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Earnings Highlights: Aetna, Alcoa, Chevron, Intel, JPMorgan, KB Home, Sealy ...

Here are some highlights from this past week's earnings coverage on BloggingStocks:

  • Aetna Inc. (AET) shares declined after the insurer issued a surprise earnings warning for 2010.
  • Alcoa Inc. (AA) swung to a smaller-than-expected Q4 profit even as revenue declined, sending shares lower.
  • Carter's Inc. (CRI) posted strong Q3 earnings that topped estimates and same-store sales growth.
  • Chevron Corp. (CVX) shares declined slightly after the company issued a surprise earnings warning.
  • Con-Way Inc. (CNW) was downgraded due in part to concerns about near-term earnings.

Continue reading Earnings Highlights: Aetna, Alcoa, Chevron, Intel, JPMorgan, KB Home, Sealy ...

Closing Bell: Earnings Season's Tough Start (AET, AA, BAC, CVX, ERTS, KBH, HIG)

Today started out as a down day and it stayed that way. The market tried to recover mid-morning, but that failed. The financial sector was under pressure from guidance and from fears of more reprisals out of Washington D.C. that never seem to go away. The rest of the market pressure was on earnings and a pressure of earnings warnings hitting the stocks.

Here were today's unofficial closing bell levels:

Dow 10,626.81 -37.18 (-0.35%)
S&P 500 1,136.21 -10.77 (-0.94%)
Nasdaq 2,282.31 -30.10 (-1.30%)

Top Analyst Upgrades
Top Analyst Downgrades

Continue reading Closing Bell: Earnings Season's Tough Start (AET, AA, BAC, CVX, ERTS, KBH, HIG)

KB Home Turns a Profit, but Shares Drop

KB Home (KBH) took its turn reporting earnings Tuesday. While the homebuilder scored its first profit in nearly three years, the stock turned lower in early trading.

In the three months ended November 30, KB Home banked $100.7 million, or $1.31 per share (including a tax gain of $191.7 million). This compares favorably to a year-ago loss of $307.3 million, or $3.96 per share. Revenue, however, dropped to $674.6 million from $919 million on a year-over-year basis. This topped Wall Street's expectations for a per-share loss of 42 cents and revenue of $578 million.

Continue reading KB Home Turns a Profit, but Shares Drop

The Week in Preview: Fed's Beige Book; Alcoa, JPMorgan and Intel Earnings

The Federal Reserve's first Beige Book report of the year is due out this week. The report is a compilation of anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts. The data comes from interviews with business contacts, economists, market experts, and other sources. The previous report, released in December, showed modest improvement in eight of the districts, while the October report confirmed that the economy was stabilizing after earlier declines.

Continue reading The Week in Preview: Fed's Beige Book; Alcoa, JPMorgan and Intel Earnings

New home sales rose less than expected last month

The housing market got two pieces of bad news Friday. The first being weaker-than-expected earnings for KB Home (NYSE: KBH) and the second being a less-than-expected rise in new home sales last month.

First, the good news. New home sales did rise last month. In the current economic environment, that by itself is good news. Unfortunately the rise was less than analysts had been expecting to see.

Continue reading New home sales rose less than expected last month

KB Home narrows loss but misses estimates

Shares of California-based homebuilder KB Home (NYSE: KBH) sold off Friday morning after the company failed to meet analyst estimates for its third quarter.

As we noted in our earnings preview, analysts were expecting to see the company show a loss of 56 cents per share for its third quarter, but the company failed to hit that number, posting an actual loss of a much worse 87 cents per share.

Continue reading KB Home narrows loss but misses estimates

KB Home third quarter earnings preview

KB Homes third quarter earnings previewCalifornia based home builder KB Home (NYSE: KBH) will have its turn to impress Wall Street Friday morning when it reports its third quarter earnings numbers.

The last time that KB Home reported earnings was back on June 26 when it missed analyst estimates miserably. Analysts had been expecting to see the company show a loss of 64 cents per share for its second quarter, but the actual earning were much worse, with a loss of $1.03.

Continue reading KB Home third quarter earnings preview

The week in preview: Eye on AutoZone, ConAgra, KB Home, Research In Motion ...

Much of the focus this week will no doubt be on the FOMC meeting on interest rates and the subsequent decision, as well as on the G-20 meeting in Pittsburgh, were the agenda will include bonuses for bank executives among other things.

Things will be fairly quiet again on the earnings front as the next earnings season has yet to ramp up. However, analysts surveyed by Thomson Reuters do have high hopes for a handful of companies that will release results this week.

