Tuesday After Hours price changes vs 4pm ET levels:
For fiscal Q3 (Apr), Cisco (CSCO 14.76 +1.68) reported a pro forma profit of $0.11 per share, $0.02 better than the consensus estimate. Revenues of $4.82 bln were a bit shy of the Multex consensus of $4.85 bln, but CSCO's gross margins of 63.1% were comfortably ahead of its goal of 60%. On its call, CSCO said it sees Q4 (Jul) revenues "sequentially flat or up slightly (low single digits)." The Multex consensus for Q4 is $4.99 bln; related stocks include RBAK, JNPR, ALA, CIEN, FDRY, EXTR, SCMR, and NT... QLogic (QLGC 41.85 +3.59) reported a Q4 pro forma profit of $0.22 per share, $0.02 better than the Multex consensus, on revenues of $92.3 mln (consensus $87.8 mln). On its call, QLGC said it expects overall revenues for fiscal Q1 (Jun) to be up 3-8% on a sequential basis. The current Multex consensus of $92.26 mln implies essentially flat revenue growth. Given its revenue expectations, QLGC believes it should achieve a fiscal Q1 pro forma profit of $0.20-0.24 per share (consensus $0.21); related stocks include SUNW, EMLX, ADPT, JNIC, A, LSI and VTSS... TMP Worldwide (TMPW 23.40 +0.09) reported an in line Q1 profit $0.14 per share, but lowered expectations for Q2, saying it sees EPS of $0.14 and top-line of $294 mln. The current Multex consensus estimates for the period are $0.22 and $312.49 mln, respectively. TMPW also lowered expectations for FY02 and FY03, and added that it does not expect a robust economic environment in 2003... Finally, Activision (ATVI 32.10 +1.45) is gaining ground after easily surpassing top- and bottom-line estimates for fiscal Q4 (Mar) and raising its FY03 EPS guidance by eight cents to $1.02 from $0.94 (Multex consensus is $0.95); related stocks include ERTS, THQI, TTWO, and MWY... For more detail on these, and other developments, be sure to visit Briefing.com's In Play, Earnings Calendar, and Guidance pages. Presently, the S&P futures, at 1055, are 5 points above fair value while the Nasdaq 100 futures, at 1181, are 19 points above fair value.-- Patrick J. O'Hare, Briefing.com |
