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Earnings highlights: Google, KKR, Krispy Kreme, Williams-Sonoma, Guess? and more

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Google, KKR, Krispy Kreme, Williams-Sonoma, Guess? and more

Ciena lost money, missed expectations in Q2

Ciena (NASDAQ: CIEN), a business that sells various networking and software products for fiber-optic and broadband technologies, and whose colleagues include Cisco (NASDAQ: CSCO) and Alcatel-Lucent (NYSE: ALU), reported late Thursday a difficult second quarter. Revenues declined by 40%. For the bottom line, Ciena said it lost 25 cents per share on an adjusted basis. Last year at this time, Ciena made an adjusted 40 cents per share. And in terms of expectations, the company was only supposed to lose 9 cents per share. Guess there wasn't a chance of that, huh?

Continue reading Ciena lost money, missed expectations in Q2

Ciena knows broadband demand will grow later, if not sooner

The U.S. recession has hit just about every sector fairly hard, save health care; internet services have certainly not been immune.

Still, Wall Street has been known to overdo it somewhat on the downside, particularly when a growth play runs into a recession, and that's why Ciena Corp. (NASDAQ: CIEN) is worth a review.

Ciena supplies communications networking equipment, software and services to communications service providers, cable operators, governments and enterprises. The company specializes in helping organizations transition from old-world architectures to high-bandwidth services. Hence, CIEN is largely a broadband play, and now that it looks like better days are up ahead for the U.S. economy in a quarter or two, firms will begin to make the investments they need to stay competitive in a decidedly broadband world. The First Call F2009/F2010 EPS estimates for CIEN are a loss of 21 cents and a profit of 15 cents.

Continue reading Ciena knows broadband demand will grow later, if not sooner

ETF Stocks: Use BDH for a play on broadband technologies

topgoldThe old adage to new investors has always been to invest in something that you use or believe in. Right now, you're probably reading this online and there's a good chance you got online through a broadband connection, so why not invest in the companies that continue to supply equipment for the growth of the broadband revolution?

The exchange-traded fund (ETF) Broadband HOLDRs (NYSE: BDH) is a great way to invest in the broadband industry without having to select one company. BDH consists of about 22 companies that develop, manufacture and market products and services that facilitate the transmission of data, video and voice more quickly and efficiently than traditional telephone line communications.

Continue reading ETF Stocks: Use BDH for a play on broadband technologies

The week in preview: Early December earnings expectations

Even as the holiday season ramps up and the calendar quarter begins to wind down, earnings reports continue to dribble in. Among the companies scheduled to release quarterly results this coming week, analysts surveyed by Thomson Reuters are expecting BWAY Holding Co. (NYSE: BWY), Powell Industries Inc. (NASDAQ: POWL), and Esterline Technologies Corp. (NYSE: ESL) to be among the biggest earnings gainers.

Atlanta-based packaging and container producer BWAY is expected to report fiscal fourth-quarter profits that are 65.6% higher than in the same period of last year, or $0.32 per share on revenues of $265.2 million (+4.9%). BWAY topped estimates in the previous two quarters -- by 44.9% in the third quarter. Those results sent shares to a new 52-week high. But shares have fallen 62.7% in the past three months, and they are now trading near a multiyear low of $4.11 per share.

Houston-based energy equipment maker Powell is expected to report fiscal fourth-quarter profits that are 62.7% higher than a year ago, or $0.59 per share. Revenues are forecast to be 14.2% higher, or $171.8 million. Powell beat expectations in the past three quarters -- by 20.2% in the third quarter. The share price has fallen 47.7% in the past three months, and the consensus recommendation is to buy POWL.

Continue reading The week in preview: Early December earnings expectations

Before the bell: Futures higher ahead of election; BA, PEP, C, GM, MA, WMT, HAL, MOT, CSIQ ...

U.S. stock futures were somewhat higher Monday morning as investors put October -- one of the worst months ever -- behind them and braced for the impact of the presidential election. A slew of economic data will be released this week, including September construction spending and the October release of the ISM index due today after the market opens. Global stocks were generally higher even as oil slipped again.

PepsiCo Inc. (NYSE: PEP) said Monday it will invest $1 billion in China over the next four years. The beverage company wants to expand local manufacturing capability, research and development and sales force.

General Motors Corp. (NYSE: GM) -- the company has been in the process of trying to find a way to merge with Chrysler. While we didn't hear much about the merger so far from the United Auto Workers union, it seems
it intends to play a key part in it and has has retained an adviser to help with workers' concerns should the merger occur, the WSJ reported.