Continue reading The week in preview: Eye on AutoZone, ConAgra, KB Home, Research In Motion ...

Cramer on BloggingStocks: Missing the big picture

TheStreet.com's Jim Cramer says don't heed the pundits -- allow yourself to believe things are improving.

Skeptical, or impossible? That's how I am posing the dilemma of the "pull through" argument whether it involves Ford (NYSE: F) (Cramer's Take) and "Cash for Clunkers" or Hovnanian (NYSE: HOV) (Cramer's Take), Lennar (NYSE: LEN) (Cramer's Take), Toll (NYSE: TOL) (Cramer's Take), KB Home (NYSE: KBH) and Pulte (NYSE: PHM) (Cramer's Take) and the $8,000 tax credit.

Right now any time there is a stimulus program of any sort, the pundits/media/money managers all decide the most important single issue isn't what it will do to the numbers, or whether it will work at all, but what will it do to the "pull through." How much of future sales will it "steal"?

Continue reading Cramer on BloggingStocks: Missing the big picture

Home builder stock #3: KB Home (KBH)

kb home stock (KBH)KB Home (NYSE: KBH) was hit incredibly hard by the housing bust. The stock fell from $82 to just $7 per share. We haven't seen shakeouts like that since the tech bust.

Unlike some of the other home builders, KBH probably hit bottom early. The company's loss from last year wasn't as bad as its loss from 2007, and that's a good sign.

What I also like about KB Home is that the stock's volatility has calmed down, which is often the result of heavy institutional buying.

Continue reading Home builder stock #3: KB Home (KBH)

Is it safe to buy home builders?

home builder stocksThe past few years haven't been what you might call a happy time for shares of home building stocks. Consider that the Homebuilders Exchange-Traded Fund (NYSE: XHB) plunged from $40 per share in early 2007 to just $8 per share earlier this year.

Since March, however, things have improved. There are signs that the housing market is getting back on its feet -- or at least, declining less slowly. Existing home sales recently registered their biggest gain in more than a decade. Seasonally-adjusted single-family building permits are up 27% since bottoming in March, while single-family housing starts have increased five straight months and are up 36% since March.

Continue reading Is it safe to buy home builders?

Will housing stocks drop this fall?

If you listen to the majority of economists out there, they will tell you that the collapse of the housing market was one of the major factors that pushed us into the current recession. They will also tell you that a recovery in the housing market will be necessary if we are to ever pull out of this recession.

So it's no surprise that, with all of that in mind, economists and investors have been excited to see improvements in the housing market this summer.

For instance, the New Home Sales number released on Wednesday by the Census Bureau showed that sales rose more than expected in July -- to 433,000.

Continue reading Will housing stocks drop this fall?

Earnings highlights: Nike, Oracle, Kroger, Walgreen, Monsanto, KB Home ...

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Nike, Oracle, Kroger, Walgreen, Monsanto, KB Home ...

KB Home drops amid more losses

Shares in homebuilder KB Home (NYSE: KBH) dropped more than 8% as of mid-day Friday following the company's earnings release. Earnings per share for the quarter ending May 31 were a loss of $1.03, or $78.4 million, on $384.5 million in revenue, compared to the $0.64 average loss expected from analysts. The expected earnings range was between a $0.03 and a $1.40 loss, reflecting uncertainty about the writedowns needed on home inventories, land, and joint ventures.

When the housing market was at its peak in 2006, KB Home's sales topped $3 billion in one quarter. The company has struggled since, as the worst housing market in generations has led to a decline in housing starts of more than 75% from the peak to the present.

Continue reading KB Home drops amid more losses

The week in preview: End-of-quarter earnings expectations: Nike, Oracle, Walgreen ...

This week brings a small flurry of end-of-the-calendar-quarter earnings reports. And for the most part, the expectations of the analysts surveyed by Thomson Reuters aren't very high. Companies expected to report declining earnings in the most recently concluded quarter include America's Car-Mart Inc. (NASDAQ: CRMT), Bed Bath & Beyond Inc. (NASDAQ: BBBY), ConAgra Foods Inc. (NYSE: CAG), Jabil Circuit Inc. (NYSE: JBL), Jackson Hewitt Tax Service Inc. (NYSE: JTX), Monsanto Co. (NYSE: MON), and Sonic Corp. (NASDAQ: SONC).

Continue reading The week in preview: End-of-quarter earnings expectations: Nike, Oracle, Walgreen ...

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Symbol Lookup
IndexesChangePrice
DJIA+150.2510,058.64
NASDAQ+24.822,150.87
S&P 500+13.781,070.52

Last updated: February 10, 2010: 02:33 AM

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