Thursday, October 21, 2010

DailyMarkets.com - Chubb Beats Estimates

DailyMarkets.com - Chubb Beats Estimates

Chubb Beats Estimates

Posted: 21 Oct 2010 04:35 PM PDT

With reported earnings per share of $1.80 for the third quarter 2010, The Chubb Corporation (CB) is way ahead of the Zacks Consensus estimates of $1.40 per share. Not only did Chubb  beat the estimates but also reported a strong quarter with 27.7% sequential and 6.5% year-over-year EPS increase.
 
In face of the challenging economic conditions Chubb has pulled off a strong profitability and book value growth. For the strong quarter, management cites its focus on bottom line and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FLIR Beats Earnings Estimate

Posted: 21 Oct 2010 04:05 PM PDT

FLIR Systems Inc. (NASDAQ:FLIR) released its second quarter fiscal 2011 earnings results before the market opened today, reporting earnings from continuing operations of 39 cents, beating the Zacks Consensus Estimate of 38 cents. The company continues to deliver a strong operating performance.
Revenue
Total revenue in the quarter increased by 16% year over year to $332.5 million, below the Zacks Consensus Estimate of $348 million.
The company's revenue increased in all the segments, except for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Monsanto Discards Mini-Offer

Posted: 21 Oct 2010 04:05 PM PDT

Monsanto Company (NYSE:MON) rejected the mini buy-out offer of TRC Capital Corporation, a private firm founded by a Canadian securities lawyer, to acquire 2 million shares at $54.15 per share.
The offer was discarded as the price was below the trading price on that day. Monsanto has been posting weak numbers since the beginning of fiscal 2010. During fiscal 2010 ending August 2010, EPS (excluding restructuring expense) almost halved to $2.41 from $4.41 last year.
However, we remain optimistic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PMC-Sierra Beats Modestly

Posted: 21 Oct 2010 04:05 PM PDT

Internet infrastructure semiconductor solution provider PMC-Sierra Inc. (NASDAQ:PMCS) reported third quarter 2010 earnings of 18 cents per share (Non-GAAP figures provided by the company), which beat the Zacks Consensus Estimate of 16 cents per share. The company had earned 15 cents per share in the year ago quarter.
The company’s non-GAAP earnings exclude the imapct of a number of items. On a GAAP basis, they earned 6 cents per share, down from 12 cents a share in the year-earlier … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Westamerica Reports In Line

Posted: 21 Oct 2010 03:35 PM PDT

On Tuesday, Westamerica Bancorp. (NASDAQ:WABC) reported third quarter 2010 earnings per share of 81 cents, in line with the Zacks Consensus Estimate and prior-year quarter earnings. However, earnings were a penny higher than the 80 cents reported in the prior quarter.
The results benefited from improvement in net interest income and a decline in non-interest expenses, which was offset by decrease in non-interest income and a deteriorating credit quality. The third quarter results also included net … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: First Solar Inc.

Posted: 21 Oct 2010 03:35 PM PDT

First Solar Inc. (FSLR) is slated to release its third quarter 2010 results on Thursday, October 28, 2010. The current Zacks Consensus Estimate for the third quarter is $1.92 per share, representing an annualized growth of 7.3%.
Previous Quarter Performance
First Solar posted second-quarter 2010 earnings of $1.84 surpassing the Zacks Consensus earnings per share (EPS) estimate of $1.60 by 24 cents. It however, fell short of the year-ago quarterly EPS of $2.11.
First Solar's quarterly revenues … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Another Strong Quarter For Sigma

Posted: 21 Oct 2010 03:05 PM PDT

Sigma-Aldrich Corp. (NASDAQ:SIAL) delivered third quarter earnings of 83 cents, which surpassed both the Zacks Consensus Estimate of 73 cents and prior-year earnings per share (EPS) of 80 cents.
The company incurred restructuring and impairment costs of 7 cents in the reported quarter leading to reported EPS of 76 cents compared with reported EPS of 70 cents in the year ago quarter which included a 10 cents adverse impact from currency exchange rates.
Revenues rose 5% year over year to $563 million … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Terex Reports A Loss, Falls Short

