Expectations have been building for Cisco Systems’s fiscal Q4 report, which comes tomorrow, after the bell. Deutsche Bank last week forecast a “beat and raise” report, while Pacific Crest discussed prospects Cisco’s enterprise customer base is going to rebound for the company.
A week and a half after Chinese search engine Baidu beat Q2 sales and profit estimates, and forecast above consensus, UBS Securities analyst Wenlin Li today raised the stock’s rating to “Neutral” from “Sell” and more than doubled its price target on the stock to $380 from $150.
It was a strange quarter for solar panel maker First Solar last night. The company reiterated its forecast for 2009 revenue, which was probably expected, but it also beat Q2 revenue, leaving some disappointed with the lack of upside for the rest of the year.
Shares of solar panel technology maker First Solar (FSLR) are reversing course this evening, falling to $170 after briefly going as high as $189 following a clean Q2 beat. What’s spooked people are the company’s remarks on a conference call this evening about growing uncertainty in its German market.
Computer security software maker Symantec this evening reported fiscal Q1 sales and earnings that missed estimates and forecast Q2 revenue and profit below estimates.
There goes the rally in contract chip makers. Shanghai, China’s Semiconductor Manufacturing International and Taiwan’s United Microelectronics both this morning beat profit and sales estimates for their most recent quarters and forecast above consensus, but both saw shares punished nevertheless.
All ears will be on what Motorola has to say about phones using Google’s Android operating system when the company reports Q2 earnings this Thursday, writes Broadpoint/Amtech analyst Mark McKechnie in a note to clients today. McKechnie has a “Neutral” rating on the stock and believes the business excluding handsets–meaning embedded and networking products–is worth about $5 per share, with the rest of the value being an “option” on success with Google down the road.
Shares of Enernoc, which helps utilities intelligently manage electricity use to conserve energy, are on the march this evening after the company announced Q2 results that beat estimates and forecast Q3 above estimates.
Shares of RadioShack are down $1.12, or seven percent, at $14.94 this morning after the company announced Q2 profit well ahead of estimates, at 39 cents per share versus the consensus 28 cents, but sales that were slightly short of expectations.
Shares of chip maker Broadcom fell in after-hours trading last night and are down again today despite the fact that the company yesterday exceeded Street expectations for its Q2 and forecast above estimates for the current quarter.
It’s a terrible day to be some big tech company, folks. Following disappointing quarterly reports by Microsoft and Amazon.com that sent their shares down eight percent this evening, Juniper Networks, a $14 billion (market cap) competitor to Cisco Systems this evening reported sales and profit for its Q2 that beat estimates, and a better-than-expected forecast, but it wasn’t enough for the stock.
Shares of Internet infrastructure software vendor Omniture are taking a beating this evening after the company reported Q2 sales that trailed estimates and a lower-than-expected Q3 forecast.
Intel shares this afternoon are getting a lift from an upgrade by JMP Securities analyst Alex Gauna from “Market Perform” to “Market Outperform,” with a $24 price target.
Following on a much-stronger-than-expected Q2 report last week, Intel, Gauna says, should continue to gain from better-than-expected results of its customers’ sales of notebook computers and server computers.
Strength in the NAND flash memory chip market, and from Apple’s iPhone in particular, should help SanDisk beat expectations when it reports Q2 earnings when it reports tomorrow, according to a note today from Stifel Nicolaus analyst Patrick Ho.
Shares of database vendor Sybase, which competes with Oracle, are up $1.46, or almost 5 percent, today at $33.85, after the company reported sales fell 2 percent from the year-earlier period but still beat analysts’ estimates. Profit was also higher than expected.
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