Thursday, February 16, 2012

DailyMarkets.com - Exxon Stays Neutral

DailyMarkets.com - Exxon Stays Neutral

Exxon Stays Neutral

Posted: 16 Feb 2012 12:05 PM PST

We have maintained our Neutral recommendation on the world's largest publicly traded oil company, ExxonMobil Corporation (NYSE:XOM), following its fourth quarter 2011 earnings.
The company reported lower-than-expected fourth quarter 2011 earnings, mainly due to the weak production. Hence, we remain skeptical on the stock due to the company's relatively low volume growth profile in the fourth quarter, which declined almost 9% year over year. We see ExxonMobil struggling to consistently increase … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Timberland Drives V.F. Corp’s 4Q

Posted: 16 Feb 2012 12:05 PM PST

V.F. Corporation (NYSE:VFC) reported fourth-quarter 2011 adjusted earnings of $2.32 per share, striding ahead of the Zacks Consensus Estimate of $2.30. The result also surpassed earnings of $1.78 per share in the prior-year quarter. The robust increase in earnings per share was primarily driven by strong top-line growth and a contribution of 34 cents per share from the Timberland acquisition.
On a reported basis, the company's earnings came in at $2.28 per share compared with 49 cents registered … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: LabCorp

Posted: 16 Feb 2012 12:00 PM PST

The announcementof Laboratory Corporation of America Holdings' (NYSE:LH) fourth quarter and fiscal 2011 results as on February 10, 2012, has led analysts to reduce their estimates for the forthcoming period.
Fourth Quarter Highlights
LabCorp reported an adjusted EPS of $1.56 (excluding amortization, restructuring and other special charges) for the fourth quarter of fiscal 2011, higher than the Zacks Consensus Estimate of $1.53 and the previous year’s adjusted EPS of $1.46. For the fiscal, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DENTSPLY 4Q EPS Misses, Sales Top

Posted: 16 Feb 2012 12:00 PM PST

Leading dental products maker DENTSPLY International's (NASDAQ:XRAY) fourth-quarter fiscal 2011 adjusted (excluding one-time items including acquisitions/restructuring charges, amortization of intangibles and tax related adjustments) earnings per share of 51 cents missed the Zacks Consensus Estimate by a penny and was just shy of the year-ago adjusted earnings of 52 cents.
Profit (attributable to the company), as reported, slid 40% year over year to $40.6 million (or 28 cents a share) in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Progress Misses In Every Way

Posted: 16 Feb 2012 12:00 PM PST

Power utility company Progress Energy Inc. (NYSE:PGN) announced its fourth-quarter 2011 operating earnings of 39 cents per share, falling short of the Zacks Consensus Estimate of 52 cents. The results of the company were 6 cents lower than year-ago earnings.
The contribution to operating earnings from Progress Energy Carolinas was 30 cents, while Progress Energy Florida chipped in with 26 cents. Ongoing after-tax expenses from Corporate and Other Business were 17 cents a share in the reported … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kinross Misses Estimate

Posted: 16 Feb 2012 12:00 PM PST

Gold miner Kinross Gold Corporation (NYSE:KGC) reported an adjusted net income of $196.6 million or 17 cents per share in the fourth quarter of 2011, above last year's $158.5 million or 14 cents per share, missing the Zacks Consensus Estimate of 22 cents per share.
For the full year, adjusted net earnings were $871.8 million, or 77 cents per share compared with $486.4 million, or 59 cents per share, missing the Zacks Consensus Estimate 81 cents per share.
GAAP net loss was $2.8 billion, or $2.45 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NVIDIA Beats On EPS, Outlook Bleak

Posted: 16 Feb 2012 11:25 AM PST

NVIDIA Corp. (NASDAQ:NVDA) reported fourth quarter 2012 adjusted earnings per share of 21 cents, surpassing the Zacks Consensus Estimate of 19 cents. 
Revenues
The company reported total revenue of $953.2 million in the quarter, down 10.6% sequentially but up 7.5% from $886.4 million in the year-ago quarter.
The reported revenue was mostly in line with the company's pre-announcement in January. Nvidia forecasted that the quarter would be lackluster on weak performance of its Graphics … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PG&E Beats, Reaffirms Guidance

