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Sun Hung Kai Profit Surges
11 Mar 2010 at 3:59am
Hong Kong developer Sun Hung Kai Properties said first-half net profit was nearly 20 times that of a year earlier on gains from property revaluations.

Myer Posts 38% Net Profit Rise
11 Mar 2010 at 12:17am
Myer Holdings said first-half net profit rose 38% as the newly listed Australian department store continues to turn its business around despite slower sales growth.

Swire Profit Jumps 62%
11 Mar 2010 at 4:49am
Swire Pacific posted a 62% increase in its 2009 underlying profit, driven by affiliate Cathay Pacific 's return to profit on fuel-hedging gains and resilient rental income.

Lufthansa: 2010 Profit to Rise
11 Mar 2010 at 3:17am
The German flagship airline expects operating profit and revenue to rise in 2010, but said risks remain that could jeopardize an improvement of its business performance.

McDonald's Posts Robust Sales
8 Mar 2010 at 3:21pm
McDonald's reported a 4.8% sales rise in February for restaurants open at least a year, led by strong overseas gains.

Citic Pacific Reports Profit
10 Mar 2010 at 9:53am
Citic Pacific swung to a net profit in 2009, after losses on leveraged foreign-exchange contracts led to a net loss a year earlier.

Surprise Loss for Deutsche Post
9 Mar 2010 at 4:22am
The German mail and logistics company said it expects 2010 earnings to increase as a recovery in the hard-hit sector ensues, even as it reported a surprise fourth-quarter net loss that missed analysts' expectations.

Recession Marks WPP Results
5 Mar 2010 at 6:46pm
The global advertising giant reported flat net profit for 2009 as its business began to improve, but CEO Martin Sorrell projected flat revenue for 2010 and said a true rebound isn't yet in sight.

Standard Posts Earnings Drop
4 Mar 2010 at 7:19pm
The largest African lender by assets said its earnings fell 21% last year as bad debts rose and its business was dented by the global recession.

CKI Plans Bid for EDF Unit
4 Mar 2010 at 11:53am
Cheung Kong Infrastructure said its 2009 net profit rose 26% on disposal gains from an asset sale and said it plans to bid for the U.K. arm of Electricite de France.

Canadian Bank Results Take the Gold
4 Mar 2010 at 10:12pm
Toronto-Dominion Bank said its quarterly profit nearly doubled from a year ago, rounding out another strong earnings season for Canadian banks.

Hutchison Unit Restates Profit
4 Mar 2010 at 8:59pm
Billionaire Li Ka-shing's company wiped away roughly US$97 million in profit from its 2008 financial results at the prodding of U.S. regulators, a move its parent company said wouldn't affect its US$545 million offer to take full control of the unit.

U.S. Investigates Bearish Euro Bets
3 Mar 2010 at 10:33am
The Justice Department launched an investigation into whether some well-known hedge funds banded together to drive down the euro's value.

Home Builder Hovnanian Swings to Profit
3 Mar 2010 at 10:59am
Hovnanian swung to a profit, becoming the latest home builder to benefit from a federal tax credit while reporting fewer write-downs and its lowest cancellation rate since 2005.

Foot Locker Swings to Profit
3 Mar 2010 at 8:26pm
Foot Locker swung to a profit from a loss a year earlier—when the company reported steep write-downs—while sales topped Wall Street's expectations.
Is Buffalo Wild Wings (BWLD) Still a Growth Opportunity?
by Chuck Carnevale
12 Mar 2010 at 10:21am
Chuck Carnevale submits:

SMID Research

This is the first installment of an offering of our FAST Graphs (Fundamentals Analyzer Software Tool) articles we intend to periodically publish on SMID (small and mid-cap companies). Our objective is to offer articles on smaller, less followed companies that by the numbers appear worthy of further research based on fundamentals-at-a-glance.

