Friday, August 6, 2010

Daily Markets - NTT Posts Higher Net Earnings

Daily Markets

Daily Markets - NTT Posts Higher Net Earnings

NTT Posts Higher Net Earnings

Posted: 06 Aug 2010 01:05 PM PDT

Nippon Telegraph & Telephone Corp. (NYSE:NTT) declared first quarter fiscal 2011 (ended June 30, 2010) financial results that were mostly in line with the company's revised guidance. On a GAAP basis, net income in the reported quarter was approximately $1,693.5 million, up 11.7% year over year. Quarterly ADS was around 69 cents, up 11.7% year over year.
 
Quarterly total revenue of $27,138 million decreased 0.16% year over year. Improvement in IP/packet communications business was more … [visit site to read more]

Employment Report In-Depth

Posted: 06 Aug 2010 01:05 PM PDT

In July, the unemployment rate remained unchanged at 9.5% even though the economy lost a total of 131,000 jobs. The unemployment rate a year ago was at 9.4%. However, the private sector added 71,000 jobs. The big reason for the overall loss of jobs was that 143,000 temporary census workers completed their work and were laid off.

Last month, a total of 221,000 jobs were lost, with the private sector gaining only 31,000 and 225,000 census workers being laid off. The private sector job gains for … [visit site to read more]

Earnings Scorecard: Plum Creek

Posted: 06 Aug 2010 01:05 PM PDT

Plum Creek Timber Co. Inc. (NYSE:PCL), a real estate investment trust (REIT) that owns one of the largest private timberlands in the U.S., reported fiscal 2010 second quarter earnings of 21 cents per share, which exceeded the Zacks Consensus Estimate by 6 cents.
 
We cover below the results of the recent earnings announcement, subsequent analyst estimate revisions and the Zacks ratings for the short-term and long-term outlook for the stock.
 
Earnings Report Review
 
During second … [visit site to read more]

Patterson-UTI Rig Count Up By 9

Posted: 06 Aug 2010 12:35 PM PDT

Patterson-UTI Energy Inc. (NASDAQ:PTEN), one of the largest onshore contract drillers in the U.S. , has declared its July 2010 drill rig count to average at 172, up from 163 in the previous month. The company operated 165 rigs in the U.S. and 7 in Canada in July, compared with 160 rigs in the U.S. and 3 rigs in Canada during June.
 
Patterson-UTI's activity levels in the U.S. peaked in early October 2008 with a rig count of 275. Since then, till the second quarter of 2009, the company … [visit site to read more]

Pitney Bowes Downgraded

Posted: 06 Aug 2010 12:35 PM PDT

International credit rating agency Standard & Poors has downgraded Pitney Bowes Inc's (NYSE:PBI) long-term rating for bonds issued by the company to "BBB+" from "A" with a stable outlook. The BBB+ rating is the lowest investment grade rating possible. The credit rating agency also reduced the rating on the short-term debt securities issued by the company from "A-1" to "A-2".

Moody’s Investors Service, the second largest credit rating agency in the world, has also initiated … [visit site to read more]

BofA Shines On Low-Income Lending

Posted: 06 Aug 2010 12:05 PM PDT

Bank of America Corp. (NYSE:BAC) said on Thursday that it has gained an "outstanding" rating from the Office of Comptroller of the Currency for fulfilling or going beyond the requirements of affordable housing, small business lending and many other areas of underserved communities. The latest rating marks BofA's seventh consecutive achievement of outstanding rating.
 
The current rating follows the Office of Comptroller of the Currency's most recent exam under the 1977 Community … [visit site to read more]

Activision Marginally Beats

Posted: 06 Aug 2010 12:05 PM PDT

A leading publisher of online, personal computers, console, handheld and mobile games, Activision Blizzard Inc. (NASDAQ:ATVI) reported second-quarter earnings of 5 cents per share, which beat the Zacks Consensus Estimate by 2 cents but was down a penny per share year over year.

The decline can primarily be credited to declining revenue growth and contraction in operating margins. Fewer releases and continued weakness at retail led to the quarter's weak results. Earnings include stock-based … [visit site to read more]

WNR Misses Big, To Idle Refinery

Posted: 06 Aug 2010 12:05 PM PDT

Oil refiner and marketer Western Refining Inc. (NYSE:WNR) reported weaker-than-expected second quarter results, dragged down by poor East Coast Refining margins. Its earnings per share came in at 16 cents, considerably lower than the Zacks Consensus Estimate of 25 cents.
 
