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How Will Q1 Earnings Compare To Q4?
Posted By Barry Ritholtz On April 8, 2008 @ 3:00 am In Earnings,Video | Comments Disabled
After Monday’s NYSE close, Alcoa (A) reported a 54% earnings miss, blaming soaring energy costs and the weak dollar, reporting .37 (ex-items .44); .50 to .53 was expected.
For those who believe technology is non-cyclical, i.e., immune from recession, AMD missed Q1 revenue forecasts. The company said sales declined 22%, falling to ~$1.5B (AMD dropped 7% in after-hour trading). In response, the firm is cutting 10% of its workforce (1,600). PALM also issued an earning miss, saying its Q3 loss would increase to .53 vs. a forecast .30.
Which leads directly to this:
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