Tuesday, July 26, 2011

DailyMarkets.com - Waters Underperforms Estimate

DailyMarkets.com - Waters Underperforms Estimate

Waters Underperforms Estimate

Posted: 26 Jul 2011 12:00 PM PDT

Waters Corporation (NYSE:WAT) released its second-quarter 2011 earnings before the market opened today, reporting earnings per share from continuing operation of $1.07, below the Zacks Consensus Estimate of $1.14. Earnings in the quarter increased from 90 cents in the second quarter of 2010.
Revenue
On the top line, WAT reported total revenue of $448 million for the first quarter, up 14% year over year. Foreign currency translation added 6% to the sales. The company benefited in the quarter from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Simon Property Beats Estimates

Posted: 26 Jul 2011 12:00 PM PDT

Simon Property Group Inc. (NYSE:SPG), a leading real estate investment trust (REIT), reported second quarter 2011 FFO (funds from operations) of $583.0 million or $1.65 per share, compared to $487.7 million or $1.38 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 reported quarterly FFO exceeded the Zacks Consensus Estimate by 7 cents. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Occidental Beats On Strong Prices

Posted: 26 Jul 2011 12:00 PM PDT

Occidental Petroleum Corporation's (NYSE:OXY) second quarter 2011 operating earnings jumped 68.9% to $2.23 per share from $1.32 in the year-ago quarter. Earnings also clearly surpassed the Zacks Consensus Estimate of $2.19 per share.
GAAP net earnings during the quarter were $2.23 per share versus $1.31 per share reported in the year-ago quarter.
Total Revenue
Occidental’s quarterly revenue increased 34.1% to $6.17 billion from $4.6 billion in the year-ago quarter. The actual results of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SunPower To Miss Expectations

Posted: 26 Jul 2011 12:00 PM PDT

SunPower Corporation (SPWRA) reported preliminary results for its second quarter 2011, which is scheduled to be released on August 9, 2011. The company expects pro forma loss per share for the quarter to be in the range of 19 cents to 20 cents, much wider than its previous expectation of a loss of 5 cents to earnings of 10 cents. The Zacks Consensus Estimate for the quarter is currently pegged at a loss of 14 cents per share.
For the quarter, SunPower expects GAAP loss per share in the range … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tellabs Woes Continue, Outlook Weak

Posted: 26 Jul 2011 12:00 PM PDT

Tellabs Inc. (NASDAQ:TLAB) declared its second quarter of 2011 financial results today, lagging behind the Zacks Consensus Estimates. Total revenue of $334.2 million was down 21% year over year, below the Zacks Consensus Estimate of $339 million. Although international revenue increased, lower revenue from North America is the primary reason for this poor performance.
On a GAAP basis, net loss in the second quarter of 2011 was $20.1 million or a loss of 6 cents per share compared with a net income … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ford Beats, But Down From Prior Year

Posted: 26 Jul 2011 11:35 AM PDT

Ford Motor Co. (NYSE:F) posted a profit of $2.64 billion or 65 cents per share in the second quarter of the year, a $67 million or 2.5% decline from $2.70 billion or 68 cents per share in the corresponding quarter of 2010. However, the company fared better than the Zacks Consensus Estimate of 60 cents per share.
The decline in profit resulted from an anticipated slump in Financial Services results. The automaker has already cautioned its investors in the near past about the non-recurrence of lower … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PACCAR Misses Despite Stellar Results

Posted: 26 Jul 2011 11:35 AM PDT

PACCAR Inc. (NASDAQ:PCAR) reported a profit of $239.7 million or 65 cents per share in the second quarter of the year that more than doubled from $99.6 million or 27 cents per share in the prior-year quarter. However, the truck maker's profit missed the Zacks Consensus Estimate of 68 cents per share.
The improvement in profit reflected strong truck sales in North America and Europe and better aftermarket parts sales and financial services results worldwide. However, the company's suppliers faced … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Bristol-Myers

Posted: 26 Jul 2011 11:35 AM PDT

Bristol-Myers Squibb Company (NYSE:BMY) is set to announce its second quarter 2011 results on  28 July before the opening bell. The Zacks Consensus Estimate for the second quarter is $0.55, representing a year-over-year increase of 1.9%. Bristol Myers has surpassed earnings estimates in three of the last four quarters. The trailing four-quarter average is 5.14%.
First Quarter Recap
Bristol-Myers's first quarter 2011 earnings (excluding special items) of $0.58 per share surpassed the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Weak 2Q For Kodak

