Quick Look Market Closing Price:
At the close: Dow -0.13% to 12704. S&P -0.09% to 1314. Nasdaq -0.09% to 2784.
Treasurys: 30-year -0.49%. 10-yr -0.24%. 5-yr -0.08%.
Commodities: Crude +1.51% to $99.81. Gold +0.86% to $1678.25.
Currencies: Euro +0.77% vs. dollar. Yen -0.06%. Pound +0.01%.
After Hours News:
Polycom (PLCM) +14% AH, adding to earlier gains after its Q4 report, as the video conferencing and communications company issues upward guidance during its conference call. PLCM sees Q1 revenues down 2% from Q4, which would equal $398.9M vs. $397.82M consensus, and expects non-GAAP operating margin of 18%.
Texas Instruments (TXN) Q4: Expects Q1 revenue of $3.02B-$3.28B and EPS of $0.26-$0.34 (consensus of $3.22B and $0.41). Wireless baseband revenue expected to fall over 70% Q/Q, as TI gradually exits business. Expects 2012 capex of $700M and R&D expenses of $2B (+17% Y/Y). Analog revenue +12% Y/Y in Q4 (boosted by NSM purchase), wireless revenue -6%, embedded processing -18%. $300M in shares repurchased. TXN +1.6% AH.
STMicroelectronics' (STM) Q4: The chipmaker expects Q1 revenue to decline 4%-10% Q/Q (consensus is for 4% drop), largely thanks to weakness in its wireless division. Gross margin is expected to be 31.5%-34.5%, compared with Q4's 33.4%. Wireless sales fell 27% Y/Y in Q4, and the division's operating loss (excluding Ericsson's stake in ST-Ericsson) was was $93M. STM +1.8%.
Western Digital (WDC) uses its FQ2 earnings call (webcast) to guide for FQ3 revenue of $2B-$2.15B ($2.05B consensus) and EPS of $1.15-$1.45 ($0.91 consensus). WDC +5.2% AH. STX +1.6%.
Crane (CR): Q4 EPS of $0.88 misses by $0.02. Revenue of $631.6M (+10% Y/Y) misses by $18M.
Woodward (WWD), a manufacturer of energy control systems, drops 3.9% AH after reporting FQ1 revenue of $407.9M (+12% Y/Y) and EPS of $0.40, missing Street estimates by $17M and $0.04. The company is reiterating its FY12 (ends in September) guidance for revenue of $1.85B-$1.95B and EPS of $2.20-$2.35 (consensus is for $1.92B and $2.29).
Kansas City Southern (KSU): Q4 EPS of $1.01 beats by $0.22. Revenue of $530.3M (+11% Y/Y) misses by $19M. Shares -2.1% AH.
InterDigital (IDCC) -The company is preannouncing Q4 revenue of $74.2M and EPS of $0.46, above a consensus of $73.1M and $0.37. However, the news is only slightly reducing the hit taken by shares on account of the conclusion of InterDigital's "strategic review." IDCC -14.8% AH.
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