FA Notes Friday October 29, 2010
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.