Posted: 26 Jul 2011 11:35 AM PDT

Eastman Kodak Company (NYSE:EK) reported its financial results for the second quarter of 2011 on July 26. The company reported loss from continuing operations of 67 cents a share compared with a loss of 62 cents in the year-ago comparable quarter.
The loss incurred during the quarter was higher than the Zacks Consensus Estimate loss of 59 cents per share.
The year over year earnings decline was primarily attributable to rising raw material costs of silver and aluminum and investments to drive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Plum Creek Misses Despite EPS Rise

Posted: 26 Jul 2011 11:35 AM PDT

Plum Creek Timber Co. Inc. (NYSE:PCL), a real estate investment trust (REIT) owning and managing timberlands in the U.S., reported fiscal 2011 second quarter earnings of $44 million or 27 cents per share, compared with $35 million or 21 cents in the year-earlier quarter. The second quarter 2011 earnings missed the Zacks Consensus Estimate by 2 cents.
Total revenues for the quarter were $284 million compared with $258 million in the year-ago quarter. Total quarterly revenues exceeded the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

RadioShack Underperforms

Posted: 26 Jul 2011 11:35 AM PDT

RadioShack Corp. (NYSE:RSH) declared its second-quarter 2011 financial results, which fell below the Zacks Consensus Estimates. The comparable-store sales for the company-operated stores and kiosks (stores and kiosks opened at least a year) declined 7.8% year over year. This is a key retail performance indicator measuring growth from existing sales locations.
GAAP net income, in the second quarter of 2011 from continuing operations, was $23.5 million or 23 cents per share compared with a net … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: What’s The Dealio?

Posted: 26 Jul 2011 11:18 AM PDT

Cusick’s Corner
This is frustrating, choppy action in the markets today and when they start acting like this you really want to keep your focus and patience on positioning. Gold traders, GLD, are the most frustrated, this market looks like it should just turn over but just has not turned south, and the bid keeps getting nibbled, especially since there is no impasse on the Debt ceiling issue. Tech, QQQ/XLK, and Consumer Discretionary, XLY, are the backbone of this market but I am leery of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Up In U.S. Trade

Posted: 26 Jul 2011 11:15 AM PDT

Forexpros – The Australian Dollar was higher against the U.S. Dollar on Tuesday after the release of U.S. data on New Home Sales.<br/><br/> AUD/USD was trading at 1.0967, up 1.12% at time of writing.<br/><br/> The pair was likely to find support at 1.0695, Thursday&rsquo;s low, and resistance at 1.0969, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that new home sales in the U.S. fell unexpectedly to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Higher Education Bubble: College Tuition Doubled Over The Last 10 Years Vs. +52% For Medical Care

Posted: 26 Jul 2011 11:11 AM PDT

The chart above illustrates graphically the “higher education bubble” by comparing the annual increases in the CPI for “College tuition and fees” (7.45% per year since 1978) to annual increases in the CPI for “medical care” (5.8% per year) to annual increases in the median price for new homes (4.3%) to the annual increases in the “CPI for all items” (3.8%). 

I would have to check to verify this, but I’m not sure there is any other item in the CPI that has gone up faster over since the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian National Beats Estimates

Posted: 26 Jul 2011 11:05 AM PDT

Canadian National Railway (NYSE:CNI) reported adjusted earnings per share of C$1.26 ($1.30) in the second quarter of 2011, surpassing the Zacks Consensus Estimate of $1.28.
Adjusted earnings increased 11.5% from the year-ago quarter of C$1.13 driven by strong volume and pricing, backed by a gradual improvement in the North American economy.
Adjusted earnings include net deferred income tax expense of C$40 million or 8 Canadian cents per share related changes in state corporate income tax rates and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Liberty Property Reports In Line

Posted: 26 Jul 2011 11:05 AM PDT

Liberty Property Trust (NYSE:LRY) reported second quarter 2011 FFO (fund from operations) of 65 cents per share compared with 67 cents per share 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 reported earnings were in line with the Zacks Consensus Estimate. Recurring FFO for the quarter stood at 69 cents per share.
At quarter end, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AK Steel Misses Zacks Consensus

Posted: 26 Jul 2011 11:05 AM PDT

AK Steel Holding Corporation (NYSE:AKS) posted its second-quarter 2011 results, delivering an EPS of 30 cents compared with 24 cents during the year-ago quarter. However, the EPS was below the Zacks Consensus Estimate of 50 cents per share.
Net sales, as reported by the company, were $1,791.9 million on the shipments of 1,497,000 tons versus $1,596.1 million and 1,449,400 tons in the prior-year quarter. Net sales also missed the Zacks Estimate of $1,804 million Average selling price for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BP Bottom Line Lags, Volume Shrinks

