Wall Street Journal Digest 7/21/2006.
Stocks: (GOOG)(MSFT)(AMD)(BRCD)(HAL)(NOK)(PFE)(TM)(GM)(AMGN)(DJ)
The Wall Street Journal reports that Google's net doubled to $721 million. Revenue rose 77% to $2.46 billion. Google's share of the search market in the US rose to 48% during that quarter compared to 31% for Yahoo! and 14% for Microsoft.
The WSJ writes that Microsoft's profits fell 24% to $2.84 billion most due to legal expenses. Revenue rose 16% to $11.8 billion. The company also announced a stock tender offer of $20 billion and a stock buyback program of as much as another $20 billion that will run through 2011. The company also said that it would spend $1.5 billion in new product development over the next fiscal, ending June 30, 2007.
The Wall Street Journal writes that Advanced Micro Devices's revenue rose 53% to $1.22 billion excluding results from its memory chip business, Spansion, which is now an independent business. Spansion, which makes flat memory products for cell phones had a 42% increase in sales to $655 million.
The WSJ also reports that Brocade's former CEO was charged with securities fraud in the stock option backdating scandal. More than 80 firms are now under investigation for the practice of changing option grant dates.
The WSJ writes that Halliburton's net jumped 51% to $591 million on increased demand for oil field services.
The WSJ also writes that Toyota said that it has no interest in an alliance with GM. There had been press reports about Toyota's possible interest in the wake of the Nissan and Renault overtures to GM.
The WSJ also reports that Pfizer's net income fell 30% to $2.42 billion, but revenue increased nearly 3% to $11.74 billion. Results from Pfizer's consumer unit which is being sold to Johnson & Johnson were reported as discontinued operations. Sales of drug Lipitor rose 9%.
The Wall Street Journal also writes that profits at its parent Dow Jones were up to $28.8 million on ad strength in the US edition of the WSJ and stronger online sales. Revenue rose 6% to $481 million. At Dow Jones Online, including internet verions of WSJ and Barron's as well as MarketWatch, ad revenue grew 23%.
The WSJ also reports that Amgen's earnings fell 99% on a charge related to its purchase of Abgenix, Inc. Without acquisition related costs, Amgen's profit rose 12% and revenue was up 14% to $3.6 billion. Sales of the company's anemia drup, Aranesp, helped drive results.
The Wall Street Journal writes that Nokia's profits rose 43% driven by demand for high-end phones with music and camera functions.Net profit hit $1.44 billion.
Douglas A. McIntyre
The Wall Street Journal reports that Google's net doubled to $721 million. Revenue rose 77% to $2.46 billion. Google's share of the search market in the US rose to 48% during that quarter compared to 31% for Yahoo! and 14% for Microsoft.
The WSJ writes that Microsoft's profits fell 24% to $2.84 billion most due to legal expenses. Revenue rose 16% to $11.8 billion. The company also announced a stock tender offer of $20 billion and a stock buyback program of as much as another $20 billion that will run through 2011. The company also said that it would spend $1.5 billion in new product development over the next fiscal, ending June 30, 2007.
The Wall Street Journal writes that Advanced Micro Devices's revenue rose 53% to $1.22 billion excluding results from its memory chip business, Spansion, which is now an independent business. Spansion, which makes flat memory products for cell phones had a 42% increase in sales to $655 million.
The WSJ also reports that Brocade's former CEO was charged with securities fraud in the stock option backdating scandal. More than 80 firms are now under investigation for the practice of changing option grant dates.
The WSJ writes that Halliburton's net jumped 51% to $591 million on increased demand for oil field services.
The WSJ also writes that Toyota said that it has no interest in an alliance with GM. There had been press reports about Toyota's possible interest in the wake of the Nissan and Renault overtures to GM.
The WSJ also reports that Pfizer's net income fell 30% to $2.42 billion, but revenue increased nearly 3% to $11.74 billion. Results from Pfizer's consumer unit which is being sold to Johnson & Johnson were reported as discontinued operations. Sales of drug Lipitor rose 9%.
The Wall Street Journal also writes that profits at its parent Dow Jones were up to $28.8 million on ad strength in the US edition of the WSJ and stronger online sales. Revenue rose 6% to $481 million. At Dow Jones Online, including internet verions of WSJ and Barron's as well as MarketWatch, ad revenue grew 23%.
The WSJ also reports that Amgen's earnings fell 99% on a charge related to its purchase of Abgenix, Inc. Without acquisition related costs, Amgen's profit rose 12% and revenue was up 14% to $3.6 billion. Sales of the company's anemia drup, Aranesp, helped drive results.
The Wall Street Journal writes that Nokia's profits rose 43% driven by demand for high-end phones with music and camera functions.Net profit hit $1.44 billion.
Douglas A. McIntyre
posted by douglas mcintyre at 5:08 AM
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