Electronic Arts (ERTS) Down Big on Guidance; Good Value Here
Video game publisher Electronic Arts just hasn’t been able to find its stride ever since the new game console units came out two years ago. They discounted the marketability of the Wii, leaving R&D woefully behind for the social phenomenon.
And their heralded franchise games (that flat-out print money every year) have failed to make up [...]
Interesting Reads on S&P Futures, Valuations
The major U.S. indexes are holding their ground again today after another weak lead-in from Asian and European markets. S&P futures foretold another weak day as they had on Friday, but on both occasions the futures seemed to be looking backward rather than ahead. An interesting Bloomberg piece from earlier today puts some statistics behind [...]
Amgen Answering the $30 Billion Riddle…Lean Towards Biotech (AMGN)
Amgen was a rare earnings bright spot yesterday, and was sporting a much more biotech look than we’ve seen from the company in some time. As Amgen handily beat top and bottom-line expectations, investors are left to decide if this company trading for 11x current year estimates deserves a multiple expansion that would put it [...]
Caterpillar reports $1.49 EPS, Sees Flat 2009
Earnings were a few pennies less than expected, but CEO Jim Owens confirmed the earlier target of $6.00 EPS for the full year, and sees “flat” sales results for 2009. As I expected, record sales outside the U.S. continued, while Owens notes that the U.S. and Europe are in “recessionary periods”.
Inside the Numbers
Machinery and Engine [...]
IBM Pre-Announces Strong Q3 - But Don’t Expect a Tech Sector Trend
It appears that there is a little life in Technology and Services, as IBM pre-announced 3rd quarter results above estimates Wednesday evening. Obviously management wants to stem the tide of losses hitting the stock in the past two weeks; shares are down nearly 23% in the month of October alone. In this market, the mantra [...]
Safeway Brings Some Sanity Back to Expectations (SWY)
Safeway (SWY) breaks the consumer ice by essentially hitting targets of $.47 EPS and $10.2B sales (versus consensus of $.45 and $10.1B). Revenues were up 4% year-over-year, about the same as net earnings. My earlier thesis for the grocer highlights why I think this is a stock to overweight in this environment, not underweight as [...]
Dell Reports Q2 Earnings; Who Thought This Would Turn Out Well?
There was a modest batch of semiconductor and consumer tech related companies reporting earnings today, with Dell (Nasdaq: DELL) being the feature tone-setter. They came in with a 3-cent miss (after backing out those pesky “business realignment” charges), saw gross margins drop 120 basis points sequentially, and investors are bracing themselves for [...]
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