Thursday, February 2, 2012

DailyMarkets.com - Cardinal 2Q Tops, Profit Rises

DailyMarkets.com - Cardinal 2Q Tops, Profit Rises

Cardinal 2Q Tops, Profit Rises

Posted: 02 Feb 2012 11:50 AM PST

Leading distributor of pharmaceuticals and medical supplies Cardinal Health (NYSE:CAH) posted second-quarter fiscal 2012 (ended December 31) adjusted (excluding one-time charges and gains) earnings per share from continuing operations of 81 cents, surpassing the Zacks Consensus Estimate of 76 cents and the year-ago earnings of 73 cents per share.
Earnings from continuing operations (as reported) increased about 23% year over year to $264.4 million (or 76 cents a share).
Revenues
Sales in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ryder Reports In-line EPS, Revs Up

Posted: 02 Feb 2012 11:40 AM PST

Ryder System Inc. (NYSE:R), the world’s largest provider of integrated logistics and transportation solutions, reported fourth quarter 2011 adjusted earnings of 97 cents in line with the Zacks Consensus Estimate and improved 49% from 65 cents in the year-ago quarter.
The year-over-year growth reflected accelerated organic growth in commercial rental and Supply Chain Solutions alongside business acquisitions gain, improved asset utilization and higher used vehicle sales. Adjusted earnings exclude … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Assurant Beats On Higher Premium

Posted: 02 Feb 2012 11:40 AM PST

Assurant Inc. (AIZ) reported fourth quarter 2011 operating earnings of $1.65 per share, beating the Zacks Consensus Estimate by a good 28 cents and also significantly ahead of the prior-year quarter's earnings of $1.08 per share. The outperformance was the result of significant contributions from Assurant Specialty Property, Assurant Health and Assurant Solutions, party offset by lower operating income from Assurant Employee Benefits. Earnings also benefited from a lower share count.
Total … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Revenue Declines At Unisys

Posted: 02 Feb 2012 11:30 AM PST

Unisys Corporation (NYSE:UIS) reported revenues of $985 million in the fourth quarter, down 6% year over year. Foreign currency fluctuations did not have much of an impact on revenue in the quarter.
About half of the decline was due to lower revenue in the company's U.S. Federal business and the remainder was primarily due to lower third-party equipment sales in the rest of the business.
Revenue from the U.S. Federal business declined approximately 18% in the quarter due to the termination of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kellogg Exceeds, Affirms Outlook

Posted: 02 Feb 2012 11:25 AM PST

Kellogg Company (NYSE:K) has posted fourth-quarter 2011 earnings of 64 cents per share, beating the Zacks Consensus Estimate by a penny. The earnings also exceeded the prior-year earnings of 51 cents per share by 25%. In fiscal 2011, earnings of $3.38 per share also surpassed both the Zacks Consensus Estimate by one cent and the prior-year estimate by 8 cents per share, respectively.
Kellogg's results were driven by strong revenue growth and increased focus on investment in brand building and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

National Oilwell Beats Overall

Posted: 02 Feb 2012 11:20 AM PST

Oilfield services company National Oilwell Varco (NYSE:NOV) reported stellar fourth quarter and full year 2011 results, helped by robust activity levels across all business segments and benefits from the Ameron acquisition.
Earnings per share (excluding transaction charges) came in at $1.37, comfortably above the Zacks Consensus Estimate of $1.30 and the year-ago profit of $1.05.
For full-year 2011, the company earned $4.77 per share, up 16.6% from $4.09 in the prior year. The reported results … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hain Crafts New Highs In 2Q

Posted: 02 Feb 2012 11:15 AM PST

Rise in consumption, innovative marketing and expanded distribution facilitated The Hain Celestial Group Inc. (NASDAQ:HAIN), which distributes, markets and sells various natural and organic foods as well as personal care products, to register historically highest sales and EPS numbers.
The second-quarter earnings of 52 cents a share came ahead of the Zacks Consensus Estimate of 49 cents, and jumped 33.3% from 39 cents delivered in the prior-year quarter.
However, on a reported basis, including … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Shutterfly Surpasses Zacks Estimate

Posted: 02 Feb 2012 11:05 AM PST

Shutterfly Inc. (NASDAQ:SFLY) has reported adjusted fourth-quarter 2011 of $1.48 per share, handily beating the Zacks Consensus Estimate of 82 cents and improving from the year-earlier earnings of $1.18.
On a GAAP basis, the earnings came in at 97 cents versus $1.09 in comparable quarter prior year and were slightly less than the company's guidance range of 98 cents to $1.03 per share. In full-fiscal 2011, earnings were 40 cents versus 59 cents in 2010.
In the quarter under review, net revenue … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FBIZ: Debt Issue And Board Changes

Posted: 02 Feb 2012 10:50 AM PST

FBIZ: Debt Issue and Board Changes  
Ann Heffron, CFA

First Business Financial Services, Inc. (FBIZ) made several announcements On January 31, 2012 concerning changes to its Board of Directors and the issuance on a new subordinated debt issue.

