The inability of the current investment banking model to withstand the ongoing liquidity crisis has forced many investment bankers out of business or those few that have survived to get by on reduced or no bonuses this year. However, as lenders globally continue to write off and provision for a significant volume of soured loans, UK’s Rothschild group, one of the world’s leading inv...
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Filed under: Earnings reports, Trina Solar ADS (TSL), Suntech Power Hldgs ADS (STP)Increasing demand for solar energy and solar products proved to be a boon for Trina Solar Ltd. (NYSE: TSL) and LDK Solar Co. Ltd. (NYSE: LDK) as both companies reported Wednesday that their earnings soared in the third quarter. Investors were not impressed, however, pushing shares lower. Trina Solar, a maker of s...
Verifone (PAY) said its results for the fiscal fourth quarter ended October 31 were below its previous guidance. For the quarter, the electronic payments company now sees revenue of $244 million to $246 million, down from its previous guidance of $260 million to $268 million. The company now sees non-GAAP profits of 18-20 cents a share, down from 33-38 cents previously. CFO Robert Dykes said in...
Intuit Inc. edged higher late Wednesday even though the tax-preparation software maker posted a wider net loss and cut its financial outlook for 2009, while Ambac Financial Group Inc. shares surged after the bond insurer reached a deal that will end its exposure to $3.5 billion in shaky mortgage-backed debt.
Trina Solar (TSL) this morning posted Q3 revenue of $290.7 million, ahead of the Street consensus of $276.9 million. The company posted profits of $1.17 a share, below the Street at $1.21. Trina said results reflect a loss of 17 cents a share on foreign exchange. For Q4, the company sees revenue of $190 million to $210 million, well below the Street consensus of $274.6 million. The company sees...
Mentor Graphics (MENT) this morning posted results for its fiscal third quarter ended October 31 that were in line with its recently revised guidance. The company posted revenue of $184.9 million and a non-GAAP loss of 4 cents a share; the guidance had been for $185 million and a loss of 5 cents. Mentor also repeated its guidance for both the January quarter and the April quarter. For the FY Q4...
For Motorola (MOT), the darkest days may still lie ahead. Tero Kuittinen, an analyst with Global Crown Capital, this morning repeated his Underweight rating on Motorola, and cut his price target on the shares to $2.50, from $3.50. He thinks the company will miss its Q4 guidance, and fall short of the 2009 consensus “by a wide margin.” In short, Kuittinen contends that “Motorol...
Filed under: Earnings reports, Analyst upgrades and downgrades, China, Options, Suntech Power Hldgs ADS (STP)China-based Suntech Power Holdings (NYSE: STP) is slated to report its third-quarter earnings results ahead of the opening bell tomorrow, and the solar stock looks particularly vulnerable to a post-report drubbing. Sector peer JA Solar (NASDAQ: JASO) fell to an all-time low last week aft...
LDK Solar (LDK) shares are down sharply amid a generally bearish environment for solar stocks, despite better-than-expected Q3 results and a 2009 outlook than exceeds Street estimates. For Q3, the company posted revenue of $541.8 million and profits of 77 cents a share; the Street had expected $486.7 million and 71 cents. For Q4, the company sees revenue of $555 million to $565 million, above t...
Citigroup’s Jason Brueschke today cut his rating on Baidu (BIDU) to Sell from Buy, slashing his price target to $110, from $300. As I have noted in several recent posts, Baidu over the weekend was the subject of a highly critical report on China Central Television noting that the company has included paid listings for unlicensed medical products providers high in its search results for ce...