Posts related to ‘Earnings’

Retail & Apparel Earnings Dominate Next Week (SKS, BJ, GYMB, ANN, DKS, FL, GPS, SHLD, PLCE, WTSLA, ZUMZ)

Bull and Bear ImageIt seems that earnings season is winding down, but next week we have many of the key retail and apparel players reporting earnings.  Saks Incorporated (NASDAQ: SKS), BJ’s Wholesale Club Inc. (NYSE: BJ), Gymboree Corp. (NASDAQ: GYMB), and Ann Taylor Stores Corp. (NYSE: ANN) are all reporting next week.  Next Thursday may feel like a retail and apparel earnings bonanza as we have Dick’s Sporting Goods Inc. (NYSE: DKS), Foot Locker Inc. (NYSE: FL), Gap Inc. (NYSE: GPS), Sears Holdings Corporation (NASDAQ: SHLD), The Children’s Place Retail Stores, Inc. (NASDAQ: PLCE), Wet Seal Inc. (NASDAQ: WTSLA), and Zumiez, Inc. (NASDAQ: ZUMZ) all reporting earnings in one day.

We have provided estimates from Thomson Reuters, recent sale store sales data, share performance, and added color on what else to consider where applicable.
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Posted on: November 13, 2009 – 11:36 am in Apparel, Calendar, Earnings, Retail, , , , , , , , , , ,

Despite Many Drops, Disney Delivers (DIS)

DIS LogoThe Walt Disney Company (NYSE: DIS) is out with earnings and the report is a solid one compared to what we have seen elsewhere, yet it too saw mostly erosion in its business segments. For the quarter, the Mouse House posted $0.47 EPS compared to $0.40 in the prior-year quarter, but that figure had gains from the Lifetime/A&E transaction and restructuring and impairment charges, which together resulted in a net benefit of $0.01.  If you back out all items, the company is showing a 5% earnings gain to $0.46 EPS.  Revenues were down 4% year over year to $9.867 billion.  Thomson Reuters had estimates at $0.41 EPS and $9.27 billion in revenues.  The units are where the story sounds worse than the raw figures.
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Posted on: November 12, 2009 – 4:35 pm in Earnings, Entertainment, Media,

52-Week High Club (COMS, AMD, PLA, BID)

3Com Corp (NASDAQ: COMS) rose over 30% to a yearly high of $7.52 after Hewlett-Packard, the PC maker, announced plans to buy 3Com for $2.7 billion.

Advanced Micro Devices Inc. (NYSE: AMD) rose over 20% to a yearly high of $6.73 after the announcement that the company would receive $1.25 billion from Intel Corp. (NASDAQ: INTC) under an agreement that ends a legal dispute between the two companies over patents and antitrust accusations.  

Playboy Enterprises Inc. (NYSE: PLA) rose over 60% to a yearly high of $4.75 because the magazine is in talks to sell itself to Iconix Brand Group (NASDAQ: ICON).

Sotheby’s (NYSE: BID) rose as high as 11% to a yearly high of $19.50 after the action house raised $117 million at a sale yesterday.  

Garrett W. McIntyre

Posted on: November 12, 2009 – 4:31 pm in Earnings, Law, Mergers and Buy Outs, , , , , ,

Wal-Mart (WMT): It’s Beginning To Look At Lot Like Christmas

WMTWal-Mart (NYSE:WMT) beat Wall St. expectations for earnings and revenue.

Perhaps more important, it indicated that the fourth quarter would be OK. The Christmas retail season just began to look a bit better.

Wal-Mart reported diluted earnings per share from continuing operations for the third quarter of fiscal year 2010 of $0.84, exceeding the company’s guidance of $0.78 to $0.82. Walmart earned $0.77 per share from continuing operations in the third quarter last year. Net sales for the third quarter were $98.667 billion, an increase of 1.1 percent from $97.619 billion in the third quarter last year. Read More »

Posted on: November 12, 2009 – 7:43 am in Earnings, Retail,

Tech Strangeworld: 3Com Bought by H-P (COMS, HPQ, CSCO, IBM)

HO LogoSometimes the unimaginable happens, and that is today.  3Com Corporation (NASDAQ: COMS) is being acquired, and in a deal that won’t run regulatory risk at least over China having access to core technology.  Hewlett-Packard (NYSE: HPQ) is the surprise buyer.