On January 30, 2012, FBIZ increased the size of its Board of Directors from a fixed nine members to a range of seven to eleven members. The following day, the Board was increased to ten members to accommodate the addition of Mr. John J. Harris to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A First For SWIPES

Posted: 02 Feb 2012 10:50 AM PST

A First for SWIPES
Ken Nagy, CFA

Arotech Corporation (ARTX), a provider of defense and security products, reported that its Battery and Power Systems Division received its first ever order, of over 350 systems, for its new SWIPES (Soldier Worn Integrated Power Equipment System) battery program.

The order will service the U.S. Army REF (Rapid Equipping Force) and PEO Soldier, PM Soldier Warrior.

REF provides specialized and specific capabilities to Army units positioned globally while PEO … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Equity Residential Reports In Line

Posted: 02 Feb 2012 10:50 AM PST

Equity Residential (NYSE:EQR), a leading real estate investment trust (REIT), reported fiscal 2011 fourth quarter funds from operations (FFO) of $201.4 million or 64 cents per share, compared to $136.4 million or 45 cents per share in the year-ago 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 fourth quarter 2011 FFO included certain non-recurring items, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AvalonBay Misses FFO Estimates

Posted: 02 Feb 2012 10:40 AM PST

AvalonBay Communities Inc. (NYSE:AVB), a leading real estate investment trust (REIT), reported fiscal 2011 fourth quarter funds from operations (FFO) of $113.4 million or $1.19 per share, compared with $86.8 million or $1.01 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 quarterly FFO missed the Zacks Consensus Estimate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Willis: “FB IPO – Positive For Equities”

Posted: 02 Feb 2012 10:30 AM PST

02/02/12 Sunrise Securities’ Ben Willis discusses the latest jobs data, earnings and EU developments. Willis also sheds light on the Facebook IPO filing and says it could “change the psyche of American … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PX Sells Business & Issues Notes

Posted: 02 Feb 2012 10:20 AM PST

The leading industrial gas supplier, Praxair Inc. (NYSE:PX) recently executed a deal with California-based FM Industries, Inc, whereby the former sold its advanced components business to the latter for an undisclosed amount.
The business, in question, generated roughly $28 million in fiscal year 2011 and employs approximately 70 people. It designs, engineers, manufactures and supplies electrostatic chucks (ESCs) and critical chamber components for semiconductor processing equipment. As per the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NY Times Beats, Profit Drops

Posted: 02 Feb 2012 10:15 AM PST

The New York Times Company (NYSE:NYT) recently posted better-than-expected fourth-quarter 2011 results. The quarterly earnings of 45 cents a share beat the Zacks Consensus Estimate of 42 cents, but dropped 2.2% from 46 cents earned in the prior-year quarter.
On a reported basis, including one-time items, quarterly earnings came in at 39 cents, down 11.4% from 44 cents a share delivered in the year-ago quarter.
Let's Dig Deep
The quarter reflects favorable response to the digital subscription … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Beat For Allergan

Posted: 02 Feb 2012 10:05 AM PST

Allergan, Inc. (AGN) reported fourth quarter 2011 earnings of $1.00 per share, a penny above the Zacks Consensus Estimate and above the guidance range of 97-99 cents per share. While earnings increased 13.6% from the year-ago quarter, revenues increased 7.1% to $1,402.3 million. Revenues missed the Zacks Consensus Estimate of $1,408 million.
Fiscal 2011 earnings increased 15.5% from the year-ago period to $3.65 per share. Full year earnings were a penny above the Zacks Consensus Estimate and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Patriot Coal Missed The Mark

Posted: 02 Feb 2012 10:05 AM PST

Coal producer Patriot Coal Corporation (NYSE:PCX) posted a loss of 42 cents per share for the fourth quarter 2011 compared with earning of 8 cents per share in the year-ago quarter. The loss was significantly wider than the Zacks Consensus Estimate of a loss of 27 cents per share.
In 2011, Patriot reported a loss of $1.26 per share versus a loss of 53 cents per share reported in 2010. However, the result of the company was better than the Zacks Consensus Estimate of a loss of $1.51 per share by 25 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mixed 2Q For Sara Lee

Posted: 02 Feb 2012 10:05 AM PST

Sara Lee Corp. (NYSE:SLE) registered decent second quarter 2012 earnings of 27 cents per share that climbed 28.6% from 21 cents posted in the year-ago period. Earnings also exceeded the Zacks Consensus Estimate of 25 cents by 8%.
However, including the charges, the company had to suffer a loss due to impairment charges and gains on the sale of businesses were $170 million, primarily resulting from the renegotiation of global IT contracts and spin-related advisory fees. Sara Lee's total commodity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Int’l Paper’s EPS Tops, Sales Misses

