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Canadian Solar soars to new annual high on earnings beat

Canadian Solar Inc. (CSIQ) tagged a new 52-week peak Tuesday morning in the wake of its latest earnings report. The solar company announced that it raked in a third-quarter profit of $25.3 million, or 69 cents per share, while revenue dipped 16% to $213.1 million. The results handily exceeded analysts' consensus expectations for a profit of 54 cents per share on $210.9 million in revenue.

Shipments for the recently concluded quarter more than doubled on a sequential basis, arriving at 102.6 megawatts (MW). For 2010, Canadian Solar said it expects shipments to range between 600 MW and 700 MW, compared to the current 2009 forecast for shipments of 295 MW to 305 MW.

Continue reading Canadian Solar soars to new annual high on earnings beat

Yingli Green Energy bounces higher on solid 3Q earnings

Yingli Green Energy (YGE) traded sharply higher Friday in the wake of its third-quarter results. The solar issue reported that its quarterly earnings contracted 18% to $17.7 million, or 12 cents per American depositary share (ADS). Excluding items, such as stock compensation, earnings weighed in at 18 cents per ADS. Revenue for the period edged 0.7% higher to arrive at $325.9 million.

Ahead of the report, analysts were looking for a profit of 16 cents per ADS on $331 million in revenue. Despite the revenue miss, YGE surged into the black right out of the gate. In addition to the stronger-than-expected profit number, traders were no doubt enthused by an 80% jump in shipments from second-quarter levels.

Continue reading Yingli Green Energy bounces higher on solid 3Q earnings

Boston Beer blows away 3Q expectations, hikes 2009 forecast

Shares of The Boston Beer Company (NYSE: SAM) surged to a new 52-week high Friday morning, after the brewmaster reported a third-quarter profit of $10.4 million, or 72 cents per share, on revenue of $108.7 million. The company swung to a loss of 2 cents per share in the third quarter of 2008, but attributed its turnaround to strong shipments and decreased advertising expenses.

The results were better than analysts expected, with consensus estimates calling for Boston Beer to bank a profit of 39 cents per share on $107.5 million. Looking forward, Boston Beer now expects full-year earnings of $1.75 per share to $2.05 per share, a marked increased from its prior forecast for a 2009 profit of $1.40 per share to $1.70 per share.

Continue reading Boston Beer blows away 3Q expectations, hikes 2009 forecast

Lumber Liquidators rises, then falls, after solid 3Q report

Traders initially seemed thrilled with Wednesday's third-quarter earnings report from Lumber Liquidators (NYSE: LL), but the stock then backpedaled into the red. The retailer banked a quarterly profit of $7.8 million, or 28 cents per share, up from its year-ago net income of $5.5 million, or 20 cents per share. Revenue for the period surged 14% to $140.5 million. The results comfortably outpaced analysts' consensus estimates, which called for a profit of 24 cents per share on $137.1 million in revenue.

Looking ahead, Lumber Liquidators is forecasting full-year revenue of $535 million to $543 million, up from its previous guidance of $528 million to $538 million. Earnings for fiscal 2009 are expected to range between 90 cents and 95 cents per share, compared to the retailer's previous forecast of 85 cents to 91 cents per share. Wall Street, on average, is expecting full-year earnings of 90 cents per share on $537.1 million.

Continue reading Lumber Liquidators rises, then falls, after solid 3Q report

Hartford Financial: Volatility high ahead of Q3 report

Hartford Financial Services (NYSE: HIG) is scheduled to step into the earnings spotlight right after Tuesday's closing bell, with the insurance issue releasing its final third-quarter figures. Analysts are expecting Hartford to report a profit of $1.11 per share, according to Thomson Reuters, representing a dramatic reversal from its year-ago loss of $1.40 per share.

Hartford has a mixed history on the earnings front, with the company exceeding consensus expectations in two of the previous four reporting periods -- and falling short of Wall Street's predictions during the other two quarters. On the plus side, sector peer Lincoln National (NYSE: LNC) recently released a stronger-than-expected third-quarter report, which could bode well for Hartford.

Continue reading Hartford Financial: Volatility high ahead of Q3 report

Geron Corp. spikes on narrower-than-forecast 3Q loss

Geron Corp. (NASDAQ: GERN) surged right out of the gate Friday morning, as traders cheered the stem cell stock's narrower-than-expected quarterly loss. After Thursday's close, Geron reported a third-quarter loss of $15.2 million, or 17 cents per share, while revenue arrived at $494,000.

Operating expenses for the quarter fell on a year-over-year basis from $18.3 million to $16.9 million, while research and development costs dwindled from $14.2 million to $13.4 million.

Continue reading Geron Corp. spikes on narrower-than-forecast 3Q loss

Domino's Pizza drops, despite 3Q profit surprise

The shares of Domino's Pizza (NYSE: DPZ) gapped sharply lower this morning, despite a stronger-than-expected third-quarter profit. Ahead of the bell, Domino's reported net income of $17.8 million, or 31 cents per share, for the quarter ended Sept. 6. Excluding a $14.3 million pretax gain, Domino's profit of 17 cents per share was two cents better than analysts expected.

