The Week in Stocks: AMD and 3M Issue Warnings
Plus, a top executive bolts from eBay, Brazilian telcos get cheap, and more.
Advanced Micro Trims Second-Quarter Forecast
Advanced Micro Devices (AMD) warned Thursday that its second-quarter revenue would fall shy of estimates. Though the shortfall likely reflects a pre-Microsoft Vista lull in the personal computer market, it's also possible that Intel's recent round of price cuts is beginning to bite. Analyst Alex Ross gave his thoughts in an Analyst Note.
Analyst Report: AMD
3M Warns on Second-Quarter Earnings
3M (MMM) posted lower-than-expected earnings today due to weakness in the company's LCD television business and startup costs associated with its optical film unit. However, management did not reduce the firm's fiscal 2006 earnings forecast. Nevertheless, the stock traded down sharply on the news. Analyst Scott Burns wrote that he thinks the sell-off is much ado about nothing.
Analyst Report: 3M
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