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Earnings highlights: Best Buy, FedEx, Campbell, National Semiconductor, Talbots ...

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

Continue reading Earnings highlights: Best Buy, FedEx, Campbell, National Semiconductor, Talbots ...

Pep Boys tops estimates by a penny in the second quarter, comps decline

The Pep Boys -- Manny, Moe & Jack (NYSE: PBY) issued Q2 earnings on Tuesday after the bell. The aftermarket service business for automobiles, whose related companies include AutoZone (NYSE: AZO) and AutoNation (NYSE: AN), said net sales fell about 2%, and earnings per share increased 50% to 15 cents. The earnings growth was actually better than that since there were a couple of items in the previous year's quarter that benefited the bottom line.

According to Reuters, the expectation was for 14 cents per share in net income. Yep, we got the beat-by-a-penny cliche in full effect here. Management credited cost containment and service sales as drivers for the quarter.

Continue reading Pep Boys tops estimates by a penny in the second quarter, comps decline

Earnings highlights: Del Monte, Men's Wearhouse, National Semiconductor, Talbots ...

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

Continue reading Earnings highlights: Del Monte, Men's Wearhouse, National Semiconductor, Talbots ...

Movado, Navistar, Oxford and Pep Boys shares rise on Tuesday earnings reports

Shares of the following companies surged after they posted quarterly results on Tuesday.

Watchmaker Movado Group Inc. (NYSE: MOV) reported a smaller-than-expected Q1 loss as cost cutting offset weak sales due to the continued pullback by consumers of discretionary spending. Movado also surprised with a profit forecast for FY 2010. Shares rose 26.4% to close at $10.24.

Navistar International Corp. (NYSE: NAV) Q2 earnings and revenue fell short of analysts' estimates as the recession dampened demand for commercial vehicles. Navistar also slashed its forecast for the full year, and said it plans to cut costs by shifting production from Canada to Mexico. Yet shares rose 5.6% to close at $45.46.

Continue reading Movado, Navistar, Oxford and Pep Boys shares rise on Tuesday earnings reports

The week in preview: Chicken soup (or a doughnut) for the recession-weary soul?

In last week's preview we took a peek at expectations for Campbell Soup earnings, but now the company is scheduled to report fiscal fourth quarter results this coming Thursday. With Krispy Kreme also among the handful of companies scheduled to report this week, we may yet see whether consumers are turning to comfort foods in these uncertain times.

Campbell Soup Co. (NYSE: CPB), the world's biggest soup maker, is still expected by analysts surveyed by Thomson Financial to post net income of 25 cents per share (up 44.0% from a year ago) on revenue of $1.7 billion (up 7.4%). The Camden, N.J.-based company has just missed earnings estimates in the past few quarters. Its long-term EPS growth forecast is 7.9%, which is less than the industry average, but about the same as rivals Kraft Foods (NYSE: KFT) and HJ Heinz (NYSE: HNZ). The analysts' consensus recommendation is currently to buy Campbell.

Hip, Canadian apparel retailer Lululemon Athletica Inc. (NASDAQ: LULU) is also anticipated to be a big earnings gainer when it reports this week. Net income is expected to come in at 13 cents per share (up 46.2% from a year ago) on revenue of $88.2 million (up 50.3%). Lululemon met expectations when it reported 12 cents per share in the previous quarter. Its long-term EPS growth forecast is a healthy 40.2%, which is better than the industry average and that of rival Under Armour Inc. (NYSE: UA). The analysts' consensus recommendation is currently to buy Lululemon.

Continue reading The week in preview: Chicken soup (or a doughnut) for the recession-weary soul?

Earnings highlights: Lehman, UBS, Krispy Kreme, Pepsico, Pep Boys and others

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

Continue reading Earnings highlights: Lehman, UBS, Krispy Kreme, Pepsico, Pep Boys and others

Pep Boys and Quality Systems report boosts in quarterly earnings

On Tuesday, retail auto parts and repair chain Pep Boys Manny, Moe & Jack (NYSE: PBY) reported that its fiscal first-quarter profit jumped on a gain from selling properties and then leasing them back. Meanwhile, Quality Systems Inc. (NASDAQ: QSII), a provider of software for medical and dental group practices, said its net income for the fiscal fourth quarter surged on strong maintenance revenue growth.

Philadelphia-based Pep Boys first-quarter net income rose 47% from a year ago to $4.7 million, or 9 cents per share, which included a $5.5 million net gain related to the sale-leaseback transactions.

For the quarter ended May 3, revenue fell 8% to $498 million, and same-store sales fell 5.6%.

Analysts polled by Thomson Financial, on average, had predicted a loss of 3 cents per share, on revenue of $497.2 million.