Posted: 21 Oct 2010 03:05 PM PDT

Terex Corp. (NYSE:TEX) reported another disappointing quarter with a loss per share of 82 cents in its third quarter ended September 30, 2010. However, the loss was narrower than the loss per share of 98 cents in the year-ago period.
The third-quarter loss was, however, wider than the Zacks Consensus Estimate of a loss per share of 15 cents. Solid results from its Aerial Work Platforms and Materials Processing segments were offset by a loss at the Construction segment and continued weakness in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PPG Improves, Beats Estimate

Posted: 21 Oct 2010 03:05 PM PDT

PPG Industries (NYSE:PPG) reported net income (GAAP) of $262 million or $1.58 per share in the third quarter of 2010 compared with $159 million or 96 cents per share in the year-ago quarter. However, adjusted net income was $264 million or $1.59 per share versus $161 million or 97 cents per share during the third quarter of 2009.
The adjustments included after-tax charges of $2 million or 1 cent per share associated with the company's pending court proceedings related to the proposed Asbestos … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Good Year For Lindsay

Posted: 21 Oct 2010 03:05 PM PDT

Lindsay Corporation (NYSE:LNN) delivered an EPS of 48 cents in its fourth quarter, ended August 31, 2010, up a whopping 182% from 17 cents in the year-ago quarter and handily beating the Zacks Consensus Estimate of 28 cents. Factors such as improved domestic irrigation sales and robust demand of higher margin Quick-Change Moveable Barrier ("QMB") products fueled the increase.
Total revenues in the quarter were $87.2 million, up 19% year over year and above the Zacks Consensus Estimate of $85 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: Earnings Reports

Posted: 21 Oct 2010 03:00 PM PDT

10/22/10 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NY Fed Model: 1-in-50 Chance Of 2011 Double-Dip

Posted: 21 Oct 2010 02:48 PM PDT

The New York Federal Reserve updated its “Probability of U.S. Recession Predicted by Treasury Spread” with treasury yield data through September 2010, and the Fed’s recession probability forecast through September 2011. The NY Fed’s Treasury model uses the spread between the yields on 10-year Treasury notes (2.65% in September) and 3-month Treasury bills (0.15%) to calculate the probability of a U.S. recession up to twelve months ahead (see details here) using the spread between those two … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Janus Capital Beats Estimates

Posted: 21 Oct 2010 02:35 PM PDT

Janus Capital Group Inc.'s (NYSE:JNS) third quarter earnings per share came in at 18 cents, outpacing the Zacks Consensus Estimate of 16 cents primarily due to lower operating expenses. This also came in significantly higher than the 5 cents reported in the year-ago quarter and above 17 cents reported in the prior quarter. Net income was $32.5 million as compared with $30.2 million in the prior quarter and $8.2 million in the year-ago quarter.
Amid a tough environment, Janus Capital progressed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Patriot Beats Market Pessimism

Posted: 21 Oct 2010 02:35 PM PDT

Coal producer Patriot Coal Corporation's (NYSE:PCX) third quarter loss came in at 51 cents per share, better than the Zacks Consensus Estimate of a loss of 56 cents. The company reported earnings of 58 cents in the year-ago quarter.
Operating Highlights
Revenues dropped slightly compared to last year, to $500.7 million, due to lower sales volume partially offset by higher average selling prices. Total revenue was also below the Zacks Consensus Estimate of $513 million. Around $434 million came … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Huntington Tops Zacks Estimates

Posted: 21 Oct 2010 02:35 PM PDT

Huntington Bancshares Incorporated (NASDAQ:HBAN) reported a third quarter 2010 profit of $100.9 million or 10 cents per share, ahead of the Zacks Consensus Estimate of 6 cents. This also compares favorably with earnings of $48.8 million or 3 cents a share in the prior quarter and a net loss of $166.2 million or 33 cents in the year-ago quarter.
The better-than-expected results were primarily driven by a significant reduction in loan loss provisions and better-than-expected growth in revenue. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Amazon Beats, Traders Sell The News

Posted: 21 Oct 2010 02:35 PM PDT

Well, everything seemed to look rosy for Amazon.com (NASDAQ:AMZN) leading up to its 3rd quarter earnings report after the bell today.

Revenues in the quarter reached $7.56 billion, up 39% year over year, on EPS of 51 cents per share. This beat the Zacks Consensus Estimates of $7.352 billion and 48 cents per share, respectively. It also followed a strong Thursday of trading, where AMZN share rose nearly 4% to flirt with its all-time-high trading price of around $165 per share.

