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Earnings Highlights: Berkshire Hathaway, Costco, Safeway, Staples, Wendy's ...

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

  • Berkshire Hathaway Inc. (BRK.A) announced improved results year over year, with book value up nearly 20%.
  • BJ's Wholesale Club Inc. (BJ) Q4 earnings were in line with expectations but guidance for the year fell short.
  • Cbeyond Inc. (CBEY) received an analyst's downgrade and lowered price target following its Q4 results.
  • Costco Wholesale Corp. (COST) strong Q2 results fell short of analysts' estimates and shares declined.
  • Dress Barn Inc. (DBRN) said it swung to a profit in Q2 and same-store sales increased, and it raised its outlook.

Continue reading Earnings Highlights: Berkshire Hathaway, Costco, Safeway, Staples, Wendy's ...

Closing Bell: The One That Got Away (RSH, NFLX, BIG, HOV, MDVN, PFE)

Today started out strong on news of the Greek austerity plans, but the markets managed to give back most of the gains. The jobs data this morning was anemic, but offered some hope, and the ISM services data was promising. Even the Beige Book looked more positive than before with low inflation worries. Yet traders sold the market after President Obama talked health care reform again. Today was a mini-bull that got away.

Here are today's unofficial closing bell levels:
DJIA: 10,396.76 (-0.09%)
S&P500: 1,118.79 (+0.04%)
NASDAQ: 2,280.68 (0%)

Top Analyst Upgrades and Downgrades
Top Stock Market Rumors

Continue reading Closing Bell: The One That Got Away (RSH, NFLX, BIG, HOV, MDVN, PFE)

Analyst Upgrades, Downgrades and Initiations: AMTD, DELL, DWA, HD, MAT, MSFT, WFMI ...

Analyst Upgrades

  • Oppenheimer upgraded Home Depot (HD) to outperform from perform on expectations that comp sales growth in the home improvement retail sector will accelerate. The firm has a $37 price target for Home Depot shares. The firm also reiterates an outperform rating on Lowe's (LOW).
  • UBS upgraded Mattel (MAT) to buy from neutral, citing solid demand in core brands, strong free cash flow and improved cost structure, among other reasons. The firm raised its target to $26 from $21.
  • Thomas Weisel upgraded Dreamworks (DWA) to overweight from market weight, citing upcoming releases and increased international expectations. The firm raised its target to $47 from $40.
  • TD AmeriTrade (AMTD) was upgraded to outperform from market perform at FBR Capital.
  • Whole Foods (WFMI) was upgraded to overweight from neutral at JPMorgan.
  • Whiting Petroleum (WLL) was upgraded to overweight from equal weight at Barclays.

Continue reading Analyst Upgrades, Downgrades and Initiations: AMTD, DELL, DWA, HD, MAT, MSFT, WFMI ...

Earnings highlights: Best Buy, Discover, General Mills, Nike, Oracle, Rite Aid, Take-Two ...

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

  • Adobe Systems Inc. (ADBE) shares rose after lower Q4 earnings and revenue beat analysts' expectations.
  • Best Buy Inc. (BBY) shares sold off despite better-than-expected Q3 results due to the lower gross margin.
  • Charles Schwab Corp. (SCHW) warned that Q4 earnings would come in lower than the Street view
  • Discover Financial Services (DFS) shares were up after it reported better-than-expected Q4 earnings.
  • First Solar Inc. (FSLR) offered a solid 2010 outlook but the consensus EPS estimate is high in the range.
  • General Mills Inc. (GIS) strong Q2 results included better-than-expected earnings and a rosy outlook.

Continue reading Earnings highlights: Best Buy, Discover, General Mills, Nike, Oracle, Rite Aid, Take-Two ...

Closing Bell: The Dollar and Overseas Markets Weigh on U.S. (C, HOV, NEM, RIMM, SQNM, GS, FUN)

Jobless claims ticked back up yet again, and the global stock markets were all weak ahead of the opening bell in New York this morning. Throw in a stronger dollar and weak commodity prices, and you had almost no real chance for a sizable recovery into positive territory when you consider that the DJIA and S&P 500 are so close to 2009 highs.

Here were today's unofficial closing bell levels:

Dow 10,308.26 -132.86 (-1.27%)
S&P 500 1,096.12 -13.06 (-1.18%)
Nasdaq 2,180.05 -26.86 (-1.22%)

Top Analyst Upgrades/Downgrades
Top Day Trader Stocks

Continue reading Closing Bell: The Dollar and Overseas Markets Weigh on U.S. (C, HOV, NEM, RIMM, SQNM, GS, FUN)

The week in preview: Best Buy, General Mills, Oracle and more earnings expectations

Best Buy Inc. (BBY), which was a favorite on Black Friday, announced a partnership with Netflix (NFLX) and another one with Google (GOOG), as well as declared a quarterly dividend, during its fiscal third quarter. For the three months that ended in November, Best Buy is expected to report that earnings rose 18.6% from a year ago to $0.43 per share. Revenue is expected to total $11.9 billion, or 4.2% higher than a year ago. The full-year forecast is for a profit of $2.95 per share (+2.4%) on $48.6 billion (+7.8%) in sales. This Richfield, Minn.-based company has topped earnings estimates in three of the past four quarters, by as much as 21 cents per share.

