Friday, July 23, 2010

Daily Markets - BJ’s Surpasses Zacks Consensus

Daily Markets - BJ’s Surpasses Zacks Consensus


BJ’s Surpasses Zacks Consensus

Posted: 23 Jul 2010 12:00 PM PDT

BJ's Restaurants Inc. (NASDAQ:BJRI) reported second quarter earnings of 23 cents per share, which outdid the Zacks Consensus Estimate of 20 cents, and rose 44% from 16 cents posted in the prior-year quarter. The better-than-expected results were driven by comparable-store sales growth and higher traffic.

Revenues for the quarter under review soared 21% year-over-year to $130.5 million and also outperformed the Zacks Consensus Estimate of $127.0 million. The upside in revenues was helped by 13% … [visit site to read more]


Kimberly-Clark Outpaces Estimates

Posted: 23 Jul 2010 12:00 PM PDT

Kimberly-Clark Corporation (NYSE:KMB) has reported a 23.7% year-over-year growth in the second quarter to $1.20 per share from 97 cents per share in the year-ago period. Reported EPS topped the Zacks Consensus Estimate of $1.13 per share. Earnings benefited from net sales and margin growth.

Kimberly-Clark expects to report fiscal 2010 adjusted earnings of $4.80–$5.00 per share toward the low end of that range. The current Zacks Consensus Estimate $4.76 per share is below the company's … [visit site to read more]


Royal Caribbean Tops, Lifts Guidance

Posted: 23 Jul 2010 11:50 AM PDT

Royal Caribbean Cruises Ltd. (NYSE:RCL) reported second-quarter 2010 non-recurring earnings of 28 cents per share, well ahead of Zacks Consensus Estimate of 19 cents and the year-earlier quarter's loss of 22 cents. Strong results came on the back of an improvement in net yields and strict cost control.

Total revenue in the quarter jumped 23.1% year-over-year to $1.60 billion, almost in-line with the Zacks Consensus Estimates of $1.61 billion. The year-over-year increase in revenue was driven … [visit site to read more]


Amylin Narrows Loss

Posted: 23 Jul 2010 11:30 AM PDT

Amylin Pharmaceuticals (NASDAQ:AMLN) reported a net loss of 28 cents per share in the second quarter of 2010, a cent below the Zacks Consensus Estimate and well below the year-earlier loss of 36 cents. Lower expenses helped the company narrow its loss despite a decline in revenues. Revenues of $164.4 million missed the Zacks Consensus Estimate by $14.6 million.

Quarterly Details

Total revenues for the quarter declined 17.2% mainly due to lower net product sales. Quarterly revenues consisted of … [visit site to read more]


Skyworks Reports In-Line Numbers

Posted: 23 Jul 2010 11:30 AM PDT

Skyworks Solutions, Inc. (NASDAQ:SWKS) posted a net income of $34.7 million or 19 cents per share in the third quarter of fiscal 2010, compared to a net loss of $18.7 million or 11 cents per share in the year-ago quarter. Excluding one-time items, but including stock-based compensation expenses, net income per share came in at 27 cents, in line with the Zacks Consensus Estimate.

Revenues of $275.4 million were up 44% from the year-earlier quarter and up 16% sequentially. The reported figure beat … [visit site to read more]


Athenahealth Outperforms

Posted: 23 Jul 2010 11:20 AM PDT

Leading medical billing and records software provider Athenahealth Inc. (NASDAQ:ATHN) reported an adjusted EPS (excluding charges such as stock-based compensation expenses and amortization of intangibles) of 12 cents for second-quarter fiscal 2010, ahead of the Zacks Consensus Estimate of 6 cents and the year-ago earnings of 10 cents.

