Shares of VMware Corp. (VMW) plunged 25% to $62 after the virtualization software developer reported that its fourth-quarter revenue came in lower than Wall Street expectations.
The Palo Alto, Calif., company said revenue rose 80% to $412.5 million, from $229.6 million. Analysts, on average, expected VMware to earn 24 cents a share on $417 million in sales. Analysts' estimates typically exclude unusual items.
The company said its profit more than doubled to $78.2 million, or 19 cents a share, from $31 million, or 9 cents a share, a year earlier. Excluding charges and one-time items, VMware would have earned 26 cents a share.
This will also negatively affect EMC Corp., the original parent of VMW.
Monday, January 28, 2008
American Express Reports Lower Net Income....
Shares of American Express Co. (AXP) fell 2.7% to $46.10 in after-hours trading Monday after the credit-card and travel-services giant said its fourth-quarter net income dropped 9.9% as the company set aside more money to cover higher delinquencies and loan write-offs amid rising credit-card losses and a slowdown in consumer spending. The company, which warned of a weakening U.S. economy earlier this month, reported net income of $831 million, or 71 cents a share, compared with $922 million, or 75 cents a share, a year earlier. Earnings from continuing operations were 71 cents a share, compared with 73 cents a share a year earlier. Earlier this month, American Express said it expected earnings from continuing operations to be 70 cents to 72 cents a share. Revenue climbed 13% to $8.4 billion. Analysts polled by Thomson Financial, on average, estimated earnings of 71 cents a share with revenue of $7.85 billion.
Much of this may already be priced in the stock.....
Much of this may already be priced in the stock.....
Nice Close.....
Dow +176
S&P + 23
Nasdaq +23
After a shaky start, the market rebounded nicely and held its gains into the close.
The Breadth of the rally was strong as shorts have clearly lost control of the market....at least for now.
Today's gains basically erased Friday's selloff. The next two days should be interesting as traders position themselves for the scheduled Fed meeting and decision on interest rates on Wednesday. It is widely thought that the Fed will cut the Fed Funds rate another 1/2 point at that meeting.
S&P + 23
Nasdaq +23
After a shaky start, the market rebounded nicely and held its gains into the close.
The Breadth of the rally was strong as shorts have clearly lost control of the market....at least for now.
Today's gains basically erased Friday's selloff. The next two days should be interesting as traders position themselves for the scheduled Fed meeting and decision on interest rates on Wednesday. It is widely thought that the Fed will cut the Fed Funds rate another 1/2 point at that meeting.
Potash (POT) Heading Back up....
POT up 5.75 to $138.60
The company had a nice earnings report last Thursday and guided higher for the upcoming year. It is trading 10% below its all-time high of $152.
The company had a nice earnings report last Thursday and guided higher for the upcoming year. It is trading 10% below its all-time high of $152.
NYSE New Highs....
Barrick Gold (ABX) $53.46, up $1.29
Alberto Culver (ACV) $25.27, up $1.75
Consolidated Energy (CNX) $76.11, up $3.10
Alberto Culver (ACV) $25.27, up $1.75
Consolidated Energy (CNX) $76.11, up $3.10
Nasdaq Stocks Hitting 52-Week Highs Today...
Accorda Therapeudics (ACOR) $26.08, up $4.30
Matria Healthcare (MATR) $32.26, up $1.57
MGI Pharmaceutical (MOGN) $41.22, up $0.23
Auxilium Pharmaceutical (AUXL) $31.57, up $0.87
Vivus Inc. (VVUS) $6.22, up $0.17
Matria Healthcare (MATR) $32.26, up $1.57
MGI Pharmaceutical (MOGN) $41.22, up $0.23
Auxilium Pharmaceutical (AUXL) $31.57, up $0.87
Vivus Inc. (VVUS) $6.22, up $0.17
Medtronic Begins Trials on New Pacemaker...
MDT up .30 to $46.42
Medtronic (MDT) announces FDA approval to begin clinical trial of first pacemaker system designed for safe use in MRI machines.
Medtronic (MDT) announces FDA approval to begin clinical trial of first pacemaker system designed for safe use in MRI machines.
Lockheed Martin (LMT) Likely to Win Indian Contract...
LMT up .88 to $106.37
The Bethesda, MD-based defense contractor is set to win a $1 billion contract for six Hercules transport planes from India, an official said Monday. A formal contract is likely to be issued next month to the company, which is also in the race for a $10 billion contract to sell 126 fighter jets to the Indian air force.
