Intel Corporation Falls On Outlook (BIOF, INTC, BRC, HURC, CMVT)
BioFuel Energy Corp. (NASDAQ:BIOF) shares declined 46% in the last one year. David Einhorn’s Greenlight Capital, has just filed a form 13D with the Securities and Exchange Commission (SEC). Einhorn has increased his holding in BioFuel Energy Corp. This is not a new stock for Greenlight Capital. David Einhorn, through Greenlight Capital and other investment vehicles, held over 25% of the company as of the last filing on June 30th 2012.
Intel Corporation (NASDAQ:INTC) shares declined 0.90% to $24.87 in the pre-market hour after the company said that its third-quarter revenue will be lower than previously expected, owing to weaker-than-expected demand in a challenging macroeconomic environment.
The company now expects revenue to be $13.2 billion, plus or minus $300 million, compared with its previous expectation of revenue between $13.8 billion to $14.8 billion.
Additionally, the company announced that certain of its subsidiaries have completed the previously announced sale of roughly 1,700 patents and patent applications to Intel Corporation for $375 million in cash.
Brady Corp(NYSE:BRC) reported fourth quarter sales of $322.5 million, as compared to $343.1 million in the fourth quarter of fiscal 2011. Net income in the fourth quarter was down 60.6% to $11.7 million compared to $29.6 million in the same quarter last year. Earnings per diluted Class A Common Share were down 60% to $0.22, as compared to $0.55 in the same quarter last year.
Hurco Companies, Inc.(NASDAQ:HURC) reported third fiscal quarter net income of $3,957,000, or $0.61 per diluted share, as compared to $4,575,000, or $0.70 per diluted share, for the corresponding period in fiscal 2011. Sales and service fees for the third quarter totaled $49,959,000, a decrease of $614,000, or 1%, compared to the third quarter of fiscal 2011.
Comverse Technology, Inc.(NASDAQ:CMVT) posted a second-quarter GAAP net loss of $0.27 million, versus a $39.70 million loss in the same period last year. The company reported a breakeven per share for the quarter, as against a loss of $0.19 per share a year ago. Non-GAAP net earnings totaled $24.09 million, or $0.11 per share. Quarterly revenue grew to $383.65 million, from $377.01 million a year before. Analysts expected earnings per share of $0.08 on revenues of $390.36 million for the quarter.