Qualcomm Earnings Beat Estimates

eBay net income rises; Yahoo slips despite higher earnings; plus more of Wednesday's stocks in the news

After the close of trading Wednesday, Qualcomm (QCOM ) posted first-quarter earnings per share of 30 cents, vs. 21 cents on revenue of $1.39 billion. The company missed the Street's revenue estimate, but beat its 27 cents earnings per share estimate.

Also after Wednesday's close, EBay (EBAY ) posted fourth-quarter earnings per share of 30 cents, vs. 21 cents. The online auction company also announced plans to invest heavily in China and a two-for-one stock split.

Yahoo (YHOO ) posted 25 cents, vs. 5 cents fourth-quarter earnings per share (GAAP) on a 62% revenue rise. The company notes fourth-quarter 2004 earnings per share include a 13-cent gain related to the sale of an investment. S&P raises its 2005 estimate and target, and reiterates its buy rating.

IBM Corp. (IBM ) posted $1.81, vs. $1.56 fourth-quarter earnings per share from continuing operations on 7% higher revenues from continuing operations. S&P reiterates a strong buy.

Pfizer (PFE ) posted 58 cents, vs. 50 cents fourth-quarter earnings per share (adjusted) on a 7% revenue rise.

Advanced Micro Devices (AMD ) posted an 8-cent fourth-quarter loss, vs. 12 cents earnings per share, as charges and higher costs offset a 2% sales rise. The company sees first-quarter processor sales flat to down slightly, and flash memory down on a continued imbalance in supply/demand. S&P keeps hold.

Juniper Networks (JNPR ) posted 11 cents, vs. 3 cents fourth-quarter GAAP earnings per share on sharply higher revenues.

Motorola (MOT ) posted 27 cents, vs. 20 cents fourth-quarter earnings per share (GAAP) on 27% higher sales. The company sees 17 cents to 20 cents first-quarter earnings per share (GAAP).

JPMorgan Chase (JPM ) posted 46 cents, vs. 89 cents fourth-quarter earnings per share (as reported) on $12.95 billion in revenue.

McDonald's (MCD ) posted 4.9% higher December same-store sales for McDonald's restaurants, and 5.1% higher sales for the fourth quarter. The company says global systemwide sales for McDonald's restaurants increased 9.6% in December, and 9.5% for the fourth quarter.

Lucent Technologies (LU ) posted 4 cents, vs. 7 cents first-quarter earnings per share despite 3% revenue rise. The company continues to see fiscal 2005 revenue growth in the mid-single digits.

Federal Home Loans (FRE ) expects to report little, if any, retained portfolio growth for 2004. Freddie Mac also forecasts about a 4% rise in its full-year 2004 issuance of participation certificates, down from 7% growth in 2003.

Southwest Airlines (LUV ) posted 7 cents, vs. 8 cents fourth-quarter earnings per share as "significantly" higher energy costs offset a 9.1% revenue rise. The commercial airline says the industry revenue environment continues to be challenge due to a glut of airline seats.

Wachovia (WB ) posted 95 cents, vs. 83 cents fourth-quarter earnings per share (including items) on an 11% revenue rise. The banking services company is to cut its workforce by up to 4,000 by 2007.

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