Posted: 26 Jul 2011 11:05 AM PDT

BP Plc (NYSE:BP) has reported second-quarter 2011 earnings of $1.76 per American Depositary Share (ADS) – on a replacement cost basis, excluding non-operating items – well below the Zacks Consensus Estimate of $1.97. The underperformance resulted mainly from lower production volumes (including the impact of divestments) and higher costs (including rig standby costs in the Gulf of Mexico/GoM), which were partly balanced by higher oil and gas price realizations.
However, quarterly results were … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

New Home Sales Still Awful

Posted: 26 Jul 2011 11:05 AM PDT

New Home Sales in May fell by 1.0% from May, to a rate of 312,000. Relative to a year ago, sales are up 1.6%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. Also, there was a downward revision to the May numbers of 4,000 to 315,000. Thus, relative to where we thought we were, it could be seen as a 2.2% decrease.

The June level was worse than the expected rate of 320,000. The fourteen lowest months on record (back to 1963) for New Home Sales have all … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 26 Jul 2011 10:45 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Tuesday after the release of U.S. data on New Home Sales.<br/><br/> USD/JPY was trading at 77.98, down 0.38% at time of writing.<br/><br/> The pair was likely to find support at 77.90, today&rsquo;s low, and resistance at 79.02, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that new home sales in the U.S. fell unexpectedly to a seasonally adjusted annual … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

3M Outpaces Estimate

Posted: 26 Jul 2011 10:35 AM PDT

3M Company (NYSE:MMM) reported second-quarter 2011 results before the market opened today, reporting earnings per share from continuing operations of $1.60, in line with the Zacks Consensus estimate. Earnings per share increased by 3.9% year over year.
Total Revenue
Total revenue in the quarter increased by 14.1% year over year to $7.7 billion. In March 2011, the earthquake in Japan negative affected sales growth by 2.4 percentage points. The company's sales increased in all regions, with 24.1% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Office Depot Beats On Bottom Line

Posted: 26 Jul 2011 10:35 AM PDT

Office Depot Inc. (NYSE:ODP) recently posted better-than-expected second-quarter 2011 results. The quarterly adjusted loss per share of 6 cents not only improved from the prior-year quarter loss of 9 cents but also outshined the Zacks Consensus Estimate loss of 12 cents.  
On a reported basis, including one-time items, Office Depot delivered a loss of 11 cents per share compared with 9 cents in the year-ago quarter.
Office Depot’s total revenue of $2710.1 million fell short of the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Berkley Beats On Higher Revenues

Posted: 26 Jul 2011 10:35 AM PDT

Property and casualty insurer W.R. Berkley Corp. (NYSE:WRB) has reported core operating earnings of 46 cents per share for the second quarter of 2011, 3 cents ahead of the Zacks Consensus Estimate, on the back of higher net premium written, coupled with high net investment income. Earnings, however, declined 29% year over year.
On a GAAP basis, net income dropped 25% to $83 million from $110 million reported in the year-ago quarter, while earnings per share declined year over year to 56 cents from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hershey Exceeds By A Penny

Posted: 26 Jul 2011 10:35 AM PDT

The Hershey Company (NYSE:HSY) has posted adjusted quarterly earnings of 56 cents a share in the second-quarter 2011 financial results, which slightly exceeded the Zacks Consensus Estimate of 55 cents. It also surpassed the prior-year adjusted earnings of 51 cents per share.
On a reported basis, earnings for the quarter came in at 56 cents, up from 20 cents per share delivered in the year-ago quarter.
The adjusted earnings in the second quarter of 2011 exclude credits related to the Project Next … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Range Resources Outperforms

Posted: 26 Jul 2011 10:35 AM PDT

Range Resources Corp. (NYSE:RRC) has reported stellar second-quarter 2011 results, buoyed by higher production level and realized prices along with lower unit costs. The company posted adjusted earnings of 27 cents a share, substantially beating the Zacks Consensus Estimate of 12 cents. The quarterly results improved three times from the year-earlier profit of 9 cents a share.
Total revenue showed a 60.4% year-over-year improvement to $306.6 million, surpassing the Zacks Consensus Estimate of $257 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ITW 2Q Misses Estimate

