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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (43915)	10/12/1999 8:23:00 PM
From: Lazarus_Long	Read Replies (2) \| Respond to of 94695

WOOPS! LOOK OUT BELOW! While Intel really didn't do that badly, this market rarely forgives missed estimates. Tomorrow could be exciting for the techs. wired.com Intel 'Solid' for the Quarter 3:30 p.m. 12.Oct.99.PDT Intel, the world's largest maker of semiconductors, Tuesday reported third quarter earnings that were slightly below estimates, saying that the company's core microprocessor business was "solid." Excluding acquisition costs, Intel reported net income of US$1.9 billion, or 55 cents a share, up 21 percent from the third quarter a year ago. According to First Call, the consensus among analysts was 57 cents a share. Including acquisition costs, Intel reported net income of $1.45 billion, down 6 percent from the third quarter of 1998 net income of $1.55 billion. Diluted earnings, including merger costs, were 42 cents per share, down from 44 cents a year ago. Revenues jumped 9 percent to $7.3 billion in the quarter, up from $6.7 billion in the third quarter a year ago. Third quarter revenues include post-acquisition revenue of companies acquired in the third quarter. Third quarter revenues were also up 9 percent from the prior second quarter. Intel said that shipments of microprocessors, chipsets, and flash memory chips all grew substantially to new records during the quarter. Craig Barrett, Intel's chief executive, described Intel's core microprocessor business as "solid." The chip giant also said that it looks forward to "seasonally strong" business in the fourth quarter, with revenues in the fourth quarter up from third quarter revenues of $7.3 billion. END OF ARTICLE *Maybe this will counter-balance that:* nytimes.com Motorola Earnings, Sales Up Sharply A.P. INDEXES: TOP STORIES \| NEWS \| SPORTS \| BUSINESS \| TECHNOLOGY \| ENTERTAINMENT Filed at 7:47 p.m. EDT By The Associated Press CHICAGO (AP) -- Motorola Inc. turned in a strong third-quarter performance, reporting a 7 percent increase in sales Tuesday that reflects heavy demand for its cellular phones worldwide and the successful retooling of its semiconductor business. For the three months ended Oct. 2, the company's operating earnings were $332 million, or 53 cents per share, compared with $40 million, or 7 cents a share, for the same period a year ago. That matched the 53 cents anticipated by securities analysts in the most recent survey by First Call/Thomson Financial. It also reconfirmed that the Schaumburg, Ill.-based communications and equipment maker is rebounding impressively from a rough stretch in which it lost its position last year as the world's No. 1 maker of cellular phones to Nokia, underwent a billion-dollar restructuring and laid off 24,000 people in late 1998 and early 1999. Motorola shares closed down $1.68 3/4 at $94.93 3/4 on the New York Stock Exchange Tuesday before the earnings report was released. The company's stock had climbed 4 percent on Monday in anticipation of a strong report. The company's stock is up more than 50 percent in 1999. Motorola said third-quarter sales were $7.7 billion, up 7 percent from $7.2 billion for the same period a year ago. Comparing results without the businesses Motorola sold since last year, the company noted that sales in ongoing operations were up 12 percent to $7.6 billion compared with $6.7 billion a year ago. ''These strong improvements in our financial operating performance are a result of significant sales growth in digital wireless phones and a focused repositioning and restructuring of our semiconductor and digital communications businesses over the last year,'' said Robert L. Growney, president and chief operating officer. Like its competitors, Motorola continues to be weighed down by declining sales for paging products. The company said orders also declined in all regions, especially Asia. Motorola recorded special charges for the quarter of $344 million, largely to prop up its disastrous 18 percent investment in Iridium, the ambitious satellite-based mobile phone network that filed for bankruptcy in August. Net income including the special items was $91 million, or 14 cents a share, up from $27 million and 4 cents per share a year earlier. Still pending is the recently announced merger with General Instrument, which dominates the market for cable TV set-top boxes. Pushing into the fast-growing cable television field, Motorola is expected to make General Instrument part of a new business unit once the merger is approved, probably in the first quarter of 2000. ''The comprehensive changes we have made across the company over the last 18 months are improving our ability to execute and perform financially,'' said Christopher B. Galvin, chairman and chief executive officer. ''Most importantly, they are enabling us to concentrate on the fastest-growing segments of the communications and embedded electronic solutions arenas,'' he said.