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LOS ANGELES (MarketWatch) -- Seagate Technology late Tuesday said its fiscal third-quarter profit jumped 20% as sales climbed 16% on strong demand for products across its segments, with particular strength in notebook and consumer electronics applications. Seagate said its profit for the quarter ended March 31 rose to $274 million, or 53 cents a share, from $229 million, or 45 cents a share, a year ago. Revenue increased to $2.29 billion from $1.97 billion. The results were ahead of analysts' average estimate that called for the maker of hard disks to report a profit of 52 cents a share on revenue of $2.25 billion, according to a Thomson First Call survey.
WASHINGTON (MarketWatch) -- Motorola Inc. on Tuesday posted slightly lower first-quarter profit, but the world's No. 2 maker of wireless phones shipped a record 46.1 million handsets, propelled by the popularity of its Razr models, the top selling line in the world. Motorola said it earned $686 million, or 27 cents a share, compared with net income of $692 million, or 28 cents, in the same quarter a year earlier. Sales leaped 23% to $10.1 billion from $8.16 billion. Motorola said it boosted its global share by 4.8 percentage points to 21% from the year-ago period. Excluding one-time items and the adoption of new accounting rules for stock options, Motorola earned 28 cents a share. On that basis, Motorola was expected to earn 29 cents a share on revenue of $9.56 billion, according to the consensus of analysts surveyed by Thomson First Call. For the second quarter, Motorola predicted it would earn 30 cents to 32 cents a share, excluding onetime items, on revenue of $10.3 billion to $10.5 billion. By comparison, analysts were expecting profit of 31 cents a share on revenue of $10 billion.
SAN FRANCISCO (MarketWatch) -- International Business Machines Corp. on Tuesday reported a first-quarter profit that rose 22% to $1.71 billion, or $1.08 a share, from $1.4 billion, or 84 cents a share a year ago. The company beat the estimates of analysts surveyed by Thomson First Call, who forecast a profit of $1.05 a share. Revenue slipped to $20.7 billion from $22.9 billion a year ago, when IBM's revenue included sales from its now-divested personal-systems business. Without that business, IBM's sales would have been flat from a year ago, excluding the impact of currency exchange rates.
SAN FRANCISCO (MarketWatch) -- Yahoo Inc. reported late Tuesday that first-quarter profit fell to $160 million, or 11 cents a share, from $195 million, or 13 cents a year ago, when the company did not include employee option costs on its income statement. This year's results included option expenses. Analysts surveyed by Thomson First Call expected Yahoo to earn 11 cents a share, including option expenses. Sales rose 34% to $1.567 billion. Excluding distribution costs, sales rose 33% to $1.088 billion, up from $821 million a year earlier and in line with analyst expectations. Shares of Yahoo rose 60 cents to $31.90 in after-hours action.
SAN FRANCISCO (MarketWatch) -- Texas Instruments Inc., the world's largest supplier of cell phone chips, reported first-quarter net income of $585 million, or 36 cents a share, up from $411 million, or 24 cents, a year earlier. The results included $43 million in income from discontinued operations. Sales rose 23% to $3.3 billion. Analysts surveyed by Thomson First Call expected the company to post revenue of $3.287 billion and earnings of 32 cents a share, which included stock option expenses. TI, the world's No. 3 chipmaker behind Intel Corp. and Samsung Electronics, also makes chips used in televisions, calculators, printers and digital cameras.
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WASHINGTON (MarketWatch) - Qualcomm Inc. said Wednesday that earnings in the second-quarter ended March 26 rose 11% to $593 million, or 34 cents a share, from a year ago. Revenue jumped 34% to $1.83 billion, as the company shipped a record number of chips used to power wireless phones. Excluding stock-option expenses and other one-time items as well as results from investments, Qualcomm said it earned $706 million, or 41 cents a share. The San Diego-based company was expected to earn 40 cents a share on revenue of $1.80 billion, according to Thomson First Call.
