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The "Street" has NWL coming in at .64 for the quarter that should be reported on or about October 30, 2015! All post's welcome! The "Good Dr's In"!
Stanley Black & Decker's Q2 Earnings Beat, Outlook Raised - Analyst Blog
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Zacks
By Zacks Equity Research
July 30, 2015 11:48 AM
Industrial tool maker Stanley Black & Decker SWK reported better than-expected results for second-quarter 2015. The company’s earnings from continuing operations of $1.54 per share exceeded the Zacks Consensus Estimate of $1.53. Also, the bottom line came 10.8% above the year-ago tally of $1.39.
The "Street" has TTC coming in at .92 for the 2nd quarter that should be reported on or about August 20, 2015!
All post's welcome!
The "Good Dr's In"!
The "Street" has AZZ coming in at .73 for the 2nd quarter that should be reported on or about September 29, 2015!
All post's welcome!
The "Good Dr's In"!
8:34 am Clorox beats by $0.07, beats on revs; guides FY16 EPS below consensus, revs below consensusBriefing.com(Mon, Aug 3)
7:10 am WisdomTree beats by $0.01, reports revs in-line (WETF) : Reports Q2 (Jun) earnings of $0.18 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.17; revenues rose 85.0% year/year to $81.6 mln vs the $81.42 mln consensus.
•Total revenues increased 84.8% from the second quarter of 2014 and 35.6% compared to the first quarter of 2015 to a record $81.6 million primarily due to higher average AUM from strong inflows.
•Gross margin for our U.S. listed ETFs, which is our total revenues less fund management and administration expenses and third party sharing arrangements, was 86.4% in the second quarter of 2015 as compared to 82.4% in the second quarter of 2014 and 83.2% in the first quarter of 2015. The increase was primarily due to higher average AUM.
7:10 am WisdomTree beats by $0.01, reports revs in-line (WETF) : Reports Q2 (Jun) earnings of $0.18 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.17; revenues rose 85.0% year/year to $81.6 mln vs the $81.42 mln consensus.
•Total revenues increased 84.8% from the second quarter of 2014 and 35.6% compared to the first quarter of 2015 to a record $81.6 million primarily due to higher average AUM from strong inflows.
•Gross margin for our U.S. listed ETFs, which is our total revenues less fund management and administration expenses and third party sharing arrangements, was 86.4% in the second quarter of 2015 as compared to 82.4% in the second quarter of 2014 and 83.2% in the first quarter of 2015. The increase was primarily due to higher average AUM.
6:36 am Newell Rubbermaid beats by $0.02, beats on revs; guides FY15 EPS in-line (NWL) : Reports Q2 (Jun) earnings of $0.64 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.62; revenues rose 4.0% year/year to $1.56 bln vs the $1.54 bln consensus.
•Co raises guidance for FY15, sees EPS of $2.14-2.20 vs. $2.16 Capital IQ Consensus Estimate, up from prior guidance of $2.10-2.18. Raises core sales growth guidance to 4.0-5.0% from 3.5-4.5%.
•"Core sales grew in all five of our segments and in all four geographic regions. Our Win Bigger businesses grew 6.5 percent, led by our global Writing business which grew core sales over ten percent. Momentum continued to build in our Baby & Parenting business, which also had a strong quarter with core growth of 6.0 percent. We are driving accelerated growth and earnings performance as a result of strengthened innovation, increased investment in brands, aggressive cost programs and excellent commercial execution."
4:11 pm Wynn Resorts misses by $0.23, misses on revs (WYNN) : Reports Q2 (Jun) earnings of $0.74 per share, $0.23 worse than the Capital IQ Consensus Estimate of $0.97; revenues fell 26.3% year/year to $1.04 bln vs the $1.07 bln consensus. The decline was the result of a 35.8% net revenue decrease from our Macau Operations and a 6.2% decrease in net revenues from our Las Vegas Operations.
The "Street" has WETF coming in at .17 for the quarter that should be reported on or about July 31, 2015! All post's welcome! The "Good Dr's In"!
