Continue reading Closing Bell: Market Whips Around Looking for Footing (APOL, ABK, BAC, GE, GOOG, STX)

Closing Bell: Market Whips Around Looking for Footing (APOL, ABK, BAC, GE, GOOG, STX) originally appeared on BloggingStocks on Fri, 15 Oct 2010 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Bears Breathe Deep Late in Day (ABK, BBY, CAAS, C, LULU, GENZ)

Closing Bell: Bears Breathe Deep Late in Day (ABK, BBY, CAAS, C, LULU, GENZ) originally appeared on BloggingStocks on Thu, 25 Mar 2010 16:00:00 EST. Please see our terms for use of feeds.

As earnings season begins to wind down, some apparel retailers are scheduled to report quarterly results this week. Analysts polled by Thomson Reuters anticipate that Walmart Stores Inc. (NYSE: WMT), the 800-pound gorilla in the space, will report that it earned $0.77 per share in the first quarter, about the same as in the first quarter of last year. But JCPenney Co. (NYSE: JCP), Kohl's Corp. (NYSE: KSS), Nordstrom Inc. (NYSE: JWN), and Urban Outfitters Inc. (NASDAQ: URBN) are expected to report lower profits for the first quarter as consumers continued to hold off on spending. Macy's Inc. (NYSE: M) and Abercrombie & Fitch Co. (NYSE: ANF) are expected to have swung to a loss year over year.

Whole Foods Market Inc. (NASDAQ: WFMI) and Winn Dixie Stores Inc. (NASDAQ: WINN) are likewise expected to report declining earnings, while the Great Atlantic & Pacific Tea Co. (NYSE: GAP), parent of the A&P supermarket chain, is expected to have narrowed its net loss 68.9% to $0.28 per share.

Continue reading The week in preview: A peek at apparel retail earnings

The week in preview: A peek at apparel retail earnings originally appeared on BloggingStocks on Sun, 10 May 2009 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Ambac pays execs $3 million in undeserved bonuses

Ambac pays execs $3 million in undeserved bonuses originally appeared on BloggingStocks on Tue, 03 Feb 2009 08:48:00 EST. Please see our terms for use of feeds.

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

• Activision Blizzard Inc. (NASDAQ: ATVI) beat Q3 profit expectations and announced share buybacks.
• Ambac Financial Group Inc. (NYSE: ABK) Q3 net loss widened for various reasons, sending its shares lower.
• Best Buy Inc. (NYSE: BBY) earnings prospects could benefit from difficulties at Circuit City (NYSE: CC).
• Blockbuster Inc. (NYSE: BBI) reported a smaller-than-expected Q3 loss and same-store sales up a bit.
• Cisco Systems Inc. (NASDAQ: CSCO) earnings were essentially flat and revenue rose marginally.
• Fluor Corp. (NYSE: FLR) better-than-expected Q3 earnings sent its shares soaring.
• General Motors Corp. (NYSE: GM) delayed its Q3 report and briefly halted trading of its stock.
• Goodyear Tire & Rubber Co. (NYSE: GT) Q3 earnings easilly topped analysts' expectations.
• Marvel Entertainment Inc. (NYSE: MVL) Q3 results soared due to Iron Man and Incredible Hulk.
• MBIA Inc. (NYSE: MBI) greater-than-expected Q3 loss was due in part to residential mortgage exposure.
• News Corp. (NYSE: NWS) fell short of Q1 estimates and warned of the coming slowdown.
• Qualcomm Inc. (NASDAQ: QCOM) beat analysts' Q4 expectations but lowered its guidance.
• Revlon Inc. (NYSE: REV) reported unimpressive Q3 results, though the cash-flow statement was decent.
• Time Warner Inc. (NYSE: TWX) reported strong Q3 results but lowered its full-year outlook (see transcript).
• Viacom Inc. (NYSE: VIA) Q3 profits slipped but it beat Wall Street expectations by a penny.
• Whole Foods Market Inc. (NYSE: WFMI) lowered full-year forecast garnered interest from private equity.

Also, our Obama Picks include companies whose earnings could benefit from the outcome of the presidential election.

For more earnings highlights from this week, see Ford, Toyota, Goldman Sachs, Disney, Sprint, ADM and others.

