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Archive for October, 2010

FA Notes Friday October 29, 2010

October 29th, 2010 No comments

8:14 FTNT IBM – According to Bloomberg Fortinet has been approached by IBM as a take-over target. Link

4:13 NFLX OPEN – Whitney Tilson explains why he’s short Netflix and OpenTable. Link

11:21 CNN reporting that UPS cargo flight from Yemen to Chicago stopped in London due to ink toner cartridge bomb discovery.

9:55 October University of Michigan consumer sentiment 67.7 vs. 68 estimate and 67.9 prior.

9:46 October Chicago PMI 60.6 vs. 58.0 estimate.

9:19 MRK – Merck reported Q3 earnings of 85c vs. 82c estimate and revenue of $11.13B vs. $11.24B estimate. The company guided FY10 earnings to $3.31-3.39 vs. $3.36 estimate and revenue to $45.4-46.1B vs. $45.6B estimate.

9:17 NDAQ – Nasdaq reported Q3 earnings of 50c vs. 46c estimate and revenue of $372M vs. $370M estimate.

9:09 NWL – Newell Rubbermaid reported Q3 earnings of 42c vs. 41c estimate and revenue of $1.49B vs. $1.5B estimate. The company reaffirmed FY outlook of $1.40-1.50 vs. 1.50 estimate.

9:05 Taiwan smart-phone maker HTC says Q4 revenue will hit $3.3B and shipments to “more than double to 9 million units.” Link

9:03 Digitimes reports that DRAM prices keep falling in late October. Link

8:31 Q3 GDP 2.0% vs. 2.0% estimate

8:26 TTWO – Take-Two announces its CEO, Ben Feder, has decided to step down to travel with his family in Asia for an extended period. Link

7:49 VZ – Verizon Wireless launches new smartphone data plans. Unlimited stays at $29.99, but you can now also opt for a new 150MB $14.99 plan. Link

7:47 Interview with Caterina Fake, the founder of Flickr. Link

7:42 SNE – Sony guided net income for its March FY to 70B yen vs. 60B previous guidance and revenue to 7.4T yen vs. 7.6T previous guidance. Link

7:38 ASUS plans to launch a number of 7″, 10″, and 12″ tablets in early 2011 to compete with the Apple iPad. Link

7:35 Samsung Electronics reported Q3 net income of 4.46T won in-line with estimates. The company said profit growth would slow in Q4 and anticipates severe price competition in TV prices the rest of the year. A glut of memory chip supply and lower LCD display pricing is also hurting results. Link

7:28 Honda reported Q2 net income of 135.9B yen in-line with estimates. Revenue in North America grew 13.6%, 16.1% in Japan, and fell 26% in Europe. Link

7:26 Panasonic reported a net profit of 31B yen in Q2 vs. 34.71B estimate. The company reiterated its full year net profit forecast of 85B yen and revenue of 8.9T yen.

Categories: News

FA Notes Thursday October 28, 2010

October 28th, 2010 No comments

9:22 Japanese industrial production for September came in at -1.9% vs. -0.6% estimate. Link

6:58 FA updated jobless claims charts. Things are looking better for now. Link

6:46 MSFT – Microsoft sold $350M worth of the Halo Reach videogame in its first 16 days. Link

6:40 VXX – Barclays announces 1 for 4 reverse split of iPath S&P 500 VIX Short-Term Futures Exchange Traded Notes. Link

6:33 DECK – Deckers Outdoor reports Q3 earnings of $1.07 vs. 93c estimate and revenue of $277.9M vs. $265M estimate. The company guides Q4 earnings to 8% growth and revenue to 8% growth.

6:31 MSFT – Microsoft reports Q1 earnings of 62c vs. 55c estimate and revenue of $16.2B vs. $15.8B estimate.

6:29 VPRT – Vistaprint reports Q1 earnings of 36c vs. 31c estimate and revenue of $170.5M vs. $163.2M estimate. The company guides Q2 earnings to 69-80c vs. 74c estimate and revenue to $210-230M vs. $219M estimate.

