NEW YORK, Feb 2 (Reuters) – Video game publisher THQ Inc’s
(THQI.O: Quote, Profile, Research, Stock Buzz) revenue fell in the third quarter and the maker of
“WWE SmackDown vs Raw” and “Saints Row” issued a
weaker-than-expected earnings forecast, sending shares down
more than 12 percent.
THQ lowered its earnings outlook for its current, fiscal
fourth quarter to a range of 5 to 15 cents, compared with the
30 to 38 cents that analysts were expecting. The company’s
previous earnings forecast was 35 to 45 cents.
NEW YORK (Reuters) – Video game publisher Electronic Arts Inc’s announced a surprise $600 million share buyback plan and raised the midpoint of its earnings forecast for 2011, sending its shares up more than 8 percent on Tuesday.
Earnings per share is now expected to be 60 cents to 70 cents, compared to analysts’ average estimates of 63 cents, according to Thomson-Reuters I/B/E/S. Its previous estimate was for earnings of 50 cents to 70 cents.
NEW YORK, Feb 1 (Reuters) – Lexmark International Inc’s
(LXK.N: Quote, Profile, Research, Stock Buzz) fourth-quarter profit trounced Wall Street expectations
helped by strong sales of laser printers, sending shares up
more than 6 percent in premarket trading on Tuesday.
The company posted a quarterly profit of $87.6 million, or
$1.10 per share, compared with a profit of $59.8 million, or 76
cents per share a year earlier.
NEW YORK (Reuters) – Motorola Solutions Inc (MSI.N: Quote, Profile, Research, Stock Buzz) forecast a weaker first quarter than Wall Street expected because of higher-than-anticipated expenses, sending its shares lower on Thursday.
In its first quarterly report as an independent company, the supplier of walkie-talkies and other wireless devices to companies and government agencies forecast sales growth of 3 percent to 4 percent in the first quarter of 2011. It said earnings from continuing operations would be 29 cents a share to 34 cents a share.
NEW YORK (Reuters) – Motorola Solutions Inc (MSI.N: Quote, Profile, Research, Stock Buzz) posted a 13 percent increase in quarterly revenue as demand for its wireless equipment rose because corporations loosened their purse strings as the economy improved.
In its first quarterly report as an independent company, the supplier of wireless gadgets like walkie-talkies to government agencies and corporate clients, Motorola Solutions’ revenue rose to $2.246 billion from $1.983 billion in the year- ago quarter if it had been a stand-alone company.
NEW YORK (Reuters) – Xerox Corp (XRX.N: Quote, Profile, Research) issued a first-quarter profit forecast that was at the low end of Wall Street estimates and announced the retirement of its longtime finance chief, sending shares down 8 percent.
Xerox, a company best known for its printers and copiers but that is now trying to expand its corporate services business, said its 68-year-old chief financial officer, Lawrence Zimmerman, would step down next month. Luca Maestri, 47, currently Nokia Siemens Network’s CFO, will replace him.
NEW YORK, Jan 26 (Reuters) – Xerox Corp’s (XRX.N: Quote, Profile, Research, Stock Buzz) profit
fell due to restructuring charges in the fourth-quarter and
its chief financial officer plans to retire next month.
CFO Lawrence A. Zimmerman, 68, will be replaced by Luca
Maestri, the 47-year-old current CFO of Nokia Siemens Networks,
Xerox said on Wednesday.
Forget Larry Page becoming the new chieftain at Google or Facebook’s Mark Zuckerberg being crowned Time’s Man of the Year — the only two U.S. business leaders who will be sitting in Michelle Obama’s private box tonight at the State of the Union address will be Xerox’s CEO Ursula Burns and Corning’s CEO Wendell Weeks.
The high profile honors for the decades-old U.S. tech giants just happen to have been conferred in the same week both report earnings.
NEW YORK (Reuters) – Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) increased quarterly sales of glass used in the liquid crystal display screens found on TV sets, and showed its bet on creating a new scratch-resistant glass for smartphones has begun to pay off.
Corning’s fourth-quarter results, which lifted its shares nearly 7 percent on Tuesday, benefited from its ability to buck weak trends in the LCD market.
NEW YORK (Reuters) – Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) increased its share of the liquid crystal display market in the fourth quarter and posted growth in its other segments, sending shares up 5.2 percent on Tuesday.
In addition to LCDs, which are used in flat screen televisions, the specialty glass maker’s sales also improved for its “Gorilla Glass,” a component in smartphones, and fiber optics.