Wednesday, April 27, 2011

DailyMarkets.com - Northrop Beats On EPS

DailyMarkets.com - Northrop Beats On EPS


Northrop Beats On EPS

Posted: 27 Apr 2011 12:10 PM PDT

Los Angeles-based leading shipbuilder and defense contractor, Northrop Grumman Corporation (NYSE:NOC), reported impressive first quarter 2011 adjusted earnings of $1.67 per share compared with $1.34 in the first quarter 2010. Northrop results also exceeded the Zacks Consensus Estimate of $1.55 for the quarter. The upside in earnings was attributable to better performance across all its segments.
On a reported basis, Northrop Grumman clocked earnings per share of $1.79 versus $1.53 in the year-ago … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Jones Lang Misses Estimates

Posted: 27 Apr 2011 12:05 PM PDT

Jones Lang LaSalle Incorporated (NYSE:JLL), a leading real estate investment trust (REIT), has reported first quarter 2011 net income of $1.5 million or 3 cents per share compared to $0.2 million or 1 cent in the year-earlier quarter. Earnings for the reported quarter were well below the Zacks Consensus Estimate of 31 cents.
Revenues for the reported quarter came in at $687.9 million compared to $580.7 million recorded in the year-ago quarter. Total revenues during the quarter exceeded the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Broadcom Tops, Guidance Weak

Posted: 27 Apr 2011 12:05 PM PDT

Broadcom Corporation (NASDAQ:BRCM) generated revenues of $1.82 billion in the first quarter of 2011, up 24.2% year over year but down 6.6% sequentially. The results were within management's guidance of $1.75 billion – $1.85 billion and surpassed the Zacks Consensus Estimate of $1.81 billion.
In terms of end-markets, the Broadband Communications segment recorded a 15% sequential decline as expected by management due to excess channel inventory.
Growth in this segment will be driven by the continued … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Whirlpool Q1 Shabby But Beats Est.

Posted: 27 Apr 2011 12:05 PM PDT

Whirlpool Corporation (NYSE:WHR) reported a 16% fall in profit (before special items) to $2.11 per share from $2.51 per share (before special items) in the year-ago quarter. However, the company has beaten the Zacks Consensus Estimate by a significant margin of 49 cents per share.
The company's results were favorably impacted by cost reduction and productivity initiatives, increased monetization of certain tax credits, and higher unit volume.  These were offset by lower product price/mix … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Kinetic Beats, Ups Guidance

Posted: 27 Apr 2011 12:05 PM PDT

Kinetic Concepts Inc. (NYSE:KCI) reported first-quarter fiscal 2011 EPS of 94 cents, up 27% from 74 cents in the first quarter of 2010. However, adjusted EPS (excluding non-cash acquisition-related items and expenses associated to the debt refinancing during the quarter) was $1.11, beating both the Zacks Consensus Estimate of $1.02 and the year-ago quarter's earnings of 91 cents.
Revenues of $501.2 million increased 3% year over year and exceeded the Zacks Consensus Estimate of $494 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Northrop Beats On EPS

Posted: 27 Apr 2011 12:05 PM PDT

Los Angeles-based leading shipbuilder and defense contractor, Northrop Grumman Corporation (NYSE:NOC), reported impressive first quarter 2011 adjusted earnings of $1.67 per share compared with $1.34 in the first quarter 2010. Northrop results also exceeded the Zacks Consensus Estimate of $1.55 for the quarter. The upside in earnings was attributable to better performance across all its segments.
On a reported basis, Northrop Grumman clocked earnings per share of $1.79 versus $1.53 in the year-ago … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Exelon Tops, Backs Outlook

Posted: 27 Apr 2011 11:36 AM PDT

Exelon Corporation (NYSE:EXC) announced first-quarter 2011 operating earnings of $1.17 per share versus $1.00 per share in the year-ago quarter. The results of the company surpassed the Zacks Consensus Estimate of $1.06 by 11 cents.
The year-over-year growth in earnings was attributable to new electric and gas distribution rates at PECO effective January 2011, increase in nuclear volume due to fewer nuclear outages and higher realized energy prices in the Mid-Atlantic region due to the expiration … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Moody’s Reports Excellent 1Q

Posted: 27 Apr 2011 11:36 AM PDT

Moody's Corp. (NYSE:MCO) reported strong first quarter 2011 earnings, beating the Zacks Consensus Estimate of 53 cents by 14 cents (26.4%). The positive surprise was primarily driven by strong top-line growth across all segments.
Based on the strong results, Moody's revised its full-year guidance, expecting higher revenues from most of its operational segments.
Operating Performance
Moody's reported pro forma earnings of 67 cents per share, up 42.3% year over year compared with 47 cents in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Energizer Beats On Strong Top Line

