Novell profitable as revenue drops
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Flat new year Novel expects a drop in revenue for its current, fourth quarter and is predicting a flat 12 months, despite rising Linux sales and a Microsoft sales boost.â¦
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Novell reports a $31 million profit for the year, crediting the turnaround to its expanded Linux strategy. By Larry Greenemeier. Novell&#39;s move into the Linux market is paying off as the company Thursday reported
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U.S. investment bank Morgan Stanley on  Wednesday said quarterly profit fell amid reduced trading  revenue, reflecting the impact of sluggish markets this summer.
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Google Inc  reported a lower-than-expected quarterly profit on Thursday and predicted further spending to shore up its operations, sending its shares down as much as 9.5 percent.
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Have weak first-quarter earnings pulled the plug on this party?
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The home-furnishings retailer reports lower earnings but beats expectations.
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Shares of Novell (NOVL:Nasdaq - news - research) are slipping after-hours on the unexpected news that the software company&#39;s No.
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Google Inc  reported a  lower-than-expected quarterly profit on Thursday and predicted  further spending to shore up its operations, sending its shares  down as much as 9.5 percent.
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Two large Wall Street firms - Morgan Stanley and Bear Stearns - reported a fall in quarterly profits yesterday in sharp contrast to rival players who presented an upbeat performance the day before.
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The newspaper publisher and television station operator said  third-quarter profit fell to $2.5 million as ad revenue slumped.
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Bristol-Myers Squibb Co. BMY.N on  Friday said quarterly profit fell 16 percent on special charges  and lower U.S. sales amid competition from rival brands and  cheaper generics.
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Plus: Novell sees weakness in IT spending...Salesforce reports rise in profit...Nortel to lay off 3,500...Intuit posts loss while revenue rises.
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Plus: TiVo posts small profit...Novell reverses year-earlier profit...Lenovo posts 2006-07 net surge.
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(InfoWorld) - Despite financial and accounting problems at Dell Inc., Novell Inc. and Yahoo Inc., underlying faith in the software sector and a solid first-day performance on Riverbed Technology Inc.'s initial public offering indicate that the end of the year may yet reward IT investors. The early part of the third quarter proved worrisome for technology investors, as high hopes in the beginning of the year gave way to softer than expected sales and a price war for PC makers. But as the fourth quarter approaches, several brokerages have raised their forecasts for the tech sector as a whole. The lower cost of hardware is expected to spark a spending spree by both consumers and corporate buyers by the end of the year. Analysts also see pent-up demand for software. Signs of hope started appearing in August, when for example Merrill Lynch & Co. Inc. released a survey showing that 60 percent of chief information officers polled anticipated increasing software spending in the second half of the year. In addition, Lehman Brothers Inc. and Credit Suisse First Boston have recently recommended that investors take a closer look and invest in technology stocks, reasoning that declines earlier in the year have made some companies a bargain. Stoked by recommendations, the Nasdaq exchange started taking off in August after sinking to a yearly low in July. Good news continued this week, as the debut of Riverbed, a maker of WAN (wide area network) optimization technology, shone on the Nasdaq. Riverbed's (RVBD) initial public offering of 8.7 million shares priced at US$9.75 a share, above the target of $7 to $8.50 a share, and closed at $15.30 Thursday, showing confidence in the network optimization trend. On TuesdayÂ Oracle Corp. reported better-than-expected earnings. Excluding one-time charges for acquisitions, Oracle's earnings per share grew 24 percent to $0.18, better than the $0.16 consensus forecast of analysts polled by Thomson Financial. Several analysts said that Oracle's results, after a similar strong report from Adobe Systems Inc. last week, bode well for the upcoming quarter. Specifically, Oracle's strong sales for new applications and services indicate that businesses are in the mood to buy. Citigroup upgraded Oracle to "buy" from "hold," and UBS Warburg and Deutsche Bank raised their price targets. Some bad news midweek put at least a temporary halt to the Nasdaq rise. Yahoo (YHOO) shares plunged $3.25, to close at $25.75 Tuesday after it warned that slowing growth from automotive and financial services advertisers would affect revenue. The warning pushed down sales of other Internet companies as well. News that both Dell andÂ Novell face delisting from the Nasdaq also helped depress the market Thursday. Due to accounting probes, both companies delayed financial reports, which triggered delisting notices. Hewlett-Packard Co. shares, which up until this week seemed impervious to the company's growing spy scandal, finally took a hit Thursday after revelations that Chief Executive Office Mark Hurd may have known about possible illegal investigative techniques as they were being planned. HP shares (HPQ) closed at $34.87, down by $1.91 Thursday. On balance, the bad news seems company-specific, while the solid software results and the excitement sparked by Riverbed appears to speak more to underlying trends. For the hoped-for fourth quarter tech rally to really happen though, investors need to see some strong quarterly reports next month. Â
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Electronics testing equipment maker Agilent Technologies Inc.  said on Thursday that its first quarter earnings fell from a year earlier, when the company reported a large gain from the sale of its semiconductor products business.
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Business software maker Novell Inc.  posted a preliminary quarterly profit on Tuesday, bouncing back from a year-earlier loss when it took a $38 million restructuring charge.
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Rupert Murdochâs media company said quarterly profit fell 24 percent from a year earlier, when it had a one-time gain from asset sales.