This Semi Boosted Its Earnings By 200%
Stocks
are higher after 5 days of sell-offs.
Semtech
(
SMTC |
Quote |
Chart |
News |
PowerRating) reported a profit
of $12.5 million for the fourth quarter, a 201% net increase from the year-ago
period. Net sales rose 24% to $55.4 million. Rambus
(
RMBS |
Quote |
Chart |
News |
PowerRating) got a
lift after Judge Stephen McGuire rejected the government’s case, concluding that
RMBS did not illegally monopolize key computer chip technologies. Distributor
Ingram Micro
(
IM |
Quote |
Chart |
News |
PowerRating) announced $46.4 million profits on revenue of $6.76
billion, with 15% lower operating expenses at $282.3 million.
H&R Block
(
HRB |
Quote |
Chart |
News |
PowerRating)
reported earnings of $106.7 million, with $17 million from mortgage asset sales.
Revenue for the third quarter rose to $977.2 million. HRB reaffirmed full-year
earnings at $3.70 a share with a growth rate of 12%. Alan Greenspan recommended
that Congress deal with the massive fiscal deficit by cutting future social
security benefits.
| Dow | 26.03 | 10592.37 |
| S&P 500 |
+2.64 | 1141.71 |
| Nasdaq | +8.97 | 2014.46 |
The day’s leading sectors are
Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) +1.84%, Disk Drives
(
DDX.X |
Quote |
Chart |
News |
PowerRating) +1.74%,
Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +1.26%, and Hardware
(
GHA.X |
Quote |
Chart |
News |
PowerRating) +0.90%.
Weak today are Gold and
Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -2.50%, and Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating)
-2.44%.
Economic news releases included
lower existing home sales at 6.04 million.
10-year Notes are +35
at 115 050
The dollar
is +1.17 at 87.40
Gold is -9.50 at 395.30
Crude Oil is +1.07 at
35.65
The uuro
is -1.28 at 125.52
Volume is 630,000,000 on
the NYSE, and 863,000,000 on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1715 | Up Vol 369 |
| Declining | 1409 | Down Vol 243 |
| Ratio | 1.21 | 1.56 |
| Nasdaq | ||
| Advancing | 1614 | Up Vol 565 |
| Declining | 1412 | Dow Vol 275 |
| Ratio | 1.14 | 2.07 |
Top Dow stocks are:
Eastman Kodak [EK|EK],
+1.37% at 28.79, McDonalds
(
MCD |
Quote |
Chart |
News |
PowerRating), +1.28% at 27.98, Boeing [BA|IBA]
+1.19% at 43.76, and United Tech [UTX|UTX],
+1.02% at 92.81.
Stocks in the news:
Jeweler Tiffany
(
TIF |
Quote |
Chart |
News |
PowerRating) reported
higher earnings of $110.4 million on a 18% rise revenue to $731.6
million. Strong holiday sales contributed to the positive numbers.
United Rentals
(
URI |
Quote |
Chart |
News |
PowerRating) reported
earnings of 15 cents a share, missing expectations by a penny from higher
operating costs on continued weakness in demand. Revenue rose to $742 million
with equipment utilization at 58.3%.
Kimberly Clark
(
KMB |
Quote |
Chart |
News |
PowerRating) may spin off
its paper products business to create a new company with about $650 million in
annual sales.