Daily Markets - Life Beats Estimates

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• Life Beats Estimates
• WPZ Slips, Net Increases
• Weyerhaeuser Beats Zacks Estimate
• Goodyear Far Exceeds Expectations
• Tenneco Outpaces Estimates
• Swiss Franc: Under Pressure
• Australian Dollar: The Downside Prevails
• Canadian Dollar: Under Pressure
• Japanese Yen: Caution
• British Pound: Under Pressure
• Euro: The Downside Prevails
• Merck EPS Beats Estimates
• Repsol Tops On Strong Prices
• MWIV Beats, Raises Guidance
• WESCO Beats Zacks View
• Flushing Money Down The Toilet
• Attention, Barrelheads: Petrobras Shares Are On Sale
• Navigant Matches Zacks Estimate
• Thoratec Beats Zacks Estimates
• Rick Davis Goes Inside The GDP Report
• SXL’s Profit Falls, Revenue Rises
• DryShips Outperforms
• Wynn Beats On Massive Macau Growth
• Stock Buy: UAL Corp.
• KLAC Beats, Memory Softens
• Chevron Profits Shoot Up

Life Beats Estimates Posted: 30 Jul 2010 10:00 AM PDT Life Technologies Corporation (LIFE) reported an EPS of 58 cents in the second quarter of 2010 compared to 22 cents in the year-ago period. However, after adjusting for certain one-time items, the EPS was 91 cents, surpassing the Zacks Consensus Estimate of 87 cents and 15% higher than 79 cents of the year-ago quarter.   Strong growth in all the divisions of Life helped adjusted revenues increase 8% year over year to $906 million, marginally ahead of the Zacks Consensus Estimate of $899 … [visit site to read more]

WPZ Slips, Net Increases Posted: 30 Jul 2010 10:00 AM PDT Williams Partners L.P. (NYSE:WPZ) reported its second-quarter 2010 earnings of 66 cents per limited-partner unit, compared with the Zacks Consensus Estimate of 77 cents and year-earlier earnings of 48 cents. Net income was $170 million in the quarter, up substantially from $26 million in the second quarter 2009. The positive comparison with the year-earlier quarter was driven by higher natural gas liquid (NGL) margins in the midstream business, substantially offset by higher interest expense … [visit site to read more]

Weyerhaeuser Beats Zacks Estimate Posted: 30 Jul 2010 09:45 AM PDT Weyerhaeuser Co. (NYSE:WY) reported its financial results for the second quarter of 2010. Net income in the quarter was $42.0 million or 20 cents per share, compared with a net loss of $125.0 million or 59 cents per share in the second quarter of 2009. Earnings per share (EPS) surpassed the Zacks Consensus Estimate of 13 cents. Earnings per share in the second quarter of 2010 excludes approximately $33 million, or 16 cents per share of after-tax charge related to an early extinguishment of debt … [visit site to read more]

Goodyear Far Exceeds Expectations Posted: 30 Jul 2010 09:45 AM PDT Goodyear Tire & Rubber Company (NYSE:GT) saw a profit of $31 million or 12 cents per share (excluding special items) in the second quarter of the year in sharp contrast to a loss of $240 million or $1.00 per share (excluding special items) in the same quarter a year ago.   The company has also significantly exceeded the Zacks Consensus Estimate of a profit of 4 cents per share. The higher profit was led by an impressive rise in tire unit volume, particularly in the company's North … [visit site to read more]

Tenneco Outpaces Estimates Posted: 30 Jul 2010 09:30 AM PDT Tenneco Inc. (NYSE:TEN) showed a profit of $38 million or 62 cents per share (before special items) during the second quarter of 2010 versus a loss of $10 million or 22 cents per share (before special items) in the same quarter of previous year. The company has far exceeded the Zacks Consensus Estimate of 44 cents during the quarter.   Revenue in the quarter surged 36% to $1.5 billion on the back of a strong original equipment (OE) production volumes across all regions including new launches … [visit site to read more]

Swiss Franc: Under Pressure Posted: 30 Jul 2010 09:20 AM PDT Update on supports and resistances. … [visit site to read more]

Australian Dollar: The Downside Prevails Posted: 30 Jul 2010 09:20 AM PDT Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Under Pressure Posted: 30 Jul 2010 09:20 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: Caution Posted: 30 Jul 2010 09:20 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: Under Pressure Posted: 30 Jul 2010 09:20 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: The Downside Prevails Posted: 30 Jul 2010 09:20 AM PDT Update on supports and resistances. … [visit site to read more]