The Bethesda, MD-based defense contractor is set to win a $1 billion contract for six Hercules transport planes from India, an official said Monday. A formal contract is likely to be issued next month to the company, which is also in the race for a $10 billion contract to sell 126 fighter jets to the Indian air force.
Honda Global Output Increases...
Honda Motor Co Ltd. (HMC). Japan's second-largest auto maker said today its global vehicle output in December rose 5.5% to 298,824 vehicles from a year earlier, led by brisk overseas output.
HMC currently trades at $30.00, down from a high of $41 hit last February.
HMC currently trades at $30.00, down from a high of $41 hit last February.
New Home Sales Tumble...
New-home sales tumbled to the lowest mark in 12 years during December and prices also fell sharply. Sales of single-family homes decreased by 4.7% last month to a seasonally adjusted annual rate of 604,000, the Commerce Department said Monday. November new-home sales fell 12.6% to an annual rate to 634,000; originally, the government said November sales fell by 9.0% to 647,000.
Economists forecast December sales at an annual rate of 650,000. The pace of 604,000 was the worst since 559,000 in February 1995.
Year over year, new-home sales were 40.7% lower than the level in December 2006.
Regionally last month, new-home sales decreased 6.5% in the South, 1.2% in the Midwest, and 6.0% in the West. Sales rose 6.0% in the Northeast.
Economists forecast December sales at an annual rate of 650,000. The pace of 604,000 was the worst since 559,000 in February 1995.
Year over year, new-home sales were 40.7% lower than the level in December 2006.
Regionally last month, new-home sales decreased 6.5% in the South, 1.2% in the Midwest, and 6.0% in the West. Sales rose 6.0% in the Northeast.
Investors Like Wellcare Change at the Top...
WCG up 5.38 to $48.50
Wellcare Health Plans Inc. (WCG) named Charles Berg as executive chairman and Heath Schiesser as president and chief executive officer, effective immediately, after three executives resigned from their positions. The managed-care services provider said the shakeup is in the "best long-term interest of the company."
Wellcare Health Plans Inc. (WCG) named Charles Berg as executive chairman and Heath Schiesser as president and chief executive officer, effective immediately, after three executives resigned from their positions. The managed-care services provider said the shakeup is in the "best long-term interest of the company."
Analysts Cut Q4 Earnings Projections...
A Reuters survey indicated that Wall Street analysts have cut their Q4 earnings estimates for S&P 500 companies. They now see earnings growth falling 17.6% in the quarter, down from the 10.9% decline they forecast a week ago. Earnings in the financial sector are expected to show a 91% drop, but technology earnings are forecast to have grown 26%.
This is actually a positive for the future. Reduced expectations are easier to meet or exceed.
This is actually a positive for the future. Reduced expectations are easier to meet or exceed.
Sony Ericsson Joint Venture Goes After iTunes Market....
Sony Ericsson lands content deals with 3 top labels. The Sony Ericsson JV (SNE), (ERIC) has arranged deals with ten music providers, including Sony BMG, Warner Music Group and EMI, for its online music store, which will launch in May.
The venture's PlayNow service, which will rival Apple's (AAPL) iTunes and Nokia's (NOK) Ovi, will provide over five million music tracks in 30 countries by the end of 2008.
The venture's PlayNow service, which will rival Apple's (AAPL) iTunes and Nokia's (NOK) Ovi, will provide over five million music tracks in 30 countries by the end of 2008.
Naxavar Approved in Japan....
Bayer beats rivals to Japanese market with cancer drug. Bayer AG's (BAYRY.PK) treatment for advanced kidney cancer, Nexavar, has been approved for use in Japan.
The drug, which is already approved in the U.S. and Europe, is codeveloped by Onyx Pharmaceuticals (ONXX).
The drug, which is already approved in the U.S. and Europe, is codeveloped by Onyx Pharmaceuticals (ONXX).
Countrywide CEO to Forego Big Pay Package...
Angelo Mozilo, chairman and CEO of Countrywide Financial (CFC), will forfeit $37.5 million of severance pay, fees and benefits that he was to have received upon retiring.
Mozilo is expected to step down when Bank of America (BAC) completes its acquisition of the lender.
Mozilo is expected to step down when Bank of America (BAC) completes its acquisition of the lender.
Earnings This Week That May Move the Market...