However, the Texas-based company improved from the second quarter 2009 loss of 39 cents per share (excluding special items) on the back of improved overall refining margins and continued gains stemming from cost saving … [visit site to read more]

Auxilium Misses Expectations

Posted: 06 Aug 2010 12:05 PM PDT

Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) reported a second quarter loss of 28 cents per share, 3 cents wider than the Zacks Consensus Estimate but lower than the year-ago loss of 32 cents. Net revenues increased 28.8% to $50.5 million in the second quarter, slightly above the Zacks Consensus Estimate of $50 million.

Quarter in Detail

During the reported quarter, Testim sales in the US grew 25.9% to $46.6 million, with prescriptions growing 11.8% from the year-ago period. According to IMS … [visit site to read more]

Progress Energy Beats, Ups Guidance

Posted: 06 Aug 2010 12:05 PM PDT

Power utility company Progress Energy Inc. (NYSE:PGN) announced its second-quarter 2010 operating earnings of 63 cents per share, which beat the Zacks Consensus Estimate by a penny. The results of the company were lower than the year-ago earnings of 64 cents per share.

The contribution to operating earnings from Progress Energy Carolinas was 39 cents per share, while Progress Energy Florida contributed 41 cents. Ongoing after-tax expenses from Corporate and Other Business were 17 cents a share in … [visit site to read more]

American Public Education Beats

Posted: 06 Aug 2010 11:35 AM PDT

American Public Education Inc. (NASDAQ:APEI), an online provider of higher education to the military and public service communities, recently delivered second-quarter 2010 results that topped the Zacks Consensus Estimate. The quarterly earnings of 37 cents a share surpassed the Zacks Consensus Estimate of 33 cents, and soared 32% from 28 cents posted in the prior-year quarter.
 
Net income for the quarter came in at $7 million, up 32% from the prior-year quarter. However, the stock dipped … [visit site to read more]

Cadbury Acquisition Sweetens Kraft

Posted: 06 Aug 2010 11:35 AM PDT

Kraft Foods Inc. (NYSE:KFT) delivered second quarter results with earnings (excluding one-time items) of 60 cents per share, exceeding the Zacks Consensus Estimate of 52 cents by 15.4% and year-ago earnings of 53 cents by 13.2%.

However, on a reported basis, earnings for the quarter plunged 5.4% to 53 cents per share compared with 56 cents per share in the year-ago quarter.

Revenue and Operating Income

Quarterly net revenue spiked 25.3% to $12.3 billion, boosted 22.8% by the Cadbury … [visit site to read more]

The Land Of The Rising Dividend Yield

Posted: 06 Aug 2010 11:15 AM PDT

Japan can honestly claim some of the most unloved stocks in the world.
After getting burned one too many times, international money managers won't touch it anymore. And individual investors don't trust it either, in large part because of its failure to regain more than half of its 1989 peak.
Yet somehow, foreign ownership in Japanese stocks has edged higher recently.
That could be a case of fools putting their hand on a hot stove again. But it also could indicate that Japan's days as a … [visit site to read more]

CEC Misses Zacks Estimates

Posted: 06 Aug 2010 11:05 AM PDT

Texas based CEC Entertainment Inc. (NYSE:CEC), which operates and franchises family dining and entertainment centers, reported second-quarter 2010 adjusted earnings of 35 cents per share, which came in well below the Zacks Consensus Estimate of 45 cents and the prior-year quarter's earnings of 39 cents. Including an unfavorable one-time impact of tax adjustment, the company earned 22 cents in the quarter under review.
 
Total revenue dropped 2.1% year over year to $181 million and lagged … [visit site to read more]

Emerson Wins Contract

Posted: 06 Aug 2010 11:05 AM PDT

Emerson Electric Company (NYSE:EMR) has won a $28 million contract for supplying automation control systems for 100 turbine generators in nine hydroelectric power plants in Ukraine.
The program envisages up-gradation and modernization of a series of nine plants that were built between 1939 and 1975. With a total generation of 4639 megawatts, the nine plants currently supply over 90% of Ukraine's hydroelectric power.

