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IBM (IBM)

IBM Thursday reported third-quarter net income of $3.2 billion compared with $2.8 billion in the third quarter of 2008, an increase of 14 percent. Total revenues for the third quarter of 2009 of $23.6 billion increased 1 percent from the second quarter of 2009, and decreased 7 percent (5 percent, adjusting for currency) from the third quarter of 2008.
IBM's CEO Sam Palmisano said IBM's long-term strategic shift to higher-value businesses "again enabled us to deliver outstanding margin, earnings and cash flow growth in the third quarter.” He said IBM also saw improved revenue trends in our business and share gains in software and hardware.

Oct 15 · 4:21:00 PM · Source: MarketBeast
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by Larry Etter

Google (GOOG)

Google reported revenues of $5.94 billion for the quarter ended September 30, 2009, an increase of 7% compared to the third quarter of 2008. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the third quarter of 2009, TAC totaled $1.56 billion, or 27% of advertising revenues.
Earnings beat expectations: GAAP net income in the third quarter of 2009 was $1.64 billion, compared to $1.29 billion in the third quarter of 2008.

Oct 15 · 4:08:00 PM · Source: Business Wire
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by Larry Etter

Nokia Corporation (NOK)

Nokia, the world’s largest mobile phone maker, reported a $1.36 billion loss in the third quarter as the company wrote down the value of its wireless networks venture by $1.35 billion and global sales declined 20 percent.
The company said that its leading share of the global cellphone market remained unchanged at 38 percent. But it acknowledged that its lead in smartphones, the fastest-growing segment of the market, had fallen to 35 percent from 41 percent, losing ground to Apple’s iPhone and Research in Motion’s BlackBerry devices.

Oct 15 · 1:47:00 PM · Source: NY Times
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by Larry Etter

Imation Corporation (IMN)

Memorex, a portfolio brand of Imation Corp. (NYSE: IMN), Thursday announced the release of the Memorex MyVideo™ and MyVideo HD camcorders—stylish pocket camcorders designed to capture life’s impromptu moments.

Oct 15 · 1:37:00 PM · Source: Business Wire
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by Larry Etter

Lawson Software Inc. (LWSN)

Lawson Software (Nasdaq: LWSN) announced today that its stockholders approved all proposals voted at its 2009 Annual Meeting of Stockholders held today at the company's headquarters in St. Paul, Minn. Voting results for two proposals were as follows: All nine directors standing for election were approved to serve during the fiscal year ending May 31, 2010; stockholders voted to ratify and approve the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the company for the fiscal year ending May 31, 2010.

Oct 15 · 12:23:00 PM · Source: Business Wire
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by Larry Etter

Fairchild Semiconductor International, Inc. (FCS)

Fairchild Semiconductor (NYSE: FCS), a leading global supplier of high performance products to drive energy-efficiency, today announced results for the third quarter ended September 27, 2009. Fairchild reported third quarter sales of $331.8 million, up 19 percent from the prior quarter and 23 percent lower than the third quarter of 2008. Fairchild reported third quarter net income of $2.7 million or $0.02 per diluted share compared to a net loss of $24.9 million or $0.20 per share in the prior quarter and net income of $26.7 million or $0.21 per diluted share in the third quarter of 2008. Gross margin was 26.0 percent compared to 23.2 percent in the prior quarter and 29.9 percent in the year ago quarter. Included in these results is $3 million of accelerated depreciation and a favorable $0.1 million inventory reserve release related to previously announced fab closures.
Company says order rates remain solid across broad range of end markets and regions. It also said that combined channel and internal inventories are down $26 million from the prior quarter

Oct 15 · 11:02:00 AM · Source: Business Wire
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by Larry Etter

Cisco (CSCO)

Cisco Systems recent offer to purchase Norwegian videoconferencing firm Tandberg for 153.50 crowns per share has been rejected by a group holding 24% of the firm’s outstanding shares.
Amund Lunde, CEO of Oslo life insurance group Pensjonsforsikring and member of the group that turned down the bid said, "We think the price is too low." Cisco's offer values Tandberg at about 23 times next year's projected earnings, slightly above U.S. rival Polycom's multiple of 21.7.

Oct 15 · 10:47:00 AM
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by Michael Oliveto

Cypress Semiconductor Corporation (CY)

Cypress Semiconductor Corp. (NYSE:CY) today announced that revenue for the 2009 third quarter was $178.7 million, up 15% from $155.8 million for the prior quarter, and down 20% from $222.7 million for the year-ago period (excluding SunPower). Cypress recorded a GAAP net loss of $19.7 million in the 2009 third quarter, or a diluted net loss per share of $0.13. This compares with last quarter’s diluted net loss per share of $0.32 and diluted earnings per share in the year-ago third quarter of $0.86.
Q3 results exceeded guidance and revenue increased was a good surprise.

Oct 15 · 10:44:00 AM · Source: Business Wire
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by Larry Etter

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