The "Street" has AAPL coming in at 1.97 for the quarter that should be reported on or about July 21, 2015! All post's welcome! The "Good Dr's In"!
4:17 pm Netflix beats by $0.02, reports revs in-line (NFLX) : Reports Q2 (Jun) earnings of $0.06 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.04; revenues rose 22.8% year/year to $1.65 bln vs the $1.65 bln consensus.
8:06 am AZZ beats by $0.07, reports revs in-line; raises FY16 guidance on US Galvanizing acquisition (AZZ) :
Reports Q1 (May) earnings of $0.77 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.70; revenues rose 5.9% year/year to $228.9 mln vs the $228.59 mln consensus.
Earnings for the first quarter of fiscal 2016 were positively impacted by an improved gross margin of 25.9% compared to 25.6% in the first quarter of fiscal 2015, despite the challenging comparison year over year from insurance proceeds related to business interruption settlements.
Co issues guidance for FY16, raises EPS to $2.85-3.30 from $2.75-3.25 vs. $2.94 Capital IQ Consensus; raises FY16 revs to $900-940 mln from $875-925 mln vs. $910.90 mln Capital IQ Consensus. This is a direct result of our acquisition of U.S. Galvanizing and our expectation that it will provide accretion of ~ $0.10 in EPS for fiscal year 2016."
7:14 am Colgate-Palmolive reports EPS in-line, revs in-line; sees low-single-digit earnings per share decline on a dollar basis,
7:14 am Colgate-Palmolive reports EPS in-line, revs in-line; sees low-single-digit earnings per share decline on a dollar basis,
6:50 am Newell Rubbermaid beats by $0.02, reports revs in-line; reaffirms FY15 EPS guidance, revs guidance (NWL) : Reports Q1 (Mar) earnings of $0.36 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.34; revenues rose 4.1% year/year to $1.26 bln vs the $1.27 bln consensus.
•Co reaffirms guidance for FY15, sees EPS of $2.10-2.18 vs. $2.15 Capital IQ Consensus Estimate; sees FY15 revs of +3.5-4.5% to ~$5.93-5.98 bln vs. $5.93 bln Capital IQ Consensus Estimate.
•Normalized gross margin was 38.8 percent, a 50 basis point improvement versus prior year, as benefits from productivity, commodity deflation and pricing more than offset the negative impacts of foreign currency and mix from acquisitions.
Apple beats Street 2Q forecasts
Apple tops 2Q net income and revenue expectations
CUPERTINO, Calif. (AP) _ Apple Inc. (AAPL) on Monday reported fiscal second-quarter profit of $13.57 billion.
The Cupertino, California-based company said it had profit of $2.33 per share.
The results exceeded Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The maker of iPhones, iPads and other products posted revenue of $58.01 billion in the period, which also topped Street forecasts. Fifteen analysts surveyed by Zacks expected $56.6 billion.
For the current quarter ending in June, Apple said it expects revenue in the range of $46 billion to $48 billion. Analysts surveyed by Zacks had expected revenue of $46.93 billion.
Apple shares have climbed 20 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 percent. In the final minutes of trading on Monday, shares hit $132.65, an increase of 62 percent in the last 12 months. Less
Sentiment: Strong Buy
6:23 am Stanley Black & Decker beats by $0.12, beats on revs; reaffirms FY15 EPS guidance (SWK) : Reports Q1 (Mar) earnings of $1.07 per share, $0.12 better than the Capital IQ Consensus Estimate of $0.95; revenues rose 0.5% year/year to $2.63 bln vs the $2.6 bln consensus, positive volume (+7%) and price (+1%) were substantially offset by currency (-7%).
Co reaffirms guidance for FY15, sees EPS of $5.65-5.85 vs. $5.75 Capital IQ Consensus. Despite $60 to $70 million ($0.30 to $0.35 per share) in new, incremental foreign currency om pressure year over year currency-related eps headwinds included in full year guidance now total $1.00 to $1.10 (19% to 20% of prior year eps) 2015 free cash flow still expected to be at least $1.0 billion.
