>Not looking very good for tomorrow<
No not at all but the latest after hours on MSFT is showing a little better quote at 53.67.
Even XLNX which beat handily and raised guidance is down after hours now.
More from Briefing.com:
4:51PM Microsoft earnings confusion...again (MSFT) 56.37 -0.26: -- Update -- As seems to be the case every qtr with MSFT, there is confusion about whether gains/charges were included in estimates; Multex is telling us that the gain and the charge were not in the estimates, and that $0.48 is the number which is comparable to the $0.51 consensus. In the past, MSFT guidance (which was $0.50-0.51) has typically included all items, which would make $0.49 the comparable number. But we can see no support for a theory just put forth on CNBC that some analysts had included the gain but excluded the charge, and that the comparable number is therefore $0.63 - a huge upside surprise; this is almost certainly not correct. It's a miss of either 2 or 3 cents. MSFT down 3.80 after hours.
4:50PM Atmel Corp misses due to weak turns biz (ATML) 9.85 -0.65: -- Update -- Reports a Q1 loss of $0.09 a share, $0.03 worse than consensus, vs a yr-ago profit of $0.12. Rev was $275.77 mln (consensus $286 mln). Blames revenue shortfall on mix of turns business. ATML believes co has reached the bottom of the cycle, as it ended the qtr with positive sales momentum. "Our book-to-bill ratio exceeded 1.1 to 1, and lead times in certain products have lengthened. We increased our manufacturing activity accordingly towards the end of the quarter."
4:50PM Sun Microsystems still expects profitability in June (SUNW) 8.52 +0.29: -- Update -- On call, says it is still planning to report a profit in the June qtr (consensus +$0.01)... separately, says it expects revenues in the June qtr to be up slightly on a sequential basis (Multex consensus $3572.45 bln), operating expenses to be just above those in the March qtr, and a very modest improvement in overall margins over the near-term... indicates that it will reduce headcount by approx. 1,000 positions over the next 6-9 months... SUNW -0.24 at 8.28
4:49PM Transmeta reports in line results (TMTA) 3.29 +0.28: Reports Q1 pro forma loss of $0.17 and $4.1 mln in revs, both in line with the Multex consensus.
4:39PM Emulex beats on top and bottom-lines (EMLX) 29.91 +1.01: -- Update -- Posts Q3 net of $0.16 a share, $0.03 better than consensus, vs yr-ago EPS of $0.13. Revenues rose 15% to $69.6 mln (consensus $65.78 mln). "As a result of generally improved demand, which is exceeding prior estimates, Emulex reversed $2.2 million of its September 2001 excess and obsolete inventory charge associated with 1 Gbps products." Pro forma results exclude this gain.
4:38PM McDATA beats estimates, guides down (MCDT) 8.86 +0.48: -- Update -- Reports Q1 pro forma loss of $0.04, $0.02 better than the Multex consensus; revs were $64.5 mln, vs consensus of $62.5 mln. Expects Q2 pro forma loss of $0.06-$0.08 and revs "roughly comparable" to Q1 (consensus is for a loss of $0.04 and $64.1 mln in revs).
4:34PM Microsoft (MSFT) 56.37 -0.26: -- Correction -- The 16:18 ET comment originally reported MSFT Mar qtr revenues of $6.4 bln - that was the year-ago figure; the correct figure is $7.25 bln, which was only slightly below the $7.35 bln Multex consensus.
4:30PM Xilinx beats by three cents (XLNX) 42.94 -0.90: Reports Q4 (Mar) earnings of $0.12 per share, $0.03 better than the Multex consensus of $0.09; Xilinx revenues increased 20% sequentially to $273.5 mln vs theconsensus estimate of $251.6 mln; guides higher for Q1; revenues expected to be up 6-8% sequentially vs the current consensus estimate of $264.9 mln.
4:22PM Sanmina-SCI tops estimates (SANM) 11.14 -0.21: Reports Q2 pro forma EPS of $0.01, $0.01 better than the Multex consensus; pro forma revs were $2.41 bln, vs consensus of $2.29 bln. Expects Q3 EPS of $0.02-$0.04 and $2.4-$2.7 bln in revs (consensus is $0.03 and $2.67 bln).
