RealTime IT News

Earnings Season Swings Into High Gear

Earnings season begins in earnest this week, with a number of high-profile technology companies reporting first-quarter results.

IBM and Yahoo will kick things off Tuesday night. Analysts are looking for earnings of $1.05 a share on sales of $20.72 billion from Big Blue, according to Thomson First Call. Yahoo is expected to report earnings of 11 cents a share on a 31.5% increase in sales to $1.08 billion. Motorola and Texas Instruments will also report their quarterly results Tuesday night. TI reaffirmed its financial guidance last month.

Apple , eBay and Intel will release their numbers after the close on Wednesday. Intel warned last month that its sales will come in below estimates. Analysts are looking for the chip giant to report earnings of 23 cents a share on sales of $8.93 billion, down 5.3% from the year-ago quarter.

Apple warned back in January that its March quarter numbers would come in below estimates. Analysts expect earnings of 43 cents a share on sales of $4.54 billion, up 40% from the year-ago quarter. eBay is forecast to earn 24 cents a share on a 34.5% increase in sales to $1.39 billion.

Google will report its numbers Thursday night. The search giant shocked Wall Street in late January by missing estimates, but the stock has rebounded recently on its inclusion in the S&P 500. Analysts are looking for earnings of $1.97 a share on an 84.6% increase in revenues to $1.47 billion.

Stocks fell Monday after oil prices closed above $70 a barrel.

The Nasdaq fell 15 to 2311, the S&P 500 lost 4 to 1285, and the Dow fell 63 to 11,073. Volume declined to 1.77 billion shares on the NYSE, but rose to 1.83 billion on the Nasdaq. Decliners led 18-14 on the NYSE, and 18-13 on the Nasdaq. Downside volume was 58% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 118-191 on the NYSE, and 130-61 on the Nasdaq.

PacificNet and Infosys gained on their results.

Bookham tumbled 27% on a warning.

Red Hat lost 7% on a Goldman Sachs downgrade over possible competition with Oracle .