Wednesday morning, banking giant Wells Fargo (WFC) announced that its fourth-quarter profit increased sharply thanks to improving customer payment habits and lower reserves to cover "souring loans."

During the quarter, Wells Fargo reported net income of 61 cents per share ($3.2 billion), matching the consensus estimate. A year earlier, the company earned 8 cents per share ($394 million) thanks to a large preferred dividend paid to the government (this payment was not necessary this year). The bank's CEO John Stumpf stated that the bank's business segments "contributed to earnings as the economy started to gain strength."

Continue reading Lower Reserves Lead to Higher Profit for Wells Fargo

Lower Reserves Lead to Higher Profit for Wells Fargo originally appeared on BloggingStocks on Wed, 19 Jan 2011 12:00:00 EST. Please see our terms for use of feeds.

Tuesday morning, Kellogg (K) announced that its third-quarter net income dropped 6% thanks to slumping cereal sales. In addition to the weakening cereal sales, Kellogg saw competition strengthen and continuing impact from a cereal recall.

First things first, the cereal king reported earnings of 90 cents per share ($338 million), which came in lower than last year's earnings of 94 cents per share ($361 million).

Continue reading Kellogg Reports Soggy Earnings Results

Kellogg Reports Soggy Earnings Results originally appeared on BloggingStocks on Tue, 02 Nov 2010 11:00:00 EST. Please see our terms for use of feeds.

Friday morning, U.S. oil refiner Sunoco (SUN) announced that it logged a third-quarter profit rather than a loss like last year's results.

Sunoco pulled in 54 cents per diluted share ($65 million) in the most recent quarter, better than the loss of 29 cents per share from a year ago. On an adjusted basis, Sunoco earned 22 cents per share. The stronger results were attributed to an improvement in earnings from the steel-making coal and logistics businesses.

Continue reading Sunoco Turns a Quarterly Profit, Misses Expectations

Sunoco Turns a Quarterly Profit, Misses Expectations originally appeared on BloggingStocks on Fri, 29 Oct 2010 12:00:00 EST. Please see our terms for use of feeds.

Financial firm JPMorgan Chase (JPM) released its much-anticipated third-quarter earnings Wednesday morning, revealing that its profit increased 23%. JPM earned $4.42 billion, or $1.01 per share, during the quarter -- far better than the $3.59 billion, or 82 cents per share, earned a year ago. Not only did JPM destroy last year's earnings, but the company also handily topped the consensus estimate of 90 cents per share.

One reason for the stronger-than-expected results is the fact that JPM set aside $1.55 billion for retail credit losses in the quarter compared to $3.99 billion a year ago. That said, CEO Jamie Dimon warned that loan losses are still high in the mortgage and credit card portfolios, but these losses aren't continuing to rise as they did during the recession. Dimon added that JPM is expecting losses in the credit-card division during the next quarter.

Continue reading JPMorgan Chase Earnings Increase 23%

JPMorgan Chase Earnings Increase 23% originally appeared on BloggingStocks on Wed, 13 Oct 2010 08:30:00 EST. Please see our terms for use of feeds.

Continue reading General Mills Profit Rises as Cereal, Organic Products Sales Grow

General Mills Profit Rises as Cereal, Organic Products Sales Grow originally appeared on BloggingStocks on Wed, 22 Sep 2010 10:30:00 EST. Please see our terms for use of feeds.

Continue reading AT&T Second-Quarter Earnings Increase, Boosts Forecast

AT&T Second-Quarter Earnings Increase, Boosts Forecast originally appeared on BloggingStocks on Thu, 22 Jul 2010 08:30:00 EST. Please see our terms for use of feeds.

Akron-based Goodyear Tire & Rubber (GT) announced that its first-quarter loss was "significantly smaller" than last year's first-quarter loss. The smaller loss was realized despite a one-time charge stemming from currency devaluation in Venezuela.

Goodyear's president and CEO Richard J. Kramer noted that the company is "very pleased with our strong first quarter [sic] performance," adding that the company believes it is "starting to see the benefits of the strategic actions [it] took last year, including [the] commitment to launch innovative new products during an economic downturn." Kramer attributes the company's gains in both sales and earnings to these strategic actions.

Continue reading Goodyear Tire & Rubber Narrows Quarterly Loss

Goodyear Tire & Rubber Narrows Quarterly Loss originally appeared on BloggingStocks on Wed, 28 Apr 2010 11:30:00 EST. Please see our terms for use of feeds.

Copier-and-printer firm Xerox (XRX) released first-quarter results Friday morning, topping the consensus estimate despite posting a loss of four cents per share.

The results were pulled lower by one-time charges related to layoffs and the company's acquisition of Affiliated Computer Services. Excluding one-time costs, Xerox earned 18 cents per share, a nickel better than the Street expected. Revenue increased 33% compared to a year ago, coming in at $4.7 billion. The revenue increase is credited to the addition of Affiliated's business outsourcing segment.

Continue reading One-Time Charges Force Xerox to a Quarterly Loss

One-Time Charges Force Xerox to a Quarterly Loss originally appeared on BloggingStocks on Fri, 23 Apr 2010 15:00:00 EST. Please see our terms for use of feeds.

Continue reading Constellation Brands Reports Quarterly Earnings

Constellation Brands Reports Quarterly Earnings originally appeared on BloggingStocks on Fri, 09 Apr 2010 10:10:00 EST. Please see our terms for use of feeds.