Shares rose 89 cents Tuesday, or 10.2%, to $9.62, then rose another 3 cents in after-hours trading. Shares are down 16.2% year to date.

Continue reading Pep Boys and Quality Systems report boosts in quarterly earnings

The Week in Preview: Mixed bag

At best it was a week that was difficult; at worst it was a very concerning sign about what is to come. We have finally seen a significant drop in the overall sentiment due to extraordinarily high oil prices mixed with an unemployment level at 5.5%. The mixture of these and other troubling economic projections has finally come to cause investors to pause and realize that this is no place to be accepting risk beyond what is absolutely necessary.

This week will show a significant amount of reservation by investors not accepting of any shortfalls on earnings or even outlooks that are not significantly rosy. The current picture and the economic outlook was the focus of The Disciplined Investor Podcast this week, with help from money manager and economist, Michael "Mish" Sheldock.

Monday, June 9

Shuffle Master Inc. (NASDAQ: SHFL) will be reporting earnings that are expected to be $.07 per share. This has continued to be a difficult market for them even as casino construction has been rising around the world and the use of many of the products of this company are beneficial to the net profits of their customers. The stock has suffered dramatically over the past 12 months and, unless there is a product shift or new technology announced, there should be no reason that we see a catalyst for growth. Look for revenues of $45.55 million.

Ashworth Inc. (NASDAQ: ASHW) is a high-brow retailer that is expected to show a significant turn toward the negative this quarter. First Call estimates are looking for a negative $.06 per share while a year ago they were earning $.03 per share. Once again, there doesn't seem to be any reason why this company should see a beneficial upside unless investors are willing to short cover at this point. Even if that is the case, that will probably end up being temporary anyway.

Continue reading The Week in Preview: Mixed bag

Earnings highlights: Toll Bros., National Semiconductor, Dr Pepper, Guess and others

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

See also: Earnings highlights: Wal-Mart, Lehman Bros., Take-Two, Ciena, Trina Solar and others

Also, continued real estate losses are expected to hurt the quarterly reports of banks such as like Wachovia (NYSE: WB), Wells Fargo (NYSE: WFC), and National City (NYSE: NCC). And Steven Mallas wonders why Playboy (NYSE: PLA) shares have tanked since its last earnings report.

Upcoming results to watch for include Krispy Kreme (NYSE: KKD), Pall Corp. (NYSE: PLL), Pep Boys (NYSE: PBY), Korn Ferry (NYSE: KFY), and Casey's General Stores (NASDAQ: CASY).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: Wal-Mart, Lehman Bros., Take-Two, Ciena, Trina Solar and others

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

See also: Earnings highlights: Toll Bros., National Semiconductor, Dr Pepper, Guess and others

Also, continued real estate losses are expected to hurt the quarterly reports of banks such as like Wachovia (NYSE: WB), Wells Fargo (NYSE: WFC), and National City (NYSE: NCC). And Steven Mallas wonders why Playboy (NYSE: PLA) shares have tanked since its last earnings report.

Upcoming results to watch for include Krispy Kreme (NYSE: KKD), Pall Corp. (NYSE: PLL), Pep Boys (NYSE: PBY), Korn Ferry (NYSE: KFY), and Casey's General Stores (NASDAQ: CASY).

Visit AOL Money & Finance for more earnings coverage.

Analyst upgrades: POT, CSG and ZRAN

MOST NOTEWORTHY: Potash, Cadbury Schweppes and Zoran were today's noteworthy upgrades:
  • Citigroup upgraded shares of Potash (NYSE: POT) to Buy from Hold and raised its target to $178 from $141 to reflect their expectation for a more bullish outcome from the ongoing China Potash contract negotiations.
  • Cadbury Schweppes (NYSE: CSG) was raised to Overweight from Neutral at JP Morgan to reflect the company's takeout potential and cash returns.
  • Oppenheimer raised its rating on Zoran (NASDAQ: ZRAN) to Outperform from Perform on valuation, as they believe the recent weakness is overdone.
OTHER UPGRADES:
  • Pep Boys (NYSE: PBY) was upgraded to Market Weight from Underweight at Thomas Weisel.
  • JMP Securities upgraded Actuate (NASDAQ: ACTU) to Strong Buy from Outperform.
  • Goldman raised Broadcom (NASDAQ: BRCM) to Buy from Neutral.