Complete Story »

Still Smokin': Potash Corp. Significantly Raises Its Q1 Guidance
by David White
12 Mar 2010 at 7:34am
David White submits:

After hours Thursday, Potash Corp. (POT) raised its Q1 2010 guidance from a range of $.70-$1.00 to a range of $1.30-$1.50. This is a $.50 raise on the high end. The analysts’ average estimate for Q1 EPS had been $.94. If you add $.50 to that, you get $1.44 (a +53% raise). If more conservatively you add $.55 to the previously median value of $.85, you get $1.40 (a +49% raise). Let’s just go with a 50% raise from the analysts’ previous estimate. Since most would concede that POT CEO Bill Doyle is basically an honest, straight forward guy, one has to think this news is real. At the very least the Q1 guidance should be locked in.

According to Bill Doyle, CEO of Potash, "Strong farmer returns, a depleted distributor pipeline, and the agronomic need to replace soil nutrients have kick-started a potash rebound from 2009 lows. While we know that growth does not follow a straight upward line, we believe the increase in potash sales volumes this quarter represents the beginning of a return to long-term growth in demand." (CNW Group) In other words, there are more buyers, the middlemen’s stores are depleted (so they will not negatively impact a price rise), and the farm soils need the nutrients. In addition to the increase in Potash demand, Mr. Doyle also cited higher-than-expected margins in nitrogen and phosphate.

Complete Story »

Wall Street Breakfast: Must-Know News
by SA Editor Rachael Granby
12 Mar 2010 at 6:18am

S&P gains some altitude. The S&P 500 closed at 1,150.24, a 17-month closing high, thanks to a late rally led by bank shares. Financial stocks continued their recent gains amid speculation that new banking regulations being studied by Congress could be watered down. Everything you ever wanted to know about Lehman's failure. A court-appointed examiner has at long last released his report on Lehman Brothers' (LEHMQ.PK) failure. Among the most salient points in the 2,200 page report: Though the firm's directors didn't breach a fiduciary duty as it gathered toxic mortgages, their conduct was "subject to question." Misleading statements were certified by CEO Dick Fuld, CFO Erin Callan and others, and the firm was insolvent for weeks before it filed for bankruptcy. JPMorgan Chase (JPM) and Citigroup (C) helped cause the illiquidity that led to Lehman's collapse. Some assets were "improperly transferred" in Lehman's deal with Barclays (BCS). U.S. credit rating at risk. The triple-A credit rating of the U.S. is at risk, warned ratings agency S&P, unless the country creates a credible medium-term plan to rein in fiscal spending. If no action is taken, "external creditors could reduce their U.S. dollar holdings, especially if they conclude that eurozone members are adopting stronger macroeconomic policies." This could hurt the dollar's status as a global reserve currency and consequently "weigh on the AAA rating on the U.S." Agrium abandons CF bid, Yara abandons Terra bid. Agrium (AGU) has abandoned its $5.4B bid for CF Industries (CF), ending one part of the fertilizer war that's been going on for more than a year. The second part of that war was brought to a close this morning, when Yara International said it would not raise its $4.1B offer for Terra Industries (TRA) to meet CF's "superior" $4.7B offer. The two moves pave the way for CF to acquire Terra, as it planned.China tells U.S. to back off yuan appreciation calls. Chinese officials warned the U.S. not to make a political issue out of the yuan, while the White House is trying to decide whether to label China as a "currency manipulator" and yesterday called on the country to move to a "more market-oriented exchange rate." China said the U.S. should look to itself to boost exports (see below) and not blame other countries. Obama eyes Yellen for Fed slot. Obama reportedly plans to tap Janet Yellen to be vice chairman of the Federal Reserve Board. Yellen has been president of the Federal Reserve Bank of San Francisco since 2004 and a strong supporter of Bernanke's policies. Goldman gets go-ahead for ResCap sale. Sources say GMAC (GKM) has hired Goldman Sachs (GS) to sell its troubled mortgage unit ResCap. Warren Buffett (BRK.A), who already owns a chunk of the ResCap's debt, is seen as a likely buyer. U.S. export uptick at risk. A recovery in Asia and a weaker dollar are contributing to an upsurge in U.S. exports, but the trend could be cut short because of shipping bottlenecks which have left goods stranded in warehouses and shipping containers. During the recession, shipping rates dropped below the cost of operation for some routes, which led to carriers idling ships, cutting trips to the U.S., and reducing the speed at which their ships travel to save fuel. Many shippers have not yet reversed these measures, resulting in the current shipping shortage. Financial reform is coming. Sen. Chris Dodd failed to drum up bipartisan support for the financial reform bill, but said he's moving forward anyway. Though Dodd's decision to break off negotiations with Republicans could speed the bill's progress, it also makes it more likely that a substantive regulatory overhaul won't get approved. Dodd plans to introduce the legislation on Monday. EU pushing forward on hedge fund rules. The U.K.'s Gordon Brown and France's Nicolas Sarkozy will meet today to try to reach a compromise on proposed EU financial reforms. Specifically, the U.S. and U.K. are concerned that the tighter regulatory controls proposed could hurt the hedge fund and private equity industries. Americans are regaining wealth, but not spending it. There were some encouraging signs to be found in yesterday's Flow of Funds report. Though the gain was slight, household net worth rose 1.3% last quarter to $54.2T, the third consecutive quarterly gain. However, Americans' net worth would have to rise another 21% to return to its pre-recession peak of $65.9T. Real estate holdings edged up 0.2%, and the value of stocks climbed 4%. Household debt contracted at an annualized 1.75% in 2009, the first annual decline since records began in 1945. NHTSA wants more power over auto industry. As it comes under question for its handling of Toyota's (TM) safety problems, the National Highway Traffic Safety Administration may ask Congress for more authority to regulate the auto industry. The agency plans to take a "hard look" at its power to set safety standards, and warns current authority may be outdated given the modern technology used in cars. One lawmaker responded that the NHTSA's problems seem to have more to do with "ineptitude" and lack of money than with insufficient powers. Comcast-NBC deal to be reviewed. Federal antitrust regulators promised to undertake a rigorous review of the proposed deal between Comcast (CMCSA) and NBC (GE). Though many industry analysts expect the deal to be conditionally approved, lawmakers expressed concern at a hearing yesterday that combining both content and distribution into one company would potentially leave consumers with less programming and higher prices. AIG employees pay back $45M. AIG (AIG) will reportedly recoup $45M in controversial retention payments it made to employees in 2009. Employees have agreed to give back $40M, and the remaining $5M will be deducted from 2010 retention payments that were going to be paid to former AIG employees. Chicago exchange to get its IPO. As expected, the Chicago Board Options Exchange filed for an initial public offering in which it plans to raise as much as $300M. The IPO will be completed by the end of the second quarter, "pending favorable market conditions." Friday's failures come a bit early. Regulators closed New York City's LibertyPointe Bank yesterday, bringing this year's failures up to 27. The closure is estimated to cost the FDIC's insurance fund $24.8M.