However, net income dipped 41% year-over-year to $1.3 million (or 4 cents per share) as higher revenues were more than offset by increased … [visit site to read more]


Cheesecake Factory Tops By 1 Cent

Posted: 23 Jul 2010 11:20 AM PDT

The Cheesecake Factory Inc. (NASDAQ:CAKE) reported earnings of 39 cents a share in the second quarter of fiscal 2010, which modestly beat the Zacks Consensus Estimate of 38 cents. The company also surpassed the prior-year earnings of 28 cents a share.

On a reported basis, including 7 cents a share of expense related to interest rate collar on its revolving credit facility balance, earnings came in at 32 cents a share. The company reported better-than-expected results for the quarter on the heels of … [visit site to read more]


Markets In Everything: The $35 Computer

Posted: 23 Jul 2010 11:08 AM PDT

CS Monitor — “It looks like an iPad, only it’s 1/14th the cost: India has unveiled the prototype of a $35 basic touchscreen tablet aimed at students, which it hopes to bring into production by 2011.

If the Indian government can find a manufacturer, the Linux operating system-based computer would be the latest in a string of “world’s cheapest” innovations to hit the market out of India, which is home to the 100,000 rupee ($2,127) compact Nano car, the 749 rupees ($16) water purifier and the … [visit site to read more]


Earnings Preview: Jacobs

Posted: 23 Jul 2010 11:05 AM PDT

Jacobs Engineering Group Inc. (NYSE:JEC) is scheduled to release its third-quarter 2010 results on July 27. The Zacks Consensus Estimate presently stands at 63 cents per share, 13 cents below the year-ago level of 76 cents, but a penny above the second quarter 2010 EPS of 62 cents. For fiscal 2010, the Zacks Consensus Estimate is currently pegged at $2.46, which is within management's expectation of $2.15 to $2.65.

In the second quarter of fiscal 2010, Jacobs reported an EPS of 62 cents, which … [visit site to read more]


Johnson Controls Barely Misses

Posted: 23 Jul 2010 10:45 AM PDT

Johnson Controls Inc. (NYSE:JCI) showed a profit that more than doubled to $367 million or 54 cents per share in the third quarter of its fiscal 2010 ended June 30, 2010 from $154 million or 25 cents per share in the year-ago quarter (all excluding non-recurring items). But the company just missed the Zacks Consensus Estimate by 1 cent per share.

The improvement in earnings was attributable to higher sales in each of its segments, driven by a recovery in the global markets. Net sales in the … [visit site to read more]


Strong Quarter For Sigma-Aldrich

Posted: 23 Jul 2010 10:45 AM PDT

Sigma-Aldrich Corp. (NASDAQ:SIAL) delivered second quarter earnings of 81 cents, which surpassed both the Zacks Consensus Estimate of 77 cents and prior year EPS of 79 cents.

Revenues rose 6% year-over-year to $554 million and were in line with the Zacks Consensus Estimate. Excluding a 1% negative impact from foreign currency rates, organic growth was 7%. In the international arena, Asia Pacific and Latin America reported strong results with reported and organic growth of 22% and 14%, … [visit site to read more]


Chubb Inches Ahead By A Penny

Posted: 23 Jul 2010 10:45 AM PDT

The Chubb Corp.'s (NYSE:CB) second quarter operating earnings of $1.41 per share came in a penny ahead of the Zacks Consensus Estimate of $1.40. Results were, however, lower than $1.49 earned in the prior-year quarter. The year-over-year decline was primarily due to higher catastrophe losses. Total revenue of $3.2 billion was in line with the Zacks Consensus Estimate.

Net income declined 5.9% year over year to $518 million. However, on a per-share basis, net income increased 3.2% year over year … [visit site to read more]


Which Trading Range?