Emerson has been picked as the project's main automation contractor of SCADA … [visit site to read more]

Excel Maritime Posts Mixed Q2

Posted: 06 Aug 2010 11:05 AM PDT

Excel Maritime Carriers Ltd. (NYSE:EXM), a global dry bulk carrier, declared second-quarter 2010 financial results. Quarterly adjusted (excluding one-time special gains) EPS was just 4 cents per share compared with the Zacks Consensus Estimate of 16 cents per share. This was primarily due to escalating operating expenses.
 
GAAP net income in the second quarter 2010 was $78.9 million or 95 cents per share compared with a net income of $78 million or $1.05 per share.
 
Quarterly total … [visit site to read more]

EOG Slips, Getting Oily

Posted: 06 Aug 2010 10:35 AM PDT

EOG Resources Inc. (NYSE:EOG), a major independent oil and gas exploration and production company, reported weaker-than-expected second-quarter results. Quarterly earnings were 18 cents per share, much below both the Zacks Consensus Estimate of 25 cents and the year-ago profit of 73 cents.
 
Despite an increase in production volumes and higher commodity prices, earnings missed mainly due to higher operating expenses. While EOG's results came in below our expectations, the company … [visit site to read more]

Depomed Fundamentals Look Strong

Posted: 06 Aug 2010 10:35 AM PDT

Q2 Financial Review

On August 5, 2010, Depomed (NASDAQ:DEPO) reported financial results for the second quarter ended June 30, 2010. Total revenues for the second quarter were $24.4 million, an increase of 110% over the second quarter in 2009 and $0.9 million higher than our forecast of $23.5 million.

Revenues consisted of $11.7 million in product sales, of which $11.6 million was Glumetza. Depomed also recorded total royalty revenues of $0.1 million and total licensing and milestone revenues of … [visit site to read more]

Brightpoint Revenue Misses In Q2

Posted: 06 Aug 2010 10:35 AM PDT

Brightpoint Inc. (NASDAQ:CELL) declared mixed financial results for the second quarter of 2010. We remain concerned regarding the company's top-line fluctuations. Quarterly total revenue was $788.6 million, an improvement of 11% year over year but a decrease of 11% sequentially. This was also significantly below the Zacks Consensus Estimate of $832 million.
 
Brightpoint cited this poor performance was the result of lower sales of wireless devices in its Singapore operation although EMEA … [visit site to read more]

What Happens When Investors Lack Trust?

Posted: 06 Aug 2010 10:05 AM PDT

Think the structure of the equity markets is broken? With the preponderance of equity volume now dominated by high frequency trading and true retail investors fleeing in droves, what do people think the chances are that we could experience another Flash Crash as we saw on May 6th?
Last evening, The Wall Street Journal ran an online poll on this topic in Legacy of the 'Flash Crash.' I have to admit, I was surprised by the results. Did you get concerned witnessing the 1000 point … [visit site to read more]

Washington Post Earnings Surge

Posted: 06 Aug 2010 10:05 AM PDT

The Washington Post Company (NYSE:WPO) recently posted second-quarter 2010 results. The quarterly earnings of $11.69 per share showed a substantial increase from $6.67 delivered in the prior-year quarter on the heels of strong performance in the Education and Television Broadcasting divisions, despite registering operating losses from Newspaper division.

On a reported basis, including one-time items, quarterly earnings came in at $10.00 per share, reflecting a sharp rise from $1.30 posted in the … [visit site to read more]

Canadian Progress Surpasses

Posted: 06 Aug 2010 10:05 AM PDT

Independent oil explorer Canadian Natural Resources Ltd. (NYSE:CNQ) reported better-than-expected second quarter 2010 results, buoyed by increased production, lower per unit operating costs, lower development capital costs and significant free cash flow. Earnings per share, excluding one-time and non-cash items, came in at 63 Canadian cents (62 cents), surpassing the Zacks Consensus Estimate of 55 cents and prior-year quarter's 59 Canadian cents.
Including special items, the company's … [visit site to read more]

Lackluster 3Q For Hewitt

Posted: 06 Aug 2010 10:05 AM PDT

Hewitt Associates Inc. (NYSE:HEW) reported third-quarter 2010 adjusted earnings per share of 60 cents, which missed the Zacks Consensus Estimate of 74 cents. Adjusted earnings per share were 81 cents per share in the third quarter of fiscal 2009.
 
