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  • Majandustulemuste hooaeg hakkab tõelist hoogu saama (õhtul Intel):

    Merrill Lynch (MER) tuli oodatust kehvemate majandustulemustega, kuid hetkel vaid protsendijagu miinuses. Kaks olulist tegurit - teised maaklerid olid varem tublisti prognoose ületanud, kuid samas on kogu sektor tublisti allamüüdud.

    07:38 MER Merrill Lynch misses by $0.03, light on revs, extends share buyback by $2 bln (51.47 )

    Reports Q2 (Jun) earnings of $1.06 per share, $0.03 worse than the Reuters Estimates consensus of $1.09; revenues rose 0.6% year/year to $5.3 bln vs the $5.7 bln consensus. Co also extends share buyback by another $2 bln.
  • Eilselt järelturult järgmised olulisemad sündmused:

    Valitsusasutustele tarvilikele lahendustele spetsialiseerunud tehnoloogiafirma PEC Solutions (PECS) sai USA Julgeolekudepartemangult lepingu väärtusega 5,2M USD, arvestades firma eelmise kvartali käivet 172M USD on tegu olulise käibe kasvatamise võimalusega, aktsia täna eelturul +9,59%.

    Pooljuhtide sektori esindaja LSI Logic (LSI) kinnitas oma II kvartali EPS prognoosi 0.06-0.08 USD, kuid alandas käibeprognoosi 448M USD tasemele varasema 455-470M USD asemel. Aktsia alustamas päeva ca +4,00% kõrgemal eilsest.

    Täna enne turu avanemist laekunud tulemuste puhul on enamikul juhtudel tegu prognooside ületamisega või täitmisega, vaid 2 ettevõtet 11 raporteerinust on ootustele alla jäänud. Nende hulka kuulub Merrill Lynch, kes alustab päeva -2,37% languses kui EPS 1.06 USD jäi 0.03 USD võrra alla oodatule.

    Teine suurem firma tänahommikuste raporteerijate seas Johnson & Johnson (JNJ) omakorda lõi EPS prognoose 0.03 USD võrra, see tuli 0.82 USD, aktsia +1,33%.

    Ootustega võrreldes suurima üllatuse serveeris investeerimispank Jefferies Group (JEF), aktsia on avanemas +5,04% kõrgemal eilsest - EPS 0.50 USD vs. ootus 0.44 USD.

    Rev Shark:

    "There is no terror in the bang, only in the anticipation of it."

    -- Alfred Hitchcock

    For a couple of weeks now, anticipation of second-quarter earnings has been driving the market mood. Yahoo! (YHOO:Nasdaq) has helped set the tone with a mostly in-line report that disappointed market participants.

    Analysts have been concerned about a similar negative reaction to Intel (INTC:Nasdaq), and have been busy reducing their expectations in recent weeks. Joe Osha at Merrill Lynch was the latest to take a proactive approach to the possibility of too much positive anticipation, and he chopped a slew of stocks in the sector yesterday.

    Now the anticipation ends and reality begins to hit. Obviously, after the chip downgrade yesterday, Intel is the primary focus of the market. The big question is whether expectations have been sufficiently reduced so that a "mediocre" report is already priced in.

    This is not a market that has been acting like it's wildly optimistic about earnings season. All the major indices have been struggling technically as earning season approaches. The big concern is that forward guidance may not be that strong, and we may see some multiple contraction as a result.

    The big positive for the bulls right now is that no one can say that this market has high expectations. We have been stumbling and bumbling around and downtrending since the first of the year. A sell-the-news reaction is most likely to occur when there is a high level of positive anticipation. That is not the case at present.

    However, the bulls are still hopeful that earnings season will provide them with some ammunition. The Intel downgrade yesterday was viewed by some as a strong contrary indicator that a bottom is near. A downgrade on top of a number of other downgrades and following a long steady slide is the type of thing that indicates that a turning point may be at hand.

    We have a few earnings reports hitting this morning. The Merrill Lynch (MER:NYSE) report is out and looks like it is soft. They missed both the revenue and EPS estimates. The stock has been acting weak for quite a while now, and this will be a good test to see how much of the bad news is already priced in.

    Futures are slightly positive at the moment. Overseas markets were mixed with technology stocks weighing on the Asian exchanges.

    G. B. Smith:

  • Gapping Up

    INFY +8% (beats, guides higher), LU +6% (wins $5 bln contract from Verizon Wireless), QCOM +1.6% (declares 2-for-1 split, raises dividend), MECA +15% (MIM offers to take MECA private), GORX +15% (positive clinical results), IVAC +13% (reports Q2), CNJ +9% (Moulin increases bid to acquire company), FCEL +6% (First Albany upgrade), JEF +5% (beats by $0.06, beats on revs), RIMM +2.2% (sympathy with QCOM).... Under $3: SSPI +8% (technology selected by Oak Ridge National Laboratory).

    Gapping Down

    WHRT -48% (warns for Q2, Q3, and Q4; will restate Q1), SCSS -23% (guides lower; Piper downgrade) SLNK -18% (guides lower), FIC -13% (guides lower, JMP downgrade), CPWR -13% (guides lower, First Albany downgrade), VLGC -10% (guides lower), TSCO -9% (reports in-line, but guides lower), CGFW -8% (guides for SepQ), DAL -7% (Smith Barney lowers target to $1), BNSO -6% (profit taking after 70% jump yesterday), IMOS -6% (prices offering), AGN -6% (panel vote against approval of TazOral, BofA downgrade), RHAT -5% (announcing new revenue recognition method, restatement).
  • Intel esimese reaktsioonina tulemuste peale (prelim $0.27, vs $0.27 consensus; revs $8.05 bln, vs $8.106 bln consensus) nullis, kuid Juniper on heade tulemustega väljas ning järelturul +8%.
  • jah, järgnev reaktsioon juba selline, põhjuseks Inteli suurenevad laovarud ja 2004 kohta veidi vähendatud marginaalid. INTC -3%.

    JNPR +10%
  • Millisest allikast saaks kõige kiiremini kätte tulemusi avaldava firma andmed?
  • Mida arvate IVAC-st?Hea võimalus osta?
  • Income, enamasti avaldavad firmad tulemused prnewswire või businesswire kaudu.

    Privador, juba füüsikast on teada, et kukkumise peatamiseks kulub palju energiat, aga see on vajalik, enne kui tõusma saab hakata .. las selle energia kulutavad teised. Ehk siis teisisõnu, oota enne pisut ja vaata, kas kukkumine on läbi, alles siis tasut ostmisele mõelda.

    Ardo

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