Archive for January 25th, 2010

VMware beats 4Q expectations; shares surge (AP)

Virtualization software maker VMware Inc. said Monday its fourth-quarter net income fell by half but that it expects a big revenue boost in the first quarter and beyond thanks to pent-up demand.

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Apple margins smash Street view on record iPhone sales (Reuters)

Apple Inc reported much better-than-expected quarterly margins on record sales of iPhones and Mac computers, driving a big jump in quarterly revenue and earnings.

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Wall Street up as Bernanke support firms; Apple reports (Reuters)

Stocks snapped a three-day slide on Monday as signs that Federal Reserve Chairman Ben Bernanke would win a U.S. Senate vote for a second term helped ease investors’ concerns.

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Business Highlights (AP)

Sales of previously occupied homes rose in 2009 for the first time in four years, despite a December slump that was due to a tax credit that had caused many buyers to complete sales earlier.

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Amgen 2010 forecast shows potential upside (Reuters)

Amgen Inc issued a 2010 forecast on Monday that showed potential to exceed Wall Street expectations, but the company’s slightly higher fourth-quarter profit came in shy of analyst estimates primarily due to higher expenses.

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AK Steel shares rise on strong 4Q profit, outlook (AP)

AK Steel Holding Corp. said Monday that increased demand, particularly from automotive customers, drove a better-than-expected fourth-quarter profit and predicted that stronger pricing will help the company drive growth in 2010.

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Johnson Controls shares rise after target boost (AP)

Shares of Johnson Controls Inc. finished higher Monday after an analyst raised his price target on the maker of automotive components and building efficiency products, citing the company’s better-than-expected first-quarter earnings report.

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AK Steel, Medifast, Quest Diagnostics big movers (AP)

The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:

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Bernanke support trickles in; vote seen by week’s end (Reuters)

The U.S. Senate looked likely to grudgingly approve Ben Bernanke to a second term as Federal Reserve chairman this week after the White House stepped in to defend his crisis-fighting record and rally votes.

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SunTrust shares down after Street cuts estimates (AP)

Shares of SunTrust Banks Inc. fell Monday as several analysts cut ratings and profit projections, despite the regional bank posting better-than-expected results for the 2009 fourth quarter.

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