Intel (INTC) 24.51 +1.80 (+7.9%)
Semiconductor co raises its Q4 (Dec) sales guidance to $9.3-9.5 bln (consensus of $8.98 bln) from $8.6-9.2 bln and widens its gross margin guidance to 55-57% from 56%; On its call, management says that revenues from microprocessors and chip sets have been stronger than expected across every geographic segment; Also says that results have been at the high end of seasonal patterns; Attributes the less than spectacular gross margins forecast to inventory valuation (partly); Chip equipment makers AMAT, KLAC, & NVLS have exploded tonight (all +3%)
Catalyst Semiconductor (CATS) 5.60 -0.52 (-8.5%)
Small-cap analog product maker misses by a wide margin in its Q2 (Oct) report; Turns in EPS of $0.05 and revenues of $15.6 mln as compared to the Reuters Estimates consensus of $0.11 and $17.4 mln, respectively; Company cited weaker demand for its memory products and resulting price pressures for its shortfall; Due to this, gross margins fell to 40.8%; Stock has been stuck in a trading range since Sept and has not participated in the recent rally
Procter & Gamble (PG) 55.11 -0.71 (-1.3%)
Personal products company gets word from a FDA advisory panel that it wants more data on its female sexual dysfunction drug's (Intrinsa) long-term safety; The panel said it found the drug to be effective, but wanted the company to conduct more tests on the testosterone patch; The drug is being partnered with Watson Pharmaceuticals (WPI +0.1%) and is intended to treat menopausal women whose ovaries have been surgically removed; The FDA usually follows the decisions of its panels
Mandalay Resort (MBG) 69.75 +0.06 (+0.1%)
Casino operator reports Q3 (Oct) EPS of $1.04, which tops the Street's estimate by an impressive $0.17; Revenues also beat the market's expectation, rising 15% to $720.3 mln; Revenue per available room on the Vegas strip grew 18% and drove the upside; The stock has held steady around $70 over the past 6 months after the company agreed to be acquired by MGM Mirage (MGG); The deal is expected to be completed in 1Q05
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