warning sending shares higher / warnungen führen zu freudenspüngen
Microchip Technology Shares Jump Despite Weak 4th-Quarter Outlook
....For the third quarter, the company projected a 5 percent sequential decline in third-quarter sales, which fell short of analysts' expectations.
buyback to the rescue........
Microchip Technology Announces Additional Stock Repurchase Authorization
authorized the Company to purchase up to 10 million shares of its Common Stock in the open market or in privately negotiated transactions. The Board of Directors previously authorized the Company, on April 22, 2004, to purchase up to 2.5 million shares of its Common Stock. As of September 30, 2006, approximately 1.5 million shares remained available for purchase under this program(this shows you just how few they have bought back the past 2 years in the real world)
Black & Decker Posts Lower 3rd-Quarter Earnings on Weaker Demand, Cost Pressures
The company also forecasts fourth-quarter and full-year results below Wall Street expectations.
The company forecast fourth-quarter earnings from continuing operations in the range of $1.85 to $1.90 per share, and full-year profit from continuing operations of $7 to $7.05.
Currently, Wall Street is looking for higher earnings of $2.07 per share and $7.21 per share for the fourth quarter and full year, respectively.
The company's board has increased its stock buyback plan by three million shares, leaving about 4.9 million shares authorized for repurchase