eBay (EBAY) 90.79 -12.26 (-11.9%)
Internet giant comes up a penny shy in its Q4 (Dec) report, reporting EPS of $0.33; The company proceeded to issue worse than expected earnings and sales targets for Q1 (Mar), and most of Q2 (June), Q3 (Sept), and Q4; As this is not the first time eBay has warned (the last being 3Q04), sellers have knocked EBAY significantly lower; Stock has fallen below its 200-day moving average at 91.3 tonight; On its call, mgmt noted that there was a slow start to the holiday season; On a side note, management announced a 2-for-1 stock split payable Feb 16
QLogic (QLGC) 36.30 -0.49 (-1.3%)
After raising its Q3 (Dec) outlook on Jan 11, storage equipment vendor exceeds the upwardly revised Reuters Estimates EPS and revenues figures; QLogic reports Q3 EPS of $0.48 on revenues of $150.3 mln; Stock has given back some after its tremendous run since late Aug (+60%); Competitors ADPT, BRCD, and ELX have weakened tonight as well
Qualcomm (QCOM) 38.42 -2.65 (-6.5%)
After increasing its Q1 (Dec) projections on Dec 21, wireless technology company delivers EPS of $0.28 (consensus of $0.27) on revenue growth of 21% to $1.39 bln (consensus of $1.39 bln); The company issued in line guidance for FY05 (Sept), but effectively warned for Q2 (Mar) EPS and sales; Since June 2003, QCOM has been on a steady march higher (+141%); Signs of some softness in the March quarter have been reason enough to take profits
Symantec (SYMC) 24.35 -0.56 (-2.3%)
After giving better than expected forecasts for Q3 (Dec) on Oct 20, computer security software provider shows a 41% increase in EPS to $0.24 (consensus of $0.22) and another 41% rise in sales to $695 mln (consensus of $665.98 mln); Mgmt guided Q4 (Mar) and FY05 revenues and earnings higher; On its call, the company noted that it recorded 25 deals of more than $1 mln, more than two times the number last year; Mgmt added that integration planning with VRTS is in 'full swing'; Selling tonight has likely been due to SYMC's light Q3 gross margins (82.5% versus expectations of 84.7%)
Capital One (COF) 79.01 -3.09 (-3.8%)
Credit card lender misses by a wide margin for Q4 (Dec) earnings; Company reports a 31% decline in EPS, to $0.77, as compared to the Reuters Estimates consensus of $0.98; Management cited a sharp increase (+76%) in marketing and advertising expenditures for the decline in profitability; Revenues were actually ahead of expectations, rising 1% to $2.8 bln; Company did reaffirm its FY05 (Dec) EPS outlook of $6.60-7.00 (consensus of $6.96), but investors have instead focused on the huge miss