6:28 EXPE – Expedia reports Q3 earnings of 66c vs. 58c estimate and revenue of $987.8M vs. $944M estimate.

6:24 CSTR – Coinstar reports Q3 earnings of 66c vs. 50c estimate and revenue of $380.2M vs. $381.8M estimate. The company guides Q4 to 79-85c vs. 76c estimate and revenue to $415-440M vs. $422.9M estimate. FY2011 guidance is $3.00-3.50 vs. $2.87 estimate and revenue of $1.8-1.95B vs. $1.8B estimate.

3:44 STX – Bloomberg reports KKR is considering leaving Seagate bidding group. Link

1:56 HAL – Bloomberg reports that Halliburton knew the seal was unstable in the weeks before the blow-out of the BP well. Link

1:53 Bright Side News says the Seagate buy-out deal broke down. Link

1:39 The latest AAII Investor Sentiment survey. Link

12:25 MCP REE – China decides to end rare earth embargo. Link

11:54 REMX – More details on the components of the rare earth ETF. Link

11:18 REMX – Rare earth ETF begins trading today. Link

11:16 The Fed bought $1.66B of treasuries maturing 2013 to 2014. Link

11:08 SVR – Carlyle Group acquires Syniverse Holdings for $31 a share.

8:55 Weekly jobless claims 434K vs. 455K estimate.

7:25 MOT – Motorola reports Q3 earnings of 16c vs. 11c estimate and revenue of $5.8B vs. $5.7B estimate. The company guides Q4 to 14-16c vs. 15c estimate.

6:58 NTDOY – Nintendo reports a net loss of $25M in the first half of its fiscal year (April-September) due to the strength of the yen and -34% revenue growth y/y.

6:45 Strayer Education reports Q3 earnings of $1.72 vs. $1.70 estimate and revenue of $147.6M vs. $145.9M estimate. The company guides Q4 earnings to $2.64-2.66 vs. $2.99 estimate and FY2011 earnings to $11.30-11.50 vs. $12.06 estimate.

6:16 POT – Potash reports Q3 earnings of $1.32 vs. $1.16 estimate and revenue of $1.57B vs. $1.31B estimate. The company guides FY2010 earnings to $5.75-6.00 vs. $5.62 estimate and FY2011 earnings to $8.00-8.75 vs. $7.99 estimate.

6:12 E Ink chairman says global sales of e-book readers to be 20-25 million units in 2011. Link

6:11 Taiwan notebook shipments to grow 3.3% in Q4 2010. Link

5:53 Fed asks dealers to estimate size and impact of QE purchases. Link

Categories: News

FA Notes Wednesday October 27, 2010

October 27th, 2010 No comments

9:51 Walt Mossberg reviews the new Macbook Airs. Link

9:45 Rising Yuan is hurting Chinese exporters. Link

9:28 Paul Tudor Jones in his latest investor letter predicts a 1999 type bull market move in the coming months due to the liquidity of QE2. He recommends emerging market consumer stocks, India, gold, copper, grains, and 10 year treasuries.

9:23 Obama says Larry Summers die ‘a Heckuva Job’ Link

9:09 Tiger Asia Management receives a subpoena from the SEC. Link

8:06 JPM HBC – Two lawsuits were filed against JP Morgan and HSBC for manipulation of silver futures. Link

7:55 SEC is about to ban brokers from allowing naked sponsor access trading to exchanges. Link

7:44 WAG – Walgreens is now selling a $100 Android tablet. Link

4:38 LVS – Las Vegas Sands reported Q3 earnings of 34c vs. 23c estimate and revenue of $1.91B vs. $1.79B estimate.

4:36 IRBT – IRobot reported Q3 earnings of 18c vs. 7c estimate and revenue of $94.2M vs. $94.8M estimate. The company guided Q4 earnings to 10-12c vs. 6c estimate and revenue to $108-113M vs. $101.9M estimate.

4:35 SKX – Skechers reported Q3 earnings of 74c vs. $1.02 estimate and revenue of $554.6M vs. $572.2M estimate.

