STZ posts
Posted Jun 28th 2009 12:30PM by Trey Thoelcke
Filed under: Earnings reports, Forecasts, H and R Block (HRB), General Mills (GIS), Economic data, Federal Reserve
Things will be pretty quiet again on the earnings front during this holiday-shortened week, so not much chance of fireworks there.
The one report analysts surveyed by Thomson Reuters seem to have the highest hopes for is that from Apollo Group Inc. (NASDAQ: APOL), as people look to education to better position themselves to survive the economic slump. For its fiscal third quarter, during which a new co-CEO was named, the Phoenix, Ariz.-based educational services provider is expected to report a profit of $1.12 per share, which is 24.1% higher than a year ago. Revenue is expected to be 24.3% higher to $1.0 billion. The full-year forecast is currently for $3.97 per share (+28.5%) on sales of $3.9 billion (+24.4%). Earnings have topped expectations in the past four quarters, by as much as 13 cents per share. The long-term EPS growth forecast is 15.9%, which is double the industry average, and the forward PE ratio estimate is 15.0. The First Call consensus recommendation remains to buy APOL; InvestorPlace calls it a stock you can trust. At $68.50, shares are down 10.6% since the beginning of the year, but they peeked above the 100-day moving average at the end of this week for the first time since March.
Continue reading The week in preview: A few chances for pre-holiday fireworks
Posted Apr 11th 2009 11:40AM by Trey Thoelcke
Filed under: Earnings reports, Brinker Intl (EAT), Alcoa Inc (AA), Bed Bath and Beyond (BBBY), Family Dollar Stores (FDO), Research in Motion (RIMM), Morgan Stanley (MS), Wells Fargo (WFC)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
Continue reading Earnings highlights: Family Dollar, Bed Bath & Beyond, Alcoa, Wells Fargo and more
Posted Jan 10th 2009 4:10PM by Trey Thoelcke
Filed under: Earnings reports, Wal-Mart (WMT), Intel (INTC), Bed Bath and Beyond (BBBY), Chevron Corp (CVX), Sears Holdings (SHLD), Family Dollar Stores (FDO)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
For more earnings highlights, see Time Warner, Satyam, Google, KB Home, Mosaic and others
Upcoming earnings releases include Alcoa Inc. (NYSE: AA), Infosys (NASDAQ: INFY), Linear Technologies (NASDAQ: LLTC) , Xilinx (NASDAQ: XLNX), Genentech (NYSE: DNA), Intel (NASDAQ: INTC), Marshall & Ilsley (NYSE: MI), Sealy (NYSE: ZZ), Johnson Controls (NYSE: JCI).
Visit AOL Money & Finance for more earnings coverage.
Posted Jan 8th 2009 7:10AM by Trey Thoelcke
Filed under: Earnings reports
While wine and spirits maker Constellation Brands Inc. (NYSE: STZ) said Wednesday that its fiscal third-quarter earnings tumbled 30% on restructuring costs and weaker sales, grocery store chain Supervalu Inc. (NYSE: SVU) reported a third-quarter loss because of hefty one-time charges.
For the quarter ended Nov. 30, Constellation Brands posted a profit of $83.5 million, or 38 cents a share, down 30.9% from a year earlier. Excluding one-time restructuring and acquisition-related charges and other special items, the world's biggest winemaker by volume earned $132 million, or 60 cents a share.
Sales were hurt by the stronger dollar, slipping 7.1% to $1.31 billion, with net sales excluding excise taxes falling 6% to $1.03 billion. Analysts surveyed by Thomson Reuters had expected earnings of 59 cents a share on sales of $1.13 billion.
Citing the impact of the economic downturn on its key markets, the company lowered the upper end its 2009 adjusted profit outlook to between $1.68 per share and $1.72 per share.
Shares fell on Wednesday by $1.39, or 8.2%, to close at $15.48, but regained much of that in afterhours trading. In the past three months, the share price has fallen 10.7%.
