. Revenue rose 4% to $1.19 billion, despite a $45 million impact from Hurricane Sandy. Wall Street analysts expected the carrier to earn 2 cents a share on revenue of $1.2 billion, according to a survey by FactSet.
Ford's adjusted earnings beat expectations (7:44 am ET)
NEW YORK (MarketWatch) -- Ford Motor Co. (F: news, chart, profile) said its fourth-quarter net profit was $1.6 billion, or 40 cents per share. The Dearborn, Mich.-based company reported quarterly revenue of $36.5 billion, compared with $34.6 billion. Quarterly adjusted earnings were 31 cents a share compared to 20 cents a share in the same period a year ago. Analysts polled by Factset expected adjusted earnings of 25 cents per share on a revenue of $33.5 billion. Ford also said it expects its European operations to lose about $2 billion in 2013.
Pfizer Inc. profit up sharply, revenue dips 7%(7:30 am ET)
NEW YORK (MarketWatch) -- Pfizer Inc. (PFE: news, chart, profile) said Tuesday its fourth-quarter profit rose sharply to $6.3 billion, or 85 cents a share, from $1.4 billion, or 19 cents a share, in the year-ago period. The latest quarter included proceeds from the sale of its nutrition unit. Adjusted profit in the latest quarter totaled 47 cents a share. Revenue fell 7% to $15.07 billion. Wall Street analysts expected the company to earn 44 cents a share on sales of $14.4 billion, according to a survey by FactSet. Looking ahead, Pfizer expects adjusted 2013 profit of $2.20 to $2.30 a share, compared to the Wall Street estimate of $2.28 a share.
D.R. Horton's profit springs up in first quarter(7:23 am ET)
NEW YORK (MarketWatch) -- D.R. Horton Inc. (DHI: news, chart, profile) said Tuesday that its fiscal first-quarter net income rose to $66.3 million, or 20 cents per diluted share, from $27.7 million, or 9 cents a share, during the same period in the prior year. A consensus view among Wall Street analysts had expected per-share earnings of 14 cents for the home builder, according to a survey by FactSet. D.R. Horton's first-quarter sales hit higher than Wall Street's target, as the company reported home-building revenue reached $1.2 billion in the first quarter, while financial-services revenue reached $41.9 million. For the same period in the prior year, D.R. Horton reported home-building revenue of $884.3 million, and financial-services revenue of $21 million.
Harley posts lower profit, revenue(7:22 am ET)
LONDON (MarketWatch) -- Harley-Davidson Inc. (HOG: news, chart, profile) on Tuesday reported a fourth-quarter profit of $70.64 million, or 31 cents a share, down from $105.7 million, or 46 cents a share, a year ago. Analysts polled by FactSet Research were looking for a profit of 32 cents a share. Sales dipped to $1.17 billion from $1.18 billion a year earlier. Looking ahead, Harley said it expects to ship between 259,000 and 264,000 motorcycles in 2013, which would mark an increase of as much a 6.5% from 2012. "The ambitious restructuring of our manufacturing operations, aimed at delivering better responsiveness for customers and greater operating efficiency, is now largely behind us," Chairman and CEO Keith Wandell said.
BRCM FSL AMZN VMW STX NUE AKS X F NOC BA
Hong Kong stocks drop on energy, property shares(8:50 pm ET)
HONG KONG (MarketWatch) -- Hong Kong shares on Thursday retreated from near two-year highs after data showing the U.S. economy contracted in the fourth quarter and after the Federal Reserve said growth had paused in recent months, with property and energy stocks among those hit. The Hang Seng Index (HK:HSI: news, chart, profile) lost 0.5% to 23,696.26 and the Hang Seng China Enterprises Index fell 0.8% to 12,070.45. Cnooc Ltd. (HK:883: news, chart, profile) (CEO: news, chart, profile) fell 2.6% after issuing a below-forecast production estimate for 2013, while Kunlun Energy Co. (HK:135: news, chart, profile) (KLYCY: news, chart, profile) tumbled 3%. Among developers, Sino Land Co. (SNLAY: news, chart, profile) (HK:83: news, chart, profile) lost 2.2% and New World Development Co. (HK:17: news, chart, profile) (NDVLY: news, chart, profile) shed 2.1%. Shares of Chinalco Mining Corp. (HK:3668: news, chart, profile) skidded as trading began in the stock, with shares sliding to 1.62 Hong Kong dollars (20.8 U.S. cents) versus its initial public offering at HK$1.75. Shares of China Unicom Hong Kong Ltd. (CHU: news, chart, profile) (HK:762: news, chart, profile) rose 2% after its upbeat profit forecast, while Lenovo Group Ltd. (HK:992: news, chart, profile) (LNVGY: news, chart, profile) climbed 0.8% after posting a strong earnings growth. China's Shanghai Composite (CN:SHCOMP: news, chart, profile) edged up 0.3% to 2,388.47.
