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WSJ.com: Earnings

Bank of America to Raise Capital
6 Oct 2008 at 4:46pm
Bank of America announced a surprise dividend cut and a plan to sell $10 billion in stock to raise capital, as third-quarter profits plunged amid a sharp deterioration in the outlook for consumer credit.

Nike's Profit Slips 10%
24 Sep 2008 at 8:08pm
Nike's first-quarter profit fell 10% despite strong overseas growth, as the company struggled against higher costs and the lack of a year-ago tax benefit.

Lennar Narrows Loss
23 Sep 2008 at 6:46am
Lennar reported a narrower net loss on a steep decline in write-downs and cost-cutting, though orders, deliveries and sales prices continued to drop as the cancellation rate rose.

Lowe's Remains Confident in Outlook
24 Sep 2008 at 5:44pm
Lowe's expects to more than double per-share earnings in five years despite the weakness in the home-improvement business.

Sales, Settlement Boost 3Com
22 Sep 2008 at 7:55pm
3Com swung to a profit in the latest quarter on higher sales and proceeds from a litigation settlement.

AutoZone's Net Rises 12%
22 Sep 2008 at 10:35am
AutoZone's net income rose 12% on increased revenue and margins as the latest period included an extra week.

Toshiba Cuts Full-Year Outlook
19 Sep 2008 at 6:30am
Toshiba lowered its sales and profit outlook for the full fiscal year, weighed down by its struggling chip business.

Database Sales Lift Oracle's Profit
18 Sep 2008 at 7:49pm
Oracle reported a 28% jump in its profit, and said it doesn't expect to be hurt by the meltdown among financial-service companies.

FedEx Posts Drop in Net
19 Sep 2008 at 3:19am
FedEx, posting a 22% drop in net, plans to raise prices in January and cut capital spending.

Palm Feels Sting of Competition
18 Sep 2008 at 10:47pm
Palm's loss widened as the maker of the Treo and Centro handsets faces stiff competition from rival devices like the BlackBerry and iPhone.

Pier 1's Net Loss Narrows
18 Sep 2008 at 6:14am
Pier 1's net loss narrowed as margins rose, though sales declined and the home-furnishings retailer withdrew its forecast for the year in light of economic uncertainties.

New York Times Revenue Falls
18 Sep 2008 at 12:37pm
New York Times' advertising revenue slipped again in August, falling 14% from a year earlier, as the newspaper sector continues to suffer from a migration to the Internet.

Seeking Alpha Earnings stocks

Earnings Preview: Yum! Brands
by theflyonthewall.com
6 Oct 2008 at 2:55pm

Yum! Brands (YUM) is expected to report Q3 earnings after market close Tuesday, October 7, with a conference call scheduled for Wednesday at 9:15 a.m. ET.

Guidance

Analysts are looking for a profit of 54c on revenue of $2.78B. The consensus range is 52c to 58c for EPS, and revenue of $2.67B to $2.85B, according to First Call. In July, Yum! forecast FY08 EPS $1.89 to $1.95 vs. First Call consensus of $1.90 and said it will "meet or exceed" FY08 profit targets despite commodity inflation.

Complete Story »

Timminco Benefits from Bailout
by FP Trading Desk
6 Oct 2008 at 2:17pm
FP Trading DeskFP Trading Desk submits:

The United States Treasury introduced the $700-billion bailout to try and save the economy from disaster. According to Paradigm Capital analyst J. Marvin Wolff, an odd side effect of that bailout could prove to be a big win for solar-grade silicon maker Timminco Ltd. (TIMNF.PK).

One piece of legislation that was attached to the bill extends investment tax credits in the solar industry to 2013. Mr. Wolff noted that this "bodes very well" for the solar industry just as it is building steam in the U.S., which should support strong pricing for solar-grade silicon.

Complete Story »

Copart Rated a Sell
by Robert Freedland
6 Oct 2008 at 1:58pm
Robert Freedland submits:

On Monday morning I sold my remaining 180 shares of Copart (CPRT) at $33.7488. My cost basis was approximately $33.72, so this was essentially a sale at 'break-even'. Copart has 'come back' somewhat since my sale, another case of my own bad timing, and is currently trading at $34.80, down $(2.84) or (7.55)% on the day.