4:20PM Microsoft guides FY03 numbers significantly lower (MSFT) 56.37 -0.26: -- Update -- Company offers its first look at FY03 (Jun) and it too is below current estimates: EPS of $1.89-1.92 vs $2.05 Multex consensus and revenues of $31.5-32.4 bln vs $32.7 bln consensus.
4:18PM Microsoft light on revenues (MSFT) 56.37 -0.26: -- Update -- On revenues, company reported $7.25 bln, below the $7.35 bln Multex consensus. On Q2 revenues, guided down to $7.0-7.1 bln vs $7.7 bln consensus. Stock trading off almost 2 pts after hours.
4:16PM Microsoft guides Q2 lower (MSFT) 56.37 -0.26: -- Update -- Reports Q3 (Mar) EPS of $0.49, which includes a $0.15 gain for the EXPE sale and $0.14 impairment charge; unclear which number is comparable earnings but appears to be a slight miss. Company also guides Jun qtr lower to $0.41-0.42 from $0.44 consensus.
4:13PM TriQuint Semi matches estimates; reaffirms Q2 (TQNT) 12.20 -0.69: -- Update -- Reports a Q1 (Mar) loss of $0.02, in line with the Multex consensus; revenues were $62.4 mln vs the consensus of $62.2 mln. Guidance for Q2 is roughly in line: breakeven to loss of $0.02 and $60-63 mln revenues vs consensus estimates of a loss of $0.01 and $63.6 mln.
4:12PM PMC-Sierra beats by $0.03; rev slightly below consensus (PMCS) 18.02 +0.03: -- Update -- Reports a Q1 loss of $0.09 a share, $0.03 better than consensus, vs a yr-ago profit of $0.02. Revenue fell 57% to $51.44 mln, below consensus $52.05 mln.
11:39AM Broker comments on KLA-Tencor, Applied Materials : Goldman Sachs is defending KLAC (-5.5%), saying that the co should be able to reach 20% order growth in Q2, possibly up to 30%; on the other hand, JP Morgan says that KLAC's valuation is rich and sees no near-term upside for the stock. Regarding AMAT (-3.6%), Salomon Smith Barney recommends buying the shares on weakness, saying that the co's earnings in mid-May should be similar to NVLS's and LRCX's better than expected results.
11:24AM Sector Watch: Semiconductor : Three strikes for the group today with the decline led by AMD (-13.3%, guidance/downgrade), KLAC (-6.3%, guidance) and TER (-5.9%, downgrade). Other top losers include: AMAT -4.8%, LSCC -4% and MOT -3.1%. The Semi HOLDRs (45.92) has stabilized near the low in recent trade but without a rebound through intraday resistances at 46.2 and 46.48 it is expected to remain vulnerable to new pullback lows. Next support of interest is at 45.45
10:56AM KLA-Tencor expects "at least 10%" order growth (KLAC) 64.41 -4.25: -- Update -- We are hearing that in the final minutes of their conference call, mgmt clarified that they were being conservative in their guidance, and expect orders to be up "at least 10%."
10:48AM Alpha Ind, Conexant, RF Micro downgraded at CEUT : CE Unterberg Towbin downgrades AHAA, CNXT, and RFMD to MKT PERFORM from Buy based on NOK's lowered guidance.
10:37AM KLA-Tencor guidance disappoints (KLAC) 64.89 -3.77: -- Update -- Hearing that company guided up Q2 orders only 10% on its conference call vs street whispers of 20-30%, prompting the weakness in the stock in recent action.
10:30AM Nokia, not MOT, downgraded by JPM : -- Update -- --Correction-- JP Morgan issues an intraday downgrade of Nokia (NOK 18.25 -2.38) to MKT UNDERPERFORM from Mkt Perform. Previously we wrote that the downgrade was of Motorola (MOT 15.60 -0.73).
9:45AM Celestica downgraded at Needham (CLS) 32.42 -0.96: Needham downgrades to HOLD from Buy in a pre-open note, as the stock appears reasonably priced at 30x reduced 2002 est; current end-mkt demand environment is very uncertain, and firm cuts FY02 rev/EPS ests to $9.15 bln/$1.10 from $10.90 bln/$1.40, and introduces 2003 ests of $11.55 bln/$1.45 (both EPS ests are well below consensus of $1.38 and $1.77, respectively).