However, revenue for the period tumbled 6.5% to $302.7 million, falling well short of consensus estimates for $308.9 million. Same-restaurant sales were flat in the U.S., although they were up 2.7% internationally. With top-line results softer than expected, the pizza chain cited lower interest expense and tighter cost controls for the robust bottom-line results.

Continue reading Domino's Pizza drops, despite 3Q profit surprise

Earnings preview: Shorts seem nervous ahead of PepsiCo's 3Q

Snacks-and-soda stalwart PepsiCo, Inc. (NYSE: PEP) is scheduled to unveil its third-quarter results before the market opens this Thursday, Oct. 8. Heading into the report, analysts are expecting PEP to bank a profit of $1.02 per share, according to Thomson Reuters, fractionally lower than its year-ago earnings of $1.06 per share.

PepsiCo has a healthy history in the earnings spotlight, having exceeded Wall Street's consensus expectations in each of the previous three quarters. Judging by recent option activity, traders are speculating on another upside surprise from the Frito-Lay firm.

Continue reading Earnings preview: Shorts seem nervous ahead of PepsiCo's 3Q

Earnings preview: Can Discover Financial Services beat again in 3Q?

Discover Financial Services (NYSE: DFS) is preparing for its upcoming turn in the earnings spotlight. The firm is scheduled to unveil its fiscal third-quarter results before the market opens Thursday, Sept. 17.

Ahead of the event, analysts surveyed by Thomson Reuters are expecting Discover to swallow a loss of about 12 cents per share, down sharply from its year-ago profit of 37 cents per share. Sales for the period are expected to arrive at $743 million.

Continue reading Earnings preview: Can Discover Financial Services beat again in 3Q?

Investors cheer the newer, 'leaner' Starbucks

A report today in The Wall Street Journal (subscription required) says that Starbucks Corp. (NASDAQ: SBUX) is delving into the "lean" manufacturing techniques employed by the likes of Toyota Motor Corp. (NYSE: TM). Scott Heydon has been named the coffee company's new "vice president of lean thinking," and he's visiting Starbucks joints around the country to help eliminate wasteful movements by the chain's baristas.

Yes, that's right. Under Heydon's aegis, baristas are encouraged to economize their motions to maximize how quickly they can whip up one of the chain's signature drinks. "Motion and work are two different things," he explained to the Journal. "Thirty percent of the partners' time is motion; the walking, reaching, bending." If the process can be streamlined to include less motion, therefore, Starbucks could theoretically churn out more coffee confections in less time, and possibly with fewer workers.

Continue reading Investors cheer the newer, 'leaner' Starbucks

Greenbrier posts tiny, unexpected 3Q profit, slams GE

The Greenbrier Companies (NYSE: GBX) stepped into the earnings spotlight this morning, with the rail-car maker reporting a fiscal third-quarter loss of $50.5 million, or $3 per share. The company chalked up its widened quarterly loss to $55.7 million in goodwill write-downs, as well as waning demand. Excluding that write-down, earnings would have arrived at three cents per share. Revenue for the period tumbled 36% to $244 million. Analysts were looking for a loss of five cents per share on $269 million in revenue.

GBX also announced that 550 additional workers will be furloughed as a result of continuing weakness in the economy and an uncertain outlook for the future. Greenbrier is pointing the finger at General Electric Company (NYSE: GE) for that cloudy forecast, claiming that the conglomerate is in breach of contract. "This limited visibility is exacerbated by GE's unilateral actions and the uncertainties surrounding our multiyear contract with them," stated CEO William Furman.

Continue reading Greenbrier posts tiny, unexpected 3Q profit, slams GE

Monsanto tops 3Q profit estimates, warns on Roundup earnings

Monsanto Co. (NYSE: MON) pleasantly surprised the Street with a stronger-than-expected third-quarter profit. This morning, the company reported quarterly net income of $694 million, or $1.25 per share, besting analysts' expectations for a profit of $1.18 per share. Net sales arrived at $3.2 billion, down 11% from the year-ago period.

Additionally, Monsanto said it will create a separate division for its herbicides business, in order to "better align spending and working capital needs." The firm will also undergo a restructuring that will result in 900 lost jobs, or less than 4% of its global workforce. The change will translate to a fourth-quarter charge of roughly $350 million, or 41 cents to 47 cents per share.

Continue reading Monsanto tops 3Q profit estimates, warns on Roundup earnings

Quarterly profit plummets 98% at Archer Daniels Midland

Agricultural issue Archer Daniels Midland Company (NYSE: ADM) is sharply lower in today's trading after falling short of Wall Street's earnings expectations. The company confessed to a 98% slide in third-quarter net income, thanks to hefty investment losses and a weak pricing environment.

ADM reported a profit of $8 million, or 1 penny per share, compared to its year-ago results of $517 million, or 80 cents per share. Investment losses for the period totaled 36 cents per share. Revenue for the quarter tumbled 21% to $14.8 billion, impacted by strength in the U.S. dollar and softer commodity prices. As a result, gross margin contracted from 6.2% to 4.4%.

Continue reading Quarterly profit plummets 98% at Archer Daniels Midland

Symbol Lookup
IndexesChangePrice
DJIA-17.2410,433.71
NASDAQ-6.832,169.18
S&P 500-0.591,105.65

Last updated: November 25, 2009: 06:14 AM

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