Earning Plays

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Thursday, Aug. 7
The9 sees earnings double on strong game revenue(6:11 pm ET)
SAN FRANCISCO (MarketWatch) -- The9 Ltd. said Thursday that earnings more than doubled during the second quarter thanks to strong revenue from its video game services. The Chinese provider of online games (NCTY: news, chart, profile) said net income was $16.9 million, or 61 cents a share, compared to net income of $7.4 million, or 28 cents a share, for the same period last year. Net revenue grew 69% to $66.3 million. Analysts were expecting earnings of 49 cents a share on revenue of $66.3 million, according to consensus estimates from FactSet Research.
Hertz profit falls 39%(5:53 pm ET)
SAN FRANCISCO (MarketWatch) -- Hertz Global Holdings, Inc. (HTZ: news, chart, profile) reported late Thursday second-quarter net income of $51.2 million, or 16 cents a share, down from $83.7 million, or 26 cents, in the year-ago quarter. Excluding one-time charges, Hertz said it earned 30 cents a share. Revenue for the three months ended June 30 rose 4.6% to $2.3 billion from $2.2 billion a year ago. Analysts polled by FactSet Research had predicted the New Jersey-based car rental company would earn 28 cents a share on $2.2 billion in sales. Shares of Hertz closed ahead of the report with a gain of 1.5% at $9.01.
Assured Guaranty quarterly net income surges to $545.2 mln(5:12 pm ET)
SAN FRANCISCO (MarketWatch) -- Assured Guaranty (AGO: news, chart, profile) said late Thursday that second-quarter net income came in at $545.2 million, or $5.97 a share, up a lot from the same period a year earlier when the bond insurer made $32.8 million, or 47 cents a share. The big increase was driven mainly by $518.3 million in after-tax unrealized gains on credit derivatives. Operating income, which excludes such gains and losses, was $38.7 million, or 42 a share, down from a year earlier. Assured was expected to make 50 cents a share, according to the average estimate of nine analysts in a Thomson Reuters survey.
Crocs second-quarter net income falls to 3 cents a share (4:23 pm ET)
SAN FRANCISCO (MarketWatch) -- Crocs Inc. (CROX: news, chart, profile) late Thursday reported its second-quarter net income fell to $2.1 million, or 3 cents a share, from $48.5 million, or 58 cents a share, in the year-earlier period. The results include 3 cents a share charges related to the impairment of certain fixed assets and a portion of the previously announced pre-tax charge associated with the shutdown of the company's Canadian manufacturing operations. Revenue decreased to $222.8 million from $224.3 million a year ago, said the company best known for its colorful sandals. Analysts surveyed by FactSet Research, on average, had forecast Crocs to earn 6 cents a share on revenue of $219.9 million. Crocs reaffirmed earnings of a penny to 5 cents a share on revenue of $195 million to $205 million in the third quarter. It also reiterated it will breakeven while its revenue will be moderately down in 2008 compared to 2007. Analysts are expecting the company to earn 3 cents a share on revenue of $209.7 million in the third quarter. In 2008, the company is projected to earn 15 cents a share on revenue of $825.7 million, according to a survey by FactSet Research.
ConEdison second-quarter net income (12:40 pm ET)
SAN FRANCISCO (MarketWatch) -- Consolidated Edison (ED: news, chart, profile) on Thursday reported its second-quarter net income rose to $552 million, or $2.02 a share, from $154 million, or 58 cents a share, in the same period last year. Excluding items, earnings were 42 cents a share. The New York-based energy company also affirmed its earnings from ongoing operations outlook of $2.95 to $3.15 a share in 2008. Analysts surveyed by FactSet Research are forecasting the company to post earnings of $3.05 a share, on average, in 2008.
CORRECT: Cardinal's per-share quarterly profit drops 61%(12:41 pm ET)
NEW YORK (MarketWatch) -- Cardinal Health (CAH: news, chart, profile) said Thursday its fourth-quarter profit totaled $327 million, or 91 cents a share, from $902 million, or $2.33 a share, in the same quarter a year before. Revenue for the quarter was $22.9 billion compared to $22.3 billion in the year-ago period. The company said it expects first-quarter non-GAAP earnings to "be around" 70 cents a share, but will "return to more normal levels in the second quarter." (Corrects to reflect that latest results are from fourth quarter.)
