Shares of The Boston Beer Company (NYSE: SAM) surged to a new 52-week high Friday morning, after the brewmaster reported a third-quarter profit of $10.4 million, or 72 cents per share, on revenue of $108.7 million. The company swung to a loss of 2 cents per share in the third quarter of 2008, but attributed its turnaround to strong shipments and decreased advertising expenses.

The results were better than analysts expected, with consensus estimates calling for Boston Beer to bank a profit of 39 cents per share on $107.5 million. Looking forward, Boston Beer now expects full-year earnings of $1.75 per share to $2.05 per share, a marked increased from its prior forecast for a 2009 profit of $1.40 per share to $1.70 per share.

Continue reading Boston Beer blows away 3Q expectations, hikes 2009 forecast

Boston Beer blows away 3Q expectations, hikes 2009 forecast originally appeared on BloggingStocks on Fri, 06 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

Traders initially seemed thrilled with Wednesday's third-quarter earnings report from Lumber Liquidators (NYSE: LL), but the stock then backpedaled into the red. The retailer banked a quarterly profit of $7.8 million, or 28 cents per share, up from its year-ago net income of $5.5 million, or 20 cents per share. Revenue for the period surged 14% to $140.5 million. The results comfortably outpaced analysts' consensus estimates, which called for a profit of 24 cents per share on $137.1 million in revenue.

Looking ahead, Lumber Liquidators is forecasting full-year revenue of $535 million to $543 million, up from its previous guidance of $528 million to $538 million. Earnings for fiscal 2009 are expected to range between 90 cents and 95 cents per share, compared to the retailer's previous forecast of 85 cents to 91 cents per share. Wall Street, on average, is expecting full-year earnings of 90 cents per share on $537.1 million.

Continue reading Lumber Liquidators rises, then falls, after solid 3Q report

Lumber Liquidators rises, then falls, after solid 3Q report originally appeared on BloggingStocks on Wed, 04 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

Hartford Financial Services (NYSE: HIG) is scheduled to step into the earnings spotlight right after Tuesday's closing bell, with the insurance issue releasing its final third-quarter figures. Analysts are expecting Hartford to report a profit of $1.11 per share, according to Thomson Reuters, representing a dramatic reversal from its year-ago loss of $1.40 per share.

Hartford has a mixed history on the earnings front, with the company exceeding consensus expectations in two of the previous four reporting periods -- and falling short of Wall Street's predictions during the other two quarters. On the plus side, sector peer Lincoln National (NYSE: LNC) recently released a stronger-than-expected third-quarter report, which could bode well for Hartford.

Continue reading Hartford Financial: Volatility high ahead of Q3 report

Hartford Financial: Volatility high ahead of Q3 report originally appeared on BloggingStocks on Tue, 03 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

An article in Barron's suggests that Motorola (NYSE: MOT) is on the verge of regaining some of its former mojo. The company recently offered a solid outlook for the remainder of the year, and it could garner new business after debuting two smartphones featuring Google's (NASDAQ: GOOG) Android operating system -- namely, the Droid and the Cliq.

The author cites analyst Ed Snyder of Charter Equity Research, who believes Motorola is on the cusp of "an extended upswing in handsets ... over the next several quarters." Snyder believes that the firm's ailing handset division could achieve break-even results as soon as the second quarter of 2010.

Continue reading Barron's, Citigroup bet on a comeback for Motorola

Barron's, Citigroup bet on a comeback for Motorola originally appeared on BloggingStocks on Mon, 02 Nov 2009 11:20:00 EST. Please see our terms for use of feeds.

Geron Corp. (NASDAQ: GERN) surged right out of the gate Friday morning, as traders cheered the stem cell stock's narrower-than-expected quarterly loss. After Thursday's close, Geron reported a third-quarter loss of $15.2 million, or 17 cents per share, while revenue arrived at $494,000.

Operating expenses for the quarter fell on a year-over-year basis from $18.3 million to $16.9 million, while research and development costs dwindled from $14.2 million to $13.4 million.

Continue reading Geron Corp. spikes on narrower-than-forecast 3Q loss

Geron Corp. spikes on narrower-than-forecast 3Q loss originally appeared on BloggingStocks on Fri, 30 Oct 2009 12:30:00 EST. Please see our terms for use of feeds.

