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DreamWorks To Split Off Animation Unit in IPO
July 21, 2004
DreamWorks today filed a registration statement with the Securities and Exchange Commission announcing it intends to make an initial public offering of shares in, and split off, its animation unit, DreamWorks Animation. The studio, formed in 1994 by Steven Spielberg, Jeffrey Katzenberg and David Geffin, said in the registration statement that it expects Katzenberg to be chief executive officer of the independent company.
Markets Respond Well to Fed Rate Hike
June 30, 2004
Stock markets reacted favorably after the Federal Open Market Committee boosted interest rates by a quarter point and issued a statement that seemed to indicate gradual future increases were in the offing. The Fed did what most were expecting when it raised its target rate to 1.25 percent, the first hike in four years.
HP Races Past Targets But Plans More Job Cuts
May 21, 2003
Hewlett-Packard turned in an impressive second quarter, beating targets for revenue and profits, but said it will continue aggressively cutting costs in the wake of its merger with Compaq by laying off another 3,500 workers by the end of this year.
Cisco Profits Up, Sales Down
May 7, 2003
Cisco Systems sounded a familiar refrain in reporting its quarterly results, saying profits were up but sales declined as demand for its networking gear remained soft, forcing the company to scale back its efforts to develop next-generation products.
Priceline Back in Red as USAi Narrows Loss
May 2, 2003
Priceline.com said its fast-growing hotel reservations business propped up its first-quarter results and announced it will ask shareholders to approve a reverse stock split to boost its sagging shares. The company posted a loss of $8 million in the first quarter, compared with a profit of nearly $4 million a year ago.
Monster.com Parent Pares Losses, Plans Name Change
April 30, 2003
Despite a lingering hangover for employment in the United States, Monster.com's parent company trimmed its fiscal losses in the first quarter and said it would have posted a profit if not for charges associated with restructuring. TMP Worldwide said it lost $28 million as revenue decreased to $168.9 million from $181.5 million a year ago.
Amazon Trims Losses, Ups Outlook
April 25, 2003
Amazon.com has trimmed its fiscal losses, posted its first non-holiday quarter with more than $1 billion in sales, and raised its revenue forecast for full-year 2003, providing further grist for investors who seem increasingly optimistic about long-battered Internet stocks.
AOL Back in Black, But Online Unit Struggling
April 23, 2003
Snapping back from one of the largest losses in corporate history, AOL Time Warner posted a first-quarter profit that beat expectations, but its once high-flying online unit continued to drag down overall results. The company said it earned $396 million in the quarter, a far cry from the $54 billion it lost in the same period last year.
Gateway Sees PC Sales Fall as Rivals Pull Ahead
April 18, 2003
Gateway said its transformation from PC retailer to more diversified company accelerated in the first quarter. The gap between the company and its major PC competitors widened, but sales of its specialty products and home electronics rose. However, the company lost $200 million, and revenue fell to $844 million from $992 million a year ago.
Tech Companies Meet Targets, But Concerns Remain
April 17, 2003
Three of the best-known technology companies -- Sun, Apple and AMD -- have posted fresh earnings reports, and while none contained blockbuster successes, most were about on par with expectations. Taken together, the results paint a picture of a slow quarter, but one that companies were able to make adjustments to handle.
Microsoft Beats Street, Sees Rocky Road Ahead
April 16, 2003
Microsoft managed to beat expectations for the most recent quarter but said it has concerns about how the rest of this year and the first half of 2004 will shape up. Fellow tech bellwether Intel had a similar story for Wall Street. The leading chipmaker said mobile-device sales helped it squeak past expectations.
IBM Posts Solid Q1 Powered by Services Sector
April 15, 2003
Providing a potential shot in the arm to the technology sector as earnings season heats up, IBM has reported a relatively strong first quarter, saying two major acquisitions and cost-cutting initiatives undertaken last year have begun to help boost revenue.
Warnings, Lower Forecasts Mark Dawn of Q2
April 4, 2003
With the books closed on the first quarter of 2003, two business software markers have warned that their results will come in below expectations. Meanwhile, research firm IDC said continuing uncertainty has prompted it to lower its IT spending forecast for the year.
Oracle Beats Estimates But Warns on Outlook
March 19, 2003
Number two software maker Oracle posted a strong third quarter, with earnings up 12 percent and a year-over-year revenue increase for the first time since 2001. But as has often been the case recently, it was the company's uncertain outlook and not past performance that caught the attention of investors and analysts.
Intel Outlook: Some Strength, No Recovery
March 7, 2003
Number one chipmaker Intel has announced the first quarter is unfolding largely as expected, but cautioned that while sales of PC chips are strong, there is little evidence of a real recovery. The company also refined its revenue guidance, saying it will bring in between $6.6 billion and $6.8 billion, rather than the $7 billion predicted earlier.
