Tuesday, April 17, 2012

DailyMarkets.com - Earnings Preview: Qualcomm Inc.

DailyMarkets.com - Earnings Preview: Qualcomm Inc.

Earnings Preview: Qualcomm Inc.

Posted: 17 Apr 2012 07:50 AM PDT

Qualcomm Inc. (NASDAQ:QCOM) is slated to release its second quarter 2012 results on Wednesday, April 18, after the closing bell. The current Zacks Consensus Estimate for the second quarter is pegged at 86 cents per share, representing an annualized growth of 11.87%.
With respect to earnings surprises over the trailing four quarters, Qualcomm has outperformed the Zacks Consensus Estimate in three of the last four quarters. The average earnings surprise was a positive 3.67%, implying that the company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Nokia

Posted: 17 Apr 2012 07:35 AM PDT

Nokia Corporation(NYSE:NOK), the world's largest mobile phone maker, is slated to release its first quarter 2012 results on Thursday, April 19, before the opening bell. The current Zacks Consensus Estimate for the first quarter is a loss of 5 cents, representing a decline of 129.7% from the year-ago quarter.
With respect to earnings surprises over the trailing four quarters, Nokia has outperformed the Zacks Consensus Estimate in all the four quarters. The average earnings surprise was a positive … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Goldman Reports Golden Results

Posted: 17 Apr 2012 07:20 AM PDT

The Goldman Sachs Group Inc. (NYSE:GS) reported its first-quarter 2012 earnings per share of $3.92, significantly surpassing the Zacks Consensus Estimate of $3.55 per share. Moreover, the reported earnings almost doubled the prior quarter's earnings of $1.84 per share.
Amid the improving economy and global markets, the results were driven by increases in investment banking revenues and equity trading. Moreover, higher client activity levels added fuel to the fire. Higher operating expenses were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Quest Diagnostics

Posted: 17 Apr 2012 07:20 AM PDT

Quest Diagnostics (NYSE:DGX) is scheduled to release its first quarter 2012 results on Wednesday, April 18, 2012, before the market opens. According to the Zacks Consensus Estimate, the company is expected to earn $1.00 per share on revenues of $1,878 million during the quarter. For fiscal 2012, earnings are expected to be $4.54 on revenues of $7,677 million, as per the Zacks Consensus Estimate.
Fourth Quarter Recap
Quest Diagnostics reported earnings of $1.19 per share in the fourth quarter 2011 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Golden Phoenix Strikes Back And Asserts Its Rights At Mineral Ridge

Posted: 17 Apr 2012 07:05 AM PDT

Golden Phoenix strikes back and asserts its rights at Mineral Ridge
Steven Ralston, CFA

Late yesterday, Golden Phoenix Minerals (GPXM: OTCBB) announced the removal of Scorpio Gold (SGN: TSX-V) as the manager of Mineral Ridge gold project in Nevada. Officially, Scorpio will be removed and Golden Phoenix Minerals will be appointed manager at a Special Meeting of the MRG Management Committee to be held in Las Vegas later this week.

It was the failure of Scorpio Gold to achieve commercial … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earning Preview: New York Times

Posted: 17 Apr 2012 07:05 AM PDT

The New York Times Company (NYSE:NYT), the publisher of The New York Times, the International Herald Tribune and The Boston Globe, is scheduled to report its first-quarter 2012 financial results on Thursday, April 19, 2012.
The current Zacks Consensus Estimate for the quarter is 2 cents a share, which is in line with the prior-year quarter's earnings. The estimates in the current Zacks Consensus range between a low of 1 cent and a high of 3 cents a share. The Zacks Consensus estimates revenue at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: VMware Inc.

