Market News

Motorola (MOT)

Motorola surprised Wall Street by announcing that third quarter earnings of $12 million, or a penny per share compared with a loss of $397 million, or 18 cents per share, in the same quarter a year ago. ales fell 27 percent to $5.4 billion from $7.5 billion a year ago.
The company also forecast stronger-than-anticipated earnings for the current period.

Oct 29 · 9:50:00 AM · Source: Company News Release
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by Larry Etter

LSI Logic (LSI)

LSI today said it posted a profit of $52.5 million, or 8 cents a share, up from $11.4 million, or 2 cents a share, a year earlier. Excluding the tax benefit and other items, earnings rose to 18 cents from 14 cents. Revenue dropped 19% to $578.4 million.
Tax benefit masked lower sales and margins.

Oct 28 · 5:34:00 PM · Source: Company News Release
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by Larry Etter

Symantec (SYMC)

Symantec said its fiscal second quarter income rose 19 percent to $150 million, or 18 cents a share, up from $126 million, or 15 cents a share, a year earlier. Excluding items, earnings slipped to 36 cents from 37 cents. Revenue fell 2.9% to $1.47 billion. The security-software company also said it would buy back up to $1 billion in shares.
Strong sales in its consumer segment pushed results above expectations.

Oct 28 · 5:31:00 PM · Source: Company News Release
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by Larry Etter

Visa, Inc (V)

Visa Inc. reported fiscal year fourth-quarter GAAP net income of $514 million or $0.69 per class A common stock, compared to a loss of $356 million or $0.45 per class A common stock in the prior year quarter. Total operating revenues for the quarter were $1.88 billion, compared to $1.71 billion in the prior year quarter.
Revenue was higher than analysts' estimates and the company company announced that its board has authorized a $1 billion share repurchase plan. The authorization will be in place through September 30, 2010, and is subject to extension or expansion at the determination of Visa's Board of Directors.

Oct 27 · 7:49:00 PM · Source: Company News Release
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by Larry Etter

National Instruments Corp. (NATI)

National Instruments today reported that it had a third quarter profit of $9.931 million, a decrease from $23.159 million in the comparable prior period. Third quarter net sales totalled $165 million, a decrease from $215 million last year.
Revenue is up 8 percent from the second quarter of this year.

Oct 27 · 7:42:00 PM · Source: Company News Release
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by Larry Etter

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

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