H-P is buying the networking and routing company for a price of $7.90 per share in cash, which comes to an enterprise value of about $2.7 billion.   The deal has also been approved by the boards of directors at each company.  Based upon Cisco Systems Inc. (NASDAQ: CSCO) expanding its reach further out into data centers and beyond and based on some recent moves from IBM (NYSE: IBM), this is actually a lower surprise than had this been announced a year ago.  That would make one wonder what moves those companies will make.
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Posted on: November 11, 2009 – 4:30 pm in Earnings, Mergers and Buy Outs, Technology Companies, , , ,

Applied Materials 360-Degree View Before Earnings (AMAT, SMH, USD)

AMAT LogoApplied Materials Inc. (NASDAQ: AMAT) is on deck for earnings this afternoon right after the market closes. The chip equipment giant, and relatively new solar player, is the king of its sector to most traders and investors and will potentially have an impact on all the chip equipment stocks in the sector.  Estimates from Thomson Reuters are $0.03 EPS and $1.32 billion in revenues for its October quarter, which is also its year-end with estimates of -$0.14 EPS and $4.80 billion in revenues.

Applied Materials does represent about 13.55% of the Semiconductor HOLDRs (NYSE: SMH) ETF, but only represents about 5% of the Ultra Semiconductor ProShares (NYSE: USD) ETF.  We will be looking to its fiscal-2010 comments more than this last quarter.
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Posted on: November 11, 2009 – 12:12 pm in Alternative Energy, Earnings, Semiconductor, Technology Companies, , ,

Macy’s Highlights Value-Performance Conundrum in Dept. Stores (M, JWN, KSS)

Bull and Bear ImageMacy’s Inc. (NYSE: M) is showing just how much of a conundrum there is between today’s retail stock valuations and the reality of what to expect from earnings ahead.  Macy’s had a narrower loss in the last quarter of $35 million, or -$0.08 EPS; but outside of items its earnings were -$0.03 EPS.  Revenues were down over 3% to $5.28 billion. Thomson Reuters had estimates at -$0.07 EPS and $5.25 billion in revenues.    The company did manage solid inventory management controls and its ongoing localized merchandise by region was part of why it raised its sales and earnings guidance for the year.

Still, there are issues between today’s share price versus valuations and where it came up from.  This also highlights issues that lie ahead for Nordstrom Inc. (NYSE: JWN) and Kohl’s Corp. (NYSE: KSS) ahead of their earnings this week.
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Posted on: November 11, 2009 – 10:12 am in Apparel, Earnings, Earnings Warning, Retail, , ,

Clearwire Shows Earnings & Financing Hand (CLWR, S, CMCSA, TWC, DRWI)

Clearwire LogoInvestors are getting a look at why Clearwire Corporation (NASDAQ: CLWR) announced that it was getting new partner financing ahead of its quarterly earnings report.  The wireless broadband services provider did show a gain in revenue to $68.8 million, up 13% from the $60.8 million a year ago and up from $63.59 million just in the June quarter.  Thomson Reuters had revenue estimates at just over $66.6 million.  The net loss of -$0.43 EPS was in-line with estimates.  Sprint Nextel Corp. (NYSE: S), Comcast Corporation (NASDAQ: CMCSA), and Time Warner Cable Inc. (NYSE: TWC), its strategic partners, are set to expand selling efforts in 4G areas. Today’s news also has implications for DragonWave Inc. (NASDAQ: DRWI).
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Posted on: November 10, 2009 – 4:45 pm in Earnings, WiMAX, Wireless, , , , ,

52-Week High Club (PCLN, TWTC, FOSL)

Priceline.com Inc (NASDAQ: PCLN) surged over 20% to a yearly high of $209.19.  The global online travel agency rose after the company forcast that 4Q earnings would be at least $1.52 a share, with current analyst estimates resting around $1.49.  

tw telecom inc. (NASDAQ: TWTC) rose as high as 10% today as it reached a yearly high of $15.24.   The internet and telephone service provider was upgrade by JPMorgan Chase & Co. to “overweight” from “neutral”. 

Fossil Inc (NASDAQ: FOSL) rose as high as 11.5% to a high of $32.07 toda as the fashion accessory designer and distributor raised their earnings estimates.  

