This can Western Digital (WDC) posted a great quarter the other day. They also raised their guidence considerably for the next quarter. There financials look good and I'm seriously thinking about purchasing shares. I will go over their annual report this weekend and make a decision next week.July 31 (Bloomberg) -- Staples Inc. and Wal-Mart Stores Inc. are slashing laptop prices and expanding their selections for the back-to-school shopping season, banking on the computer demand to sell more profitable accessories and services.
Staples, the largest office-supplies retailer, boosted its portable computer selection by 50 percent, while Wal-Mart, the worlds largest retailer, is selling out of a $298 Compaq Presario model in some stores.
Those retailers, along with Best Buy Co., are looking to cheaper laptops to entice customers to buy the external hard drives and bags that are three times as profitable as the computers, according to Stephen Baker, an analyst at NPD Group. Consumers spend almost as much on the extras as they do on the hardware; last year, people bought 89 cents worth of accessories for every $1 spent on PCs, said Bob ODonnell, an analyst with research firm IDC.
The retailers have done a great job of layering items onto that purchase, said Lauri Brunner, a Minneapolis-based analyst at Thrivent Asset Management, which owns Wal-Mart, Staples and Best Buy shares among the $67 billion in assets it manages.
Laptop shipments are expected to climb 4.1 percent this year, tempering a 16 percent decline in demand for desktop PCs, according to market researcher Gartner Inc. Revenue may total $113 billion. By Bloomberg calculations, retailers could get a $11.3 billion slice of that, assuming profit margins of 10 percent. That compares with $30.3 billion they could make on accessories.
really?RSTEIN said:Ford: to sell or not to sell, that is the question.
Edit: out of F.
The Taurus was the #1 selling mid-sized car up until the mid to late 90's (the Camry took over that spot).bathala said:really?
i was thinking of buying it, because Ford is bringing back their Taurus line-up. unless it has a bad reputation
bathala said:really?
i was thinking of buying it, because Ford is bringing back their Taurus line-up. unless it has a bad reputation
RSTEIN said:Ford: to sell or not to sell, that is the question.
Edit: out of F.
What I predicted, but it doesn't seem to have any impact on the market. I'm butthurt with SKF b/c the bank accounting turned red to black. I'm up on everything else though. PEACE.Ether_Snake said:
Zyzyxxz said:WTF is with the whole industry pushing their games to Q1.
They can't avoid COD MW2 forever and now Q1 is the crowded season.
I think we may be in for a bleak holiday shopping season for new releases other than COD MW2. Might be a good time to short ATVI for the holidays.
Why would you short bank stocks? That makes absolutely no sense.Pimpwerx said:What I predicted, but it doesn't seem to have any impact on the market. I'm butthurt with SKF b/c the bank accounting turned red to black. I'm up on everything else though. PEACE.
tarius1210 said:MVL earnings tomorrow. We better put out good numbers. I still can't believe we are trading at $40.
tarius1210 said:Nice avatar btw.
bathala said:dammit, I didn't know AIG jumped that much. Last time I have it was 1.60 now its 13 :S
The street was looking for $0.31.NEW YORK--(BUSINESS WIRE)--Marvel Entertainment, Inc. (NYSE: MVL - News), a global character-based entertainment and licensing company celebrating the 70th anniversary of its founding in 1939, today reported operating results for its second quarter and six months ended June 30, 2009. Marvel also today raised the low end of its full year 2009 financial guidance for net sales, net income and diluted earnings per share as a result of stronger than anticipated operating performance in the first half of 2009.
For Q2 2009, Marvel reported net sales of $116.3 million and net income of $29.0 million, or $0.37 per diluted share, compared to net sales of $156.9 million and net income of $46.7 million, or $0.59 per diluted share, in Q2 2008. The year-over-year decrease in net sales principally reflects the anticipated decrease in Licensing Segment net sales which benefited in the year-ago period from the initial recognition of licensing revenues related to the Iron Man and The Incredible Hulk feature films and from licensing associated with the Spider-Man 3 feature film which debuted in May 2007. Marvel's Chairman, Morton Handel, commented, Marvels solid Q2 operating results reflect the strength of our core businesses supported by the growing global exposure of our corporate and character brands. We remain focused on extending demand for Marvel branded entertainment and licensed products, particularly for brands and international markets that have previously been underdeveloped. We pursue these initiatives while maintaining the strategic and financial discipline that has yielded high operating margins and strong cash flows.
