Microsoft (MSFT) 29.80 +1.48 (+5.2%)
Software giant shells out $75 bln for a share buyback and one-time dividend in what may be the largest cash disbursement in history (according to the Wall Street Journal); Microsoft intends to repurchase $30 bln of stock over the next 4 years and issue a one-time dividend of $32 bln, or $3 per share; The company also plans to double its annual dividend to $0.32 (for an annual yield of 1.1%); This is the latest decision on the part of management to use dividends as a way to boost interest in MSFT, which has lagged the Nasdaq over the past 2 years
Motorola (MOT) 16.99 +0.9 (+5.6%)
After raising its expectations on Apr 20, provider of wireless technologies reports Q2 (June) EPS of $0.21, $0.03 ahead of the Reuters Estimates consensus, on revenues that rose 41% year/year to $8.7 bln (consensus of $8.44 bln); Gross margins were also impressive, expanding 385 basis points to 36.43%; Motorola also guided Q3 (Sept) revenues to the high-end of estimates; The company has been on a roll as of late, benefiting from Nokia's (NOK) apparent downturn; Company has warned 3x in the past 4 months
RF Micro Devices (RFMD) 6.39 -0.17 (-2.6%)
Computer chip maker tops the Q1 (June) consensus EPS estimate by $0.03 - after the former was revised lower following the company's warning on Apr 27; RF Micro Devices still came in light on revenues; Management's outlook for Q2 (Sept) is not much better: sees EPS at $0.03-0.04 versus the consensus of $0.07; RFMD has a large exposure (~40%) to Nokia, and that has likely hurt sales
Sun Microsystems (SUNW) 4.08 -0.03 (-0.7%)
Network computer company misses on the bottom-line after guiding lower for Q4 (June) on Apr 22 - marking its third earnings miss in a row; Revenues, however, topped the Street's forecast - rising 4% to $3.11 bln (consensus of $2.92 bln) as service revenues hit $1 bln+ for its first time ever; Company does not comment on guidance on its conference call, but says total R&D and SG&A spending should improve by $200 mln in Q1 (Sept) from fiscal Q4; In general, Sun continues to feel competitive pressure from Linux
Texas Instruments (TXN) 22.40 +0.64 (+2.9%)
Chipmaker turns in a 178% year/year increase in EPS to $0.25 (consensus of $0.25), and a 39% rise in sales to $3.24 bln (consensus of $3.21 bln) in its Q2 (June) report; Management then issues in line guidance for Q3 (Sept); TXN enjoys a nice pop as talk on the Street ahead of the report was fairly cautious; Merrill Lynch and Lehman Brothers both downgraded the stock last week; Management notes on its call that high performance analog grew 16% sequentially
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