Friday, August 6, 2010

Daily Markets - Stop America From Becoming Just Another Banana Republic

Daily Markets - Stop America From Becoming Just Another Banana Republic

Stop America From Becoming Just Another Banana Republic

Posted: 06 Aug 2010 05:01 PM PDT

The great American tradition of individualism, entrepreneurship and revolution is being systematically undermined by a cadre of financial strongmen bent on turning us into just another “banana republic” - where a subdued and apathetic population is subjugated by a ruling class of wealthy oligarchs.

The gross irony is that the same capitalist system that molded America into the strongest, most productive and richest nation in history, has been transformed into a mostly private … [visit site to read more]

USM’s Loss Widens, Outlook Dips

Posted: 06 Aug 2010 04:05 PM PDT

U.S. Cellular (NYSE:USM), the wireless subsidiary of Telephone and Data Systems (NYSE:TDS), reported its second-quarter 2010 results with earnings per share of 47 cents, far behind the Zacks Consensus Estimate of 68 cents, while also declining from 94 cents a year ago. Net income plummeted 50% year over year to $40.8 million on account of lower revenues and higher operating expenses.

 Revenue, ARPU & Churn

 The Chicago-based cellular operator posted operating revenues of $1,030 … [visit site to read more]

Eclipsys Glides On Higher Sales

Posted: 06 Aug 2010 04:05 PM PDT

Eclipsys Corporation's (NASDAQ:ECLP) second-quarter fiscal 2010 adjusted earnings of 16 cents per share outshone the Zacks Consensus Estimate of 10 cents while matching the year-ago earnings. Adjusted earnings exclude special items such as restructuring charges, merger costs, amortization and adjustments related to the company's acquisition of Premise Corporation in 2008.
 
On a reported basis, Eclipsys earned $1.6 million (or 3 cents per share) in the quarter as against a loss of $4.1 … [visit site to read more]

FTI Consulting Matches Ests

Posted: 06 Aug 2010 04:05 PM PDT

FTI Consulting Inc.'s (NYSE:FCN) second-quarter operating earnings of 52 cents per share were in line with the Zacks Consensus Estimate and below the year-ago performance of 69 cents. Operating net income fell 32.7% year-over-year to $25.1 million.
 
Adjusted EBITDA was $65.5 million or 18.8% of revenues, compared to $84.6 million or 23.5% of revenues in the prior-year quarter.

Results reflected uncertainty about the economic recovery as the financial market remains volatile, … [visit site to read more]

Disappointing NFPs Curbs Growth Expectations And Pulls Crude Lower

Posted: 06 Aug 2010 03:47 PM PDT

North American Commodity Update
Commodities - Energy
Disappointing NFPs Curbs Growth Expectations and Pulls Crude Back Down Towards $80
Crude Oil (LS Nymex) - $80.90 // -$1.11 // -1.35%
Speculative interests fell quickly in step with fundamental expectations Friday with the release of high-level event risk – and the reaction impact was quite severe for oil. Confirming the diminished confidence following the pivotal breakout above $80 to start the week, the US-based crude futures contract … [visit site to read more]

OGE Energy A Penny Ahead

Posted: 06 Aug 2010 03:35 PM PDT

OGE Energy Corporation (NYSE:OGE) reported second quarter EPS of 78 cents, beating the Zacks Consensus Estimate of 77 cents by a penny. The results also beat the year-ago quarterly EPS of 74 cents.

Operational Results

OGE Energy's operating revenues increased 37.7% year-over-year to $887.2 million in the reported quarter, soundly beating the Zacks Consensus Estimate of $680 million for the quarter. Electric Utility revenues increased to $512.8 million compared to $425.3 million in the year-ago … [visit site to read more]

ValueClick Beats Zacks Consensus

Posted: 06 Aug 2010 03:35 PM PDT

ValueClick Inc.'s (NASDAQ:VCLK) second-quarter 2010 results (both earnings and revenue) beat the Zacks Consensus Estimates, demonstrating the company's focus on driving growth. Results were boosted by prudent cost controls.
 
Revenue, adjusted EBITDA and earnings per share exceeded the high end of management's guided range provided last quarter. The company also provided encouraging third quarter 2010 guidance.
 
Operating Performance
 
Second quarter earnings per share from … [visit site to read more]

Luminex Misses, Reaffirms View

Posted: 06 Aug 2010 03:35 PM PDT

Luminex Corporation (NASDAQ:LMNX) reported second-quarter fiscal 2010 after the market closed on August 5, with adjusted (excluding one-time items) earnings per share of 2 cents falling behind the Zacks Consensus Estimate of 5 cents while edging up from the year-ago earnings by a penny. Net income sank 27% year-over-year to roughly $0.9 million on account of higher costs and tax, which offset revenues.
 
