On Tuesday, apparel retailer J. Crew Group Inc. (NYSE: JCG) suggested that 2008 income would come in above analyst estimates.
For the full year, the company forecast a profit of $1.85 to $1.87 per share. The consensus estimate of analysts polled by Thomson Financial is for full-year earnings of $1.52 per share. In after-market trading yesterday, J. Crew shares rose $1.36, or 3.2%, to $43.96, and they continued to rise in morning trading to $46.17.
During a presentation to analysts and investors, heavy machinery maker Caterpillar Inc. (NYSE: CAT) forecast that the company's earnings per share will rise 5% to 15%, to between $5.64 and $6.18 per share, and that revenue will climb between 5% and 10% from the $44.96 billion it reported in 2007. On average, analysts polled by Thomson Financial expect profit of $5.89 per share on revenue of $48.2 million.
Caterpillar also said that the company's profit will rise between 15% and 20% from 2005 through 2012, and that sales will approach $60 billion by 2010. Caterpillar shares were up about 4% to $75.59 in morning trading.
In an investor conference in New York that was broadcast on the internet, United Parcel Service (NYSE: UPS) warned that it may not meet its first-quarter earnings guidance. Though the first three weeks of January saw strong volume growth, that was later followed by six weeks of negative growth. If the recent trends continue through the end of the first quarter on March 31, UPS said, the company's previous guidance will be difficult to achieve.
UPS plans to focus more on growth opportunities in China, India, and Europe because of the uncertain U.S. economy, the world's largest shipping carrier said. UPS remains comfortable with its annual guidance. Shares of UPS opened at $71.03, down from yesterday's close of $72.90, but climbed back to $72.63 in morning trading.
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