Posted: 02 Feb 2012 09:55 AM PST

International Paper Co. (NYSE:IP) reported fourth quarter adjusted EPS of 66 cents, a 3% drop from the prior-year quarter but outperforming the Zacks Consensus Estimate of 61 cents. After including special items EPS in the quarter stood at 59 cents compared with 73 cents in the prior year quarter.
Net sales were $6.37 billion, versus $6.53 billion during the year-ago quarter, missing the Zacks Consensus Estimate of $6.46 billion.
Cost and Margins
Adjusted cost of goods sold amounted to $4.66 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Misses Estimates

Posted: 02 Feb 2012 09:50 AM PST

The Dow Chemical Company (NYSE:DOW) earned 25 cents per share in the fourth quarter of 2011, missing the Zacks Consensus Estimate of 32 cents per share as well as earnings of 47 cents per share in the prior-year quarter. However, including one-time charges, the company reported a loss of 2 cents per share compared with earnings of 37 cents per share in the year-ago quarter.
For the full-year 2011, earnings were $2.54 per share, up 29% compared with $1.97 per share in 2010. Full-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Starwood Continues To Shine

Posted: 02 Feb 2012 09:50 AM PST

Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) has reported fourth-quarter 2011 adjusted earnings from continuing operations of 71 cents, which surpassed the Zacks Consensus Estimate of 57 cents as well as the year-ago level of 52 cents. In full-fiscal 2011, earnings were $1.93 versus $1.25 in the year-ago period.
On a reported basis, earnings from continuing operations were 80 cents compared to $1.08 in the fourth quarter of 2010. In full-fiscal 2011, earnings were $2.57 versus $1.63 in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Concur Below Estimate

Posted: 02 Feb 2012 09:50 AM PST

Concur Technologies (NASDAQ:CNQR) reported first-quarter fiscal 2012 loss per share from continuing operations of 2 cents, below the Zacks Consensus Estimate of earnings per share of 9 cents.  Prior-year earnings from continuing operation was 8 cents.
The company reported non-GAAP earnings per share of 32 cents for the quarter compared with 30 cents in prior-year period.
Revenue
Total revenue was $100.4 million, an increase of 25% year over year. Revenue in the quarter was driven by investments … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Risk Appetite Revived On Jobs Data

Posted: 02 Feb 2012 09:45 AM PST

02/02/12 Risk appetite returned this afternoon as the dollar pared early gains on a drop in US jobless claims to its lowest lavel in nearly 4 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pulte Group Tops Estimates

Posted: 02 Feb 2012 09:40 AM PST

Pulte Group, Inc. (NYSE:PHM) reported a profit of $14 million or 4 cents per share in the fourth quarter of 2011 compared with a loss of $165 million or 44 cents per share in the same quarter of 2010. Before special items, the company's profit stood at $41 million or 11 cents per share during the quarter, exceeding the Zacks Consensus Estimate of 8 cents per share and the year ago profit of $6 million or 1 cent per share.
Pulte's revenues rose marginally by 1% to $1.2 billion from the fourth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Allstate Tops In 4Q On Low CAT Loss

Posted: 02 Feb 2012 09:35 AM PST

Allstate Corporation's (NYSE:ALL) fourth-quarter 2011 operating earnings of $1.48 per share came in substantially higher than the Zacks Consensus Estimate of 94 cents and the year-ago quarter's earnings of 50 cents per share.
Results for the quarter reflected lower catastrophe (CAT) losses, which further led to reduced claims expenses coupled with higher premiums. These were offset by lower investment income and policies-in-force in Property-Liability insurance.  However, prudent capital … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Correcting/consolidating

Posted: 02 Feb 2012 09:22 AM PST

The GBPUSD has rotated back lower and looks toward target support at th 1.57936 level (38.2% and the lower trendline at the 1.5789.  Look for buyers on the dip (against the support area).  A move below each would open the door for further selling in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Looks To Test Support

Posted: 02 Feb 2012 09:22 AM PST

CME Misses Est., Hikes Dividend

Posted: 02 Feb 2012 09:20 AM PST

CME Group Inc. (NASDAQ:CME) reported its fourth-quarter 2011 operating earnings per share of $3.55, quite below the Zacks Consensus Estimate of $3.67 and $3.77 reported in the year-ago quarter. Operating net income slipped 6.8% to $235.6 million.
However, the reported net income soared up to $745.9 million or $11.25 per share from $196.2 million or $2.93 per share. This included net adjustments of $510.3 million related to a non-cash benefit from a tax adjustment primarily due to a revaluation of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BOK Financial Lags Ests, Rev Down