The "Street" has SWK coming in at 1.02 for the quarter that should be reported on or about April 23, 2015! All post's welcome! The "Good Dr's In"!
8:04 am AZZ beats by $0.04, misses on revs; guides FY16 EPS in-line, revs in-line (AZZ) : Reports Q4 (Feb) earnings of $0.63 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.59; revenues rose 0.7% year/year to $182.3 mln vs the $187.41 mln consensus. Co issues in-line guidance for FY16, sees EPS of $2.75-3.25 vs. $2.97 Capital IQ Consensus Estimate; sees FY16 revs of $875-925 mln vs. $889.95 mln Capital IQ Consensus Estimate.
Industry Comments
"As I noted on the last call, our markets remained mixed during the fourth quarter and our Galvanizing and Energy businesses were impacted by severe weather conditions resulting in delays. Within the Energy segment, WSI was impacted by the refinery strikes that slightly reduced the amount of work completed during available turnarounds. We are seeing improvements in our quoting activity within our Energy business segment, resulting in improved backlog and we anticipate further improvements in our core markets during fiscal 2016. Although we are seeing a slight impact on a couple of our businesses due to lower oil prices and reduced rig count, we continue to see a number of opportunities for growth in most of our businesses".
4:10 pm Yahoo! misses by $0.03, misses on revs (YHOO) : Reports Q1 (Mar) earnings of $0.15 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.18; revenues fell 4.0% year/year to $1.04 bln vs the $1.05 bln consensus.
•"This quarter, we saw encouraging revenue growth of 8%, with display revenue growing a modest 2% and search growing 20% on a GAAP basis. Our mobile GAAP revenue reached $234 million in Q1, growing 61% year-over-year."
•Yahoo repurchased ~4 million shares of its common stock for $204 million and satisfied the $3.3 billion income tax liability related to the sale of Alibaba Group ADSs in 2014.
•Cash, cash equivalents, and marketable securities were $6.9 billion as of March 31, 2015
The "Street" has KKR coming in at .62 for the quarter that should be reported on or about April 23, 2015! All post's welcome! The "Good Dr's In"!
The "Street" has WETF coming in at .11 for the quarter that should be reported on or about April 30, 2015! All post's welcome! The "Good Dr's In"!
The "Street" has AZZ coming in at .61 for the quarter that should be reported on or about March 02, 2015!
All post's welcome!
The "Good Dr's In"!
7:02 am Newell Rubbermaid reaffirms 2015 EPS in line with consensus (NWL) :
•Core sales growth 3.5% to 4.5%, Capital IQ consensus is 3.8%.
• Currency impact (4.0%) to (5.0%)
• Impact of acquisitions 3.5% to 4.5%
• Net sales growth 3.0% to 4.0%
• Normalized EPS $2.10 to $2.18, Capital IQ consensus $2.15
• The 2015 normalized EPS guidance range excludes between $80 and $120 million of Project Renewal restructuring and restructuring-related charges and other project costs.
The "Street" has CLX coming in at .91 for the quarter that should be reported on or about January, 29 2015! All post's welcome! The "Good Dr's In"!
The "Street" has LAD coming in at 1.26 for the quarter that should be reported on or about February 21, 2015! All post's welcome! The "Good Dr's In"!
4:37 pm Apple beats on the top & bottom line led by iPhones well ahead of estimates; tops Q1 gross margin guidance; guides Q2 revs in-line with estimates (AAPL) : Reports Q1 (Dec) earnings of $3.06 per share, $0.46 better than the Capital IQ Consensus Estimate of $2.60; revenues rose 29.5% year/year to $74.6 bln vs the $67.53 bln consensus with gross margins of 39.9% vs 38.4% est (Guidance of 37.5-38.5%)
•Co issues in-line guidance for Q2, sees Q2 revs of $52.0-55.0 bln vs. $53.75 bln Capital IQ Consensus Estimate; sees Q2 gross margins of 38.5-39.5% vs 38.7% ests.