But all that came to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Silgan Misses EPS, Beats Sales

Posted: 21 Oct 2010 02:35 PM PDT

Silgan Holdings Inc. (NASDAQ:SLGN) delivered adjusted earnings per share (EPS) of 89 cents in the third quarter ended September 30, 2010, missing the Zacks Consensus Estimate of 91 cents and decreasing 7% from 96 cents in the prior-year quarter. The decline was mainly due to the decrease in sales aggravated by increased interest and other debt expenses.
The reported EPS in the quarter includes rationalization charges of 1 cent per share and 4 cents for the loss on early extinguishment of debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Strong 3Q Earnings For AMZN, AXP, SNDK

Posted: 21 Oct 2010 02:15 PM PDT

10/21/10 Following Thursday’s closing bell, strong 3Q earnings reports were released for Amazon, American Express, and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

V.F. Corporation Beats Estimate

Posted: 21 Oct 2010 02:05 PM PDT

V.F. Corporation (NYSE:VFC) reported earnings per share of $2.22 per share in the third quarter of 2010, which outpaced the Zacks Consensus Estimate of $2.11 by 11 cents. Results also surpassed the prior-year quarter's earnings of $1.94. The strong results came from robust sales across all brands.
Revenue Discussion
V.F. Corp.'s 7.0% increase in sales to $2,232.4 million compared with $2,093.8 million in the prior-year quarter was aided by strong performance in almost all its businesses. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stable Results From Entergy

Posted: 21 Oct 2010 01:35 PM PDT

Entergy Corporation (NYSE:ETR) has reported strong operational earnings per share (EPS) of $2.76 in the third quarter of fiscal 2010, beating both the Zacks Consensus Estimate of $2.73 and the year-ago quarterly EPS of $2.40. On a reported basis, including one-time items, earnings came in at $2.62 for the reported quarter compared to $2.32 in the year-ago quarter.
The variance between as-reported and operational in both the reported and year-ago quarters was due to non-utility nuclear spin-off … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Visa Hikes Dividend By 20%

Posted: 21 Oct 2010 01:35 PM PDT

Yesterday, the leading card payment processing company, Visa Inc. (NYSE:V), announced that it has increased its quarterly dividend by a substantial magnitude of 20%, thereby increasing it to 15 cents from 12.5 cents. The newly raised dividend will be paid on December 7, 2010, to the company's Class A, Class B and Class C common shareholders on record as on November 19, 2010.
This is the second consecutive dividend increment, raising its annual dividend to 60 cents from 50 cents. In 2009, Visa … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Acorn Energy Lowers Guidance

Posted: 21 Oct 2010 01:35 PM PDT

Acorn Energy (NASDAQ:ACFN) issued preliminary third quarter revenues and reduced full-year 2010 revenue guidance from a minimum of $48 million to a range of $40 to $44 million. Four out of five Acorn's companies demonstrated stronger than expected revenues.

CoaLogix reported revenues of $5.5 million (above our expectations of $5.2 million) due to stronger than expected incremental production from the new North Carolina plant, which began operations in the middle of the third quarter. DSIT's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard

Posted: 21 Oct 2010 01:35 PM PDT

Earlier this week, major oilfield services provider Halliburton Co. (HAL) announced its financial results for the quarter ended September 30, 2010.
Now that the analysts have had some time to digest the quarterly performance, they are weighing in with their estimate revisions. Below we cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the stock.
Earnings Review
Halliburton’s better-than-anticipated third-quarter 2010 results … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Three ETFs To Play Coffee’s Supply Concerns

Posted: 21 Oct 2010 01:17 PM PDT

Heavy rainfall have many concerned about coffee supplies, pushing the agriculturally-based commodity to its highest levels in more than 13 years giving positive price support to the iPath DJ-UBS Coffee TR Sub-Idx (JO), the PowerShares DB Agriculture Fund (DBA) and the iPath DJ-UBS Agriculture TR Sub-Idx ETN (JJA).
Coffee futures for December delivery recently broke $2 per pound as a string of storms in the Caribbean dumped huge amounts of rain over South and Central America resulting in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SunTrust Swings To Profit

