Exxon Mobil (NYSE: XOM) is set to face disgruntled shareholders, including members of the Rockefeller family at its annual meeting today. They want to split split Exxon's chairman and chief executive positions. Other proposals include seven about the company's environmental policies.
The Wall Street Journalreported that Bear Stearns (NYSE: BSC) plans to hand over documents to the Securities and Exchange Commission showing that several Wall Street firms, including Goldman Sachs (NYSE: GS), Citadel Investment Group and Paulson & Co., cut their exposure to Bear in the weeks leading up to its collapse.
United Parcel Service Inc (NYSE: UPS) shares rose in Europe after Merrill Lynch upgraded the company's stock from Neutral to Buy.
While the earnings season is beginning to wind down for the current quarter, there are still plenty of results to come. Here's a peek at what analysts surveyed by Thomson Financial are expecting from companies scheduled to report results in the final week of May 2008.
These companies are expected to post earnings growth, compared to the same period in the previous year:
Dell Inc. (NASDAQ: DELL) down 2.9% to 33 cents per share, on $15.66 billion in revenue
TiVo Inc. (NASDAQ: TIVO) is expected to swing to a loss of a penny per share, compared to a penny profit a year ago, and report $55.62 million in revenue. And analysts expect Borders Group Inc. (NYSE: BGP) to narrow its loss 7.8% to 47 cents per share, on $801.11 million in revenue.
Washington Mutual Inc. (NYSE: WM) announced after the market closed Thursday that it swung to a loss of $1.87 billion, or $2.19 per share, due to the disarray in the mortgage and credit markets. WaMu had been preparing Wall Street for the hit since December. Still, revenues fell 5% to $3.41 billion in the quarter, missing Wall Street's estimate of $3.51 billion. For 2007, WaMu posted a loss of $67 million, or 12 cents per share, on $11.11 billion in revenue, compared to a profit of $3.56 billion, or $3.64 per share, on $13.68 billion in revenue in 2006. CEO Kerry Killinger said in a conference call that 2008 won't be much better. However, by midday Friday shares were up more than 6%.
Johnson Controls Inc. (NYSE: JCI) reported Friday that its fiscal first-quarter profit rose 45% with growth across all divisions. Earnings grew to $235 million, or 39 cents per share, in the quarter ended December 31, from $162 million, or 27 cents per share, in the same period a year ago. Quarterly revenue climbed 16% to $9.48 billion from $8.21 billion a year ago. Analysts surveyed by Thomson Financial had expected profit of 37 cents per share on revenue of $9.1 billion. The company maintained its full-year 2008 forecast for earnings of $2.45 to $2.50 per share and revenue of $38 billion. After opening at $34.35 on Friday, shares fell to near $30 in morning trading.
For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.
"My conservative choice for 2008 is The Men's Wearhouse Inc. (NYSE: MW), one of the largest specialty retailers of men's suits," says value investor Charles Mizrahi, editor of Hidden Values Alert.
"Men's Wearhouse stores offer a broad selection of designer, brand-name and private label merchandise at prices 20% to 30% below the regular prices found at traditional department and specialty stores.
"The firm's US operations include 636 retail apparel stores. The brand targets middle- and upper-middle-income men by offering quality merchandise at everyday low prices. In addition to value, the company believes it provides a superior level of customer service.
"The shares outstanding have decreased by 10% over the past five years. In addition, long-term debt/equity is only 9% and it has $135 million in cash and short-term investments on its balance sheet (as of August 7, 2007).
No matter which way fashion winds may be blowing at the moment, traditional quality is always in style. There is a Houston-based outfit that works to maintain sartorial reliability, at shops throughout North America.
Men's Wearhouse (NYSE: MW) is a specialty retailer of men's clothing and accessories in the United States and Canada. The chain consists of 1,267 stores, operating under the names Men's Wearhouse, K&G, After Hours and Moores. The stores offer a broad selection of designer, brand name and private label men's businesswear, including a consistent stock of core offerings. The K&G subsidiary caters to more price sensitive customers and sells ladies' career apparel in about half the stores.
The firm pleased shareholders last week, when it said that it expected Q2 EPS to meet or exceed the high end of the company's initial guidance range of 88-92 cents. Analysts had been looking for 90 cents. Management cited stronger retail sales at the company's traditional Men's Wearhouse stores for the improved outlook.
While new fashion trends may tempt them, most men prefer to depend on the equilibrium of a good suit. There is a Houston-based firm that maintains reliability and quality along that line.
Men's Wearhouse (NYSE: MW) is a specialty retailer of men's clothing and accessories. The company's U.S. chain consists of 1,151 stores, operating under the names Men's Wearhouse, K&G and After Hours. The firm's Canadian chain includes 116 stores, operating under the Moores banner. The stores offer a broad selection of designer, brand name and private label men's businesswear, including a consistent stock of core offerings. The K&G subsidiary caters to more price sensitive customers and sells ladies' career apparel in about half the stores.