Principal photography for our Iron Man 2 feature film concluded on schedule last month, and the media and fan anticipation for this May 2010 release continues to build, as was demonstrated by tremendous media coverage and positive fan response around the recent Comic-Con in San Diego, attended by well over 120,000 fans. Iron Man 2 will be the first of four self-produced films to debut over the two-year period 2010-2012, in an ambitious creative project that will, for the first time, unite many of Marvels favorite Super Heroes in a story arc that builds to The Avengers in May 2012.
Driving further brand exposure are the multiple Marvel character animated television series on air in the US and abroad. After the successful 09 launches of Iron Man Armored Adventures and Wolverine and the X-Men, we are looking forward to the September launch of The Super Hero Squad on The Cartoon Network. This new series re-imagines existing Marvel characters for younger audiences. Also, our online exposure is ramping nicely with increasing levels of content and games which has led to a solid increase in our online traffic.
wsj.comElectronic Arts Inc.'s fiscal first-quarter loss widened and revenue fell, largely because of accounting for deferred revenue, but the videogame maker topped Wall Street expectations on strong sales of "Sims 3" and sports titles for the Nintendo Wii.
Chief Financial Officer Eric Brown called the results "solid" as the company affirmed its fiscal-year forecast.
"We're expecting growth in the second half of the calendar year, and particularly, strong growth in our digital services," Mr. Brown said in an interview. "Retail demand is holding up and our frontline titles have been performing well."
He added the company still expects videogame-industry sales, which have fallen most of the year, to begin growing again by the end of the year.
Shares rose nearly 4% to $22.75 in after-hours trading. The stock has clawed back from its low in February, having risen by half, but it is still down nearly 60% in the last 11 months.
EA has been working hard to get back in the game after not scoring a profit in over two years, well before the retail slump set in. Still, the company has released some much-needed hits, including the latest Sims installment and Wii sports games. Turnaround efforts have been complicated by the downturn in consumer spending, which analysts are saying may not recover in time for the holiday season.
Last quarter, EA, well known for its Rock Band and Madden franchises, said it was ahead of schedule on its cost-cutting efforts and maintained it expects to record a profit this fiscal year.
For the quarter ended June 30, EA reported a loss of $234 million, or 72 cents a share, compared with a year-earlier loss of $95 million, or 30 cents a share.
Excluding stock-based compensation and other items, the loss narrowed to 2 cents from 42 cents.
Revenue dropped 20% to $644 million. Adjusted for deferred revenue, the figure increased 34% to $816 million.
Analysts polled by Thomson Reuters expected an adjusted per-share loss of 13 cents on adjusted revenue of $730 million.
Gross margin fell to 50.2% from 63.2%.
We knew Goldman has an awesome quarter with respect to trading, but the steadiness of the bank's profits in this area are something to behold.
Bloomberg: Goldman Sachs Group Inc. made more than $100 million in trading revenue on a record 46 separate days during the second quarter, or 71 percent of the time, breaking the previous high of 34 days in the prior three months. Trading losses occurred on two days during the months of April, May and June, down from eight in the first quarter, the New York-based bank said today in a filing with the U.S. Securities and Exchange Commission. The company made at least $50 million on 58 of the 65 trading days during the quarter, or 89 percent of the time.
Of course, conspiracy theorists will think this has something to do with them stealing money, or frontrunning or engaging in High-Frequency Trading. But they said yesterday that HFT-related gains accounted for just 1% of annual revenue (so about $500 million), which means there's no way that can account for so many $100 million days.
That being said, nobody has offered an explanation of how they pull this off so steadily.
Zyzyxxz said:I bought 1300 shares of C yesterday at 2.64 and now I'm up over 10% today, I'll probably pull out once it gets near 3.50
Baker Hughes shares fell more than 5% on Wednesday after the company said it faces price erosion in its international business on the heels of a decline of 77% in its second-quarter net income.