PMI shares fall after mortgage insurer swings to loss(10:55 am ET)
BOSTON (MarketWatch) -- Shares of mortgage insurer PMI Group Inc. (PMI: news, chart, profile) were down 18% Thursday morning after the company reported a $246.3 million second-quarter loss. The company said the loss was driven by its exposure to the troubled U.S. mortgage market, adding it was closing its operations in Canada. PMI shares have lost half their value over the past three months on worsening conditions in the mortgage and housing markets.
DirectTV earnings per share rise to 40 cents in quarter(9:19 am ET)
NEW YORK (MarketWatch) -- The DirectTV Group Inc. (DTV: news, chart, profile) said Thursday that second-quarter earnings rose to $455 million, or 40 cents a share, compared to $448 million, or 37 cents a share, in the same period a year ago. Revenue rose to $4.8 billion, compared to $4.1 billion. FactSet analysts, on average, had expected earnings per share of 39 cents on sales of $4.6 billion.
Sempra Energy raises earnings forecast despite profit drop(9:10 am ET)
NEW YORK (MarketWatch) -- Sempra Energy (SRE: news, chart, profile) said Thursday its second-quarter profit totaled $244 million, or 98 cents a share, from $277 million, or $1.05 a share, in the same quarter a year before. Analysts had expected earnings on average of 88 cents a share, according to a FactSet Research survey. Revenue for the quarter was $2.50 billion compared to $2.66 billion in the year-ago period. Despite the slide in profit and revenue, Sempra also announced an increase in its earnings forecast for 2008 to a range of $3.80 to $4.00 a share from the previous range of $3.65 to $3.85 a share.
Chico's reports same-store sales drop(8:52 am ET)
NEW YORK (MarketWatch) - Chico's FAS Inc (CHS: news, chart, profile) said Thursday that its July sales at stores open at least one year fell 18.5%. Analysts, on average, had expected same-store sales to fall 12.6% according to Thomson Reuters. Net sales for the four weeks ended Aug. 2 fell 7.3% to $112.5 million.
Fortress loss flat with year-ago level (8:48 am ET)
NEW YORK (MarketWatch) -- Fortress Investment Group (FIG: news, chart, profile) said Thursday that its second quarter loss was flat with year ago levels, at $55.6 million, or 67 cents a share, compared to a loss of $55.1 million, or 66 cents a share a year ago. Total revenue dipped to $188.1 million, $268.1 million. Pretax distributable earnings, the number analysts base their estimates on, were $58 million, or 13 cents a share, down from $143 million last year. The mean estimate of analysts polled by Thomson Reuters was 14 cents a share on revenue of $193 million. Fortress' assets under management rose 23% in the quarter, to $35.1 billion.
Nordstrom same-store sales in July fall 6.1% (8:46 am ET)
NEW YORK (MarketWatch) -- Nordstrom Inc. (JWN: news, chart, profile) said Thursday its July sales at stores open at least one year fell 6.1%. Analysts, on average, had expected the same-store sales to fall 6.2%, according to Thomson Financial. Preliminary sales for the four weeks ended Aug. 2 fell 6.7% to $840 million.
Teradata earnings per share rise to 38 cents in quarter(8:46 am ET)
NEW YORK (MarketWatch) -- Teradata Corp. (TDC: news, chart, profile) said Thursday that second-quarter earnings rose to $69 million, or 38 cents a share, compared to $49 million, or 27 cents, in the same period a year ago. Revenue was $455 million for the second quarter of 2008, a 6% increase from $430 million in last year's period. Analysts polled by FactSet, on average, had estimated earnings per share of 33 cents on sales of $456 million. Operating income was $92 million, compared to $88 million, a year ago.
Dollar Tree's second-quarter same-store sales rise 6.5%(8:46 am ET)
NEW YORK (MarketWatch) -- Dollar Tree Inc. (DLTR: news, chart, profile) said Thursday that its second-quarter sales at stores open at least one year rose 6.5%. Total sales for the quarter rose 12.5% to $1.09 billion.
