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Earnings highlights: Hershey, Heinz, Burger King, Foot Locker, Saks and others

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

For more earnings highlights from this week, see: Home Depot, Lehman, Hewlett-Packard, Gap, BJ's and others

Upcoming quarterly reports include Big Lots (NYSE: BIG), Borders (NYSE: BGP), Rio Tinto (NYSE: RTP), Tivo (NASDAQ: TIVO), Novell (NASDAQ: NOVL), Dell (NASDAQ: DELL), Sears (NASDAQ: SHLD), and Tiffany (NYSE: TIF).

Visit AOL Money & Finance for more earnings coverage.

The week in preview: Expectations for home improvement, tech, apparel

Rival home improvement chains Home Depot Inc. (NYSE: HD) and Lowe's Companies Inc. (NYSE: LOW) are scheduled to report quarterly results this week. Not surprisingly, given the ongoing housing slump, analysts surveyed by Thomson Financial on average expect both companies to post earnings lower than in the same period a year ago. For Home Depot, that's 61 cents per share, down 20.8%, and for Lowe's, 56 cents per share, down 16.4%. Meanwhile, cabinet maker American Woodmark Corp. (NASDAQ: AMWD), for whom Home Depot and Lowe's are major distributors, is also expected to report lower earnings: 11 cents per share, down 67.6%.

The presidential campaigns have prompted much discussion of energy policy and alternative energy sources. Some solar-energy-related concerns are scheduled to report this week, and expectations seem to be high. Trina Solar Ltd. (NYSE: TSL) is expected to report 81 cents per share earnings, up 67.9%; ReneSola Ltd. (NYSE: SOL) is expected to post earnings of 32 cents per share, up 62.5%; and Suntech Power Holdings Co. (NYSE: STP) is expected to have earnings of 32 cents per share, up 21.9%. Even China Sunergy Co. Ltd. (NASDAQ: CSUN) is expected to have swung to a profit of 3 cents per share, from a per-share loss of 14 cents a year ago.

Continue reading The week in preview: Expectations for home improvement, tech, apparel

Analyst upgrades: SUN, VLO, UBS, LEH and SUPX

MOST NOTEWORTHY: Sunoco, Valero Energy, UBS AG, Lehman Brothers and Supertex were today's noteworthy upgrades:
  • Citigroup upgraded both Sunoco (NYSE: SUN) and Valero (NYSE: VLO) to Buy from Hold, as they believe both companies will benefit from the collapse of ethanol prices since refiners are mainly supplied under term contracts struck above current levels.
  • Merrill upgraded shares of UBS (NYSE: UBS) to Buy from Neutral to reflect the company's lack of exposure to fixed income.
  • Credit Suisse upgraded shares of Lehman Brothers (NYSE: LEH) to Outperform from Neutral citing improved performance prospects.
  • Supertex (NASDAQ: SUPX) was raised to Buy from Neutral at Oppenheimer. The firm expects a rebound in all business segments, Medical is entering a seasonally strong September quarter, and notes Motorola (NYSE: MOT) shipments are growing.
OTHER UPGRADES:

Symbol Lookup
IndexesChangePrice
DJIA+494.138,046.42
NASDAQ+68.231,384.35
S&P 500+47.59800.03

Last updated: November 21, 2008: 08:55 PM

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