For Immediate Release
Chicago, IL – November 6, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Cisco Systems (CSCO), Intel Corporation (INTC), Dell Inc. (DELL), Advanced Micro Devices Inc. (AMD) and Hewlett-Packard (HPQ).
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Here are highlights from Thursday’s AnalystBlog:
Cisco Beats, Guides Up
Cisco Systems’ (CSCO) first quarter 2010 earnings beat the Zacks consensus by 13 cents. Revenue beat by 3.1%. Both revenue and EPS were significantly better than the guided range.
Revenue of $9.02 billion was up 5.7% sequentially and down 12.7% year over year. Revenue was at the high-end of management’s guidance range of a year-over-year decline of 15-17%.
Products generated 80% of revenue, increasing 7.0% sequentially and declining 16.6% year over year. Order rates also strengthened, particularly in the U.S. , indicating continued revenue growth in the next quarter. Management stated that the company saw bottom in the fiscal fourth quarter, with improvement in the first. Results are likely to trend upward going forward.
Intel Charged in Antitrust Suit
The $6.0 billion payment made by the world’s largest chip maker Intel Corporation (INTC) over a five year period through January 2007 to its largest customer Dell Inc. (DELL) — under programs initially titled ‘MOAP’ (Mother of all Programs) and then ‘MCP’ (Meet Competition Payments) — has backfired on Intel.
This is the basis on which an antitrust lawsuit filed recently by the New York attorney general alleging a long business relationship between Intel and Dell. Andrew M. Cuomo filed a federal lawsuit against Intel, accusing the largest chip maker of paying computer makers illegal rebates for maintaining its monopoly and preventing another chip maker, Advanced Micro Devices Inc. (AMD), from gaining business with PC makers.
This is not the only allegation that has been filed against Intel. In a similar case earlier this year, the European Commission imposed a penalty of $1.45 billion on the company, alleging illegal rebates to PC makers such as Dell and Hewlett-Packard (HPQ). AMD also made analogous allegations in its case filed against Intel in June 2005 that is scheduled to come to trial in March 2010.
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