More US earnings reports

Wednesday saw a mixed bag of earnings results. There was enough good news to overshadow the bad news for the bulls. Earnings surprises continue and so do downward earnings revisions. Below is a sample of some the larger players that reported on Wednesday.


Motorola cuts 2Q07 guidance:
Motorola (MOT) cut its 2Q07 revenue guidance to a range of $8.6 - $8.7 billion from its previous estimate of $9.4 billion. The company said it expects a per-share loss from continuing operations of 2 - 4 cents, including 3 - 4 cents of charges related to work-force reductions and other items. Analysts were expecting revenue of $9.26 billion. Motorola plans to release 2Q07 results on July 19.


Infosys 1Q07 profit up 34.5% but strong rupee cutting into growth:
Infosys (INFY) announced 1Q07 profit growth of 34.5% but cut earnings guidance for the full year due to a stronger rupee against the dollar. Infosys shares fell 2.2% as FY07 guidance was downgraded to at least 78.20 rupees from its April forecast of at least 80.29 rupees.


Genentech 2Q07 earnings surge 41%:
Genentech Inc. (DNA) posted a 41% rise in 2Q07 profit and raised its profit forecast for the full-year. Excluding one-offs DNA made 78 cents per share, analysts had been expecting 72 cents. The company upgraded it's full year forecast range to $2.85 - $2.95 per share from $2.79 - $2.90. Analysts had been expecting $2.92 per share for the full year.


International operations boost Yum Brands 2Q07 earnings:
Yum Brands (YUM) posted an 11.5% rise in 2Q07 profit and raised it's full year earnings outlook. The company posted 39 cents a share for the second quarter, analysts had been expecting 36 cents a share. Whilst same store growth was flat in the US international same store growth was an impressive 11% . The comapny raised it's full-year forecast to $1.63 a share in line with analysts estimates.


Micron Tech to cut 5% of it's workforce:
Micron Technology Inc. (MU) has cut 1,100 jobs or 5% of it's workforce. For the quarter ending May 31st the company reported a lost -$225m or 29 cents a share.


Compuware tumbles 20% after lower earnings forecast:
Compuware (CPWR) announced it expects 1Q07 revenue of approximately $278 million, below analyst expectations $303 million. More importantly on a per share basis the company expects to post break even results.