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- The Accelerator Conundrum
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Technology Stocks
Micron’s Misery
On December 23, Micron Technologies, with annual revenue of $5.8 billion, reported results for the first quarter of fiscal 2009. Results were mixed, with stronger-than-expected sales and a wider-than-expected loss as DRAM and NAND ASP declines outpaced cost reductions. >>>
3Com Excels in China
Amidst the gloomy economic background, there is a bright spot in the form of 3Com, a major networking player with annual revenue of $1.3 billion. Last month, on December 18, in its Q209 results, the company reported another strong quarter that beat estimates. This is the second consecutive quarter that 3Com has reported a profit and beat estimates. In my recent Networking Sector Overview, we explored how 3Com, with its Chinese cost structure, could give Cisco a run for its money. >>>
Outsourcing: View From Accenture
The New Year doesn’t seem to be bringing any cheer to the market. Though the $20 billion consulting giant, Accenture, continued to beat the market’s expectations with its Q1 results, the company lowered its outlook for the coming year. >>>
Paychex Reflects Dismal Broader Economic Outlook
Right before the holidays, on December 17, Paychex, the leading payroll and personnel services provider with annual revenue of $2.06 billion, reported second quarter earnings that fell below analyst expectations. But what is even more telling is the gloomy snapshot Paychex provides of the economy. Let’s take a closer look. >>>
Oracle Will Shop SaaS in 2009
Oracle (NASDAQ:ORCL) reported its Q209 results on December 18. Revenue was up 6% to $5.6 billion, missing analyst estimates of $5.84 billion. However, as the company cut costs aggressively across the board, non-GAAP EPS of $0.34 met analyst estimates for earnings. Operating margin improved 166 basis points to 35% versus 34% last year. GAAP net income was down 1% to $1.3 billion. >>>
Sector Overview: Handsets
An IDC report released last week said that the mobile phone market will slow down in 2009, with mobile phone volumes expected to decline 1.9% due to the global economic crisis. However, the converged device market is still expected to grow, although at a slower pace of 8.9% in 2009. IDC expects the handset market to recover by 2010, with the converged device market expected to return to 24% growth and mobile phones to about 5% growth. Let’s take a closer look. >>>
Adobe Delivers Solid Results
This Tuesday, Adobe Systems Incorporated (NASDAQ: ADBE), the leading maker of creative applications, reported its Q4 and FY08 results. Earnings matched the top end of the company’s lowered forecast from earlier this month. >>>
Sector Overview: Semiconductors
The atmosphere is gloomy in the semiconductor sector: preliminary findings from research firms Gartner and iSuppli show decline in chip sales of 4.4% and 2% respectively. Earlier TI, Broadcom, and NSM cut back their respective outlooks. And according to Gartner, 2009 is going to be worse than this year. But there is a silver lining for investors looking to buy: stocks of star performers like Qualcomm and Broadcom are going for very cheap. Let’s take a look. >>>