SAN FRANCISCO Palo Alto Networks Inc. , on Thursday, reported a fiscal first-quarter loss of $ 3.5 million, or 5 cents a share, on revenue of $ 85.9 million, compared with a profit of $ 4.1 million, or breakeven on a per-share basis, on $ 57.1 million in sales in the same period a year ago. Excluding one-time items, the network-security technology company would have earned $ 2.9 million, or 4 cents a share. Analysts surveyed by FactSet had forecast Palo Alto Networks to earn 3 cents a share, on $ 83.7 million in revenue. The company didn’t immediately give [...]
LOS ANGELES The final reading for HSBC’s closely watched China manufacturing Purchasing Managers’ Index came in slightly stronger than the preliminary reading, printing at 50.5 on Monday from an initial 50.4. The data confirmed the index’s rise above the 50 level — which divides expansion from contraction — for the first time in 13 months. The HSBC China PMI’s final October reading was 49.5. Over the weekend, the government-sponsored version of the China manufacturing PMI for November came in at 50.6, up from 50.2 in October and just shy of economists’ expectation for a 50.8 reading. Mainland China’s benchmark Shanghai [...]
NEW YORK Electronics retailer Best Buy Co. said Tuesday that it swung to a fiscal third-quarter loss of $ 10 million, or 3 cents a share, from a profit of $ 156 million, or 43 cents, a year earlier. Excluding restructuring charges, the company said it earned 3 cents a share. Revenue in the quarter ended Nov. 3 fell to $ 10.75 billion from $ 11.1 billion. Analysts surveyed by Thomson Reuters were looking for a profit of 12 cents a share on revenue of $ 10.73 billion. Comparable store sales fell 4.3%. Best Buy shares fell 3.6% in premarket trading.
HONG KONG China’s manufacturing activity expanded in October after two months of contraction, according to an official gauge of purchasing managers’ index released Thursday. The monthly manufacturing PMI printed at 50.2, slightly lower than the forecast of 50.3 in a Reuters poll of economists, but higher than the 50-point level, according to data released jointly by the China Federation of Logistics and Purchasing and the National Bureau of Statistics. The official PMI had come in at 49.8 in September. A reading above 50 indicates an improvement, while one below shows a deterioration.
SAN FRANCISCO Advanced Micro Devices reported a deep net loss for the third quarter on Thursday afternoon, and announced a restructuring program that will result in the layoffs of 15% of its total workforce, or about 1,770 people. “It is clear that the trends we knew would re-shape the industry are happening at a much faster pace than we anticipated,” CEO Rory Read said in a statement. The PC chipmaker reported a loss of $ 157 million, or 21 cents a share, for the third quarter compared to earnings of $ 97 million, or 13 cents a share, for the [...]
SAN FRANCISCO Research In Motion Ltd. swung to a loss for the second fiscal quarter on a sharp drop in revenue, but the results beat Wall Street’s expectations for the period, giving the stock a boost in after-hours trading. For the period ended Sept. 1, RIM reported a net loss of $ 235 million, or 45 cents a share, compared with net income of $ 329 million, or 63 cents a share, for the same period last year. Adjusted for the company’s on-going restructuring program, net loss for the recent period was $ 142 million, or 27 cents a share. [...]
SAN FRANCISCO JDSU on Tuesday reported a fiscal fourth-quarter loss of $ 24.3 million, or 10 cents a share, compared with a profit of $ 9.3 million, or 4 cents a share, for the year-earlier period. Revenue was $ 439.3 million, down from $ 471.8 million. Adjusted profit was 15 cents a share. Analysts were expecting a profit of 12 cents a share, on revenue of $ 421.6 million, according to a consensus survey by FactSet. For the current quarter, the company is expecting adjusted revenue in the range of $ 415 million to $ 435 million. Analysts were expecting [...]
THE UNITED KINGDOM – Harley-Davidson Incorporation on Wednesday referred to which receiving a pitch towards a fourth-quarter gain continuous with bucks 1057 million, or even fouthy-six dollars a little arrange of share, from your losing bucks 468 million, or even thirty dollars a little arrange of share, a single year before. Product sales lifted to be means to bucks 102 million by bucks 9171 million, inside a year-ago time period. Forgetting finished operations, Harley davidson common distinction continuous with twenty-eight dollars a little arrange of speak about. Industry analysts polled simply by FactSet Homework were anticipating to find an income continuous with twenty-five dollars a little [...]