Boeing Co. (NYSE: BA) saw its 27,000 machinists resuming work Sunday after a 57-day strike that shut down production. Because of logistics, it will take several weeks before Boeing is running normally. The company missed at least 70 deliveries as a result of the strike. Seems it may miss more until production is properly under way. Boeing was downgraded to Conviction Sell from Neutral by Goldman Sachs, saying investors should sell into the strength from the resolution of the machinists union strike.

Continue reading Before the bell: Futures higher ahead of election; BA, PEP, C, GM, MA, WMT, HAL, MOT, CSIQ ...

Earnings highlights: Toll Bros., Take-Two, Tiffany, Staples, Kraft, Corning and others

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Also, Jim Cramer discusses a decline in earnings resulting from a collapse of oil and oil services.

Upcoming quarterly reports include Korn/Ferry (NYSE: KFY), Pep Boys (NYSE: PBY), Campbell Soup (NYSE: CPB), Krispy Kreme (NYSE: KKD), and Lululemon Athletica (NASDAQ: LULU).

Visit AOL Money & Finance for more earnings coverage.

Before the bell: Further declines; MER downgraded, SNDK may be bought, BA, DELL, MO ...

U.S. stock futures are pointing to further declines following a rough session where the Dow plunged 344 points and ahead of the jobs report mostly feared to show weakness in the labor market. Non-farm payroll is expected to show a job loss of 75,000 but the unemployment remain unchanged. Meanwhile, international markets sank following U.S. markets. Also affecting mood this morning is Goldman's call to sell Merrill Lynch.

Goldman Sachs downgraded Merrill Lynch & Co. (NYSE: MER) to Sell from Neutral and added the firm to its conviction sell list. MER stock is plunging 6.6% in pre-market trading. Goldman said valuation and the likelihood of further write-downs are the reasons. Goldman also lowered its third-quarter EPS forecast to a loss of $5.75 a share.

SanDisk (NASDAQ: SNDK) shares are shooting up 26% in pre-market trading after Samsung Electronics said it may buy the flash memory maker. There are no concrete announcements or details as to price yet.

And at Boeing (NYSE: BA), the company continues to negotiate with labor leaders to avert an expensive strike it cannot afford. Negotiators and mediators are trying to work to avert the strike voted for by the union during the 48 hour extension.

Continue reading Before the bell: Further declines; MER downgraded, SNDK may be bought, BA, DELL, MO ...

Closing Bell: Dow plunges amid grim economic news; AIG, CIEN, LM, TEX decline, WMT gains

Today could be blamed on many issues. No ECB rate cut, oil confusion, weak economic data, and more. But this is looking like wholesale de-leveraging across the board amid new credit concerns and tightening standards. Want to see what a bubble popping in commodities looks like? The sad part is that there are very few spots to hide out in, which is perhaps more symptomatic of a bear market. Here are the unofficial closing bell levels:
DJIA 11,185.63 (-347.25)
S&P500 1236.76 (-38.22)
NASDAQ 2259.04 (-74.69)
10YR T-Note 3.643% (-0.054%)
52-week lows
Top Analyst Upgrades
Top Analyst Downgrades

American International Group, Inc. (NYSE: AIG) may be testing out the waters to see how Wall Street reacts. There are reports that the insurance giant may spin-off its bad assets into a new high-risk company to get the assets off its books. Shares were down 6% right before the close.

Ciena Corporation (NASDAQ: CIEN) basically met earnings but it is seeing a slowdown and order delay from Tier One telecom and data carriers. It has now lowered revenue guidance to $190 to $210 million for its fiscal fourth quarter, far under the $263 million expected by analysts. Shares are down over 10% and at new 52-week lows.

Continue reading Closing Bell: Dow plunges amid grim economic news; AIG, CIEN, LM, TEX decline, WMT gains

Early analyst calls (Q) (CIEN) (LLY)

UBS downgraded SunPower (NASDAQ:SPWR) to Neutral from Buy, according to Briefing.com. The news service also reports that Citigroup upgraded Qwest (NYSE:Q) to Buy from Hold and Morgan Keegan upgraded Ciena (NASDAQ:CIEN) to Outperform from Market Perform.

Eli Lilly (NYSE:LLY) was raised to Neutral at HSBC, according to 24/7 Wall St. The financial site also reports that American Electric Power (NYSE:AEP) was cut to Neutral at JPMorgan.

Worst 10-year performers: Ciena Corporation's still waiting for that telecom turnaround

In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.