4:33 AKAM – Akamai reported Q3 earnings of 34c vs. 34c estimate and revenue of $253.6M vs. $249.7M estimate.

4:30 SYMC – Symantec reported Q2 earnings of 34c vs. 28c estimate and revenue of $1.48B vs. $1.46B estimate. The company guided Q3 earnings to 32-33c vs. 32c estimate and revenue to $1.57-1.59B vs. $1.56B estimate.

4:28 V – Visa reported Q4 earnings of 95c vs. 95c estimate and revenue of $2.12B vs. $2.09B estimate. The company guided FY2011 EPS growth to 20% y/y and revenue growth to 11-15% y/y.

3:06 Whitney Tilson’s largest shorts and longs in his hedge-fund. Link

2:38 HPQ – Reports that six new Palm devices coming in 2011. Link

12:55 Interview with Zappos and LinkExchange entrepreneur Tony Hsieh. Link

12:35 Paul Tudor Jones latest investor letter text. Link

10:01 September new home sales 307K vs. 300K estimate.

8:38 September durable goods orders +3.3% vs. +1.8% est. Ex-transportation -0.8% vs. +0.2% estimate.

Categories: News

FA Notes Tuesday October 26, 2010

October 26th, 2010 No comments

11:56 BWLD – Buffalo Wild Wings reported Q3 earnings of 47c vs. 44c estimate and revenue of $151.3M vs. $150.65M estimate.

11:53 NTGR – Netgear reported Q3 earnings of 45c vs. 38c estimate and revenue of $236M vs. $222M estimate. The company guided Q4 revenues to $240-250M vs. $239.4M estimate.

11:52 BRCM – Broadcom reported Q3 earnings of 74c vs. 71c estimate and revenue of $1.8B vs. $1.75B estimate. The company guided Q4 revenue to $1.8-1.9B vs. $1.75B estimate.

11:47 FFIV – F5 Networks reported Q4 earnings of 79c vs. 71 estimate and revenue of $254M vs. $248M estimate. The company guided next quarter’s earnings to 80-82c vs. 73c estimate and revenue to $265-270M vs. $259.5M estimate.

10:09 BKS – Barnes and Noble unveils color Nook e-reader for $249. Link

9:52 AAPL – Apple in negotiations to buy music streaming company Spotify. Link

9:47 AAPL – Apple will delay the white iPhone 4 till the Spring. Link

9:46 INTC – Intel going to publish its own journalism. Link

9:45 SNE – Sony Playstation phone and specs. Link

9:16 WSJ says Fed likely to do “few hundred billion” of QE over several months. Link

1:48 China hiked gas prices by 3%. Link

1:03 Paul Tudor Jones says Chinese currency revaluation works better than quantitative easing. Link

12:38 SPY – Warren Buffett’s favorite market valuation indicator. Link

11:34 Fed bought $2.5 billion of 10-30 year treasury bonds this morning. Link

10:36 CMI – Cummings reported Q3 earnings of $1.33 vs. $1.40 estimate and revenue of $3.4B vs. $3.56B estimate.

10:35 LXK – Lexmark reported Q3 earnings of $1.09 vs. 97c estimate and revenue of $1.02B vs. $1.04B estimate. The company guided Q4 earnings to $1.03-1.13 vs. $1.01 estimate.

10:34 AMTD – TD Ameritrade reported Q4 earnings of 20c vs. 23c estimate and revenue of $609M vs. $619M estimate. The company guides 2011 earnings to $0.90-1.20 vs. $1.14 estimate.

10:33 COH – Coach reported Q1 earnings of 63c vs. 55c estimate and revenue of $912M vs. $845M estimate.

10:32 IBM – IBM announce $10B in additional stock buy-back. Link

10:13 UA – Under Armour reported Q3 earnings of 63c vs. 60c estimate and revenue of $328.6M vs. $322M estimate. The company guided full year earnings to $1.23-1.24 vs. $1.17 estimate and revenue to $1.03-1.035B vs. $1.02B estimate.