Revenues 
Net revenue (excluding reimbursements) in the third quarter was $730.6 million, almost flat, compared to $729.0 million in the year-ago quarter. However, after adjusting for foreign currency translation, acquisitions and … [visit site to read more]

Foster Wheeler Slips

Posted: 06 Aug 2010 09:35 AM PDT

Foster Wheeler AG (NASDAQ:FWLT) reported second-quarter earnings from continuing operations of 46 cents, below the Zacks Consensus Estimate of 51 cents. The second quarter earnings declined sharply from prior-year quarter's earnings from continuing operations of 96 cents.
 
Earnings in the reported quarter and prior-year quarter included asbestos-related provision of 2 cents each, excluding which earnings per share was 48 cents compared with 98 cents.
 
Consolidated revenue was $1,005.5 … [visit site to read more]

Southwestern Tops On Higher Volumes

Posted: 06 Aug 2010 09:35 AM PDT

Southwestern Energy Co. (SWN) reported its second-quarter 2010 earnings of 35 cents per share, beating the Zacks Consensus Estimate by a penny. The increased results were driven by higher-than-expected production in the quarter. However, the second-quarter results remained flat on a year-earlier comparison.
 
Revenues rose nearly 24% year over year to $589.9 million, but were below the Zacks Consensus Estimate of $625 million.
 
Operational Performance
 
The company's gas and … [visit site to read more]

Stock Bears In Control Despite Strong Second Quarter Earnings?

Posted: 06 Aug 2010 09:26 AM PDT

The second-quarter earnings season has gotten off to a strong start, but it’s been no match for bears who are less than thrilled with future earnings prospects.

More than half of the companies on the Standard & Poor’s 500 Index have reported second-quarter earnings results. And so far, they’ve been strong, with two-thirds of those companies beating earnings estimates, three-fifths beating on sales and almost half beating on both earnings and sales.

As a result, the consensus … [visit site to read more]

Molina Outshines Estimates

Posted: 06 Aug 2010 09:05 AM PDT

Molina Healthcare Inc. (NYSE:MOH) reported its second quarter income from continuing operations of $10.6 million or 41 cents per share, surpassing the Zacks Consensus Estimate of 31 cents. The better-than-expected results in the quarter were driven by higher operating revenues coupled with lower medical care costs on a per-member per-month (PMPM) basis due to a mild flu season.
 
However, Molina's reported results were much lower than the income of $14.6 million or earnings of 56 cents in … [visit site to read more]

Cincinnati Bell Beats By A Penny

Posted: 06 Aug 2010 09:05 AM PDT

Cincinnati Bell (NYSE:CBB) announced second-quarter adjusted earnings per share (EPS) of 11 cents, which surpassed the Zacks Consensus Estimate by a penny. Earnings were flat year over year.
 
Cincinnati Bell completed the acquisition of data center operator CyrusOne for $525 million during the quarter.
 
Revenues upped 3% year over year to $338.6 million as a result of the increase in Telecom and IT equipment revenues, offset by declines across wireline and wireless segments. Adjusted … [visit site to read more]

Beacon Fails Expectations

Posted: 06 Aug 2010 08:35 AM PDT

Beacon Roofing Supply Inc. (NASDAQ:BECN) delivered earnings per share (EPS) of 35 cents in its second quarter ended June 30, 2010, falling short of the Zacks Consensus Estimate of 46 cents and 38 cents reported in the year-ago quarter. The results were hurt by lower sales of residential roofing products and narrower gross margins that were under pressure from weak market conditions.
 
Total revenues increased 2.3% year over year to $474.3 million, but failed to meet the Zacks Consensus Estimate … [visit site to read more]

Public Storage Tops Estimates

Posted: 06 Aug 2010 08:35 AM PDT

Public Storage (NYSE:PSA), a real estate investment trust (REIT) operating self-storage facilities, reported second quarter 2010 FFO (funds from operations) of $0.92 per share, compared with $1.40 in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. 

