Canon ADR reported fourth quarter earnings of ¥0.4633 per share, compared to ¥0.3603 expected by analysts polled by Investing.com. Revenue of ¥9.08B. also beat analysts’ expected ¥8.78B. For fiscal year, net income attributable to Canon Inc. was 83.32 billion yen, down -33.3% . Earnings per share was 79.35 yen compared to 116.77 yen. Net sales fell -12.2% to 3.16 trillion yen. Looking ahead,...
On Friday, Seagate reported fiscal-second-quarter earnings and revenue that surpassed analysts' expectations.
For the quarter ended Jan. 1, the data storage company’s adjusted earnings came in at $1.29 a share, compared to the $1.13 expected by analysts polled by FactSet.
Revenue fell -2.7% year-over-year to $2.62 billion, also exceeding analysts’ forecast of $2.56 billion.
"Seagate delivered strong, double-digit revenue, earnings and free cash flow growth in the December quarter, supported by broad-based improvement across nearly every served market and geography, and we had solid customer demand for our mass capacity products," Chief Executive Dave Mosley mentioned in a statement.
HP Inc. shares traded lower Thursday, following downgrade from Goldman Sachs analysts who also lowered their price target on the stock.
Goldman Sachs analyst Rod Hall lowered his rating to "sell" from "neutral on the PC and printer maker’s shares.It will eliminate between 7,000 and 9,000 jobs from its global workforce of 55,000, while taking a fourth quarter charge of around $100 million to compensate for the costs.
Goldman analysts also think that the stock is "relatively undervalued" compared to its peers.The analysts expect "potential for the multiple to re-rate in the future as execution gets better.
HP Inc. shares took a hit on Monday, following a rating downgrade by Bernstein Research.
Bernstein reduced its rating on the tech company's stock to market perform from outperform, citing structural headwinds to HP's printing unit amidst a shift to digital.
In its third quarter, HP experienced a -5% decline in revenue from its printing unit.However, outgoing CEO Dion Weisler told investors on an earnings call last month HP "outperformed the market in an increasingly challenging environment,".
HP's PC segment saw a +6% revenue growth in the latest quarter ,and a +51% surge its profit margin .
Dell Technologies Inc.’s second quarter earnings came in higher than expected.
The maker of computers and software reported second quarter non-GAAP earnings of $2.15 a share, surpassing analysts’ expectations of $1.47 a share.
Revenue rose +2% year-over-year to reach $23.4 billion in the quarter, also beating the Street estimate of $23.27 billion.
Vice chairman Jeff Clarke emphasized that IT spending remained healthy.
The quarter saw exceptionally strong performance in Dell’s PC segment.Consumer revenue fell -12%, but that was cushioned by enterprise market – since the latter makes up the larger part of the company’s total PC business.
However, Dell’s storage revenue was flat, while servers and networking sales declined -12%.
HP (NYSE: HPQ) is out with a slate of new gaming products led by the 15-inch, dual-screen OMEN X 2S.
Computer hard drive maker, Western Digital, published quarterly report with estimate-missing earnings of $0.17 per share compared to the $3.63 per share a year ago.This could mean the shares may underperform in near future.
Investors also need to be mindful of the material impact of industry, as Intel (INTC) also provided a disappointing guidance last week as memory chip pricing has stayed in its doldrums so far in 2019.
While WDC is up more than 30% year-to-date, following the quarterly announcement it fell nearly 7% to $47 a share on Monday.
Seagate Technology outpaced earnings and revenue estimates for its latest quarter, but portended challenges from a geopolitical angle.
The data storage company reported fiscal second-quarter earnings of $1.34 per share – compared to analysts’ expectation of $1.27 a share.However, revenue was -6.5% lower from the year-ago quarter.
Seagate CEO Dave Mosley recognized headwinds from geopolitical uncertainties for the storage industry, but also indicated his faith in long-term growth of demand.
From trading over $300 in August, shares of the company plunged to the sub-$200 levels at the start of 2019 -- which analysts see as a buying opportunity.
A strong Q4 performance by the company rekindled expectations of strong growth potential in 2019, as Arista maintains healthy routing and enterprises businesses.
According to analysts, webscale spending, which slowed in the second half of 2018, didn’t have much impact on networking as it did for compute and storage, as networking didn't share in the upside in webscale capex.Further, as webscale networks get more complex and less susceptible to falling memory prices, networking is likely to gain more share and importance also.
Analysts also think that with healthy cloud revenues and supporting long-term cloud spending growth, a robust ~40% 100G growth and Arista's strong 100G share of around 25% might prove pivotal for the company in 2019.
Wall Street expects a year-over-year decline in earnings on lower revenues when Western Digital (WDC) reports results for the quarter ended December 2018.While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
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Hard drive manufacturer Western Digital (Nasdaq: WDC) has been trending lower for over eight months now and the stock has formed a trend channel around the cycles.After hitting that low in 2016, the stock rallied to the all-time in March.
The fundamentals are a bit of a mixed picture for Western Digital.
Music lovers, get ready for what might be the world’s biggest audio entertainment company.
Early Monday, it was announced that radio broadcasting company SiriusXM Holdings Inc. will be buying music streaming service Pandora Media Inc. in a $3.5 billion all-stock deal.Last year, SiriusXM had already bought 19% of Pandora's stock for $480 million.
SiriusXM has 36 million subscribers in North America.