•International sales accounted for 65% of the quarter's revenue.
•Q1 iPhones 74.5 mln vs 66.8 mln ests 51 mln last year
•Q1 iPads 21.4 mln vs 21.8 mln ests vs 26 mln last year.
•Q1 Macs 5.5 mln vs 5.5 mln ests vs 4.8 mln last year.
Possible AAPL suppliers that could see a reaction following earnings include: QCOM, SWKS, AVGO, INVN, NXPI, TXN, CRUS.
The "Street" has KKR coming in at .53 the quarter that should be reported on or about February 10, 2015! All post's welcome! The "Good Dr's In"!
The "Street" has DG coming in at .80 for the quarter that should be reported on or about January 08, 2015! All post's welcome! The "Good Dr's In"!
The "Street has AZZ coming in at .75 for the quarter that should be reported on or about January 08, 2015!
7:02 am WisdomTree beats by $0.01, misses on revs (WETF) : Reports Q1 (Mar) earnings of $0.12 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.11; revenues rose 46.4% year/year to $42.9 mln vs the $43.41 mln consensus. Included in the quarter were $1.3 million, or $0.01 per diluted EPS, of costs associated with our acquisition of U.K.-based ETP provider Boost and non-recurring costs for transitioning our fund accounting and administration services.
ETF assets under management ("AUM") were $33.9 billion at March 31, 2014, up 35.0% from $25.1 billion at March 31, 2013, and down 2.9% from $34.9 billion at December 31, 2013. AUM decreased from December 31, 2013 due to net outflows of $0.5 billion primarily in our emerging markets equity, currency and fixed income focused ETFs as well as in our Japan Hedged Equity ETF (DXJ). We also had negative market movement of $0.5 billion, primarily in those same funds.
6:36 am Newell Rubbermaid beats by $0.03, misses on revs; reaffirms FY14 guidance; raises quarterly dividend 13% to $0.17 (NWL) : Reports Q1 (Mar) earnings of $0.35 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.32; revenues fell 0.7% year/year to $1.23 bln vs the $1.25 bln consensus.
Core sales, which exclude the impact of changes in foreign currency, grew 0.7 percent.
Normalized gross margin was 38.8 percent, a 60 basis point improvement compared with the prior year period. Reported gross margin was 38.1 percent versus 38.2 percent in the prior year period.
"We are confident in our full year financial guidance and expect the company's core sales and earnings per share growth to accelerate through the balance of the year as we significantly increase advertising and promotion investment levels in support of our brands and innovation. Importantly, the Board of Directors has approved a 13 percent increase in our quarterly dividend to $0.17, an annualized rate of $0.68 per share. This is the fourth dividend increase in the last three years, which is a reflection of the Board's continued confidence in Newell's strong cash generation ability and in the promise of our Growth Game Plan."
The company expects the infant harness buckle discussions will be resolved in the second quarter.
Co reaffirms guidance for FY14, sees EPS of $1.94-2.00, excluding non-recurring items, vs. $1.98 Capital IQ Consensus; reaffirms cores sales +3-4%. The company now expects foreign exchange to have a negative impact on 2014 net sales of about 200 basis points and to have a negative impact on both normalized and reported EPS of $0.04 to $0.05 per diluted share for the balance of 2014. Subsequent to the first quarter, the company will begin using the exchange rate determined by periodic auctions for U.S. dollars conducted under Venezuela's SICAD I exchange mechanism (~10.5 to 11.0 Bolivars per U.S. dollar).
The "Street has AAPL coming in at 10.42 for the quarter that should be reported on or about April 23, 2014! All post's welcome! The "Good Dr's In"!
The "Street has AAPL coming in at 10.42 for the quarter that should be reported on or about April 23, 2014! All post's welcome! The "Good Dr's In"!