10:02 August FHFA home price index +0.4% vs. -0.5% in July

10:01 October consumer confidence 50.2 vs. 50 estimate

9:03 August Case-Shiller 1.7% vs. 3.18% previously

8:45 Volcker sees no possibility of deflation. Link

8:39 Fortune on the background of Todd Combs. Link

8:36 Paul Krugman likes dollar debasing policy. Link

8:32 STX WDC – Digitimes reports of large capacity notebook hard-drive shortages. Link

8:16 ERTS – According to Bloomger, Zynga is now worth more than Electronic Arts. Link

7:49 AAPL SNE – Sony trades higher on Apple take-out rumors. Link

7:47 Andrew Ross Sorkin on “What is insider trading?” Link

7:39 Todd Combs is now heir apparent with the “best chance” to be Warren Buffett’s successor. According to our sources, Combs’ fund Castle Point was up 34% net since inception on November 2005. Link

7:36 Kingdon Capital investor relations person gets fired and burns bridges. Link

Categories: News

FA Notes Monday October 25, 2010

October 25th, 2010 No comments

4:32 TXN – Texas Instruments reported Q3 earnings of 71c vs. 69c estimate and revenue of $3.74B vs. $3.69B estimate. The company guided Q4 earnings to 59-67c vs. 63c estimate and revenue to $3.36-3.64B vs. $3.51B estimate.

3:24 Large trucks in the U.S. must cut emissions by 20% by 2018. Link

2:08 Treasury TIPS sold at a negative yield. Link

12:05 SVNT – Auction process did not result in the sale of the company. Link

11:48 SNDK AAPL – Should Apple buy Sandisk? Link

10:46 The SP500 out-performs on Fed permanent open market operation days. Link

10:29 DBA – USDA says food inflation will accelerate to 2-3% in 2011. Link

10:00 September existing home sales 4.53M vs. 4.3M estimate, +10% m/m.

8:36 Ben Bernanke speech on housing. Link

7:57 ADBE AAPL – According to the Inquirer, Apple has decided not to pre-install Adobe Flash on their computers. Link

7:46 Goldman Sachs says the Fed may purchase up to $2 trillion of assets in QE2. Link

7:23 CTV – CommScope confirms it is in talks with The Carlyle Group to be taken private at $31.50/share in cash. Link

7:21 Patrick Degorce, ex-TCI co-founder, raises $700M for his new hedge-fund. Link

7:20 Blackrock likes copper and iron due to Chinese demand. Link

7:17 The Globe and Mail writes an interesting profile on Bill Gross of PIMCO. Link

7:13 RSH – Radioshack reported Q3 earnings of 37c vs. 35c estimate and revenue of $1.05B vs. $1.04B estimate.

7:12 SOHU – Sohu.com reported Q3 earnings of $1.16 vs. 90c estimate and revenue of $164.1M vs. $156.8M estimate. The company guided Q4 earnings to $1.10-1.15 vs. 95c estimate and revenue to $163-168 vs. $162.6M estimate.

6:49 NTDOY – Nintendo says Apple is a bigger threat than Microsoft. Link

6:46 SNE – Sony cuts the price of the PSPgo from $249 to $199. Link

Categories: News

FA Notes Friday October 22, 2010

October 22nd, 2010 No comments

9:58 CMG – FA updated financial model with key metrics charts. Link

9:48 NFLX – FA updated financial model with key metrics charts. Link

9:46 AMZN – FA updated financial model with key metrics charts. Link

5:25 UPS – UPS expects holiday volume to be up 7.5% y/y. The last two years were 0% and -4% respectively. Link

5:22 HPQ – HP unveiled their Slate 500 tablet. It has a 8.9 inch screen and will cost $800. It will run Windows 7. Link

5:21 Clear Capital says there was a 5.9% drop in national home prices over the last 2 months. Link

5:19 APOL – Apollo announced they received notice from the Attorney General of Florida that the State has started an investigation of possible unfair and deceptive trade practices committed by the University of Phoenix. Link