Posted: 27 Apr 2011 11:35 AM PDT

Energizer Holdings Inc. (NYSE:ENR) reported second quarter 2011 non-GAAP earnings (excluding charges) of $1.04 per share, comprehensively beating the Zacks Consensus estimate of 91 cents per share. The upside surprise was driven by better-than-expected top-line growth.
Operating Performance
Earnings per share (EPS) on a non-GAAP basis decreased 15.4% year over year from $1.23 reported in the prior-year quarter.
Including charges and one-time items of 49 cents, EPS came in at 55 cents in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Amedisys Disappoints

Posted: 27 Apr 2011 11:35 AM PDT

Amedisys (NASDAQ:AMED), a home healthcare provider reported an EPS of 53 cents during the first quarter of 2011 compared to $1.29 in the year-ago period, down 58.3% year over year. However, after adjusting for certain one-time items, the EPS was 62 cents, missing the Zacks Consensus Estimate by 4 cents and 51.9% lower than the year-ago quarter.
Amedisys earns revenue through its home health and hospice agencies by providing a variety of services at homes. Revenues were $364.3 million, missing the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


CB Richard Ellis Beats Estimates

Posted: 27 Apr 2011 11:35 AM PDT

CB Richard Ellis Group Inc. (NYSE:CBG), the world's largest commercial real estate services company (on the basis of 2010 revenues), has reported first quarter 2011 revenues of $1.2 billion compared with $1.0 billion in the year-earlier quarter, reflecting an increase of 16%. The strong quarterly revenues marked a solid start to fiscal 2011 as first quarter has been historically the seasonally weakest quarter for the company. Total revenues in the reported quarter were in line with the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Boeing’s Strong EPS Dispels Fear

Posted: 27 Apr 2011 11:35 AM PDT

The Boeing Company (NYSE:BA) casting away all market pessimism reported strong numbers for the first quarter of 2011. In the reported quarter the company posted quarterly earnings of 78 cents per share, beating both the Zacks Consensus Estimate of 71 cents and year-ago earnings of 70 cents. The upside in earnings came from higher military aircraft earnings which offset declines in the commercial airplanes business.
Operating Statistics
On the revenue front, lower commercial airplane deliveries … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Hot Option Plays: Fed Speaks: Will Bears Scratch Or Bulls Run?

Posted: 27 Apr 2011 11:19 AM PDT

Cusick’s Corner
Not much changed in the Fed statement except that they acknowledged there’s inflation (specifically commodity inflation) and the market handled that observation better than I expected. What will be interesting about this unprecedented press conference is if the right or important questions will be allowed to be asked — like was the entire stimulus worth it when employment is still slow and housing is still struggling. If Big Ben acknowledges inflation risk, the bear claws could … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Disconnected: Nokia To Cut 7,000 Jobs Worldwide

Posted: 27 Apr 2011 11:15 AM PDT

04/27/11 In an effort to shed costs, the Nokia Corp. announced Wednesday that it will slash 7,000 jobs worldwide through layoffs and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Up In U.S. Trade

Posted: 27 Apr 2011 11:15 AM PDT

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Wednesday.<br/><br/> AUD/USD was trading at 1.0835, up 0.48% at time of writing.<br/><br/> The pair was likely to find support at 1.0677, Tuesday&rsquo;s low, and resistance at 1.0852, today&rsquo;s high.<br/><br/> Meanwhile, the Australian Dollar was down against the Euro and up against the Japanese Yen, with EUR/AUD gaining 0.04% to hit 1.3588 and AUD/JPY rising 1.39% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


DTE Energy Beats Sales, Misses EPS

Posted: 27 Apr 2011 11:05 AM PDT

DTE Energy Co. (NYSE:DTE) announced its first-quarter 2011 operating earnings of $1.11 per share, which fell short of the Zacks Consensus Estimate by a dime. Earnings in the quarter were also lower than $1.38 per share reported in the year-ago period.
The year-over-year decline in operating earnings during the first quarter of 2011 was due to lackluster results at Energy Trading, Power and Industrial Projects, and Corporate and Other.
GAAP earnings in the quarter were $1.04 per share versus $1.38 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Baker Hughes Shines

Posted: 27 Apr 2011 11:05 AM PDT

Baker Hughes Inc. (NYSE:BHI) reported impressive first quarter 2011 results with a jump in per share profit based on strong international operations.
The company's earnings came in at 87 cents per share, way ahead of the Zacks Consensus Estimate of 78 cents and more than twice the year-ago quarter's profit level of 41 cents.
Revenue shot up 78.2% to $4.52 billion in the quarter from the year-earlier level of $2.54 billion. The quarter's revenue also exceeded the Zacks Consensus Estimate of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Fed Statement Decoded

Posted: 27 Apr 2011 11:05 AM PDT

The Federal Reserve just finished its meeting, and as was universally expected, it kept the Fed Funds rate at the 0 to 0.25% range where it has been since December 2008. The real action since then has been in the policy statement and the changes in the language of it.

