Here is a brief overview of some of Wednesday's earnings reports.
Alcoa Inc. (NYSE: AA): Fourth-quarter earnings soared 76 percent, boosted by the pending sale of the aluminum producer's packaging and consumer businesses. For the three months ended December 31, net income rose to $632 million, or 75 cents per share, from $359 million, or 41 cents per share, during the same period last year. Quarterly revenue fell to $7.39 billion from $7.84 billion last year, due to lower metal prices and the exclusion of results from a soft alloy extrusion business that is now part of a joint venture. Analysts surveyed by Thomson Financial had expected earnings of 33 cents per share on $6.92 billion in revenue. Shares rose in after-hours trading.
The Shaw Group Inc. (NYSE: SGR): The engineering, construction, and environmental contractor swung to a first-quarter profit on strong demand for fossil and nuclear power projects. For the three months ending November 30, Shaw earned $2.23 million, or 3 cents per share, compared to a year-ago loss of $12.3 million, or 15 cents per share. Revenue rose to $1.71 billion from $1.28 billion a year ago. Analysts surveyed by Thomson Financial had expected a profit of 49 cents per share on revenue of $1.68 billion. Shares fell 48 cents to $59.22.
Ruby Tuesday Inc. (NYSE: RT): The restaurant chain swung to a loss in its fiscal second quarter due to remodeling expenses and weak sales. For the quarter ended December 4, the company reported a loss of $10.4 million, or 20 cents per share, versus a profit of $16.7 million, or 28 cents per share, in same period of the previous year. Revenue fell about 5 percent to $320.9 million from $336.8 million last year. The earnings results matched the expectations of analysts polled by Thomson Financial, who had also expected revenue of $316.4 million for the quarter. Shares hit a multi-year low of $6.99 during the day.
Top growth fund manager sours on Apple, U.S. tech
New Facebook share structure hints at IPO
Before the bell: Futures higher ahead of housing, jobless data
Reader Comments (Page 1 of 1)
1-10-2008 @ 9:26AM
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