Upcoming quarterly reports include AIG (NYSE: AIG), Starbucks (NASDAQ: SBUX), Tyson (NYSE: TSN), Microsoft (NASDAQ: MSFT), Applied Materials (NASDAQ: AMAT), Macy's (NYSE: M), Dr Pepper (NYSE: DPS), Kohl's (NYSE: KSS), Wal-Mart (NYSE: WMT), JCPenney (NYSE: JCP).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: GM, Time Warner, Cisco, News Corp., Viacom, Revlon and others originally appeared on BloggingStocks on Sat, 08 Nov 2008 09:40:00 EST. Please see our terms for use of feeds.

Ambac can't bring itself to say the B-word originally appeared on BloggingStocks on Wed, 05 Nov 2008 17:27:00 EST. Please see our terms for use of feeds.

The focus of last week's preview was on oil and energy companies, and we saw that big oil had a good week, reporting better-than-expected results and record profits driven by high prices in the third quarter. Energy-related companies are well represented again this week and expectations in general remain high.

Early in the week, analysts surveyed by Thomson Financial anticipate that the big earnings gainers will include EOG Resources Inc. (NYSE: EOG), Anadarko Petroleum Corp. (NYSE: APC), and Cimarex Energy Co. (NYSE: XEC), which are expected to post profits of $2.24 per share (up 64.7% from a year ago), $1.48 per share (up 52.7%) and $2.26 per share (up 61.1%) respectively. All three of them have offered positive surprises in recent quarters, and analysts on average recommend buying EOG and Anadarko. Other expected big earnings gainers early in the week include Forest Oil Corp. (NYSE: FST), Pioneer Natural Resources Co. (NYSE: PXD), Comstock Resources Inc. (NYSE: CRK), and MasterCard Inc. (NYSE: MA). The earnings of phosphates producer Innophos Holdings Inc. (NASDAQ: IPHS) are expected to have risen 92.3% to $3.37 per share. Innophos beat estimates in the previous quarter by a whopping 210%, and analysts have been impressed with Innophos's lack of debt and pricing gains despite the slowing economy, so, on average, they recommend buying IPHS.

Also early in the week, analysts expect Goodyear Tire & Rubber Co. (NYSE: GT), Kaiser Aluminum Corp. (NASDAQ: KALU), and Oshkosh Corp. (NYSE: OSK) to report that their profits fell 52.9% to $0.33 per share, 45.1% to $0.67 per share, and 41.2% to $0.67 per share, respectively. These companies have tended to beat estimates in recent quarters, and the consensus recommendations of analysts are to buy them. However, PMI Group Inc. (NYSE: PMI), one of the largest private mortgage insurance providers in the U.S., is expected to take another hit as the housing slump drags on. The California-based company is expected to have widened its net loss from $1.04 per share a year ago to $2.43 per share in the most recent quarter. Its shares are down 84.5% from a year ago, and have been trading recently near their 52-week low.

Continue reading The week in preview: Expectations remain high for energy and oil

The week in preview: Expectations remain high for energy and oil originally appeared on BloggingStocks on Sun, 02 Nov 2008 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: DOW, NASDAQ, and S&P up, however massive run leaves some in dust

Closing Bell: DOW, NASDAQ, and S&P up, however massive run leaves some in dust originally appeared on BloggingStocks on Fri, 19 Sep 2008 16:02:00 EST. Please see our terms for use of feeds.

With a turn of the calendar page, we drift into the middle portion of the current quarter, but the earnings season rolls on. Among the many companies scheduled to report quarterly results this coming week are Time Warner Inc. (NYSE: TWX), Cisco Systems Inc. (NASDAQ: CSCO), News Corp. (NYSE: NWS), and Whole Foods Market International (NASDAQ: WFMI). Let's take a look at which companies Wall Street analysts are expecting to be among the top earnings gainers and decliners this week.

Analysts surveyed by Thomson Financial expect the following to report strong earnings growth when compared to the same period of the previous year.

