On Wednesday, Samsung Electronics reported profits for the third quarter which surpassed the analysts' expectations. However, the analysts' say that it resulted mainly due to steady sale of components like mobile display and chips as well as the currency exchange rates that remained favorable helping to hide the consistent weakness in the company's smartphone business.
On Thursday, Minnesota based Patterson Companies, Inc. reported first-quarter profit of $29.7 million for its fiscal year.
The company with its corporate office in St. Paul said that its profit was 30 cents on a per-share basis. The earnings for the quarter from continued operations, adjusted for one-time gains and costs was 47 cents a share.
In the latest quarter, Cisco Systems reported revenue and profit that surpassed market expectations. Higher demand for the company's products in the US counter balanced weak sales in other markets.
On Wednesday, its shares climbed almost four percent during the after hour trading and that's good news for the overall network gear sector.
On Friday, Sotheby's, the premier art auction house reported less than expected sales and profits in the latest quarter. It is not that there is a dent in the art market because with growing wealth, art work and paintings are selling in record price. So, what is the reason that is eating up the profits?