A report in Thursday's The Wall Street Journal [subscription required] reveals that American International Group (NYSE: AIG) is actually reaping the benefits of its risky bets in the credit-default swap market.

AIG was forced to shell out billions to Wall Street banks amid last year's credit crisis, as the assets backed by the credit-default swaps plummeted in value. However, the market's reversal of fortune means that banking heavyweights, such as Goldman Sachs Group (NYSE: GS), are now returning collateral to the infamous insurance giant.

Continue reading AIG recoups billions in collateral payments

AIG recoups billions in collateral payments originally appeared on BloggingStocks on Thu, 29 Oct 2009 12:10:00 EST. Please see our terms for use of feeds.

Ivanhoe Mines (NYSE: IVN) was broadly lower Wednesday after mining giant Rio Tinto (NYSE: RTP) boosted its stake in the company from 9.9% to 19.7%. Rio Tinto raised its interest in Ivanhoe by purchasing 46.3 million common shares for $388 million. The proceeds will be used to help build and commission Ivanhoe's Oyu Tolgoi project in Mongolia.

Thanks to the capital infusion, Ivanhoe now has roughly $610 million in cash on its balance sheet. However, traders are hardly cheering the news -- perhaps because Rio Tinto snapped up the stock at a bargain price of $8.38 per share, representing a steep discount to Tuesday's closing price of $11.51.

Continue reading Ivanhoe Mines secures $388M investment from Rio Tinto

Ivanhoe Mines secures $388M investment from Rio Tinto originally appeared on BloggingStocks on Wed, 28 Oct 2009 12:50:00 EST. Please see our terms for use of feeds.

LDK Solar Co., Ltd. (NYSE: LDK) was broadly higher Tuesday after boosting its top-line guidance for the third quarter. The alternative energy issue now anticipates revenue of $270 million to $290 million for the period, compared to its earlier forecast for $240 million to $270 million. Analysts' consensus expectations call for third-quarter revenue of just $249.9 million, according to Thomson Reuters.

LDK added that it now expects wafer shipments for the third quarter to range between 310 megawatts (MW) and 330 MW, up from its previous view of 260 MW to 300 MW. Simultaneously, the firm dropped its forecast for module shipments -- instead of 10 MW to 20 MW, LDK is now looking for module shipments of 5 MW to 10 MW.

Continue reading LDK Solar hikes revenue forecast, but stock's still struggling

LDK Solar hikes revenue forecast, but stock's still struggling originally appeared on BloggingStocks on Tue, 27 Oct 2009 12:40:00 EST. Please see our terms for use of feeds.

The shares of Domino's Pizza (NYSE: DPZ) gapped sharply lower this morning, despite a stronger-than-expected third-quarter profit. Ahead of the bell, Domino's reported net income of $17.8 million, or 31 cents per share, for the quarter ended Sept. 6. Excluding a $14.3 million pretax gain, Domino's profit of 17 cents per share was two cents better than analysts expected.

However, revenue for the period tumbled 6.5% to $302.7 million, falling well short of consensus estimates for $308.9 million. Same-restaurant sales were flat in the U.S., although they were up 2.7% internationally. With top-line results softer than expected, the pizza chain cited lower interest expense and tighter cost controls for the robust bottom-line results.

Continue reading Domino's Pizza drops, despite 3Q profit surprise

Domino's Pizza drops, despite 3Q profit surprise originally appeared on BloggingStocks on Tue, 13 Oct 2009 11:50:00 EST. Please see our terms for use of feeds.

Depomed Inc. (NASDAQ: DEPO) opened Monday on a loss of nearly 50%, as traders panned the company's clinical trial results for Serada. The drug, which is intended to treat hot flashes related to menopause, met only one one of four co-primary goals in late-stage trials after 12 weeks.

Depomed was hoping to prove that Serada could help patients achieve a "statistically significant reduction in the frequency and severity of menopausal hot flashes." However, the company confessed that the placebo effect was unexpectedly high in clinical studies.

Continue reading Depomed sinks on dismal drug news

Depomed sinks on dismal drug news originally appeared on BloggingStocks on Mon, 12 Oct 2009 11:30:00 EST. Please see our terms for use of feeds.

