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Weekly Upbeat Guidance Newsbytes (Oct.26-Oct.30)
11/1/2009 6:11 AM ET

RELATED NEWS
Insulet Corp To Present At The J.P. Morgan Healthcare Conference; Webcast At 5:00 PM ET
Insulet Corp. Has Risen To A New High For The Year

Trade PODD now with
(RTTNews) - Many of the companies, which reported earnings during the fourth week of the third-quarter earnings season, ended October 30, continued to blow away analysts' estimates. The revenue growth -- the main focus this earnings season, has been mixed. However, a number of companies have boosted their outlook, underscoring a rebound. The following are some of the companies, which issued upbeat outlook in the week.

Marvell Technology Group Ltd - Will It Work Wonders?

Chipmaker Marvell Technology Group Ltd. (MRVL) boosted its third-quarter revenue outlook Monday, citing broad improvement in demand within multiple end markets. The company is scheduled to report its third-quarter results on December 3.

The company serves the storage market providing products to Fujitsu Ltd., Hitachi Ltd., Samsung Semiconductor, Seagate Technology, Toshiba Corporation and Western Digital Corporation; broadband communications market providing products to Asustek Computer Inc., Cisco Systems, Inc., Dell Inc., Huawei, Juniper Networks, Inc., Brocade Communication Systems, Inc., Intel and NETGEAR, Inc; emerging consumer electronic devices market offering products to Microsoft Corporation, Motorola, Inc., PalmOne and Sony Corp.

For the third-quarter of fiscal 2010, ending October 31, Marvell Tech now expects net revenue to range between $760 million and $775 million, up from its prior forecast of $680 million to $730 million. The revised outlook represents 19% to 21% increase over net revenue of $641 million reported for the second quarter of fiscal 2010, ended August 1, 2009. Wall Street analysts have a consensus revenue estimate of $769.98 million.

Over the past seven days, brokerage analysts have raised their earnings projections for the third-quarter by 5 cents to $0.27 per share.
MRVL, which lost more than 5% over the past five days, closed Friday's trading at $13.72.

Rural/Metro Corp. - Smooth Ride Ahead?

Rural/Metro Corp. (RURL), a national provider of ambulance and private fire protection services, said Monday that it expects revenue for its fiscal 2010 first-quarter ended September 30 to increase more than 6% over the year-ago quarter.

The company is scheduled to report its first-quarter results on November 9. For the first-quarter of fiscal 2010, Rural/Metro forecast income from continuing operations of $3.5 million and net revenue of $132.0 million. That compares with income from continuing operations of $1.09 million and net revenue of $124.4 million in the first-quarter of fiscal 2009.

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The major U.S. index futures are pointing to a higher opening on Tuesday, with European debt concerns receding following indications from European Commission officials that they may step in to save Greece from getting mired in the debt crisis. Commodity prices are extending their gains and this coupled with the oversold levels of the markets may support a bounce back. Given the fact that the wholesale inventories report to be released after the markets close is not market moving, the markets may derive support from hopes that the economic revival may not lose steam despite the surrounding uncertainty.
The Week In Washington  Lawmakers spent a busy week in Washington discussing the recently unveiled Fiscal Year 2011 budget, and the Democrats new jobs agenda

 

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