Revenues surged 20% year-over-year to $33.2, mostly in line with the Zacks Consensus … [visit site to read more]

Earnings Scorecard: Interpublic

Posted: 06 Aug 2010 03:05 PM PDT

Interpublic Group of Companies Inc. (NYSE:IPG) reported its earnings for the second quarter of its fiscal year 2010 on July 29, 2010, beating the Zacks Consensus Estimate by 5 cents per share. Analysts are bullish given the company's impressive results, as almost every one covering the stock revised estimates upward.

Second Quarter Results

Interpublic reported a net income of $105.3 million for the second quarter of fiscal 2010, significantly up from $20.9 million in the year-ago quarter. … [visit site to read more]

Microchip Tops Expectations

Posted: 06 Aug 2010 03:05 PM PDT

Microchip Technology Incorporated (NASDAQ:MCHP) reported net revenues of $320.8 million, in the first quarter 2011, up 15.4% sequentially and 66.3% year over year and beat the Zacks Consensus Estimate of $319 million.

Growth was seen across the board in the quarter, across all geographies as well as the three product lines – Microcontrollers, Analog and Serial EEPROMs.

Geographically, revenues in the Americas were up 8.6%, Europe was up 2.7% and Asia was up 25.4%. In particular, growth was … [visit site to read more]

Grupo Aeroportuario July Traffic Up

Posted: 06 Aug 2010 03:05 PM PDT

Grupo Aeroportuario del Pacifico SAB de CV (NYSE:PAC) has announced its total passenger traffic for July 2010. Passenger traffic increased 11.3% year over year, with domestic passenger traffic increasing 7.8% and international passenger traffic increasing 19.7%.

During the second quarter of 2010, which ended on June 30, 2010, the company recorded a 14.6% increase in total passenger traffic in comparison to the second quarter of fiscal 2009. Domestic passenger traffic grew 12.2% and International … [visit site to read more]

ENDP EPS Beats, Revs In Line

Posted: 06 Aug 2010 02:35 PM PDT

Endo Pharmaceuticals Holdings Inc. (NASDAQ:ENDP) posted second-quarter earnings of 81 cents per share, a penny above the Zacks Consensus Estimate. The current quarter earnings were 11% above the year-ago figure of 73 cents per share.

Quarterly Details

Quarterly revenues increased 6% year over year to $396.5 million, in line with the Zacks Consensus Estimate. Robust performance across its branded business segment assisted the increase in total revenues.

Revenues from the branded segment went up … [visit site to read more]

Omnicare Lags Estimates

Posted: 06 Aug 2010 02:35 PM PDT

Leading pharmaceutical care provider, Omnicare Inc. (NYSE:OCR) reported second-quarter 2010 adjusted (excluding one-time expenses) earnings per share of 48 cents, lower than the Zacks Consensus Estimate of 62 cents and the year-ago earnings of 64 cents.

Revenues

Revenue was $1519.1 million, down 1.4% year over year, and lower than the Zacks Consensus Estimate of $1,539 million.

Segment-wise

The Pharmacy Services segment generated sales of $1,491.8 million in the second quarter, down 0.5% year … [visit site to read more]

Onyx Reports Wider Loss

Posted: 06 Aug 2010 02:35 PM PDT

Onyx Pharmaceuticals (NASDAQ:ONXX) reported a second quarter fiscal 2010 loss of 5 cents per share, worse than a profit of 16 cents reported in the year-ago period and the Zacks Consensus Estimate of a loss of 3 cents. However, after adjusting for non-recurring items and treating stock-based compensation as a regular expense, the company reported earnings per share of 5 cents, lower than the year-ago earnings of 27 cents.

Revenues came in at $68.8 million, up 14.2% but in-line with the Zacks … [visit site to read more]

WPP Acquires Geoff Howe

Posted: 06 Aug 2010 02:35 PM PDT

Ireland-based advertising titan WPP Group Plc. (NASDAQ:WPPGY), through its global healthcare communications unit, ghg, acquired a 100% stake in Geoff Howe Holdings Inc. The acquired company owns a 100% stake in a US-based agency engaged in marketing of animal health, diet and nutrition products, Geoff Howe Marketing Communications Inc.

Geoff Howe is a US-based company having offices in London and Prague and a client base including Bayer Healthcare, Boehringer Ingelheim, Colgate-Palmolive (NYSE:CL) … [visit site to read more]

Smith & Nephew Beats By A Penny

Posted: 06 Aug 2010 02:05 PM PDT

Smith & Nephew (NYSE:SNN) reported EPADS (earning per American Depositary Share) of 86 cents in the second quarter of 2010, beating the Zacks Consensus Estimate by a penny and the year-ago quarter's 77 cents.