Analyst upgrades: SI, SPIL and PALM

MOST NOTEWORTHY: Siemens , Siliconware Precision and Palm were today's noteworthy upgrades:
  • Goldman upgraded Siemens AG (NYSE: SI) to Buy from Neutral and views shares as defensive in the current environment.
  • Merriman upgraded shares of Siliconware Precision (NASDAQ: SPIL) to Buy from Neutral on valuation, as they believe the negative sentiment regarding the U.S. economy is already priced into shares.
  • JP Morgan upgraded Palm (NASDAQ: PALM) to Overweight from Underweight citing new smart-phone products expected in 2008 and stronger-than-expected Centro sales.
OTHER UPGRADES:
  • Pep Boys (NYSE: PBY) was raised to Neutral from Underperform at Credit Suisse.
  • Jefferies upgraded Pioneer Drilling (NYSE: PDC) to Buy from Hold.
  • Deutsche Bank upgraded Cablevision (NYSE: CVC) to Buy from Hold.

Analyst upgrades: DPL, IACI, FFIV, CYH and PMTC

MOST NOTEWORTHY: DPL Inc, IAC/InterActiveCorp, F5 Networks, Community Health and Parametric Technology were today's noteworthy upgrades:
  • Baird upgraded DPL Inc (NYSE: DPL) to Outperform from Neutral following better-than-expected guidance.
  • Citigroup upgraded IAC/InterActiveCorp (NASDAQ: IACI) to Buy from Hold as they believe HSN's turnaround, Lending Tree's stabilization and Ask's profitability ramp should drive EBITDA growth acceleration in 2008. The company was also upgraded to Overweight from Equal Weight at Lehman following IAC's better-than-expected Q3 report.
  • Citigroup upgraded shares of F5 Networks Inc (NASDAQ: FFIV) to Buy from Hold, as they believe now is the time to buy the stock with sentiment at a low-point heading into an attractive 2008 product cycle.
  • Stifel raised its rating on Community Health Systems Inc (NYSE: CYH) to Buy from Hold based on improved visibility from detailed 2008 guidance.
  • Kaufman upgraded Parametric Technology Corporation (NASDAQ: PMTC) to Buy from Hold based on an impressive quarter and favorable industry trends.
OTHER UPGRADES:

Newspaper wrap-up: Carl Icahn expected to join WCI board

MAJOR PAPERS:
  • Chrysler LLC is discussing shuttering or selling Mopar, its auto parts unit, and Chrysler Transport, the overseer of supplies to Chrysler's plants, reported the Wall Street Journal (subscription required).
  • Tomorrow, troubled condo developer WCI Communities Inc (NYSE: WCI) is expected to vote Carl Icahn and two of his representatives to the company's board, reported the Wall Street Journal.
  • Barron's Online's (subscription required) "Inside Scoop" column reported that Pep Boys (NYSE: PBY) director James Mitarotonda, a director since August 2006, purchased over $1.2M in stock through his equity fund Barington Companies Equity Partners on Aug. 23 and 24 according to SEC data.
  • The sale of a 20% strategic stake in Semiconductor Manufacturing International Corporation (NYSE: SMI), China's biggest chipmaker, has stalled, as the company's board is reportedly undecided about how to proceed, reported the Financial Times (subscription required).
OTHER PAPERS:
  • Nasdaq Stock Market Inc (NASDAQ: NDAQ) has agreed to seek the approval of London Stock Exchange CEO Clara Furse before it sells its minority stake in the British exchange to any single buyer, reported the Independent.

Analyst downgrades 11-13-06: UBS downgrades SanDisk to Neutral

MOST NOTEWORTHY: SanDisk (SNDK), Business Objects (BOBJ) and the Beverage Sector top today's list of downgrades.

  • SanDisk Corp. (NASDAQ:SNDK) was downgraded to Neutral from Buy at UBS, citing expectations for an oversupply of flash memory in 2006 and 2007.
  • Business Objects (NASDAQ:BOBJ) was downgraded to Sector Perform from Outperform at Pacific Crest, citing valuation concerns and increasing competition from Oracle (ORCL), Microsoft (MSFT) and open source competitors.
  • The Beverage Sector was downgraded to Cautious from Neutral at Goldman Sachs. The firm cited declining demand in core categories, raw material inflation and valuation.
    • Goldman downgraded PepsiAmericas, Inc. (NYSE:PAS) and Coca-Cola Enterprises, Inc. (NYSE:CCE) to Sell from Neutral
    • while COTT Corp (NYSE:COT) was added to their Conviction Sell List.

OTHER DOWNGRADES:

  • Kevin Dann & Partners downgraded shares of Pep Boys (NYSE:PBY) to Hold from Buy on valuation and the lack of near-term catalysts.
  • Thomas Weisel downgraded Ikanos Comm (NASDAQ:IKAN) to Peer Perform from Outperform citing a slowdown of VDSL deployments in Japan due to persisting inventory build at NTT.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 08:37 AM

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