Posted: 16 Feb 2012 11:25 AM PST

PG&E Corporation's (NYSE:PCG) operating earnings per share of 89 cents in the fourth quarter of fiscal 2011 went past the Zacks Consensus Estimate of 85 cents and the year-ago number of 70 cents.
In the reported quarter, the positive variance of 19 cents year over year was attributable to an increase in rate base earnings (10 cents), absence of nuclear refueling outage (6 cents), absence of SmartMeter installation costs (5 cents), lower litigation & regulatory matters (4 cents) and lower … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DIRECTV Beats On Subscriber Growth

Posted: 16 Feb 2012 11:25 AM PST

DIRECTV (NASDAQ:DTV), the largest satellite TV operator of the U.S., delivered excellent fourth quarter 2011 financial results today before the opening bell. The solid result was primarily attributed to the combined effect of strong net customer additions, increased average revenue per user (ARPU) in the U.S. segment and significant margin expansion.
In synergy with the encouraging performance, the company announced a new $6 billion share buyback plan.
Total revenue in the reported quarter came in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Perry’s Pre Results Miss Guidance

Posted: 16 Feb 2012 11:25 AM PST

Perry Ellis International Inc. (NASDAQ:PERY) recently posted disappointing preliminary operating results for its fourth quarter and fiscal 2012. For the fourth quarter, adjusted earnings per share are expected in the range of 35–38 cents while the company's revenue is expected to increase 11% year over year to $229 million.
For full-fiscal 2012, revenue is expected to approximate $980 million, up 24% year over year and earnings per share are projected to range between $1.91 and $1.94. This was a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Waste Management Beats Estimates

Posted: 16 Feb 2012 11:15 AM PST

Waste Management Inc. (NYSE:WM) recorded a 5% increase in EPS to 63 cents (excluding special items) in the fourth quarter from 60 cents in the year-ago quarter. The company outperformed the Zacks Consensus Estimate of 60 cents.
Including after-tax charge for a litigation loss, asset impairments, restructuring, results of the acquired Oakleaf operations and related integration costs, EPS in the quarter stood at 58 cents. Including special items such as after-tax charge for litigation; benefit from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CBS Reports Better Than Expected

Posted: 16 Feb 2012 11:15 AM PST

Growth in high margin revenues and effective cost control measures facilitated CBS Corporation (NYSE:CBS) to post better-than-expected fourth-quarter 2011 bottom-line result. The quarterly earnings of 57 cents a share surpassed the Zacks Consensus Estimate of 53 cents and jumped 23.9% from 46 cents earned in the year-ago quarter.
Key Numbers
Revenue inched down 3.1% year over year to $3.78 billion, which is quite a healthy number as the reported quarter lacked significant political advertising … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lackluster 4Q For Eni

Posted: 16 Feb 2012 11:15 AM PST

Eni SpA's (NYSE:E) adjusted fourth quarter 2011 earnings per ADR of $1.16 (€0.43 per share) experienced a downfall of 9.4% from $1.28 per ADR (€0.47 per share) earned in the year-earlier quarter. However, full year 2011 earnings of $5.35 per ADR (€1.92 per share) improved 6.2% from the year-ago level of $5.04 per ADR (€1.90 per share).
2011 performance was buoyed by significant achievements from the Exploration & Production segment. However, the positives were partially mitigated by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kellogg Snatches Pringles Deal

Posted: 16 Feb 2012 11:15 AM PST

Kellogg Company (NYSE:K) cleverly sneaked in and made good use of the fuss between Procter & Gamble Company (NYSE:PG) and Diamond Foods Inc (NASDAQ:DMND) as it grabbed the Pringles deal from P&G for $2.77 billion. The transaction is expected to close by the end of June this year.
P&G was supposed to sell its Pringles brand of potato snack to Diamond Foods for $2.4 billion. However, the retail giant refrained from handing over its brand after Diamond Foods' reputation was stigmatized with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Teva Delivers In 4Q