Merck EPS Beats Estimates Posted: 30 Jul 2010 09:15 AM PDT Merck & Co.’s (NYSE:MRK) earnings per share for the second quarter of 2010 came in at 86 cents, 4 cents above the Zacks Consensus Estimate and 3.6% above the year-ago earnings of 83 cents. However, including adjustments, the company reported earnings of 24 cents, well below the year-ago earnings of 74 cents. Merck reported revenues of $11.35 billion, missing the Zacks Consensus Estimate of $11.5 billion. The US healthcare reform impacted revenues by $44 million in the reported quarter. … [visit site to read more]

Repsol Tops On Strong Prices Posted: 30 Jul 2010 09:15 AM PDT Repsol YPF S.A. (NYSE:REP) reported significantly better-than-expected second-quarter earnings of 65 cents per ADR, topping the Zacks Consensus Estimate of 48 cents and year-earlier earnings of 51 cents. Net income from continuing operation was $814 million, up 38% year over year. Total revenue in the quarter was $18.8 billion, up 29.3% from the year-earlier quarter. The strong results were driven by improved commodity prices, higher liquids volume, appreciation of dollar, and solid contribution … [visit site to read more]

MWIV Beats, Raises Guidance Posted: 30 Jul 2010 09:05 AM PDT MWI Veterinary Supply (NASDAQ:MWIV) reported earnings per share (EPS) of 74 cents in the third quarter of 2010, up 37% from 54 cents in the year-ago period. The Zacks Consensus Estimate for the quarter was 59 cents.   The company reported $347.7 million in revenues, surpassing the Zacks Consensus Estimate of $327 million and 40% higher than the corresponding period last year. While 17% of the growth is attributable to business operations of the company, 23% came from the acquisition of Centaur … [visit site to read more]

WESCO Beats Zacks View Posted: 30 Jul 2010 09:05 AM PDT WESCO International (NYSE:WCC) announced its second-quarter earnings that exceeded the Zacks Consensus Estimate by 2 cents.   Revenue  Revenue for the period was $1.26 billion, up 9.6% sequentially and 8.6% from a year ago. This was better than the 2% -4% sequential increase projected by management.   Favorable product pricing and currency positively impacted year-over-year comparisons by 3% and 1.9%, respectively. Pricing and currency favorably impacted sequential comparisons by … [visit site to read more]

Flushing Money Down The Toilet Posted: 30 Jul 2010 09:02 AM PDT Are government stimulus policies and programs, which merely increase our ever burgeoning national debt, nothing more than throwing good money after bad? To this point at Sense on Cents, I do not believe I have ever addressed the topic of population growth in terms of overall economic growth. Well, I guess we truly do learn something new everyday. Today I learn that our global population growth rates (note: not the actual population) have been steadily declining over the last 40 … [visit site to read more]

Attention, Barrelheads: Petrobras Shares Are On Sale Posted: 30 Jul 2010 08:49 AM PDT Friday, July 30, 2010: Issue #1313 Oil. A touchy subject these days, I know – even with cleanup crews in the Gulf successfully removing much of the spilled oil from the water. But I don't want to talk about U.S. oil in today's article. Instead, we're going to head south to check in on a company that has gained increasing international attention over the past several years, having made some of the world's largest oil discoveries in recent decades. We're heading to Brazil and the … [visit site to read more]

Navigant Matches Zacks Estimate Posted: 30 Jul 2010 08:45 AM PDT Navigant Consulting Inc. (NYSE:NCI) reported its second-quarter 2010 adjusted earnings per share of 17 cents, in line with the Zacks Consensus Estimate. Adjusted earnings per share came in a couple of cents ahead of both last quarter and year-earlier quarter's earnings of 14 cents. Adjusted earnings excluded the office consolidation and severance expense of $4.3 million recorded in the reported quarter. Including the one times, GAAP net income was $7.8 million or 16 cents per share, compared … [visit site to read more]

