MarketWatch.com - Pre-Market Indications
Monday, January 21, 2008
NEW YORK (MarketWatch) -- Among the companies whose shares are expected to see active trade in Friday's session are IBM, Washington Mutual and AMD.
International Business Machines Corp. (IBM:
Sponsored by:, , ) on Thursday said it earned $3.95 billion from continuing operations, or $2.80 a share, for its 2007 fiscal fourth quarter, compared to $3.46 billion, or $2.26 a share in the prior-year period. IBM's revenue was $28.9 billion in the latest quarter compared to $26.26 billion the year earlier. The results matched what IBM said it would report when it gave preliminary results before the market opened on Monday.
Washington Mutual Inc. (WM:
Sponsored by:, , ) on Thursday reported a $1.87 billion net loss as the lender continued to struggle in the face of a meltdown in the mortgage industry. The company lost $2.19 a share in the period after taking a $1.6 billion charge to write down the value of its home-loan business and set aside more provisions to cover the cost of housing-market weakness.
Advanced Micro Devices Inc. (AMD:
Sponsored by:, , ) on Thursday reported a fourth-quarter net loss of $1.772 billion, or $3.06 per share, on revenue of $1.77 billion, compared to a loss of $576 million, or $1.08 per share, on revenue of $1.773 billion for the same period last year. The loss included a $1.675 billion operating charge. Wall Street had expected the company to report revenue of $1.79 billion, according to a survey by Thomson Financial.
NYSE Euronext (NYX:
Sponsored by:, , ) late Thursday said it will acquire the American Stock Exchange for $260 million in stock, in a move to boost its overall trading volume. NYSE, the New York equities exchange, said it expects the acquisition, expected to close in the third quarter, to add to 2009 full-year earnings and expects run-rate cost savings of more than $100 million. Shareholders of Amex will also be entitled to additional NYSE shares after the sale of Amex's lower Manhattan headquarters
Xilinx Inc. (XLNX:
Sponsored by:, , ) on Thursday said fiscal third-quarter net income increased 18% to $103.6 million, or 35 cents a share, from $87.5 million, or 26 cents a share, a year earlier. The San Jose, Calif.-based logic chip maker's revenue rose 5.3% to $474.8 million in the period ended Dec. 29 from $450.7 million in the year-ago period, boosted by particularly strong North American and new-product sales. On average, analysts polled by Thomson Financial expected per-share earnings of 32 cents on revenue of $464 million. Xilinx expects fiscal fourth-quarter revenue to be down 1% to up 3% sequentially. The company said it will no longer issue mid-quarter business updates.
Texas Instruments Inc. (TXN:
Sponsored by:, , ) on Thursday said Chairman Thomas Engibous will retire on April 17. The Dallas semiconductor maker said Richard Templeton will become the company's new chairman, in addition to his current position as president and chief executive.
Continental Airlines Inc. (CAL:Nick Godt is a MarketWatch reporter based in New York.
Sponsored by:, , ) said Thursday its fourth-quarter revenue climbed more than 11% thanks to more traffic and higher fares that helped to offset a sharp increase in fuel prices. The Houston-based airline also said it earned $71 million before taxes during the December quarter, or $24 million when excluding special items. Continental said it will finalize financial results earnings after recoding a special non-cash tax charge. The company lost $4 million before taxes in the year-ago quarter.