Continue reading Micron Technology Reports a Profit, Shares Rise

Micron Technology Reports a Profit, Shares Rise originally appeared on BloggingStocks on Thu, 01 Apr 2010 09:10:00 EST. Please see our terms for use of feeds.

Doughnut dean Krispy Kreme (KKD) baked up its third-quarter earnings, revealing a net loss of four cents per share. The quarterly earnings reflect provisions for the settlement of litigation and related legal costs, which totaled three cents per share. A year ago, Krispy Kreme lost nine cents per share in the third quarter.

Krispy Kreme's president and CEO noted, "Our results continued to improve year-over-year in the third quarter ... Our improved results are evidence of progress in implementing our strategic initiatives, which have us on a path toward building a growing, profitable business that is sustainable for the long term."

Continue reading Krispy Kreme reports better-than-expected quarterly results

Krispy Kreme reports better-than-expected quarterly results originally appeared on BloggingStocks on Mon, 07 Dec 2009 11:00:00 EST. Please see our terms for use of feeds.

Declining soup sales couldn't stem the tide of Campbell Soup's (CPB) earnings. The world's largest soup maker saw first-quarter earnings increase 17%, although soup sales dropped 3%.

The sultan of soup reported first-quarter earnings of 87 cents per share, six cents better than the consensus estimate. The strong results were attributed to lower costs and expenses. Unfortunately for Campbell, revenue did not meet expectations, totaling $2.2 billion when the Street expected $2.28 billion.

Continue reading Campbell Soup stirs up solid first-quarter earnings

Campbell Soup stirs up solid first-quarter earnings originally appeared on BloggingStocks on Mon, 23 Nov 2009 11:40:00 EST. Please see our terms for use of feeds.

Continue reading LDK Solar posts stronger-than-expected, third-quarter earnings

LDK Solar posts stronger-than-expected, third-quarter earnings originally appeared on BloggingStocks on Mon, 23 Nov 2009 09:30:00 EST. Please see our terms for use of feeds.

Continue reading Time Warner tops expectations in the third quarter

Time Warner tops expectations in the third quarter originally appeared on BloggingStocks on Wed, 04 Nov 2009 11:00:00 EST. Please see our terms for use of feeds.

Continue reading TD Ameritrade earnings drop but tops expectations

TD Ameritrade earnings drop but tops expectations originally appeared on BloggingStocks on Tue, 27 Oct 2009 10:00:00 EST. Please see our terms for use of feeds.

Speedy delivery service United Parcel Service (NYSE: UPS) delivered a mixed bag of third-quarter results on Thursday.

The company reported earnings of 55 cents per share, topping the consensus estimate by two cents per share. While these results were better than the consensus estimate, they are a far cry from the 96 cents per share earned in the same quarter a year ago.

Quarterly sales came in at $11.15 billion, short of the consensus estimate of $11.17 billion and last year's $13.1 billion.

Continue reading UPS delivers lower Q3 earnings

UPS delivers lower Q3 earnings originally appeared on BloggingStocks on Thu, 22 Oct 2009 09:20:00 EST. Please see our terms for use of feeds.

Continue reading Pepsi Bottling Group earnings miss expectations

Pepsi Bottling Group earnings miss expectations originally appeared on BloggingStocks on Tue, 06 Oct 2009 09:50:00 EST. Please see our terms for use of feeds.

Continue reading John Deere reports quarterly earnings that top expectations

John Deere reports quarterly earnings that top expectations originally appeared on BloggingStocks on Wed, 19 Aug 2009 09:05:00 EST. Please see our terms for use of feeds.

After the closing bell sounds this afternoon, LDK Solar (NYSE: LDK) will report quarterly earnings. Expectations are pegged at a loss of 91 cents per share for the solar firm, so what can you expect in the wake of the report? Let's take a look at LDK's technical prospects and what an earnings miss or stronger-than-expected earnings could do for the company.

First things first, LDK manufactures and sells solar wafers to other solar manufacturers, both in China (the company's home) and across the globe. The company performed well in the past, when the new global conscience had companies and individuals looking for cleaner forms of energy. Unfortunately, this little thing called a recession occurred, pulling many customers away from LDK and hurting the company on the bottom line.

Continue reading LDK Solar set to report quarterly earnings after today's closing bell

LDK Solar set to report quarterly earnings after today's closing bell originally appeared on BloggingStocks on Wed, 12 Aug 2009 11:40:00 EST. Please see our terms for use of feeds.

Late yesterday, MetLife (NYSE: MET) announced a second-quarter net loss of $1.74 per share, compared to earnings of $1.26 per share a year ago. The company blamed the loss on derivative losses of $1.8 billion, $1 billion of which was related to an increase in the company's own debt in the second quarter. Excluding charges, MET earned 88 cents per share for the quarter, topping the consensus estimate by 20 cents. The insurer's premiums, fees, and other revenue increased 4% to $8.38 billion thanks to a record amount of money spent in variable annuity products.

Variable annuities can be described as a contract between the purchaser and the insurance company. The insurer agrees to make payments to the purchaser either immediately or at a future date. Investment options for variable annuities are usually a mutual fund that invests in stocks, bonds, money market instruments, or a combination of the three.

Continue reading MetLife's second-quarter earnings top the Street's expectations

MetLife's second-quarter earnings top the Street's expectations originally appeared on BloggingStocks on Fri, 31 Jul 2009 10:30:00 EST. Please see our terms for use of feeds.