Intel's (INTC) Little Step-Brother...Mr. Can't Get Right (AMD)
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Price: $4.07 -0.49%
Rating Summary:
5 Buy, 15 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
5 Buy, 15 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade AMD Now!
We've seen this story before. AMD (NYSE: AMD) warns, guides lower or reports weaker-than expected quarterly financials. Intel's (Nasdaq: INTC) little step-brother...Undoubtedly, this isn't a Research In Motion (Nasdaq: RIMM) story, but AMD just can't get it right. The five-year chart looks like a pretty exciting roller coaster.
Last night, after the close, AMD said it's second quarter revenues were expected to decrease by 11% sequentially (vs. -3% to +3%). Business conditions are to blame, especially in China and Europe. The bright spot - Margin guidance was in-line, and operating expenses projected below previous forecasts. Q2 earnings are expected to be released on July 19.
Several brokerage firms made comments this morning, although, Sterne Agee downgraded AMD four days before the pre-announcement. Jefferies maintained a 'Buy' rating, but slashed estimates, Deutsche Bank and Nomura remain at 'Hold/Neutral', but both cut estimates. Canaccord Genuity and Williams Financial are staying at a 'Buy' and Goldman Sachs is staying with a 'Sell'.
To see details from each analyst, just click the firm's name.
Currently, shares of AMD are trading down $0.40 (-7.15%) to $5.22. Intel is currently down, but less than 1%.
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Last night, after the close, AMD said it's second quarter revenues were expected to decrease by 11% sequentially (vs. -3% to +3%). Business conditions are to blame, especially in China and Europe. The bright spot - Margin guidance was in-line, and operating expenses projected below previous forecasts. Q2 earnings are expected to be released on July 19.
Several brokerage firms made comments this morning, although, Sterne Agee downgraded AMD four days before the pre-announcement. Jefferies maintained a 'Buy' rating, but slashed estimates, Deutsche Bank and Nomura remain at 'Hold/Neutral', but both cut estimates. Canaccord Genuity and Williams Financial are staying at a 'Buy' and Goldman Sachs is staying with a 'Sell'.
To see details from each analyst, just click the firm's name.
Currently, shares of AMD are trading down $0.40 (-7.15%) to $5.22. Intel is currently down, but less than 1%.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Earnings, Guidance, Trader TalkRelated Entities
Deutsche Bank, Jefferies & Co, Sterne Agee, Nomura, Earnings, Canaccord Genuity
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