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Week in Preview: The Earnings Crunch Rolls On (MSFT, COP, V)

earnings expectationsThe earnings crunch continues this week, and analysts surveyed by Thomson Reuters are anticipating lots of strong quarterly reports.

For example, year-over-year earnings growth from big oil Chevron (CVX), ConocoPhillips (COP), ExxonMobil (XOM) and Royal Dutch Shell (RDS.A) are expected to be in double digits. The same is true of many other energy and mining concerns reporting this week: Allegheny Technologies (ATI), Alliant Energy (LNT), Arch Coal (ACI), Cliffs Natural Resources (CLF), CMS Energy (CMS), CONSOL Energy (CNX), DPL (DPL), Hess Corp. (HES), Minerals Technologies (MTX), Pioneer Natural Resources (PXD), PPL Corp. (PPL), Southwestern Energy (SWN), Total (TOT), Whiting Petroleum (WLL), Williams Companies (WMB) and Wisconsin Energy (WEC).

Continue reading Week in Preview: The Earnings Crunch Rolls On (MSFT, COP, V)

Earnings Highlights: Aol, Burger King, Comcast, Hershey, Kellogg, UPS ...

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

  • Aol Inc. (AOL) reported a better-than-expected Q4 profit and said its revenue also topped estimates.
  • Burger King Holdings Inc. (BKC) higher Q2 earnings topped analysts' estimates but same-store sales fell.
  • Clorox Co. (CLX) higher Q2 earnings beat expectations and it lifted its full-year earnings guidance.
  • Comcast Corp. (CMCSA) Q4 earnings more than doubled and beat Wall Street expectations, but shares fell.
  • Gap Inc. (GPS) shares jumped after it forecast earnings above analysts' expectations, boosted by January sales.

Continue reading Earnings Highlights: Aol, Burger King, Comcast, Hershey, Kellogg, UPS ...

Clearwire nabs $1.5 billion

The vision of Clearwire (CLWR) is definitely ambitious: to "give you faster Internet at home, at work and on the go, so that people everywhere will have the magic of the Internet with them all the time." This means building a sophisticated network across the country, which does not come cheap.

Tuesday, Clearwire announced yet another financing round, which comes to $1.56 billion. The investors include Sprint Nextel (S), Comcast (CMCSA), Time Warner Cable (TWC), Intel (INTC), Eagle River Holdings LLC, and Bright House Networks LLC.

Continue reading Clearwire nabs $1.5 billion

Closing Bell: FOMC help & no help ( CMSCA, GRMN, PHM, JAVA, TWX)

Today was an odd trading day considering that the FOMC meeting seemed to command far less media time than in the past, but that was because no real changes in its stance were expected. And the FOMC made the pledge to keep rates low for extended periods.

There was also a mixed picture on ADP and Challenger jobs data ahead of tomorrow's weekly jobless claims and ahead of Friday's key unemployment data. Gold continued its run along with higher oil on weekly inventory data.

Here were the unofficial closing bell levels:

Dow 9,862.44 +90.53 (0.93%)
S&P 500 1,046.50 +1.09 (0.10%)
Nasdaq 2,055.52 -1.80 (-0.09%)

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Continue reading Closing Bell: FOMC help & no help ( CMSCA, GRMN, PHM, JAVA, TWX)

Companies that vanished: Adelphia

This post is part of a series on some of the most memorable companies that have disappeared.

I can't say I had much personal experience with Adelphia, which was the fifth largest cable company in the country when it filed for bankruptcy in 2002. But I did follow the case of the Rigas' family with interest. Dad and founder John and son Timothy Rigas ended up going to jail after treating this huge public company like their own personal candy store.

Founded in 1952 in Coudersport, Penn., Adelphia's name came from the Greek word for brother. The company went public in 1986 and grew by acquisition -- buying up smaller cable providers.

The company went bankrupt in 2002 after disclosing $2.3 billion in debt that was kept off the balance sheet. Federal prosecutors charged the Rigases and other officers of looting the company of an estimated $100 million, much of it spent on ridiculous excess -- like spending $6,000 to have Christmas trees flown in to New York.

Both Rigas men were found guilty and in 2007 started serving time in a Federal prison in Raleigh, North Carolina.

Time Warner Cable (NYSE: TWC) and Comcast (NASDAQ: CMCSA) bought up Adelphia's cable business in 2006, splitting up the customers by region.

Let us know in the comments what you miss about Adelphia. And be sure to check out other Companies That Have Vanished.

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 04:05 AM

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