With my own sale of shares, and the overall weak tone of the market, I cannot in good faith rate this stock a 'hold' even though there is nothing wrong that I am aware of, rather the stock is sinking along with the rest of the market. Thus:

Complete Story »

Analysts: Expecting a 30% Rally Over the Next 12 Months?
by TickerSense
6 Oct 2008 at 10:00am

According to Birinyi Associates' most recent bottoms up analysis on the S&P 500, a consensus of analysts covering those stocks expect the market to rally over 31% within the next year.  (This is calculated as if every stock were to reach its respective price target within the specified time - usually 1 year or 6 months.)  Anyone who has been watching stocks over the last 6 months probably knows, not thinks... knows, that Google (GOOG) for example will not rally to 620 within the next year.

Analysts are historically bullish on their stocks.  US Steel (X), for example, is trading at an estimated P/E of 2.7.  With the stock down 53% year-to-date, the people trading it obviously do not agree with the analysts.  Earnings season begins tomorrow.  We would not be surprised to see a string of estimate revisions and downgrades as these companies come closer to reporting.  With that in mind, market bottoms are sometimes associated with extreme negative sentiment.

Complete Story »

AngioDynamics: Strong Earnings Despite Diomed Baggage
by Douglas Cress
5 Oct 2008 at 5:25am
Douglas Cress submits:

The AP has a tendency to turn any earnings misstep into a headline. Such was the case with Thursday’s news that “AngioDynamics 1Q profit slips on lower laser sales”. The Business Review said, “AngioDynamics reports 7.1% drop in 1Q net income.”

While true, by most measures, AngioDynamics' (ANGO) first quarter was a resounding success.

Complete Story »

China Biotech in Review: Deals and Earnings
by ChinaBio Today
5 Oct 2008 at 5:01am
chinabiotodaynewlogo ChinaBio Today submits:

Last week in China, it was time for the National Day Holiday, and most of China took the week off, a celebration that put considerable constraint on news flow. Nevertheless, there were a few deals announced (and one that fell apart), and several companies released their financial results from the previous quarter as the current one came to a close. At ChinaBio Today, we interviewed Dr. Sofie Qiao, who delineated for us the business plan of the US-China biopharma she formed, LEAD Therapeutics. Among the deals that made news, China Biologic Products (CBPO.OB) said it had agreed to terms that will give it control of a competitor in the plasma-based pharmaceutical sector (see story). China Biologic will pay $28.5 million for a 90% stake in Chongqing Dalin Biologic Technologies Co. Dalin owns a 54% equity interest in Qianfeng Biological Products Co., Ltd., which has a 9.5% market share of China’s highly fragmented plasma-based biopharma space. China Biologic is responsible for 6.1% of the country’s plasma-based products. A 15.6% share would make the combined company the largest non-state owned business in the sector. The plasma business remains very fragmented: the six largest China companies in the sector (including Qianfeng) have a total market share of only about 50%. China Biologic projects synergies between the two entities, though it did not estimate a dollar value for them.

Complete Story »

Global Payments Rated a Buy
by Robert Freedland
5 Oct 2008 at 2:32am
Robert Freedland submits:

On Thursday, I wrote about my sale of Greif (GEF) on an 8% loss.  As I reminded my readers, my portfolio management strategy demands that I unload shares that hit pre-specified losses.  After an initial purchase, stocks that dip 8% are sold.  This limits my losses and enables me to preserve my gains. 

Also, I commented once again about the other part of my portfolio management strategy, that while not actually trying to 'time' the market, is designed to respond to market influences by shifting either into or out of cash and equities depending on the performance of my own holdings in my portfolio.