Garrett W. McIntyre

Posted on: November 10, 2009 – 4:29 pm in Earnings, Retail, Telecom, , , ,

Top 10 Earnings on Deck This Week (ERTS, ENER, PCLN, SQNM, TYC, AMAT, M, JWN, WMT, DIS)

bull-and-bear-image2Earnings season has wound down now with over 85% of the S&P 500 Index having reported.  Still, there are some key companies posting their quarterly results and some companies were screened out of this list which are still actively traded or widely held stocks.  Electronic Arts Inc. (NASDAQ: ERTS), Energy Conversion Devices, Inc. (NASDAQ: ENER), Priceline.com Inc. (NASDAQ: PCLN) and Sequenom Inc. (NASDAQ: SQNM) are on deck Monday. Also this week are earnings from Tyco International Ltd. (NYSE: TYC), Applied Materials Inc. (NASDAQ: AMAT), Macy’s, Inc. (NYSE: M), are Nordstrom Inc. (NYSE: JWN). Wal-Mart Stores, Inc. (NYSE: WMT) and Walt Disney Co. (NYSE: DIS) are our two DJIA components reporting this week.

We have included Thomson Reuters consensus estimates and included performance and other important color where applicable.  We have shown the share performance since the March 9 close that traders mark as the official end date of the bloody bear market.  One issue to consider is that we used the performance since June 30 to keep consistency for our prior previews even though some of the quarter-ends this coming week are technically August 31.
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Posted on: November 8, 2009 – 10:26 am in Alternative Energy, Calendar, Cult Stock, Earnings, Green Biz, Retail, Semiconductor, Short Interest, , , , , , , , , ,

Buffett & Berkshire Earn Dough (BRK-A, BRK-B, BNI, MCO)

buffettimage-gates-foundationWarren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) has just reported its Q3-2009 earnings ahead of the formal expectations.  This will be perhaps one of the last similar earnings reports with a relative comparisons because of its recent acquisition of Burlington Northern Santa Fe (NYSE: BNI).  The ongoing selling of Moody’s Corp. (NYSE: MCO) will be very limited in comparison to what change the railroad addition will make.

We were expecting the insurance operations to have a stellar quarter because there were no real storms that made landfall this year in hurricane season.  Thomson Reuters figures are hard to rely upon because of two issues.  There are very few ‘official estimates’ and there are many items inside the Berkshire Hathaway earnings that Buffett includes outside of what other companies include.  The consensus estimates was listed as $1,308.25 per share, but that is again a difficult number to use as a formal estimate.  Net earnings per share was $2,087 and operating earnings were $1,325 per share.  The key metrics are what we want to focus on today.

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Posted on: November 6, 2009 – 5:10 pm in Banking, Buffett, Conglomerates, Earnings, , , ,

Starbucks (SBUX) And The Recovery Of The Upper Classes

bucksStarbucks (NASDAQ:SBUX) does not hand out information about the demographics of its customers, but they are not likely to be people who are poor, indigent, or even lower middle class. The coffee firm announced unexpectedly good earnings and offered a fairly optimistic forecast for its next fiscal year. For its quarter ending September 27, EPS grew from $.01 last year to $.20 and revenue dipped slightly to $2.4 billion.

It needs to be granted that much of the improvement in Starbucks’ bottom line was due to brutal cost cutting, but the tactic worked and that has helped the stock triple in less than a year. Read More »

Posted on: November 6, 2009 – 5:56 am in Earnings, Editor's Picks,

Fannie Mae (FNM), In Trouble Again, Begs For $15 Billion

bearFannie Mae (NYSE:FNM) recorded a net loss of $18.9 billion for the third quarter of 2009. Including $883 million in dividends on the senior preferred stock, the net loss attributable to common stockholders was $19.8 billion, or $3.47 per diluted share.

For the third quarter of 2008, the net loss was $29.0 billion, and the net loss attributable to common stockholders was $29.4 billion, or $13.00 per diluted share. Read More »

Posted on: November 5, 2009 – 5:21 pm in Earnings, ,

Starbucks (SBUX) Caffinated

bucksStarbucks (NASDAQ:SBUX) posted good earnings .  Revenue for the quarter ending September 28, 2009 was $2.4 billion compared to $2.5 billion in the same quarter. For the period, EPS was $.20 compared to $.01 last year.

The news that heartened investors was that Starbucks CFO said “we are increasing our non-GAAP EPS outlook for fiscal year 2010 to a range of 15% to 20% growth over fiscal 2009.” Read More »

Posted on: November 5, 2009 – 4:55 pm in Earnings,

52-Week High Club

CareFusion Corp. (NYSE: CFN)  rose over 6% to a yearly hight of $24.34  after reporting first quarter earnings of 39 cents per share, beating analyst estimates.  The company also increased its earnings forecast for next year.