Best Buy's long-term EPS growth forecast of 12.5% is better than that of Walmart (WMT). Best Buy's earnings multiple is 14x. Analysts, on average, recommend buying BBY and have for more than 90 days; two analysts recently raised their earnings estimates. The mean price target is $44.77. Shares have risen 11.5% in the past three months and recently reached a new 52-week high of $44.50.

Continue reading The week in preview: Best Buy, General Mills, Oracle and more earnings expectations

Debt-laden Hovnanian plans massive note sale to fund tender offer

Hovnanian Enterprises Inc. (NYSE: HOV) announced Monday morning that it will sell up to $775 million (WSJ subscription required) of seven-year notes in order to fund its previously reported tender offer for up to $759.3 million in debt. The struggling homebuilder also reported that $877 million of the notes were tendered by the early deadline on Friday. As a result, Hovnanian reduced the maximum amount of unsecured notes it will buy from $130 million to $100 million.

Last week, a Wall Street Journal article noted that Hovnanian is "hobbled" by its debt, even as the rest of the industry is ready to buy up land at a bargain. As of July 31, Hovnanian's net debt accounted for 109% of total capital, compared to an average of 26% for the dozen major homebuilders tracked by research firm Zelman & Associates.

Continue reading Debt-laden Hovnanian plans massive note sale to fund tender offer

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

Earnings highlights: Ciena, Del Monte, Hovnanian, Krispy Kreme, Movado ...

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

Continue reading Earnings highlights: Ciena, Del Monte, Hovnanian, Krispy Kreme, Movado ...

Hovnanian shares slide on earnings, housing woes

Shares of home-builder Hovnanian Enterprises Inc. (NYSE: HOV) fell sharply in trading Thursday, a day after the company reported a bigger loss than Wall Street had anticipated. By early afternoon, shares of the New Jersey-based company had fallen more than 13% to just over $4 a share.

In reporting its fiscal third quarter earnings Wednesday, Hovnanian said it lost $168.9 million, or $2.16 a share, in the three months ending July 31. That compares with a loss of $202.5 million, or $2.67 a share, in the year-earlier period. Revenue fell 45% to $387.1 million. The company noted its latest quarterly results included $105.7 million in pretax charges to reflect the declining value of land and other assets.

Continue reading Hovnanian shares slide on earnings, housing woes

Analyst upgrades, downgrades and initiations: AAPL, APC, CAB, DE, HOV, MVL ...

Analyst upgrades:

  • FBR Capital upgraded Anadarko Petroleum (NYSE: APC) to Outperform from Market Perform to reflect upcoming catalysts and the company's opportunity in subsalt. FBR raised its target on shares to $60 from $50.
  • Citigroup upgraded Marvel (NYSE: MVL) to Hold from Sell on expectations the acquisition by Disney (NYSE: DIS) will close. The firm raised its target on shares to $50 from $31.
  • JPMorgan upgraded Cubic (NYSE: CUB) to Overweight from Neutral on expectations the company will benefit from the Vix ERG acquisition and increased sales visibility. The firm raised its target on shares to $43 from $38.
  • Siemens (NYSE: SI) was upgraded to Outperform from Market Perform at Bernstein.
  • Deutsche Telekom (NYSE: DT) was upgraded to Neutral from Underperform at Credit Suisse.
  • Thompson Creek (NYSE: TC) was upgraded to Sector Outperformer from Sector Performer at CIBC.

Continue reading Analyst upgrades, downgrades and initiations: AAPL, APC, CAB, DE, HOV, MVL ...

Toll Brothers earnings preview: A big Q3 loss expected

Luxury homebuilder Toll Brothers Inc. (NYSE: TOL) is scheduled to discuss its fiscal third-quarter 2009 results tomorrow in a conference call at 2:00 PM ET hosted by CEO Robert I. Toll. You can catch the live webcast of the call on the company's website.

Recent good news about the housing sector ought to be good news for homebuilders such as Toll Brothers. Yet, for the three months that ended July 31, analysts surveyed by Thomson Reuters expect the Pennsylvania-based company to report that its net loss widened to $1.74 per share from $0.18 per share a year ago. That largely due to the fact that revenue for the quarter is expected to have fallen 42.3% to $460.2 million, because of of falling home prices, tighter mortgage lending standards, and rising unemployment.

Continue reading Toll Brothers earnings preview: A big Q3 loss expected

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 ...

Earnings highlights: Google, KKR, Krispy Kreme, Williams-Sonoma, Guess? and more

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

Continue reading Earnings highlights: Google, KKR, Krispy Kreme, Williams-Sonoma, Guess? and more

Hovnanian's Q1 shows an improvement

Hovnanian Enterprises (NYSE: HOV), a home builder whose related companies include Toll Brothers (NYSE: TOL), Lennar Corp. (NYSE: LEN), and D.R. Horton (NYSE: DHI), reported Q2 results on Tuesday after the bell. The company reported a loss of $1.50 per share (the results included a gain related to debt extinguishment). That unfortunately did not meet analyst expectations according to Trey Thoelcke's earnings preview. Analysts were looking for a loss of $1.26 per share.

However, things do look better. Last year at this time, the loss recorded by Hovnanian was a whopping $5.29 per share. Revenues, however, plummeted to $398 million from over $770 million. Analysts were expecting only $348 million according to the preview.

Continue reading Hovnanian's Q1 shows an improvement

Next Page >

Symbol Lookup
IndexesChangePrice
DJIA-59.1810,719.99
NASDAQ-21.852,369.43
S&P 500-7.141,158.68

Last updated: March 19, 2010: 01:34 PM

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