Below, I present the current policy statement, and the policy statement released after its March 15th meeting on a paragraph-by-paragraph basis, and then interpret and translate the statements from “Central Bankerese” to plain … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Watson Beats On EPS; Ups Guidance

Posted: 27 Apr 2011 10:45 AM PDT

Watson Pharmaceuticals Inc.’s  (NYSE:WPI) first quarter 2011 earnings (excluding special items) of 89 cents per share beat the Zacks Consensus Estimate by 3 cents and the year-ago earnings by 8 cents. Earnings were bolstered by higher revenues and reduced cost, resulting from a lower number of third-party product launches in the Distribution segment.
Quarterly Details
Revenues increased 2% to $876.5 million, mainly due to increased generic sales during the quarter. First quarter revenues … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Durable Goods Stronger Than Expected

Posted: 27 Apr 2011 10:45 AM PDT

New Orders for Durable Goods rose 2.5% in March. That was well above the consensus expectations of an increase of 1.8%. In addition, the February numbers were revised sharply upwards. It was first reported as an decrease of 0.6%, but now they say new orders rose 0.6%. All in all, a nice combination of acceleration, positive surprise and upward revisions.

Part of the story was the extremely volatile Transportation Equipment side, and more specifically, from the Non-Defense Aircraft component, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – NZD/USD Down During The U.S. Session

Posted: 27 Apr 2011 10:45 AM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Wednesday.<br/><br/> NZD/USD was trading at 0.8046, down 0.01% at time of writing.<br/><br/> The pair was likely to find support at 0.7975, Monday&rsquo;s low, and resistance at 0.8107, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.65% to hit 1.3465 and EUR/NZD rising 0.66% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Approaches High For The Day On “Ambiguous Fed”

Posted: 27 Apr 2011 10:41 AM PDT

The post FOMC statement market has led to a lower dollar. Perhaps the market was looking for more certainty from the Fed. Instead ambiguity was the name of the game.

As far as growth the fed chose to say the economic recovery is proceeding at a "moderate pace".  Does that mean at a steady pace or is it perhaps moderating. When compared to "firmer footing" it seems like it is moderating or did the firmer footing lead to a higher moderate level?  I don't … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Sealed Air Ups Rev, Falters On EPS

Posted: 27 Apr 2011 10:36 AM PDT

Sealed Air Corporation (NYSE:SEE) delivered adjusted EPS of 34 cents for the first quarter ended March 31, 2011, falling short of the Zacks Consensus Estimate of 38 cents. Earnings per share in the quarter dropped 6% from the EPS of 36 cents in the year-ago quarter. Sealed Air's results were impacted by an unfavorable spread between selling prices and raw material and other energy-based costs in the quarter and an adverse year-over-year comparison in other (expense) income due to foreign … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Avery Beats Consensus

Posted: 27 Apr 2011 10:36 AM PDT

Avery Dennison Corporation (NYSE:AVY) reported adjusted earnings per share (EPS) of 51 cents in its first quarter 2011, beating the Zacks Consensus Estimate of 47 cents. EPS in the quarter however posted a decline of 16% from the adjusted EPS of 61 cents in the prior-year quarter.
Both the adjusted EPS in the reported as well as year-ago quarter excluded the net effect of restructuring charges, asset impairment and lease cancellation charges, and gain/loss from legal settlements, of 9 cents and 10 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Trivia Of The Day: State Mottoes

Posted: 27 Apr 2011 10:34 AM PDT

Mottoes of the 50 States. 22 are in Latin, one is in Greek (California: “Eureka”), one is in Italian (Maryland), one in French (Minnesota), one in Native American (Washington), one in Hawaiin (Hawaii), and the rest are in English.

