Company News for March 19, 2010 - Corporate Summary
• Perry Ellis (NASDAQ:PERY) posted fiscal fourth quarter earnings a nickel above estimates at 64 cents versus a loss of $1.58 a year ago, on revenues of $196.4 million, slightly under estimates of $198.91 million. The retailer said it sees fiscal 2011 earnings of $1.25 to $1.40
• According to the China Business News, Google (NASDAQ:GOOG) may withdraw from its China internet search operations in April. The report said an announcement by Google on Monday is possible
• Piper Jaffray (NYSE:PJC) raised its price target on GameStop (NYSE:GME) to $18 from $16 while keeping a neutral stance on the shares
• Goldman Sachs (NYSE:GS) upgraded shares of Best Buy (NYSE:BBY) to "buy" from "neutral," increasing the price target from $44 to $47
• Palm (NASDAQ:PALM) shares surged 5.2% in Thursday trade until its fiscal third quarter results and conference call comments caused a 15.2% fall in pre-market trade Friday. Third quarter results, a 61 cent loss, compared with Zacks estimates of 41 cents loss. The company said it expects fourth quarter revenue of under $150 million. Several firms, including Piper Jaffray (NYSE:PJC) and Deutsche Bank (NYSE:DB) lowered their target prices for the shares
• SunPower (NASDAQ:SPWRA) posted fiscal fourth quarter earnings of 47 cents ex-items on revenues of $547.9 million, up 38%. Consensus estimates were 49 cents on revenues of $490.9 million. The firm expects a breakeven fiscal first quarter on revenues of $330-$350 million. Projections for 2010 were set at $1.25-$1.65. Accounting problems in the Philippines will result in adjustments for past two year results
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