Monday
American Express Co. (AXP) 4Q .74 AMC
Corning Inc. (GLW) 4Q .39 BMO
Halliburton Co. (HAL) 4Q .69
McDonald's Corp. (MCD) 4Q .71
SanDisk Corp. (SNDK) 4Q .55 AMC
Verizon Commun Inc. (VZ) 4Q .62 7:30AM
VMware Inc. (VMW) 4Q .20 AMC
Tuesday
3M Co. (MMM) 4Q 1.16
Burlington Northern Santa Fe (BNI) 4Q 1.40 8:00AM
Centex Corp. (CTX) 3Q (1.05)AMC
Chattem Inc. (CHTT) 4Q .64 BMO
Countrywide Fincl Corp. (CFC) 4Q (.11) BMO
Dow Chemical Co. (DOW) 4Q .81 6:30AM
Eli Lilly & Co. (LLY) 4Q .89
EMC Corp. (EMC) 4Q .22
JetBlue Airways Corp. (JBLU) 4Q (.01) BMO
Lexmark Intl Inc. (LXK) 4Q .56
Northwest Airlines Corp. (NWA) 4Q (.02)
Robert Half Intl Inc. (RHI) 4Q .47 4:00PM
Scotts Miracle-Gro Co. (SMG) 1Q (1.04) BMO
Sherwin-Williams Co. (SHW) 4Q .84 9:00AM
Smith Intl Inc. (SII) 4Q .88 BMO
T. Rowe Price Grp Inc. (TROW) 4Q .63
Travelers Cos. Inc. (TRV) 4Q 1.58
USG Corp. (USG) 4Q (.11) BMO
Valero Energy Corp. (VLO) 4Q .79
Yahoo! Inc. (YHOO) 4Q .12 5:00PM
Zimmer Hldgs Inc. (ZMH) 4Q 1.040
Wednesday
AFLAC Inc. (AFL) 4Q .80
Allergan Inc. (AGN) 4Q .57
Alliance Data Sys Corp. (ADS) 4Q .89
Altria Grp Inc. (MO) 4Q .97
Amazon.com Inc. (AMZN) 4Q .51
Baker Hughes Inc. (BHI) 4Q 1.28 BMO
Boeing Co. (BA) 4Q 1.32 7:30AM
Constellation Energy Grp (CEG) 4Q 1.38
Dominion Resources Inc. (D) 4Q .57
Eastman Kodak Co. (EK) 4Q .48 7:00AM
Genlyte Grp Inc. (GLYT) 4Q 1.21
Illinois Tool Works Inc. (ITW) 4Q .85 8:00AM
Kirby Corp. (KEX) 4Q .62 6:00PM
Kraft Foods Inc. (KFT) 4Q .44 7:00AM
MBIA Inc. (MBI) 4Q (2.45) AMC
Merck & Co. Inc. (MRK) 4Q .73
Starbucks Corp. (SBUX) 1Q .28
Wolverine World Wide Inc. (WWW) 4Q 0.430 BMO
Thursday
Affiliated Computer Svcs Inc (ACS) 2Q .83
Altera Corp. (ALTR) 4Q .18 4:15PM
Anheuser-Busch Cos. Inc. (BUD) 4Q .32
Apache Corp. (APA) 4Q 2.31 BMO
AstraZeneca PLC (AZN) 4Q .95 6:00AM
bebe Stores Inc. (BEBE) 2Q .26
Bristol-Myers Squibb Co. (BMY) 4Q .34
Callaway Golf Co. (ELY) 4Q (.18)
Colgate-Palmolive Co. (CL) 4Q .89
Columbia Sportswear Co. (COLM) 4Q 1.01
CVS Caremark Corp. (CVS) 4Q .55 BMO
E.W. Scripps Co. (SSP) 4Q .70 BMO
Electronic Arts Inc. (ERTS) 3Q .78 AMC
Flowers Foods Inc. (FLO) 4Q .21
Gold Fields Ltd. (GFI) 2Q .13 1:00AM
Goodrich Corp. (GR) 4Q .91 BMO
Google Inc. (GOOG) 4Q 4.09
Hologic Inc. (HOLX) 1Q .45 8:00AM
ImClone Syss Inc. (IMCL) 4Q .24
Intuitive Surgical Inc. (ISRG) 4Q 1.03
Key Energy Svcs Inc. (KEG) 4Q .29
L-3 Commun Hldgs Inc. (LLL) 4Q 1.60 BMO
Marathon Oil Corp. (MRO) 4Q 1.05
MasterCard Inc. (MA) 4Q .70
Mattel Inc. (MAT) 4Q .72 6:00AM
Monster Worldwide Inc. (MNST) 4Q .37 AMC
