From Briefing.com: 5:49PM Qualcomm (QCOM) 25.65 -3.45: -- Update -- On call, company affirms its CDMA overall industry guidance for 2002. Management says analysts are below QCOM's forecast, but QCOM expects replacement sales to be stronger than analysts expect... Also, company says it is optimistic about growth in the US. Replacement market is strong... stock climbing to 27.30.
5:45PM Electronic Arts raises FY03 guidance (ERTS) 55.72 -1.46: -- Update -- On call, says its FY03 guidance for EA.com is essentially unchanged from last earnings conference call... for core business, ERTS is increasing its revenue growth expectations for FY03 from low- to mid-20% range to high-20% level and it is bumping up operating income growth expectations from 40-50% to 55-60%... also expects FY03 gross margins in core business to be at least one percentage point higher than FY02 (had previously expected flat to slightly higher... ERTS -0.72 at 55.00
5:40PM Qualcomm (QCOM) 25.65 -3.45: -- Update -- On its conference call, the company says it gained market share in the quarter... Thus far, Q4 (Sep) orders have been strong for MSM chipsets... stock at 27.08.
5:14PM Kopin beats by two cents (KOPN) 5.40 -0.75: Reports Q2 (Jun) loss of $0.02 per share, $0.02 better than the Multex consensus of ($0.04); revenues rose 125.5% year/year to $20.8 mln vs the $19.3 mln consensus.
4:56PM QCOM trades up 4% in after hours :
4:55PM Qualcomm beats by $0.02; guides Q4 above consensus (QCOM) 25.62 -3.48: Posts Q3 net of $0.24 a share, $0.02 better than the Multex consensus. Revs rose 10% to $721 mln (consensus $697.29 mln). For Q4, co sees EPS of $0.26-$0.27 on a 10-13% sequential rev increase (consensus $0.24/$737.51 mln).
4:53PM Intl Rectifier reports in line Q4 (IRF) 22.33 -3.66: Reports Q4 pro forma EPS of $0.25, in line with the Multex consensus; sales were $201.0 mln, vs consensus of $196.2 mln.
4:52PM Western Digital beats by three cents (WDC) 3.09 +0.04: Reports Q4 (Jun) earnings of $0.08 per share, $0.03 better than the Multex consensus of $0.05; revenues rose 18.6% year/year to $540.7 mln vs the $554.6 mln consensus.
4:39PM Genesis Microchip matches estimates (GNSS) 6.14 -0.94: Company reports Q1 pro forma net income of $1.7 million, or $0.05 per diluted share, in line with the Multex consensus; reports Q1 revenues for the quarter of $41.6 million vs the consensus estimate of $41.6 million; expects Q2 revenue will be in the range of $42 to $43 million vs the consensus estimate of $40.1 million.
4:29PM Microsemi matches estimates (MSCC) 5.28 -0.51: Reports Q3 (Jun) earnings of $0.04 per share, in line with the Multex consensus of $0.04; net sales for the quarter ended June 30, 2002 were $51.5 million, compared with the consensus of $51.2 million; book-to-bill ratio for the third quarter was 0.97; sees Q4 earnings ranging from $0.04 to $0.06 per share vs the consensus estimate of $0.05 per share.
4:17PM Electronic Arts beats by 14 cents (ERTS) 55.72 -1.46: -- Update -- Reports Q1 pro forma EPS of $0.06, $0.14 better than the Multex consensus; total sales were $331.9 mln, vs consensus of $275.6 mln.
4:13PM JDS Uniphase reports Q4 results; CFO to retire (JDSU) 2.53 -0.48: Reports Q4 (Jun) pro forma loss of $0.03 per share, revenues fell 63.1% year/year to $222.0 mln vs the $209.3 mln consensus; also announces that Anthony R. Muller, Executive Vice President and Chief Financial Officer, has advised the Company of his plans to retire by the end of the first calendar quarter of 2003 -- anticipates net sales for the first quarter of fiscal 2003 will be $200 to $210 million "as the downturn in the company's markets continues" -- consensus estimate is $210 million.
4:11PM Adaptec reports in line Q1 (ADPT) 6.51 -0.14: Reports Q1 pro forma EPS of $0.08, in line with the Multex consensus; sales were $107.8 mln, vs consensus of $108.4 mln.
6:44PM Thursday After Hours price changes vs 4pm ET levels: After dropping close to 12% in the regular session, Qualcomm (QCOM 27.46 +1.81) is on the rebound in extended action after reporting better than expected fiscal Q3 earnings and guiding higher for fiscal Q4. On its conference call, QCOM affirmed its overall CDMA industry guidance for 2002 and noted it expects replacement sales to be stronger than analysts are forecasting... Entertainment software company, Electronic Arts (ERTS 55.00 -0.72), reported a fiscal Q1 pro forma profit of $0.06, which was $0.14 ahead of the Multex consensus estimate, on revenues of $331.9 mln (consensus $275.6 mln). On its call, ERTS said its FY03 guidance for EA.com was essentially unchanged from its last conference call, however, it raised its FY03 revenue and operating income growth expectations for its core business...
6:14PM Qualcomm (QCOM) 25.65 -3.45: Just when all seemed lost in the telecom space, Qualcomm reported a good quarter as it is recouping some of the 12% sell off in the stock during the regular session today. The stock has bounced to 27.08 after the bell. The company beat EPS consensus by $0.02 and revenue came in at $721 mln vs consensus of $697.29 mln. For Q4 (Sep), the company guides EPS higher to $0.26-$0.27 vs consensus of $0.24... The stock was weak for a couple of reasons today. First, there was concern QCOM would experience delays in W-CDMA rollouts because Telefonica delayed this morning. However, on the company's conference call, it affirmed CDMA subscriber guidance and spoke of good growth in the US market. Also, weighing on the shares was the reduction in cap-ex plans by Taiwan Semi (TSM 9.08 -2.06). Granted, QCOM upped guidance after the bell, but this remains a concern. Despite the stock trading at less than half its 52-week high, Qualcomm continues to be seen as the safest way to play wireless, helped a lot by its positive earnings/cash flow and it $2.6 bln cash/inv war chest. However, the valuation is still a bit pricey as it trades at a current year p/e approaching 30x... Bottom line, it was a fairly uneventful earnings report as most had expected the company to meet or beat consensus. Fewer analysts had expected the company to guide higher, which explains the after hours movement. -- Robert J. Reid, Briefing.com
11:36AM Agere Systems (AGR.A) 1.83 -0.07: Last night, company beat Q3 consensus by a penny but guides Q4 revs lower. Before open, CE Unterberg Towbin initiated with short-term Market Perform/long-term Buy rating and price target of $5.80. Near-term caution reflects the effects of carriers' cap-ex reductions on next-generation network deployment and softness in PC related businesses. Long-term Buy reflects belief that co. will emerge from downturn among strongest vendors of communication components; noting shares have declined 50% on significant price pressure since April 22, when spin-off from Lucent was announced. Also, Soundview Technology reiterated Outperform, saying remains undervalued to peers and positioning in industry.
finance.yahoo.com^SOXX+^IXIC+^VIX&d=t
RtS |