Earnings: Thursday After Close

Aeropostale (ARO): Q4 EPS of $0.99 beats by $0.04. Revenue of $801M (+16.1%) vs. $798M. Sees Q1 EPS above consensus. Shares +3.9% AH. (PR) Goldcorp (GG): Q4 EPS of $0.25 in-line. Revenue of $778M (+27.8%) vs. $732M. Shares +0.2% AH. (PR) Kodiak Oil & Gas (KOG): Q4 EPS of $0.00 misses by $0.01. Revenue of $4.8M (+292.6%) vs. $5.6M. (PR) National Semiconductor (NSM): FQ3 EPS of $0.22 beats by $0.04. Revenue of $362M (+24%) vs. $349M. Shares +4.6% premarket. (PR) Pall Corp. (PLL): Q1 EPS of $0.42 misses by $0.05. Revenue of $560M (+3.1%) vs. $589M. Guides FY10 EPS below consensus. Shares -4.2% AH. (PR) Quiksilver (ZQK): FQ1 EPS of -$0.02 beats by $0.09. Revenue of $433M (-2.4%) vs. $413M. Shares -1.3% AH. (PR)

Today's Markets

Asian markets were mixed to finish off the week. Europe is higher, and futures are up a drop in light overnight trading.

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TiVo Upped to Neutral on Impressive Wave of Success
by Zacks.com
12 Mar 2010 at 5:24am
Zacks.com submits:

We are upgrading TiVo Inc. (TIVO) to Neutral from our previous Underperform rating on its better-than-expected fourth-quarter 2010 results driven by higher revenues. TiVo recently reported a net loss of 9 cents per share for the fourth quarter of fiscal 2010, 3 cents above the Zacks Consensus Estimate of a loss of 12 cents per share but down from the prior-year quarter. The company had reported a loss of 4 cents per share in the fourth quarter of 2009 due to higher R&D and litigation expenses.