Continue reading Constellation Brands falls, Supervalu rises after Q3 reports
Posted Jan 7th 2009 8:21AM by Melly Alazraki
Filed under: Earnings reports, Analyst reports, Analyst upgrades and downgrades, Deals, Apple Inc (AAPL), Time Warner (TWX), Intel (INTC), Alcoa Inc (AA), Bank of America (BAC), Bed Bath and Beyond (BBBY), Dow Chemical (DOW), Analyst initiations
Alcoa, Inc. (NYSE: AA), the aluminum maker giant and a Dow component, said late Tuesday it will
cut 13,500 jobs, or 13% of its global workforce, as well as reduce aluminum production by an additional 135,000 metric tons per year, lowering output by 18% annually. Alcoa has been hit by the auto industry slowdown among other things and this is designed as cost-saving move to offset the declining demand. AA shares traded over 5% in premarket action at 7:30 am. AA shares traded 8% lower about an hour after open.
Bank of America Corp. (NYSE: BAC) sold part of its stake in China Construction Bank Ltd., China's second-biggest commercial lender, for $2.8 billion. BAC reduced its stake form 19.1% to 16.6%. Despite the $15 billion bailout money it received from the government, it seems BAC needs more money to cope with the worst financial crisis for banks since the 1930s. BAC shares were over 1% lower in premarket tade at 7:38 am. BAC shares were 2.5% lower around 10:20 am.
Satyam Computer Sciences (NYSE: SAY) shares crashed 84.5% in premarket trading at 7:45 am after the software firm announced it had
falsified accounts and assets for years and inflated cash and bank balances by more than $1 billion, leading the group's founder and chairman to quit. Credit Suisse said it was
suspending its coverage of Satyam.
Continue reading Stocks in the news: AA, BAC, SAY, MON, DOW, ROH, AAPL, INTC ...
Posted Jan 4th 2009 12:30PM by Trey Thoelcke
Filed under: Earnings reports, Forecasts, Bed Bath and Beyond (BBBY), Family Dollar Stores (FDO), KB HOME (KBH)
After the turn of the calendar page, quarterly reporting resumes this week. Analysts surveyed by Thomson Reuters are expecting to see strong earnings growth from fertilizer producer Mosaic Co. (NYSE: MOS), biotech giant Monsanto Co. (NYSE: MON), and Neogen Corp. (NASDAQ: NEOG), which produces food safety and animal health products. Mosaic's estimated earnings per share of $1.43 for the fiscal second quarter would be 41.9% higher than a year ago, and its revenue estimate of $3.0 billion is 36.7% higher. Monsanto's $0.59 per share projection for the fiscal first quarter is 22.0% higher and sales of $2.4 billion are up 14.9%. And Neogen's second-quarter $0.25 per share would be 12.0% higher, while its sales of $32.3 million are up 18.6%. All three have tended to beat expectations in recent quarters, and all three have buy recommendations from a consensus of analysts. Mosaic and Monsanto have recently announced dividends, and their share prices have fallen 62.3% and 39.0%, respectively, from a year ago. The share price of Neogen, which recently announced share buybacks, is only 0.8% lower.
Other companies expected to post modest earnings gains when they report this week include education company Apollo Group Inc. (NASDAQ: APOL), WD-40 Co. (NASDAQ: WDFC), and wine and spirits maker Constellation Brands Inc. (NYSE: STZ).
Continue reading The week in preview: Family Dollar, Bed Bath & Beyond, KB Home, and others
Posted Dec 31st 2008 4:00PM by Jamie Dlugosch
Filed under: Newsletters, Bargain stocks, Stocks to Buy, Recession
Are you ready to ring in the new year? I sure am. My wife and I have a bottle of champagne in the fridge and we can't wait to toast 2009.
Normally, we are not big drinkers, but I figured this year would be different. I can't say goodbye to 2008 fast enough. What will go down as one of the worst years in stock market history is plenty reason for us to break out the real stuff.
I suspect we are not alone in our craving for an adult beverage. It is true that during difficult times sales of libations increase. There is good reason for that, as many seek to escape, even for a moment, the challenges faced on a day-to-day basis.