Facebook mobile users exceed desktop users(4:57 pm ET)
SAN FRANCISCO (MarketWatch) - Facebook Inc. said its mobile daily active users exceeded its desktop daily active users for the first time in the fourth quarter of 2012, highlighting its momentum in that arena. Facebook said it had a total of 1.1 billion monthly active users, up 25% year-over-year. The company also said its mobile revenue made up 23% of its total ad revenue, up from 14% in the last quarter. Facebook reported better-than-expected fourth-quarter financials, but analysts say it did not exceed much loftier expectations. The stock was down 1% after hours.
Facebook 'not a blowout,' but still solid, analyst(4:37 pm ET)
SAN FRANCISCO (MarketWatch) -- Facebook Inc. shares were down 1% in after-hours trading Wednesday despite posting results that beat Wall Street expectations. Topeka Capital analyst Victor Anthony said the report was "not a blowout that some were expecting, but a good solid beat versus expectations." Mobile revenue made up 23% of Facebook's total ad revenue, up from 14% last quarter. Some analysts were expecting a higher share for mobile revenues. Topeka's Anthony projected 24%, while Aaron Kessler at Raymond James said he was looking for mobile revenue to be up to 26%.
Fusion-io slumps after hours; outlook disappoints(4:28 pm ET)
SAN FRANCISCO (MarketWatch) -- Fusion-io Inc. (FIO: news, chart, profile) shares plunged by more than 22% in after-hours trading Wednesday after the memory-technology company forecast fiscal third-quarter sales far below Wall Street analysts' forecasts. Fusion said it expects to report revenue of $80 million, while analysts surveyed by FactSet forecast sales of $137.1 million. The forecast outweighed any upbeat sentiment over Fusion's second-quarter report in which the company earned $1.7 million, or 2 cents a share, on revenue of $120.6 million. During the year-ago quarter, Fusion lost $5.7 million, or 7 cents a share, on $118.1 million in sales. Excluding one-time items, the company would have earned 13 cents a share. Analysts surveyed by FactSet had forecast Fusion-io to earn 8 cents a share on $119.9 million in revenue.
Qualcomm gains as results, forecast beat estimates(4:24 pm ET)
SAN FRANCISCO (MarketWatch) -- Qualcomm Inc. (QCOM: news, chart, profile) saw its shares jump more than 5% on Wednesday afternoon in after-hours trades after the wireless chipmaker posted better-than-expected results for its first fiscal quarter and issued a forecast that was also above analysts' expectations. Revenues jumped 29% to $6.02 billion, while net income grew 32% to $2.2 billion and diluted earnings per share came in at $1.26. Analysts were looking for earnings of $1.13 per share on revenue of $5.9 billion, according to consensus forecasts from FactSet. The company projected a revenue range of $5.8 billion to $6.3 billion, with an EPS range of $1.10-$1.18 for the March quarter. Analysts had been expecting earnings of $1.10 per share on revenue of $5.9 billion for the quarter.
Citrix Systems' earnings rise more than 4%(4:15 pm ET)
SAN FRANCISCO (MarketWatch) -- Citrix Systems Inc. (CTXS: news, chart, profile) on Wednesday reported a fourth-quarter profit of $114 million, or 60 cents a share, on revenue of $740 million. During the same period a year ago, the business-software company earned $109 million, or 58 cents a share, on $619 million in sales. Excluding one-time items, Citrix would have earned $169 million, or 90 cents a share. Analysts surveyed by FactSet had forecast Citrix to earn 84 cents a share on $705.8 million in revenue. For its first quarter, Citrix expects to earn between 62 cents and 63 cents a share on revenue of $670 million to $680 million. Citrix's shares rose almost 9% in after-hours trading following the release of its results.