Posted: 02 Feb 2012 09:05 AM PST

BOK Financial Corporation's (NASDAQ:BOKF) fourth-quarter 2011 earnings came in at 98 cents per share, below the Zacks Consensus Estimate by 12 cents. Results were, however, above 86 cents per share in the prior-year quarter, although it missed the prior quarter’s earnings of $1.24 per share.
The earnings results primarily reflect a decrease in net interest revenue and lower fees and commissions sequentially, thereby leading to reduced top-line growth. However, these negatives were partially offset … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“Administration Officials Don’t Really Want Housing Program To Work”

Posted: 02 Feb 2012 08:57 AM PST

I find myself in a daily battle not to write cynically about our economy and the political dynamic within our nation.
Just this morning I find myself wanting to rail on the Obama administration's latest efforts to support housing when past efforts have been such enormous disasters. How enormous? I cannot help myself…….
Well, as the FT highlighted the other day in writing, Foreclosure Prevention Plan Has Limited Impact,

The White House has rolled out programmes to forgive borrowers' … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ball Authorizes Buyback

Posted: 02 Feb 2012 08:50 AM PST

 
Ball Corporation (NYSE:BLL) announced to buyback an approximate $200 million of common stock. It has opted for an accelerated stock repurchase program with JPMorgan Chase & Co. (NYSE:JPM) in a privately negotiated transaction.
Ball Corp. would repurchase the stocks using cash on hand and available borrowings. The transaction would reduce its common stock approximately by 5.1 million shares.
Ball Corp. continues to enhance shareholders value through repurchase and payment of dividends to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Acxiom Beats Estimates

Posted: 02 Feb 2012 08:35 AM PST

Acxiom Corporation (NASDAQ:ACXM) reported Non-GAAP net income of $17.1 million, rising 12.2% year over year and 9.3% sequentially. Diluted EPS came in at 22 cents compared to 19 cents in the previous year quarter, beating our Zacks Consensus Estimate of 20 cents.
Revenues
Net sales came in at $281 million for the third quarter of fiscal 2012, decreasing 2% annually and 6.3% sequentially.
The Marketing and Data Services segment sales marginally fell about 0.4% year over year to $188 million. This was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Pause After Mixed Earnings, Jobs Data

Posted: 02 Feb 2012 08:30 AM PST

02/02/12 Wall Street digested the latest earnings and US jobs data. Ahead of the January employment report, weekly jobless claims declined more than … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Green Mountain Brews Profits

Posted: 02 Feb 2012 08:20 AM PST

Green Mountain Coffee Roasters (NASDAQ:GMCR) reported robust first-quarter 2012 results with its adjusted earnings of 60 cents per share, which surged 233% year on year from 18 cents in the prior-year quarter. The adjusted earnings also exceeded the Zacks Consensus Estimate of 36 cents per share.
The adjusted earnings exclude the acquisition-related expenses, expenses related to SEC inquiry, amortization of identifiable intangibles, and gain on sale of subsidiary. Including these one-time items, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sour Crude?

Posted: 02 Feb 2012 08:18 AM PST

Thursday, February 2, 2012
Crude Oil fundamentals have turned a bit sour in recent days. The US remains well supplied and there are questions about automobile and truck fuel demand. There is also concern that the weak ADP job number on Wednesday may be a precursor to a disappointing non-farm payroll number tomorrow. Technically, Crude Oil is in a vulnerable position. If prices break through the 95.00 level on the downside, bearish momentum may accelerate. If the market is able to hold 95.00, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Toward Topside Trendline

Posted: 02 Feb 2012 08:18 AM PST

Was it the comment that the dollar is a safe haven currency that sent the dollar lower?  Perhaps.  US interest rates are low because yes there are buyers due to increased money printing and perhaps because investors have no choice but overall the dollar is down.
The EURUSD is moving toward the topside trendline at the 1.3191 level.  Above that the 1.3211 and 1.3226 become targets for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mixed 4Q For Roper

Posted: 02 Feb 2012 08:05 AM PST

Roper Industries Inc. (ROP) posted mixed fourth quarter 2011 results. The company reported earnings of $1.23 per share, up 11.8% year over year and surpassed the Zacks Consensus Estimate by a couple of cents.
Earnings per share (EPS) also beat the high end of management's guided range of $1.18 to $1.22. The strong results were primarily driven by solid revenue growth and margin expansion in the quarter.
Revenue
Roper's total revenue increased 8.8% year over year of $739.2 million in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Steady At $98

Posted: 02 Feb 2012 07:00 AM PST

02/02/12 Front month crude prices were trading steady this morning around $98 a barrel as the euro lost some ground while the dollar rose on improved jobs … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Struggle For Direction

Posted: 02 Feb 2012 01:15 AM PST

02/02/12 The global markets are trading mixed Tuesday morning as strong US jobs data, strong demand at European debt auctions, and spiked market interest on Facebook’s IPO filing kept investors … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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