HP Posts Higher Profit on Weak Sales
February 26, 2003
Hewlett-Packard posted a profit gain of nearly 50 percent in the first quarter, but sales fell short of expectations, raising concerns about the personal computer and enterprise equipment markets and sending a ripple through the stock market.
Dell Meets Street, Confirms Sunny Forecast
February 14, 2003
Number two computer maker Dell matched analyst expectations for sales and profit in the fourth quarter and, more surprisingly to some observers, said it remains on track to meet targets for the current quarter. Fourth-quarter revenue rose 21 percent to $9.74 billion, an impressive gain given that computer sales overall were largely flat, Dell noted.
Cisco Hits Targets, Says CEOs Still Cool on Spending
February 5, 2003
Network equipment maker Cisco Systems has squeaked past analyst expectations, reporting net income of $991 million for its second fiscal quarter, well above Q2 2002 levels of $660 million. However, the company's largest quarterly profit ever stemmed more from cost-cutting measures than from top-line sales growth.
AOL Books $99 Billion Loss; Turner To Step Down
January 30, 2003
After reporting that it ended its fiscal year an unprecedented $99 billion in the red, AOL Time Warner said Ted Turner also will step down from his post as vice chairman in May. The company's fourth-quarter earnings statement revealed a $45.5 billion charge as a result of depreciation in its America Online division.
Amazon Posts Profit, Makes Free Shipping Permanent
January 24, 2003
Bellwether e-tailer Amazon.com booked its second-ever profit in the fourth quarter as shoppers flocked to the site for holiday purchases, helping push revenues to record levels that surpassed analysts' expectations. Amazon said it took in $1.43 billion in the fourth quarter. Net income was $3 million, down from $5 million last year.
EBay Shatters Q4 Targets, Joins Billion-Dollar Club
January 17, 2003
Continuing to set the standard for both growth and profit among e-commerce companies, eBay has reported Q4 income and revenue that far outpaced expectations. Buoyed by bargain-hunting holiday shoppers and traction in high-ticket categories, the company booked a profit of $87 million, more than tripling its year-ago income of $25.9 million.
Intel Beats Street But Cautions on 2003
January 15, 2003
The technology earnings season is off to a mixed start, with leading chipmaker Intel reporting a fourth-quarter profit that beat Wall Street expectations, but also adopting a largely conservative outlook for 2003. The company said net income in the quarter was $1 billion, almost double fourth-quarter 2001 levels of $504 million.
Gateway: Promotions Will Not Save Holiday Season
January 8, 2003
Gateway has revealed that its fourth-quarter earnings will not meet expectations because a flurry of promotional offers, including a first-ever two-for-one offer on PCs, failed to lift sales to sufficient levels. The company said it expects to book sales of $1.06 billion, well short of its earlier estimate of $1.2 billion.
IPO Hopefuls Bid Good Riddance to 2002
January 3, 2003
The National Venture Capital Association has made official what most observers already knew: 2002 was a dismal year for initial public offerings, with just 22 venture-backed companies debuting in U.S. stock markets. Those firms raised a collective $1.9 billion. In comparison, 35 companies held IPOs in 2001, raising a total of $2.8 billion.
Oracle Beats Estimates; Says Worst Is Over
December 19, 2002
The number two software supplier Oracle said Wednesday it had beaten its own conservative quarterly estimates and indicated the company's financial downturn may be coming to an end.
Stocks That Rocked in 2002
December 3, 2002
With the stock market wobbling unsteadily toward the 2002 finish line, producing gains that are modest at best and nonexistent at worst, good investments are few and far between. Even so, a few savvy investors have found high performers amid the carnage.
Tech Stocks for the Long Haul
November 22, 2002
Wall Street has battered tech stocks for more than a year, so one might think the Nasdaq would be littered with bargains. But recent gains in the tech sector have wiped away many of the best opportunities, according to analysts. Even so, some gems still sparkle amid the wreckage in software, semiconductors and even telecom.
HP Exceeds Wall Street Expectations
November 21, 2002
Lifted by its printing and imaging success and by cost-cutting measures associated with its $19 billion merger with Compaq, Hewlett-Packard reported that it earned $390 million on $18 billion in revenue in its fourth quarter ended October 31st.
Is Pessimism the Key to Stock Growth?
November 15, 2002
The stock market rally that Microsoft sparked by smashing through its first-quarter revenue and earnings targets had barely started to take hold when CEO Steve Ballmer began telling audiences that the results were an aberration. Is the company trying to lower the bar for itself?
BroadVision at the Crossroads
November 12, 2002
In the last two years, BroadVision's revenues have collapsed, and its market cap has shrunk. Even after a year of aggressive cost cutting, the company's third-quarter results showed continuing losses. Is the company on its last legs, or has its repositioning strategy put it on the road to recovery?
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