Posted: 17 Apr 2012 06:50 AM PDT

VMware Inc. (NYSE:VMW) is set to release its fiscal first quarter 2012 results after the closing bell on April 18, 2012. In the run up to the earnings results, no substantial movement in analysts' estimates for the quarter was noticed.
Prior Quarter Recap
VMware reported an outstanding fourth quarter 2011 with its earnings per share (EPS) surging 59.2% year over year and handily beating the Zacks Consensus Estimate by 9 cents. The better-than-expected results were driven by solid revenue growth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Gannett Co., Mattel, Merck & Company

Posted: 17 Apr 2012 06:35 AM PDT

    Shares of Dreams Inc. (NYSEAMEX:DRJ) rose 30.3% after the retailer agreed to be purchased by privately owned online sports merchandiser Fanatics Inc. for $3.45 a share

    Shares of Endocyte Inc. (ECYT) jumped 100.5% after Merck & Co. (NYSE:MRK) struck a deal worth up to $1 billion to develop an experimental cancer drug and announced that it would pay $120 million upfront to Endocyte with additional payouts of up to $880 million

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

Earnings Preview: Abbott Labs

Posted: 17 Apr 2012 06:35 AM PDT

Abbott Laboratories (NYSE:ABT) is set to release its first quarter 2012 results on April 18, 2012 before the opening bell. The Zacks Consensus Estimate for the first quarter is $1.00, representing a year-over-year increase of 9.9%.  Abbott Labs has surpassed earnings estimates consistently in the last four quarters with a trailing four-quarter average of 0.89%.
Fourth Quarter 2011 Flashback
Abbott Labs reported fourth quarter earnings of $1.45 per share, a penny above the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings & Housing To Drive Market

Posted: 17 Apr 2012 06:35 AM PDT

Favorable earnings reports on the home front and a not-so-bad bond auction in Spain provide the backdrop for today's trading action. This morning's housing report is a bit on the mixed side, but the strength on the Permits side likely trumps the Starts weakness, in my view.
After showing promising momentum in the winter months, housing reports have been less than inspiring lately. Today's mixed Housing Starts reading follows Monday's slip up in the housing market index (HMI) and a slew … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Thoughts On Tax Day 2012

Posted: 17 Apr 2012 06:30 AM PDT

As Justice Oliver Wendell Holmes, Jr., wrote in 1904, "taxes are the price we pay for a civilized society."
But the wealthiest Americans, who haven't raked in as much of America's income and wealth since the 1920s, are today paying a lower tax rate than they have in over thirty years. Even though America faces a mammoth federal budget deficit. Even though public services at all levels of government continue to be slashed. Even though the median wage is still dropping, adjusted for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: IBM

Posted: 17 Apr 2012 06:25 AM PDT

International Business Machines Corp (NYSE:IBM) is set to release its fiscal first quarter 2012 results after the closing bell today. In the run up to the earnings release, no significant changes in analyst estimates were noticed.
We note that IBM has posted an average earnings surprise of 1.84% in the trailing four quarters, implying that it has outdone the Zacks Consensus Estimate by the same magnitude for the said period. We don't expect a major change in the earnings trend pattern for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Range 1Q Volume Surges

Posted: 17 Apr 2012 06:17 AM PDT

Range Resources Corporation's (NYSE:RRC) first quarter 2012 production volume experienced a 20% improvement from the year-earlier period, mainly on the back of sustained accomplishment from the company's drilling program.
The company's first quarter production averaged 655.5 million cubic feet equivalent per day (MMcfe/d), comprising 78% natural gas, 16% natural gas liquids (NGLs) and 6% oil. Oil production expanded 36%, NGL rose 20% and natural-gas production increased 19% on a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valero Sees Loss On $650M Charge

Posted: 17 Apr 2012 06:11 AM PDT

Valero Energy Corporation (NYSE:VLO) expects to report a loss in the upcoming first quarter of 2012, considering a $605 million charge related to the closure of Aruba oil refinery.
The San Antonio, Texas-based company anticipates its first quarter 2012 loss to range between 75 cents and 85 cents a share after taking into consideration a charge of about $1.10 a share related to the refinery closure. Excluding the charge, Valero expects its profit from continuing operations to be 25 cents to 35 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Europe Stocks Rise On Spain Auction, German Survey‎

Posted: 17 Apr 2012 06:11 AM PDT

04/17/12 European stocks were higher after Spain sold more paper than planned at its latest bill auction while an improvement in German economic confidence also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

3M Invests In Zephyr

Posted: 17 Apr 2012 06:05 AM PDT

3M Company (NYSE:MMM) through it corporate venture organization, 3M New Ventures, expanded its scope in development of real-time physiological monitoring solutions through its investment in the developer of these solutions, Zephyr Technology. These solutions are used for well-being applications in healthcare, first responder, sports, military, and industrial markets.
Other investors in this series C financing round include Alsop Louie Partners and Motorola Solutions Venture Capital. The invention … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Denbury’s 1Q Volume Grows