Nasdaq Stock Market Inc. (NDAQ) 4Q .46 7:00AM
Newell Rubbermaid Inc. (NWL) 4Q .45 BMO
Peabody Energy Corp. (BTU) 4Q .69
Procter & Gamble Co. (PG) 2Q .97
Raytheon Co. (RTN) 4Q .90 6:00AM
RF Micro Devices Inc. (RFMD) 3Q .05 4:00PM
Sony Corp. (SNE) 3Q 1.53
Starwood Hotels & Resorts (HOT) 4Q .67 BMO
Tesoro Corp. (TSO) 4Q .12
Under Armour Inc. (UA) 4Q .31 7:00AM
Western Union Co. (WU) 4Q .31 7:30AM
Wyeth (WYE) 4Q 0.790
Friday
Arch Coal Inc. (ACI) 4Q .47 BMO
Automatic Data Processing (ADP) 2Q .53 BMO
Chevron Corp. (CVX) 4Q 2.26
Cummins Inc. (CMI) 4Q 1.05
Exxon Mobil Corp. (XOM) 4Q 1.93
L.M. Ericsson Telephone Co. (ERIC) 4Q .55 1:30AM
Oshkosh Truck Corp. (OSK) 1Q .50
Simon Ppty Grp Inc. (SPG) 4Q .62 BMO
Tidewater Inc. (TDW) 3Q 1.55 BMO
American Express Co. (AXP) 4Q .74 AMC
Corning Inc. (GLW) 4Q .39 BMO
Halliburton Co. (HAL) 4Q .69
McDonald's Corp. (MCD) 4Q .71
SanDisk Corp. (SNDK) 4Q .55 AMC
Verizon Commun Inc. (VZ) 4Q .62 7:30AM
VMware Inc. (VMW) 4Q .20 AMC
Tuesday
3M Co. (MMM) 4Q 1.16
Burlington Northern Santa Fe (BNI) 4Q 1.40 8:00AM
Centex Corp. (CTX) 3Q (1.05)AMC
Chattem Inc. (CHTT) 4Q .64 BMO
Countrywide Fincl Corp. (CFC) 4Q (.11) BMO
Dow Chemical Co. (DOW) 4Q .81 6:30AM
Eli Lilly & Co. (LLY) 4Q .89
EMC Corp. (EMC) 4Q .22
JetBlue Airways Corp. (JBLU) 4Q (.01) BMO
Lexmark Intl Inc. (LXK) 4Q .56
Northwest Airlines Corp. (NWA) 4Q (.02)
Robert Half Intl Inc. (RHI) 4Q .47 4:00PM
Scotts Miracle-Gro Co. (SMG) 1Q (1.04) BMO
Sherwin-Williams Co. (SHW) 4Q .84 9:00AM
Smith Intl Inc. (SII) 4Q .88 BMO
T. Rowe Price Grp Inc. (TROW) 4Q .63
Travelers Cos. Inc. (TRV) 4Q 1.58
USG Corp. (USG) 4Q (.11) BMO
Valero Energy Corp. (VLO) 4Q .79
Yahoo! Inc. (YHOO) 4Q .12 5:00PM
Zimmer Hldgs Inc. (ZMH) 4Q 1.040
Wednesday
AFLAC Inc. (AFL) 4Q .80
Allergan Inc. (AGN) 4Q .57
Alliance Data Sys Corp. (ADS) 4Q .89
Altria Grp Inc. (MO) 4Q .97
Amazon.com Inc. (AMZN) 4Q .51
Baker Hughes Inc. (BHI) 4Q 1.28 BMO
Boeing Co. (BA) 4Q 1.32 7:30AM
Constellation Energy Grp (CEG) 4Q 1.38
Dominion Resources Inc. (D) 4Q .57
Eastman Kodak Co. (EK) 4Q .48 7:00AM
Genlyte Grp Inc. (GLYT) 4Q 1.21
Illinois Tool Works Inc. (ITW) 4Q .85 8:00AM
Kirby Corp. (KEX) 4Q .62 6:00PM
Kraft Foods Inc. (KFT) 4Q .44 7:00AM
MBIA Inc. (MBI) 4Q (2.45) AMC
Merck & Co. Inc. (MRK) 4Q .73
Starbucks Corp. (SBUX) 1Q .28
Wolverine World Wide Inc. (WWW) 4Q 0.430 BMO
Thursday
Affiliated Computer Svcs Inc (ACS) 2Q .83
Altera Corp. (ALTR) 4Q .18 4:15PM
Anheuser-Busch Cos. Inc. (BUD) 4Q .32
Apache Corp. (APA) 4Q 2.31 BMO
AstraZeneca PLC (AZN) 4Q .95 6:00AM
bebe Stores Inc. (BEBE) 2Q .26
