Monday, October 31, 2011

DailyMarkets.com - FEMSA Delivers Strong 3Q

DailyMarkets.com - FEMSA Delivers Strong 3Q

FEMSA Delivers Strong 3Q

Posted: 31 Oct 2011 12:05 PM PDT

Fomento Economico Mexicano S.A.’s (NYSE:FMX) third-quarter 2011 net income from continuing operation surged 16.6% to MXN 5,896.0 million ($481.1 million) from MXN 5,057.0 million ($395.0 million) in the year-ago period, primarily resulting from an increase in comparable income from operation, inclusion of 20% economic interest in Heineken Group and favorable currency translations.
Total revenue grew 18.8% year over year to MXN 50,807.0 million ($4,145.9 million). The increase was mainly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Novellus Cautious About 2011

Posted: 31 Oct 2011 11:55 AM PDT

Novellus Systems (NASDAQ:NVLS) reported third quarter earnings that beat the Zacks consensus by 4 cents, or 5.6%. Both revenue and margins continued to disappoint, with significant share buybacks the main reason for the positive outcome versus estimates. A lower tax rate also helped.
Revenue
Novellus reported revenue of $306.7 million, down 12.4% sequentially and 16.5% year over year, barely within management's guidance range of $300-$340 million.
Near-term demand trends remain weak, particularly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sohu Misses On Higher Expenses

Posted: 31 Oct 2011 11:50 AM PDT

A leading online brand and Internet portal in China, Sohu.com Inc.'s (NASDAQ:SOHU) third quarter 2011 earnings missed the Zacks Consensus Estimate by a penny. Earnings per share (EPS) of $1.17 (including stock-based compensation) increased 15.8% from $1.01 reported in the year-ago quarter.
However, reported EPS fell short of the company's guided range of $1.20 to $1.25. The miss was primarily attributed to higher operating expenses in the quarter. Third quarter earnings exclude Sohu's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Masimo Misses, Trims Guidance

Posted: 31 Oct 2011 11:50 AM PDT

Masimo Corporation (NASDAQ:MASI), a leader in non-invasive monitoring technology for patient care, recorded third-quarter fiscal 2011 earnings per share of 24 cents, missing the Zacks Consensus Estimate of 28 cents. Reported profit dipped 9.7% year over year to $14.8 million.  
Revenues
Sales for the quarter increased 3% year over year to $104 million, missing the Zacks Consensus Estimate of $109 million. Product revenues were up 10% to $97.6 million, supported by higher sales of sensors. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Monster Beats By 2 Cents

Posted: 31 Oct 2011 11:35 AM PDT

Monster Worldwide (MWW) reported revenues of $259 million, up 13.2% year over year but down 4.1% sequentially. Currency translation had a $10 million positive impact on revenue in the third quarter.
Bookings (represent the dollar value of contractual orders received, and are considered a key indicator of future revenues) increased 20% year over year to $264 million. Global Careers bookings increased 22% year over year. Currency translation had an $8 million positive impact on bookings in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Loss At BioMarin Wider-Than-Expected

Posted: 31 Oct 2011 11:35 AM PDT

BioMarin Pharmaceutical Inc.'s (NASDAQ:BMRN) third quarter 2011 loss of $0.14 per share (excluding debt conversion expense) was wider than the Zacks Consensus loss estimate of $0.11 per share. The wider-than-expected loss was attributable to increased operating expenses which more than mitigated the rise in revenues. The company suffered an adjusted loss of approximately $0.04 per share in the year-ago quarter.
Total revenues climbed approximately 16% to $113.4 million in the reported quarter. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Reaches A Level For Profit Takers

Posted: 31 Oct 2011 11:33 AM PDT

The GBPUSD squeezed higher and higher today but finally found some sellers against topside trendline resistance at the 1.6157 level (high reached 1.6164 – see chart above). The move higher took out the high from last week at the 1.6051 level.  The failure to extend higher has balanced the market a bit. However, a move below the 1.61157 level will be eyed for confirmation that the downside has further potential. This level represents the 38.2% of the last leg higher in the pair (see … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Earnings Picture

Posted: 31 Oct 2011 11:30 AM PDT

Third quarter earnings results are pouring in. Total net income growth has been far higher than expected, although the median surprise and the ratio of positive surprises to disappointments has been about normal. Thus I would characterize the season as good, but not great.

