For Immediate Release
Chicago, IL – January 20, 2012 – Zacks.com announces the list of
stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include Google ( GOOG), IBM
( IBM), Microsoft ( MSFT), Intel
( INTC) and Freeport-McMoRan Copper & Gold
Inc. ( FCX).
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Here are highlights from Thursday’s Analyst
Blog:
Tech Titans Report Earnings
There were several big tech companies reporting earnings after
the close today. Let's take a look at four big names and the key
metrics for each.
Google ( GOOG) reporting non GAAP earnings of
$9.50 on net revenues of $8.1 billion. Paid Clicks saw a big jump
in 3Q11, up from 18% in 2Q to 28%. This quarter saw another strong
paid clicks number of 34%. This was considered a big miss and the
stock promptly dropped almost 10% or about 60 points.
Google goes not give any guidance, but it’s clear from this
report that the growth story is still intact. More details about
Google+, Android and Chrome will come out of the conference call.
We already know that there are more than 700,000 Android
activations each day, investors may look for that number to
increase... but we suggest they do not hold their breath on that
one.
IBM ( IBM) reported total revenue of $29,486,
up from $26,157 in 3Q11 and up slightly from $29,019 in 4Q10. We
drill down on both service lines, Tech and Business as well as
Software to determine the health of the quarter.
Tech Services came in at $10,452 up from $10,322 in 3Q11 and 1%
higher than the $10,165 reported in 4Q10.
Business software reported revenue of $4,877, compared to $4832
in the previous quarter and $4,758 in the year ago period.
Software revenue was $7648, up from $5817 in 3Q11 and $7,039 in
4Q10. Software generally contributes a higher amount to gross
margin.
Gross profit came at 49.9%, well ahead of last quarter’s 46.5%
and the year ago level of 49%.
Microsoft ( MSFT) is really the bellwether of
the tech sector. They are a key component in most every business
and their growth means the economy is growing. We look at total
revenue and break out its major parts to get a better feel.
Business Division Revenues were $6.28 billion, up from $5.62
billion in the most recent quarter and up from $6.03 billion in the
year ago period.
Sever & Tools posted sales of $4.77 billion vs. $4.25
billion in 3Q11 and $4.39 billion in 4Q10.
Windows & Windows Live Division saw revenues of $4.74
billion compared to 4.87 in the previous quarter and $5.05 in the
year ago period.
Recall that Mister Softee (as the traders call Microsoft) noted
that the Asian floods ended up hurting PC demand in 4Q11.
Intel ( INTC) had to face the above mention
floods in Asia which hurt demand and should slow down the supply
chain. When drilling down on INTC, we look at Revenue and gross
margins. Book to bill is not contained in the earnings
releases.
Revenue came in at $13.8 billion, down from $14.3 billion in
3Q11 and up from $11.5 billion in 4Q10.
Gross Margins were 64% slightly below last quarter’s 64.4% and
well below the year ago levels of 67.5%.
Freeport McMoRan Exceeds
Estimates
Freeport-McMoRan Copper & Gold Inc. ( FCX)
reported a profit of $640 million or 67 cents per share in the
fourth quarter of 2011 versus $1.5 billion or $1.63 per share in
the same quarter of 2010. The profit surpassed the Zacks Consensus
Estimate by 3 cents per share.
Revenues in the quarter were $4.2 billion versus $5.6 billion in
the prior-year quarter, surpassing the Zacks Consensus Estimate of
$3.8 billion. Consolidated sales from mines totaled 823 million
pounds of copper, 133,000 ounces of gold and 19 million pounds of
molybdenum compared with 941 million pounds of copper, 590,000
ounces of gold and 17 million pounds of molybdenum in the fourth
quarter of 2010.
Consolidated unit net cash costs (net of by-product credits)
averaged $1.57 per pound of copper compared with 53 cents per pound
in the fourth quarter of 2010. Operating income slumped to $1.3
billion from $3.1 billion in the year-ago quarter.
However, overall sequential results were lower primarily due to
labor disruptions and temporary suspension of milling operations at
PT Freeport Indonesia resulting from the damage of the concentrate
and fuel pipelines.
Freeport-McMoRan had cash and cash equivalents of $4.8 billion
as of December 31, 2011 compared with $3.7 billion as of December
31, 2010.
Freeport-McMoRan’s operating cash flows totaled $746 millionin
the fourth quarter of 2011 compared with $2.1 billion in
fourth-quarter 2010. Capital expenditures totaled $785 million for
fourth-quarter 2011 compared with $535 million in fourth-quarter
2010. In fiscal 2011, operating cash flow was $6.6 billion and
capital expenditure came in at $2.5 billion.
As of December 31, 2011, total debt approximated $3.5 billion
and consolidated cash approximated $4.8 billion. During the fiscal
year 2011, FCX repaid $1.2 billion in debt and paid common stock
dividends totaling $1.4 billion.
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FREEPT MC COP-B (FCX): Free Stock Analysis Report
GOOGLE INC-CL A (GOOG): Free Stock Analysis Report
INTL BUS MACH (IBM): Free Stock Analysis Report
INTEL CORP (INTC): Free Stock Analysis Report
MICROSOFT CORP (MSFT): Free Stock Analysis Report
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