The firm pleased shareholders last week, when it reported Q1 EPS of 67 cents and revenues of $496.1 million. Analysts had been expecting $0.64 and $464 million. Management also guided Q2 EPS to $0.71-77 ($0.70 consensus) and FY07 EPS to $2.79-$2.91 ($2.85 consensus). The news popped the shares out of a late April/early May "cup" into the late May "handle" of a Cup & Handle formation. The price is now showing signs of completing the pattern with a bullish rise from the right-hand side of the "handle."
Brokers recommend the issue with five "strong buys," two "buys" and two "holds." Recent price targets are in the $55-$60 range. Analysts see a 15% average annual growth rate through the next five years. The stock's P/E ratio (17.12), PEG ratio (1.15), Price to Sales ratio (1.40), Price to Book ratio (3.48), Price to Cash Flow ratio (12.12), Price to Free Cash Flow ratio (25.42), EPS Growth rate (26.42%) Return on Assets (13.55%), Return on Investment (17.38%) and Return on Equity (22.20%) compare favorably with industry, sector and S&P 500 averages.
Institutional investors hold about 95% of the outstanding shares. The stock is one of those used to calculate the S&P 600 SmallCap Index. Over the past 52 weeks, it has traded between $29.81 and $51.55. A stop-loss of $44.25 looks good here.
Lowe's Companies Inc (NYSE: LOW) to report Q1 earnings; conference call at 9am. Lowe's is expected to post sub-par revenue results and an EPS decline, given the continued sluggishness in U.S. housing sector.
PDUFA date for Shire plc's (NASDAQ: SHPGY) SPD-465 for ADHD in adults.
Tuesday May 22
Staples Inc (NASDAQ: SPLS) to report Q2 earnings; conference call at 8am.
Men's Wearhouse Inc (NYSE: MW) to hold conference to at 5pm discuss Q1 earnings, detail its acquisition of After Hours and discuss the impact on 2007 guidance.
No matter how often trendy designers try to push them off on new tangents, men naturally gravitate back to the fashion equilibrium of a good suit. There is a Houston-based firm that maintains reliability and quality along that line, in shops throughout North America.
The Men's Wearhouse, Inc. (NYSE:MW) is a specialty retailer of men's clothing and accessories in the United States and Canada. The company's U.S. chain consists of 636 stores in 44 states, operating under the names Men's Wearhouse and K&G. The firm's Canadian chain includes 116 stores in all ten provinces, operating under the Moores banner. The stores offer a broad selection of designer, brand name and private label men's business wear, including a consistent stock of core offerings. The K&G subsidiary caters to more price sensitive customers and sells ladies' career apparel in about half the stores.
The firm pleased shareholders last week, when it announced solid Q4 results and issued Q1 and FY08 EPS guidance well above Wall Street views. Also, the Board of Directors approved a 20% increase in the company's quarterly cash dividend. The MW price popped through 30-day moving average resistance on the news and has since begun to define a bullish "flag" consolidation pattern. Stocks frequently exit flags moving in the same direction they were traveling when they entered them. In this case, that would be to the upside.
Brokers recommend the issue with five "strong buys," three "buys" and one "hold." Recent price targets are in the $50-$60 range. Analysts see a 15% average annual growth rate, through the next 5 years. The stock's P/E ratio (17.30), PEG ratio (1.16), Price to Sales ratio (1.32), Price to Book ratio (3.30), Price to Cash Flow ratio (11.81), EPS Growth rate (20.90%) Return on Assets (13.38%) and Return on Investment (16.92%) compare favorably with industry, sector and S&P 500 averages.
Institutional investors hold about 95% of the outstanding shares. The stock is one of those used to calculate the S&P 600 SmallCap Index. Over the past 52 weeks, it has traded between $29.81 and $48.32. A stop-loss of $40.85 looks good here.
Before the bell: Futures higher as oil drops further
Men's Wearhouse
For 25 years, Steven Halpern, editor of 
had been expecting $0.64 and $464 million. Management also guided Q2 EPS to $0.71-77 ($0.70 consensus) and FY07 EPS to $2.79-$2.91 ($2.85 consensus). The news popped the shares out of a late April/early May "cup" into the late May "handle" of a Cup & Handle formation. The price is now showing signs of completing the pattern with a bullish rise from the right-hand side of the "handle.".gif){kind=logo}
well above Wall Street views. Also, the Board of Directors approved a 20% increase in the company's quarterly cash dividend. The MW price popped through 30-day moving average resistance on the news and has since begun to define a bullish "flag" consolidation pattern. Stocks frequently exit flags moving in the same direction they were traveling when they entered them. In this case, that would be to the upside.
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