Earnings: IBM, YHOO, MOT, AMD, JNPR, CHKP, RYL, STX, RMBS

[Jameson]

AFTER HOURS

Yahoo, IBM both rise after the bell

By Christopher Noble, CBS MarketWatch.com
Last Update: 5:41 PM ET Jan. 18, 2005   
 

SAN FRANCISCO (CBS.MW) -- Shares of Yahoo Inc. climbed in a busy evening of trading Tuesday after the company's fourth-quarter profit nearly tripled and revenue topped $1 billion for the first time, while International Business Machines' stock rose after Big Blue exceeded expectations.

The Nasdaq 100 After Hours Indicator, which tracks evening action among the technology-heavy index's leading issues, rose 0.72 points to 1,574.21.

IBM (IBM: news, chart, profile) rose 0.5 percent to $95.35 after it reported a fourth-quarter profit of $1.80 per share on revenue of $27.67 billion. Its earnings from continuing operations were $1.81 per share. It was expected to earn $1.76 per share on revenue of $27.47 billion. See full story.

Yahoo (YHOO: news, chart, profile) rose 1.4 percent to $37.70 after it reported a fourth-quarter net profit of 25 cents per share on revenue of $1.08 billion. Revenue excluding traffic acquisition costs was $785 million. It was expected to earn 11 cents per share on sales of $756 million. See full story.

Motorola (MOT: news, chart, profile) dropped 3.3 percent to $16.85 after it reported a fourth-quarter net profit of 27 cents per share on revenue of $8.84 billion. Earnings from continuing operations were 28 cents per share. It had been expected to earn 24 cents per share on sales of $8.46 billion. Some investors were disappointed at the company's first-quarter forecast.

Motorola said it expected to earn between 17 and 20 cents per share on revenue of $7.5 billion to $7.9 billion in the first quarter. Analysts had been forecasting a profit of 20 cents per share on revenue of $7.59 billion. See full story.

Earlier, the Dow Jones Industrial Average closed up 70.79 points to 10,628.79, while the Nasdaq Composite rose 18.13 points to close at 2,106.04. See full story.

Also making waves in the after hours, Advanced Micro Devices (AMD: news, chart, profile) fell 1.7 percent to $15.24 after it reported a fourth-quarter net loss of 8 cents per share on sales of $1.26 billion. It was expected to earn 8 cents per share on sales of $1.26 billion. See full story.

Juniper Networks (JNPR: news, chart, profile) rose 0.5 percent to $26.58 after it reported a fourth-quarter net profit of 11 cents per share on sales of $430 million. It was expected to post a profit of 14 cents per share on revenue of $414 million. See full story.

Check Point Software Technologies (CHKP: news, chart, profile) rose 2.7 percent to $23.60 after it reported a fourth-quarter profit of 30 cents per share on sales of $143 million. Excluding items it earned 31 cents per share. It had been expected to earn 29 cents per share on revenue of $141 million. See full story.

Ryland Group (RYL: news, chart, profile) fell 0.3 percent to $61.20 after it reported a fourth-quarter profit of $2.17 per share on sales of $1.24 billion. It was expected to earn $2.08 per share on sales of $1.27 billion.

Seagate Technology (STX: news, chart, profile) fell 1.4 percent to $18.10 after it reported a fiscal second-quarter profit of 29 cents per share on sales of $1.85 billion. It was expected to earn 24 cents per share on revenue of $1.77 billion. It also issued a third-quarter outlook that exceeded current analyst forecasts.

Rambus Inc. (RMBS: news, chart, profile) fell 5.7 percent to $20.10 after it reported a fourth-quarter profit of 6 cents per share on sales of $38.6 million. It was expected to earn 8 cents per share on sales of $39 million. See full story.

[Jameson]

09:18 ET Gapping Down : AL -9.8% (Novelis unit spin-off), RMBS -5.7% (misses by $0.02; revs in line), MOT -3.8% (reports Q4; downgrades from Piper and Raymond James), LU -3.8% (reports DecQ), NWAC -5.5% (misses by $0.12, ex items), IMOS -4.2% (reports Dec revs), SNDA -4.1% (shares sold by Asia Infrastructure Fund), BIVN -4% (stock offering), TASR -2.7%, NAVR -2.4% (stock offering), RMI -14% (reports DecQ).

09:07 ET Gapping Up : CHKP +4.5% (reports Q4, guides), OSTK +4% (listings jump 50% following eBay price increase), YHOO +1.9% (beats by $0.02; Jefferies upgrade), PFE +1.6% (reports Q4; Celebrex revs above expectations), PMTC +8.3% (beats by $0.02; guides Q2 revs above consensus), ENMD +8% (announces clinical publication), ASTM +7.5% (stem cell stock continues momentum over last 2 weeks, +24% yesterday), IPIX +6% (Joins GTSI's InteGuard Physical Security Alliance), ESLR +4.2% (continues recent momentum).... Under $3: CDSS +8.7% (Avondale initiates with a $4.50 target).