5:02 AMZN – Amazon to add 14-day lending feature to the Kindle. Link

4:50 Citigroup’s analysts said they expect the Fed to hold rates at 0% until inflation (PCE) hits 2%. They also expect $500-700B worth of QE to be announced at the November 2-3rd policy meeting at a monthly clip of $100B. Link

2:02 MSFT – Microsoft confirms the closing down of ad firm Massive after spending $200-400M for it 4 years ago. Link

1:44 NFLX – Netflix accounts for up to 20% of downstream internet traffic during peak evening hours. Link

11:29 VZ – Verizon reports Q3 earnings of 56c vs. 54c estimate and revenue of $26.48B vs. $26.34B estimate. The company guides Q4 earnings to 50-55c vs. 54c estimate.

8:37 NVDA – According to Taiwan-based card markers, Nvidia cut prices on the GTX 460 and 470 by 12.6 to 25.8%. Link

Categories: News

FA Notes Thursday October 21, 2010

October 21st, 2010 No comments

7:57 GOOG – Major TV networks are blocking access from Google TV to their TV shows on the internet. Link

7:49 CMG – Chipotle Mexican Grill reports Q3 earnings of $1.52 vs. $1.30 estimate and revenue of $476.9M vs. $461.2M estimate.

7:15 Bridgewater Associates is up 38% YTD in its flagship fund, a $15 billion gain. The firm was long treasuries, long yen, and long gold. Source: WSJ

7:12 BAC – John Paulson told investors today he has lowered his 2012 earnings estimate for Bank of America to $2.66 EPS from $3 before. Link

7:11 NFLX – Netflix suffered a prolonged service outage today. Link

5:40 BIDU – Baidu reports Q3 earnings of 46c vs. 41c estimate and revenue of $337.2M vs. $333.3M estimate. The company guides Q4 revenue to $354.2-364.7M vs. $348.5M estimate.

5:36 SNDK – SanDisk reports Q3 earnings of 1.30 vs. 1.05 estimate and revenue of $1.23B vs. $1.24B. Q3 gross margin came in at 51.8%. The company guides Q4 revenue to $1.25-1.325 vs. $1.36B estimate and gross margin to 43-46%.

5:19 AMZN – Amazon.com reports Q3 earnings of 51c vs. 48c estimate and revenue of $7.56B vs. $7.35B estimate. Q3 operating income is $268M vs. $289M estimate. The company guides Q4 revenue to $12-13.3B vs. $12.3B estimate and operating income to $360-560M vs. $615M estimate.

3:32 SNE – Sony says it has shipped 1 million units of its Move motion controller to North America and Latin America during its first month since launch. “Sales are brisk.” Link

3:28 Fed’s Bullard favors a $100B a month quantitative ease plan. Link

2:09 T – AT&T reports Q3 earnings of 55c vs. 55c estimate and revenue of $31.6B vs. $31.23B estimate. The company activated 5.2M iPhones.

2:01 CAT – Caterpillar reports Q3 earnings of $1.22 vs. $1.09 estimate and revenue of $11.13B vs. $10.48B estimate. The company guided 2010 earnings to $3.80-4.00 vs. $3.71 estimate and revenue to $41-42B vs. $39.66B estimate.

1:43 FCX – Freeport-McMoran reports Q3 earnings of $2.49 vs. $2.12 estimate and revenue of $5.15B vs. $4.63B estimate.

1:37 Federal Housing Financing Agency says Fannie and Freddie may cost the tax payer $363 billion in losses. Link

1:34 DVD purchases down 16% y/y in first 9 months of 2010. Link

1:31 NFLX – FA updated model. Link

1:00 GS – A team of Goldman’s prop traders are being hired by KKR. Link

12:58 GGP – The last objections to General Growth Properties restructuring plan have been resolved. The planned exit date is November 8th. Link

12:53 Hedge-funds are long commodities, long 10 year treasuries, and long oil. Link

10:03 Philadelphia Fed 1.0 vs. 1.0 estimate.

