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Earnings highlights: Google, Intel, JPMorgan, Coca-Cola, Nokia and others

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

For more highlights from this week, see: Citigroup, eBay, IBM, Merrill Lynch, Microsoft and others

The earnings crunch continues next week. Among companies scheduled to report are Apple (NASDAQ: AAPL), Bank of America (NYSE: BAC), Merck (NYSE: MRK), Texas Intruments (NYSE: TXN), Caterpillar (NYSE: CAT), Halliburton (NYSE: HAL), United Parcel Service (NYSE: UPS), Wachovia (NYSE: WB), Yahoo! (NASDAQ: YHOO), Amazon (NASDAQ: AMZN), Anheuser-Busch (NYSE: BUD), AT&T Inc. (NYSE: T), McDonald's (NYSE: MCD), PepsiCo (NYSE: PEP), Pfizer (NYSE: PFE), Boeing (NYSE: BA), Hershey (NYSE: HSY), and Southwest Airlines (NYSE: LUV).

Visit AOL Money & Finance for more earnings coverage.

Rockwell Collins (COL) flying high

Rockwell Collins Incorporated (NYSE: COL) provides flight deck avionics, aircraft electronics, and aviation simulation equipment for commercial, government and regional aircraft. The company is currently flying high. Recently released 3Q earnings indicate net income increased 19% to $174 million. EPS gained 24% to $1.07, beating Wall Street estimates by $0.05. 3Q sales increased 7% to $1.2 billion, which translated into a $12 million increase in operating cash flow to $310 million.

While many economic sectors are facing a great deal of uncertainty, Rockwell Collins has locked in a number of government and commercial contracts that will translate into steady revenue growth well into the future. Defense spending increases annually and Rockwell Collins was recently awarded contracts by BOC to equip 47 new Airbus A320s, as well as another contract from Bombardier to supply avionics for its C series commercial aircraft.

Both the Commercial Systems and the Government Systems segments increased sales 7-8%. The company spent $81 million to buy back 1.4 million shares, with another quarter billion authorized for share repurchases. In view of all the contracts in the pipeline, the company has revised and improved its FY2008 guidance. FY2008 total sales are forecast at $4.75 billion, with FY EPS in the $4.05-$4.10 range. The stock is currently trading under $47, near its 52- week low of $44.53.

Analyst upgrades: CI, Analog semiconductors, HIL and VSEA

MOST NOTEWORTHY: Analog Semiconductors, Hill International and Varian Semi were today's noteworthy upgrades:
  • Lehman upgraded Analog Devices (NYSE: ADI), Fairchild Semi (NYSE: FCS), and Intersil Corp (NASDAQ: ISIL) to Overweight from Equal Weight. The firm believes Analog semis have one of the most attractive risk/reward profiles in technology and expects the group to outperform in 2008.
  • B. Riley raised Hill International (NYSE: HIL) to Buy from Neutral following the company's Q4 results which they believe continued to reflect strong growth across both segments of the business.
  • ThinkEquity upgraded Varian Semi (NASDAQ: VSEA) to Accumulate from Source of Funds citing valuation and expectations that the company will end up with over 70% of the overall implant market past 2008. The firm adds that scale and pricing power should drive upside to margins.
OTHER UPGRADES:
  • Collective Brands (NYSE: PSS) was raised to Buy from Hold at Soleil.
  • JP Morgan upgraded Rockwell Collins (NYSE: COL) to Overweight from Neutral.
  • UBS upgraded Cigna (NYSE: CI) to Buy from Neutral.

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Last updated: December 05, 2008: 02:56 AM

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