Google, Intel, Nokia boost sector hopes

Bellwether companies have posted solid quarterly results, confirming investor confidence that has fueled a rebound in tech sector share pricesEarnings season is in full swing, and results this week from bellwethers like Google, Intel, and Nokia are fueling hopes for a strong fourth quarter while confirming the investor confidence that has led to a rebound in share prices of technology vendors.All eyes were on Google, which Thursday reported another stellar quarter. For the third quarter, net income was $1.07 billion compared with $733.4 million a year ago. Revenue leaped 57 percent to $4.23 billion. The company has made some investors nervous by expanding rapidly and spending a lot of money on acquisitions to fuel growth in new areas. However, its core search business manages to ward off the competition. Google shares jumped $6.14 to $639.62 right after its announcement.
http://www.infoworld.com/article/07/10/18/Google-Intel-Nokia-boost-sector-hopes_1.htmlAlso see:Google profit soars 46 percent
Google said Thursday that third-quarter profit rose 46 percent after extending its lead over Yahoo and selling more ads on YouTube.
http://iht.com/articles/2007/10/18/business/google.phpGoogle’s chiefs face questions following powerful stock surge
By not splitting its stock, Google risks hurting itself and the internet sector. This was the thunderous conclusion of research this week by the technology analyst Mark May at Needham & Co, who has become alarmed at the headlines surrounding the Google share price’s surge through $600 – barely three years after they were floated at $85.
http://news.independent.co.uk/business/news/article3070636.eceNokia Profit Surges 85 Percent
Strong demand for low-cost phones in Africa, the Middle East and Asia lifted the company’s share of the global market to almost 40 percent.
http://www.nytimes.com/2007/10/18/technology/18cnd-nokia.html
http://iht.com/articles/2007/10/18/business/nokia.php
http://www.infoworld.com/article/07/10/18/Nokia-profit-leaps-on-higher-phone-sales_1.htmlGoogle Earnings Beat Estimates — Again
The search megalith reported stellar third-quarter earnings, though it warned that margins may thin as it makes needed investmentsAs a company that regularly beats Wall Street’s earnings estimates, Google needed to blow away expectations on Oct. 18 to impress investors who have propelled the stock to record highs in recent days in anticipation of yet another blockbuster quarterly announcement. Anything less and investors would sell off the stock as they had in past quarters when Google just met or narrowly exceeded analysts’ projections.
http://businessweek.com/technology/content/oct2007/tc20071018_203626.htm

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