The "Street has CL coming in at .69 for the quarter that should be reported on or about April 25, 2014! All post's welcome! The "Good Dr's In"!
The "Street has NWL coming in at .3336for the quarter that should be reported on or about May 2, 2014! All post's welcome! The "Good Dr's In"!
The "Street has TZOO coming in at .41 for the quarter that should be reported on or about April 17, 2014! All post's welcome! The "Good Dr's In"!
4:04 pm WD-40 misses by $0.01, beats on revs; reaffirms FY14 EPS guidance, revs guidanceBriefing.com(Wed, Apr 9)
The "Street has AZZ coming in at .45 for the quarter that should be reported on or about April 04, 2014!
All post's welcome!
The "Good Dr's In"!
4:17 pm Newell Rubbermaid to reaffirm FY14 guidance of adjusted EPS of $1.94-2.00 vs $1.99 Capital IQ Consensus Estimate, reaffirms core sales growth of 3-4% (NWL) : Co announced it will reaffirm its fiscal year 2014 outlook, as provided in its fourth quarter 2013 earnings press release dated January 31, 2014, during its presentation at RBC Capital Markets' Consumer & Retail Conference on March 13, 2014. The company will note that its first quarter results will be negatively impacted by the broad weather-driven retailer point of sale challenges in the United States and lost sales and costs associated with last month's announced recall of toddler car seats. The company expects the combined impact of these events to negatively affect the first quarter 2014 global core sales growth rate by approximately 100 to 200 basis points and normalized earnings per share by approximately 3 to 4 cents.
For the full year, the company expects to recover momentum led by its strong brand and innovation plans, extensive savings programs related to Project Renewal, and the natural rebound of point of sale in key US retailers as the seasons finally change.
As a result, the company's full year guidance remains unchanged for 2014:
Core sales growth of 3 to 4 percent
Normalized operating margin improvement of up to 40 basis points
Normalized EPS of $1.94 to $2.00 (vs $1.99 Capital IQ Consensus Estimate)
Operating cash flow between $600 and $650 million
The "Street has PHMD coming in at .16 for the quarter that should be reported on or about March 13, 2014! All post's welcome! The "Good Dr's In"!
7:33 am Martha Stewart beats by $0.10, beats on revs (MSO) : Reports Q4 (Dec) earnings of $0.12 per share, $0.10 better than the Capital IQ Consensus Estimate of $0.02; revenues fell 16.0% year/year to $47.4 mln vs the $45.4 mln consensus.
"As promised, we also took some aggressive and important steps in the last quarter of 2013 to align our cost structure with marketplace realities and more importantly to become nimbler, more efficient, generators of ideas, inspirations, content and product. We also promised to put to bed several pieces of notable and distracting litigation, and we did so." Mr. Dienst continued, "With some of the best, brightest and most passionate employees in our business lines -- all of whom have embraced our new way of chasing opportunities as One Company - we are very excited about the groundwork we will lay in 2014 for tapping our esteemed brand's fullest potential."
6:10 am Newell Rubbermaid to reaffirm FY14 guidance at the Consumer Analyst Group of New York (:CAGNY) conference (NWL) : Co reaffirms guidance for FY14 (Dec), sees EPS of $1.94-2.00, excluding non-recurring items, vs. $1.99 Capital IQ Consensus Estimate; sees FY14 (Dec) revs of (net sales +2-3% YoY) $5.81-5.86 bln vs. $5.85 bln Capital IQ Consensus Estimate.
below consensus) (NWL) : Reports Q4 (Dec) earnings of $0.47 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.46; revenues rose 3.0% year/year to $1.49 bln vs the $1.48 bln consensus.
Core sales, which exclude the impact of changes in foreign currency, grew 4.4 percent. Normalized operating margin of 12.2 percent consistent with the prior year period. Reported operating margin increased 20 basis points. Gross margin was 37.4 percent. Positive pricing and productivity were offset by input cost inflation and less favorable mix due largely to very strong sales growth in Baby & Parenting.