Facebook profit dips but results beat Street(4:13 pm ET)
SAN FRANCISCO (MarketWatch) - Facebook Inc. (FB: news, chart, profile) on Wednesday reported a fourth-quarter profit of 64 million, 3 cents share, compared with a profit of $205 million, or 14 cents a share, for the year-earlier period. Revenue rose to $1.59 billion from $1.13 billion. Adjusted profit was 17 cents a share. Analysts polled by FactSet on average expect the Menlo Park, Calif.-based company to report a profit of 15 cents a share, on revenue of $1.51 billion. Facebook shares were down 6% in after-hours trading.
EA revenue falls as retail game sales slide(4:07 pm ET)
SAN FRANCISCO (MarketWatch) -- Electronic Arts Inc. (EA: news, chart, profile) reported weaker-than-expected revenue for its third fiscal quarter on Wednesday afternoon. For the period ended Dec. 31, EA reported a net loss of $45 million, or 15 cents per share, compared with a net loss of $205 million or 62 cents per share for the same period the previous year. Adjusted for items like stock-based compensation and deferred sales from certain game titles, EA said it would have earned $176 million, or 57 cents a share, for the recent quarter. Analysts had been expecting adjusted earnings of 56 cents a share for the period, according to consensus projections from FactSet. Total revenue fell by 13% at $922 million. Adjusted net revenue was $1.18 billion for the quarter - below the $1.29 billion projected by analysts.
Facebook shares up 1.6% ahead of results.(3:59 pm ET)
SAN FRANCISCO (MarketWatch) - Shares of Facebook Inc. (FB: news, chart, profile) were up 1.6% at $31.27 on Wednesday ahead of the social networking company's fourth-quarter results. Analysts polled by FactSet on average expect the Menlo Park, Calif.-based company to report a profit of 15 cent a share, on revenue of $1.51 billion.
Boeing 'confident' it'll solve 787 battery problem(10:59 am ET)
NEW YORK (MarketWatch)_ -- Boeing Co. (BA: news, chart, profile) Chief Executive Officer Jim McNerney said the airplane maker has made progress in its investigation of battery fires in the 787 Dreamliner. "We will get to the bottom of this," McNerney said on the company's fourth-quarter earnings conference call on Wednesday. He did not lay out a time line for resolution of the issue, which prompted the Federal Aviation Administration to ground the planes on Jan. 16 pending a probe. McNerney said Boeing engineers are working around the clock on the battery issue while production of the plane continues. Boeing said it has halted delivery on the plane, however. Boeing remains "confident in the future of the program," McNerney said. Shares of Boeing rose 1.3% in recent trades. The company plans to buy back up to $2 billion in stock in 2013.
Meritor's shares fall following results, update(9:09 am ET)
WASHINGTON (MarketWatch) -- Shares of Meritor Inc. (MTRO: news, chart, profile) shed more than 6% in the premarket as investors reacted to the Troy, Mich.-based company's shortfall for the first quarter ended Dec. 31 and updated outlook for fiscal 2013. The supplier of auto parts posted a net loss of $21 million, or 22 cents a share, for the latest quarter, narrower than the prior year's loss of $22 million, or 23 cents a share, as sales dropped to $891 million from $1.16 billion. Chairman and Chief Executive Chip McClure called Meritor's performance for the quarter "slightly below our expectations." As revised, management now foresees Meritor generating revenue of about $3.8 billion for fiscal 2013, down from $4 billion previously, but affirmed a target range of 25 cents to 35 cents a share for adjusted earnings from continuing operations. Meritor had an adjusted loss from continuing operations of 11 cents a share for the December quarter.
