Newspaper wrap-up: Heinz expected to raise earnings, sales projections
Posted May 29th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, US Airways Group (LCC), UAL Corp (UAUA), Barclays plc ADS (BCS)
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MAJOR PAPERS:
- H.J. Heinz Co. (NYSE: HNZ) is today expected to increase its sales and profit projections for the next two years, as it reports results of its fiscal year ended April 30. The Wall Street Journal reported that sales are to grow 6% or higher from 4%, while earnings per share growth for the next two years is projected to grow between 8% and 11% from the earlier projection of 7% to 9%.
- It appears that Vistaprint Limited (NASDAQ: VPRT), a graphic design services and printed products company, counts on referral fees from pop up rewards programs on it website for a certain amount of its revenue and profit and also relies on the referral of its customers to outside firms offering rewards programs, which turns out to be a monthly fee for services such as discounts on movies and amusement parks, according to the Wall Street Journal's "Heard on the Street". Some believe the stock, whose shares have plummeted over concerns of slowing revenue and slimmer gross margins, may be trading too high for its own good.
- According to people familiar with their plans, the Financial Times reported that the CEOs of UAL Corporation's (NASDAQ: UAUA) United Airlines and US Airways Group (NYSE: LCC) will today meet to discuss the carriers' potential merger agreement.
OTHER PAPERS:
- The Independent reported that for the second time this month, Barclays Plc (NYSE: BCS) revised lower its calculation of analysts' consensus for its full-year profit, cutting its 2008 figure by nearly 8% to GBP5.876B pre-tax; Barclays cut the calculation 15% two weeks ago.
Tags: Barclays, BCS, h.j. heinz, h.j. heinz company, H.j.Heinz, H.j.HeinzCompany, Heinz, HNZ, LCC, ual corp, ual corp., ual corporation, UalCorp, UalCorp., UalCorporation, UAUA, United Airlines, UnitedAirlines, us airways, us airways group, UsAirways, UsAirwaysGroup, vistaprint, VPRT
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