Complete Story »

Mellow Micron
by Sramana Mitra
3 Oct 2008 at 3:28am
sramana mitraSramana Mitra submits:

The financial markets are scary, and amidst this turbulence, earnings season is under way. Micron (MU) reported a larger-than-expected fourth quarter loss on Wednesday. The company was affected by the oversupply situation in the DRAM and NAND markets. Semiconductor prices continued to plunge and NAND ASP declines outpaced cost reductions; as a result Micron had to write-down its inventory for $205 million. 

Q4 net loss was $344 million or $0.45 per share, down from $158 million, or $0.21 per share last year. Revenue was up slightly y-o-y and down 3% q-o-q to $1.45 billion versus analyst estimates of $1.54 billion. Excluding the $205 million inventory write-down charge and a $70 million benefit for price adjustments for NAND flash memory bought in prior periods, net loss would have been $209 million, or $0.27 per diluted share, versus analyst estimates of $0.24 per share.

Complete Story »

GE Dilution Questioned
by FP Trading Desk
3 Oct 2008 at 2:15am
FP Trading DeskFP Trading Desk submits:

While much of the market is staying on the sidelines with cash in hand, Warren Buffett has made some major investments in names like Constellation Energy Group Inc. (CEG), Goldman Sachs Group Inc. (GS) and now General Electric Co. (GE).

His Berkshire Hathaway Inc. (BRK.A) announced plans to purchase $3-billion in perpetual preferred GE stock and warrants to buy 134.8 million common shares at any time in the next five years. The price tag was set at $22.25 a share, below GE's market price and nearly half of where it was trading a year ago. GE is also offering at least $12-billion in common shares to the public.

Complete Story »

Citigroup Analysts Rate Power Corp.'s Companies
by FP Trading Desk
3 Oct 2008 at 1:29am
FP Trading DeskFP Trading Desk submits:

Citigroup Global Markets has initiated coverage on Power Corp. of Canada [TSX: POW] and its member companies, telling clients that market volatility, pressured fundamentals and reasonable valuations adds up to a stand pat recommendation for each stock.

Citigroup said:

Complete Story »

Mosaic Company Falls Sharply
by Toro
3 Oct 2008 at 1:03am
Toro submits:

Mosaic (MOS) and the other fertilizer stocks got whacked.

click to enlarge

Complete Story »

Earnings Preview: Global Payments
by theflyonthewall.com
2 Oct 2008 at 2:57pm

Global Payments (GPN) is expected to report Q1 earnings after market close Thursday, October 2, with a conference call scheduled for 5:00 p.m. ET.

Guidance

The consensus estimate is 60c for EPS and $395.73M for revenue, according to First Call.

Complete Story »

Earnings Preview: Lawson Software
by theflyonthewall.com
2 Oct 2008 at 2:01pm

Lawson Software (LWSN) is expected to report Q1 earnings Thursday after market close, with a conference call scheduled for 4:30 pm ET.

Guidance

The consensus estimate is 5c for EPS and $191.01M for revenue, according to First Call.

Complete Story »

Auto Industry Recovery Once Again Postponed
by Trader Mark
2 Oct 2008 at 10:58am
Trader Mark submits:

I said in late 2007 (when many were arguing there would be no recession and in fact everything was fine since the Federal Reserve had our back) that 2008 would be the worst year in two decades for auto sales. Ford's (F) numbers are out and they are staggering (down 34%). Yet another group of companies who promised "second half recovery" back in the spring.

Tight credit, economic worries and high gasoline prices combined to cut Ford Motor Co.'s U.S. sales once again in September, with the beleaguered automaker reporting a 34 percent decline from the same month last year.It was Ford's worst sales month this year, and the results are a strong indication that analysts' forecasts of another dismal month will come true.Analysts have predicted September declines of more than 20 percent for most major automakers when compared with the same month last year as upheaval in the financial markets unnerved consumers.

Many Americans were buying autos with their house ATM. Again, a year ago at this time, along with Paulson's " subprime is contained" sing song, we were treated to "what is the fuss about the general economy? housing is only 4.5% of GDP" sing a long on CNBC. Now you are going to see the lagged effect of the "fuss" a few of us were making.