Posted: 16 Feb 2012 10:50 AM PST

Teva Pharmaceutical Industries' (NASDAQ:TEVA) fourth quarter earnings of $1.59 per American Depository Share (ADS) were a penny above the Zacks Consensus Estimate and 27.2% above the year-ago earnings.
Fourth quarter revenues increased 28.5% to $5.7 billion, just above the Zacks Consensus Estimate of $5.6 billion.
Full year earnings increased 9.5% to $4.97 per share, in line with the Zacks Consensus Estimate. Revenues increased 13.6% to $18.3 billion, in line with the Zacks Consensus Estimate.
The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Progressive Reports Lower Earnings

Posted: 16 Feb 2012 10:50 AM PST

Progressive Corp.'s (NYSE:PGR) earnings per share for January 2012 were 12 cents, down 28% year over year but flat with the last month. Net income for the month was $75 million, down 33% year over year and 2% over December 2011.

The company recorded net premiums of $1.46 billion during January 2012, up 6% from $1.38 billion in January 2011 and44% from $1.01 billion in December 2011. Net premiums earned were $1.46 billion, up 5% from $1.39 billion in the year-ago period but down 25.7% from $1.16 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Keating: “Be Mindful Of Greece”

Posted: 16 Feb 2012 10:40 AM PST

02/16/12 James E. Coffey Securities’ Gregory Keating discusses the rebound in US equities and the better-the-expected economic data releases. Optimism over a second bailout for Greece also helped to boost … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aflac Swaps Senior Notes

Posted: 16 Feb 2012 10:20 AM PST

Aflac Inc. (NYSE:AFL) recently announced that it has entered into agreements with three separate parties to swap the previously issued senior notes worth $750 million into yen currency.
The first set of five-year $400 million senior notes which contained a fixed coupon rate of 2.65% was swapped for a coupon rate of 1.22% at yen 30.9 billion.
Now, the second set of ten-year $350 million senior notes, with a fixed coupon rate of 4.0% was converted into a value of yen 27.0 billion with a coupon rate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Slides Below $1.30 On Greece

Posted: 16 Feb 2012 05:15 AM PST

02/16/12 Growing worries over Greece’s bailout has helped spark a surge in risk aversion to the point of where the euro has dropped to trade below … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lower Defaults For Discover And AmEx

Posted: 16 Feb 2012 10:05 AM PST

On Wednesday, card companies including Discover Financial Services (NYSE:DFS) and American Express Company (NYSE:AXP) reported their charge-off and delinquency rates for the month of January 2012.
AmEx reported a decline in its charge-off rate to 2.2% of balances on an annualized basis in January 2012 from 2.3% in December 2011 and 3.8% of balances in January 2011. The company has the lower charge-off rate in the card industry, primarily due to its prosperous clientele.
Discover also reported a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CenturyLink EPS Misses, Rev Beats

Posted: 16 Feb 2012 09:50 AM PST

The fourth-largest U.S. landline operator CenturyLink Inc. (NYSE:CTL) has reported fourth quarter adjusted earnings of 55 cents per share, failing to meet the Zacks Consensus Estimate of 61 cents.
Adjusted earnings plunged 26.7% from the year-ago earnings of 75 cents. The downfall was due to steeper operating expenses and lower legacy voice and access revenues given loss of customers and lower minutes of use that clouded over higher strategic revenues.
Adjusted earnings per share excluded the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Buying Opportunity During Precious Metal Corrections: New Gold (NGD)

Posted: 16 Feb 2012 09:37 AM PST

From the players who gave Newmont (NYSE:NEM) and Franco Nevada (FNV) to the world of precious metals, there are significant new developments. Gold Stock Trades focusses on the significance of expansionist moves that slowly but surely augurs a profitable future for New Gold.
New Gold has consolidated the ownership of the Blackwater Property by taking over Silver Quest.  The importance of this particular chess play not only allows New Gold (NGD) to command precious territory in British … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Athena’s EPS Meets, Net Dips

