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Dell (DELL)

Dell Computer has been replaced by Taiwan-based Acer Inc. as the Number 2 computer maker in the world. This announcement comes on the heels of Dell’s announcement that they will be closing a manufacturing plant in North Carolina, cutting nearly 1,000 jobs. Dell plans to outsource its North Carolina jobs to Mexico and other countries.
The events highlight that as Dell expands beyond its hardware business to software, services, and network management, the need for facilities such as the one closing in Winston-Salem, North Carolina, diminishes—along with the profits they generate. The devices U.S. facilities produce can be made faster and cheaper elsewhere, which is one factor in Acer’s overcoming Dell in the rankings.

Oct 27 · 12:46:00 PM · Source: Portfolio.com
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by Michael Oliveto

IBM (IBM)

International Business Machines Corp., said today it will add $5 billion to its plan to repurchase stock. IBM said it will repurchase shares on the open market or in private transactions from time to time, depending on market conditions. The company also said that its board today declared a regular quarterly cash dividend of $0.55 per common share, payable December 10, 2009 to stockholders of record November 10, 2009.
The move rewards shareholders after back-to-back quarters of profit gains.

Oct 27 · 11:58:00 AM · Source: Company News
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by Larry Etter

Cisco (CSCO)

Cisco today announced its intent to acquire privately held ScanSafe, Inc. Based in London and San Francisco, ScanSafe is a market leader of software-as- a-service (SaaS) Web security solutions for organizations ranging from global enterprises to small businesses.

Oct 27 · 11:37:00 AM · Source: Company News Release
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by Larry Etter

Anixter International (AXE)

Anixter International Inc., a global distributor of communication products, electrical and electronic wire & cable, fasteners and other small parts, today reported that net income for third quarter ended October 2, 2009 declined to $22.1 million, a fall of 63 percent as compared to $59.7 million reported in the year ago quarter. Sales of $1.27 billion decreased 20 percent compared to sales of $1.59 billion in the year ago quarter.

Oct 27 · 10:16:00 AM · Source: Company News Release
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by Larry Etter

EarthLink Inc. (ELNK)

Earthlink said third quarter earnings decreased to $29,867,000 from $51,895,000 in the prior year's period. Revenue for the third quarter of 2009 was $174.5 million, a decline of 6 percent from the second quarter of 2009 and 24 percent from the year-ago quarter.
But the company's CEO said adjusted EBITDA, free cash flow and net income all came in at the high end of our estimates and as a result, we are slightly raising our full year 2009 guidance.

Oct 27 · 10:10:00 AM · Source: Company News Release
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by Larry Etter

Corning (GLW)

Corning, the world's biggest maker of LCD display glass for TVs and laptops, said it earned $643 million, or 41 cents a share, in the July-September period, down from $768 million, or 49 cents a share, a year earlier. Sales fell 5 percent to $1.48 billion from $1.55 billion a year ago. That also beat analysts' forecasts of $1.42 billion.
But the company's results did beat Street forecasts.

Oct 26 · 9:58:00 AM · Source: Company News Release
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by Larry Etter

Xerox (XRX)

Xerox reported 3rd quarter earnings of 14 cents per share on revenue of $3.7 billion compared to earnings of 30 cents per share on revenue of $4.37 billion from the previous year same quarter.
Xerox expects fourth-quarter 2009 earnings per share in the range of 20 cents to 22 cents, excluding costs related to the acquisition of ACS. The company has increased its full-year earnings expectations to 55 cents to 57 cents per share, which excludes fourth-quarter ACS acquisition related costs. Prior guidance for full-year 2009 was 50 cents to 55 cents per share.

Oct 23 · 9:55:00 AM · Source: Press Release
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by Rich Pike

Microsoft (MSFT)

Microsoft posted quarterly earnings and revenues that surpassed Wall Street estimates Friday. First-quarter net income fell to $3.57 billion, or 40 cents a share, beating the 32-cent average estimate of analysts. Revenue, excluding $1.47 billion deferred to a future quarter, was $12.9 billion. Analysts had projected sales of $12.4 billion for the period ended Sept. 30.
The company said sales of Windows and Xbox exceeded expectations due to strong consumer demand and that cost discipline drove earnings per share growth.

Oct 23 · 9:48:00 AM · Source: Company news release
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by Larry Etter

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