Micron (MU) 11.74 -0.14 (-1.2%)
Maker of flash memory and other chips delivers Q1 (Nov) EPS of $0.23, which was $0.02 better than the market's expectation; Sales, however, missed the mark, rising 6% to $1.26 bln (consensus of $1.31 bln); Management said that its synchronous DRAM product - one of its strongest margin products - came under competitive pressure; Company added that almost one-third of its FY05 (Aug) capex budget of $1.5 bln was spent in this quarter; MU has been range-bound since Aug, failing to participate in the recent rally
PalmSource (PSRC) 11.89 -1.34 (-10.1%)
After issuing downside Q2 (Nov) guidance Sept 23, the maker of the Palm operating system for handheld devices blows away the downwardly revised top and bottom line consensus estimates; The company, however, goes on to issue a softer than expected outlook for Q3 (Feb) - sees revenues at $17-18.9 mln as compared to the Street's forecast of $23 mln; On its call, co says that the PDA market has been flat to down over the last several years, and that this trend is continuing; Mgmt declines to give guidance beyond one quarter
Red Hat (RHAT) 14.14 -0.93 (-6.2%)
After warning for Q3 (Nov) revenues Sept 20, Linux and open-source software developer only matches the Reuters Estimates EPS consensus of $0.06 on light revenues; On its call, company says its expects Q4 (Feb) EPS of $0.06-0.07 (consensus of $0.07) and sales of $55.5-56.5 mln (consensus of $57.8 mln); Also puts FY05 revenues at $194.5-195.5 mln (consensus of $196.9 mln); Stock takes a hit off the worse than expected outlooks; RHAT has rallied 21% since Nov
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