10:02 September leading indicators 0.3% vs. 0.3% estimate.

9:11 NOK – Nokia reports Q3 earnings of 14c euro vs. 10c estimate and revenue of $10.3B euro vs. $10.0B estimate.

9:01 MCD – McDonald’s reports Q3 earnings of $1.29 vs. $1.24 estimate and revenue of $6.3B vs. $6.21B estimate.

8:56 UPS – UPS reports Q3 earnings of 93c vs. 88c estimate and revenue of $12.19B vs. $12.38B estimate. The company guides 2010 earnings to $3.48-3.54 vs. $3.44 estimate.

8:50 CRUS – Cirrus Logic reports Q2 of 40c vs. 42c estimate and revenue of $100.6M vs. $101.3M estimate. The company guides Q3 revenue to $88-94M vs. $99.1M estimate.

8:31 Jobless claims 452K vs. 455K estimate. Last week was revised to 475K from 462K.

8:26 GOOG – Early impressions of Google TV. Link

8:20 GOOG – Google used offshore tax loop-holes to cut its taxes by $3.1 billion the last three years. Link

8:09 GS – Goldman Sachs is looking to repay Buffett’s $5 billion cash injection given at the height of the financial crisis. Link

8:06 TM – Toyota is recalling 1.53 million Lexus and Avalon cars due to brake fluid and fuel pump problems. Link

Categories: News

FA Notes Wednesday October 20, 2010

October 20th, 2010 No comments

10:34 NVDA – HardOCP is hearing that Nvidia will cut prices on the GTX 460 and 470 this week. Link

10:28 China’s economy grew 9.6% in Q3 and CPI was up 3.6%. Link

9:37 Treasury Secretary Tim Geithner is quoted as saying the U.S. is not deliberately devaluing the dollar and he sees no need for the dollar to sink further. Link

9:06 NYT – Boston Globe reports a group of investors will offer to buy the Boston Globe newspaper from its owner, The New York Times. Link

9:04 STX – Seagate reports Q1 EPS of 37c vs. 45c estimate and revenue of $2.7B vs. $2.7B estimate.

5:44 NFLX – Netflix report Q3 GAAP EPS of 70c vs. 72c street estimate and revenue of $553.2M vs. $551M estimate. The company guides Q4 GAAP EPS to 59-74c vs. 71c street estimate and revenue to $586-598M vs. $593M estimate. Q3 total subs 16.9M and Q4 total subs guidance 19-19.7M.

5:42 XLNX – Xilinx reports Q2 EPS of 65c vs. 65c estimate and revenue of $620M vs. $626M estimate. The company guides Q3 to flat to down 4% q/q.

5:37 EBAY – eBay reports Q3 EPS of 40c vs. 37c estimate and revenue of $2.2B vs. $2.18B estimate. The company guides Q4 earnings to 45-48c vs. 44c estimate and revenue to $2.39-2.49B vs. $2.41B estimate.

4:39 NFLX – Streaming only option may come to the United States later this quarter. Link

1:50 ERTS – Electronic Arts buys Angry Birds iPhone game publisher for less than $20 million in cash. Link

12:03 AAPL – Acer says iPad impact isn’t that serious. Link

10:07 AAPL – Dealbook speculates on Apple’s acquisition targets. Link

9:52 Latest views from Jim Rogers. Link

9:14 DAL reported Q3 earnings of $1.10 vs. 94c estimate and revenue of $9B vs. $8.82B estimate.

“Delta’s revenue performance exceeded our expectations for the quarter, with especially strong performance from our international markets,” said Ed Bastian, Delta’s president. “We see demand strength through the holiday period and expect solid year over year unit revenue growth for the December quarter.”

9:02 How can you tell when a CEO is lying? Link

8:21 WFC – Wells Fargo reported Q3 earnings of 60c vs. 55c estimate and revenue of $20.9B vs. $20.95B estimate.

8:20 MS – Morgan Stanley reported Q3 earnings of 5c vs. 15c estimate and revenue of $6.8B vs. $6.44B estimate.

