reported second-quarter earnings of 58 cents, including a loss of $7 million, far short of the 22-analyst estimate of 74 cents, but up from the year-ago 8 cents which also includes a charge. Micron said that average selling prices for its semiconductor memory products fell 20% in the second quarter from the first quarter. Gross margins of the company's semiconductor operations fell to 41% from 58% in the previous quarter. The stock was punished in after-hours trading, falling 11 1/4, or 8.6%, to 119 1/4 on 147,000 shares on
For more on Micron's
results, see a separate story from
In other postclose news (
earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified
Earnings/revenue reports and previews
posted second-quarter earnings of 54 cents a share, in line with the five-analyst estimate and up from the year-ago 47 cents.
reported fourth-quarter earnings of 41 cents a share, a penny better than the 10-analyst estimate and up from the year-ago 31 cents.
posted first-quarter earnings of 68 cents a share, a penny ahead of both the three-analyst estimate and the year-ago figure.
posted third-quarter earnings of 40 cents a share, in line with the nine-analyst estimate and up from the year-ago 35 cents, which included a gain of 1 cent.
posted a third-quarter pro forma loss of 14 cents a share, narrower than the six-analyst expected loss of 18 cents, but wider than the year-ago pro forma loss of 11 cents.
warned it will miss expectations for the fourth quarter and full year, hurt partially by higher-than-anticipated operating costs. The five-analyst estimate is 46 cents for the quarter and $1.91 for the year. Movado said it expects to report a fourth-quarter net loss, before items, in the range of 21 cents to 25 cents a share on a diluted basis.
said it sees first-quarter earnings 2 cents ahead of expectations due to strong sales. The current two-analyst estimate calls for earnings of 3 cents a share.
Santa Cruz Operation
said its second-quarter sales will be significantly lower than the company originally anticipated because of continuing Y2K-related delays and other effects. The company said it expects significant second-quarter losses and fiscal year results below the originally estimated 60 cents a share. Santa Cruz also said it is splitting into three independent divisions focused on e-business servers, Tarantella and Internet professional services.
said it expects sales of $95 million to $98 million for the first quarter, falling below analyst estimates. On average, analysts had been forecasting sales of $103.5 million. Zebra also set a buyback of up to 2 million common shares.
Offerings and stock actions
set a 3-for-2 stock split.
priced 3.5 million shares of
at $12 each, above the expected $9 to $11 range. InSilicon, which is a unit of
, uses communications technology to design complex semiconductors for devices such as network routers and cell phones.
Pratt & Whitney
$3 million as part of a settlement of patent infringement and a trade secret misappropriation lawsuit, the companies said. The settlement ends a decade-long litigation between the companies.
New York Times
said venture capital firms
Highland Capital Partners
Chase Capital Partners
have bought $40 million of its three-year convertible debt for undisclosed terms.
said most of its afternoon and evening departures were delayed indefinitely after a construction crew severed a communications cable near the company's Minneapolis-St. Paul hub airport.
is withdrawing its controversial diabetes drug Rezulin from the U.S. market. The
Food and Drug Administration
said that the company had agreed to an FDA request to pull the drug, which had been linked to fatal liver failure.