Complete Story »

The Market Hates Mosaic: Phosphates Not Up to Snuff
by Trader Mark
2 Oct 2008 at 10:34am
Trader Mark submits:

Well, the market is not at all happy with Mosaic's (MOS) results. When you take a step back and look at the big picture everything still looks fine, but the stock market is not about the big picture - only "beating estimates" and/or "raising guidance"; if you don't, you are toast. Mosaic is now toast based on how people will treat it.

The stock is now lower than it was a year ago, despite these metrics:

Complete Story »

Transcripts from Seeking Alpha

Zila, Inc. F4Q08 (Qtr End 07/31/08) Earnings Call Transcript
6 Oct 2008 at 5:45pm

Zila, Inc. (ZILA)

Q4 2008 Earnings Call

Complete Story »

Leading Brands F2Q08 (Qtr End 8/31/08) Earnings Call Transcript
6 Oct 2008 at 1:32pm

Leading Brands, Inc. (LBIX)

F2Q08 Earnings Call

Complete Story »

American International Group Business Update Call Transcript
3 Oct 2008 at 2:52pm

American International Group (AIG)

Business Update Call

Complete Story »

Family Dollar Stores, Inc. F4Q08 (Qtr End 08/31/08) Earnings Call Transcript
3 Oct 2008 at 1:35pm

Family Dollar Stores, Inc. (FDO)

Q4 2008 Earnings Call

Complete Story »

Corel Corporation F3Q08 (Qtr End 08/31/08) Earnings Call Transcript
3 Oct 2008 at 11:10am

Corel Corporation (CREL)

F3Q08 Earnings Call

Complete Story »

Wells Fargo Acquisition of Wachovia Conference Call Transcript
2 Oct 2008 at 11:03pm

Wells Fargo & Company (WFC)

Wells Fargo Acquisition of Wachovia (WB) Conference Call

Complete Story »

Resources Connection, Inc. F1Q09 (Qtr End 08/31/08) Earnings Call Transcript
2 Oct 2008 at 10:35pm

Resources Connection, Inc. (RECN)

Complete Story »

DemandTec, Inc. F2Q09 (Qtr End 08/31/08) Earnings Call Transcript
2 Oct 2008 at 9:57pm

DemandTec, Inc. (DMAN)

F2Q09 Earnings Call

Complete Story »

Global Payments, Inc. F1Q09 (Qtr End 08/31/08) Earnings Call Transcript
2 Oct 2008 at 9:55pm

Global Payments, Inc. (GPN)

F1Q09 Earnings Call

Complete Story »

AngioDynamics F1Q09 (Qtr End 8/31/08) Earnings Call Transcript
2 Oct 2008 at 9:32pm

AngioDynamics, Inc. (ANGO)

F1Q09 Earnings Call

Complete Story »

Lawson Software F1Q09 (Qtr End 8/31/08) Earnings Call Transcript
2 Oct 2008 at 6:14pm

Lawson Software, Inc. (LWSN)

F1Q09 Earnings Call

Complete Story »

MSCI Inc. F3Q08 (Qtr End 08/31/08) Earnings Call Transcript
2 Oct 2008 at 5:53pm

MSCI Inc. (MXB)

F3Q08 Earnings Call

Complete Story »

Orleans Homebuilders, Inc. F4Q08 (Qtr End 06/30/08)Earnings Call Transcript
2 Oct 2008 at 4:43pm

Orleans Homebuilders, Inc. (OHB)

F4Q08 Earnings Call

Complete Story »

Crosstex Energy, L.P. Business Update Call Transcript
2 Oct 2008 at 3:58pm

Crosstex Energy, L.P. (XTEX)

Business Update Call

Complete Story »

Mosaic Co. F1Q09 (Qtr End 08/31/08) Earnings Call Transcript
2 Oct 2008 at 3:43pm

Mosaic Co. (MOS)

F1Q09 Earnings Call

Complete Story »

DailyWallStreet.com: NYSE Analyst Feed

CDI "market outperform," target price raised
24 Sep 2007 at 6:15am
NEW YORK, September 24 (dailywallstreet.com) - Analyst William Sutherland of Boenning & Scattergood maintains his "market outperform" rating on CDI Corporation (ticker: CDI), while reducing his estimates for the company. The target price has been raised from $36 to $38.

