NEW YORK, October 19, 2012 - Marketsareopen, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Microsoft Corporation , General Electric Company, Marvell Technology Group, Cisco Systems, Sprint Nextel.
Microsoft Corporation(NASDAQ:MSFT) late Thursday reported a 22 percent drop in earnings for the September quarter as sales of personal computers showed a downward trend. The world's largest software maker reported net income at $4.47 billion, or 53 cents a share, compared to $5.74 billion, or 68 cents a share, for the year-earlier period.
Revenue was $16 billion, down 8 percent from $17.37 billion a year before. Analysts had expected the company to report 56 cents a share as earnings on revenues of $16.42 billion.Should Investors Buy MSFT After The Earnings? Find Out http://marketsareopen.com/reports/index.php?company=MSFT
While some kind of a slowdown was expected from Microsoft, figures released by the company disappointed investors and analysts. Shares in the company fell more than 1 percent after the news and then pulled back a bit to close down 0.32 percent at $29.50 a share.
General Electric Company(NYSE:GE) stock dropped 2.89% to $22.15 after the company reported a third-quarter profit of $3.49 billion, or $0.33 a share, versus $3.22 billion, or $0.22 a share, a year earlier. Operating earnings were 36 cents a share. Analysts had expected per-share earnings of 36 cents.
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Additionally, the company trimmed it forecast for total revenue growth this year to 3%, after reiterating a previous forecast for 5% full-year growth just three weeks ago.
Marvell Technology Group Ltd.(NASDAQ:MRVL) shares declined 14.38% to $7.56 after the company cut its third-quarter revenue estimates as the weakness in the global economy weighs on demand and the company also disclosed Chief Financial Officer Clyde Hosein has resigned. The company now projects revenue between $765 million to $785 million, compared with its already downbeat view of $800 million to $850 million.
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Additionally, the company also said Corporate Controller Brad Feller will serve as interim CFO during a search for Mr. Hosein's replacement. Mr. Hosein had been with Marvell company for four years and will assist the company during the transition period.
Cisco Systems, Inc.(NASDAQ:CSCO) shares fell 2.77% to $18.08 in the early hour after Cantor Fitzgerald lowered shares of Cisco from a buy rating to a hold rating in a research report released this week. Cantor Fitzgerald currently has $19.50 price target on the stock, down from their previous price target of $20.50. The analysts noted that the move was a valuation call.
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Additionally, Cisco and Citrix announced an expansion of their desktop virtualization partnership into three strategic areas: cloud networking, cloud orchestration and mobile workstyles, the companies announced at Citrix Synergy conference in Barcelona.
Sprint Nextel Corporation(NYSE:S) shares declined 1.38% to $5.70 in the morning hour after the company has acquired a majority interest in Clearwire Corp after buying a stake from one of the Company's other shareholders. Sprint reached the deal with Eagle River Holdings on October 17, 2012 and now controls a 50.8% stake in Clearwire, the filing said. For purposes of the deal, Sprint paid the equivalent of $2 per Class A share for Eagle River's 30.9 million shares. Sprint also purchased fractional interests in some Class B shares, which added to the price. In total, Sprint said it would pay $100 million for the acquisition.
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