Categories: News

FA Notes Tuesday October 19, 2010

October 19th, 2010 No comments

7:53 GLD – Bank of Japan governor, Masaaki Shirakawa, says more quantitative easing if economy deteriorates. Link

5:40 MCP – China now halting some rare-earth shipments to the United States. Link

5:03 HPQ – Engadget reviews webOS 2.0. Link

4:44 BAC – Bank of America response according to CNBC. “We’re not responsible for the poor performance of loans as a result of a bad economy. We don’t believe we’ve breached our obligations as a servicer. We will examine every avenue to vigorously defend ourselves.”

4:28 ALTR – Altera reports Q3 earnings of 69c vs. 65c estimate and revenue $527.5M vs. $526M estimate. The company guides Q4 revenue +3-6% q/q.

4:26 ISRG – Intuitive Surgical reports Q3 earnings of $2.14 vs. $2.10 estimate and revenue of $344M vs. $349.5M.

4:24 JNPR – Juniper Networks reports Q3 of 32c vs. 32c estimate and revenue of $1.01B vs. $1.02B estimate.

4:19 WDC – Western Digital reports Q1 earnings of 84c vs. 81c and revenue of $2.4B vs. $2.35B estimate.

4:15 YHOO – Yahoo reports Q3 earnings 16c vs. 15c estimate and revenue of $1.12B vs. $1.13B estimate. The company guides Q4 revenue to $1.125-1.225B vs. $1.26B estimate.

4:12 CREE – Cree reports Q1 earnings of 60c vs. 58c estimate and revenue of $268M vs. $278M estimate. The company guides Q2 earnings to 56-60c vs. 60c estimate and revenue to $270-280M vs. $297M estimate.

3:32 HPQ – HP introduces webOS 2.0. Link

3:30 VZ – Verizon Wireless is going to offer a $15/month smart-phone data plan with 150MB of usage. Link

3:26 NOK – Gizmodo is not reviewing Nokia’s latest smartphone, the N8, because it is irrelevant. Link

3:24 Dallas Fed Richard Fisher says the outcome of the next Fed meeting “is yet to be determined.” Link

3:01 ERTS – Electronic Arts says Medal of Honor has sold 1.5 million units in its first five days since launch. Link

2:09 BAC – Headlines crossing that New York Fed, PIMCO, and Blackrock looking for force Bank of America to repurchase $47B of mortgage bonds according to Bloomberg.

1:03 NYTimes write about empty cities in China. Link

8:38 September housing starts 610K vs. 579K estimate. September building permits 539K vs. 565K estimate.

8:28 BAC – Bank of America reports Q3 earnings of 27c vs. 16c estimate and revenue of $27B vs. $27.15B estimate.

8:27 HOG – Harley Davidson reports Q3 earnings of 40c vs. 35c estimate and revenue of $1.1B vs. $1.1B estimate.

8:26 EMC – EMC reports Q3 earnings of 30c vs. 30c estimate and revenue of $4.2B vs. $4.2B estimate.

8:25 KO – Coca-Cola reports Q3 earnings of 92c vs. 89c estimate and revenue of $8.4B vs. $8.3B estimate.

8:24 JNJ – Johnson and Johnson reports Q3 earnings of $1.23 vs. $1.16 estimate and revenue of $15.0B vs. $15.2B estimate.

8:10 GS – Goldman Sachs reports Q3 earnings of 2.98 vs. 2.28 estimate and revenue of $8.9B vs. $7.9B estimate.

8:01 GS – Ex-Goldman trader raises over $1 billion for his hedge-fund. Link

7:40 China has decided to raise interest rates by 25bps effective tomorrow. Link

“It said it would raise benchmark one-year deposit and lending rates by 25 basis points each to 2.5 percent and 5.56 percent, respectively.”

Categories: News

FA Notes Monday October 18, 2010

October 18th, 2010 No comments

5:38 MSFT – Microsoft’s chief software architect Ray Ozzie will resign. Link

5:24 VMW – VMware reported Q3 earnings of 39c vs. 35c estimate and revenue of $714M vs. $698M estimate. The company guides Q4 revenue to $790-810M vs. $774M estimate.