Tektronix "neutral," target price reduced
24 Sep 2007 at 6:06am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Robert W Baird maintain their "neutral" rating on Tektronix Inc (ticker: TEK), while reducing their estimates for the company. The target price has been reduced from $37 to $35.

Silicon Laboratories "buy," target price raised
24 Sep 2007 at 6:04am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Deutsche Bank Securities reiterate their "buy" rating on Silicon Laboratories Inc (ticker: SLAB). The target price has been raised from $43 to $47.

RehabCare "market perform," estimates raised
24 Sep 2007 at 6:01am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Morgan Keegan maintain their "market perform" rating on RehabCare Group (ticker: RHB), while raising their estimates for the company.

Tektronix "neutral," estimates reduced
24 Sep 2007 at 5:52am
NEW YORK, September 24 (dailywallstreet.com) - Analyst W Stein of Credit Suisse maintains his "neutral" rating on Tektronix Inc (ticker: TEK), while reducing his estimates for the company. The target price is set to $33.

Nokia "buy," price objective raised
24 Sep 2007 at 5:44am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at AG Edwards reiterate their "buy" rating on Nokia Corp (ticker: NOK). The 12-18 month price objective has been raised from $36 to $43.

FedEx "neutral," target price reduced
24 Sep 2007 at 3:58am
NEW YORK, September 24 (dailywallstreet.com) - Analyst J H Seidl of Credit Suisse maintains his "neutral" rating on FedEx Corporation (ticker: FDX), while reducing his estimates for the company. The target price has been reduced from $115 to $114.

Nautilus "neutral," target price reduced
24 Sep 2007 at 3:55am
NEW YORK, September 24 (dailywallstreet.com) - Analyst Reed Anderson of DA Davidson maintains his "neutral" rating on Nautilus Inc (ticker: NLS). The 12-18 month target price has been reduced from $10 to $9.

Circuit City "hold," target price reduced
24 Sep 2007 at 3:54am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Deutsche Bank Securities maintain their "hold" rating on Circuit City (ticker: CC). The target price has been reduced from $11 to $9.

Genentech initiated with "buy" - update
21 Sep 2007 at 2:48pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Maged Shenouda of UBS initiates coverage of Genentech Inc (ticker: DNA) with a "buy" rating. The 12-month target price is set to $101.

AMB Property "buy," target price raised - update
21 Sep 2007 at 2:28pm
NEW YORK, September 21 (dailywallstreet.com) - Analysts at UBS maintain their "buy" rating on AMB Property (ticker: AMB), while raising their estimates for the company. The 12-month target price has been raised from $66 to $68.

PNC Financial Services "equal weight," target price reduced
21 Sep 2007 at 2:08pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Jason M Goldberg of Lehman Brothers maintains his "equal weight" rating on PNC Financial Services Group (ticker: PNC), while reducing his estimates for the company. The target price has been reduced from $80 to $79.

Marshall & Ilsley "equal weight," target price reduced - update
21 Sep 2007 at 2:01pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Jason M Goldberg of Lehman Brothers maintains his "equal weight" rating on Marshall & Ilsley Corp (ticker: MI), while reducing his estimates for the company. The target price has been reduced from $51 to $50.

JPMorgan Chase "overweight," target price reduced - update
21 Sep 2007 at 2:01pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Jason M Goldberg of Lehman Brothers maintains his "overweight" rating on JPMorgan Chase & Co (ticker: JPM), while reducing his estimates for the company. The target price has been reduced from $60 to $58.

Wachovia "overweight," target price reduced - update
21 Sep 2007 at 1:51pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Jason M Goldberg of Lehman Brothers maintains his "overweight" rating on Wachovia Corp (ticker: WB), while reducing his estimates for the company. The target price has been reduced from $66 to $62.

