Boise, ID-based semiconductor producer Micron Technology (MU - Free Report) posted fiscal Q2 2019 earnings results after the closing bell Wednesday. And, for the first time since we re-calibrated earnings surprises going back to Q2 2015 (accounting for stock-based compensation), Micron missed estimates on the bottom line: earnings of $1.71 per share was shy of the Zacks consensus by 2 cents, while revenues in the quarter of $5.84 billion was beneath the $5.92 billion analysts were looking for.
There was some concern that Average Sale Prices (ASPs) would be weaker in the quarter, especially with economic weakness being experienced in Asia over the time period. This issue will undoubtedly be addressed during Micron's conference call, which is scheduled to begin at 4:30pm ET.
Shares have not been negatively impacted in late trading folloiwng the earnings release, up roughly 0.30%, but considering MU stock has traded up about 30% from the beginning of the year and didn't get hammered on the miss, I'm sure they'll take it. Micron had been a Zacks Rank #4 (Sell)-rated company with a Style Score (Value - Growth - Momentum) of A.
Guess? (GES - Free Report) shares are getting hammered in after-hours trading following its Q4 earnings release where the company also missed on top and bottom lines: earnings of 70 cents per share missed the Zacks consensus of 76 cents, while quarterly revenues brought in $837 million, under the $840 million and changed we were predicting. Shares are down 7% at this hour, to the lower part of the company's medium-term range.
Williams-Sonoma (WSM - Free Report) also posted Q4 eanings results Wednesday afternoon, taking out both estimates on both top and bottom lines: $2.10 per share (adjusted) topped the $1.97 we had been expecting, on $1.84 billion that beat the $1.80 billion consensus. The company also announced a quarterly dividend hike of 11.6%, to 48 cents per share, and a $500 million share buyback program.
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