Posted: 16 Feb 2012 09:35 AM PST

Leading vendor of cloud-based services for physician practices Athenahealth (NASDAQ:ATHN) reported fourth-quarter adjusted (excluding one-time items other than stock-based compensation expense) earnings per share of 16 cents, matching the Zacks Consensus Estimate and trailing the year-ago earnings per share of 21 cents.  
For fiscal 2011, adjusted earnings per share of 55 cents missed the Zacks Consensus Estimate of 57 cents and exceeded the year-ago earnings of 37 cents a share.
Net income (as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Malachy Visits The NYSE

Posted: 16 Feb 2012 09:30 AM PST

02/16/12 The winner of the Best in Show title at the 136th Westminster Kennel Club rang the Opening Bell at the NYSE. David Fitzpatrick, Malachy’s co-owner and handler, talks about the Pekingese’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Conmed’s 4Q EPS Tops, Slips To Loss

Posted: 16 Feb 2012 09:20 AM PST

Conmed Corporation's (NASDAQ:CNMD) fourth-quarter fiscal 2011 adjusted (excluding one-time items) earnings per share of 46 cents outstripped the Zacks Consensus Estimate of 39 cents and the year-ago adjusted earnings 36 cents. The results also exceeded the company's guidance of 37 cents and 42 cents.
However, on a reported basis, the New York-based company slipped into a loss in the quarter, hit by the twin impact of a lofty non-cash goodwill impairment charge (of $60.3 million) related to its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Eurozone Central Bank Debt Swap Deal To Spare Their Bonds From Any Part Of Losses

Posted: 16 Feb 2012 09:18 AM PST

New Greek bonds ill have the same characteristic as the original bonds.
The move by the central bank to exchange old Greek bonds for new ones is thought to help the Greek debt situation as Greece will not have to pay the now higher rate.  What maturity will the bonds have? I do not know. In any case, the EURUSD is liking it and moving … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Marriott Misses By A Penny

Posted: 16 Feb 2012 09:10 AM PST

Marriott International Inc. (NYSE:MAR) reported fourth quarter 2011 earnings of 46 cents per share, missing the Zacks Consensus Estimate by a penny. However, quarterly earnings were up 31% year over year. In full-fiscal 2011, earnings were $1.31 versus $1.02 recorded in the prior year.
On a reported basis, earnings per share were 41 cents versus 46 cents in the year-ago quarter. Reported earnings include the adjustment for timeshare spin-off. In full-fiscal 2011, earnings were 55 cents versus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Heinz

Posted: 16 Feb 2012 08:59 AM PST

H.J. Heinz Company (NYSE:HNZ) is scheduled to report its third-quarter 2012 financial results on February 17, 2012. The current Zacks Consensus Estimate for the quarter is 85 cents per share.
Second-Quarter 2012 Synopsis
Heinz posted better-than-expected second-quarter 2012 adjusted earnings of 81 cents per share, exceeding the Zacks Consensus Estimate by a penny. The earnings also surpassed the prior-year earnings of 78 cents by 3.8%.
About 3 cents of the increase in earnings were driven by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Ghana Hikes Rate 100bps To 13.50%

Posted: 16 Feb 2012 08:51 AM PST

The Bank of Ghana raised its key lending rate 100 basis points to 13.50% from 12.50% previously.  Bank of Ghana Governor, Kwesi Amissah-Arthur, said: “The Committee concluded that the balance of risks to inflation is elevated. To contain future inflation pressures and realign interest rates in favour of domestic assets, it is necessary that monetary policy continues to be fine tuned to ensure that inflation expectations remain anchored to keep inflation within the target … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Parallel Trendlines For Positioning Targets

Posted: 16 Feb 2012 08:41 AM PST

There are those who follow Bob Prechter, one of the strong proponents of the Elliott Wave principles have their ways of identifying price level targets.  And then there's the crowd who hide out at Slope of Hope, the place where … Continue reading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Federal Realty Misses By A Penny

Posted: 16 Feb 2012 08:35 AM PST

Federal Realty Investment Trust (FRT) a real estate investment trust (REIT) reported fourth quarter 2011 FFO (funds from operations) of $62.1million or  97 cents per share compared with $62.2 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.  Reported FFO, however, missed the Zacks Consensus Estimate by a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UFPI’s 4Q Beats Estimate

