Friday, May 11, 2012

DailyMarkets.com - Nordstrom’s EPS Lags Expectations

DailyMarkets.com - Nordstrom’s EPS Lags Expectations

Nordstrom’s EPS Lags Expectations

Posted: 11 May 2012 07:53 AM PDT

Despite reporting solid top-line growth, the upscale department store operator Nordstrom Inc.'s (NYSE:JWN) first-quarter 2012 earnings of 70 cents per share missed the Zacks Consensus Estimate of 75 cents. However, quarterly earnings were higher than the prior-year period earnings of 65 cents per share.
Quarter in detail
Nordstrom's same-store sales and top-line trends were encouraging for the quarter. Total revenue grew 13.2% to $2,629 million from $2,323 million in the prior-year period and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SBS Posts Upbeat 1Q12 Results

Posted: 11 May 2012 07:32 AM PDT

Sao Paulo, Brazil-based Companhia de Saneamento Basico do Estado de Sao Paulo, or SABESP's (SBS) net income in the first quarter 2012 increased drastically by 169% year over year to R$491.9 million (US$277.9 million). Earnings per share came in at R$2.16 (US$2.44), an increase from R$0.80 (US$0.96 per ADR) in the year-ago quarter. Results exceeded the Zacks Consensus Estimate of US$1.62.
Revenue: Net revenue in the first quarter increased 12.8% to R$2,588.4 million (US$1,462.4 million), … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

OfficeMax Beats Zacks Estimates

Posted: 11 May 2012 07:13 AM PDT

OfficeMax Inc. (NYSE:OMX) posted better-than-expected first-quarter 2012 results. The quarterly earnings of 23 cents a share beat the Zacks Consensus Estimate of 16 cents and rose substantially from 13 cents earned in the prior-year quarter on the back of effective cost management and marginal growth in the top line.
Behind the Headline
Total sales inched up 0.5% to $1,872.9 million from the same quarter last year, and came ahead of the Zacks Consensus Estimate of $1,867 million.
The office … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Loss At Optimer In 1Q

Posted: 11 May 2012 07:13 AM PDT

Optimer Pharma's (NASDAQ:OPTR) first quarter 2012 net loss (excluding special items) of 73 cents per share compared unfavorably with the year-ago earnings of $1.04 and the Zacks Consensus loss Estimate of 38 cents per share. Lower revenues and higher costs hurt results during the first quarter of 2012.
Revenues in the first quarter of 2012 came in at $14.4 million as opposed to $69.3 million in the year-ago quarter. We note that revenues in the year-ago quarter were boosted by the receipt of $69.2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Updating Distribution Volume Trends In SPY And DIA

Posted: 11 May 2012 06:55 AM PDT

Here's an update to a prior volume-centric post that highlighted the April trend towards Distribution Volume in the US Equity Markets.
The recent sharp sell-off confirmed the earlier signals and added to the broader Distribution Picture.
Let's take a look at the current "Volume Only" color-coded SPY and DIA (S&P 500 and Dow Jones ETF) charts:

Dow Jones ETF:  DIA

Start with the April 11th original "April Distribution Volume Trends" for background information and to see … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CSN Lags Estimates, Costs Rise

Posted: 11 May 2012 06:52 AM PDT

Companhia Siderurgica Nacional (NYSE:SID), or CSN's net income in the first quarter 2012 was R$92.6 million (US$52.3 million) versus R$615.7 million (US$370.9 million) in the year-ago quarter. Earnings per share came in at R$0.06, or US$0.04 per ADR as compared with the Zacks Consensus Estimate of US$0.25 per ADR.
Fall in net income was attributable to lower gross profits due to rise in cost of goods sold.
Revenue
The company generated net revenues of R$3,896 million (US$2,201 million) in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australian Dollar, Euro Back At Monthly Lows As Dollar Surges

Posted: 11 May 2012 06:44 AM PDT

Fundamental Headlines
- The Worst is NOT Over for China's Economy – Also Sprach Analyst
- U.S. Senator Questions Fed on Chinese Bank Decision – Bloomberg
- Producer Prices Unexpectedly Drop in April – Reuters
- J.P. Morgan's $2 billion Blunder – WSJ
- J.P. Morgan Holding Talks with U.K. Regulators – WSJ
European Session Summary
Yesterday's price action was very telling. Typically, Europe has been the most important trading session of the day: this is when the market has been … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Leak

Posted: 11 May 2012 06:43 AM PDT

Friday, May 11, 2012
Some traders who are expecting Oil prices to continue to fall in the near-term but who potentially may wish to go long Oil if prices continue to fall may perhaps want to explore a diagonal ratio spread. This spread involves buying a near-the-money put in a closer to expiration month and selling multiple further out-of-the-money puts in a farther out contract month. For example, with July Crude trading at 97.00 and August Crude trading at 97.29, the July 95 puts could be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sluggish 4Q For BMC

Posted: 11 May 2012 06:38 AM PDT

BMC Software Inc. (NYSE:BMC) reported fourth quarter 2012 earnings per share of 59 cents, lagging the Zacks Consensus Estimate of 66 cents.
Revenue
Total revenue in the reported quarter was $564.7 million, up 0.4% year over year. The company witnessed indifferent results across different revenue segments. The SaaS business performed well across its different business segments. This is best measured on the basis of recurring revenue and also on the basis of total bookings.At the end of the quarter, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Big Banks “Too Big To Manage”?