Posted: 23 Jul 2010 10:38 AM PDT

There wasn’t much to right about this week. I could have expounded about the “trading range” everyone else was talking and writing about but then you wouldn’t have learned anything new or different. My difficulty amidst all the conversation was that I wasn’t quite sure which trading range they were referring to since you actually could point to many depending on the time horizon you were looking at.
You can think of them as one of those Russian matryoshkas dolls. You may not have known what … [visit site to read more]


LabCorp Beats, Boosts Outlook

Posted: 23 Jul 2010 10:30 AM PDT

Leading lab-testing company Laboratory Corporation of America Holdings (NYSE:LH) reported better-than-expected second-quarter fiscal 2010 results with adjusted (excluding restructuring and other special charges) earnings per share of $1.46 beating the Zacks Consensus Estimate of $1.42 and the year-ago earnings of $1.30.
 
The year-ago quarter earnings were impaired by restructuring and special charges of $10.2 million. Net income leapt 12.7% year over year to $153.7 million on the back of … [visit site to read more]


JAKKS’ Results Ahead Of Estimates

Posted: 23 Jul 2010 10:15 AM PDT

JAKKS Pacific Inc. (NASDAQ:JAKK) reported its adjusted second quarter earnings of 11 cents per share, beating the Zacks Consensus Estimate by 6 cents. The company had incurred a loss of 3 cents per share in the year-ago quarter.
 
While the company experienced a decline in net sales, the results were helped by cost cuts, restructuring activities and strong demand for its products.
 
GAAP net income was $3 million or 11 cents per share, compared with a net loss of $406.6 million or $14.96 … [visit site to read more]


SunTrust Trims Losses

Posted: 23 Jul 2010 10:00 AM PDT

SunTrust's (NYSE:STI) second quarter 2010 net loss was $56 million or 11 cents per share compared with a net loss of $229 million or 46 cents in the prior quarter and $164 million or 41 cents in the year-ago quarter. Results also beat the Zacks Consensus Estimate loss of 34 cents per share.
 
Results for the quarter primarily benefited from a rise in non-interest income on a sequential basis, along with a continuing decline in provision for credit losses and a strong capital … [visit site to read more]


Terex Beats, But In Loss Territory

Posted: 23 Jul 2010 10:00 AM PDT

Terex Corp. (NYSE:TEX) continued to incur losses delivering a loss per share of 12 cents in its second quarter ended June 30, 2010, which narrowed from the loss per share of $1 in the year-ago period. However, the second-quarter loss was an improvement from the Zacks Consensus Estimate of a loss per share of 29 cents. Improved order activity across most of its product categories, except cranes, and lower costs led to better-than-expected results.
 
Revenue in the quarter increased by a sharp … [visit site to read more]


Mortgage Servicers Are Hugely Conflicted

Posted: 23 Jul 2010 09:57 AM PDT

Information is everything. Those who control the information have immense power. The allegiances of those in control of the info obviously have an enormous impact on how the information is processed and dispensed. The potential for conflicts of interest are significant. Standard business fare, correct? Have these conflicts played out on Wall Street? All too often. How so?
I have repeatedly highlighted the conflicts within our financial regulatory structure. We also … [visit site to read more]


Diamond Slips, Cuts Dividend Again

Posted: 23 Jul 2010 09:45 AM PDT

Diamond Offshore Drilling Inc. (NYSE:DO) reported weaker-than-expected second quarter 2010 earnings of $1.61 per share, compared with the Zacks Consensus Estimate of $1.75 and the year-ago profit of $2.79. Total revenue of $822.6 million decreased approximately 13% year over year and 5% from the Zacks Consensus Estimate, mainly due to lower utilization and day rates.
   Dividend Story 
The ongoing uncertainty triggered off by the Macondo disaster in the Gulf of Mexico (GoM) has hit … [visit site to read more]


Medco Beats, Raises Outlook

Posted: 23 Jul 2010 09:30 AM PDT

Medco Health Solutions (NYSE:MHS) reported second quarter earnings per share (EPS) of 77 cents, up 20.3% from the year-ago quarter's 64 cents. After adjusting for amortization of intangible assets (6 cents), the company's EPS came in at 83 cents, surpassing both the Zacks Consensus Estimate of 79 cents and the year-ago quarter's 69 cents. However, results for the quarter included approximately 3 cents associated with the settlement of a lawsuit.
 
