Even with the markets beaten down, HP should beat the street today when it reports earnings after the closing bell. PC sales have been booming, growing double digits. The average analyst expects HP to beat by 2 to 3 cents. With strong growth expected and future growth continuing upwards, most have this stock as […]
Deere & Co. posted a record third quarter today and raised its earnings forecast for the year. Net income grew 23% to $537.2 million, or $2.37 per share, for the quarter that ended July 31. This was up from $436 million, or $1.85 per share from July 31, 2006.
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Accredited Home Lenders (LEND) was up over 20% on deal talks with Lone Star. LEND is holding Lone Star to the acquisition deal. Lone Star reported late Tuesday that they have extended the $400 million acquisition deadline by two weeks.
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Retail giant Wal-Mart cut its profit outlook today after citing weak economic conditions that are damping consumer spending. Wal-Mart’s profits jumped 49% for the second quarter.
This came at the same time that Home Depot reported nearly a 15% drop in its second quarter sales after alluding to the weakness in the housing market.
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Shares of VMware, the EMC spin-off, opened trading this morning. Shares were trading up 90% as high as $55 with an opening closer to $50 well over the target opening price of $42 and well over the IPO price of $29.
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The shares of VMware (VMW) were priced today at $29. This values the raise of VMware, the software unit of EMC, at $957 million, pricing at the high end of the forecasted range. The implied market capitalization of VMware is $10.9 billion, making VMware Inc. one of the world’s largest software makers.
Share of EMC were trading up $19.35 […]
