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.
NEW YORK, Jan 25 (Reuters) – Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) gained
market share in the fourth quarter in the weaker market for
liquid crystal display panels, sending shares up 4.4 percent on
Demand for LCD panels has slowed as consumers have shown
little appetite for upgrading their televisions once they have
bought their first flat-screens. The weaker market has led to
price cuts among LCD glass makers.
NEW YORK (Reuters) – Expert network firms, currently the focus of a major U.S. insider trading investigation, have never had to work too hard to find midlevel corporate executives willing to moonlight as paid consultants.
With consultants earning anywhere from $200 to $1,000 an hour for a meeting with hedge fund traders, working for an expert network firm — an intermediary company that matches industry consultants with hedge funds — is an easy way for an executive to pad his bank account.