Medco, the largest pharmacy benefit … [visit site to read more]


Forex Trading: EURUSD Trades Key Technical Ranges Post The Stress Test As Market Digests The News

Posted: 23 Jul 2010 09:29 AM PDT

FLIR Beats, Raises Revenue Outlook

Posted: 23 Jul 2010 09:20 AM PDT

FLIR Systems Inc. (NASDAQ:FLIR) reported a 5.7% increase in its earnings of 37 cents per share for the second quarter of 2010, beating the Zacks Consensus Estimate of 35 cents per share.
 Revenue 
Total revenue for the quarter increased 19% year over year to $331.1 million. About $27 million of revenue was derived from Raymarine acquisition, excluding which total revenue increased 9%.
 
FLIR Systems experienced revenue growth in all its segments. The company's Commercial Systems … [visit site to read more]


Electric Vehicle Wars: “Dude, Where’s My Warranty?”

Posted: 23 Jul 2010 09:08 AM PDT

Friday, July 23, 2010: Issue #1308
As I mentioned here a few weeks ago, I've forked over $99 to reserve a Nissan LEAF all-electric vehicle. And as of mid July, so have over 16,100 other people, according to Nissan.
Since putting down my deposit, I've received numerous e-mails telling me what a great car it will be, what a great choice I've made for the environment, etc.
That's when I actually get the car, of course.
So far, nobody can actually tell me when to expect delivery of the … [visit site to read more]


V.F. Corp. Beats Estimates

Posted: 23 Jul 2010 09:05 AM PDT

V.F. Corporation (NYSE:VFC) reported earnings per share of $1.00 in the second quarter of 2010, which outpaced the Zacks Consensus Estimate of 77 cents a share by 23 cents. Results also surpassed the prior year quarter figure of 68 cents. The strong results came from good cost-control, effective inventory management, and robust sales across all brands.
 
Revenue Discussion
 
V.F. Corp.'s 7.0% increase in sales to $1,594.1 million compared with $1,485.6 million in the prior-year … [visit site to read more]


Ford Profits Improve $3.34B

Posted: 23 Jul 2010 09:05 AM PDT

Ford Motor Co. (NYSE:F) posted a profit of $2.7 billion or 68 cents per share (before special items that include sales of Volvo cars, among other things) in the second quarter of the year, far outdoing the Zacks Consensus Estimate of 40 cents per share. The profit improved $3.34 billion from a loss of $638 million or 21 cents per share (before similar adjustments) in the second quarter of 2009.

Sales in the quarter appreciated 17% to $31.3 billion, higher than the Zacks Consensus Estimate of … [visit site to read more]


ProLogis Marginally Beats

Posted: 23 Jul 2010 09:05 AM PDT

ProLogis (NYSE:PLD), a leading real estate investment trust (REIT), reported second quarter 2010 recurring fund from operations (FFO) of 15 cents per share compared with 19 cents in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and other non-cash expenses to net income. The second quarter 2010 recurring FFO marginally beat the Zacks Consensus Estimate by a penny.
  
ProLogis' industrial … [visit site to read more]


Demographics, Destiny And Asset Markets Boeckh Investment Letter

Posted: 23 Jul 2010 08:50 AM PDT

Here is an excellent article about one of my favorite topics; aging, and the economics problems it will cause.
As the world economy and financial system struggle to regain their footing, they must contend with a number of problems. One of these is a negative change in demographics. The population is aging rapidly and the proportion of retired to working people is rising sharply. While these are slow moving forces compared to, say, banking crises, they are powerful and
inexorable trends that … [visit site to read more]


St. Jude Cruises, Lifts Guidance

Posted: 23 Jul 2010 08:50 AM PDT

Medical devices giant St. Jude Medical (NYSE:STJ) reported strong second-quarter fiscal 2010 results with adjusted earnings per share of 79 cents leaping ahead of the Zacks Consensus Estimate of 73 cents. The adjusted earnings include a tax benefit associated with the federal research and development tax credit.
 