• DRS Technologies Inc. (NYSE: DRS): $0.85 EPS (+95.3%) on revenue of $823.8 million (+12.0%)
• Integrys Energy Group Inc. (NYSE: TEG): $0.40 EPS (+70.0%) on revenue of $2.6 billion (+9.7%)
• Cimarex Energy Co. (NYSE: XEC): $2.53 EPS (+64.4%) on revenue of $599.9 million (+75.4%)
• Forest Oil Corp. (NYSE: FST): $1.51 EPS (+55.6%) on revenue of $456.1 million (+79.1%)
• Devon Energy Corp. (NYSE: DVN): $3.28 EPS (+48.5%) on revenue of $4.1 billion (+38.5%)
• CMS Energy Corp. (NYSE: CMS): $0.13 EPS (+46.2%) on revenue of $1.4 billion (+6.7%)
• Transocean Inc. (NYSE: RIG): $3.23 EPS (+43.0%) on revenue of $3.1 billion (+112.9%)
• Sara Lee Corp. (NYSE: SLE): $0.26 EPS (+38.5%) on revenue of $3.5 billion (+8.9%)
• Williams Companies Inc. (NYSE: WMB): $0.69 EPS (+37.7%) on revenue of $3.4 billion (+20.0%)
• Harris Corp. (NYSE: HRS): $0.99 EPS (+28.3%) on revenue of $1.4 billion (+18.0%)

Continue reading The week in preview: Expectations remain high for energy and oil

The week in preview: Expectations remain high for energy and oil originally appeared on BloggingStocks on Sun, 03 Aug 2008 12:30:00 EST. Please see our terms for use of feeds.

In the expectations game, Citigroup (NYSE: C) $2.5 billion loss is great news for Wall Street. Bloomberg News reports that the analysts it surveyed expected a $3.67 billion loss, or 54 cents a share -- so Citi's results were $1.2 billion better than expected. But there were wide variations on what analysts expected Citi to lose -- from 51 cents to 67 cents.

This reminds me of the story of the boy who comes home from school to tell his mother about a grade he got on a test. Rather than bow his head in shame, he walks into the kitchen with head held high and a big smile on his face. And he announces: "Great news mom! I got a 70!"

The key reason for Citi's loss is the $7 billion in credit-related write-downs it took. These included reductions in the stated value of its subprime mortgage exposure and its investments in monoline insurance companies including Ambac Financial Group Inc. (NYSE: ABK) after they lost their AAA credit ratings. Analysts expected write-downs as high as $12 billion.

Continue reading Great News! Citi loses $2.5 billion

Great News! Citi loses $2.5 billion originally appeared on BloggingStocks on Fri, 18 Jul 2008 08:27:00 EST. Please see our terms for use of feeds.

Continue reading Cramer on BloggingStocks: The mortgage insurers created this mess

Cramer on BloggingStocks: The mortgage insurers created this mess originally appeared on BloggingStocks on Fri, 11 Jul 2008 08:38:00 EST. Please see our terms for use of feeds.

Ackman extends dire predictions to FSA originally appeared on BloggingStocks on Thu, 19 Jun 2008 16:44:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• According to Yahoo! Inc (NASDAQ: YHOO), the Wall Street Journal reported that a severance plan investor Carl Icahn said is "excessively expensive" would come into play if Icahn is successful in his plan to take control of the company's board; Yahoo! maintained that the plan is structured to prevent Yahoo! from altering or dismantling it while under a proxy challenge.
• The Financial Times reported that Lehman Brothers Holdings Inc (NYSE: LEH) almost reached a strategic deal with a group of Korean financial institutions as part of its recent capital raising initiative, and the investment bank may still sign an agreement with the Korean companies this year, inside sources said.
• According to the Financial Times, Merrill Lynch & Co Inc (NYSE: MER), UBS AG (NYSE: UBS) and Citigroup Incorporated (NYSE: C), which are most exposed to MBIA Inc (NYSE: MBI) and Ambac Financial Group Inc (NYSE: ABK), are facing further write downs of up to $10B after the bond insurers lost the battle to keep their triple A credit ratings in tact.
• A source familiar with the matter told dealReporter that Barnes & Noble Inc (NYSE: BKS) is conducting due diligence, but has not established whether it will competitively bid for Borders Group Inc (NYSE: BGP). Should Barnes & Noble indicate real interest, the biding process could be delayed, the source said.

• The Detroit News reported that Ford Motor Company (NYSE: F), in an effort to keep up with changing consumer demand in the U.S., is assembling a plan that will shift entire truck plants to car production.

Newspaper wrap-up: Lehman almost raised capital from Korean companies originally appeared on BloggingStocks on Wed, 11 Jun 2008 08:00:00 EST. Please see our terms for use of feeds.