Saks same-store sales for July fall 5.3%(8:41 am ET)
NEW YORK (MarketWatch) -- Saks Inc. (SKS: news, chart, profile) said Thursday its July sales at stores open at least one year fell 5.3%. Analysts, on average, had expected the same-store sales to fall 0.1%, according to Thomson Financial. Owned sales for the four weeks ended Aug. 2 fell 4.6% to $192 million.
Ross same-store sales in July rise 4%(8:38 am ET)
NEW YORK (MarketWatch) -- Ross Stores Inc. (ROST: news, chart, profile) said Thursday its July sales at stores open at least one year rose 4%. Analysts, on average, had expected the same-store sales to rise 3.6%, according to Thomson Financial. Total sales for the four weeks ended Aug. 2 rose 11% to $499 million.
Kohl's same-store sales in July fall more than 10%(8:36 am ET)
NEW YORK (MarketWatch) -- Kohl's Corp. (KSS: news, chart, profile) said Thursday its July sales at stores open at least one year fell 10.4%. Analysts, on average, had expected the same-store sales to fall 7.0%, according to Thomson Financial. Total sales for the four weeks ended Aug. 2 fell 2.4% to $1.03 billion.
Target's July same-store sales fall 1.2%(8:31 am ET)
NEW YORK (MarketWatch) -- Target Corp. (TGT: news, chart, profile) said Thursday that its July sales at stores open at least one year fell 1.2%. Analysts, on average, had expected same-store sales to fall 0.3%, according to Thomson Reuters. Net retail sales for the four weeks ended Aug. 2 rose 4.7% to $4.57 billion. Target said the same-store-sales results came in near the low end of its planned range of down 1% to up 1%.
Blockbuster reports Q2 loss(8:31 am ET)
NEW YORK (MarketWatch) -- Blockbuster Inc (BBI: news, chart, profile) said Thursday its loss for the second quarter was $41.9 million, or 23 cents a share, compared to a loss of $31.4 million, or 18 cents a share, for the second quarter of 2007. The 2007 loss was buoyed by an $81.3 million gain on asset sales. Analysts surveyed by FactSet Research estimated, on average, a loss of 20 cents a share. Adjusted net loss for the second quarter was $36.1 million, or 20 cents a share, compared to $96.5 million, or 52 cents a share, for the second quarter of 2007. Total revenues increased by 3.3%, growing $41.3 million to $1.3 billion. The company also reported a 9% increase in same-store sales for the second quarter.
American Eagle's July same-store sales fall 7%(8:22 am ET)
NEW YORK (MarketWatch) -- American Eagle Outfitters Inc. (AEO: news, chart, profile) said Thursday that its July sales at stores open at least one year fell 7%. Analysts, on average, had expected same-store sales to fall 2.5%, according to Thomson Reuters. Total sales for the four weeks ended Aug. 2 fell to $232.8 million from the year-earlier $233.9 million. The retailer also updated its second-quarter profit forecast to 28 cents a share, vs. its previous forecast of 28 to 30 cents a share.
BJ's same-store sales jump almost 17% in July(8:22 am ET)
NEW YORK (MarketWatch) -- BJ's Wholesale Club Inc. (BJ: news, chart, profile) said Thursday its July sales at stores open at least one year rose 16.7%. Analysts, on average, had expected the same-store sales to rise 12.9%, according to Thomson Financial. Total/net sales for the four weeks ended Aug. 2 rose 18.9% to $773 million.
Dillard's same-store sales in July rise 2%(8:19 am ET)
NEW YORK (MarketWatch) -- Dillard's Inc. (DDS: news, chart, profile) said Thursday its July sales at stores open at least one year rose 2%. Analysts, on average, had expected the same-store sales to fall 3.5%, according to Thomson Financial. Total sales for the four weeks ended Aug. 2 rose 3% to $514 million.