DailyWallStreet.com: NASDAQ Analyst Feed

Comtech Telecommunications "buy," price objective raised
24 Sep 2007 at 5:50am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at AG Edwards reiterate their "buy" rating on Comtech Telecommunications Corp (ticker: CMTL), while raising their estimates for the company. The price objective has been raised from $50 to $58.

Ziopharm Oncology initiated with "market outperform"
24 Sep 2007 at 4:47am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Rodman & Renshaw initiate coverage of Ziopharm Oncology Inc (ticker: ZIOP) with a "market outperform" rating. The target price is set to $8.

Maxygen "market outperform," target price reduced
24 Sep 2007 at 4:44am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Rodman & Renshaw reiterate their "market outperform" rating on Maxygen Inc (ticker: MAXY), while reducing their estimates for the company. The target price has been reduced to $9.

Cree downgraded to "market perform"
24 Sep 2007 at 4:35am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Morgan Keegan downgrade Cree Inc (ticker: CREE) to "market perform."

ADTRAN "neutral," target price reduced
24 Sep 2007 at 4:17am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Robert W Baird maintain their "neutral" rating on ADTRAN Inc (ticker: ADTN), while reducing their estimates for the company. The target price has been reduced from $28 to $24.

Oracle "outperform," target price raised
24 Sep 2007 at 4:00am
NEW YORK, September 24 (dailywallstreet.com) - Analyst J Maynard of Credit Suisse reiterates his "outperform" rating on Oracle Corporation (ticker: ORCL). The target price has been raised from $24 to $26.

Pool "neutral," target price reduced
24 Sep 2007 at 3:58am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Robert W Baird maintain their "neutral" rating on Pool Corporation (ticker: POOL), while reducing their estimates for the company. The target price has been reduced from $40 to $30.

Optium "outperform," target price reduced
24 Sep 2007 at 3:57am
NEW YORK, September 24 (dailywallstreet.com) - Analyst P Silverstein of Credit Suisse maintains his "outperform" rating on Optium Corporation (ticker: OPTM), while revising his estimates for the company. The 12-month target price has been reduced from $19 to $16.

Susser Holdings upgraded to "outperform"
24 Sep 2007 at 2:58am
NEW YORK, September 24 (dailywallstreet.com) - Analysts at Morgan Keegan upgrade Susser Holdings Corporation (ticker: SUSS) from "market perform" to "outperform."

Brocade Communications Systems "market outperform," target price raised - update
24 Sep 2007 at 2:53am
NEW YORK, September 24 (dailywallstreet.com) - Analyst Samuel Wilson of JMP Securities maintains his "market outperform" rating on Brocade Communications Systems (ticker: BRCD), while raising his estimates for the company. The target price has been raised from $8.50 to $9.50.

Zions Bancorporation "equal weight," target price reduced - update
21 Sep 2007 at 2:02pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Jason M Goldberg of Lehman Brothers maintains his "equal weight" rating on Zions Bancorporation (ticker: ZION), while reducing his estimates for the company. The target price has been reduced from $88 to $87.

Pool downgraded to "market perform"
21 Sep 2007 at 1:27pm
NEW YORK, September 21 (dailywallstreet.com) - Analysts at Morgan Keegan downgrade Pool Corporation (ticker: POOL) to "market perform," while reducing their estimates for the company.

Topps downgraded to "hold" - update
21 Sep 2007 at 1:26pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Jeffrey Blaeser of Morgan Joseph downgrades Topps Co Inc (ticker: TOPP) to "hold."

Sanderson Farms downgraded to "hold" - update
21 Sep 2007 at 1:26pm
NEW YORK, September 21 (dailywallstreet.com) - Analyst Oliver Wood of Stifel Nicolaus & Company downgrades Sanderson Farms Inc (ticker: SAFM) from "buy" to "hold."

Oracle "hold," target price raised
21 Sep 2007 at 1:03pm
NEW YORK, September 21 (dailywallstreet.com) - Analysts at Deutsche Bank Securities reiterate their "hold" rating on Oracle Corporation (ticker: ORCL). The target price has been raised from $21 to $22.

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