The decrease in year-over-year FFO was primarily due to several non-recurring items, … [visit site to read more]

Retailers’ July Sales Sluggish

Posted: 06 Aug 2010 08:35 AM PDT

Retailers are off to a slow start in the second half of the year as July same-store sales came in below expectations. July is usually a mild sales month as retailers rely heavily on promotions to clear out their summer stocks and spring merchandise as they head into the back-to-school season at the end of the month.

Another factor which affected retailers during the month is high unemployment rate. The high unemployment rate hampered the spending pattern of consumers. Until the employment … [visit site to read more]

Traders May Wish To Read Beyond The Headlines

Posted: 06 Aug 2010 08:17 AM PDT

Fundamentals
The first Friday of each month is usually eagerly awaited by traders hoping to successfully trade the release of the non-farm payrolls report. Volatile trading conditions can erupt as soon as the headline payrolls figures are released, even before analysts can dig into the components that make up the report. This morning’s release of the July employment picture may be one of those times where traders may be better off delving into the details. Analysts are expecting a decline of … [visit site to read more]

Forex Trading: EURUSD Corrects To Support As London/Europe Exit For The Weekend

Posted: 06 Aug 2010 08:16 AM PDT

A 71% Gain In 18 Months… The Hidden Value In Airgas Shares

Posted: 06 Aug 2010 08:15 AM PDT

Friday, August 6, 2010: Issue #1318
It was Halloween 2008 when I penned an Investment U article entitled: "This Company's on Fire."
The company I referred to was Airgas, Inc. (NYSE:ARG). And far from being a nightmare of a stock pick, it's blasted 71% higher since then.
Airgas is the largest distributor of packaged medical, industrial and specialty gases in the United States. It's also the largest producer of CO2 (both liquid and gas), dry ice (frozen CO2) and nitrous oxide (more … [visit site to read more]

California Pizza Matches Ests

Posted: 06 Aug 2010 08:05 AM PDT

California Pizza Kitchen, Inc. (NASDAQ:CPKI), one of the leading casual dining restaurant chains, recently posted second-quarter 2010 earnings of 17 cents per share, consistent with the Zacks Consensus Estimate, but dropped 32.0% from 25 cents in the prior-year quarter.

The pizza restaurant chain said that total revenues for the second quarter dropped 4.6% year over year to $163.1 million, but outperformed the Zacks Consensus Estimate of $162.0 million. Comparable-store sales fell 5.9% in the … [visit site to read more]

The Downfall Of Research In Motion’s CrackBerry

Posted: 06 Aug 2010 07:44 AM PDT

When Canadian manufacturer Research in Motion (NASDAQ:RIMM) launched the BlackBerry in 2002, it did very well, (commonly referred to as the "CrackBerry," given its addictive nature).
The smartphone's built-in security features – including encrypted email – were huge selling points. In fact, RIMM's top-level system is so secure that Britain allows its intelligence community to use the BlackBerry to send and receive certain urgent information.
So you can bet that 007 carries one, as well … [visit site to read more]

Forex Trading: USDCAD Rotates Back Higher As Choppy Up And Down Trading Prevails

Posted: 06 Aug 2010 07:42 AM PDT

 
As mentioned in the previous video (CLICK HERE) post the USDCAD has been fighting the weak US employment data, and the weak Canadian employment data today.  The market moved above the 100 hour MA at the 1.0201 level, moved toward the 200 hour MA at the 1.0266 level but found sellers against this level.  The rotation back down stopped again at support and the subsequent move is back up at the 200 hour MA.
This action is the market saying "I don't know which way to … [visit site to read more]

We’re Even Deeper In The Hole

Posted: 06 Aug 2010 07:41 AM PDT

The economy is still in a deep hole, and we're not climbing out.
Remember, we need 125,000 new jobs per month simply to keep up with the growth of the American population seeking jobs. But according to this morning's job's report, private-sector employers added just 71,000 jobs in July. (According to the Bureau of Labor Statistics' revised report for June, private employers added only 31,000 jobs in June.)
In other words, the hole keeps getting deeper.
(Government Census workers who had … [visit site to read more]

Forex Trading: EURUSD Steps Higher And Higher. 1.3361 Next Target With Support Against 1.3282

Posted: 06 Aug 2010 07:25 AM PDT
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