QUALCOMM (QCOM) 62.98 +3.48: -- Update -- In MarQ, QCOM sold a record 16 mln MSM chips, but due to "uncertainty in
global economic conditions," JunQ MSM unit shipments are expected to decrease to 14 mln units. Chipset demand should accelerate in
succeeding quarters as CDMA2000 1x systems are deployed by numerous operators. Also, chipset market share will increase with its
first-to-market 3G products and with further differentiation achieved by position-location and BREW-based applications....See earlier
comment for new EPS guidance....stock selling off to 54.40.
PeopleSoft (PSFT) 29.93 -0.06: -- Update -- On conference call, mgmt suggests the economy is deteriorating rapidly but "own internal
metrics continue to be quite strong." Sees the deteriorating demand environment and improved internal dynamics offsetting one another
which is the rationale for retained guidance. PSFT +3.12
Foundry Networks (FDRY) 10.73 +0.57: -- Update -- On conference call, company says visibility has improved but there are still
macroeconomic risks. Also notes that April has been a "whole lot better than January." Company does cite increased pricing pressures as
partly responsible for lower margins in Mar qtr, however. FDRY +0.52 to 11.25 after hours.
Symantec (SYMC) 57.27 -0.31: -- Update -- Conference call just concluded... overall tone was positive with analysts generally
commending company for a good quarter in tough environment... most of SYMC discussion focussed on strength of enterprise business
which is understandable given the softness on the consumer side and an awareness that enterprise accounted for 65% of total revenues...
SYMC +2.35
Wireless Initiative : Nokia (NOK), Motorola (MOT), and Ericsson (ERICY) will hold a joint conference call tomorrow to discuss
"new wireless industry initiative, reflective of the evolution of wireless services." Call: 8 am ET: Dial-in: 1-800-946-0705; confirmation
code: 723885.
PeopleSoft (PSFT) 29.93 -0.06: -- Update -- On conference call, mgmt is saying the current environment is hurting smaller to mid-size
companies. "In the end it will be an SAP, ORCL, PSFT, SEBL playing field."
Electr Data Sys (EDS) 63.27 -0.28: -- Update -- Company warns for Q2; sees revenues of $4.6 bln; estimate is $5.1 bln; current EPS
estimate is $0.62.
Helix Tech (HELX) 29.55 +1.45: -- Update -- Reports Q1 earnings of $0.22 per diluted share, $0.08 worse than the First Call
consensus mean estimate. Sales were down 3% to $48.6 million from $50.1 million a year ago. Company says, "While some industry
participants are forecasting a recovery in the second half of the year, we are continuing to adjust our own operations to reflect lowered
near-term expectations for orders from our major OEM customers." Applied Materails (AMAT) is HELX's largest customer.
PeopleSoft (PSFT) 29.93 -0.06: -- Update -- On conference call, management says it's "more confident about PSFT's position than ever,
but at the same time more apprehensive about the market." PSFT +3.77
After Hours Action : Winners: SYMC +2.7, PSFT +3.5, PLCM +0.75, QSFT +1.6, HOMS +0.75. Losers: QCOM -8, AFFX
-6.5, NUFO -2.
PeopleSoft (PSFT) 29.93 -0.06: -- Update -- On conference call, management retains forward guidance for Q2 at $155 to $160 million
and EPS of 12 cents. Analysts expected reduced guidance from the company. PSFT +3.03 |