Complete Story »

Earnings Preview: National Semiconductor Corp.
by theflyonthewall.com
11 Mar 2010 at 2:48pm
theflyonthewall.com submits:

National Semiconductor Corp. (NSM) is expected to report Q3 earnings after the market close on Thursday, March 11, with a conference call scheduled for 4:30 pm ET.

Guidance

The consensus estimate is 18c for EPS and $348.58M for revenue, according to First Call.

Complete Story »

Cautious Outlook on McKesson
by Zacks.com
11 Mar 2010 at 1:22pm
Zacks.com submits:

McKesson Corp. (MCK) reported in-line results for the third quarter of fiscal 2010. Earnings came in at $1.19 per share, in line with the Zacks Consensus Estimate, and 13% above the year-ago profit of $1.05. Meanwhile, revenues increased 4% to $28.3 billion, driven by the strong performance of the Distribution Solutions business.

Although the Distribution Solutions segment grew 4% to $27.5 billion, the loss of two customer buying groups in the U.S. continued to impact the performance of this segment. We believe performance will continue to be impacted by lost business through the remainder of the year.

Complete Story »

IMAX’s Valuation Is in Fantasy Land
by Ockham Research
11 Mar 2010 at 1:18pm
Ockham Research submits:

Imax Corp. (IMAX), which operates giant screened movie theatres as well as licenses the technologies to third parties, reported an outstanding fiscal fourth quarter 2009 on Thursday morning. The company benefited from the blockbuster success of Avatar, which is arguably one of the most visually appealing movies ever made. The high screen quality as well as the ability to show 3D films was a key reason for Imax’s surging revenue in the quarter. To date, Avatar on its own has been responsible for $218 million in box office revenue at IMAX theatres. In the recent quarter, sales rose 98% to $54.2 million and easily topped analysts’ estimates of $45.3 million. Earnings came in at $.20 per share easily topping the analysts’ view of 6 cents due to the greatly increased traffic due to feature films like Avatar.

In addition to Avatar, IMAX appears to have another huge blockbuster on its hands as just last week Alice in Wonderland shattered previous IMAX opening weekend sales totals.IMAX Globally, IMAX sold $15.2 mln in tickets with nearly 80% of that from US theatre locations. The success of the movie’s opening weekend sent IMAX shares more than 18% higher in three trading days coming into the earnings report. Furthermore, the company said that box office sales to date this year have been $187 mln, blowing away the results from a year ago at this point of only $14 mln. It is clear that IMAX is really hitting its stride and growth should continue through the next few months with new installments in the successful movie franchises of Iron Man, Shrek, and the Twilight series.

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Force Protection Stuns Investors
by Zachary Scheidt
11 Mar 2010 at 1:11pm
Zachary ScheidtZachary Scheidt submits:

Force Protection Inc. (<a href='http://seekingalpha.com/symbol/frpt' alt='Force Protection, Inc. ' title='Force Protection, Inc. '>FRPT</a>)Investors in Force Protection Inc. (FRPT) were eagerly awaiting the company’s earnings report when the market closed on Monday. After trading in a range between $4.00 and $5.00 for eight months, the company was overdue to report some positive news. The release did not disappoint and by the time the market opened Tuesday morning, buyers were falling all over eachother to get their hands on the stock.

Force Protection is a manufacturer of armored vehicles and other products that increase survival rates on the battle field. With the United States and a number of allies in a sustained war against terror on several fronts, there is significant demand for FRPT’s products. This was made clear as the company announced revenue of $289 million which represents a 21% increase over the fourth quarter last year. Management attributed the increase to modernization, spares, and its sustainment business lines. Offsetting the strength was a lower number of vehicles which were shipped.