Thoratec Beats Zacks Estimates Posted: 30 Jul 2010 08:35 AM PDT Thoratec Corp. (NASDAQ:THOR) reported second-quarter adjusted (excluding one-time items) earnings per share of 34 cents, beating the Zacks Consensus Estimate of 28 cents and the year-ago figure of 19 cents.  Revenues  Thoratec reported total revenue of $95.1 million in the second quarter, missing the Zacks Consensus Estimate of $98.0 million while surpassing the year-ago quarter sales of $69.2 million. For the first half of 2010, revenues of $194.4 million represent a year-over-year … [visit site to read more]

Rick Davis Goes Inside The GDP Report Posted: 30 Jul 2010 08:18 AM PDT The equity markets are flat so the 2nd quarter GDP report must have been properly priced into current valuations. Perhaps, but I would neither go that far nor would I be so brazen as to say that the markets are wrong in how they trade. Markets are never wrong. The market is the market. All this said, let's navigate with Rick Davis inside the 2nd quarter report and the prior revisions. July 30, 2010 – Inside the New GDP Numbers: On July 30th the Bureau of Economic Analysis … [visit site to read more]

SXL’s Profit Falls, Revenue Rises Posted: 30 Jul 2010 08:15 AM PDT Sunoco Logistics Partners L.P. (NYSE:SXL) – a master limited partnership (MLP) − announced weaker-than-expected second-quarter 2010 results, hurt by higher interest expense associated with Senior Notes issued in 2010. Earnings were also pulled down by a significant fall in crude oil pipeline operating income.   The partnership reported diluted earnings per unit (EPU) of $1.29, below the Zacks Consensus Estimate of $1.37. In the year-ago period, Sunoco Logistics earned $1.74 per … [visit site to read more]

DryShips Outperforms Posted: 30 Jul 2010 08:05 AM PDT DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services, declared better-than-expected financial results for the second quarter 2010. Both Drybulk and Drilling segments improved their respective top-line and operating margin.   Quarterly net income was $8.7 million or 2 cents per share compared with a net income of $51.5 million or 24 cents per share in the prior-year quarter. However, in the reported quarter, DryShip incurred $71.7 million of one-time special charges. … [visit site to read more]

Wynn Beats On Massive Macau Growth Posted: 30 Jul 2010 08:05 AM PDT Wynn Resorts Ltd. (NASDAQ:WYNN) reported its second-quarter 2010 adjusted earnings of 52 cents per share, well ahead of the Zacks Consensus Estimate of 40 cents and the year-earlier earnings of 9 cents. On a GAAP basis, net income was $52.4 million or 42 cents versus $25.5 million or 21 cents recorded in the comparable quarter last year. The results were boosted by higher-than-expected revenues. Net revenue surged 42.8% year over year to $1032.6 million outpacing the Zacks Consensus Estimate of … [visit site to read more]

Stock Buy: UAL Corp. Posted: 30 Jul 2010 07:45 AM PDT UAL Corp. (NASDAQ:UAUA) just hit a new multi-year high after reporting its first quarterly profit since 2007 that included an 11% earnings surprise. Estimates have since turned higher, providing some nice upward momentum for this Zacks #1 rank stock. Company Description UAL Corp., through its subsidiaries, provides air transportation services worldwide. The company was founded in 1934 and has a market cap of $4 billion. There is no doubt that UAL is on the upswing, fresh off the heels of its first … [visit site to read more]

KLAC Beats, Memory Softens Posted: 30 Jul 2010 07:45 AM PDT KLA-Tencor Corporation's (NASDAQ:KLAC) fourth-quarter earnings beat the Zacks Consensus by 13 cents. Revenue came in more or less as expected, beating by 1.2%.   Revenue   Revenue of $559.4 million was up 17.0% sequentially, 98.7% year over year and on the higher end of the guided range of a 10-19% sequential increase. Management stated that KLAC gained from customer adoption of its efficient systems that help semiconductor manufacturers lower costs and increase efficiencies. … [visit site to read more]

Chevron Profits Shoot Up Posted: 30 Jul 2010 07:45 AM PDT Chevron Corporation (NYSE:CVX) — the second largest U.S. oil company — reported a jump in its second-quarter 2010 profits. As has been the case with the other integrateds that have already reported, such as ExxonMobil (NYSE:XOM), ConocoPhillips (NYSE:COP) and Royal Dutch Shell PLC (RDS.A), results were boosted by higher fuel prices. Robust upstream production growth and buoyant downstream margins also contributed towards Chevron's strong results. Earnings per share (excluding foreign-currency … [visit site to read more]

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