Thursday, The Gap Inc. (GPS) reported that its third-quarter net profit totaled $307 million, or 44 cents per share, up 25% from the year-ago period. Revenue for the quarter added 1% to $3.59 billion, while gross margin surged 380 basis points to 42.5%. Operating margin escalated from 11.1% to 13.9%, marking its highest level in 10 years.

The retail issue also announced a new stock buyback plan worth $500 million. About $20 million of that amount will be repurchased from the family of founder Donald Fisher, who passed away in September.

Continue reading Traders unimpressed with Gap's 25% profit jump

Traders unimpressed with Gap's 25% profit jump originally appeared on BloggingStocks on Fri, 20 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

A few lucky executives at Citigroup (C) received base pay raises this year, but CEO Vikram Pandit isn't among them. The bank announced that it will compensate Pandit exactly $1 for his services, with no stock salary. Last year, the chief executive collected a modest salary (by Wall Street standards) of $958,333.

Meanwhile, Chief Financial Officer John Gerspach's base compensation was hiked from $400,000 to $500,000 effective Nov. 1. James Forese, co-head of global markets, enjoyed an even heftier pay raise -- his base salary jumped from $225,000 to $475,000.

Continue reading Citigroup CEO Vikram Pandit to rake in $1 salary

Citigroup CEO Vikram Pandit to rake in $1 salary originally appeared on BloggingStocks on Wed, 18 Nov 2009 11:20:00 EST. Please see our terms for use of feeds.

Canadian Solar Inc. (CSIQ) tagged a new 52-week peak Tuesday morning in the wake of its latest earnings report. The solar company announced that it raked in a third-quarter profit of $25.3 million, or 69 cents per share, while revenue dipped 16% to $213.1 million. The results handily exceeded analysts' consensus expectations for a profit of 54 cents per share on $210.9 million in revenue.

Shipments for the recently concluded quarter more than doubled on a sequential basis, arriving at 102.6 megawatts (MW). For 2010, Canadian Solar said it expects shipments to range between 600 MW and 700 MW, compared to the current 2009 forecast for shipments of 295 MW to 305 MW.

Continue reading Canadian Solar soars to new annual high on earnings beat

Canadian Solar soars to new annual high on earnings beat originally appeared on BloggingStocks on Tue, 17 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

In other Sprint news this morning, Sprint shares were upped from "neutral" to "outperform" at Credit Suisse. Analyst Jonathan Chaplin set his price target at $6, asserting that the company will benefit from cost cutting, stronger sales of prepaid service, and improved customer retention trends. Sprint's stock settled Friday at $3.10, so Chaplin's price target implies expected upside of nearly 94%.

Continue reading Sprint Nextel scores upgrade, pays off $1B loan

Sprint Nextel scores upgrade, pays off $1B loan originally appeared on BloggingStocks on Mon, 16 Nov 2009 14:00:00 EST. Please see our terms for use of feeds.

Yingli Green Energy (YGE) traded sharply higher Friday in the wake of its third-quarter results. The solar issue reported that its quarterly earnings contracted 18% to $17.7 million, or 12 cents per American depositary share (ADS). Excluding items, such as stock compensation, earnings weighed in at 18 cents per ADS. Revenue for the period edged 0.7% higher to arrive at $325.9 million.

Ahead of the report, analysts were looking for a profit of 16 cents per ADS on $331 million in revenue. Despite the revenue miss, YGE surged into the black right out of the gate. In addition to the stronger-than-expected profit number, traders were no doubt enthused by an 80% jump in shipments from second-quarter levels.

Continue reading Yingli Green Energy bounces higher on solid 3Q earnings

Yingli Green Energy bounces higher on solid 3Q earnings originally appeared on BloggingStocks on Fri, 13 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

Advanced Micro Devices (AMD) soared to a new annual high Thursday morning after the chipmaker settled its antitrust case against rival Intel (INTC). Under the terms of the agreement, Intel will shell out $1.25 billion to AMD, and will abide by a new set of rules for conducting business. The pact also includes a renewed cross-license agreement between the two chip titans.

In prepared comments, AMD CEO Dirk Meyer called the settlement a game-changer. "We are optimistic that it will usher a new era for our industry," he said. "We recognize that it will take time for people to understand how the operating conditions in the processor business have changed. But make no mistake -- they have changed."

Continue reading Advanced Micro Devices rallies after settling Intel tiff

Advanced Micro Devices rallies after settling Intel tiff originally appeared on BloggingStocks on Thu, 12 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

Late Tuesday, The Wall Street Journal reported that Las Vegas Sands (LVS) is preparing to relaunch its stalled construction projects in Macau, China's hot gambling region. Financial woes forced Las Vegas Sands to walk away from the two construction sites a year ago, but newly secured funding means that the casino company can resume work on the projects as soon as January.

Las Vegas Sands disclosed in a regulatory filing on Monday that it secured $1.45 billion in financing from banks, and the firm is looking to lock down an additional $300 million. The gaming issue is also attempting to raise as much as $3.83 billion by launching an initial public offering (IPO) in Hong Kong of its Macau assets, about $500 million of which will be used to fund construction on the stalled sites.

Continue reading Las Vegas Sands to resume construction in Macau

Las Vegas Sands to resume construction in Macau originally appeared on BloggingStocks on Wed, 11 Nov 2009 12:30:00 EST. Please see our terms for use of feeds.

Notorious insurance titan American International Group (AIG) is on the upswing today, after Moody's Investors Service reported late Monday that it expects AIG will be able to repay its government debt. The ratings agency observed that AIG has made progress with its restructuring plan, and the firm's latest quarterly earnings "show continued stabilization of the core insurance operations despite challenging market conditions."

The insurance issue has put many of its non-core assets up for sale during the past year to generate capital and pare its unwieldy size, but some of those plans have been iced by new CEO Robert Benmosche. Moody's likes the new chief's approach, with the firm observing, "We believe that the slower approach to restructuring could help AIG to generate more favorable values from its business portfolio than would be the case under rushed asset sales."

Continue reading American International Group rallies on Moody's report

American International Group rallies on Moody's report originally appeared on BloggingStocks on Tue, 10 Nov 2009 12:30:00 EST. Please see our terms for use of feeds.

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.