Stocks To Turn Higher
Stocks appear headed higher Tuesday,
despite a report of lower than expected first-quarter productivity. The
government reported Q1 productivity declined 0.1% vs. an expected increase of
0.1%.
Dell Computer
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PowerRating) was trading
higher in pre-opening trade Tuesday after the company said it would meet its
lowered earnings guidance for Q1. Overnight, Dell said it would deliver $8
billion in revenue and 17 cents in earnings per share for the first quarter
Cisco
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PowerRating) is set to report
quarterly results after markets close Tuesday. Wall Street expects a profit of 2
cents a share. The key, however, will be the company’s guidance for the second
half of the year.
Micro General
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PowerRating), a provider
of real estate software, reported a Q1 profit of 19 cents a share vs. a loss of
13 cents a diluted share a year ago. Revenue increased 69% to $34.6 million.
Comcast
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PowerRating) reported
earnings of $1.04 a share in the first quarter vs. 24 cents a year ago.
Stripping out the effect of accounting changes, earnings were 64 cents a share.
Legg Mason
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PowerRating) reported net income
of 55 cents a share for March 31 four quarter, down from 75 cents a year
ago and give cents below estimates. The company blamed the recent bear market,
which slashed trading volumes and commissions at its brokerage operations.
Cephalon
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PowerRating) Tuesday posted a
narrower first-quarter loss as revenue more than doubled. The pharmaceutical
firm booked a loss of 28 cents a share vs. a loss of 37 cents a year. Including
the impact of an accounting change, the year-ago loss was 56 cents per share.
Revenue jumped to $47 million from $19 million.