Altera (ALTR) 20.69 +0.46 (+2.3%)
After warning for Q3 (Sept) revenues on Sept 2, maker of programmable microchips still misses the downwardly revised sales estimate - coming in at $264.6 mln versus the consensus of $268 mln; EPS, however, topped the market's expectation by $0.02; Company again cut its quarterly outlook on its conference call - calling for a Q4 (Dec) sequential 1-5% decline, though the market doesn't seem to mind; Altera blamed excess inventories from a strong Q3 (Sept); Rival XLNX is 1% higher tonight
Amgen (AMGN) 55.52 -0.89 (-1.6%)
Biotech giant delivers a 27% increase in Q3 (Sept) EPS, to $0.64 (consensus of $0.62), and a 23% rise in revenues to $2.70 bln (consensus of $2.68 bln); Company raises its FY04 (Dec) EPS and sales outlook, but market remains fixated on its disappointing Aranesp - its anemia drug - numbers; Sales came in at $608 mln versus the consensus of $651 mln; Enbrel was also weak at $496 mln (consensus of $461.5 mln); AMGN has underperformed the BTK index over the past year due to concerns about its long-term growth drivers
eBay (EBAY) 94.49 +3.13 (+3.4%)
Internet behemoth shows upside to the top and bottom-line consensus estimates in its Q3 (Sept) report; Company then guides higher for Q4 (Dec)/FY04 EPS and revenues; Its forecasts for FY05 are skewed more towards the low-end of estimates, but traders have written that off to EBAY's tendency to err on the side of caution with its initial goals; Stock has shown strength since Aug, rallying 22% near 52-week highs; Its upside tonight has lifted other internet players AMZN, GOOG, and YHOO
PMC-Sierra (PMCS) 14.41 +0.18 (+1.3%)
After issuing worse than expected Q3 (Sept) revenues guidance on Sept 20, chip maker matches the consensus EPS estimate but still comes up short on sales; Company then warns for Q4 (Dec) sales and profits - putting them at $60-63 mln and breakeven versus the consensus of $74.2 mln and $0.04; Stock finds a bid, though, as management said 'bookings bottomed in July and have steadily improved since then' on its call; Added that lead times at foundry partners have been favorable and that it is not anticipating pushouts and cancellations in Q4
Siebel Systems (SEBL) 9.26 +0.10 (+1.1%)
After guiding higher for Q3 (Sept) revenues on Oct 4, business software makers delivers an in line report that was accented by a 10% sequential increase in license revenues; Company said it signed 84 new software license arrangements in Q3, and that its renewal rate was 90%, near an all-time high; On its call, Siebel puts Q4 (Dec) EPS at $0.05-0.08 (consensus $0.07) and sales at $330-360 mln (consensus of $345.9 mln)
Symantec (SYMC) 56.05 +1.62 (+3.0%)
Security software maker turns in Q3 (Sept) EPS of $0.41, $0.02 ahead of the Reuters Estimates consensus, on top of revenues that rose 44% to $618 mln; Management went on to guide Q4 (Dec) and FY05 earnings and sales higher, due in part to increasing demand for its products; Co cited a study that documented approximately 4,500 new viruses and worms; Company also announced a 2-for-1 stock split which will be paid on Nov 30 to shareholders of record as of Nov 11; Competitors CA and MFE have moved higher tonight
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