Co issues guidance for FY14, sees EPS of $1.94-2.00 vs. $2.00 Capital IQ Consensus Estimate; core sales +3-4%.
Wynn Macau Earnings Beat Estimates on Margin Improvement
By Vinicy Chan Jan 30, 2014 1:21 PM PT 0 Comments Email Print
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* Price chart for WYNN RESORTS LTD. Click flags for important stories.
WYNN:US201.517.64 3.94%
Wynn Macau Ltd. (1128) profit rose 32 percent in the fourth quarter as billionaire Steve Wynn’s casino operator raised margins by attracting more premium mass-market gamblers.
Adjusted property earnings before interest, taxes, depreciation and amortization, or Ebitda, rose to $374.2 million from $283.2 million a year earlier, according to a statement by parent company Wynn Resorts Ltd. (WYNN) dated Jan. 30. That surpassed the $343.3 million average of 10 analyst estimates compiled by Bloomberg. Net revenue jumped 25 percent to $1.12 billion.
Wynn Macau “gained mass market share as it converted 12 to 13 VIP gaming tables to mass in mid-October,” Karen Tang, a Hong Kong-based analyst at Deutsche Bank AG, wrote in a research note published Jan. 27.
Bigger rivals including Sands China Ltd. (1928) and Galaxy Entertainment Group Ltd. (27) have been adding shops, restaurants and entertainment shows to lure the mass and premium mass market gamblers who bet in cash and provide fatter margins because they don’t rely on junket operators to bring them to Macau.
Wynn’s premium-mass segment could grow further in 2014 after the company renovates the Wynn Hotel tower, Praveen Choudhary, a Hong Kong-based Morgan Stanley analyst, wrote in a research note dated Jan. 7.
Photographer: Lam Yik Fei/Bloomberg
Vehicles drive past the Wynn Macau casino resort, operated by Wynn Resorts Ltd., in Macau, China.
Junket Operators
Casino revenue in Macau, the only place in China where casinos are legal, jumped 19 percent to $45 billion last year, with about two-thirds of the revenue coming from high-stake bettors from mainland China whose gambling trips are arranged by junket operators.
Casino operators have to pay commission, about 1.25 percent of the total bets made by VIPs, to the junket operators who are in charge of recruiting high rollers, giving them credit to gamble, collecting debts and arranging transportation to accommodation.
Wynn Macau rose 1.4 percent to close at HK$33.15 in Hong Kong yesterday, compared with the 0.5 percent decline in the city’s benchmark Hang Seng Index. The city’s stock market will be closed today and on Feb. 3 for the Lunar New Year break.
The company is building the $4 billion Wynn Palace casino resort on the Chinese city’s Cotai Strip, the Asian equivalent of the Las Vegas Strip. The resort will feature floral sculptures the size of “floats of the Rose Bowl Parade,” Wynn earlier said. It is scheduled to open in early 2016.
To contact the reporter on this story: Vinicy Chan in Hong Kong at vchan91@bloomberg.net
To contact the editor responsible for this story: Dave McCombs at dmccombs@bloomberg.net
Wynn Resorts Earnings Beat Estimates as Macau Revenue Surges
By Christopher Palmeri Jan 30, 2014 4:44 PM PT 0 Comments Email Print
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WYNN:US201.517.64 3.94%
Wynn Resorts Ltd. (WYNN), the casino company controlled by billionaire Steve Wynn, reported fourth-quarter earnings that beat analysts’ estimates as revenue in Macau surged. The shares rose in extended trading.
Profit increased to $2.27 a share, excluding items, compared with the $1.75 average of 22 analysts’ estimates compiled by Bloomberg. Revenue gained 18 percent to $1.52 billion, the Las Vegas-based company said in a statement today. Analysts on average had projected $1.44 billion.
“Results were primarily driven by strong mass market revenues in Macau, which we view favorably, given that it is a more stable and higher-margin business,” said John Kempf, an RBC Capital Markets LLC analyst in a research note today.