5:13 IBM – IBM reported Q4 earnings of 2.82 vs. 2.75 estimate and revenue of $24.3B vs. $24.12B estimate. The company guided FY2010 EPS to “at least 11.40.”

“Services revenue up 2 percent, as reported and adjusting for currency; Services backlog of $134 billion, up $5 billion quarter to quarter, down $2 billion adjusting for currency, and flat year over year.”

5:09 DIS – Disney pays off Paramount to buy rights to release Avengers and Iron Man 3. Link

4:52 AAPL – Apple reported Q4 earnings of 4.64 vs. 4.06 estimate and revenue of $20.34B vs. $18.86B estimate. The company guided Q1 earnings to 4.80 vs. 5.04 estimate and revenue to $23B vs. $22.22B estimate.

iPad units 4.19M vs. 4.7M estimate. iPhone units 14.1M (91% y/y) vs. 11.4M estimate. Mac units 3.89M (27% y/y) vs. 3.8M estimate. iPod units 9.05M (-11% y/y) vs. 9.5M estimate. Gross margin was 36.9% vs. 41.8% a year ago.

3:41 BAC – Bank of America plans to resume foreclosures in 23 states next week and re-file the paperwork for 102,000 cases. Link

2:13 CVC – News Corp. briefly over the weekend cut off Fox internet shows from Cablevision internet surfers. Link

12:59 President of Atlanta’s Fed, Dennis Lockhart, backs more quantitative easing and inflation targeting. LinkWSJ Link

12:32 TLT – China was a net buyer of treasuries in August. China’s treasury holdings increased $21.7B to $868.4B. Japan was also a net buyer and owns $836.6B. Link

11:50 Report that T-Mobile will launch a $9.99 month smart-phone data plan good for up to 200 megabytes of usage. Link

11:46 Valve software’s Steam platform has hit 30 million accounts, +178% y/y. Steam now has 1200 games and 3 million max concurrent users. Revenue is up 200% y/y, the sixth straight year of 100%+ growth. Link

11:42 TLT – List of exact amounts and what specific bonds the Fed bought today. Looks like the Fed focusing on 7 year bonds. Link

11:37 LULU – Lululemon bears come out of the wood work over the weekend in Barrons. Whitney Tilson says, “Companies such as Prana, Gaiam, Athleta, Lucy and even big names like Adidas have all jumped into the business. Lululemon, basically is selling a $1 piece of spandex for $100. Target’s Icon Women’s Yoga Pant costs $19.99.” Link

11:35 TTWO – Take-Two executive says “we are reporting good results” on Bloomberg TV. Link

11:33 INTC – Intel cuts prices on some processors. PDF

11:15 TLT – Fed bought $6.26 billion of Treasuries today. Link

11:13 JCP – J.C. Penney adopts a poison pill plan after Bill Ackman’s recent large purchases in the company. Link

10:45 GLD – An interview with Eric Sprott of Sprott Asset Management. Link

10:38 Goldman says the average 12-month gain for the stock market after a “change over” mid-term election since 1950 is 11%. Link

10:00 US NAHB October housing index 16 vs. 13 in September.

9:18 ISLN – NYPost reports EMC in talks to buy Isilon. Link

9:15 September industrial production -0.2% vs. 0.2% estimate.

9:00 GLD – South Korea central bank looking at gold. Link

8:55 NFLX – At least one sell-side analyst is still bearish on Netflix. Link

8:46 HAS – Hasbro reported Q3 EPS of $1.09 vs. $1.04 estimate and revenue of $1.31B vs. $1.29B estimate.

8:40 C – Citigroup reported Q3 EPS of 7c vs. 6c estimate and revenue of $20.7 billion vs. $21.15B estimate.

8:23 STX – WSJ reports Bain Capital mulling joining a private equity bid for Seagate that could be $10 to $12 billion. Link

Categories: News