LeapFrog Warns on 3Q, Year Profit View
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LeapFrog Enterprises Inc., a developer of technology-based educational products, on Monday lowered third-quarter and full-year profit expectations, citing difficult market conditions.
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Careful followers of search-engine giant Google surely took note this morning of reports that the company is reiterating an earlier warning that its future growth could fall below expectations.  As the BBC News reported, the company "has warned that fiercer competition is set to hit sales growth. The firm, which had a successful share flotation earlier this year, said its rate of growth from the second quarter to the third may not be sustainable."
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Earnings season is in full swing, and results this week from bellwethers like Google, Intel, and Nokia are fueling hopes for a strong fourth quarter while confirming the investor confidence that has led to a rebound in share prices of technology vendors.All eyes were on&#160;Google, which Thursday reported another stellar quarter. For the third quarter, net income was $1.07 billion compared with $733.4 million a year ago. Revenue leaped 57 percent to $4.23 billion. The company has made some investors nervous by expanding rapidly and spending a lot of money on acquisitions to fuel growth in new areas. However, its core search business manages to ward off the competition. Google shares jumped $6.14 to $639.62 right after its announcement.Google archrival&#160;Yahoo reported a 4.6 percent decline in third-quarter profit&#160;compared to a year ago Tuesday, but revenue climbed 12 percent to $1.76 billion. Company executives said they were weeding out poorly performing services and enhancing efforts in promising areas&#160;like ad-supported music services and e-mail offerings to small businesses. The company is also expanding efforts to support third-party developers with open APIs.Even though Yahoo has been blasted for its failure to steal search ad revenue from Google, investors and analysts appear to like its strategy. Citigroup maintained a &quot;buy&quot; rating on the company while RBC maintained an &quot;outperform&quot; rating. Yahoo shares jumped $2.13 to close at $28.82 the day after the report.The market might be tougher on Internet retailers. eBay reported Wednesday that revenue climbed 30 percent but that it suffered a loss because of a $1.39 billion charge for&#160;its acquisition of Internet phone pioneer Skype. Although the company raised its 2007 revenue target, investors apparently did not like the charge for Skype, which failed to make revenue goals. Shares of eBay lost $2.50 to close at $38.10 Thursday.In one of the most-anticipated results of the week,&#160;Intel got the earnings season off to a good start Tuesday, reporting revenue of $10.1 billion, a 15 percent increase year-over-year, while achieving net income of $1.9 billion, a whopping 43 percent increase. The price competition in the market is tough, but a jump in sales and a restructuring effort appears to be paying off. Intel jumped $1.24 to close at $26.72 the day after the report.AMD did not handle the price competition so well, however. Though it registered a 23 percent rise in sales, it posted another loss. Thursday,&#160;AMD reported that its net loss was $396 million, compared with a profit of $136 million in 2006.Reaction to IBM results were mixed Tuesday, when&#160;it reported profit of $2.36 billion, compared to $2.22 billion a year ago. Revenue was $24.1 billion, a 7 percent increase from last year. Though the numbers were better than expected, a disappointing 10 percent slip in hardware sales worried investors, who pushed down IBM shares Tuesday by $3.82 to close at $115.78.Nokia managed to offset declining prices of handsets with a jump in sales. Thursday it said that for the three months ending Sept. 30, net profit increased 85 percent over the third quarter of 2006, while sales rose 28 percent. Nokia shares closed Thursday at $37.64, up by $1.11.Concerns about the U.S. economy -- because of a declining housing market and an increase in mortgage defaults -- caused shares to tumble in July and August. But judging from results this week, IT vendors were not hard hit during the quarter and investors are likely to have high expectations for the rest of the year.
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Google Inc. Thursday warned that the growth it has showed so far this year may not be sustainable.
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Bristol-Myers Squibb (nyse: BMY - news - people ) will report third-quarter earnings. Analysts surveyed by Thomson First Call expect the pharmaceutical maker to earn 39 cents per share compared with 47 cents a year ago.
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Third quarter U.S. corporate earnings are expected to show a lower increase next week, weighed down by consumer and financial sectors, Reuters Estimates said on Monday.
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Texas Instruments Inc.  posted  a lower quarterly profit on weak demand for its calculators,  and gave a disappointing revenue forecast for the third  quarter, sending shares down 3 percent on Monday.
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Tom Online (TOMO:Nasdaq - news - research) sank Friday after slashing its third-quarter revenue guidance. The company warned that it expects sales for the third quarter ended Sept.
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The Stocks in the News on the DataBank page last Sunday contained incorrect labels for the stocksâ estimated price-to-earnings ratios. They were for 2008, not 2007.
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Ailing British supermarket group Sainsburyâs showed a further deterioration in its performance today after its third profits warning this year.
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A few thoughts on the earnings warning.
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US aluminium giant Alcoa warns its third quarter profits will fall below expectations, blaming restructuring costs, a fire and a strike.
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Irish low-cost airline Ryanair warned on Monday that its profits could be slashed next year after reporting a 27-percent plunge in third-quarter earnings owing to rising fuel prices.
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Unilever has reported a three percent rise in third-quarter earnings but warned it is reviewing its targets up to 2010, after issuing a shock profits warning last month.
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Big Lots Inc. (BLI.N: Quote, Profile, Research) on Wednesday forecast a larger-than-expected third-quarter loss and said full-year profit could also fall short of Wall Street&#39;s
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NEW YORK - Stocks moved narrowly higher in early trading Monday as investors discounted another technology profit warning and focused instead on positive outlooks for third- and fourth-quarter earnings.    While some investors were concerned that rising energy prices would undermine third-quarter results for many companies, a new report by J.P...
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Wall Street investors will get their  first glimpses in September of how companies performed in the  third quarter, and financial experts say don't look for too  many positive earnings surprises.