Boeing view assumes no impact from 787 probe (7:48 am ET)
NEW YORK (MarketWatch) -- Boeing Co. (BA: news, chart, profile) said Wednesday its fourth-quarter profit fell 30% to $978 million, or $1.28 a share, from $1.39 billion, or $1.84 a share, in the year-ago period. The airplane maker's adjusted profit dipped to $1.46 a share from $1.92 a share. Revenue rose 14% to $22.3 billion. Wall Street analysts expected the company to earn $1.19 a share on revenue of $22.3 billion, according to a survey by FactSet. Looking ahead, Boeing said its adjusted 2013 profit estimate of $6.10 to $6.30 a share assumes "no significant financial impact" from a move on Jan. 16 by the Federal Aviation Administration to ground the 787 Dreamliner pending a probe of its battery. While production continues on the 787, the company said it's suspending deliveries until clearance is granted by the FAA. "Our first order of business for 2013 is to resolve the battery issue on the 787 and return the airplanes safely to service with our customers," the company said. Boeing shares rose 1% in premarket trades.
L-3 Communications up target range for 2013 profit(7:40 am ET)
WASHINGTON (MarketWatch) -- L-3 Communications Holdings Inc. (LLL: news, chart, profile) reported fourth-quarter net income of $212 million, or $2.25 a share, off from $274 million, or $2.72 a share, earned in the final three months of 2011. Quarterly sales reached $3.56 billion, up modestly from the prior year's $3.54 billion. The consensus of earnings estimates for the New York-based company had been for a profit of $2.12 a share for the latest quarter. Funded orders were up 17% to $3.3 billion, L-3 said, with funded backlog up 10% to $10.9 billion as of the end of 2012. For 2013, L-3 updated its profit outlook to a range of $8.15 to $8.35 a share for continuing operations, up from $7.95 to $8.15 a share previously, and affirmed its full-year sales forecast at $12.55 billion to $12.75 billion.
Northrop Grumman profit falls (7:29 am ET)
NEW YORK (MarketWatch) -- Northrop Grumman Corp. (NOC: news, chart, profile) said Wednesday its fourth-quarter earnings from continuing operations fell to $533 million, or $2.14 a share, from $550 million, or $2.09 a share, in the year-ago period. Adjusted earnings from continuing operations rose to $2.06 a share from $1.85 a share. Sales dipped to $6.48 billion from $6.51 billion. Wall Street analysts expected Northrop to earn $1.74 a share on sales of $6.37 billion, according to a survey by FactSet. Looking ahead, Northrop expects adjusted 2013 profit of $6.85-$7.15 a share, compared to the analyst forecast of $6.97 a share. There were about 5% fewer weighted average diluted shares outstanding in the latest quarter.
Tuesday, Jan. 29
Ryland's quarterly profit leaps up(4:35 pm ET)
WASHINGTON (MarketWatch) -- The Ryland Group Inc. (RYL: news, chart, profile) reported Tuesday afternoon that its fourth-quarter net income leaped up from the prior year on greater new orders and closings, and a higher backlog. Ryland's fourth-quarter net income rose to $28.6 million, or 55 cents per diluted share, from $812,000, or 2 cents a share, during the same period in the prior year. Per-share earnings from continuing operations rose to 56 cents in the fourth quarter from three cents during the same period in the prior year, the home builder and mortgage-finance company reported. A consensus view among Wall Street analysts had expected per-share earnings of 49 cents, according to a survey by FactSet. Ryland's fourth-quarter revenue rose to $440.1 million from $261.4 million. Analysts had forecast sales of $407 million.
Broadcom profit slips, outlook weak(4:23 pm ET)
SAN FRANCISCO (MarketWatch) - Broadcom Corp. (BRCM: news, chart, profile) on Tuesday reported a fourth-quarter profit of $251 million, or 43 cents a share, compared with a profit of $254 million, or 45 cents a share, for the year-earlier period. Revenue was $2.08 billion, up from $1.82 billion. Adjusted profit was 76 cents a share. Analysts polled by FactSet on average expected the chip maker to report a profit of 74 cents a share, on revenue of $2.06 billion. Broadcom also announced that its board has raised its quarterly cash dividend by 10% to 11 cents a share. For the current quarter, Broadcom expects revenue of about $1.9 billion, plus or minus 4%. Analysts were expecting revenue of $2 billion, according to data from FactSet. Shares of Broadcom were down 1% in after-hours trading.
