Daily Markets - Invesco Reports In Line |
- Invesco Reports In Line
- Occidental Misses Marginally
- Nasdaq Beats By 3 Cents
- Western Union Delivers Ahead
- Regions Losses Narrower Than Ests
- Earnings Scorecard: Universal Forest
- Hanesbrands Positive, Outlook Up
- Ecolab Meets Estimates, Reaffirms
- ABC Beats, Raises Outlook Again
- Trucking Tonnage Falls In June But Remains 7.6% Above June Last Year
- Good For Something
- Lexmark Exceeds Expectations
- PACCAR Profits More Than Triple
- CIT Group Beats, Profit Soars
- International Paper Monetizes Land
- Bemis Beats, Ups Guidance
- Cummins Profit More Than Fourfold
- Another Buyer For Pactiv, Shares Up
- L-3 Beats, Lowers Guidance
- Earnings Scorecard: Marriott
- Cytec Industries Inc.: Was Its Second-Quarter Jump A One-Time Fluke?
- Positive Data On Onyx’s Carfilzomib
- Lockheed Topples Estimates
- Alcon Beats Easily; Raises Guidance
- Michigan Economic Activity Index; Fifth Straight Monthly Double-Digit Increase In June
- Supervalu Bottom Line Sinks
| Posted: 27 Jul 2010 03:15 PM PDT Invesco Limited's (NYSE:IVZ) second quarter 2010 earnings came in at 27 cents per share, in line with the Zacks Consensus Estimate and the prior-quarter earnings. This also compares favorably with earnings of 21 cents in the prior-year quarter. On a GAAP basis, earnings came in at 9 cents per share, compared with 21 cents in the prior quarter and 18 cents in the year-ago quarter. GAAP results for the reported quarter included $79.3 million of transaction and integration charges related to the … [visit site to read more]
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| Posted: 27 Jul 2010 03:00 PM PDT Occidental Petroleum Corporation (NYSE:OXY) announced second-quarter 2010 operating earnings of $1.31 per share versus 84 cents in the year-ago quarter, reflecting growth of 56%. The results of the company fell short of the Zacks Consensus Estimate of $1.34 per share by 3 cents. Total Revenue Occidental's total operating revenue for second-quarter 2010 was $4.8 billion versus $3.7 billion reported in the year-ago period. The actual results of the company were in line with the Zacks Consensus … [visit site to read more]
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| Posted: 27 Jul 2010 02:50 PM PDT Nasdaq OMX Group Inc.'s (NASDAQ:NDAQ) second quarter operating earnings per share of 52 cents surpassed the Zacks Consensus Estimate of 49 cents and prior-quarter earnings of 43 cents. Operating earnings increased substantially from 47 cents reported in the prior-year quarter. Total operating earnings, on non-GAAP basis, were $108 million, up from $92 million in the prior quarter and $99 million reported in the year-ago quarter. Nasdaq's GAAP net income was $96 million or 46 cents per share, up … [visit site to read more]
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| Posted: 27 Jul 2010 02:50 PM PDT Western Union Co.'s (NYSE:WU) second quarter earnings came in at 37 cents per share ahead of the Zacks Consensus Estimate of 32 cents. The company has experienced strong transaction growth in the Americas, along with improving international trends. Earnings also compared favorably with the prior-year quarter, when the company had earned 31 cents per share. Western Union's revenue for the quarter of $1.3 billion came in line with the Zacks Consensus Estimate and was up 2% year over year. On a … [visit site to read more]
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| Regions Losses Narrower Than Ests Posted: 27 Jul 2010 02:30 PM PDT Regions Financial's (NYSE:RF) second quarter loss came in at 11 cents per share, better than the Zacks Consensus Estimate of a loss of 20 cents per share. Last year, the company reported a loss of 28 cents per share. Including the Morgan Keegan regulatory proceedings of $200.0 million, Regions' loss was 28 cents per diluted share, which compares with a loss of 21 cents in the prior quarter. Results for the quarter improved primarily due to core revenue growth, lower adjusted non-interest … [visit site to read more]
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| Earnings Scorecard: Universal Forest Posted: 27 Jul 2010 02:30 PM PDT Disappointing second quarter results and concerns over volatility in the lumber market restricted positive response for Universal Forest Products Inc. (NASDAQ:UFPI), following its earnings release on July 14, 2010. A healthy top line on the back of end markets growth was more than offset by higher cost of sales due to volatile lumber prices in the quarter. Earnings Review Universal Forest reported a net income decline despite its healthy top-line growth. Net income slipped 14.9% year … [visit site to read more]
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| Hanesbrands Positive, Outlook Up Posted: 27 Jul 2010 02:15 PM PDT Hanesbrands Inc. (NYSE:HBI) has delivered robust second quarter results of 2010 and lifted its revenue and earnings projection for fiscal 2010. Earnings shot up 109% year over year in the quarter to 67 cents a share from 32 cents a share registered in the year-ago period, reflecting elevated sales, operating margin expansion and benefit from restructuring. The quarterly earnings were in line with the Zacks Consensus Estimate. Based on sales growth, Hanesbrands advanced its fiscal 2010 earnings … [visit site to read more]
