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Earnings highlights: Nike, Walgreen, Jabil Circuit, Gannett, Darden ...

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

Continue reading Earnings highlights: Nike, Walgreen, Jabil Circuit, Gannett, Darden ...

The week in preview: Is the rally over?

Autumn has arrived and the quarter winds down this week. The Dow has been inching toward 10,000 for a while now, though it closed lower in the past three sessions. Can it make it to 10,000 for the start of the third quarter? If so, what will push it higher? If not, what will drag it down further?

Continue reading The week in preview: Is the rally over?

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 ...

Jabil Circuit's Q3 report doesn't make stock a compelling buy

I was wrong about Jabil Circuit (NYSE JBL). When I wrote about the tech company's last earnings report, I said I wasn't a buyer. I should have been. The stock rose quite a bit after I presented my thoughts to the world. In fact, the stock closed up well over 7% on Tuesday, settling out to a price of $7.12 per share. Volume was extremely active.

Obviously, investors were setting themselves up ahead of the Q3 release. Jabil earned, on an adjusted basis, 4 cents per share. According to Reuters, the market was only counting on 2 cents per share.

Continue reading Jabil Circuit's Q3 report doesn't make stock a compelling buy

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: Best Buy, Walgreen, Tiffany, Research in Motion, KB Home and more

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

Continue reading Earnings highlights: Best Buy, Walgreen, Tiffany, Research in Motion, KB Home and more

Jabil Circuit beats the analysts, but risks remain

Electronics manufacturer Jabil Circuit (NYSE: JBL), a colleague of Flextronics (NASDAQ: FLEX), reported earnings for the second quarter on Tuesday after the market closed for the day.

The results didn't get me too excited, but the market did buy the stock in the after-hours session, sending the shares higher by well over 4%. I guess we'll have to agree to disagree.

On an adjusted basis, Jabil earned 13 cents per diluted share. That beat estimates by a penny. However, the bottom line dropped by 35%. Furthermore, the top line had shed over 5% during the quarter.

Continue reading Jabil Circuit beats the analysts, but risks remain

Analyst calls: RTP, INTC, VIA.B, TEF, BRCD, JBL, ERIC, CEPH ...

Analyst upgrades:
  • Citigroup upgraded shares of Ball (NYSE: BLL) to Buy from Hold and raised its target to $45 from $41 as they believe recent capacity closures will be positive for beverage can operating rates.
  • Deutsche Bank upgraded Rio Tinto (NYSE: RTP) to Buy from Hold on valuation and the company's plans to preserve cash.
  • ThinkPanmure upgraded Intel (NASDAQ: INTC) to Accumulate from Sell and raised its target to $17 from $12 citing trough earnings in 2009 and lowered expectations.
  • Viacom B (NYSE: VIA.B) was added to Goldman's Conviction Buy List.
  • Telefonica (NYSE: TEF) was upgraded to Outperform from Neutral at Credit Suisse.
  • Onyx Pharma (NASDAQ: ONXX) was raised to Overweight from Neutral at JP Morgan.
Analyst downgrades:

Continue reading Analyst calls: RTP, INTC, VIA.B, TEF, BRCD, JBL, ERIC, CEPH ...

Analyst calls: ING, WFC, DLTR, JBL, AMLN, ECL, KO, IACI, FFIV ...

Analyst upgrades:
  • Keefe Bruyette upgraded shares of ING Group (NYSE: ING) to Outperform from Market Perform after upgrading the European insurance sector to Overweight from Neutral due to improved risk management.
  • Keefe Bruyette also upgraded Wells Fargo (NYSE: WFC) to Market Perform from Underperform to reflect the company's national footprint if the Wachovia (NYSE: WB) deal goes through.
  • JP Morgan upgraded Dollar Tree (NASDAQ: DLTR) to Overweight from Neutral citing top line performance, growth profile and valuation, among other reasons.
  • Jabil Circuit (NYSE: JBL) was upgraded to Outperform from Neutral at Credit Suisse.
  • Amylin Pharma (NASDAQ: AMLN) was raised to Hold from Sell at Citigroup.
  • Louisiana Pacific (NYSE: LPX) was upgraded at RBC Capital to Sector Perform from Underperform.
Analyst downgrades:
  • Jefferies downgraded shares of Ecolab (NYSE: ECL) to Hold from Buy and lowered its target to $50 from $55 to reflect risks to the company's earnings outlook from the weakening economy.
  • Coca-Cola (NYSE: KO) was cut to Hold from Buy at Deutsche Bank as they believe the economic slowdown will bring slower volumes. Coca-Cola's target was lowered to $56 from $64.

Continue reading Analyst calls: ING, WFC, DLTR, JBL, AMLN, ECL, KO, IACI, FFIV ...

Before the bell: Stocks to tank; WM, RIMM, AAPL, MSFT, HBC, KBH, JBL

Just one day after investors ran up stocks in expectation of a bailout plan, U.S. stock futures dropped significantly Friday as the $700 billion bailout plan wasn't approved after all and as Washington Mutual was seized by regulators in the country's largest-ever failure. Discussions over the bailout are still ongoing, while JPMorgan Chase was forced to acquire the rest of WaMu. To add to an already tense environment, the final release of the second-quarter GDP is due at 8:30 a.m. EDT, and the September University of Michigan's consumer confidence index is due out at 10 a.m EDT.

Washington Mutual Inc. (NYSE: WM) was seized by the Federal Deposit Insurance Corp. on Thursday, and then sold the thrift's banking assets to JPMorgan Chase & Co. (NYSE: JPM) for $1.9 billion. It was the largest failure by a U.S. bank. JPMorgan also said it would raise another $8 billion through the sale of stock. WM shares are down nearly 85%, JPM's down over 2% in pre-market trading.