Sales in Macau, Wynn Resorts’ biggest market, rose 25 percent to $1.12 billion in the quarter. Gambling industry revenue in the enclave, the only part of China where casinos are legal, increased 24 percent in the fourth quarter to $12.5 billion, according to the Gaming Inspection and Coordination Bureau there.
The company’s Las Vegas business posted a 2.4 percent gain in revenue to $400 million. It benefited from higher room rates and an increase in convention business, Wynn said on a conference call today. Results in that market in 2014 would be equal or better, he said.
‘Very Satisfying’
Net income rose to $213.9 million, or $2.10 a share, from $111.4 million, or $1.10, a year earlier.
“The numbers speak for themselves,” Wynn, 72, said. “For two hotels to have cash flow of $1.8 billion and change is very satisfying.”
Las Vegas Sands Corp., the world’s largest casino company, reported yesterday that revenue in Macau climbed 28 percent to $2.53 billion in the fourth quarter and sales in Las Vegas rose 25 percent to $385.7 million.
Wynn Resorts is building a $4 billion resort on the Cotai Strip, the Asian equivalent of the Las Vegas Strip. The resort will open in January 2016, Wynn said today. The company will complete a second phase of the project two years later that could bring total spending there to $9 billion, he said.
It will add another 1,500 hotel rooms, all of which will be suites with massage rooms and 80-inch television sets, Wynn said.
Wynn Resorts’ shares climbed as much as 5.2 percent to $211.98 in extended trading. They closed up 3.9 percent to $201.51 in New York. The stock has gained 63 percent in the past 12 months compared with 19 percent for the Standard & Poor’s 500 Index.
To contact the reporter on this story: Christopher Palmeri in Los Angeles at cpalmeri1@bloomberg.net
The "Street has WYNN coming in at 1.76 for the 4th quarter that should be reported on or about January 30, 2014! All post's welcome! The "Good Dr's In"!
Another Netflix Inc.NFLX +1.53% quarterly report, another big stock move.
Shares spiked Wednesday after the bell after Netflix reported quarterly results that exceeded analysts’ expectations, upbeat subscriber figures and an optimistic outlook.
The stock jumped 18% to $392 in after-hours trading. If the gains hold, Netflix is poised to open Thursday at a fresh record high.
Netflix reported a fourth-quarter profit of $48.4 million, or 79 cents a share, up from $7.9 million, or 13 cents a share, in the year earlier period. Revenue jumped 24% to $1.18 billion.
Analysts polled by Thomson Reuters anticipated Netflix earned 66 cents a share in the fourth quarter, on revenue of $1.17 billion.
Netflix reported 2.33 million domestic subscribers were added in the fourth quarter. Its projecting another 2.25 million U.S. streaming subscribers were added in the current quarter, which would bring its total to 34.3 million paying domestic subscribers.
Internationally, Netflix added about 1.7 million subscribers in the latest quarter, and sees 1.6 million net additions in the current quarter. It ended the fourth quarter with more than 9.7 million paid members abroad, slightly better than forecast.
The better-than-expected results and the surging stock price come after shares surged 298% last year and peaked at $389.16, making Netflix the top performer in the S&P 500 and the Nasdaq 100. Booming subscriber growth and an increase in original programming were key drivers of the stock’s move back above $300.
As we reported earlier Wednesday, Netflix’s stock historically is volatile after it reports earnings. Since 2002 when Netflix went public, its shares have had the most volatile reaction to quarterly results, on average, compared to any other stock in the S&P 1500 (a bigger index than the more widely followed S&P 500), according to data compiled by Bespoke Investment Group.
Netflix averages a 14.4% swing following its quarterly results. By comparison, stocks on average swing 5% after quarterly results are released. Stocks in the S&P 500 technology sector — which are the most volatile of the 10 large-cap sectors — average a 6.7% swing after earnings.
The "Street" has TZOO coming in at .20 for the 4th quarter that should be reported on January 23, 2014! All post's welcome! The "Good Dr's In"!
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