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| Ecolab Meets Estimates, Reaffirms Posted: 27 Jul 2010 02:00 PM PDT Ecolab Inc (NYSE:ECL), a leading provider of cleaning and sanitation products, reported second-quarter fiscal 2010 adjusted (excluding special gains and charges) earnings of 56 cents, matching the Zacks Consensus Estimate while topping the year-ago earnings of 50 cents. Net income surged 30% year-over-year to $129 million (or 54 cents a share). Net sales climbed 5% year-over-year to $1.52 billion, also in line with the Zacks Consensus Estimate. The results were driven by strong performances … [visit site to read more]
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| ABC Beats, Raises Outlook Again Posted: 27 Jul 2010 02:00 PM PDT AmerisourceBergen Corporation's (NYSE:ABC) third quarter fiscal 2010 earnings (excluding a gain of 5 cents from special items) of 52 cents per share, surpassed the Zacks Consensus Estimate by 3 cents. Adjusted earnings increased approximately 24% from the year-ago period. The strong performance in the reported quarter was driven by strong sales of generic medicines and continued expense management. Total revenues for the reported quarter climbed 6.6% year-over-year to $19.6 billion. Revenues … [visit site to read more]
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| Trucking Tonnage Falls In June But Remains 7.6% Above June Last Year Posted: 27 Jul 2010 01:58 PM PDT ARLINGTON, VA — “The American Trucking Associations' advance seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 1.4 percent in June, although May's reduction was revised from 0.6 percent to just 0.1 percent. May and June marked the first back-to-back contractions since March and April 2009. The latest reduction lowered the SA index from 110.1 (2000=100) in May to 108.5 in June (see chart above).” On a 12-month basis, trucking activity looks a little … [visit site to read more]
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| Posted: 27 Jul 2010 01:54 PM PDT In his latest Global Strategy Weekly, Albert Edwards, a senior member (along with Dylan Grice) of Society Generale’s well regarded Global Strategy Team, notes that one of his favorite (and most over-looked) leading indicators is signalling trouble ahead. This gauge, which tracks changes in analyst optimism (yes, they are good for something), has dropped sharply in recent months, suggesting that another U.S. downturn is on the cards. In addition, those delusiabulls who believe that what … [visit site to read more]
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| Posted: 27 Jul 2010 01:45 PM PDT Lexmark International Inc.'s (NYSE:LXK) second quarter 2010 EPS of $1.23 per share exceeded the Zacks Consensus Estimate of $0.92. Earnings were also higher than $0.55 per share recorded in the year-ago quarter. Revenue for the quarter of $1033.0 million also exceeded the Zacks Consensus of $970.0 million. Revenue Second quarter revenue of $1033.0 million increased 14.0% compared to $904.6 million reported in the year-ago quarter. The substantial growth in revenue can be attributed to growth … [visit site to read more]
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| PACCAR Profits More Than Triple Posted: 27 Jul 2010 01:30 PM PDT PACCAR Inc. (NASDAQ:PCAR) has reported a profit of $99.6 million or 27 cents per share in the second quarter of the year that more than tripled from $26.5 million or 7 cents per share in the prior-year quarter. With this, the truck maker has exceeded the Zacks Consensus Estimate of 20 cents per share for the quarter. Revenues in the quarter surged 33% to $2.46 billion, up from the Zacks Consensus Estimate of $2.06 billion. The improved results were attributable to stronger truck sales around the … [visit site to read more]
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| Posted: 27 Jul 2010 01:15 PM PDT CIT Group Inc.'s (NYSE:CIT) second quarter earnings came in at 71 cents per share, substantially ahead of the Zacks Consensus Estimate of 30 cents. This also compares very favorably with prior quarter's earnings of 49 cents. Results for the quarter benefited primarily from higher non-spread revenue. Also, the quarter experienced gains on sales of assets and recoveries of charged-off receivables. However, higher operating expenses and increased provision for credit losses were the downside. … [visit site to read more]
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| International Paper Monetizes Land Posted: 27 Jul 2010 01:15 PM PDT International Paper Company (NYSE:IP) decided to sell 163,000 acres of properties located in the southeastern United States for approximately $200 million in order to complete the process of monetization of its forest land and realty holdings. International Paper will sell the property to an affiliate of Rock Creek Capital.