Bristol-Myers Squibb Co. (BMY) 4Q .34
Callaway Golf Co. (ELY) 4Q (.18)
Colgate-Palmolive Co. (CL) 4Q .89
Columbia Sportswear Co. (COLM) 4Q 1.01
CVS Caremark Corp. (CVS) 4Q .55 BMO
E.W. Scripps Co. (SSP) 4Q .70 BMO
Electronic Arts Inc. (ERTS) 3Q .78 AMC
Flowers Foods Inc. (FLO) 4Q .21
Gold Fields Ltd. (GFI) 2Q .13 1:00AM
Goodrich Corp. (GR) 4Q .91 BMO
Google Inc. (GOOG) 4Q 4.09
Hologic Inc. (HOLX) 1Q .45 8:00AM
ImClone Syss Inc. (IMCL) 4Q .24
Intuitive Surgical Inc. (ISRG) 4Q 1.03
Key Energy Svcs Inc. (KEG) 4Q .29
L-3 Commun Hldgs Inc. (LLL) 4Q 1.60 BMO
Marathon Oil Corp. (MRO) 4Q 1.05
MasterCard Inc. (MA) 4Q .70
Mattel Inc. (MAT) 4Q .72 6:00AM
Monster Worldwide Inc. (MNST) 4Q .37 AMC
Nasdaq Stock Market Inc. (NDAQ) 4Q .46 7:00AM
Newell Rubbermaid Inc. (NWL) 4Q .45 BMO
Peabody Energy Corp. (BTU) 4Q .69
Procter & Gamble Co. (PG) 2Q .97
Raytheon Co. (RTN) 4Q .90 6:00AM
RF Micro Devices Inc. (RFMD) 3Q .05 4:00PM
Sony Corp. (SNE) 3Q 1.53
Starwood Hotels & Resorts (HOT) 4Q .67 BMO
Tesoro Corp. (TSO) 4Q .12
Under Armour Inc. (UA) 4Q .31 7:00AM
Western Union Co. (WU) 4Q .31 7:30AM
Wyeth (WYE) 4Q 0.790
Friday
Arch Coal Inc. (ACI) 4Q .47 BMO
Automatic Data Processing (ADP) 2Q .53 BMO
Chevron Corp. (CVX) 4Q 2.26
Cummins Inc. (CMI) 4Q 1.05
Exxon Mobil Corp. (XOM) 4Q 1.93
L.M. Ericsson Telephone Co. (ERIC) 4Q .55 1:30AM
Oshkosh Truck Corp. (OSK) 1Q .50
Simon Ppty Grp Inc. (SPG) 4Q .62 BMO
Tidewater Inc. (TDW) 3Q 1.55 BMO
McDonald's Beats Estimates....Stock sells off...
McDonald's 4Q EPS $1.06 Vs EPS $1.00
DOW JONES NEWSWIRES
McDonald's Corp., (MCD) the Oak Brook, Ill., fast-food restaurant giant, reported fourth-quarter net income rose 2.6% on a 5.7% increase in sales and 6.7% boost in comparable sales.
Earnings rose to $1.27 billion, or $1.06 a share, from $1.24 billion, or $1.00 a share, in the year-earlier period. Results for the latest period included a tax benefit of 33 cents a share. Currency fluctuations added an additional 4 cents a share.
Earnings from continuing operations were $1.06 a share compared with 61 cents a year ago.
A survey of analysts by Thomson Financial produced a consensus earnings estimate of 71 cents for the latest quarter.
The company reported fatter profit margins for the eight consecutive quarter.
The stock is down 3.30 to $50.80 in premarket trading.
DOW JONES NEWSWIRES
McDonald's Corp., (MCD) the Oak Brook, Ill., fast-food restaurant giant, reported fourth-quarter net income rose 2.6% on a 5.7% increase in sales and 6.7% boost in comparable sales.