Posted: 26 Jul 2011 10:35 AM PDT

Illinois Tool Works Inc. (NYSE:ITW) reported its financial results for the second quarter of 2011 on July 26. Earnings per share from continuing operations were 96 cents, up 21.5% year over year. The results, however, were below the Zacks Consensus Estimate of $1.02 and toward the lower-end of management's guidance range of $0.95-$1.01.
The reported quarter’s earnings excluded 3 cents of income from discontinued operations, including which earnings came in for roughly 99 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Central Bank Of Nigeria Lifts Rate 75bps To 8.75%

Posted: 26 Jul 2011 10:30 AM PDT

The Central Bank of Nigeria increased its monetary policy interest rate by 75 basis points to 8.75% from 8.00% previously.  The Bank also increased the key borrowing and lending rates by 75bps to 6.75% and 10.75% respectively.  Bank Governor, Lamido Sansui, said: ”The inflation outlook appears uncertain owing to the expected implementation of the new national minimum wage policy and the imminent deregulation of petroleum products,” and that there is “the need for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PIMCO’s El-Erian Warns U.S. Rating At Risk, Even With Debt Ceiling Deal

Posted: 26 Jul 2011 10:17 AM PDT

SmartStops comment:  Investing in today's 21st century markets demands dynamic, intelligent risk management.  Economic impacts to governmental policies and published economic numbers are fluid.  No longer is it sufficient to just allocate amongst your holdings based on beta. 
originally published  by AdvisorOne, by Melanie Waddell
July 25, 2011
 As negotiations on a debt-ceiling deal broke down again over the weekend and leaders of both parties now plan to unveil … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cummins Reports Strong 2Q

Posted: 26 Jul 2011 10:05 AM PDT

Cummins Inc. (NYSE:CMI) reported net income of $505 million or $2.60 per share in the second quarter of 2011, significantly higher than the year-ago net income of $246 million or $1.25 per share.
However, excluding the after-tax gain of $37 million or 19 cents per share during the quarter related to the sale of the exhaust business from the Components segment, the company's adjusted income stood at $468 million or $2.41 per share, which is well ahead of the Zacks Consensus Estimate of $2.01 per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Valero Misses EPS, Tops On Rev

Posted: 26 Jul 2011 10:05 AM PDT

Valero Energy Corporation (NYSE:VLO) has posted second quarter 2011 earnings from continuing operations of $1.30 per share. The quarter's results missed the Zacks Consensus Estimate of $1.47 but climbed more than 39% from last year’s earnings from continuing operations of 93 cents.
The year-over-year improvement can be traced back to a better refining margins environment and higher feedstock discounts.
Total revenue in the quarter increased more than 52% year over year to $31,293 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Biogen Misses On EPS, Provides Outlook

Posted: 26 Jul 2011 10:05 AM PDT

Biogen Idec (NASDAQ:BIIB) reported second-quarter earnings per share of $1.36, 2 cents below the Zacks Consensus Estimate of $1.38. Earnings increased 7.1% from the year-ago period. Excluding the impact of stock-based compensation expense, second quarter 2011 earnings increased 4% from the year-ago period.
Second quarter revenues remained flat at $1.20 billion – revenues were impacted by $50 million due to an accrual related to an intermediate decision in Genentech, Inc.'s ongoing arbitration … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Profit Taking On Apple

Posted: 26 Jul 2011 10:04 AM PDT

As mentioned in my previous post, we would like to liquidate most of our positions now due to the uncertainty regarding the near future.
Looking at the Apple chart above, the stock price has now hit the resistance level of the channel. Any further upside potential in the near future should be limited. We like the idea of taking our profits and holding out for a better period to enter.
Sell Apple @ … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Mixed At Close; Dax Up 0.07%

Posted: 26 Jul 2011 09:55 AM PDT

Forexpros – European stocks were mixed after the closing bell on Tuesday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX rose 0.07%, London&rsquo;s FTSE 100 gained 0.08%, France&rsquo;s CAC 40 declined 0.66% and the EURO STOXX 50 was down 0.11%.<br/><br/> Earlier in the day, official data showed that new home sales in the U.S. fell unexpectedly to a seasonally adjusted annual rate of 312K last month from 315K in the preceding month whose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chip Maker ARM Enjoys Profit Boost As Mobile Device Sales Soar

Posted: 26 Jul 2011 03:18 AM PDT

Arm (LON:ARM), the FTSE 100 technology group whose chips power devices like the Apple iPhone, has delivered a strong set of second quarter results as demand for its products increased. Revenues leapt by 18% to £117.8 million and pre-tax profits gained 25% to £54.2 million in the three months to the end of June. That took the overall interim revenue figure to £233.9 million, up 22% year-on-year, and pre-tax profits to £104.9 million, up 29%.

ARM said it was seeing continued growth in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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