WDC Rises on Nasdaq Move, Buybacks; Dividend Coming?
Today was a fairly big day for disk drive maker Western Digital (WDC), with the company announcing it will move its listing from New York Stock Exchange to Nasdaq, and saying its board of directors authorized another $1.5 billion in share repurchases, ...
Marvell Rising: FYQ1 Beats, Initiates Dividend, Increases Buyback Plan
Shares of chip maker Marvell Technology Group (MRVL) were briefly higher in late trading, but are now down 10 cents at $13.20 after the company said it will initiate a quarterly dividend of 6 cents per share, starting with a payment on July 11th to all...
Intel Ups Dividend a Third Time in 18 Months
Shares of Intel (INTC) are down 4 cents at $27.86, after the company this morning said it will up its quarterly dividend by 7%, from 21 cents to 22.5 cents per share per quarter, starting with the payout that begins in the third quarter. CEO Paul Otellini remarked, “2012 is expected to be another year...
WDC Drops 12% on Downgrades; Will Prices Have to Fall?
Shares of Western Digital (WDC) are down $5.12, or 12%, at $38.97, after the company last night beat fiscal Q3 revenue and profit per share estimates, and offered a better-than-expected Q4 view.
It appears that there were several concerns, including some weaker comments about demand this quarter, and the prospect of declining gross profit margin. But...
AAPL: Worst Run Since Late September, Says S&P
In case you needed any data to ponder Apple‘s (AAPL) 4% decline today, Standard & Poor‘s senior index analyst, Howard Silverblatt, offered up some food for thought this afternoon, noting the stock has lost 8.7% over the last five trading days, the longest multi-day decline since the 7-day decline from September 25th through October 4th....
STX, WDC Buck Nasdaq Slump; Barron’s Effect?
Two relatively decent performers in the tech market today were disk drive makers Seagate Technology (STX) and Western Digital (WDC), we each rose despite the 0.8% drop in the Nasdaq Composite Index. Seagate shares rose $1.13, or 4%, to close at $28.50, while Western stock ended up 55 cents, or 1.4%, at $39.57. While there...
Apple: Raymond James Starts at Strong Buy, $800 Target
Raymond James‘s Tavis McCourt this afternoon initiated coverage of Apple (AAPL) with a Strong Buy rating and an $800 price target, as part of the acquisition of his firm, Morgan Keegan, by Raymond James. McCourt reiterates some prior thoughts on the company, namely that it is to the “Post-PC” world what Microsoft (MSFT) was to...
GOOG: ‘C’ Shares Could Sell-Off Post Split, Says JP Morgan
JP Morgan‘s Internet analyst Doug Anmuth late Friday offered up some further thoughts regarding Google‘s (GOOG) proposed stock split via a stock dividend, announced last Thursday, and specifically how it will play out in terms of inclusion in the major stock indices. According to JP Morgan’s “Delta One Strategist,” Min Moon, Standard & Poor’s will...
GOOG Rising: Q1 Rev Misses, EPS Beats; Sets New Class of Stock
Google (GOOG) this afternoon reported Q1 revenue below consensus but beat on the bottom line. It also said it would split its stock two-for-one via a new class of shares to be distributed to shareholders. Revenue in the three months ended in March rose 24% to $8.14 billion, after subtracting Google’s cost to acquire traffic,...
Google’s Page Sees Company’s ‘Soul’ Intact, Says Bloomberg Biz Week
In case you missed it, Bloomberg Businessweek‘s Brad Stone today offers up a Q&A with Google (GOOG) CEO Larry Page, roaming over a number of topics, from the competition in tablet computers to his job improving the “accountability” of the company’s Android efforts. Of Android, Page includes it among “long-term bets” the company has made,...
VOD: Devenport Cuts to Hold on European Malaise
Drake Johnstone of Davenport & Co. today cut his rating on shares of Vodafone Group (VOD) to Neutral from Buy, and cut his price target to $30 from $32, writing that Europe’s recession and an EU mandate for carriers to cut roaming and interconnection fees will push down revenue this year. Johnstone models Vodafone revenue...
HP Raises Dividend 10%
Hewlett-Packard (HPQ) this afternoon announced via a filing with the Securities & Exchange Commission that its board approved raising the quarterly dividend by 10% from the existing level of 12 cents per share per quarter, starting with the dividend to be declared in May. HP shares were down 2 cents at $23.61 in late trading....