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Royal Dutch Shell: Cautious Outlook, Nice Dividend
by Kurt Wulff
11 Mar 2010 at 7:55am
Kurt Wulff (McDep Associates) submits:

Buy-recommended Royal Dutch Shell (RDS.A) offers unlevered appreciation potential of 33% to a McDep Ratio of 1.0 where stock price would equal Net Present Value (NPV) of $79 a share. Fourth quarter results released today disclosed unlevered cash flow (Ebitda) below our expectations of three months ago in the upstream business as a result of higher costs recorded in the quarter. Ebitda was also lower in the downstream as the refining environment deteriorated. NPV remains supported by cash flow and reserve life in an industry context.

Cautious about the economic outlook, Chief Executive Peter Voser focuses on projects to bring on new upstream volume and on pruning the weakest refineries downstream. Further staff reductions and cost savings are expected in 2010. Because natural gas prices in long-term contracts automatically lag oil price, there are built-in gains coming in the next quarters. Albeit at continuing low levels, refining margins are expected to be better than the lowest levels in the fourth quarter.

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Imperial Oil Makes New Resource Effort in Horn River
by Kurt Wulff
11 Mar 2010 at 7:49am
Kurt Wulff (McDep Associates) submits:

Contrarian Buy-recommended Imperial Oil (IMO) offers unlevered appreciation potential of 28% to a McDep Ratio of 1.0 where stock price would equal Net Present Value (NPV) of US$48 a share. Fourth quarter results released on February 2, disclosed unlevered cash flow (Ebitda) exceeding our expectations of three months ago in the upstream business while falling short in the downstream. NPV appears supported by cash flow and reserve life in an industry context.

In a new resource effort, the second winter drilling season is underway in the Horn River area of northeast British Columbia. Imperial and Exxon (XOM) have a 50/50 joint venture which holds the largest land position in the emerging shale gas play. The partners increased their acreage position 50% to 309,000 net acres from 192,000.

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Men’s Wearhouse Beats Estimates, Sells Off on Revenue Concerns
by wall street cheat sheet
11 Mar 2010 at 7:29am
Wall Street Cheat Sheet submits:

by David Gibbs

Shares of Men’s Wearhouse (MW) are selling off after-hours as the retailer of discount formalwear reported lighter-than-expected revenues Wednesday after the bell. The Houston, TX based company reported an EPS loss of $0.11 for the quarter, nearly doubling its losses from the same period last year, but nevertheless beating Street estimates of losses of $0.16/share. Revenue fell 4% year-over-year, coming in light at $457.2 million vs. consensus estimates of $465.9 million, pressuring shares. Gross margins before occupancy costs were down 105 bps.

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TiVo Beats on Higher Revenues
by Zacks.com
10 Mar 2010 at 4:07pm
Zacks.com submits:

TiVo Inc. (TIVO) reported a net loss of 9 cents per share for the fourth quarter of fiscal 2010, 3 cents above the Zacks Consensus Estimate of a loss of 12 cents per share but fell from the prior-year quarter. The company had reported a loss of 4 cents per share in the fourth quarter of 2009.

Although revenue growth was encouraging in the quarter driven by higher hardware sales, growing costs and reduced subscriber additions led to lower profitability. TiVo is not immune to the current challenging economic environment and is facing erosion of its subscriber base.

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Estimated Earnings Growth for Q1 '2010 and Beyond
by Bespoke Investment Group
10 Mar 2010 at 12:13pm
Hickey and Walters (Bespoke) submit:

Below we highlight the estimated year-over-year earnings growth for the S&P 500 for the next three quarters, along with expected growth ex financials. While ex-financials growth was low in Q4 '09, it is also beginning to pick up again. For the first quarter, S&P 500 earnings are expected to be up 28.7% versus Q1 '09. Earnings are expected to grow 28.6% in Q2 '10, and then drop a little to 22.3% in the third quarter.

click to enlarge

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Alimentation Couche-Tard: Soft Fuel Sales Lead to Disappointing Earnings
by Market Blog
10 Mar 2010 at 11:43am
Market Blog submits:

By David Berman

Alimentation Couche-Tard Inc. (ANCTF.PK) reported disappointing earnings on Tuesday, sending the stock down 5.9%. On Wednesday, the stock was down again as the reality of the slow U.S. economic recovery sinks in.