Posted: 21 Oct 2010 01:05 PM PDT

SunTrust Banks Inc.'s (NYSE:STI) third quarter 2010 earnings of 17 cents per share were substantially ahead of a loss of 11 cents in the prior quarter and a loss of 76 cents in the year-ago quarter.
Results for the quarter primarily benefited from a rise in non-interest income and fee based revenues, along with a continuing decline in provision for credit losses and a strong capital position. However, increase in non-interest expenses was a downside.
SunTrust's net income came in at $84 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PNC Misses Marginally

Posted: 21 Oct 2010 01:05 PM PDT

PNC Financial Services Group Inc.'s (NYSE:PNC) third-quarter adjusted earnings of $1.56 per share were two pennies short of the Zacks Consensus Estimate of $1.58. Results also compare favorably with adjusted earnings of $1.12 in the prior-year quarter.
Adjusted earnings for the quarter leave out the gain of 62 cents on the sale of PNC Global Investment Servicing and integration costs of 11 cents. Adjusted results for the year-ago quarter leave out integration costs of 12 cents. Considering these … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AMB Property Beats Estimates

Posted: 21 Oct 2010 01:05 PM PDT

AMB Property Corp. (AMB), a leading real estate investment trust (REIT), reported third quarter 2010 recurring fund from operations (FFO) of 32 cents per share compared with 71 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 third quarter 2010 recurring FFO beat the Zacks Consensus Estimate by 2 cents. The year-over-year decrease in quarterly FFO … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Trinity Biotech Q3 Results Solid

Posted: 21 Oct 2010 01:05 PM PDT

Third Quarter Financial Results

On October 20, 2010, Trinity Biotech (NASDAQ:TRIB) reported financial results for the third quarter ending September 30, 2010. The company beat our estimates on both revenue and EPS. Revenue of $18.8 million was 2% ahead of our $18.2 million forecast while EPS (adjusted for a non-cash charge related to the coag divestiture) beat by $0.035 ($0.162 actual vs. $0.127 estimated) or 28%.

The % difference in revenue was fairly evenly split between clinical lab and POC … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rail Traffic Continues To Show Improvement

Posted: 21 Oct 2010 12:42 PM PDT

WASHINGTON, D.C. – Oct. 21, 2010 – “The Association of American Railroads (AAR) today reported that weekly rail traffic continues to show improvement over 2009 levels with U.S. railroads originating 303,664 carloads for the week ending Oct. 16, 2010, up 10.1% compared with the same week last year. Intermodal traffic for the week totaled 237,180 trailers and containers, up 15.1% compared with the same week a year ago, with container volume up 15.8% and trailer volume up 11.1%.”

MP: Based … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BB&T Beats By A Nickel

Posted: 21 Oct 2010 12:35 PM PDT

BB&T Corporation's (NYSE:BBT) third quarter 2010 adjusted earnings came in at 31 cents, a nickel ahead of the Zacks Consensus Estimate of 26 cents. Adjusted earnings for the reported quarter leave out merger-related charges of one cent per share.
Considering this non-recurring item, earnings per share for the reported quarter were 30 cents compared with 23 cents in the year-ago quarter.

Higher mortgage banking income, checkcard fees, non-deposit fees and commissions and improved net … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Alcon Beats, Improves Outlook

Posted: 21 Oct 2010 12:35 PM PDT

Alcon Inc. (NYSE:ACL) reported third-quarter earnings of $1.84 per share, easily beating the Zacks Consensus Estimate of $1.75 and 7.6% ahead of the year-ago figure. Earnings were boosted by strong revenues.
Revenues
Quarterly revenues of Alcon increased 9% to $1.76 billion (including the impact of foreign exchange), ahead of the Zacks Consensus Estimate of $1.70 billion. While strong contributions from the Systane family of products, continued gains in the glaucoma market and increased sales … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mixed Results From Goodrich

Posted: 21 Oct 2010 12:35 PM PDT

Goodrich Corporation (NYSE:GR) announced third quarter 2010 operating earnings of $1.25 per share versus $1.14 in the year-ago quarter, reflecting a growth of 9.6%. The third quarter results handsomely surpassed the Zacks Consensus Estimate of $1.13.
Goodrich reported GAAP earnings of $1.25 per share in the third quarter versus $1.14 in the year-ago quarter.
Total Revenue
Goodrich’s total operating revenue in third quarter 2010 was $1,748 million versus $1,647.7 million in the year-ago quarter, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Seagate Falls Short Of Expectation