Smith & Nephew reported a 4% year over year increase in revenue to $959 million from $926 million in the year-ago quarter, with growth witnessed across all the three segments: Endoscopy, Advanced Wound Management and Orthopaedics. However, revenues missed the Zacks Consensus … [visit site to read more]

Gerdau Q2 Profit Soars

Posted: 06 Aug 2010 02:05 PM PDT

Brazilian steel producer, Gerdau S.A.'s (NYSE:GGB) second-quarter 2010 earnings surged to R$856.0 million (US$475.6 million) from R$467.0 million (US$223.4 million) in the second quarter of 2009. Earnings per share came in at R$0.52 (US$0.29 per ADR) versus R$0.27 (US$0.13 per ADR) in the comparable quarter a year-ago. Gerdau's quarterly result also surpassed the Zacks Consensus Estimate of US$0.25 per ADR.

The net income growth was driven by higher revenues and lower cost of sales and … [visit site to read more]

Harman Profits But Misses

Posted: 06 Aug 2010 02:05 PM PDT

A developer of audio products and electronic systems, Harman International Industries Inc. (NYSE:HAR) announced fourth quarter 2010 results. Earnings on a non-GAAP basis were a profit of 30 cents, significantly up from the loss of 43 cents record a year-earlier. However, earnings were two cents below the Zacks Consensus Estimate of 32 cents per share.

For fiscal 2010, earnings increased to 85 cents as compared with a loss of $1.23 cents in fiscal 2009.

Results improved for both the fourth … [visit site to read more]

Hercules Comes Up Short

Posted: 06 Aug 2010 02:05 PM PDT

Hercules Technology Growth Capital Inc.'s (NASDAQ:HTGC) second quarter 2010 change in net assets was negative 14 cents per share significantly missing the Zacks Consensus Estimate of positive 19 cents. However, this compares favorably with the change in net assets of negative 38 cents in the prior-year quarter.

Results for the reported quarter benefited primarily from a year-over-year decline in operating expenses and a net realized gain in investment income compared with a loss in the … [visit site to read more]

Warnaco Beats, Raises Guidance

Posted: 06 Aug 2010 01:35 PM PDT

Warnaco Group Inc. (NYSE:WRC) registered second-quarter 2010 earnings of 71 cents a share, exceeding the Zacks Consensus Estimate of 69 cents by 2.9% and the year-ago earnings of 47 cents by 51.1%.

On a reported basis, including one-time items, earnings for the quarter jumped 62.5% to 65 cents per share compared with 40 cents in the year-ago quarter.

Revenue and Margins

Net sales recorded a growth of 14% to $519.3 million from $455.4 million in the year-ago quarter, and surpassed the Zacks … [visit site to read more]

Plains EPS Meets Expectations

Posted: 06 Aug 2010 01:35 PM PDT

Plains Exploration & Production Co. (NYSE:PXP) posted second-quarter earnings of 26 cents per share, in line with the Zacks Consensus Estimate, but below the year-ago profit of 60 cents.

Operating Results
Net revenues of $364.6 million dipped 2.5% (negative surprise) from the Zacks Consensus Estimate of $374 million. However, it grew 31% from $278.7 million a year-ago, driven primarily by higher commodity prices and higher sales volumes. Strong drilling results in the Granite Wash, … [visit site to read more]

Alliant Beats, Raises Guidance

Posted: 06 Aug 2010 01:35 PM PDT

Aerospace and defense company Alliant Techsystems Inc. (NYSE:ATK) announced operating earnings of $2.24 per share for its first-quarter fiscal 2011 ended July 4, 2010, which surpassed the Zacks Consensus Estimate of $1.96. The results also exceeded $2.09 per share reported in the year-ago quarter.

Total Revenue

Total revenue of Alliant during the quarter decreased 0.6% to $1,202.1 million from $1,209.1 million in the year-ago quarter. The reported revenue, however, met the Zacks Consensus … [visit site to read more]

Perkin Elmer Beats The Street

Posted: 06 Aug 2010 01:35 PM PDT

Perkin Elmer (NYSE:PKI) reported second-quarter 2010 adjusted (excluding one-time expenses) earnings per share of 38 cents, beating the Zacks Consensus Estimate of 33 cents and the year-ago earnings of 28 cents. The quarterly results also surpassed the company's guidance of 32 to 34 cents.

Revenues

Revenue came in at $497.8 million in the reported quarter, up 14% (up 14% on an organic basis) year over year and higher than the Zacks Consensus Estimate of $466 million.

Segment-wise

Sales from … [visit site to read more]
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