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Applied Materials Beats Estimates; Guidance Disappoints

Shares of chip and display maker Applied Materials, Inc. (NASDAQ: AMAT - $43.41) are tumbling despite a beat on the top and bottom line as it issued weaker-than-expected guidance for the fiscal fourth quarter. AMAT reported fiscal third-quarter net income of $1.17 billion compared with $925 million in the year-ago period. Adjusted for items related to acquisitions… Continue reading Applied Materials Beats Estimates; Guidance Disappoints

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Cerner Reports Third Quarter Results; Hikes Guidance

Health care information technology provider Cerner Corp. (NASDAQ: CERN - $66.16) reported second quarter revenue of $1.368 billion, up from $1.292 billion in the year ago quarter and better than the analyst consensus of $1.33 billion. Adjusted earnings were $207.0 million, compared to $205.5 million in the second quarter of 2017.  Earnings per share totaled $0.62 on an adjusted basis compared to $0.61 in… Continue reading Cerner Reports Third Quarter Results; Hikes Guidance

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Harris Reports Strong Fourth Quarter Results; Raises Guidance

Communications and technology provider Harris Corp. (NYSE: HRS - $158.14) said fourth quarter of fiscal year 2018 revenue rose 8% from the comparable quarter a year ago to $1.67 billion, while orders rose 18% to $1.86 billion. Analysts were expecting revenue of $1.62 billion. Both the company's communications systems and electronic systems segments led to growth in Harris's… Continue reading Harris Reports Strong Fourth Quarter Results; Raises Guidance

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ON Semi Beats Street Views

ON Semiconductor Corp. (NASDAQ: ON - $22.06) reported revenue of $1.456 billion, up about 9% from a year ago and earnings per share of $0.46 compared to $0.36 in last year’s second quarter.  Wall Street was expecting earnings of $0.45 per share on revenue of $1.43 billion. Gross margin was 38.1% and ON generated $115.6 million… Continue reading ON Semi Beats Street Views

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Newmont Reports Second Quarter Results; Adds New Mine Project

Gold and copper producer Newmont Mining Corp. (NYSE: NEM - $36.94) reported adjusted net income of $144 million or $0.26 per share for the second quarter, compared to $248 million or $0.46 per share in the prior year, but two cents higher than Street estimates. Primary adjustments to net income include $0.18 per share related to the sale of the company's royalty portfolio and $0.08 per share… Continue reading Newmont Reports Second Quarter Results; Adds New Mine Project

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International Paper Tops Expectations

Memphis-based International Paper Co. (NYSE: IP - $51.47) reported second quarter 2018 net earnings of $405 million compared $80 million the second quarter of last year. On an adjusted basis, IP earned $1.19 per share up 80% from last year’s $0.66 and ten cents better than Street consensus. Total revenue increased to $5.83 billion from $5.38 billion and beat the… Continue reading International Paper Tops Expectations

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Gilead Beats Views and Raised Guidance; CEO to Step Down

Shares of biotechnology firm Gilead Sciences (NASDAQ: GILD -$78.92) are weaker in extended trading as the drug maker announced the resignation of its chief executive even though it posted stronger-than-expected quarterly results. Gilead reported its second-quarter net income fell to $1.82 billion from $3.07 billion a year earlier. On an adjusted basis, it earned $1.91 a share, well above analysts’ projections… Continue reading Gilead Beats Views and Raised Guidance; CEO to Step Down