We have 324, or 64.8%, of the S&P 500 firms reporting so far. That sort of understates things a bit, since those 64.8% of firms represent 75.7% of all expected earnings for the quarter. That is provided that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Volumes Contract, DPL Misses

Posted: 31 Oct 2011 11:30 AM PDT

Diversified energy utility, DPL Inc. (NYSE:DPL) reported third quarter 2011 financial results. Earnings for the quarter were 70 cents per share, below the Zacks Consensus Estimate of 76 cents per share and year-ago earnings of 74 cents per share. This was primarily the result of lower sales volumes.
On a reported basis the company clocked earnings per share of 58 cents versus 74 cents in the year-ago quarter. The variance of 12 cents between adjusted and reported earnings in the reported quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cerner Meets Earnings, Beats Revs

Posted: 31 Oct 2011 11:20 AM PDT

Leading healthcare information technology ("HCIT") solutions provider Cerner Corp (NASDAQ:CERN) reported third quarter fiscal 2011 earnings per share of 45 cents, meeting the Zacks Consensus Estimate and exceeding the year-ago earnings of 36 cents per share. Net income rose 29.5% year over year to $78.8 million (or 45 cents per share) due to buoyant bookings. The stock was up 1.88% to $66.72 in after-hours trading on October 27.
Revenues
Revenues for the third quarter rose 24% year over year to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Grupo TMM Sees Utilization Well Above Average

Posted: 31 Oct 2011 11:15 AM PDT

Grupo TMM sees Utilization Well Above Average and a Net Debt Reduction
Ken Nagy, CFA

On October 26, 2011, Grupo TMM (TMM), a Mexican intermodal transportation and logistics Company, reported financial results for its fiscal 2011 third quarter, ended September 30, 2011. Investors should note a few significant items in the quarter.

    The firm was free cash flow positive on both a sequential basis as well as over a nine-month time period.
    Sequential … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

France Telecom Hit By Weak Sales

Posted: 31 Oct 2011 11:15 AM PDT

France Telecom (NYSE:FTE) has reported third quarter 2011 consolidated revenue of €33.848 billion ($47.919 billion), down 1.6% year over year. Excluding regulatory measures, revenues barely nudged up 0.1% year over year due to a lack of momentum in mobile revenues because of weak mobile device sales.
Adjusted EBITDA dropped 5.4% to €11.611 billion ($16.44 billion), resulting in EBITDA margin of 34.3%, down 140 basis points from the year-ago quarter.
Revenues by Key Markets
Revenues in France, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Humana Beats, Ups Guidance

Posted: 31 Oct 2011 11:05 AM PDT

Humana Inc.'s (NYSE:HUM) third-quarter operating earnings came in at $664.8 million or $2.54 per share, surpassing the Zacks Consensus Estimate of $2.02 per share. The figure also compares favorably with earnings of $538.5 million or $2.01 in the year-ago quarter.
The operating earnings exclude the positive impact of 13 cents per share in the third quarter of 2011 and 31 cents per share in the prior year quarter as a result of favorable development of prior-period medical claims reserves.
On a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NuStar Reports Strong Quarter

Posted: 31 Oct 2011 11:05 AM PDT

San Antonio-based publicly traded partnership NuStar Energy L.P. (NS) announced strong third quarter results, driven by higher operating income from the transportation and storage businesses.
The owner and operator of crude oil and refined products pipelines and storage facilities reported earnings per unit (EPU) of 92 cents, comfortably surpassing the Zacks Consensus Estimate of 69 cents and also exceeding the year-ago profit of 90 cents.
Revenue of $1,824.4 million surpassed our expectation … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Beat For AstraZeneca

Posted: 31 Oct 2011 10:55 AM PDT

AstraZeneca (NYSE:AZN) reported third-quarter 2011 core adjusted earnings of $1.71 per American Depositary Share (ADS), above the Zacks Consensus Estimate of $1.68 and the year-ago earnings of $1.50.
Earnings were driven by share repurchases, lower tax rate and lower net finance expense. Including one-time items, earnings came in at $2.56, up 140% (at constant exchange rates [CER]) year-over-year, benefiting from the Astra Tech sale.
Revenues
AstraZeneca's quarterly revenues slid 2% (at CER) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Axle Beats By A Penny

Posted: 31 Oct 2011 10:55 AM PDT

American Axle and Manufacturing Inc. (NYSE:AXL) posted a decline in profit to $38.3 million or 50 cents per share in the third quarter of the year from $38.8 million or 52 cents per share in the third quarter of 2010 (all excluding special items). However, the profit was higher than the Zacks Consensus Estimate by a penny.
Net sales in the quarter increased inched up 5% to $647.6 million from $618.2 million in the third quarter of 2010. 
American Axle's content-per-vehicle – dollar value … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Loews Lags Zacks Estimate

Posted: 31 Oct 2011 10:55 AM PDT

Loews Corporation (NYSE:L) reported its third-quarter 2011 adjusted net income of 44 cents per share, lagging the Zacks Consensus Estimate by 10 cents. However, results were far ahead of 5 cents earned in the prior-year quarter. Adjusted net income was $177 million, substantially higher than earnings of $19 million in third-quarter 2010.
Including net investment losses of $15 million, Loews reported net income of $162 million or 40 cents per share, higher than $36 million or 9 cents per share in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Whole Foods

