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Stocks to Watch: Broadcom, Google, Rambus, SanDisk, UnitedHealth, Xilinx

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Finish Strong

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Stocks to watch for Friday, October 20

  • Armor Holdings (AH) reported third-quarter net earnings fell to $21 million, or 58 cents a share, from $26 million, or 74 cents, a year ago. Excluding one-time items, operating earnings were $27 million, or 75 cents a share.
  • Broadcom (BRCM) said its third-quarter sales rose nearly 30% to $902.6 million from $694.9 million from the last year's same period. Broadcom didn't provide a net income figure due to its review of its stock-option accounting.
  • California Micro Devices (CAMD) reported second-quarter net earnings of $1.38 million, or 6 cents a share, down 32% from $2.04 million, or 9 cents a share, during the year-ago period. The company posted revenue of $18.7 million vs. $18.5 million.
  • Cree (CREE) said its quarterly profit dropped 39% as expenses climbed to more than offset a slight increase in sales. Cree said its fiscal first-quarter profit fell to $13.3 million, or 17 cents a share, from $21.7 million, or 28 cents a share, a year earlier.
  • Chartered Semiconductor Manufacturing (CHRT) swung to a third-quarter net profit of $24.4 million, or 1 cent a share. In the same period last year, the Singapore-based company posted a net loss of $34.5 million, or 1 cent a share.
  • Chrysler (DCX) has launched an initiative to cut $1,000 in costs for each vehicle produced, a goal that could save billions of dollars
  • Freescale Semiconductor (FSL) said its net income rose 57%, boosted by stronger sales of its chips used in cars and cell phones. Freescale reported net income of $257 million, or 61 cents a share, vs. net income of $164 million, or 38 cents a share, in last year's period.
  • Google's (GOOG) profit nearly doubled and revenue rose 70% as international operations and the firm's sites boosted its online ad sales. Shares climbed 7.8% after hours.
  • Hyperion Solutions (HYSL) reported first-quarter net earnings of $11.9 million, or 20 cents a share, down 10% from $13.3 million, or 22 cents a share, during the year-ago period. Pro forma earnings were $20.2 million, or 34 cents a share, vs. $19.9 million, or 33 cents a share, a year ago.
  • InfoUSA (IUSA) reported third-quarter net earnings of $11.1 million, or 20 cents a share, up 38% from $8.09 million, or 15 cents a share, during the year-ago period. The Omaha, Neb.-based marketing company posted revenue of $106.4 million vs. $95.5 million.
  • Inter-Tel (INTL) reported third-quarter net earnings of $7.48 million, or 27 cents a share, compared with $735,000, or 3 cents a share. Excluding tax benefits and proxy-contest related costs, among other items, the Tempe, Ariz.-based provider of communications systems earned 30 cents a share.
  • Leggett & Platt (LEG) reported third-quarter net income of $84 million, or 45 cents a share, up from $54 million, or 28 cents, a year ago. Revenue for the quarter ended Sept. 30 rose to $1.41 billion from $1.35 billion.
  • Martin Marietta Materials (MLM) said it now expects third-quarter per-share earnings of $1.63 to $1.65, down from its previous outlook of $1.70 to $1.90. The decline in homebuilding activity across most of the company's market areas as well as weather and transportation issues had a negative impact on volume, the company said.
  • Molex (MOLX) reported first-quarter 2007 net income of $76.8 million, or 41 cents a share, up from $46.7 million, or 25 cents a share, a year ago. The results were helped by the company's acquisition of Woodhead Industries, completed Aug. 10.
  • Oakley (OO) reported third-quarter net earnings of $17.3 million, or 25 cents a share, compared with $16.1 million, or 23 cents a share, in the same period last year, boosted by strong sales of eyewear products. The company increased its 2006 revenue growth outlook to 15% to 17% from a prior view of 13%.
  • Rambus (RMBS) reported third-quarter revenue of $45.9 million, up 28% from the year-ago period. The company expects to take a preliminary, non-cash charge worth more than $200 million for mistakes in its accounting for stock option grants. The company said a vast majority of its stock-option grants handed out between 1998 and 2001 weren't correctly dated or accounted for.
  • Redback Networks (RBAK) said its third-quarter net loss narrowed to $2.39 million from $8.25 million in the same period last year, as sales almost doubled. Net loss attributable to shareholders was $2.39 million, or 3 cents a share, compared with $8.4 million, or 15 cents a share, last year.
  • SanDisk (SNDK) reported a fiscal third-quarter profit that fell 4% from a year ago to $103.3 million, or 51 cents a share. Excluding charges and one-time items, the company would have earned $124 million, or 61 cents a share, while revenue rose 27% to $751 million, up from $590 million a year ago.
  • SiRF Technology Holdings (SIRF) said third-quarter net earnings plummeted to $2.58 million from $14.3 million in the same period last year due to increased employee stock compensation and higher acquisition-related expenses, among other factors. The company posted net earnings applicable to shareholders of 5 cents a share, compared to 26 cents a share last year.
  • UnionBanCal (UB) reported third-quarter net earnings of $170.7 million, or $1.20 a share, down 8% from $185.3 million, or $1.26 a share, during the year-ago period. The San Francisco-based company posted net interest income of $460.6 million vs. $465.2 million.
  • UnitedHealth's (UNH) McGuire could face legal problems related to a 1999 deal in which stock-options backdating played a minor role. The firm's net rose nearly 38%.
  • U.S. Concrete (RMIX) said it expects third-quarter earnings of 28 cents a share to 30 cents a share, below its prior outlook of 31 cents to 36 cents. The company cited lower-than-expected sales volume of ready-mixed concrete as a reason for the shortfall.
  • VeriSign (VRSN) said its third-quarter revenue inched up to $399.8 million from $399.7 million a year earlier, with its Internet business seeing growth and sales at its mobile-related business falling. The company didn't provide profit details as it continues to review its past stock-option grants.
  • Xilinx (XLNX) reported a fiscal second-quarter profit of $93 million, or 27 cents a share, up from $85.6 million, or 24 cents a share a year ago. The company's revenue rose 17% to $467.2 million from $399 million in the year-ago period.
  • Zions Bancorp (ZION) said third-quarter net income came in at $153.7 million, or $1.42 a share, up 25% from a year earlier when the bank made $123 million, or $1.34 a share. Zions' net interest margin was 4.58% in the third quarter vs. 4.64% for the second quarter of 2006 and 4.59% for the third quarter of 2005.


Market Update

  • Asian trading closed with the Hang Seng +0.70%, Nikkei +0.61%, Sensex -0.11%, Taiwan +0.62% and Shanghai -0.11%.
  • A quick check across the pond finds greener pastures with the CAC +0.56%, DAX +0.39%, FTSE +0.29%, ATX +0.27% and Swiss Mkt +0.34%.
  • Crude oil is trading +0.20 to 58.71 while gold is -0.8 to 601.7 this morning.
No positions in stocks mentioned.

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