Continue reading Cramer on BloggingStocks: Einhorn gutted Lehman, and that's OK

Cramer on BloggingStocks: Einhorn gutted Lehman, and that's OK originally appeared on BloggingStocks on Fri, 06 Jun 2008 09:22:00 EST. Please see our terms for use of feeds.

Continue reading Cramer on BloggingStocks: Deep in the heart of defaults

Cramer on BloggingStocks: Deep in the heart of defaults originally appeared on BloggingStocks on Fri, 30 May 2008 09:00:00 EST. Please see our terms for use of feeds.

Continue reading Cramer on BloggingStocks: Sometimes, you just have to relent

Cramer on BloggingStocks: Sometimes, you just have to relent originally appeared on BloggingStocks on Thu, 15 May 2008 09:22:00 EST. Please see our terms for use of feeds.

MBIA investors, ratings agencies shrug off $2.4 billion loss originally appeared on BloggingStocks on Tue, 13 May 2008 11:22:00 EST. Please see our terms for use of feeds.

• AFLAC Inc. (NYSE: AFL) reported better-than-expected earnings for the first quarter.
• Ambac Financial Group Inc. (NYSE: ABK) posted a wider-than-expected loss; shares hit new low.
• Amdocs Ltd. (NYSE: DOX) beat Q2 estimates on strength in the managed services businesses.
• Amphenol Corp. (NYSE: APH) beat expectations in the first quarter and raised its guidance.
• Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) posted a larger-than-estimated Q1 loss.
• Aptar Group Inc. (NYSE: ATR) posted record Q1 results and raised its Q2 guidance.
• Bank of America (NYSE: BAC) Q1 earnings plunged on further housing-related write-downs.
• Brinker International Inc. (NYSE: EAT) narrowly beat earnings expectations on cost cutting.
• Bristol-Myers Squibb Co. (NYSE: BMY) beat analysts' estimates for the first quarter.
• Credit Suisse Group (NYSE: CS) reported a wider-than-forecast loss on subprime-related write-downs.
• Cree Inc. (NYSE: CREE) earnings slipped while revenues soared 29%.
• Eli Lilly & Co. (NYSE: LLY) reported worse-than-expected Q1 earnings on discontinued product charge.
• Gannet Inc. (NYSE: GCI) beat low expectations as earnings and revenue continue slump.
• Hasbro Inc. (NYSE: HAS) posted better-than-expected Q1 earnings on international strength.
• JAKKS Pacific Inc. (NASDAQ: JAKK) missed Q1 expectations on restructuring and litigation costs.
• Kimberly-Clark Corp. (NYSE: KMB) beat EPS estimates by a penny, as revenue jumped 10%.

Continue reading Earnings highlights: Bank of America, Merck, Mattel, Phillip Morris, AFLAC and others

Earnings highlights: Bank of America, Merck, Mattel, Phillip Morris, AFLAC and others originally appeared on BloggingStocks on Sat, 26 Apr 2008 09:40:00 EST. Please see our terms for use of feeds.

After all of the talk of splitting itself into two pieces, a "bad" part and a "good" part, Ambac (NYSE: ABK) will probably operate as only one company. The theory had been that the healthy muni-bond insurance operation should be separated from the business that insured more risky derivative instruments.

Breaking the company in half always had a number of complications, the worst of which is what would happen to common shareholders? Would they get shares in the "good" part of the business? Perhaps, but outside firms putting in money might want to keep that for themselves. Shares in the "bad" part of the business would probably be worthless.

Another issue is the legal troubles a split might cause. According to the FT, this raised the "possibility of lawsuits by banks and other groups that bought insurance on CDOs and other structured products."

Ambak is almost certainly going to have to live with its two businesses under that same roof. If the structured finance business continues to fall apart, the real question is how much more money will the insurance company have to raise.

Douglas A. McIntyre is an editor at 27wallst.com.

Ambac (ABK) may not split itself in two originally appeared on BloggingStocks on Tue, 04 Mar 2008 09:09:00 EST. Please see our terms for use of feeds.

Warren Buffett pulls bond reinsurance plan off the table originally appeared on BloggingStocks on Mon, 03 Mar 2008 10:10:00 EST. Please see our terms for use of feeds.