Continue reading This recession is enough to drive people to drink: Buy Constellation Brands (STZ)
Posted Nov 13th 2008 11:00AM by Eric Buscemi
Filed under: Analyst upgrades and downgrades, Dell (DELL), General Motors (GM), Penney (J.C.) (JCP), American Express (AXP), Palm Inc (PALM), Analyst initiations, Las Vegas Sands (LVS)
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Analyst upgrades:
- Roth Capital upgraded Charlotte Russe (NASDAQ: CHIC) to Hold from Sell. The firm is positive on management's strategy to drive improved operating performance and is encouraged by the company's longer-term growth prospects.
- Banc of America upgraded shares of Las Vegas Sands (NYSE: LVS) to Neutral from Sell following the company's capital raise as they see a more balanced risk/reward at current levels. The firm lowered their target to $5 from $12.
- Constellation Brands (NYSE: STZ) was raised to Buy from Neutral at UBS.
- Credit Suisse upgraded Ameriprise (NYSE: AMP) to Outperform from Neutral.
- Bob Evans (NASDAQ: BOBE) was upgraded to Hold from Underweight at KeyBanc.
- J. Sainsbury (OTC: JSAIY) was upgraded to Buy from Hold at ING and to Neutral from Underweight at JP Morgan after the company topped earnings expectations.
Analyst downgrades:
- JP Morgan downgraded General Motors (NYSE: GM) to Neutral from Overweight citing the "ambiguity of government aid structure" and the likely dilution to equity. The analyst said GM needs money now to get past December 2008 and will need at least $15B to get through 2009, with the total bailout potentially reaching $30B.
- Goldman downgraded Dell (NASDAQ: DELL) to Sell from Neutral and added shares to the Conviction Sell List.
- J.C. Penney (NYSE: JCP) was lowered to Equal Weight from Overweight at Morgan Stanley.
Continue reading Analyst calls: LVS, GM, DELL, JCP, PALM, AXP, CHIC, STZ, AMP, BOBE
Posted Oct 2nd 2008 3:55PM by Trey Thoelcke
Filed under: Earnings reports, Marriott Intl'A' (MAR)
On Thursday, Marriott International Inc. (NYSE: MAR) said its third-quarter earnings fell 28% and warned of deteriorating conditions for 2009, and Constellation Brands Inc. (NYSE: STZ) posted a loss of nearly $23 million in its fiscal second quarter due to charges to reduce operations in Australia.
For the quarter ended Sept. 5, Marriott's net income slipped to $94 million, or 26 cents per share. Excluding a $29 million tax planning charge, adjusted income from continuing operations totaled $123 million, or 34 cents per share. Revenue rose 1% to $2.96 billion.
Analysts surveyed by Thomson Reuters had expected earnings of 32 cents per share on revenue of $2.95 billion.
Marriott said its revenue per available room declined in North America, and timeshare sales evaporated due to the tight credit market and cutbacks in business and consumer spending.
The Bethesda, Md.-based hotel company lowered its full-year 2008 earnings guidance to $1.62 to $1.68 per share, from its previous guidance of $1.77 to $1.88 per share. Analysts had forecast 2008 profit of $1.78 per share. For 2009, Marriott said the outlook is uncertain, but it expects the environment to remain challenging. Marriott said it will focus on cash flow by trimming investments and share repurchases.
Marriott shares fell $1.34, or 5.3%, to $23.74 Thursday. The stock price is down 30.5% year to date.
Continue reading Marriott Q3 profit declines, Constellation Brands posts a Q2 loss
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U.S. stocks may be poised to drop for a third day following yesterday's disappointing results from Alcoa Inc. (
Even if the national headlines weren't already providing enough focus on the economy, plenty of economic data is due out as the month and the quarter wind down. U.S. economic data scheduled to be released this week include:
Warren Buffett, tells us more!
Oil has dropped $13, so gasoline should drop 30 cents, Americans hope
Wal-Mart's new Supermercado concept could be huge
