Oracle shares today have rallied impressively following last night’s better-than-expected results for its fiscal third quarter ended in February. The analysts who track the stock were generally impressed with the numbers; I would note that is the same crew that had been cutting expectations heading into the quarter. (Though even most of the estimate-cutters continued to recommend the stock.)
In a report combining consumer electronics, semiconductors, and infrastructure software analysis, Pacific Crest Securities equity researchers today write that Microsoft’s forthcoming Windows 7 is “a dramatic improvement over Vista” and that it has “implications for the technology sector” beyond just what it will do for Microsoft.
With SunPower set to report earnings on Thursday after the close, solar analysts have taken a fresh look at the company this morning–and at least three of them did not like what they saw. Analysts at Friedman Billings Ramsey, Thomas Weisel Partners and Pacific Crest all had words of warning this morning for investors in the stock, sharply reducing their forecasts for 2009.
The broad market is getting clobbered this morning in part by the extremely weak Commerce Department report on December retail sales–and investors are demonstrating particular zeal for dumping both Amazon.com and eBay.
Omniture shares are taking it on the chin today after some cautious comments by Chad Bartley, an analyst with Pacific Crest. Not surprisingly, he says the gloomy economy is causing a slowdown in the business analytics sector–existing clients aren’t expected to increase their investments in 2009.
There’s been a downturn in demand for BlackBerry handsets worldwide–looks like inventory and software problems are taking their toll. That, and the fact that sales of the Pearl Flip are both “tepid” and “disappointing.” Here’s hoping the Storm brings a little sunshine.
The Indian IT outsourcing companies are going to see a hit to earnings from the sagging global economy, Pacific Crest’s Kanchana Vydianathan asserted this morning. While still generally bullish on the sector, she cut estimates this morning for Satyam (SAY), Wipro (WIT), Patni (PTI), Infosys (INFY), Tata Consultancy and Cognizant (CTSH).
Pacific Crest’s Weston Twigg trimmed his EPS estimates this morning for a number of semiconductor equipment companies, asserting that a recovery in demand is likely to take longer than previously expected.
U.S. and European handset demand was “lackluster” in August, creating pressure on pricing, Pacific Crest’s James Faucette asserted in a research note this morning.
Faucette says says handset sell-through is up sequentially from July, but below expectations for the beginning of the back-to-school season.
Pacific Crest analyst Andy Hargreaves released a note this morning with a bunch of data points showing the rising importance of Apple’s (AAPL) iPhone in Internet usage. And he implies that the current value of the shares could be closer to $184 than the current $176.15 at which the stock trades.
Akeena Solar (AKNS) is having “quality issues” with some of its Andalay brand solar modules, according to Pacific Crest analyst Mark Bachman.
“Our contacts revealed that some panels are being returned to Akeena, depending on the severity of the defect,” he wrote in a research note this morning.
Activision Blizzard (ATVID) shares are trading lower following the company’s fairly complex June quarter report and 2008 outlook. Complicating the picture is the logistics of the merger of Activision and Blizzard. The company posted stand-alone results for Activision for the quarter, but gave guidance for the combined companies.
Pacific Crest’s Andy Hargreaves this morning raised his price target on Apple (AAPL) to $235 from $225, and upped his EPS estimate for the September 2009 fiscal year to $6.55 from $6.20. The moves reflect his bullish views on the prospects for the iPhone.
Well, imagine that: the economy really does have an impact on the growth of online advertising.
In a research note this morning, Pacific Crest analyst Steve Weinstein reports that Q2 online advertising is likely to grow in “the high teens” versus a year earlier, down from Q1 growth just under 20% and Q4 growth of 23%, “indicating a modest but steady deceleration.”
At the Apple (AAPL) Worldwide Developers Conference coming up next week, CEO Steve Jobs is widely expected to unveil a new 3G version of the iPhone. Meanwhile, in the last few weeks, a number of carriers have announced deals to sell the phone, which will make it available in dozens of countries.
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