Suntech Power signs contract with recurrent energy to deliver 5MW of modules in Q4 2009 for California's largest solar photovoltaic system (STP) 20.58 : Co announces that it has been selected to supply over 25,000 modules for Recurrent Energy's five megawatt municipal solar power project atop the Sunset Reservoir in San Francisco, California. All modules are scheduled for delivery in the fourth quarter of 2009.
Uhh, wow, so I dumped this yesterday after I noticed some high volume last-minute trades and the company's past "leaks", looks like I was right on the money (down 25%).esc said:Bought a lot of NRI today, they are up for FDA approval soon.
Don't worry it will probably go down AH like it always does.Ether_Snake said:Oh look at that, CAE up 1.45% when everyone is down.
You'll have another chance when that piece of crap company posts "earnings" on Friday.Zyzyxxz said:SHIIIIIIIIIIIIT!
I was gonna buy a load of AIG @ 13 and it suddenly jumped $5 today? WTF
sweet. I'll keep an eye for this. Just made profit with my BACtarius1210 said:You'll have another chance when that piece of crap company posts "earnings" on Friday.
bathala said:sweet. I'll keep an eye for this. Just made profit with my BAC
I was being sarcastic.bathala said:sweet. I'll keep an eye for this. Just made profit with my BAC
oh :loltarius1210 said:I was being sarcastic.
Didn't get the pop I was expecting.CITY OF COMMERCE, Calif. (AP) -- Discount retailer 99 Cents Only Stores Inc. on Wednesday said it posted a fiscal first-quarter profit as more shoppers frequented the company's stores for discounted merchandise in the recession.
The company earned a profit of $9.5 million, or 14 cents per share, compared with a loss of $1.5 million, or a loss of 2 cents per share, last year amid high food and energy prices.
For the quarter ended June 27, sales rose 9 percent to $332.1 million from $304.9 million last year. During the quarter, same-store sales rose 23.6 percent at its Texas stores, for example.
Analysts polled by Thomson Reuters expected an 8-cent profit and revenue of $329.2 million.
Chief Executive Eric Schiffer said customer traffic has been strong, as consumers are looking to save on household items.
The company was debt-free at the end of the quarter and had $155.5 million in cash.
For the second quarter, same-store sales will be positive and in the low single digits.
Earnings will decline sequentially because of minimum-wage increases in Texas and Nevada, a calendar shift and seasonally higher temperatures that will affect merchandise.
tarius1210 said:Don't worry it will probably go down AH like it always does.
* Q2 EPS ex-items 8 cts/share vs Street view 7 cts
* Q2 non-GAAP rev $801 mln vs Street view $810.7 mln
* Cuts 2009 sales forecast, affirms adjusted EPS view
* Sees Q3 EPS ex-items 3 cents, rev $700 mln (Adds CEO and analyst comments, details from conference call, byline)
Activision Blizzard Inc (ATVI.O) offered a disappointing quarterly forecast and cut its 2009 revenue outlook with two major games delayed till 2010, but its shares were little changed as profit turned out better than expected.
The video game publisher slashed its 2009 non-GAAP revenue outlook by $300 million to $4.5 billion as it shifted hotly anticipated titles "Singularity" and "StarCraft II" into next year. But it affirmed its annual forecast for adjusted profit of 63 cents a share.
And for the September quarter, the company forecast a profit excluding items of 3 cents a share on non-GAAP revenue of $700 million. That is below analysts' average estimate for earnings per share of 10 cents on revenue of $888 million, according to Reuters Estimates.
"They maintained their [2009] bottom line guidance, which was a relief to some people," Janco Partners analyst Mike Hickey said.
But he said the company's move to lower 2009 revenue guidance was not just from the push-out of the two titles into 2010, but a recognition of persistent weakness in the industry.
Activision's shares rose close to 4 percent in after-hours trade, before settling little changed.
