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Tuesday, Sept. 2
Donaldson fourth-quarter profit rises to 60 cents a share(4:39 pm ET)
SAN FRANCISCO (MarketWatch) -- Donaldson Co. (DCI: news, chart, profile) said late Tuesday that its fourth-quarter net income rose to $48.6 million, or 60 cents a share, from $43.4 million, or 53 cents a share, a year ago. Revenue rose to $607.4 million from $524.7 million in the year-ago period. Analysts surveyed by FactSet Research estimated net income of 61 cents on revenue of $603.8 million. The company forecast 2009 net income of $2.30 to $2.40 a share. Analysts expect $2.44 a share.
Exxon Mobil weighs impact of Gustav, moves supply(11:33 am ET)
NEW YORK (MarketWatch) -- Exxon Mobil (XOM: news, chart, profile) refining spokeswoman Premlata Nair said the oil giant remains in close communication with the Department of Energy as it evaluates supply options after hurricane Gustav and ahead of coming Atlantic storms from Hanna and Ike. "We are currently moving product supply from non-impacted areas to help meet any significant shortfall resulting from the hurricane," Nair said. "As we assess the impact of Hurricane Gustav we continue to evaluate our supply options." A U.S. Energy Department spokeswoman told Dow Jones Newswires the government stands ready to release oil from the Strategic Petroleum Reserve under traditional hurricane procedures, but that no refiners had yet submitted requests.
Energy stocks fall on fading Gustav (9:41 am ET)
NEW YORK (MarketWatch) -- Energy stocks fell sharply Tuesday as oil traded well below $110 a barrel in the wake of less-than-expected damage from Hurricane Gustav. The Amex Oil Index (XOI: news, chart, profile) fell 2% to 1,290, near its lower points for the year. The Amex Natural Gas Index (XNG: news, chart, profile) fell 2.8% to 584.
DuPont to increase photovoltaic production(9:22 am ET)
NEW YORK (MarketWatch) -- DuPont (DD: news, chart, profile) on Tuesday unveiled plans to boost its presence in the photovoltaic solar market to tap into targeted sector growth of 50% a year. Already billing itself as a leading supplier to the solar market, DuPont said it'll double production of its Tedlar films, with scope and site selection work underway for a plant start-up in late 2009. DuPont, a component of the Dow Jones Industrial Average ($DJ: news, chart, profile) , did not disclose a price tag for the production effort, but said it hopes to reach more than $1 billion in annual solar material sales within the next five years.
Hays' annual profit rises but demand flattens in U.K.(2:31 am ET)
LONDON (MarketWatch)-- U.K. staffing firm Hays (UK:HAS: news, chart, profile) on Tuesday said net in come for the year ended June 30 rose 13% to 188.2 million pounds, or 13.33 pence a share, from 166.5 million pounds, or 11.39 pence a share, earned in the year-earlier quarter. Sales climbed 20% to 2.54 billion pounds. In the U.K. Hays said demand for temporary placements has flattened out.
Greene King facing lower consumer spending(2:24 am ET)
LONDON (MarketWatch) -- U.K. brewer and pub operator Greene King (UK:GNK: news, chart, profile) said Tuesday that market conditions in the 16 weeks to Aug. 24 have been challenging as consumer confidence weakened and consumer spending continued to contract. The group said comparable sales in its pub management arm fell 1.6%, while in its tenancy and pub leasing arm comparable profit was similarly down 1.7%, with an increasing level of support being provided to tenants. The brewing division's volumes fell 3%, though the group said this was still a strong performance compared to the near double-digit decline in the wider beer market. The group said its board of directors still expects the company to meet its targets for the year.
Monday, Sept. 1
GDF-Suez confirms 2008 targets as first-half profit climbs (2:49 am ET)
LONDON (MarketWatch) -- Utility giant GDF-Suez (FR:GSZ: news, chart, profile) on Monday said first-half pro-forma net income rose 14% to 3.38 billion euros ($5 billion) from 2.96 billion euros earned in the year-earlier period. Sales climbed 17% to 43.1 billion euros. The results are the first since the merger of Gaz de France SA and Suez SA last month. The group confirmed its objective for growth in earnings before interest, taxes, depreciation and amortization of at least 10% in 2008 and its dividend payout target of at least 50% of recurring net income.
Elbit Imaging 2nd-quarter net off 33%, revenue up 66%(2:04 am ET)
TEL AVIV (MarketWatch) -- Elbit Imaging Ltd., (EMITF: news, chart, profile) the Tel Aviv real-estate developer and provider of medical-imaging equipment, reported second-quarter net income fell 33% on 66% higher revenue. Earnings dropped to 56 million shekels from 83.6 million in the year-earlier period. Adjusted earnings, excluding stock-based compensation, fell 34% to 66.8 million shekels, Elbit Imaging reported on Sunday. Revenue rose to 496.3 million shekels from 298.8 million. The company has about $1 billion available to "explore new opportunities," President Shimon Yitzhaki said in a statement.
Friday, Aug. 29
PartyGaming swings to profit, names new chairman(2:48 am ET)
LONDON (MarketWatch) -- Online gambling company PartyGaming (UK:PRTY: news, chart, profile) on Friday reported a first-half net profit of $22.7 million, or 5.3 cents a share, compared to a loss of $50.6 million, or 12.3 cents a share, a year earlier. Revenue for the six month period rose 17% to $254.8 million. Earnings before interest, taxes, depreciation and amortization rose 76% to $64.9 million and were ahead of the $57.7 million forecast in a Dow Jones Newswires poll. The group said revenue grew across all its games, but the primary driver was its online casino as both the number of players and the amount they each gambled increased. PartyGaming said discussion with the U.S. Department of Justice, which began in June last year are still continuing. Separately the group said it's appointed Rod Perry as its new non-executive chairman. He succeeds Michael Jackson, who announced his plans to step down in May.
Bradford & Bingley swings to loss as bad debt charges soar(2:35 am ET)
LONDON (MarketWatch) -- U.K. mortgage bank Bradford & Bingley (UK:BB: news, chart, profile) said Friday that it swung to a first-half net loss of 17.2 million pounds ($31.4 million) from a profit of 129 million pounds a year earlier. The bank, which recently completed a 400 million pounds rights issue at the third attempt, said the loss mainly reflected losses on treasury assets, including an impairment charge of 64.8 million pounds on its structured investment portfolio. Underlying pretax profit fell over 60% to 70.2 million pounds as arrears levels continued to rise and the bank's margin declined. Bad debt charges jumped to 74.6 million pounds from 5.3 million pounds a year earlier. Total pretax loss was 26.7 million pounds, while analysts at Keefe, Bruyette & Woods had been expecting a pretax loss of around 20 million pounds.