Among telecom stocks that got smacked during the past decade, Ciena Corporation (NASDAQ: CIEN) took the hardest hit -- at least, among those companies that still exist in the same incarnation. Yes, that comment was directed at you, Alcatel-Lucent (NYSE: ALU).

Other telecom losers on our roster include Qwest Communications (NYSE: Q), JDS Uniphase (NASDAQ: JDSU), and Tellabs, Inc. (NASDAQ: TLAB) -- the latter of which also plays a key role in the forthcoming Ciena saga.

What went wrong? At number 3 on our list of SPX laggards, CIEN lost 90% of its value in the decade that ended June 30, 2008. The stock peaked at a split-adjusted $1,057 in October 2000, a zenith that marked the top of a steep ascent. The equity's ensuing plunge would be just as dramatic.

Continue reading Worst 10-year performers: Ciena Corporation's still waiting for that telecom turnaround

ADC Telecommunications (ADCT): Price defines bullish 'flag' pattern

ADC Telecommunications (NASDAQ: ADCT) provides infrastructure equipment used by wireline, wireless, cable, broadcast and enterprise networks. Its systems connect high-speed Internet, data, video and voice services to residential, business and mobile subscribers. The firm also provides network management software and integration services. Ciena (NASDAQ: CIEN), Morgan Stanley (NYSE: MS) and Verizon Communications (NYSE: VZ) are on the company's customer list.

The firm surprised the Street last week, when it reported Q2 EPS of 39 cents and revenues of $403.4 million. Analysts had been looking for 30 cents and $384.8 million. Management also guided Q3 revenues to about $403.4 million ($395.70 million consensus), FY08 EPS to $1.25-$1.33 ($1.21 consensus) and FY08 revenues to $1.52-$1.54 billion ($1.5B consensus). Friedman Billings, Robert W. Baird, UBS and Deutsche Securities subsequently reiterated "buy" ratings on the shares. Lehman Brothers reiterated its "equal weight". All five firms boosted their price targets to the $18.50-$20.00 range.

Continue reading ADC Telecommunications (ADCT): Price defines bullish 'flag' pattern

Earnings highlights: Wal-Mart, Lehman Bros., Take-Two, Ciena, Trina Solar and others

Here are some highlights from this past week's earnings coverage from BloggingStocks:

See also: Earnings highlights: Toll Bros., National Semiconductor, Dr Pepper, Guess and others

Also, continued real estate losses are expected to hurt the quarterly reports of banks such as like Wachovia (NYSE: WB), Wells Fargo (NYSE: WFC), and National City (NYSE: NCC). And Steven Mallas wonders why Playboy (NYSE: PLA) shares have tanked since its last earnings report.

Upcoming results to watch for include Krispy Kreme (NYSE: KKD), Pall Corp. (NYSE: PLL), Pep Boys (NYSE: PBY), Korn Ferry (NYSE: KFY), and Casey's General Stores (NASDAQ: CASY).

Visit AOL Money & Finance for more earnings coverage.

Closing bell: Retail and tech ignore woes and oil gains

Shares were higher today after the weekly jobless claims were reported as 357,000, down 18,000 from last week. While new claims are down, the four week average of those filing for benefits was up to 3.086 million, the highest level since March 2004. The good news is that the markets largely ignored that S&P downgrade of bond insurers today. The stock market even ignored a $5.00 rise per barrel in oil today. Here are the unofficial closing levels today:

DJIA 12,598.10 (+207.62)
S&P500 1,403.30 (+26.10)
NASDAQ 2,549.94 (+46.80)
10YR-TNote 4.03% +(0.09%)
52-WEEK LOWS
TOP 10 ANALYST CALLS

Broadcom Corp. (NASDAQ: BRCM) was an example of just how strong today was by being up almost 3% at $28.90 late in the day. If you read trough the co-founder and former CEO's indictment charges you might think shareholders would have gone the other way.

Continue reading Closing bell: Retail and tech ignore woes and oil gains

Option Update: National Semiconductor and Ciena volatility up into EPS

National Semiconductor (NYSE: NSM) is scheduled to release Q4 after the close of trading on June 5.

RBC Capital Markets has a price target of $18 on NSM.

NSM June option implied volatility is at 46; July is at 40 above its 26-week average of 38 according to Track Data, suggesting larger price movement.

Ciena (NASDAQ: CIEN) closed at $29.97 Monday. CIEN is scheduled to report Q2 EPS on June 5.

Bank of America has Neutral rating with a $32 price target on CIEN.

CIEN June option implied volatility of 65 and July option implied volatility of 57 is above its 26-week average of 55 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 04, 2009: 01:49 AM

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