Posted: 21 Oct 2010 12:35 PM PDT

Seagate Technology Inc. (NASDAQ:STX) reported first quarter fiscal 2011 earnings per share of 37 cents, missed the Zacks Consensus Estimate of 45 cents. Revenue of $2.69 billion also missed the Zacks Consensus Estimate of $2.75 billion.
Revenue
Seagate reported revenue of $2.69 billion in the first quarter, up 1.3% from $2.66 billion in the year-ago period. The quarter's revenue came in below the guided range of $2.7 billion to $2.9 billion. The company shipped 49.2 million disk drive units in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

No One Pays Taxes On Business Not Done

Posted: 21 Oct 2010 12:20 PM PDT

I have been reporting on the increases in September state tax revenues for at least 14 states so far, and have suggested that this should be interpreted as a sign that the economic activities subject to state taxes (retail sales, individual income earned, corporate income generated, etc.) are expanding as the economy improves.   

In today’s “The Gartman Letter,” Dennis seems to concur that the improving tax collections reported for September are a sure sign of economic strength:

“We … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Precision Castparts Beats Estimate

Posted: 21 Oct 2010 12:05 PM PDT

Precision Castparts Corp. (NYSE:PCP) released its second quarter fiscal 2011 earnings results before the market opened today, reporting earnings from continuing operations of $1.70. The earnings reported by the company surpassed its year-ago quarter figure of $1.54 and the Zacks Consensus Estimate of $1.68. The company benefited from strong sales growth in aerospace and general industrial businesses and due to an improved cost structure.
Total revenue increased by 17% year over year to $1.5 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

LabCorp Beats, Ups EPS Guidance

Posted: 21 Oct 2010 12:05 PM PDT

Leading lab-testing company Laboratory Corporation of America Holdings (NYSE:LH) reported better-than-expected third quarter fiscal 2010 results with an EPS of $1.34 compared to the year-ago quarter's $1.21 per share. However, adjusting for restructuring and other special charges, the EPS came in at $1.47, ahead of the Zacks Consensus Estimate of $1.40 and the year-ago quarter's $1.22.
Revenues increased 7.7% year over year to $1,276.5 million, ahead of the Zacks Consensus Estimate of $1,257 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USD/CHF In Bear Market Rally

Posted: 21 Oct 2010 11:45 AM PDT

Price action on USD/CHF (a 4-hour chart of which is shown) as of Thursday (10/21/2010) has shown that it is still entrenched in a bullish retracement within the context of a strong downtrend. This retracement hit a high around 0.9755, near the downtrend resistance line, before retreating, and occurs after price hit an all-time low at 0.9463 just last week.

Despite this bullish retracement, the overall technical bias continues to be to the downside in line with the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hershey In Line, Ups Outlook

Posted: 21 Oct 2010 11:35 AM PDT

The Hershey Company (NYSE:HSY) has posted third-quarter 2010 financial results. The quarterly earnings of 79 cents a share remained in line with the Zacks Consensus Estimate but rose 8.2% from 73 cents earned in the prior-year quarter on the heels of growth in emerging markets.
On a reported basis, earnings came in at 78 cents, up 9.9% from 71 cents delivered in the year-ago quarter.
A Look at the Top Line
Despite economic woes, Hershey sustained its top-line momentum with consumers preferring … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hershey In Line, Ups Outlook

Posted: 21 Oct 2010 11:35 AM PDT

The Hershey Company (NYSE:HSY) has posted third-quarter 2010 financial results. The quarterly earnings of 79 cents a share remained in line with the Zacks Consensus Estimate but rose 8.2% from 73 cents earned in the prior-year quarter on the heels of growth in emerging markets.
On a reported basis, earnings came in at 78 cents, up 9.9% from 71 cents delivered in the year-ago quarter.
A Look at the Top Line
Despite economic woes, Hershey sustained its top-line momentum with consumers preferring … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Northern Trust Lags Estimates

