Marvell (MRVL) this afternoon told investors on a post-earnings conference call that it expects to report revenue for its fiscal fourth quarter ending in January of $690 million to $730 million, short of the Street consensus of $736.7 million. That is down 14%-18% versus a year earlier, and off 8%-13% sequentially. The company expects non-GAAP profits for the quarter of 14-20 cents a share. The...
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Stocks in the U.S. finished on the upside Tuesday, as General Electric narrowed its earnings forecast and the Big Three automakers returned to Capitol Hill hoping to secure a bailout.
Options traders have descended on the smart phone sector Tuesday, with heavy activity in Research in Motion, Nokia and Palm, following poor earnings by the latter, and news of an introduction of Nokia’s entrée into this market. Research in Motion’s options were the most actively traded. The stock was getting hit, down 7.5% after Palm reported less-than-stellar results for its most r...
Yahoo: Cowen Has Serious Doubts On Miller-Led Bid; Raising $30 Billion Would be “Extremely Difficult”
Tue, Dec 2, 3:12 PM ET
Cowen’s Jim Friedland this afternoon has weighed in on the WSJ report that former AOL exec Jonathan Miller is trying to raise cash for a bid for Yahoo, and finds the proposition to be something of a long shot. In a brief research note, he raises two key issues: Capital: He says it would be “extremely difficult” to raise the $28 billion to $31 billion that would be needed to cl...
Wall Street continues to trade with gains as traders weigh GE's tempered earnings guidance and as the Big Three automakers return to Congress.
Filed under: Major movement, Earnings reports, Good news, Industry, Sears Holdings (SHLD), Options, Technical AnalysisSears Holdings (NASDAQ: SHLD - option chain) shares have jumped higher today even after the company announced a Q3 loss that included slowing sales and falling margins. Earnings and revenues fell, but an extension of the company' s buyback plan is boosting the shares today, alon...
Filed under: General Electric (GE)Remember how admired General Electric (NYSE: GE) used to be? After its stock has tumbled 71% from its all-time high in 2000 of $58.13, I don't think people admire it much anymore. You may have missed that GE got $139 billion in loan guarantees from the FDIC a few weeks ago but nobody blinked an eyelash. Meanwhile today, GE is reporting more disappointing earnin...
Multinational corporations, for several quarters, saw their earnings grow as a result of the weakness of the U.S. dollar. Since the dollar reversed course and began to strengthen in the mid-summer, this advantage has eroded. After reporting third-quarter earnings, the guidance issued by many multinational companies was based on certain assumptions of the dollar’s strength. Some of those c...
Filed under: Analyst upgrades and downgrades, DaimlerChrysler (DAI), Medicis Pharmaceutical (MRX), Palm Inc (PALM), Intuit Inc (INTU), Analyst initiations, EMC Corp (EMC), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RTP)Analyst upgrades: Citigroup upgraded shares of Cadbury (NYSE: CBY) to Hold from Sell on the company's pricing initiatives and their expectations for margin expansion. Jefferi...
Stocks on Wall Street were up solidly after the previous session's steep decline and as traders weighed GE's lowered earnings and the Big Three automakers' return to Congress.