Posted: 11 May 2012 06:38 AM PDT

 
Greece has been dominating the headlines lately, but the news out of China in the last few days has not been that reassuring either. But just as weak U.S. economic reports are perceived as improving the odds of further Fed support, the soft Chinese data also gets interpreted from that angle. And while one could question the Fed's capacity to have a meaningful impact on the economy given the existing monetary stance, few doubt the ability and capacity of Chinese authorities ease … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Copa Holdings, S.A., Cisco Systems, Monster Worldwide, Windstream Corporation

Posted: 11 May 2012 06:38 AM PDT

    News Corp (NWSA) rose 4.8% after it reported third quarter earnings per share of $0.37, beating the Zacks Consensus Estimate of $0.31

    Copa Holdings, S.A. (NYSE:CPA) gained 10.1% on Thursday, a day after  it reported first quarter earnings per share of $2.04, beating the Zacks Consensus Estimate of $2.00

    Cisco Systems, Inc. (NASDAQ:CSCO) declined 10.5% on Thursday, a day after  it reported third quarter earnings per share of $0.42, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FTI Consulting Lags Estimates In 1Q

Posted: 11 May 2012 06:18 AM PDT

FTI Consulting Inc.'s (NYSE:FCN) first quarter 2012 earnings of 43 cents per share considerably lagged the Zacks Consensus Estimate of 61 cents, but were a penny ahead of the year-ago quarter level. The lower-than-expected earnings was mainly attributable to increased cost incurred on benefits and payroll taxes and additional higher expense burden from the first quarter onwards related to equity bonus compensation.
Total revenue in the reported quarter jumped 9.2% year over year to $395.2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mixed Numbers From Dynegy

Posted: 11 May 2012 05:59 AM PDT

Dynegy Inc. (NYSE:DYN) in the first quarter of 2012 reported an adjusted loss of 71 cents per share beating the Zacks Consensus Estimate of a loss of 91 cents. The upside came from high capacity generation which offset a sharp decline in revenues. Earlier, the company had incurred a loss of 59 cents in the prior-year period. Including one-time items, Dynegy's first quarter net loss was 47 cents per share compared with a net loss of 64 cents in first quarter 2011.
Operational Results
In the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Public Tops, Dull 2Q Ahead

Posted: 11 May 2012 05:59 AM PDT

American Public Education (NASDAQ:APEI) recorded first quarter 2012 earnings of 50 cents per share, beating the Zacks Consensus Estimate by 2 cents and the prior-year quarter earnings by 7 cents. Earnings were also above the guidance of 45 cents to 49 cents due to top-line growth in the quarter.
Total revenue of $75.7 million was up 29% from the prior-year quarter, slightly above management's expectation of a growth of approximately 27% for the said quarter. Revenues also edged past the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Miss At Express Scripts

Posted: 11 May 2012 05:38 AM PDT

Express Scripts Inc.'s (NASDAQ:ESRX) first quarter 2012 adjusted earnings of 73 cents per share (excluding special items) missed the Zacks Consensus Estimate by 4 cents. Earnings were however 10.6% above the year-ago figure. The jump in year-over-year earnings is attributable to higher revenues and a lower share count.
First quarter revenues of $12.1 billion surpassed the Zacks Consensus Estimate of $11.5 billion and the year-ago revenues of $11.1 billion.
Quarterly Details
Adjusted gross profit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JP Morgan Whale: “Thar She Blows”

Posted: 11 May 2012 04:02 AM PDT

Less than a month ago, JP Morgan (NYSE:JPM) released very solid 1st quarter 2012 earnings and put out the following release:

New York, April 13, 2012 - JPMorgan Chase (NYSE:JPM) & Co. (NYSE:JPM) today reported first-quarter 2012 net income of $5.4 billion, compared with net income of $5.6 billion in the first quarter of 2011. Earnings per share were $1.31, compared with $1.28 in the first quarter of 2011.
Jamie Dimon, Chairman and Chief Executive Officer, commented on financial … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Commodities Sold As Risk Appetite Unravels, US Data May Cap Losses

Posted: 11 May 2012 01:58 AM PDT

Talking Points

Crude Oil, Copper Sold on Risk Aversion, US Data May Prove Supportive
Gold and Silver Down as US Dollar Extends Gains on Haven Demand

Commodity prices are trading broadly lower in European hours as risk appetite continues to unravel, with growth-sensitive crude oil and copper prices following stocks lower while safe-haven flow buoy the US Dollar, applying de-facto downward pressure on gold and silver. As we suspected earlier in the week, the latest bout of negativity appears … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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