Are China's national accounts accurate, or is it manufacturing GDP statistics in order to support the idea that it is floating above the global recession? The latter is admittedly the most extreme answer to the questions that credible sources are raising concerning the legitimacy of China's GDP data. Whatever the explanation, these questions have troubling implications for U.S. investors.
* Q2 EPS ex-items 7 cts/shr
* Street view was for loss 2 cts, ex-items
* Q2 revenue $776.5 mln vs Street view $712.3 mln
* Sees Q3 revenue up 5-7 pct from Q2
* Shares up 8.6 pct (Adds executive and analyst comments, details from call, byline)
By Gabriel Madway
SAN FRANCISCO, Aug 6 (Reuters) - Graphics chipmaker Nvidia Corp (NVDA.O) posted better-than-expected results on improved product demand and set a current-quarter sales outlook above Wall Street expectations, and its shares rose 8.6 percent on Thursday.
Nvidia's core business is in consumer personal computers, a market that has proved healthier in the downturn than the one for PCs used by businesses.
The chip sector as a whole was stung by a steep falloff in PC purchases as the economy began to falter last year.
But Intel, the world's largest chipmaker, said last month it saw better-than-expected consumer demand for PCs and analysts expect launches this fall of new operating systems from Windows 7 and Apple to help boost sales.
"We're seeing strength pretty much across the board," Chief Executive Jen-Hsun Huang said on a conference call with analysts in response to a question about demand.
Nvidia expects sales for the current quarter to rise 5 to 7 percent sequentially to roughly $815 million to $830 million, well above the average Wall Street estimate of $765 million.
Nvidia also forecast gross margins rising by 36 to 38 percent for the October quarter.
"It's kind of what the stock needed to get to a higher level," said Wedbush Morgan analyst Patrick Wang.
"They're comfortable with giving better gross margin guidance, expenses are under control. They're seeing broad-based strength with relatively lean inventories."
Chief Financial Officer David White said told Reuters the enterprise business appeared to have bottomed out: "Some of the signals we're beginning to see now are evidence of signs of recovery in the second half of the year."
The latest China fun facts versus relentlessly upbeat official figures roundup comes with the help of reader Michael. First is that China has been reporting decent growth, with the latest release clocking in at 7.9%. That is an interesting figure in and of itself, since the government has said that anything below 8% would result in an inability to absorb new workers, meaning rising unemployment. And some a bit closer to the situation, like Marc Faber in Singapore, contend that China is growing only at 2%.
Other sightings seem to bear out the Faber view. First is that China is warning of a "grave" employment outlook:
China Tuesday warned of a "grave" situation in the jobs market with millions of graduates and migrant workers yet to find work as companies continue to struggle with the effects of the global slump...
"China's current employment situation is still grave and the pressure for job creation remains large," said Wang Yadong, a senior official at the Ministry of Human Resources and Social Security's employment section.
"To make things worse, the impact of the international financial crisis has not yet bottomed out and a lot of companies are still facing business difficulties, posing big unemployment risks," he told reporters.
Wang said around 147 million migrant workers had moved to cities for jobs by June but more than four million had yet to find one.
Moreover, three million university graduates, including those who had left last year, were still unemployed, he said.
China's urban registered unemployment rate stood at 4.3 percent in the second quarter, unchanged from the first three months and up from 4.2 percent at the end of 2008, Wang said.
Wang added that the government aimed to keep the rate below 4.6 percent this year.
However, the actual jobless figure may be much bigger than the official rate, which does not include migrant workers and university graduates.
[...]
Next are the "be careful what you wish for" policies. China took very aggressive measures to pump up bank lending, with the result that a fair bit went into the stock market, producing what looks like a bubble. Now the authorities are trying to contain it. So now banks are slowing their new lending. From Cajing:
China's big state-owned commercial banks extended around 168 billion yuan worth of new loans in July, down sharply from the 497 billion issued in June, banking sources told Caijing on August 4.
The sharp decline in lending signals the effectiveness of the central bank's "fine tuning." While officially maintaining a "moderately loose" monetary policy, the People's Bank of China and other regulators have been informally warning commercial banks to maintain the integrity of the credit evaluation process and have penalized aggressive lenders by requiring them to purchase billions of yuan worth of bills.