9:28AM Exar, PMC-Sierra may benefit from Broadcom guidance : Both EXAR and PMCS are seen as benefitting from BRCM's positive QoQ guidance and their comment that they are seeing increased demand in the enterprise networking space.
9:24AM KLA-Tencor beats by two cents (KLAC) 68.66: Reports Q3 (Mar) earnings of $0.17 per share, $0.02 better than the Multex consensus of $0.15; revenues fell 42.2% year/year to $357.1 mln vs the $343.6 mln consensus. Company says book/bill was above 1 for first time in five qtrs; gross margin fell to 49.0% from 50.1% in prior qtr as service revenues were a higher percentage of sales.
12:59PM TranSwitch (TXCC) 2.50 -0.39: Merrill Lynch downgrades to Near-Term NEUTRAL/Long-Term BUY from Near-Term Buy/Long-Term Strong Buy in a pre-open note; believes stock is fairly valued and does not see a near term catalyst; thinks visibility still looks weak and believes company needs 45% turns to make a flat Q2; states profitability is at least 6-8 quarters away. For the long term, firm believes TSCC is well positioned to benefit from growth of telecom infrastructure and expects it to emerge from downturn as strong competitor. However, firm does not expect to see end market strength or profitability in foreseeable future and increases loss per share estimate to $(0.47) from $(0.39) for Y02 and to $(0.41) from $(0.26) for Y03. Stock trading down 13.5%
Close Dow -15.50 at 10205.28, S&P -1.78 at 1124.29, Nasdaq -8.24 at 1802.43: Earnings reports from a multitude of companies, a batch of weaker than expected economic data, cautious-sounding comments from NY Fed President McDonough, and above all, the alarming news that a small plane flew into Milan's tallest skyscraper, were the main points of interest today... By and large, none of them did much to boost investor sentiment, which was already frayed by yesterday's disappointing showing... That's not to say, of course, that there weren't any winning standouts-- there were and IBM (IBM +4.14) was one of them...
After yesterday's close, Big Blue reported Q1 results that were in line with its lowered guidance and assuaged the market with its contention that it expects to meet the lowered FY02 EPS estimate of $4.16... Another standout was McDonald's (MCD +1.46), which topped Q1 consensus estimates and raised its FY02 EPS guidance...
Their positive influence was mitigated, though, by the disappointing FY02 sales guidance from Nokia (NOK -2.53), the disappointing Q2 earnings guidance from Honeywell (HON -2.16), the relatively disappointing Q2 order guidance from KLA-Tencor (KLAC -3.05), and the disappointing Q2 revenue guidance from Advanced Micro Devices (AMD -2.22)... Fittingly, the market's opening gains, led by IBM, were short-lived as underlying concerns about the pace, and strength, of a rebound in corporate profits left investors reluctant to commit to long positions... Those concerns were exacerbated by a weaker than expected Leading Indicators report for March and McDonough's comment that very low business confidence could slow down the recovery in 2H02... Those concerns, however, paled in comparison to the concerns that permeated the market when the news hit the wires around 12 ET that a small plane flew into Milan's tallest skyscraper...
Fearing the worst (i.e. terrorist attack), the market took a precipitous dip as the Dow, the Nasdaq, and the S&P-- little changed just before the incident-- were showing losses of 163, 32, and 17 points, respectively, within minutes of the dissemination of that alarming news... To its credit, the market began a recovery effort in short order as eyewitness accounts, and subsequent reports that the pilot had made a distress call before crashing, proved to be appeasing factors...
The freak accident, though, exposed the underlying skittishness in the market with respect to an event-risk situation... That point notwithstanding, the market recouped the bulk of today's losses in a laborious recovery effort that spanned the afternoon session... Its comeback effort was aided by American Express (AXP +1.24), which finished more than 2 points off its lows of the day after reporting better than expected Q1 earnings... From an industry standpoint, the storage, drug, retail, oil service, and biotech groups helped keep the losses in check... The market's biggest laggards today included the chip, chip equipment, telecom equipment, household products, auto, and transportation issues...DJTA -1.7%, SOX -3.0%, NYSE Adv/Dec 1552/1588, Nasdaq Adv/Dec 1821/1651
finance.yahoo.com^SOXX&d=t |