CORRECT:Abercrombie & Fitch same-store sales fall 7% in July(8:16 am ET)
NEW YORK (MarketWatch) -- Abercrombie & Fitch (ANF: news, chart, profile) said Thursday its July sales at stores open at least one year fell 7%. Analysts, on average, had expected the same-store sales to fall 1.4%, according to Thomson Financial. Net sales for the four weeks ended Aug. 2 rose 2% to $296 million. (Corrects analysts' estimate for same-store sales)
Aeropostale ups profit forecast as same-store sales rise(8:14 am ET)
NEW YORK (MarketWatch) -- Aeropostale Inc. (ARO: news, chart, profile) said Thursday its July sales at stores open at least one year rose 13%. Analysts, on average, had expected the same-store sales to rise 8.2%, according to Thomson Financial. Total net sales for the four weeks ended Aug. 2 rose 24% to $139 million. Aeropostale also raised its profit estimate for the second quarter to between 30 cents and 31 cents a share.
Progress Energy swings to Q2 profit (7:53 am ET)
NEW YORK (MarketWatch) -- Progress Energy Inc (PGN: news, chart, profile) said Thursday its second quarter earnings were $205 million, or 79 cents a share, compared to losses of $193 million, or 75 cents a share, in the second quarter of 2007. Analysts surveyed by Factset estimated, on average, earnings of 59 cents a share. The company said the year-on-year swing was due to losses in 2007 from transactions associated with exiting the merchant energy business. Second-quarter ongoing earnings were $199 million, or 77 cents a share, compared to $142 million, or 56 a share in 2007.
MF Global profit falls 80%(7:47 am ET)
NEW YORK (MarketWatch) -- MF Global (MF: news, chart, profile) , a broker of exchange-traded futures and options, said Thursday that its fiscal first quarter profit fell 80% from a year ago, to $14.4 million, or 12 cents a share, from $729 million, or 70 cents a share. Total revenues fell to $913.9 million from $1.57 billion.
Talbots posts second-quarter sales decline, backs year view(7:45 am ET)
NEW YORK (MarketWatch) - Talbots Inc. (TLB: news, chart, profile) said Thursday that its second-quarter sales fell to $528 million from $572 million in the year-ago period. By brand, retail sales were $352 million for Talbots compared to $392 million last year, and $74 million for J. Jill compared to $80 million last year. Total company sales at stores open at least one year fell 12% for the period. By brand, same-store sales for Talbots fell 11.7%, and J. Jill same-store sales slid 13.2%. The clothing retailer reconfirmed its previous forecast for 2008 earnings from ongoing core operatings within a range of 47 to 52 cents a share. Including noncore operations, the company's full-year loss is expected within a range of 7 to 17 cents a share.
Sara Lee swings to fourth-quarter loss of 98 cents a share(7:41 am ET)
NEW YORK (MarketWatch) -- Sara Lee Corp. (SLE: news, chart, profile) said Thursday its fourth-quarter loss totaled $695 million, or 98 cents a share, from a profit of $117 million, or 16 cents a share, in the same quarter a year before. Revenue for the quarter was $3.51 billion compared to $3.13 billion in the year-ago period. Sara Lee said it currently expects full-year fiscal 2009 earnings from continuing operations to be in the range of $1.12 to $1.20 a share.
Williams profit ahead of estimates (7:39 am ET)
NEW YORK (MarketWatch) -- Williams Companies Inc (WMB: news, chart, profile) reported Thursday second quarter earnings of $437 million, or 73 cents a share, compared to $433 million, or 71 cents a share, in the second quarter of 2007. Analysts surveyed by Factset, on average, estimated earnings of 70 cents a share. The company credited the improved results to high natural gas prices and strong growth in natural gas production.
Sirius XM Radio narrows quarterly loss(7:22 am ET)
LONDON (MarketWatch) -- Sirius XM Radio Inc. (SIRI: news, chart, profile) said Thursday that its second-quarter net loss narrowed to $83.9 million, or 6 cents a share, from $134.1 million, or 9 cents a share, a year earlier. Revenue for the quarter rose 25% to $226.4 million and subscriber numbers were also up 25% from a year earlier to 8.92 million. The adjusted net loss was 5 cents a share. Analysts polled by FactSet were expecting a loss of 7 cents a share.