Technology shares are lower in the pre-market session. Nokia (
)
Q2 sales fell to 9.9 bln euros from 13.1 bln euros. EPS fell to 0.15
euros from 0.37 euros. Nokia said its mobile device volumes were 103.2
million units, down 15% year on year and up 11% sequentially. It
estimated mobile device market share of 38% in Q2, down from 40% last
year and up from 37% in Q1. Nokia now expects its market share in
mobile devices to be about flat in 2009, compared with 2008. This is an
update to Nokia's earlier target to increase its market share in mobile
devices in 2009.
Goldman Sachs cut its rating on Motorola (
) to Neutral from Buy.
Cypress Semiconductor (
) Q2 sales were $155.8 million, more than
the Thomson Reuters consensus for $152.45 million. Non-GAAP loss was
$0.03 per share, better than the consensus for a $0.09 per-share loss.
SanDisk (
) received a positive mention on Jim Cramer's Mad
Money show Wednesday night. Cramer suggested SNDK is the only way to
play the bull market in NAND flash. He called it a must have investment
for the coming tsunami in mobile internet devices.
Boeing (
) is expected to announce a nearly $1 bln contract to build satellites for Intelsat, the Los Angeles Times reported.
Fairchild Semiconductor (
) swung to a Q2 adjusted loss of $0.03
per share from EPS of $0.17. The Thomson Reuters mean analyst estimate
was for a loss of $0.11 per share. Sales of $277.9 million are down 34%
from a year earlier, but improved 25% sequentially.