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McDonald's' Consistent Above-Average Growth and Income
by Chuck Carnevale
10 Mar 2010 at 10:17am
Chuck Carnevale submits:

History

Oak Brook, Illinois based McDonald's is the leading fast food hamburger chain in the world.

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Verenium Corporation Q4 2009 Earnings Call Transcript
12 Mar 2010 at 5:55am

Verenium Corporation (VRNM)

Q4 2009 Earnings Call

March 11, 2010 5:00 pm ET

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Ener1, Inc. Q4 2009 Earnings Call Transcript
11 Mar 2010 at 11:05pm

Ener1, Inc. (HEV)

Q4 2009 Earnings Call

March 11, 2010 5:00 pm ET

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UTStarcom, Inc. Q4 2009 Earnings Call Transcript
11 Mar 2010 at 10:47pm

UTStarcom, Inc. (UTSI)

Q4 2009 Earnings Call

March 11, 2010 5:00 pm ET

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NaviSite, Inc. F2Q10 (Qtr End 01/31/10) Earnings Call Transcript
11 Mar 2010 at 10:02pm

NaviSite, Inc. (NAVI)

F2Q10 (Qtr End 01/31/10) Earnings Call

March 11, 2010 5:00 pm ET

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National Semiconductor Corporation F3Q10 (Qtr End 02/28/10) Earnings Call Tra...
11 Mar 2010 at 9:48pm

National Semiconductor Corporation (NSM)

F3Q10 (Qtr End 02/28/10) Earnings Call

March 11, 2010 4:30 pm ET

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Pacific Sunwear of California, Inc. Q4 2009 Earnings Call Transcript
11 Mar 2010 at 9:30pm

Pacific Sunwear of California, Inc. (PSUN)

Q4 2009 Earnings Call

March 11, 2010 4:30 pm ET

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Quiksilver, Inc. F1Q10 Earnings Call Transcript
11 Mar 2010 at 9:19pm

Quiksilver, Inc. (ZQK)

F1Q10 Earnings Call

March 11, 2010 4:30 PM EST

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IDT Corporation F2Q10 (Qtr End 01/31/10) Earnings Call Transcript
11 Mar 2010 at 8:57pm

IDT Corporation (IDT)

F2Q10 (Qtr End 01/31/10) Earnings Call

March 11, 2010 5:30 pm ET

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XOMA Ltd. Q4 2009 Earnings Call Transcript
11 Mar 2010 at 8:26pm

XOMA Ltd. (XOMA)

Q4 2009 Earnings Call

March 11, 2010 4:30 pm ET

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BreitBurn Energy Partners L.P. Q4 2009 Earnings Call Transcript
11 Mar 2010 at 6:21pm

BreitBurn Energy Partners L.P. (BBEP)

Q4 2009 Earnings Call

March 11, 2010 1:00 pm ET

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Veraz Networks, Inc. Q4 2009 Earnings Call Transcript
11 Mar 2010 at 5:44pm

Veraz Networks, Inc. (VRAZ)

Q4 2009 Earnings Call

March 11, 2010 4:30 pm ET

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Peregrine Pharmaceuticals, Inc. F3Q10 (Qtr End 01/31/10) Earnings Call Transc...
11 Mar 2010 at 4:58pm

Peregrine Pharmaceuticals, Inc. (PPHM)

F3Q10 (Qtr End 01/31/10) Earnings Call

March 11, 2010 11:30 am ET

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Stewart Enterprises, Inc. F1Q10 (Qtr End 01/31/10) Earnings Call Transcript
11 Mar 2010 at 4:01pm

Stewart Enterprises, Inc. (STEI)

F1Q10 (Qtr End 01/31/10) Earnings Call

March 11, 2010 11:00 am ET

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FuelCell Energy, Inc. F1Q10 (Qtr End 01/31/10) Earnings Call Transcript
11 Mar 2010 at 3:05pm

FuelCell Energy, Inc. (FCEL)

F1Q10 (Qtr End 01/31/10) Earnings Call

March 11, 2010 10:00 am ET

Complete Story »

Uranium Resources, Inc. Q4 2009 Earnings Call Transcript
11 Mar 2010 at 2:56pm

Uranium Resources, Inc. (URRE)

Q4 2009 Earnings Call

March 11, 2010 11:00 am ET

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