There are a few days left in the quarter still, but Goldman Sachs is already saying it expects strong numbers from Yahooand Googlewhen they report quarterly results in a few weeks.
Goldman analyst Anthony Noto upped his estimates on Yahoo and maintained his bullish forecast on Google. His estimates for both companies are now above the Wall Street consensus.
Noto expects Yahoo to reports first-quarter earnings of 13 cents a share on revenues of $805 million, compared to Wall Street estimates of 11 cents and $795.5 million. For Google, he expects earnings of 98 cents a share on revenues of $776 million, compared to the consensus estimate of 91 cents and $728.5 million.
“Our higher estimates are based on numerous channel checks with advertisers and media buyers that indicate stronger than expected trends in branded and continued strong trends in paid search,” he wrote.
Yahoo reports its first-quarter results on April 19, and Google follows two days later.
Stocks started out strong and faded once again on Monday, but managed to finish the day with small gains, as investors remained nervous about inflation ahead of Friday’s monthly jobs report.
The Nasdaq added 1 to 1992, the S&P 500 rose 2 to 1174, and the Dow gained 42 to 10,485. Volume declined to 1.71 billion shares on the NYSE, and 1.54 billion on the Nasdaq. Decliners led 18-14 on the NYSE, and 16-14 on the Nasdaq. Downside volume was 56% on the NYSE, and 46% on the Nasdaq. New highs-new lows were 36-72 on the NYSE, and 54-86 on the Nasdaq.
Sungardsurged 9% on a buyout offer.
MCIslipped on reports that the board is meeting to consider buyout offers from Qwestand Verizon. Qwest said it wants a decision by April 5.
Lexarfell 17% on a patent damage award that was less than expected.
Digital Impactsoared 50% on news that the company will be acquired by Acxiom.
Netflixjumped 8% on strong subscriber growth.
Extended Systemsclimbed 13% on a deal with Qualcomm.
Solectronlost 13% on a warning, and All-American Semiplunged 22% on its results.