- Pre-Market Indications

Thursday, May 22, 2008

Opening View: NetApp, Suntech Power, Limited Brands in Earnings Limelight

Shares of NetApp (NTAP: View sentiment for NTAPsentiment, chart, options) are off about 11% in electronic trading following weaker-than-expected guidance. For the fiscal fourth quarter, NTAP logged a profit of $90 million, or 26 cents per share, on $938 million in revenue. Excluding one-time items, the company would have earned $131 million, or 38 cents per share. Analysts were expecting a profit of 36 cents per share on $938.4 million in sales. Looking ahead, NetApp expects first-quarter earnings of 20 cents to 23 cents per share, excluding items, on revenue between $845 million and $875 million.

Elsewhere in tech, Computer Sciences (CSC: View sentiment for CSCsentiment, chart, options) reported fiscal fourth-quarter profit of $181.7 million, or $1.15 per share. Excluding special items, CSC earned $221.3 million, or $1.44 per share. Revenue reached $4.48 billion from $4.04 billion. Analysts had forecast a profit of $1.46 per share on $4.41 billion in sales.

In the solar sector, Suntech Power Holdings (STP: View sentiment for STPsentiment, chart, options) reported first-quarter earnings of $55.8 million, or 33 cents per share, doubling from last year's $26.1 million, or 16 cents. Analysts were looking for a profit of 29 cents per share. Revenue for the quarter rose to $434.5 million from $246.7 million.

Finally, in the retailing sector, Limited Brands (LTD: View sentiment for LTDsentiment, chart, options) reported that first-quarter net income rose to $97.8 million, or 28 cents per share, from $52.9 million, or 13 cents, last year. Excluding items, LTD's profit would have been 11 cents per share. Revenue fell to $1.93 billion from $2.31 billion. Looking ahead, LTD expects earnings of 16 cents to 20 cents per share in the second quarter and earnings of $1.38 to $1.58 per share in 2008
Opening View: NetApp, Suntech Power, Limited Brands in Earnings Limelight

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