Media Digest 4/17/2008 Reuters, WSJ, NYTimes, FT, Bloomberg from 24/7 Wallst.
According to Reuters, the head of Samsung has been indicted for tax evasion.
Reuters writes Ebay (EBAY) profits rose 22%, but the company was cautious about the rest of the year.
Reuters reports that JP Morgan (JPM) will sell $6 billion in preferred shares.
Reuters writes that IBM (IBM) profits rose on strength in its service and software divisions.
Reuters reports that it has completed its merger with Thomson.
Reuters writes that Sallie Mae (SLM) posted a first quarter net loss.
The Wall Street Journal writes that Yahoo! (YHOO) is close to a deal to outsource some of its advertising to Google (GOOG).
The Wall Street Journal writes that tech firms like EMC (EMC) and Ebay are building cash reserves in case of a prolonged economic slump.
The Wall Street Journal writes that Sallie Mae claims it cannot make profitable loans.
The Wall Street Journal reports the Freddie Mae (FNM) will unveil a news package with lenders.
The Wall Street Journal writes that Cisco’s new acquisition program will allow companies it buys to operate as independent units.
The Wall Street Journal writes that GE’s (GE) embattled CEO defended his strategy for holding the company together.
The Wall Street Journal writes that many hedge funds have moved into cash.
The Wall Street Journal writes that crude moved above $115.
The Wall Street Journal reports that AMR (AMR) had a loss as fuel prices surged.
The New York Times writes that retailers are stopping giving monthly sales figures.
The New York Times writes that researchers are concerned that plans for Google and Microsoft to store medical records could cause privacy problems.
The FT writes that CBS (CBS) will open a Silicon Alley office.
SPWR reports Q1 EPS 39c vs. consensus of 35c
Reports Q1 revenue $273.7M vs. consensus of $245.21M. Sees 2008 EPS $2.10-$2.20 vs. consensus of $2.07, sees 2008 revenue $1.3B-$1.375B vs. consensus of $1.27B. Reconfirms 2009 forecast for revenue up at least 40% from 2008 levels. Sees Q2 EPS 48c-52c vs. consensus of 46c, sees Q2 revenue $300M-$350M vs. consensus of $295.13M.
The numbers look really good but SPWR is doing a sell the news reaction in premarket, let’s see how it and the rest of the solars react to these numbers throughout the day and for the rest of the week.
GILD reports Q1 EPS 54c vs. consensus of 48c
Reported EPS with stock-based compensation was 51c. GILD reports Q1 revenue $1.26B vs. consensus of $1.22B. HIV product sales were $964.7M, a 37% increase over the same period in 2007. Truvada sales were $479.4M, up 39% from the first quarter of 2007
GILD target raised to $58 from $49, maintain Outperform@OPCO
After the company reported stronger than expected Q1 results, Oppenheimer believes sales of the company’s Atripla outside of the U.S. will result in higher sales of the company’s HIV treatments over the next few quarters.
