Applied Materials Reports DECLINING Sales and 4 Morning Hot Stocks Trending Today
Semi-conductor equipment manufacturer Applied Materials (NASDAQ:AMAT) reports declines across the company: order backlogs are off 22 percent q-on-q to $1.82 billion; chip equipment orders are down 41 percent q-on-q to $1.17 billion, solar down 44 percent to $35 million, display declines 20 percent to $67 million while services orders fall 18 percent to $531 million. The company forecasts FQ4 revenues to fall 25-40 percent q-on-q vs a consensus of 17 percent.
Computer storage and data management company NetApp (NASDAQ:NTAP) reports gross margin for FQ1 at 60 percent vs 65.2 percent in the previous FQ4 as q-on-q revenues fall sharply. Operating expenses are up 7 percent y-on-y. Guidance for FQ2: revenues of $1.5 billion – $1.6 billion and EPS in the range $0.45 – $0.50 against analysts’ estimates of $1.54 billion and $0.46 respectively.
Wal-Mart (NYSE:WMT) reports 3.8 percent growth in U.S. revenues, 6.4 percent in international operations and 3.8 percent in warehouse membership Sam’s Club. Same store sales growth is 2.2 percent. Guidance for full year EPS is in the range $4.83 – $4.93, revised from $4.72 – $4.92 and a consensus estimate of $4.92.
Retailer Bon-Ton Stores (NASDAQ:BONT) reports a miss of $0.73 on its Q2 EPS of -$2.43, with revenues too falling short by $7 million at $594 million.
Q2 net earnings for China Mobile (NYSE:CHL) are reported at 34.4 billion yuan ($5.4 billion) missing consensus of 35.6 billion yuan. Sales, though up 5.4 percent to 139.1 billion, miss estimates of 140.5 billion yuan. The company will spend 20 billion yuan on subsidizing handsets to maintain its leading market share in smartphones.
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