Posted: 31 Oct 2011 10:55 AM PDT

Whole Foods Market Inc. (WFM), one of the leading natural and organic foods supermarkets, is scheduled to report its fourth-quarter 2011 financial results after the bell on Wednesday, November 2, 2011. The current Zacks Consensus Estimate for the quarter is 41 cents a share. The Zacks Consensus estimates revenue at $2,360 million for the quarter under discussion.
Third-Quarter 2011, a Synopsis
Whole Foods Market posted better-than-expected third-quarter 2011 results on the heels of strong … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Earnings And Employment

Posted: 31 Oct 2011 10:35 AM PDT

Earnings Preview 10/28/11

The flood of earnings reports continue, and the coming week will be much busier. A total of 1,005 firms are scheduled to report, including 112 of the S&P 500.

The firms reporting next week include: Allstate (NYSE:ALL), Clorox (NYSE:CLX), Duke Energy (NYSE:DUK), Emerson Electric (NYSE:EMR), Kraft Foods (NYSE:KFT), Kellogg's (NYSE:K), MasterCard (NYSE:MA), Pfizer (NYSE:PFE), and Time Warner (NYSE:TWX).

It will also be a heavy week for economic data. We have both of the ISM indexes. We … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sunoco Logistics Beats Overall

Posted: 31 Oct 2011 10:35 AM PDT

Crude oil pipelines and terminals operator Sunoco Logistics Partners L.P. (NYSE:SXL) announced impressive third-quarter 2011 results, driven by well performing crude pipelines and terminals facilities.
The partnership's diluted earnings per unit (EPU) came in at $2.34, striding past the Zacks Consensus Estimate of $1.60 and the year-ago profit of $1.64.
Revenues of $2,850.0 million shot up 51.4% from $1,883.0 million in the third quarter of 2010 and also beat our projection by 35.2%.
Quarterly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Shutterfly Beats, Loss Widens

Posted: 31 Oct 2011 10:20 AM PDT

Shutterfly Inc. (NASDAQ:SFLY) has reported adjusted third-quarter 2011 loss of 15 cents per share, handily beating the Zacks Consensus Estimate of a loss of 37 cents but deteriorating from the year-earlier loss of 8 cents.
On a GAAP basis, the loss came in at 29 cents versus 17 cents in comparable quarter prior year and was far better than the company's guidance range of a loss of 44 cents to 32 cents per share. The better-than-expected earnings were driven by strong demand for photo-book along … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“A Very Good October…but Can We Sustain Rally”

Posted: 31 Oct 2011 10:20 AM PDT

10/31/11 Mogavero, Lee & Co.’s Doreen Mogavero weighs in on today’s decline in US stocks and the surge in USD/JPY. As October draws to a close, the outlook for the rest of the year is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CNH Global Easily Beats

Posted: 31 Oct 2011 10:00 AM PDT

CNH Global N.V. (CNH) posted a net income before restructuring and exceptional items of $272 million or $1.13 per share in the third quarter of 2011, up from a net income of $102 million or 43 cents in the year-ago quarter.  The earnings results easily beat the Zacks Consensus Estimate of 82 cents per share.
Net sales of Equipment, excluding revenue from Financial Services were $4.61 billion, up 30% from the year-ago quarter, as agricultural equipment markets continue to perform well and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dollar Rallies On Yen Intervention & Eurozone Debt Crisis Concerns

Posted: 31 Oct 2011 10:00 AM PDT

10/31/11 The US dollar started the week in rally mode, posting strong gains against the yen on intervention by Japanese officials to weaken the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tullow Oil Renews Interest In Mauritania With New Production And Exploration Plans

Posted: 31 Oct 2011 04:05 AM PDT

Oil and gas group Tullow Oil (LON:TLW) and its joint venture partners have agreed a new set of Production Sharing Contract (PSC) arrangements with the Government of Mauritania. The move will mean that Tullow can progress the appraisal and development of the existing Banda, Tevet and Tiof discoveries and pursue exploration in a new contract area covering 10,725 sq km.

The development was welcomed by analysts because of its potential to revive Eamp;P activity in a region where the excitement … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

How China Drives The Global Economy

Posted: 30 Oct 2011 10:00 PM PDT

Unless investors get spooked today during Halloween trading, the S&P 500 Index will post its second-best month since the post-World War II era, according to a report published by GaveKal Research. The last time markets rallied so strongly, Gerald Ford had recently moved into the White House and Muhammad Ali "rumbled in the jungle" with George Foreman.
A few weeks back, we noted that Citigroup's Panic/Euphoria model signaled an extremely negative sentiment level, indicating that higher … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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