Earning reports for july 22 from A to z
Sun Microsystems (SUNW 67 3/16 -3 1/2) After the close, company
reported Q4 net of $0.48 a share, two cents above the First Call mean...
Typically SUNW meets or beats by only one cent, so this quarter's number
should be viewed as a pleasant surprise... Company earned $0.37 in the
year-ago period... Revenues jumped 22%.
Compaq Computer (CPQ 24 15/16 -1 1/16) named Michael D. Capellas
as new President and CEO... Capellas had been CPQ's Chief Operating
Officer since June 2... Not the big name hire the street was hoping for... As
such, we wouldn't be surprised if stock slumped on the news.
Gateway (GTW 63 -2 3/4) reported a Q2 gain of $0.56, besting the
consensus estimate by one cent and year ago profit by eighteen cents...
Revenues rose by 18%... Good number especially considering season... But I
doubt it will be good enough to buck bearish trend in techs... Key support
in the 60-57 area.
Sun Microsystems (SUNW) 67 3/16 -3 1/2: manufacturer of enterprise network computing products reports Q4 net of
$0.48 a share, two cents above the First Call mean, vs yr-ago EPS of $0.37; revenues rose 22% to $3.515 bln.....
Amazon.com Inc (AMZN)
Bear Stearns cut AMAZON.COM INC to attractive from buy. Further information was not immediately
available. Late yesterday, Amazon.com said revenues nearly tripled in the 2Q but losses deepened as
expected due to heavy spending on new businesses. Nevertheless the company said it would split its
high-flying stock for the second time this year. For the 2Q Amazon.com reported a pro forma net loss per
share of $0.51 per share, meeting Wall Street expectations. Amazon.com had disclosed in April that it
expected losses to accelerate as it stepped up its pace of investments and acquisitions, and CEO Jeff Bezos
said the company would continue to invest more heavily than it had in the past for the rest of this year and
into 2000. (Reuters)
America Online Inc (AOL)
AMERICA ONLINE INC reported that its fiscal 4Q profits grew 170% to $156 mln, edging ahead of Wall
Street's expectations, which were tempered by the seasonal softness in online service usage during the
spring and summer. Fully taxed operating income for the 4Q ended June 30 of $156 mln, excluding charges
to cover the costs of several acquisitions during the quarter, translated into earnings per share of $0.13.
That compares with $58 mln, or $0.05, earned in the year-ago quarter. (Reuters 09:37 PM ET 07/21/99) For
the full text story, see full story
America Online Inc (AOL)
Morgan Stanley Dean Witter analyst Mary Meeker raised her share earnings estimate for AMERICA ONLINE
INC. In a report, she boosted her estimate for fiscal year 2000 earnings to $0.60 a share from $0.56 and to
$0.90 from $0.80 for fiscal year 2001. (Reuters 11:23 AM ET 07/22/99) For the full text story, see full story
Compaq Computer (CPQ)
Andrew Salzman, vice-president for worldwide advertising and brand strategy at COMPAQ COMPUTER, has
resigned his job, a daily French advertising industry newsletter said on Thursday. A spokeswoman at
Compaq France was unable to confirm the report. No one was immediately available to comment at
Compaq Europe, Middle East and Africa's Munich headquarters. Compaq, the world's biggest PC maker
whose chief executive and finance director resigned in April, last month warned of second quarter losses
and put in place a restructuring plan. (Reuters 07:25 AM ET 07/22/99) For the full text story, see full story
Compaq Computer (CPQ)
COMPAQ COMPUTER named Michael Capellas as president and CEO, ending months of speculation about
who would lead the world's largest personal computer maker. Capellas joined Compaq in August 1998 as
chief information officer and has been chief operating officer since June 2. In April, Compaq's then
President and Chief Executive Eckhard Pfeiffer and Chief Financial Officer Earl Mason left the company
amid financial turmoil. Capellas previously worked at software companies Oracle Corp. and SAP AG's SAP
America, and before that for 15 years at oilfield services giant Schlumberger Ltd. (Reuters 04:38 PM ET
07/22/99) For the full text story, see full story ***Also: Compaq's Rosen says Capellas has new strategy, see
full story
Microsoft Corp (MSFT)
MICROSOFT CORP late Wednesday said it expected to provide Internet services via mobile telephones from
the second half of next year and that the fresh revenue would complement its existing sales. "We don't see
this as a substitute. It's more of a complement," Kevin Dallas, group product manager of Microsoft's
productivity applications division, told Reuters in a telephone interview. Microsoft, the world's largest
software maker, warned on Monday that profit and revenue growth would slow in the year ahead because
of slowing demand for personal computers and concerns about the Y2K computer bug, among other factors.