Muhtar Kent, CEO of The Coca-Cola Company (NYSE: KO), took to the pages of The Wall Street Journal to argue against the government's proposed "fat tax" on soda. In a column titled "Coke Didn't Make America Fat," Kent noted that "our industry has become an easy target in this debate." However, he believes the sedentary lifestyle of Americans is to blame for our nation's obesity problem.

"If we're genuinely interested in curbing obesity, we need to take a hard look in the mirror and acknowledge that it's not just about calories in. It's also about calories out," wrote Kent. He also cited the "regressive nature and inherent illogic" of trying to rectify obesity by taxing soft drinks, observing that West Virginia and Arkansas -- two states which currently tax sodas -- are among the states with the highest obesity rates in the nation.

Continue reading Coca-Cola CEO speaks out against soda tax in WSJ

Coca-Cola CEO speaks out against soda tax in WSJ originally appeared on BloggingStocks on Thu, 08 Oct 2009 12:00:00 EST. Please see our terms for use of feeds.

In the wake of COST's report, analyst Brian Sozzi of Wall Street Strategies reiterated his Buy rating and $66 price target on the equity. "In our view, 4Q09 will go a long way in supporting a higher valuation for Costco," wrote Sozzi in a research note this morning. "The company has managed to control costs, drive traffic to its warehouses consistently throughout the economic downturn, paid $300 million in annual dividends in FY09 (payout ratio of 26.0% second to only Wal-Mart in the sector), and has catalysts on the horizon to showcase earnings power above currently modeled for consensus EPS."

Continue reading Costco Wholesale surges after topping 4Q expectations

Costco Wholesale surges after topping 4Q expectations originally appeared on BloggingStocks on Wed, 07 Oct 2009 14:20:00 EST. Please see our terms for use of feeds.

Snacks-and-soda stalwart PepsiCo, Inc. (NYSE: PEP) is scheduled to unveil its third-quarter results before the market opens this Thursday, Oct. 8. Heading into the report, analysts are expecting PEP to bank a profit of $1.02 per share, according to Thomson Reuters, fractionally lower than its year-ago earnings of $1.06 per share.

PepsiCo has a healthy history in the earnings spotlight, having exceeded Wall Street's consensus expectations in each of the previous three quarters. Judging by recent option activity, traders are speculating on another upside surprise from the Frito-Lay firm.

Continue reading Earnings preview: Shorts seem nervous ahead of PepsiCo's 3Q

Earnings preview: Shorts seem nervous ahead of PepsiCo's 3Q originally appeared on BloggingStocks on Tue, 06 Oct 2009 16:45:00 EST. Please see our terms for use of feeds.

Hovnanian Enterprises Inc. (NYSE: HOV) announced Monday morning that it will sell up to $775 million (WSJ subscription required) of seven-year notes in order to fund its previously reported tender offer for up to $759.3 million in debt. The struggling homebuilder also reported that $877 million of the notes were tendered by the early deadline on Friday. As a result, Hovnanian reduced the maximum amount of unsecured notes it will buy from $130 million to $100 million.

Last week, a Wall Street Journal article noted that Hovnanian is "hobbled" by its debt, even as the rest of the industry is ready to buy up land at a bargain. As of July 31, Hovnanian's net debt accounted for 109% of total capital, compared to an average of 26% for the dozen major homebuilders tracked by research firm Zelman & Associates.

Continue reading Debt-laden Hovnanian plans massive note sale to fund tender offer

Debt-laden Hovnanian plans massive note sale to fund tender offer originally appeared on BloggingStocks on Mon, 05 Oct 2009 12:40:00 EST. Please see our terms for use of feeds.

Google Inc. (NASDAQ: GOOG) is a true Goliath in the online world, exerting its dominance in search, Web-based e-mail, maps, software, and more. Despite this fact -- or perhaps because of it -- it seems that tech companies can't wait to do battle with Google. IBM (NYSE: IBM) is the latest rival to throw down the gauntlet, with the company launching its own internet-based e-mail service for businesses.

The new service, known as LotusLive iNotes, is geared toward employees who might not be able to access their company e-mail remotely. The no-frills program features basic applications such as messaging, calendar, and contact management. LotusLive iNotes is being offered at prices as low as $3 per user per month. (Google's Google Apps service, with e-mail and Web-based applications including word processing, is priced at $50 per user annually.)