Freescale loss widens, but results beat Street (4:12 pm ET)
SAN FRANCISCO (MarketWatch) -- Freescale Semiconductor Ltd. (FSL: news, chart, profile) on Tuesday reported a fourth-quarter loss of $35 million, or 14 cents a share, compared with a loss of $6 million or 2 cents a share for the year-earlier period. Revenue slipped to $957 million from $1.01 billion. On an adjusted basis, the company reported a loss of 15 cents a share. Analysts polled by FactSet on average were expecting the chip maker to report a loss of 17 cents a share on revenue of $940.43 million.
Amazon's earnings fall 45%(4:05 pm ET)
SAN FRANCISCO (MarketWatch) -- Amazon.com Inc. (AMZN: news, chart, profile) on Tuesday reported a fourth-quarter profit of $97 million, or 21 cents a share, on revenue of $21.27 billion. During the same period a year ago, the online retailing giant earned $177 million, or 38 cents a share, on $17.43 billion in sales. Analysts surveyed by FactSet had forecast Amazon to earn 28 cents a share on revenue of $22.26 billion. Operating income, considered a key measure of Amazon's business performance, came in at $405 million, compared with $260 million in the year-ago period. The company forecast first-quarter revenue in a range of $15 billion to $16.6 billion, and expects operational results to be between a loss of $285 million and a profit of $65 million.
VMware, EMC, Seagate lead early tech losses(9:36 am ET)
SAN FRANCISCO (MarketWatch) -- Tech stocks retreated in early trading Tuesday, with notable losses coming from VMware Inc. (VMW: news, chart, profile) , EMC Corp. (EMC: news, chart, profile) , Seagate Technology (STX: news, chart, profile) and Lexmark International Inc. (LXK: news, chart, profile) . VMware's shares fell 22%, while EMC, Seagate and Lexmark each gave up at least 7% on negative reaction to their earnings reports or outlooks. Yahoo Inc. (YHOO: news, chart, profile) , however, managed to rise 2% to $20.71 following its late-Monday earnings results. The Nasdaq Composite Index ($COMPQ: news, chart, profile) shed 7 points to fall to 3,146.
Nucor profit flat as steel prices dip(9:26 am ET)
NEW YORK (MarketWatch) -- Nucor Corp. (NUE: news, chart, profile) said Tuesday its fourth-quarter profit remained about flat at $136.9 million, or 43 cents a share, compared to $137.1 million, or 43 cents a share, in the year-ago period. The steel company's revenue dropped 8% to $4.45 billion as the average sales price per ton fell 4%. Wall Street analysts expected Nucor to earn 31 cents a share on sales of $4.54 billion, according to a survey by FactSet. Total tons shipped to outside customers were 5.48 million tons, down 4%. Shares of Nucor dropped 0.3% in premarket trades.
AK Steel loss widens, adjusted figure beats view(8:52 am ET)
NEW YORK (MarketWatchy) -- AK Steel (AKS: news, chart, profile) said Tuesday its fourth-quarter loss widened to $230.4 million, or $1.89 a share, from a loss of $193.9 million, or $1.76 a share, in the year-ago period. Adjusted loss in the latest quarter totaled 30 cents a share. Revenue fell to $1.42 billion from $1.51 billion. Analysts expected the company to lose 37 cents a share on sales of $1.42 billion, according to a survey by FactSet. Shares of AK Steel rose 4% in premarket trades.
Illinois Tool Works profit more than doubles(8:30 am ET)
NEW YORK (MarketWatch) -- Illinois Tool Works Inc. (ITW: news, chart, profile) said Tuesday its fourth-quarter profit increased to $979 million, or $2.11 a share, from $442 million, or 91 cents a share, in the year-ago period. Adjusted profit rose to 89 cents a share from 88 cents a share. Revenue fell 2.3% to $4.22 billion. Excluding the impact of divesting units, total revenue would have increased about 2%. Wall Street analysts expected the industrial firm to earn 89 cents a share on sales of $4.16 billion, according to a survey by FactSet.
