Broadcom Yearly Earnings Pop 16.7% and 4 Chip and Big Data Stocks on the Move
Broadcom Corp. (NASDAQ:BRCM): Wall Street is high on Broadcom Corp, they are expecting them to report earnings that are up 16.7% from a year ago when they report their third quarter earnings on Tuesday, October 23, 2012. The consensus estimate is 56c per share, up from earnings of 48c per share, a year ago. The consensus estimate is up from three months ago when it was 54c, but hasn’t changed over the past month. For the fiscal year, analysts are expecting earnings of $2.02 per share. Revenue is projected to be $2.09 billion for the quarter, 6.8% above the year-earlier total of $1.96 billion. For the year, revenue is projected to come in at $8 billion.
Qualcomm Technologies Incorporated (NASDAQ:QCOM): Qualcomm Technologies, Incorporated, has announced that their networking and connectivity subsidiary, Qualcomm Atheros, Inc, has introduced the new QCA7450/AR1540 chipset, a first in the family of HomePlug AV2, or HPAV2, compliant solutions. The new chipset will enable consumers to use their homes’ existing power outlets to improve coverage and multimedia streaming performance, with high speed connectivity of more than 500Mbps.
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Rambus Inc. (NASDAQ:RMBS): Rambus Inc. posted third quarter 2012 adjusted earnings per share of 4c, compared to the Zacks Consensus Estimate of 23c loss per share. The adjusted EPS excludes other patent royalties received, acquisition costs and retention bonus, amortization, costs of restatement and related legal activities, as well as non-cash interest expense on convertible notes, but includes stock-based compensation expenses. Shares surged 2.43% in the after hours, reflecting positive guidance for the fourth quarter.
ARM Holdings (NASDAQ:ARMH): ARM Holdings PLC. had their neutral rating reaffirmed by analysts at Exane BNP Paribas.
Rackspace Hosting (NYSE:RAX): Rackspace Hosting, Inc. has relinquished the reigns of the OpenStack code to an independent foundation and has made significant progress on their own commercial plans. At the OpenStack Summit, Wednesday, one Rackspace executive said that the company is getting ready to release a Block Storage product, in the next few weeks, based on the “Cinder” Block Storage service component of OpenStack. “There are two levels of storage and the early preview stuff is going well,” said Troy Toman, Senior Director of Engineering for Cloud Compute at Rackspace Hosting. “It’ll be coming out in the next few weeks.”
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