Viacom Inc. (NYSE: VIA) rose close to 4% to a yearly high of $31.63, continuing its rise following its earnings release.  The company posted a 15% increase in profits, to 76 cents per share.

Garrett W. McIntyre

Posted on: November 5, 2009 – 4:22 pm in Earnings, Healthcare, Media, ,

SIRIUS XM Heading Mostly in Right Direction (SIRI)

SIRIUS LogoTrusting analyst estimates on penny stocks and cult stocks is a tricky business.  But SIRIUS XM Radio Inc.(NASDAQ: SIRI) is trading up on heavy volume after its earnings this morning.  The satellite radio monopoly had a 27% revenue gain to $618.7 million, which included some of the XM Radio gains from the merger.  Earnings were a net loss of $149.2 million or -$0.04 EPS, but this included a charge of $138 million.  If you back out the charges and items, SIRIUS managed a non-GAAP $106 million profit vs a non-GAAP loss of $37 million a year ago.  On an EPS basis, that would break-even. The estimates from Thomson Reuters were -$0.02 non-GAAP EPS and $608.7 million in revenue.
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Posted on: November 5, 2009 – 9:20 am in Earnings, Media, Satellite,

The Cisco (CSCO) Kid Puts On A Rally Cap

TVRouter and video infrastructure giant Cisco (NASDAQ:CSCO) posted better-than-expected quarterly numbers for the period ending October 24, its first fiscal of the year. Revenue fell 13% to $9 billion. EPS was $.39, down 19%.  Cisco’s stock rose almost $1 to $24.17.

The company’s surprise announcement was that it will buy back $10 billion of stock. Cisco has as much M&A activity as any large tech company in the world. The idle cash being used for the buyback must not be needed for future acquisitions. Cisco’s board had previously authorized up to $62 billion in stock repurchases. Read More »

Posted on: November 4, 2009 – 4:15 pm in Earnings, Technology Companies,

Kraft’s (KFT) Latest Chess Move: Up Guidance Ahead Of Cadbury Bid

magazinKraft (NYSE:KFT) improved is chances of making a viable bid for Cadbury before the UK government deadline of November 9. The US company beat expectations and raised guidance. Its shares dropped 2% to $27.10, probably because the company’s shareholders feel that they are better off without the integration risks that a Cadbury deal represents.

Revenue declined 5.7% to $9.8 billion. Operating income increased 38.7% from the same quarter last year to $1.42 billion. EPS from continuing operations were $0.55. Read More »

Posted on: November 3, 2009 – 4:38 pm in Earnings,

True Religion: Raised Guidance A Warning (TRLG)

TRLG LogoThe great growth mystery of True Religion Apparel Inc. (NASDAQ: TRLG) might be coming in too light.  After the close of trading, the high-end, or at least high-priced, jean and apparel maker posted earnings of $0.58 EPS on $82.4 million in revenues.  While that is still growth in revenues, this is under the Thomson Reuters estimates of $0.59 EPS and $84.62 million in revenues.  There is “raised guidance” from the company, but there are issues despite revenues being up almost 4% from a year ago.
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Posted on: November 3, 2009 – 4:23 pm in Apparel, Earnings, Earnings Warning,

52-Week High Club

Burlington Northern Santa Fe Corp (NYSE: BNI) surged close to 30% to a yearly high of $97.59 following news that Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) will be buying the freight rail operator for $100 per share, which places the value of the company at $44 billion.

The Black & Decker Corporation (NYSE: BDK) rallied close to 30% to a yearly high of $61.79  following news that the tool makers has agreed to be purchased by Stanley Works (NYSE: SWK) in an all stock deal valued at $4.5 billion.

Cognizant Technology Solutions Corp (NASDAQ: CTSH) rose over 8% to a yearly high of $42.40.  The computer services and technology consulting company announced that its 3Q 09 profit rose roughly 21%, beating analyst estimates.  The company also raised its 2009 profit estimate to $1.88 per share from $1.78 per share.

Landry’s Restaurants (NYSE: LNY) rose over 25% to a yearly high of $13.99.  The restaurant, hospitality and entertainment company following rose on news that the company’s chief executive, Timothy J. Fertitta has agreed to purchase the company for $14.75 per share, or $1.2 billion.

Garrett W. McIntyre

Posted on: November 3, 2009 – 4:03 pm in Buffett, Consumer Goods, Earnings, Food, Hardware, Mergers and Buy Outs, Technology Companies, , , , , , ,