Posted: 16 Feb 2012 08:20 AM PST

 
Universal Forest Products Inc. (NASDAQ:UFPI) reported its financial results for the fourth quarter and fiscal year 2011 on February 15, 2012. Earnings per share, adjusted for non-cash items, in the quarter were at break-even levels as compared with a loss of 9 cents incurred in the year-ago quarter. Results fared well as compared with the Zacks Consensus Estimate of a loss of 4 cents.  
Including the non-cash adjustments, fourth quarter weakened, recording a 9 cent per share loss … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Turn Higher, Boosted By US Data

Posted: 16 Feb 2012 08:20 AM PST

02/16/12 US stocks reversed earlier weakness to trade higher. Economic data on US housing, jobless claims and the Philly Fed survey all surpassed estimates, tempering concerns over … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Surges Higher. Resistance At 1.5772-85 Eyed.

Posted: 16 Feb 2012 08:18 AM PST

The GBPUSD broke above the 100 hour and trendline support and this led to a sharp move higher in the GBPUSD (see blue line in the chart above). The move has pushed the price up through the 38.2% and toward the next key target against the 200 hour MA at the 1.5777 level.  This and the 50% retracement of the move down from the Feb 8th high, should slow the upward momentum.  A break above this area, should not be ignored however.
Looking at the daily chart, remember the highs from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Another Spelling/Grammar/Punctuation Rant On It’s Vs. Its: Maybe It’s Tiime To Just Change The Rule?

Posted: 16 Feb 2012 08:06 AM PST

From the comments section:

…convinced the agency to now give energy it’s due….

…has been abandoning it’s libertarian bearings over the last couple of years…

…is Cuba is prepared to allow it’s citizens…

… or what it's impacts are likely to be…

…The Fed has the ability to manipulate the rate toward it’s target…

…in it’s current incarnation, wind power makes no sense…

…is definitely it’s own economy…

…more than twice it’s current value…

…which abandoned … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Zynga Reports Disappointing 4Q

Posted: 16 Feb 2012 08:05 AM PST

Zynga's (ZNGA) much-hyped fourth quarter results (first after the initial public offering) failed to excite investors as the social gaming company reported a loss of 56 cents per share (including stock-based compensation expense), which were miles short of the Zacks Consensus earnings estimate of 3 cents per share. Shares also declined 17.8% to close at $11.80 on February 15, 2012.
Earnings (excluding stock-based compensation) declined 44.4% year over year to 5 cents per share in the reported … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Produer Price Inflation Remains Moderate

Posted: 16 Feb 2012 07:38 AM PST

Some highlights of the BLS report today on Producer Prices for January:

1. The annual inflation rate for crude goods (including crude energy materials and crude foodstuffs and feedstuffs) fell to 4.5% in January, the lowest rate in more than two years, since a 4.8% rate in November 2009.  As recently as June 2011, inflation for crude goods was more than 26% (see chart).

2. The annual inflation for intermediate goods fell to 4.2% in January, the lowest rate since December 2009, and down … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Dollar Rebounds As Japanese Yen Onslaught Continues

Posted: 16 Feb 2012 07:18 AM PST

Fundamental Headlines
- Europe Demands More Greek Budget Controls – Bloomberg
- France Joins Spain to Defy Moody's Downgrade with $18.5 Billion Bond Sales – Bloomberg
- Jobless Claims Drop to near 4-year Low – Reuters
- Spanish GDP Shrank in Fourth Quarter – WSJ
- U.S., Afghans in Taliban Talks – WSJ
European Session Summary
Although higher yielding currencies and risk-correlated assets were mostly lower in the overnight, the real story is what's going on with the Japanese Yen. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street’s Opening Bell, Doggystyle!

Posted: 16 Feb 2012 06:45 AM PST

02/16/12 America’s top dog “Malachy”, the Best in Show winner of the 136th Westminster Dog Show, came to celebrate his victory by ringing the Opening Bell at the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Global Equities Trim Gains On Greece Delay

Posted: 16 Feb 2012 01:15 AM PST

02/16/12 Stock index futures briefly trimmed gains on Wednesday on news euro zone finance officials were looking to delay parts or even all of a second bailout for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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