BUSINESS NOTES MORE CONSUMERS ABLE TO BUY HOMES.Byline: - Staff and wire reports The percentage of households in California able to afford a median-priced home improved by two percentage points in May compared with a year ago, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report released Thursday by the California Association of Realtors. The May 2001 Housing Affordability Index stood at 33 percent, up two points from 31 percent in May 2000. The May index was down one point compared with April 2001, when it stood at 34 percent. The report measures the percentage of households that can afford to purchase a median-priced home in California. Tekelec earnings below estimate CALABASAS - Telecommunications developer Tekelec will likely earn up to $20 million less than it previously stated, the company announced Thursday. Rather than its previous estimate in the range of $88 million to $90 million, earnings will likely be near $70 million. This translates into earnings per share of 2 cents to 3 cents. The firm blamed reduced business at the end of the quarter, as well as unanticipated order delays. < MSN Messenger Microsoft's instant messaging (IM) service, which provides text messaging and voice calling. Part of the MSN Network, MSN Messenger clients are available for non-XP versions of Windows, Mac, Pocket PC and MSN TV. For Windows XP, the IM client is Windows Messenger. users face glitch A temporary or random hardware malfunction. It is possible that a bug in a program may cause the hardware to appear as if it had a glitch in it and vice versa. At times it can be extremely difficult to determine whether a problem lies within the hardware or the software. See glitch attack. SEATTLE - Microsoft Corp. is working to fix a problem that has left about a third of MSN Messenger users either unable to log on or access their personal address books, known as buddy lists. Microsoft product manager Sarah Lefko said Thursday that the problem occurred after one part of the product's database services failed and the backup failed as well. Customers began reporting problems with the MSN Messenger on Wednesday. Lefko said the system would be back up shortly but could not provide an exact time. WorldCom trims quarterly forecast NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - WorldCom on Thursday reduced its profit and revenue forecasts, which it said will no longer reflect the company's stake in a Brazilian telephone company as well as other factors. The provider of telephone and Internet services now expects to post operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before of between $1.05 to $1.10 per share, excluding any impact from WorldCom's minority stake in Embratel. WorldCom had previously forecast a profit of $1.21 to $1.31 from its core operations. Advanced Micro sales fall sharply SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. - Chip maker Advanced Micro Devices Inc. warned Thursday its second-quarter earnings will fall far short of expectations as sales declined 17 percent from the first quarter. Investors sent shares down 16 percent in after-hours trading after-hours trading The trading of securities after the exchanges are closed. After-hours trading often refers to trading a listed security in the over-the-counter market after the exchanges have been closed for the day. . The Sunnyvale, Calif.-based company now expects per-share net earnings to range from 3 cents to 5 cents per diluted share. Analysts were expecting per-share earnings of 27 cents, according to a survey by Thomson Financial/First Call. AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. blamed the wider-than-expected sales decline on continuing weak demand for flash memory found in digital cameras, cell phones and other electronic devices. It also blamed competitive pressures in the PC microprocessor market. EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. to disappoint market analysts BOSTON - Data-storage giant EMC officials said second-quarter earnings will fall well short of Wall Street's expectations, the latest signal of a dire slowdown in information technology spending. The warning sent shares down nearly 16 percent in after-hours trading Thursday. Hopkinton-based EMC said it expects earnings per share of 4 to 6 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the quarter ending June 30. Analysts surveyed by Thomson Financial/First Call had been expecting earnings of 17 cents per share. EMC blamed the warning on a global slowdown, compounded by a strong U.S. dollar that harmed sales in Europe. |
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