Posted: 21 Oct 2010 11:35 AM PDT

Northern Trust Corporation's(NASDAQ:NTRS) third quarter earnings of 64 cents per share were below the Zacks Consensus Estimate of 72 cents per share, attributed to low interest rate environment and lingering economic recovery.
Last year, the company reported a gain of 77 cents per share and 82 cents in the prior quarter.  Net income reported was $155.6 million compared with net income of $187.9 million in the prior-year quarter $199.6 million in the prior quarter.
Quarter in Detail
Net … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Subscriber Upside Boosts Netflix

Posted: 21 Oct 2010 11:35 AM PDT

Shares of Netflix Inc. (NASDAQ:NFLX) were up $14.18 (9.26%) after hours on strong third quarter 2010 results based on the fourth consecutive quarter of more than one million net subscriber additions.
Netflix gained significantly from an increasing demand for its streaming services. Moreover, introduction of streaming services in Canada also boosts its customer base during the quarter.
Earnings per share (including stock-based compensation) were 70 cents, up 35.0% year over year but down 12.5% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests 100 Hour MA As Market Likes Then Hates The Pair

Posted: 21 Oct 2010 11:08 AM PDT

Fifth Third Beats, Reduces NPAs

Posted: 21 Oct 2010 11:05 AM PDT

Fifth Third Bancorp (NASDAQ:FITB) reported third quarter net income of $175 million or 22 cents, ahead of the Zacks Consensus Estimate of 17 cents. Results also compare favorably with net income of $130 million or 16 cents per share in the prior quarter and a net loss of $159 million or 20 cents per in the prior-year quarter.
Results were driven by better-than-expected growth in revenues but were impacted substantially by Fifth Third's strategic actions to reduce credit risk.
Total revenues at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Reynolds American Lights Up 3Q

Posted: 21 Oct 2010 11:05 AM PDT

Reynolds American Inc. (NYSE:RAI) delivered robust third quarter results for 2010.
The company posted adjusted quarterly earnings of $1.35 per share surpassed the Zacks Consensus Estimate by a penny and year-ago earnings by 8.9%. On a reported basis, earnings grew 4.8% to $1.30 a share in the quarter.
The North Carolina-based manufacturer and distributor of cigarette and other tobacco products reaffirmed its fiscal 2010 adjusted earnings of $4.90 to $5.05 per share. This guidance excludes charges … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Freeport Beats Consensus Handily

Posted: 21 Oct 2010 11:05 AM PDT

Metals and mining powerhouse Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) posted net income of $1.2 billion or $2.49 per share in the third quarter of 2010, outshining the Zacks Consensus Estimate of $2.14 per share. Year over year, earnings improved by 20%.
Quarterly revenues of $5.1 million surpassed the Zacks Consensus Estimate of $4.47 billion and were up 24% year over year. Higher metal prices drove sales and earnings in the quarter.
Sales Prices and Volumes
Averaged realized metal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Diamond Offshore Outperforms

Posted: 21 Oct 2010 11:05 AM PDT

Diamond Offshore Drilling Inc. (NYSE:DO) reported better-than-expected third quarter 2010 earnings of $1.43 per share, compared with the Zacks Consensus Estimate of $1.36. However, earnings were much below than the year-ago profit of $2.62.
Total revenue was $799.7 million, compared with the Zacks Consensus Estimate of $812 million and year-earlier quarter's revenue of $908.4 million.
Dividend Story

Following two consecutive quarters of reduction in its special dividend, Diamond maintained its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Baxter Beats Estimates

Posted: 21 Oct 2010 10:35 AM PDT

Baxter International Inc. (BAX) reported third quarter 2010 adjusted (excluding one-time items) earnings per share of $1.01, thereby beating the Zacks Consensus Estimate of 97 cents, and surpassing the year-ago quarter's 98 cents. The third quarter result exceeded Baxter's earlier guidance in the range of 96 cents to 99 cents.
Revenues
Total revenue was $3.2 billion, up 3% year over year, exceeding the Zacks Consensus Estimate of $3.16 billion. Domestic revenues were $1.4 billion, up 4%, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Weak 3Q For Nucor