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| Posted: 27 Jul 2010 01:05 PM PDT Bemis Company Incorporation (NYSE:BMS) reported second-quarter 2010 adjusted earnings of 58 cents per share, beating the Zacks Consensus Estimate of 56 cents. Results also compare favorably with adjusted earnings of 50 cents per share in the year-ago period. The 16% year-over-year improvement was largely driven by accretive acquisitions, manufacturing savings and sales mix improvements. Including expenses related to purchases accounting for inventory and order backlog of 2 cents per share and … [visit site to read more]
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| Cummins Profit More Than Fourfold Posted: 27 Jul 2010 12:50 PM PDT Cummins Inc. (NYSE:CMI) witnessed more than fourfold increase in profit to $246 million or $1.25 per share in the second quarter of the year from $56 million or 28 cents per share in the same quarter a year ago. The company also significantly outpaced the Zacks Consensus Estimate of 89 cents per share during the quarter. The company's results were backed by enhanced productivity and strong sales gains in its international markets. Sales in the non-U.S. markets, which accounted for 64% of the … [visit site to read more]
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| Another Buyer For Pactiv, Shares Up Posted: 27 Jul 2010 12:50 PM PDT According to a New York Post report, the attempt to acquire Pactiv Corp. (PTV) continues, with the latest entrant being Wichita Kansas-based privately held conglomerate Koch Industries. The news boosted Pactiv shares by 4% to $30.85, an all time high since the company had last seen the $30 territory on October 15, 2007.
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| Posted: 27 Jul 2010 12:30 PM PDT L-3 Communications Holdings Inc. (NYSE:LLL) reported better-than-expected second quarter 2010 (ended June 25, 2010) results. In the reported quarter, the company achieved earnings of $2.04 per share (excluding debt retirement charge and incremental interest expense of $0.09), higher than the Zacks Consensus Estimate of $1.93. The upside mainly came from the Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (C3ISR) and the Aircraft Modernization and Maintenance … [visit site to read more]
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| Posted: 27 Jul 2010 12:30 PM PDT Marriott International Inc. (MAR), a leading worldwide hospitality company, posted better-than-expected second quarter results on July 14, 2010, buoyed by RevPAR growth, which was particularly in North America and an improvement in lodging industry, prompting management to raise the outlook for fiscal 2010. The recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for both the short-term and the long-term outlook for the stock are covered … [visit site to read more]
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| Cytec Industries Inc.: Was Its Second-Quarter Jump A One-Time Fluke? Posted: 27 Jul 2010 12:27 PM PDT Cytec Industries Inc.: Was Its Second-Quarter Jump a One-Time Fluke?
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| Positive Data On Onyx’s Carfilzomib Posted: 27 Jul 2010 12:20 PM PDT Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) recently presented positive top-line results on its multiple myeloma candidate, carfilzomib. Results from the phase IIb study showed that patients treated with carfilzomib achieved an overall response rate of 24%. While the median duration of response was 7.4 months, the clinical benefit rate was 36%. Onyx Pharma said that carfilzomib was well-tolerated with no unexpected or new toxicities being observed. Onyx Pharma will present full data from the study at … [visit site to read more]
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| Posted: 27 Jul 2010 12:20 PM PDT Before markets opened today, Lockheed Martin Corporation (NYSE:LMT) reported strong second quarter fiscal 2010 results sailing past the Zacks Consensus estimate of $1.78. On a reported basis with an EPS of $2.22, the company topped the year-ago quarterly earnings of $1.88. Excluding discontinued operations and a tax benefit related to the recognition of a deferred tax asset, EPS was $1.96 compared to $1.87 in the year-ago period. Operating Statistics A different picture was on the revenue front, … [visit site to read more]
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| Alcon Beats Easily; Raises Guidance Posted: 27 Jul 2010 12:20 PM PDT Alcon Inc. (ACL) reported second-quarter earnings of $2.22 per share, easily beating the Zacks Consensus Estimate of $2.03 and 14.4% ahead of the year-ago figure. Earnings were boosted by strong revenues.
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| Michigan Economic Activity Index; Fifth Straight Monthly Double-Digit Increase In June Posted: 27 Jul 2010 12:09 PM PDT Comerica Bank's Michigan Economic Activity Index rose one point in June, to a level of 84. June's reading is up 13 points from the same period a year ago, marking the fifth consecutive double-digit increase in the Index, on a 12-month basis. Year-to-date, the Index is up nine points, or 12.4 percent, from the average for all of 2009. The May Index was unrevised from a level of 83. "Our Index ticked up for the second month in a row, to a level that matches the March cyclical peak," … [visit site to read more]
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| Posted: 27 Jul 2010 12:00 PM PDT Supervalu Inc. (NYSE:SVU), one of the largest grocery chains in the United States, delivered diminutive earnings for the first quarter of fiscal 2011. Quarterly earnings of 43 cents a share plunged 22% compared with 55 cents posted in the year-ago period. However, the earnings result outpaced the Zacks Consensus Estimate by a penny. On a reported basis, including one-time items, earnings came in at 31 cents a share versus 53 cents delivered in the prior-year quarter. Supervalu re-affirms fiscal … [visit site to read more]
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