EarningsSurprises posts
FeedPosted Sep 24th 2008 5:47PM by Michael Fowlkes (RSS feed)
Filed under: After the bell, Earnings reports, Good news, From the boards, NIKE, Inc'B' (NKE)
Shares of sports shoes and apparel giant
Nike (NYSE:
NKE) are trading up over 5% after hours today, following
strong earnings for its fiscal first quarter.
As I noted in my
earnings preview earlier this week, Wall Street was looking for 92 cents earnings per share for Nike's first fiscal quarter. The company surprised to the upside with a reported EPS of $1.03 a share. While this is down year-over-year from the $1.12 EPS it reported last year in the first quarter, it was still a good quarter considering the current economic environment.
Revenues grew nicely for Nike in the quarter, up a very respectable 17% to $5.4 billion. This also came in above analyst estimates of $5.19 billion.
One aspect of the company's overall business I discussed in the preview was that last quarter the company was able to overcome weak U.S. sales numbers by posting strong growth in international markets. This quarter, too, a weak U.S. dollar has helped boost sales in India and Asia, in particular China, where the recent summer Olympic games were held.
Continue reading Nike (NKE) jumps after hours following Q1 earnings
Posted Jul 10th 2008 9:35AM by Michael Fowlkes (RSS feed)
Filed under: Before the bell, International markets, Earnings reports, Forecasts, Bad news, Management, Competitive strategy, Recession
As we discussed in our
earnings preview yesterday, hotel manager
Marriott International (NYSE:
MAR) reported its second quarter numbers this morning, and as we expected, we were given some
more troublesome news from the company.
First the good news. While analysts had been expecting to see the company show earnings of 49 cents a share, the company was actually able to come in higher, with 51 cents per share. However, despite showing 2 cents better than expected, this still represents an 11% drop in earnings from continuing operations.
With so much uncertainty around the company going into this morning's earnings report, you may assume that beating its number by 2 cents would have the stock moving higher in premarket trading. Well, you would be wrong. The stock is actually trading down a little more than 6% following the news.
Continue reading Marriott (MAR) beats estimates, but lowers forecasts
Posted Nov 29th 2007 3:51PM by Michael Fowlkes (RSS feed)
Filed under: Major movement, Earnings reports, Forecasts, Bad news, From the boards, Products and services, Management, Consumer experience, Competitive strategy, Wal-Mart (WMT), Home Depot (HD), Marketing and advertising, Target Corp. (TGT), Sears Holdings (SHLD)
Shares of
Sears Holding Corp. (NYSE:
SHLD) have been taking a beating in today's action after a
dismal third quarter earnings report this morning. At one point shares had dipped as much as 16%, but with an hour left to go in the session shares have moved slightly higher, only showing a 12% drop as shares are trading down $14 to $101.56.
If you ask me, the stock is doing better than it probably should, considering just how poor this morning's report was. Analysts had been expecting to see the retailer show net income of 53 cents per share for its third quarter. The actual net income? ONE PENNY! It is not often that you see such a miss.
During 2007 the company showed earnings of 80 cents for its third quarter, and today's report represents the largest year over year drop in income since Sears and K-Mart merged back in 2005, and the first consecutive quarter earnings decline.
Continue reading Sears (SHLD) gets beat up after posting 99% drop in net income
Posted Nov 1st 2007 8:52AM by Michael Fowlkes (RSS feed)
Filed under: Before the bell, Earnings reports, Bad news, Competitive strategy, Exxon Mobil (XOM), Oil
As I noted in the
earnings preview earlier this week,
Exxon Mobil Corp. (NYSE:
XOM) was going to be under pressure from narrowing margins, and that is exactly what happened, pushing its third quarter
profit down by 10%.
Analysts had expected to see the world's largest oil company to show earnings of $1.75 per share for the quarter, but with the tighter margins, Exxon's earnings were only able to come in at $1.70 per share. Net income was $9.41 billion. This is down from $10.49 billion, or $1.77 per share during the third quarter last year.
Rising oil prices are typically considered to be a blessing for big oil companies, but the opposite side of the equation is that they result in tighter refining margins, and that is exactly what happened to Exxon Mobil this time around. Also adding to the company's decline were gasoline prices, which fell by around 6% during the quarter.
This is only the first time since 2002 that the company has posted two consecutive quarters of profit declines. In the premarket, early morning traders are pushing the stock down 1.6% in reaction to today's earnings news.
Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer. DISCLOSURE: Mr. Fowlkes owns and/or controls diversified portfolios of long and short stock and option positions that include holdings in XOM.
Visit AOL Money & Finance for more earnings coveragePosted Oct 23rd 2007 1:17PM by Michael Fowlkes (RSS feed)
Filed under: Major movement, Earnings reports, Forecasts, Bad news, From the boards, Consumer experience, Competitive strategy
Shares of printer maker
Lexmark (NYSE:
LXK) have been taking a hit today after the company reported its third quarter earnings this morning. The stock has
traded down 7.8 percent in early morning trading.
The company blamed the weak quarter on poor printer sales, which contributed to a 47% decline in quarterly profit for the quarter. Lexmark sold fewer printers in the quarter than it had anticipated, with laser printer shipments dropping 7 percent.
Net income was reported to be $45.2 million, or 48 cents for the quarter. This is well below the $85.6 million, or 85 cents that the company reported during the same period last year. Revenue was down 3 percent to $1.195 billion.
Lexmark also discussed a restructuring plan that it estimates will cost around $90 million between now and the end of 2008.
Looking ahead to the fourth quarter, the company expects to see revenue in the low-single-digit range, with earnings of 42 cents per share.
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Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer
Visit AOL Money & Finance for more earnings coverage
Posted Apr 24th 2007 12:01PM by Beth Gaston Moon (RSS feed)
Filed under: Major movement, Earnings reports, Good news, Coach Inc (COH)
A couple of months ago, I
mentioned that while a
Coach (NYSE:
COH) handbag can be quite the splurge, shares of the luxury-goods retailer could potentially be a prudent investment. Since this posting, the stock has gained nearly 15%, hitting a new all-time high in Monday's session.
This morning, the company said its third-quarter net income
surged 38 percent, to $150 million, or 40 cents per share. Revenue increased 30 percent to $625.3 million. Both of these figures surpassed analysts' expectations of 38 cents per share and $617.6 million, respectively.
Peeking in on sales, direct-to-consumer sales rose 29 percent to $481 million, while same-store sales expanded 20 percent. The newly introduced Coach fragrance accounted for three percent of retail sales during the latest reporting period. No word on what percentage of COH sales came from various car trunks in Manhattan.
Continue reading A brand-new bag: Coach reports earnings
This morning food maker General Mills, Inc. (NYSE: GIS) reported its fiscal first numbers. The company posted better than expected earnings and lifted its forward guidance.
Ray of light: U.S. temp worker hiring increased by 34k in October
Closing Bell: Bulls gutting bears (ATVI, EWBC, GE, JASO, ENZN, MCD)
Goldman Sachs CEO Lloyd Blankfein pulls a Jeff Skilling in an interview