HT: Alex … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


“Not Expecting Anything…from Bernanke”

Posted: 27 Apr 2011 05:30 AM PDT

04/27/11 Sunrise Securities’ Ben Willis weighs in on the Fed Reserve, the latest earnings and expectations for US Q1 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Central Bank Of Namibia Holds Policy Rate At 6.00%

Posted: 27 Apr 2011 10:13 AM PDT

The Bank of Namibia held the repo rate at 6.00% to accommodate a weak economy as inflation appeared “not demand driven”.  The Bank said: “The executive commission felt that a change in the stance at this point would run the risk of unduly depressing domestic demand at a time when this demand is not the cause of recent inflation acceleration,”.  Namibia’s inflation rose to 3.8% in March from 3.1% in the previous month, mainly driven by food and transport … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


H&R Block Reports Interim Results

Posted: 27 Apr 2011 10:00 AM PDT

H&R Block Inc. (NYSE:HRB) reported a 6.1% year over year increase in total tax returns prepared for the period November 1, 2010 to April 18, 2011. Total retail returns prepared grew 3.6%, while total digital returns increased 12.1% (including 26.8% increase in online filings). Aggregate net retail tax preparation fees increased 0.2%.
H&R Block projects fiscal 2011 Tax Services segment revenues of approximately $2.9 billion. Pre-tax margin for the segment is expected to be in the range of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Cardinal Health

Posted: 27 Apr 2011 10:00 AM PDT

Cardinal Health (NYSE:CAH) is slated to report its third-quarter fiscal 2011 (ending March) results on Thursday, April 28. The company expects earnings per share in the range of $2.54 to $2.60 for fiscal 2011. The current Zacks Consensus Estimate for revenues and earnings for the third quarter are $25.6 billion and 69 cents per share, respectively.
Second Quarter Recap
Cardinal Health reported second-quarter fiscal 2011 adjusted earnings per share of 69 cents, beating the Zacks Consensus Estimate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Up In U.S. Trade

Posted: 27 Apr 2011 10:00 AM PDT

Forex Pros – The British Pound was higher against the U.S. Dollar on Wednesday after the release of U.S. data on Core Durable Goods Orders.<br/><br/> GBP/USD was trading at 1.6549, up 0.42% at time of writing.<br/><br/> The pair was likely to find support at 1.6432, Tuesday&rsquo;s low, and resistance at 1.6581, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core durable goods orders rose less-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


European Markets Mixed At Close; Dax Up 0.66%

Posted: 27 Apr 2011 09:55 AM PDT

Forex Pros – European stocks were mixed after the closing bell on Wednesday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX rose 0.66%, London&rsquo;s FTSE 100 shed 0.02%, France&rsquo;s CAC 40 climbed 0.55% and the EURO STOXX 50 was up 0.75%.<br/><br/> Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 0.35%; the S&P 500 index gained 0.13%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Dollar Bouncing Between Gains And Losses

Posted: 27 Apr 2011 04:45 AM PDT

04/27/11 The dollar has fluctuated between gains and losses thorughout the day following an improvement in durable goods orders and the Fed, as expected, keeping its interest rates … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Deciphering The FOMC Statement, USD Drops As Fed Sticks Near Status Quo

Posted: 27 Apr 2011 09:44 AM PDT

Before we take a look at the April meeting's statement, let's review what we saw in March:
FOMC Back in March:
On Growth: "Information received since the Federal Open Market Committee met in January suggests that the economic recovery is on a firmer footing, and overall conditions in the labor market appear to be improving gradually. Household spending and business investment in equipment and software continue to expand. However, investment in nonresidential structures is still weak, and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


US Federal Reserve FOMC Holds Rate At 0-0.25%

Posted: 27 Apr 2011 09:36 AM PDT

The US Federal Open Market Committee held the fed funds rate unchanged at 0 to 0.25 percent, and made no changes to the terms of the $600 billion asset purchase program or “Quantitative Easing II”.  On quantitative easing the Committee’s noted: “the Committee is maintaining its existing policy of reinvesting principal payments from its securities holdings and will complete purchases of $600 billion of longer-term Treasury securities by the end of the current quarter.”.  The committee … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Census Bureau Report: More Than 6 In 10 Advanced Degree Holders Between Ages 25-29 Are Women

Posted: 27 Apr 2011 09:20 AM PDT

From yesterday’s Census report on educational attainment, the chart above shows the college degree gap in favor of women for all levels of higher education for age group between 25-29.  More than 60% of advanced degrees are now held by women for that age group, up by more than three percentage points from the 58.2% reported by Census for 2009.  For African-Americans ages 25-29,  there are 239 women holding advanced degrees for every 100 men with graduate degrees (70.5% female … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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