Continue reading IBM takes a swipe at Google with Web-based e-mail

IBM takes a swipe at Google with Web-based e-mail originally appeared on BloggingStocks on Fri, 02 Oct 2009 11:50:00 EST. Please see our terms for use of feeds.

Bright and early this morning, Goldman Sachs downgraded gaming guru Activision Blizzard (NASDAQ: ATVI) from Conviction Buy to Buy. In a note to clients, the brokerage firm explained that it sees greater relative potential for near-term price appreciation in other stocks. Goldman maintains a six-month price target of $16 on ATVI, implying expected upside of more than 29% from the shares' closing price on Wednesday.

ATVI is a ripe target for downgrades, if only because analysts are so lopsidedly optimistic toward the "Guitar Hero" parent. Zacks reports that the equity has attracted no fewer than 18 Strong Buy recommendations, plus two Buys -- with not a single Hold, Sell, or Strong Sell to be found.

Continue reading Activision Blizzard booted from Conviction Buy list

Activision Blizzard booted from Conviction Buy list originally appeared on BloggingStocks on Thu, 01 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.

Late Tuesday, Saks Inc. (NYSE: SKS) announced plans to offer up to $100 million in common stock. In a filing with the Securities and Exchange Commission (SEC), the upscale retailer said it will use proceeds from the offering to pay down its debt, and for general corporate purposes. Saks has approximately 138.3 million shares of common stock outstanding as of Sept. 28, and its long-term debt and lease obligations amounted to $662.9 million as of Aug. 1.

Saks has endured a rough year, thanks to a dramatic slowdown in consumer spending amid the recession. The high-end chain has swallowed quarterly losses in each of the previous four reporting periods, and analysts are expecting a loss of 14 cents per share for the current quarter.

Continue reading Cash-strapped Saks Inc. launches secondary offering

Cash-strapped Saks Inc. launches secondary offering originally appeared on BloggingStocks on Wed, 30 Sep 2009 12:20:00 EST. Please see our terms for use of feeds.

Via, the new instant coffee product from Starbucks Corporation (NASDAQ: SBUX), is making its debut Tuesday on the national stage.

The powdered java was already available in select markets, but the so-called ready brew is now being rolled out to all of the coffee chain's U.S. locations -- and CEO Howard Schultz promises it "will change the way people drink coffee."

Continue reading Starbucks rolls out Via nationwide with major marketing blitz

Starbucks rolls out Via nationwide with major marketing blitz originally appeared on BloggingStocks on Tue, 29 Sep 2009 12:00:00 EST. Please see our terms for use of feeds.

The United States Natural Gas Fund LP (NYSE: UNG) resumed issuing new shares Monday, ending a long drought for the exchange-traded fund (ETF). UNG, which tracks price changes in natural gas, hasn't issued new creation baskets (blocks of 10,000 units) since June, thanks in part to newly enacted position limits on the federal and exchange level.

While it's back to business as usual, traders should still proceed with caution when it comes to this commodity-based fund. UNG warned late Friday that its units are still trading at a premium to its net asset value (NAV), which could spell trouble for investors.

Continue reading Call selling hits U.S. Natural Gas Fund as new share creation resumes

Call selling hits U.S. Natural Gas Fund as new share creation resumes originally appeared on BloggingStocks on Mon, 28 Sep 2009 11:30:00 EST. Please see our terms for use of feeds.

Late Thursday, McDonald's (NYSE: MCD) announced a 10% increase to its cash dividend. The fast-food firm will now shell out 55 cents per share each quarter, bringing its total quarterly dividend payout to roughly $600 million. The increase will cost McDonald's about $220 million per year. This most recent dividend hike continues a long-term trend for Mickey D's, which has raised its quarterly payout every year since 1976.

In other MCD news, Bernstein initiated coverage of the stock with an "outperform" rating. The brokerage firm likes McDonald's because of its broad global footprint, with Bernstein noting that restaurants more heavily dependent on the sluggish U.S. market could struggle.

Continue reading McDonald's dividend rises, but stock's still stagnant

McDonald's dividend rises, but stock's still stagnant originally appeared on BloggingStocks on Fri, 25 Sep 2009 10:50:00 EST. Please see our terms for use of feeds.