Posted: 21 Oct 2010 10:35 AM PDT

Nucor Corporation (NYSE:NUE) recorded net profit of $23.5 million or 7 cents per share in the third quarter of 2010, missing the Zacks Consensus Estimate by 4 cents per share. Reported earnings, however, reversed the year-ago losses of $29.5 million or 10 cents per share. A difficult pricing and end-market demand scenario impacted both revenues and margins. Although Nucor posted sound year-over-year revenue numbers, they faltered sequentially.
Revenues
Quarterly sales shot up 33% to $4.1 billion … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ryder Rides High With Solid Results

Posted: 21 Oct 2010 10:35 AM PDT

Ryder System, Inc.(NYSE:R) one of the leading transportation and supply chain management companies in the U.S., released its third quarter earnings before the market opened. The company reported earnings of 76 cents per share from continuing operations, which beat the Zacks Consensus Estimate by 11 cents and were 25 cents or 49% above the year-ago quarter.
Rise in earnings was mainly driven by the company’s Fleet Management Solutions (FMS) division. Furthermore, a lower-than-anticipated tax rate … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Mixed On Money Market Volatility

Posted: 21 Oct 2010 05:32 AM PDT

10/21/10 Front month crude prices were trading mixed this session following volatility in the forex … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Macro Reports Mixed…concerned About What It Says About Economy”

Posted: 21 Oct 2010 10:29 AM PDT

ICAP’s Kenneth Polcari discusses his short-term fundamental focus: earnings, economic data and rate … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Surges On Economic Data

Posted: 21 Oct 2010 05:27 AM PDT

10/21/10 The euro currency continued to rise this session following an improvement in European economic data and US jobless … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Seagate Misses Again

Posted: 21 Oct 2010 10:05 AM PDT

Seagate Technology (NASDAQ:STX) reported first quarter 2011 earnings of 37 cents a share, falling way short of Zacks Consensus Estimate of 45 cents per share. The company's GAAP reported EPS of 31 cents a share included the impact of non-recurring items. Earnings were down both sequentially as well as year over year.
Quarterly revenue off $2.7 billion, up 1.3% from the year-earlier level, was in line with the Zacks Consensus revenue estimate. Seagate failed to report any significant increase in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Products Drive Novartis

Posted: 21 Oct 2010 10:05 AM PDT

Novartis' (NYSE:NVS) third quarter 2010 earnings per ADR (excluding special items) of $1.36 handsomely beat the Zacks Consensus Estimate by $0.16 and the year-ago earnings by $0.19. Strong performances from new products drove earnings in the quarter.
Revenues climbed 13% (16% in constant currencies) to $12.6 billion but fell short of the Zacks Consensus Revenue Estimate of $12.9 billion. Strong performances came from all divisions of the Switzerland-based pharma giant in the reported … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Xerox Profit More Than Doubles

Posted: 21 Oct 2010 10:05 AM PDT

Xerox Corporation (NYSE:XRX) reported a profit that more than doubled to $314 million in the third quarter of the year from $150 million in the same quarter a year ago. On earnings per share basis, the company has beaten the Zacks Consensus Estimate by a penny with a profit of 22 cents compared with 17 cents in the third quarter of 2009.
Revenues for the quarter surged 48% to $5.43 billion driven by an impressive growth in the Services segment, comprising document outsourcing (DO), business … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Higher; Dax Up 1.33%

Posted: 21 Oct 2010 09:55 AM PDT

Forex Pros – European stocks were up after the closing bell on Thursday.

At the close of European trade, Germany's DAX rose 1.33%, London's FTSE 100 gained 0.50%, France's CAC 40 climbed 1.31% and the EURO STOXX 50 was up 1.08%.

Earlier in the day, preliminary data showed that the euro zone's manufacturing PMI rose unexpectedly to a seasonally adjusted 54.10 last month, from 53.70 in the preceding month.

Analysts had expected the euro zone's manufacturing PMI to fall to 53.20 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Great Mancession Continues Yet Obama Pushes For Economic Security, Jobs For America’s Women

Posted: 21 Oct 2010 09:45 AM PDT

The chart above displays monthly employment levels by gender back to 2002, and the shaded area highlights the job picture from December 2007 (the start of the recession) through September 2010.  As of last month, total U.S. employment is still 6.78 million jobs below the level when the recession started.  Of those jobs lost, 4.66 million, or 68.7% of the total, were jobs held by men, and 2.12 million were jobs lost by women, or 31.3% of all jobs lost.  In other words, for every … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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