Earnings rose to $1.27 billion, or $1.06 a share, from $1.24 billion, or $1.00 a share, in the year-earlier period. Results for the latest period included a tax benefit of 33 cents a share. Currency fluctuations added an additional 4 cents a share.
Earnings from continuing operations were $1.06 a share compared with 61 cents a year ago.
A survey of analysts by Thomson Financial produced a consensus earnings estimate of 71 cents for the latest quarter.
The company reported fatter profit margins for the eight consecutive quarter.
The stock is down 3.30 to $50.80 in premarket trading.
Haliburton Tops Estimates...
Halliburton Co.'s (HAL) fourth-quarter net income rose 4.9% to $690 million, or 75 cents a share, from $658 million, or 64 cents a share, a year earlier.
The Houston energy and engineering services company said earnings from continuing operations were 74 cents a share, compared with 61 cents a share a year ago.
Revenue climbed 19% to $4.18 billion from $3.51 billion.
Analysts polled by Thomson Financial, on average, expected earnings of 69 cents a share on revenue of $4.06 billion.
Results from the latest quarter included charges of $22 million from the impairment of an oil and gas property and $8 million in executive separation costs. The results benefited from a lower tax rate, Halliburton said.
The Houston energy and engineering services company said earnings from continuing operations were 74 cents a share, compared with 61 cents a share a year ago.
Revenue climbed 19% to $4.18 billion from $3.51 billion.
Analysts polled by Thomson Financial, on average, expected earnings of 69 cents a share on revenue of $4.06 billion.
Results from the latest quarter included charges of $22 million from the impairment of an oil and gas property and $8 million in executive separation costs. The results benefited from a lower tax rate, Halliburton said.
Corning Guides Higher....
Corning beats by $0.01, beats on revs; guides Q1 EPS above consensus, revs above consensus (GLW) $22.37 :
Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.39; revenues rose 15.6% year/year to $1.58 bln vs the $1.55 bln consensus. Co issues upside guidance for Q1, sees EPS of $0.41-0.43, excluding non-recurring items, vs. $0.36 consensus; sees Q1 revs of $1.59-1.62 bln vs. $1.52 bln consensus. Co said, "We believe first-quarter panel maker inventory levels are lower this year than last year. We expect panel makers to maintain high utilization rates throughout the first quarter, which will drive continued strong glass demand.
Looking forward, we anticipate the LCD glass supply and demand balance will remain tight throughout the year, absent the impact of any potential downturn in the economy."
Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.39; revenues rose 15.6% year/year to $1.58 bln vs the $1.55 bln consensus. Co issues upside guidance for Q1, sees EPS of $0.41-0.43, excluding non-recurring items, vs. $0.36 consensus; sees Q1 revs of $1.59-1.62 bln vs. $1.52 bln consensus. Co said, "We believe first-quarter panel maker inventory levels are lower this year than last year. We expect panel makers to maintain high utilization rates throughout the first quarter, which will drive continued strong glass demand.
Looking forward, we anticipate the LCD glass supply and demand balance will remain tight throughout the year, absent the impact of any potential downturn in the economy."
Verizon Earnings....In Line with Estimates...
Verizon reports EPS in-line, revs in-line; adds 2 mln new net wireless subs; adds 226k FiOS TV customers (VZ) $37.76 :
Reports Q4 (Dec) earnings of $0.62 per share, ex items, in-line with the First Call consensus of $0.62; revenues rose 5.5% year/year to $23.84 bln vs the $23.96 bln consensus. For wireless co reports Q4 2.0 mln total net customer additions, 1.9 mln net retail customer additions; 65.7 mln total customers, 63.7 mln retail (non-wholesale) customers; 6.9 mln retail net adds in 2007, the most of any carrier. Co reports Q4 226,000 net new FiOS TV customers, 943,000 total FiOS TV customers at year-end;
Verizon now has more than 1 mln FiOS TV customers.
Reports Q4 (Dec) earnings of $0.62 per share, ex items, in-line with the First Call consensus of $0.62; revenues rose 5.5% year/year to $23.84 bln vs the $23.96 bln consensus. For wireless co reports Q4 2.0 mln total net customer additions, 1.9 mln net retail customer additions; 65.7 mln total customers, 63.7 mln retail (non-wholesale) customers; 6.9 mln retail net adds in 2007, the most of any carrier. Co reports Q4 226,000 net new FiOS TV customers, 943,000 total FiOS TV customers at year-end;
Verizon now has more than 1 mln FiOS TV customers.
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