Zoran's Unfinished Symphony
Av Richard Williams
With great sadness I have to inform you that Zoran Gayer passed away Monday night in Australia. He was a great friend and teacher. One who will be missed greatly.
Zoran was unusual in his willingness to share any discovery or knowledge, thinking that it was just part of being human. His work on EWT and behavioral aspects to trading have greatly assisted many, many people who knew him and fell under his tutelage.
His brilliant mind and enormous curiosity made it possible for him to look at the same things that most of us do, but to discover aspects that no one else that I have ever known has done. His latest theories of how mass psychology works to shape market behavior were remarkable.
He joked with me that he had another lifetime of work to pursue. And that wasn't far from the truth. He intended to die with his boots on, having lived a life that was full and rewarding.
Zoran, may you find the answers to all the questions we pondered in the next life; and some great waves too!
"When everyone thinks alike, everyone is likely to be wrong."
Humphrey Neill
NEW YORK (MarketWatch) - General Motors Corp. reported a first-quarter loss Thursday of $323 million, or 57 cents a share, narrower than the year-ago loss of $1.3 billion, or $2.22 a share. The automaker's 2006 first quarter included a $681 million, or $1.20 a share charge for a healthcare settlement for its retired workers. GM said special items included a $206 million, or 37 cents a share gain, including its sale of stake in Suzuki. It said its adjusted loss, excluding the health care charge but including the special items, was $529 million, or 94 cents a share. Analysts polled by Thomson First Call forecast a GM loss, on average, of 44 cents a share on sales of $39.4 billion. Detroit-based GM said sales rose 14.1% to $52.2 billion.
SAN FRANCISCO (MarketWatch) - Google Inc. reported first-quarter profit rose 60% to $592 million, or $1.95 a share, from $369 million, or $1.29, a year earlier. Those results include stock-option costs and other expenses. Analysts expected Google to earn $1.75 a share, on that basis. Sales excluding expenses Google pays to its distribution partners grew to $1.53 billion up 92% from last year, and above consensus expectations of $1.47 billion. Shares of Google shot as high as $429.50 a share in after-hours action.
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SAN FRANCISCO (MarketWatch) -- Intel Corp. , the world's largest chipmaker, reported its net income fell to $1.3 billion, or 23 cents a share, which included 4 cents a share in stock option expenses. By comparison, Intel earned $2.2 billion, or 34 cents a share, in the same period last year. Sales fell 5% to $8.9 billion due to sluggish demand for personal computer chips. Intel's results matched Wall Street's expectations. Analysts polled by Thomson First Call expected Intel to earn 23 cents a share on sales of $8.9 billion.
LOS ANGELES (MarketWatch) -- Juniper Networks Inc.'s shares fell nearly 6% Wednesday evening after the networking equipment maker reported quarterly revenue that was shy of analysts' average estimate, though its profit appeared to be in line with estimates. Juniper competes with Cisco Systems Inc. Juniper shares recently changed hands at $19.15 in extended trade, down from a normal close of $20.30.
SAN FRANCISCO (MarketWatch) -- Novellus Systems Inc. reported a first quarter profit Wednesday that fell slightly from the same period last year. Revenue for the period was $365.9 million compared to $339.7 million last year. Earnings for the quarter came in at $26.7 million, or 20 cents a share, compared to $30.5 million, or 22 cents a share, for last year. The company said profits excluding certain charges were $33.5 million, or 25 cents a share. Analysts were expecting a profit of 21 cents a share on revenue of $352.9 million, according to consensus estimates from Thomson First Call. The majority of estimates reflect the expensing of stock options. Novellus shares closed the regular session up 3% at $26.52.
SAN FRANCISCO (MarketWatch) -- Apple Computer Inc. on Wednesday reported a second-quarter profit of $410 million, or 47 cents a share, compared to $290 million, or 34 cents a share, a year ago. Revenue climbed about 35% to $4.36 billion from $3.24 billion a year ago. Analysts surveyed by Thomson First Call forecast Apple 43 cents a share on revenue of $4.52 billion.
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