Stocks to Watch: Yahoo!, Intel, Bank of America

NEW YORK -- Yahoo! ( YHOO), the Internet giant, posted quarterly earnings that beat Wall Street expectations, but revenue continued to move in the wrong direction and guidance came in short of estimates.

Yahoo! reported first-quarter non-GAAP earnings of 38 cents a share on revenue of $1.14 billion, excluding traffic acquisition costs. Including TAC, sales were $1.07 billion.

The company noted display revenue ex-TAC was $402 million for the first quarter of 2013, down 11% from last year. Search revenue also declined, coming in at $425 million, down from $470 million in the first quarter of 2012.

Analysts expected Yahoo! to earn 24 cents a share on $1.1 billion in revenue for the first quarter.

Yahoo!'s second-quarter guidance came in below estimates. Excluding TAC, revenue is expected to be between $1.06 billion and $1.09 billion, with non-GAAP operating income between $190 million and $210 million. Analysts polled by Thomson Reuters are looking for sales of $1.12 billion.

Yahoo! Plunges as Outlook Disappoints


Intel ( INTC) topped Wall Street's first-quarter sales estimates but earnings were below forecasts.

The chipmaker earned 40 cents a share, down from 53 cents a share in the prior year's quarter. Intel reported revenue of $12.6 billion, compared to $12.9 billion for the same period last year. Analysts were looking for earnings of 41 cents a share and revenue of $12.59 billion.

For its fiscal second quarter, Intel expects revenue of $12.9 billion, plus or minus $500 million, broadly in line with Wall Street's forecast of $12.85 billion. Intel also predicts a gross margin of 58%, plus or minus a couple of percentage points.

Intel Beats Topline Estimate on Chip Sales


Bank of America ( BAC) is expected by analysts on Wednesday to post first-quarter earnings of 22 cents a share on revenue of $23.4 billion.

Most of Bank of America's turnaround depends upon the U.S. housing recovery, which has lately shown some signs of slowing.

Bank of America Earnings Seen Muted


American Express ( AXP) is expected by Wall Street on Wednesday to report first-quarter profit of $1.12 a share on revenue of $8.03 billion.


EBay ( EBAY), which reports Wednesday after the closing bell, is forecast to post quarterly profit of 62 cents a share on revenue of $3.76 billion.


Abbott Laboratories ( ABT) is expected by Wall Street to report first-quarter profit of 41 cents a share on revenue of $5.42 billion.


Toy company Mattel ( MAT) is forecast to post earnings on Wednesday of 9 cents a share in the first quarter on revenue of $985.8 million.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

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