Applied Materials Profit Drops 65% on Memory Slump, Stock Jumps (AMAT)

I didn't listen to the call, we'll comment when the transcript comes out. The stock is up 4% in after-hours trading.
From Bloomberg:

Applied Materials Inc., the largest maker of machinery that produces computer chips, reported the biggest profit decline in five quarters after filling fewer orders from memory-chip companies....MORE

From TradingMarkets:
Applied Materials Guides Earnings Below Estimates
From Tech Trader Daily:

4:33 EDT
Applied Materials 3Q Sales $1.85B; $0.12 Profit Misses

...On the side of the business that supplies solar panel technology companies, Splinter was upbeat. “We made significant progress in our solar division during the quarter,” he said in the prepared remarks, “substantially increasing the number of crystalline silicon systems shipped and enabling start-up production on the first four SunFab Thin Film lines at customer sites.” Sales in the “Energy” division of Applied more than doubled from the first quarter, to $174 million, while the company booked $322 million of new orders, it reported.

and

5:08EDT
Applied 4Q Forecast Light, Says 3Q Was Silicon “Trough”

Finally, from the Psychic Analyst Network (aka 24/7 Wall Street):

Applied Materials Investors Look to SunFab For Growth (AMAT)

Applied Materials Inc. (NASDAQ: AMAT) is set to report earnings after the close. What is odd is that the company might be given a total pass over this last quarter and perhaps even one quarter out now that so many chip stocks and chip cap-ex stocks have reported. If you review the analysis and metrics below you'll likely determine that the news isn't expected to be great nor is it expected to be horrible....

... This solar operation is still too small for it to make a substantial difference in the orders already received when looking backwards at quarterly reports before this year. But its energy & environmental orders booked as of last quarter were $257 million and its booked revenues were as net sales were $45 million. Out into fiscal 2009 Applied looks different with SunFab contributing more on new orders that have been added to backlog but not as current or past revenues yet. In theory, out a year or so you could even almost begin to evaluate the SunFab unit completely on its own as the unit could be 15% to 20% of Applied Materials' total business...MORE