Research In Motion Ltd. (NASDAQ: RIMM) posted a sharply higher quarterly profit on Thursday, in line with expectations, but gave a forecast that was below expectation. Investors are concerned that as the economy slows, RIM's large corporate clients could scale back BlackBerry purchases and upgrades. Deutsche Bank downgraded RIM from Hold to Sell, saying it relies more on hardware sales thse days, which means new product launches in this environment could worsen. RBC Capital Markets also downgraded RIM from Outperform to Sector Perform, but Credit Suisse, upgraded RIM from Underperform to Neutral. RIMM shares are down over 20% in pre-market trading.

Continue reading Before the bell: Stocks to tank; WM, RIMM, AAPL, MSFT, HBC, KBH, JBL

The week in preview: A bottom for the housing sector?

Earnings reports continue to dribble in as the quarter winds down. Much of the attention this week will be on homebuilders KB Home (NYSE: KBH) and Lennar Corp. (NYSE: LEN) as investors look for any sign that the housing sector has bottomed (home sales numbers are also due out this week; see below). Analysts surveyed by Thomson Financial anticipate that both companies will report that they narrowed their losses in the most recent quarter.

KB Home's expected $1.25 per share loss, on revenue of $725.5 million, compares to the previous quarter loss of $3.30 and to a year-ago loss of $6.19. However, KB Home's losses in the past few quarters have been deeper than expected. The Los Angeles-based homebuilder's long-range earnings growth forecast is 10.5%, less than the S&P 500. Analysts continue to recommend holding KB Home, and have for at least 120 days. Shares, however, reached a new 52-week high of $31.69 on Friday, and they are up 10.5% year to date.

Lennar is expected to post a loss of 52 cents per share, on revenue of $1.1 billion. That compares to the previous quarter's per-share loss of 76 cents and to a year-ago loss of $3.25. While Lennar also has tended in the past few quarters to miss expectations, the Miami-based company managed a positive surprise in the first quarter of 2008. Lennar's long-range earnings growth forecast is 10.3%, about the same as KB Home's. Analysts also recommend holding Lennar. Friday, shares of Lennar also reached a 52-week high, $27.75, but they are down 6.4% year to date.

Continue reading The week in preview: A bottom for the housing sector?

Earnings highlights: RIM, Oracle, KB Home, Nike, Kroger, Walgreen and others

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

Continue reading Earnings highlights: RIM, Oracle, KB Home, Nike, Kroger, Walgreen and others

Jabil Circuit (JBL): Price defines bullish 'flag' pattern

Jabil Circuit (NYSE: JBL) is a leading electronics manufacturing services firm, providing comprehensive design, manufacturing and product management services to global electronics and technology companies. The firm works for original equipment makers in the automotive, storage, medical, networking, telecommunications, computer and consumer products industries. Top customers include Cisco Systems (NASDAQ: CSCO), Hewlett-Packard (NYSE: HPQ) and Nokia (NYSE: NOK).

The company had good news for investors earlier in the week, when it reported fiscal Q3 EPS of 26 cents and revenues of $3.09 billion. Analysts had been looking for 20 cents and $3.08 billion. Management also guided Q4 EPS to 29-33 cents (29 cent consensus) and Q4 revenues to $3.2-$3.3 billion ($3.19B consensus). Credit Suisse subsequently reiterated its "neutral" rating on the stock, but RBC Capital Markets repeated an "outperform" recommendation and Needham said "buy" again.

Continue reading Jabil Circuit (JBL): Price defines bullish 'flag' pattern

Before the bell: JBL, COMS, PIR, MON, RIMM, BA, F ...

Before the bell: Futures higher ahead of data, Fed

Reporting today are the agrichemicals firm Monsanto (NYSE: MON) -- AP Preview, and after the close, software giant Oracle (NASDAQ: ORCL) and Nike (NYSE: NKE).

Reported Tuesday:
  • Jabil Circuit (NYSE: JBL) shares are up nearly 11% in premarket trading after the company reported its profit soared as revenue grew and costs declined, topping third-quarter earnings estimates. Merrill Lynch upgraded Jabil from Neutral to Buy.
  • Red Lobster operator Darden Restaurants (NYSE: DRI) shares are up 1.9% in premarket trading after it also topped quarterly earnings estimates, postinga higher quarterly profit, boosted by the Olive Garden chain, and lower costs that helped raise operating profit at its Red Lobster chain.
  • 3COM (NASDAQ: COMS) shares also rose over 6% in after-hours trading after it posted higher than expected revenue.

Meanwhile Pier 1 Imports (NYSE: PIR) shares were also nearly 5% higher in after-hours trading Tuesday after the retailer said it abandoned plans to take over rival home furnishings retailer Cost Plus (NASDAQ: CPWM) for $88 million.

Continue reading Before the bell: JBL, COMS, PIR, MON, RIMM, BA, F ...

Pre-market movers (BCS) (JBL) (ESLR)

Jabil Circuit (NYSE:JBL) is up over 10% after strong earnings.

3COM (NASDAQ:COMS) is up 6% after posting a robust quarter.

Barclays (NYSE:BCS) is up almost 6% on news it had raised $8.9 billion.

Evergreen Solar (NASDAQ:ESLR) is off 4% after saying it would sell $300 million in notes.

Sonic (NASDAQ:SONC) is down almost 3% on earnings which were under Wall St. forecasts.

Shares may trade differently in the pre-market than in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

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Symbol Lookup
IndexesChangePrice
DJIA-17.2410,433.71
NASDAQ-6.832,169.18
S&P 500-0.591,105.65

Last updated: November 25, 2009: 07:36 AM

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