NEW YORK -- Jabil Circuit (JBL), the electronics manufacturing services company, missed Wall Street's expectations Tuesday in its latest quarterly results.
Jabil posted core earnings of $113.3 million, or 54 cents a share, in its fiscal fourth quarter ended in August on revenue of $4.34 billion, below the average estimate of analysts for a profit of 58 cents a share.
Jabil also forecast weak first-quarter results. It expects core earnings of 51 cents to 62 cents a share, below analysts' expectations of 67 cents a share.
The company also announced a $100 million buyback program.
Yahoo! (YHOO), the Internet giant, named Ken Goldman as chief financial officer. . Goldman replaces Tim Morse, who had been with Yahoo! for more than three years. Morse is expected to leave the company this fall. Goldman most recently served as financial chief of Fortinet (FTNT). Yahoo! Hires Fortinet's Goldman as New CFO
Bookseller Barnes & Noble (BKS) rolled out its new Nook HD line on Wednesday. The new Nook HD will come in two sizes, one with a 7-inch screen, starting at $199, and one with a new 9-inch diagonal screen, called the Nook HD+, starting at $269.
IBM (IBM) plans to announce Wednesday it will ramp up its efforts to sell so-called cloud computing services to mid-size businesses, The Wall Street Journal reported. The move by IBM puts it in direct competition with companies like Amazon.com (AMZN)and Salesforce.com (CRM), which have been successful in the mid-market, the Journal noted. Meanwhile, IBM President and CEO Virginia Rometty is taking on the added role of chairman, as Samuel Palmisano prepares to retire at the end of this year. IBM said Rometty will take on the expanded role Oct. 1. The Digital Skeptic: Amazon Dries Up Under California Tax Heat
HB Fuller (FUL), the global industrial adhesives manufacturer, is expected by analysts Wednesday to post third-quarter earnings of 53 cents a share on revenue of $514.9 million. -- Written by Joseph Woelfel
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