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|  | JANUARY 19, 2005 04:35 PM
 MARKET MOVERS 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.  All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report. Standard & Poor's Regulatory Disclosure Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc. Get BusinessWeek directly on your desktop with our RSS feeds.  Add BusinessWeek news to your Web site with our headline feed. Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video. To subscribe online to BusinessWeek magazine, please click here. Learn more, go to the BusinessWeekOnline home page  | | |
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