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       Sector: Technology  >  Industry: Computer Peripherals
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From the Blogosphere

Lexmark Q3 Crushes Ests; Cutting 825 Jobs
N/A

Lexmark (LXK) this morning posted better-than-expected Q3 results.

For the quarter, the printer company posted revenue of $958 million and non-GAAP profits of 65 cents a share, well ahead of the Street at $901.3 million and 45 cents.

For Q4, Lexmark sees non-GAAP EPS of 50-60 cents, above the consensus at 47 cents.

<>The company also said it will cut 825 jobs as part of a new restructuring program intended to streamline the organization “to improve operating efficiencies and effectiveness. The job cuts are in manufacturing, supply chain, service delivery overhead, marketing and sales support, co<><><>< /><>< /><>< /><>< /><>< />< />...
By  Eric Savitz (Barron's)    10/20/09 Comment


Trading Radar for 10/20: Yahoo (YHOO), Coca-Cola (KO), Caterpillar (CAT), Bank of NY Mellon (BK), Coach (COH), Lexmark (LXK) Report
The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session:<u>Before Market Opens:</u>Economics:8:30am ET
  • Building Permits - Street Sees 590k
  • Core PPI - Street Sees 0.1%
  • Housing Starts - Street Sees 610K
Earnings:Arbitron (NYSE: AIT) - consensus EPS $0.24Autolive (ALV) - consensus EPS $0.28Bank of New York Mellon (NYSE: BK) - consensus EPS $0.47Biogen Inec (NASDAQ: BIIB) - consensus EPS $1.04Blackrock (NYSE: BLK) - consensus EPS $1.90Caterpillar (NYSE: CAT) - consensus EPS $0.06Cirrus Logic (NASDAQ: CRUS) - consensus EPS $0.10Comerica (NYSE: CMA) - c...
By  Street Insider   (+0.33%  risk: moderate)  10/19/09 Comment


Hardware: Morgan Stanley Upgrades LXK, QLGC; Downgrades IBM, DELL, TDC
N/A

Morgan Stanley hardware analyst Kathryn Huberty this morning raised her stance on the hardware sector to Attractive from In Line, in anticipation that earnings will normalize in 2010 “on the back of a return to revenue growth and related operating leverage.”

As part of the move, Huberty shuffled ratings and price targets for a number of stocks:

<><>IBM (IBM): To Equal Weight from Overweight; but she raised her target to $145, from $116. She writes that the stock can move towards a valuation of 2x sales, in line with enterprise software stocks, but that “the re-rating may take time especially <><><><><><><><><><><><><><><><><><><><><><><>< /><>< /><>< /><>< /><>< />< />...
By  Eric Savitz (Barron's)    09/08/09 Comment


Lexmark: Merrill Launches With Underperform Rating
N/A

Bank of America/Merrill Lynch analyst Scott Craig today launched coverage of Lexmark International (LXK) with an Underperform rating and an $18 price target. The printer company’s stock closed Friday at $17.80.

“While we applaud Lexmark’s effort to focus on higher growth/profit segments of printing market, we are away of deteriorating market share/installed base in in inkjet printers and we expect downside estimate revisions on likely disappointing supplies revenue and operating margin challenges,” he wriets.

<>Craig contends it is “too early to have confidence that the company’s strate<><><><>< /><>< /><>< /><>< /><>< />< />...
By  Eric Savitz (Barron's)    08/17/09 Comment


Lexmark Crumbles as Q2 Misses; Q3 Outlook Weak
N/A

Printer maker Lexmark International (LXK) is plummeting, down $3.33, or 17%, at $15.44, after the company this morning announced Q2 sales and profit below expectations and forecast a big sales and profit miss for the current quarter.

<>Lexmark sales in the June-ended quarter fell 21%, to $905 million, missing analysts’ $915 million, while profit per share came in at 55 cents, 5 cents short of estimates. For Q3, the company foresees flat revenue, compared to an average estimate of $927 million, and profit of 40 cents to 50 cents per share, excluding some costs, compared to an average 55 cent es<><><>< /><>< /><>< /><>< /><>< />< />...
By  Eric Savitz (Barron's)    07/21/09 Comment



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