AMD Post-ER Charts Technology stocks rose broadly after Advanced Micro Devices Inc. reported strong second-quarter earnings and said its new computer graphics chip was selling well.
HGSI Post-ER Charts Analyst calls Human Genome sell-off "overdone" In a note to investors Friday, Leerink Swann analyst Joseph Schwartz said that the current sell-off of shares of Human Genome Sciences (HGSI) was "overdone." Investors pushed down shares of the biotech group by almost 8% to $21.28 Friday on concerns that quarterly sales of the company's new lupus drug Benlysta were weaker than expected. "We believe today's Human Genome stock weakness is overdone, misplaced and likely a knee-jerk reaction to the headline 'miss' last night after the close," wrote Schwartz. "In fact including $1.2 million stocking, as some companies would report the numbers, Benlysta sales (plus deferred sales) actually beat expectations. We think the numbers going forward are very achievable and would use weakness as buying opportunity," Schwartz added. As of 7-22-2011
CAT Post-ER Charts Caterpillar profit up 44%, raises 2011 guidance Caterpillar Inc. (CAT) on Friday reported fiscal second quarter earnings of $1.02 billion, $1.52 a share, compared $707 million, or $1.09 a share in the year ago period. Total revenue was $14.23 billion, 37% higher than the same period last year. On continuing basis, revenue excluding a $204 million expense related to the acquisition of Bucyrus, net income rose to $1.72 a share, up from $1.09 a share in second quarter last year. Analysts surveyed by FactSet research expected earnings of $1.74 a share, on revenue of $13.30 billion. Caterpillar raised its guidance for 2011 to revenues in the range of $54 to $56 billion and earnings per share of $6.75 to $7.25, excluding the impact of the Bucyrus acquisition. The Peoria, Ill.-based company previously expected revenues between $52 and $54 billion and earnings per share of $6.25 to $6.75. Shares of Caterpillar dropped 5.5% in pre-market trading.
WDC Post-ER Charts Western Digital earnings fall by more than 40% Western Digital Corp. (WDC) on Thursday reported a fiscal fourth-quarter profit of $158 million, or 67 cents a share, on revenue of $2.4 billion, compared with earnings of $265 million, or $1.13 a share, on $2.38 billion in sales in the year-ago quarter. Excluding $35 million in expenses related to Western Digital's acquisition of Hitachi Global Storage Technologies, Western Digital would have earned $193 million, or 81 cents a share. Analysts surveyed by FactSet Research had forecast Western Digital to earn 68 cents a share on $2.3 billion in revenue.
SNDK Post-ER Charts SanDisk earnings beat targets on revenue gain SanDisk Corp. reported better-than-expected sales and earnings for the second quarter on Thursday afternoon, thanks to strong demand for its flash memory products. For the quarter ended June 30, SanDisk (SNDK) reported net income of $248 million, or $1.02 a share, compared to net income of $258 million, or $1.08 a share, for the same period the previous year. Earnings on a non-GAAP basis came in at $278 million, or $1.14 a share, for the recent period. Analysts were expecting earnings of 99 cents a share on revenue of $1.34 billion, according to consensus estimates from FactSet Research.
MSFT Post-ER Charts Microsoft profit rises 30% in fourth quarter Microsoft Corp. (MSFT) said Thursday its fiscal fourth-quarter net income rose to $5.87 billion, or 69 cents a share, from $4.52 billion, or 51 cents a share in the same period last year. The Redmond, Wash.-based software firm said revenue for the period ended June 30 rose 8% to $17.4 billion. Analysts polled by FactSet Research had expected Microsoft to report earnings of 59 cents a share, and $17.2 billion in revenue for the quarter.
AAPL Post-ER Charts Thursday, 21 Jul 2011 08:43pm EDT Reuters reported that according to Bloomberg, Apple Inc. is in early talks to join the bidding for Hulu, the online video site that Walt Disney Co, News Corp and its other owners have put up for sale. Apple has begun preliminary discussions that may eventually lead to an acquisition.
Tuesday, 19 Jul 2011 04:30pm EDT Apple Inc. reported a surge in earnings on Tuesday afternoon, solidly beating Wall Street’s estimates thanks to better-than-expected sales of the company’s iPhone and iPad product lines. Earnings for Apple’s fiscal third quarter more than doubled from the same period last year, and the company generated more than $11 billion in cash from operations during the period.
When the stock resumed trading in after-hours action, it jumped about 7% to $402.73. The shares ended the regular session up 0.8% at $376.85.
“Obviously, it’s a pretty astounding number,” said analyst Scott Sutherland of Wedbush in an interview, speaking of the earnings growth.
The stock has jumped about 19% over the last month, in contrast to a flat first half of the year.
In the three months that ended June 25, Apple /quotes/zigman/68270/quotes/nls/aapl AAPL +5.44% said it earned $7.3 billion, or $7.79 a share, compared to $3.25 billion, or $3.51 a share, for the comparable period the previous year.
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