Net income surged 16% year-over-year to $254 million (or 77 cents a share) riding on the double-digit revenue growth across all business segments.
 
Revenues
 
The … [visit site to read more]


FL Home Sales Increase For 22nd Month Year-to-Year, Median Prices Up For Fourth Straight Month

Posted: 23 Jul 2010 08:42 AM PDT

ORLANDO, FL -– Sales of existing homes in Florida rose in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison, according to the latest housing data released yesterday by the Florida Realtors.  Other highlights of the report include:

1. A total of 18,038 single-family existing homes sold statewide last month compared to 15,732 homes last year (see chart above). 

2. June's statewide existing home sales increased … [visit site to read more]


Forex Trading: EURUSD Squeezes Higher Toward Comfort Area As Noon NYT Result Awaited

Posted: 23 Jul 2010 08:41 AM PDT

Check Point Beats Expectations

Posted: 23 Jul 2010 08:30 AM PDT

Check Point Software Technologies Ltd. (NASDAQ:CHKP) reported second-quarter 2010 earnings per share of 53 cents (excluding one-time items, but including stock-based compensation expense) that exceeded the Zacks Consensus Estimate by a penny.
 
Revenues
 
Check Point reported revenue of $261.1 million in the second quarter, up 17% from $223.6 million in the year-ago period and 6.5% from $245.1 million in the prior quarter. The quarter's revenue surpassed the guided range of … [visit site to read more]


Starbucks Meets, Remains Optimistic

Posted: 23 Jul 2010 08:20 AM PDT

Starbucks Corporation (NASDAQ:SBUX), one of the leading roaster and retailer of specialty coffee, registered robust results for the third quarter of 2010. Adjusted quarterly earnings of 29 cents a share came in line with the Zacks Consensus Estimate, but increased 21% from 24 cents delivered in the prior-year quarter. On a reported basis, earnings grew 35% to 27 cents a share compared with 20 cents delivered in year-earlier period.
 
Revenues and Margins
 
Total sales jumped 9% to … [visit site to read more]


Swiss Franc: Under Pressure

Posted: 23 Jul 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Australian Dollar: The Downside Prevails

Posted: 23 Jul 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Canadian Dollar: Under Pressure

Posted: 23 Jul 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Japanese Yen: Caution

Posted: 23 Jul 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]


British Pound: Under Pressure

Posted: 23 Jul 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Euro: The Downside Prevails

Posted: 23 Jul 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Will Bulls’ Sugar Rush Last?

Posted: 23 Jul 2010 08:17 AM PDT

Fundamentals
Sugar futures are once again a sweet treat for bulls, as the nearly 5-month long bear market appears to have ended. Since recent lows were made back in early May, lead month October Sugar has rallied over 4 cents per pound, mainly due to increased buying out of Asia to help replenish Sugar inventories. In addition, heavy rainfall in Brazil, who is the world’s largest Sugar exporter, has hampered the loading of Sugar to waiting vessels in Brazilian ports, with reports of a large … [visit site to read more]


Forex Trading: GBPUSD Falls In Sympathy With The EURUSD But Rebounds. Tests Intraday Resistance

Posted: 23 Jul 2010 07:47 AM PDT

The Investor’s Scenario Surfer: Part Two — A Test Run Of The New Portfolio Allocation Calculator

Posted: 23 Jul 2010 07:38 AM PDT

By Rob Bennett
Note: Please see Part One of this article for background on the calculator and for a discussion of the first five years of results obtained in the test run.
Set forth below is a graphic showing my allocation choices and the results obtained for Years Six through Ten:

The P/E10 level stayed steady for these five years. That's good. It's important to keep in mind that steady valuation levels translate into annual returns of about 6 percent real. My portfolio value increased … [visit site to read more]


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