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Applied Materials forecast to post lower earnings
By Carla Mozee, MarketWatch
Last Update: 1:36 PM ET Nov 11, 2009
LOS ANGELES (MarketWatch) -- Applied Materials Inc. and Computer Sciences Corp. are set to release quarterly results Wednesday evening, with the chip-equipment maker expected post a slide in earnings while the systems integration and outsourcing company is expected report an earnings surge.
Applied Materials AMAT is expected to report an 85% drop in earnings to 3 cents a share for its fiscal fourth quarter, according to analysts surveyed by FactSet Research. Revenue is likely to fall 35% to $1.32 billion.
Computer Sciences Corp. CSC is forecast to report $1.35 a share in fiscal second-quarter earnings, which would represent a 92% jump from the same period a year ago. Revenue, however, is expected to decline 5% to $4.01 billion, according to analysts surveyed by Thomson Reuters.
Ahead of evening-session trades, U.S. stocks moved higher, with further declines in the greenback allowing many investors to sell the currency and use the proceeds to purchase stock. Read more about U.S. stocks.
The S&P 500 Index $SPX hovered around the 1,100 mark in afternoon trade. The Dow Jones Industrial Average $INDU gained 27 points to 10,273 and the Nasdaq Composite COMP rose 0.4% to 2,160.
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