Market News

Lexmark (LXK)

Lexmark International Inc. (LXK) announced additional job cuts and reported third-quarter profit slumped 73% on restructuring costs - but also said demand is improving in both its hardware and printing services businesses.
Excluding the restructuring charges, Lexmark said Tuesday its results were far better than its downbeat forecast. The printer maker's fourth-quarter forecast came in above Wall Street estimates, helping to send the stock higher.

Oct 20 · 12:27:00 PM · Source: Wall Street Journal
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by Larry Etter

Moneygram International, Inc. (MGI)

MoneyGram International (NYSE:MGI), a global leader in the payment services industry, today entered into an agreement with the Federal Trade Commission (FTC) to make certain enhancements to its consumer anti-fraud program to further combat consumer fraud perpetrated by criminals who use MoneyGram’s services illegally.
The company has begun implementing new systems and processes to further bolster consumer protection, which have been effective at stopping millions of dollars in fraudulent transactions every year.

Oct 20 · 11:31:00 AM · Source: Business Wire
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by Larry Etter

Apple (AAPL)

Apple announced financial results for its fiscal 2009 fourth quarter ended September 26, 2009. The Company posted revenue of $9.87 billion and a net quarterly profit of $1.67 billion, or $1.82 per diluted share. These results compare to revenue of $7.9 billion and net quarterly profit of $1.14 billion, or $1.26 per diluted share, in the year-ago quarter.
“We are thrilled to have sold more Macs and iPhones than in any previous quarter,” said Steve Jobs, Apple’s CEO. “We’ve got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010.” “We are delighted with our September quarter and fiscal 2009 results,” said Peter Oppenheimer, Apple’s CFO. “For the full year, we grew revenue by 12 percent and net income by 18 percent in extraordinarily challenging times. Looking ahead to the first fiscal quarter of 2010, we expect revenue in the range of about $11.3 billion to $11.6 billion and we expect diluted earnings per share in the range of about $1.70 to $1.78.”

Oct 20 · 10:33:00 AM · Source: Apple Press Release
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by Rich Pike

NCR Corp. (NCR)

NCR Corporation (NYSE: NCR) Tuesday launched its first outdoor DVD-rental kiosk, the NCR SelfServ Entertainment 2381. Able to hold as many as 950 DVDs, this weather-protected outdoor kiosk is the most secure and highest-capacity outdoor DVD-rental kiosk in the industry.
Through its new outdoor kiosk, NCR will be able to extend its deployment of BLOCKBUSTER Express™-branded DVD-rental kiosks to more convenience store and smaller-footprint, 24-hour retail locations.

Oct 20 · 10:19:00 AM · Source: Business Wire
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by Larry Etter

Voltaire Ltd. (VOLT)

Voltaire Ltd. (NASDAQ: VOLT), a leading provider of scale-out data center fabrics, today announced that Voltaire and IBM are expanding their strategic partnership whereby IBM is now selling Voltaire’s new 10 Gigabit Ethernet switches with IBM’s integrated System Cluster 1350 portfolio of products.
Voltaire says the addition of Voltaire’s scale-out Ethernet switches to IBM’s data center networking portfolio provides customers who are designing next generation, virtualized data centers and cloud environments, a complete solution that delivers efficiency, scalability and performance, at significantly reduced costs.

Oct 20 · 10:14:00 AM · Source: Business Wire · Related: IBM
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by Larry Etter

Cirrus Logic Inc. (CRUS)

Cirrus Logic, Inc. (Nasdaq: CRUS), a leader in high-precision analog and digital signal processing components, said second quarter revenue was $55.7 million compared to $53.3 million during the second quarter of fiscal year 2009 and $37.5 million in the previous quarter. Gross margin for the quarter was 52 percent, down from 56 percent in the quarter a year ago and flat compared to 52 percent reported for the previous quarter.
Net income was 6,764,000 in the quarter vs. 6,339,000 in the year-prior period.

Oct 20 · 10:10:00 AM · Source: Business Wire
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by Larry Etter

Quest Software Inc. (QSFT)

Quest Software, Inc. (Nasdaq: QSFT) today announced valuable updates to its SharePoint management products, Quest Recovery Manager and Quest Site Administrator for SharePoint.
Both products streamline SharePoint administration and recovery, and further protect user access.

Oct 20 · 9:53:00 AM · Source: Business Wire
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by Larry Etter

Texas Instruments (TXN)

Texas Instruments reported a third-quarter profit of $538 million, or 42 cents a share, compared with a profit of $563 million or 43 cents a share in the year-earlier period. Revenue fell to $2.9 billion from $3.4 billion. In the current quarter, TI said it expects revenue in the range of $2.78 billion to $3.02 billion, and earnings per share in the range of 42 cents to 50 cents.
In a statement, Chief Executive Rich Templeton said: "We are encouraged with the strong sequential increase in demand for our products over the past two quarters, as our customers are winding down their inventory corrections and have begun to increase production levels in their factories."

Oct 20 · 9:49:00 AM · Source: Market Watch
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by Rich Pike

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