United States Steel loss narrows, beats estimate(8:03 am ET)
NEW YORK (MarketWatch) -- United States Steel Corp. (X: news, chart, profile) said Tuesday its fourth-quarter loss narrowed to $50 million, or 35 cents a share, from a year-ag0 loss of $211 million, or $1.46 a share. Net loss for the latest quarter included a favorable settlement of 6 cents a share related to a supplier contract dispute. Revenue at the industrial firm fell to $4.5 billion from $4.8 billion. Wall Street analysts expected the company to lose 70 cents a share on sales of $4.3 billion, according to a survey by FactSet.
JetBlue posts thin profit after Sandy impact(7:46 am ET)
NEW YORK (MarketWatch) -- JetBlue Airways Corp. (JBLU: news, chart, profile) said Tuesday its fourth-quarter profit fell to $1 million, or breakeven per share, compared to $23 million, or 8 cents a share, in the year-ago quarter. Revenue rose 4% to $1.19 billion, despite a $45 million impact from Hurricane Sandy. Wall Street analysts expected the carrier to earn 2 cents a share on revenue of $1.2 billion, according to a survey by FactSet.
Ford's adjusted earnings beat expectations (7:44 am ET)
NEW YORK (MarketWatch) -- Ford Motor Co. (F: news, chart, profile) said its fourth-quarter net profit was $1.6 billion, or 40 cents per share. The Dearborn, Mich.-based company reported quarterly revenue of $36.5 billion, compared with $34.6 billion. Quarterly adjusted earnings were 31 cents a share compared to 20 cents a share in the same period a year ago. Analysts polled by Factset expected adjusted earnings of 25 cents per share on a revenue of $33.5 billion. Ford also said it expects its European operations to lose about $2 billion in 2013.
Pfizer Inc. profit up sharply, revenue dips 7%(7:30 am ET)
NEW YORK (MarketWatch) -- Pfizer Inc. (PFE: news, chart, profile) said Tuesday its fourth-quarter profit rose sharply to $6.3 billion, or 85 cents a share, from $1.4 billion, or 19 cents a share, in the year-ago period. The latest quarter included proceeds from the sale of its nutrition unit. Adjusted profit in the latest quarter totaled 47 cents a share. Revenue fell 7% to $15.07 billion. Wall Street analysts expected the company to earn 44 cents a share on sales of $14.4 billion, according to a survey by FactSet. Looking ahead, Pfizer expects adjusted 2013 profit of $2.20 to $2.30 a share, compared to the Wall Street estimate of $2.28 a share.
D.R. Horton's profit springs up in first quarter(7:23 am ET)
NEW YORK (MarketWatch) -- D.R. Horton Inc. (DHI: news, chart, profile) said Tuesday that its fiscal first-quarter net income rose to $66.3 million, or 20 cents per diluted share, from $27.7 million, or 9 cents a share, during the same period in the prior year. A consensus view among Wall Street analysts had expected per-share earnings of 14 cents for the home builder, according to a survey by FactSet. D.R. Horton's first-quarter sales hit higher than Wall Street's target, as the company reported home-building revenue reached $1.2 billion in the first quarter, while financial-services revenue reached $41.9 million. For the same period in the prior year, D.R. Horton reported home-building revenue of $884.3 million, and financial-services revenue of $21 million.
Harley posts lower profit, revenue(7:22 am ET)
LONDON (MarketWatch) -- Harley-Davidson Inc. (HOG: news, chart, profile) on Tuesday reported a fourth-quarter profit of $70.64 million, or 31 cents a share, down from $105.7 million, or 46 cents a share, a year ago. Analysts polled by FactSet Research were looking for a profit of 32 cents a share. Sales dipped to $1.17 billion from $1.18 billion a year earlier. Looking ahead, Harley said it expects to ship between 259,000 and 264,000 motorcycles in 2013, which would mark an increase of as much a 6.5% from 2012. "The ambitious restructuring of our manufacturing operations, aimed at delivering better responsiveness for customers and greater operating efficiency, is now largely behind us," Chairman and CEO Keith Wandell said.
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