Posted: 17 Apr 2012 05:59 AM PDT

Texas-based Denbury Resources Inc. (NYSE:DNR) reported its preliminary first quarter 2012 production and realized oil prices. Production jumped 8% from fourth quarter 2011 to 71,532 barrels of oil equivalent per day (Boe/d), of which 93% was oil. The figures for both the periods are adjusted for the 2012 property sales.
Volumes of 1,759 Boe/d derived from non-core assets divested by Denbury so far in 2012 have been included in the preliminary production data. The first quarter 2012 production … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Steadies After Spanish Auction While Loonie Rallies Ahead Of BoC

Posted: 17 Apr 2012 05:55 AM PDT

Fundamental Headlines
- Retailers Adding Workers Makes U.S. March Decline a Blip – Bloomberg
- Senate Blocks Buffet Rule 30% Tax Floor on Top Earners – Bloomberg
- Argentina Moves to Seize Control of Repsol's YPF – Reuters
- Demand for Spain's T-Bills Jumps; So Does Price – WSJ
- Spanish T-Bill Sale Unlikely to Allay Fears – WSJ
European Session Summary
The past 24-hours have yielded some very interesting price action: the EURUSD traded below the 1.3000 exchange rate for the first … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Naked Short Selling: A “Wall Street Conspiracy”?

Posted: 17 Apr 2012 05:54 AM PDT

Do readers recall Dick Fuld, then CEO of Lehman Brothers, railing against hedge funds which were attacking the once venerable firm by aggressively shorting its stock? Fuld maintained that these aggressors were engaged in a practice known as 'naked short selling' and that they brought Lehman to its knees in the process.
The last four years have brought us plenty of intrigue and innuendo about a host of illegal and illicit practices on and off Wall Street but we have heard and seen … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TAM Aeromexico In Codeshare Deal

Posted: 17 Apr 2012 05:51 AM PDT

A strong aviation market outlook for 2012 is quite precise and encouraging for the airline industry worldwide. Leveraging on such an outlook, the operating companies continue with their effort to increase the number of flights and connections among high-demand flight stoppages. A strategic option in this regard is thus facilitating to establish partnerships and agreements with market leaders. Brazilian airline leader TAM S.A (NYSE:TAM) andMexico's largest transcontinental airline Aeromexico … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Omnicom Beats, Revs Up

Posted: 17 Apr 2012 05:41 AM PDT

Omnicom Group Inc. (NYSE:OMC) posted decent operating results for the first quarter of 2012 on April 17, 2012.
Omnicom's net income in the quarter grew 1.3% year over year to $204.6 million from $201.9 million recorded in the first quarter of 2011. Diluted earnings per share (EPS) expanded by 4.3% from 69 cents in the year-ago quarter to 72 cents in the reported quarter. EPS also beats the Zacks Consensus Estimate of 69 cents.
Total revenue was $3,307.3 million, up 5.0% year over year from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lowe’s Issues Debt

Posted: 17 Apr 2012 05:35 AM PDT

Borrowing costs went down significantly in the first quarter this year, marking a record low, and in turn, facilitating the companies to obtain easy financing at compelling terms. Besides, corporate bonds were in huge demand as U.S. treasuries were yielding low driving investors toward the bonds issued by the fundamentally sound companies.
Debt offers of big companies witnessed oversubscription providing the corporations the option to price their offerings at lower rates. Therefore, several … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Regis Divests Stake At Provallianc

Posted: 17 Apr 2012 05:25 AM PDT

Regis Corporation (NYSE:RGS) recently inked a deal to divest its minority ownership interest in Provalliance, the largest hair salon company in Europe. The decision reflects the leading global hair care company's efforts to turn around from continued underperformance.
Per the deal, Minneapolis-based Regis will receive EUR 80 million in cash from Provalliance, which is buying the stake. The divesture is expected to be completed by September 30, 2012, depending on the Provalliance's ability to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Real Estate: Relationship Between Asking And Selling Price

Posted: 17 Apr 2012 04:35 AM PDT

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


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