(Reuters 04:19 PM ET 07/21/99) For the full text story, see full story
Microsoft Corp (MSFT)
Jumping into what is fast becoming one of the most crowded markets in Japan, trading house Itochu Corp
said it would team up with MICROSOFT CORP and others to launch stock broking services over the Internet.
This follows an announcement on Wednesday that another trading house, Mitsubishi Corp, would jointly set
up a Japanese on-line investment bank with Wit Capital Group Inc of the United States and Trans Cosmos
Inc in July. (Reuters 02:18 AM ET 07/22/99) For the full text story, see full story
Microsoft Corp (MSFT)
MICROSOFT CORP and ELECTRONIC DATA SYSTEMS CORP launched an alliance Wednesday aimed at
offering more comprehensive computer network services to businesses and organizations, the two industry
giants said. Microsoft and EDS will collaborate in developing software and services for computer networks
as well as in providing support for their customers, they said in a statement. "Under the agreement,
Microsoft will provide EDS with early access to Microsoft enterprise solution platform software, enabling
EDS to more rapidly develop integrated enterprise offerings for its customers," the companies said. (Reuters
05:59 PM ET 07/21/99) For the full text story, see full story
Microsoft Corp (MSFT)
MICROSOFT CORP's Indian unit announced a partnership with a software services subsidiary of Fujitsu Ltd
to develop electronic commerce solutions using Microsoft platforms. The partner, International Computers
India Ltd (ICIL), will design products that enable companies to do business on the Internet, Microsoft
officials said. ICIL's President and Chief Executive Officer L.C. Singh told a news conference that a product
enabling retailers to sell merchandise was likely to be among the first offerings by the partnership. (Reuters
05:20 AM ET 07/22/99) For the full text story, see full story
Microsoft Corp (MSFT)
Jumping into what is fast becoming one of the most crowded markets in Japan, trading house Itochu Corp
said on Thursday it would team up with MICROSOFT CORP and others to launch stock broking services over
the Internet. This follows an announcement on Wednesday that another trading house, Mitsubishi Corp,
would jointly set up a Japanese on-line investment bank with Wit Capital Group Inc of the United States
and Trans Cosmos Inc in July. As more than 20 start-up companies jostle for a piece of the potentially
lucrative action, analysts see cutthroat competition in the coming years for the startup brokerages. (Reuters
02:18 AM ET 07/22/99) For the full text story, see full story
Quantum Corp (QNTM)
QUANTUM CORP reported 1Q EPS of $0.05 vs. $0.02 in the prior year period, on revenues of $1.08 bln. vs.
$1.10 bln. in 1998. Analysts' mean estimates were $0.10, according to First Call. (Dow Jones)
Sun Microsystems Inc (SUNW)
SUN MICROSYSTEMS' Polish unit increased sales in Poland by 80% to more than $30 million in the financial
year ending June 30, the unit's head, Andrzej Jaskulski said on Thursday. "It is a very good result for a
company selling hardware. It stems to a large degree from the migration of customers towards larger and
more powerful machines," Jaskulski told a news briefing. He added Sun saw the biggest growth potential in
telecoms, financial and manufacturing sectors. (Reuters 04:34 PM ET 07/22/99)
Sun Microsystems Inc (SUNW)
After market close, SUN MICROSYSTEMS INC reported 4Q pro forma EPS of $0.48 vs $0.37 in the prior year
period, on revenues of $3.51 bln vs $2.88 bln. Analysts' mean estimates were $0.46, according to First Call.
FY EPS were $1.27. NOTE: The above pro forma amounts have been adjusted to eliminate
acquisition-related charges of $14.1 million, $120.7 million, and $176.4 million for in-process R&D and the
related income tax effects for the three months ended June 30, 1998, and the twelve months ended June
30, 1999 and 1998, respectively. (Reuters 05:24 PM ET 07/22/99) For the full text story, see full story
Dow Jones 30 Industrials (DJIA)
MARKET NEWS: Wall Street suffered another day of stock market losses Thursday, this time caused by a
cautionary speech from Federal Reserve Chairman Alan Greenspan, who warned investors the Fed is ready
to raise interest rates any time it feels inflation is a threat. The Dow Jones industrial average backtracked
33.56 points to 10,969.22. On the New York Stock Exchange, trading volume reached 777 million shares,
with losers far ahead of gainers by 1,816 to 1,070. The Nasdaq composite index plunged 77.33 points to
2,684.44, and the S&P 500 fell 18.32 to 1,360.97. The bond market also tumbled on the Fed chief's stern
tone. The bellwether 30-year Treasury bond fell 26/32 of a point in price, for a yield of 5.96%. (CNNfn) |
