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Friday, June 5

Bellway sees demand remaining steady(2:25 am ET)
LONDON (MarketWatch) -- U.K. house builder Bellway (UK:BWY: news, chart, profile) said Friday that it has seen no overall major change in demand since the end of March. Net reservations since the start of February have averaged 105 per week and the total number of completed stock units has fallen to 660 from 1,000 at the end of January. Bellway said its southern based divisions have experienced a marginally stronger market and it is envisaged that turnover in these divisions will be much higher by the year end than the northern based divisions, where markets still remain fragile.
Thursday, June 4

Guess tops profit target(4:30 pm ET)
SAN FRANCISCO (MarketWatch) -- Guess Inc. (GES: news, chart, profile) Thursday afternoon reported net earnings for the quarter ended May 2 fell 32% from a year ago. But its profit exceeded analyst expectations and the clothing and apparel maker offered a bright forecast, sending its shares higher in late trading. Guess posted fiscal first-quarter net earnings of $32.5 million, or 35 cents a share. Analysts had expected 29 cents, according to FactSet. Sales fell 10% to $441.2 million. A year ago, Guess earned $47.8 million, or 50 cents a share. The company forecast fiscal second-earnings between 42 cents and 45 cents. Analysts are looking for 37 cents. Los Angeles-based Guess operates 429 retail stores in the U.S. and Canada. It plans to a dividend of 10 cents a share July 2.

Energy stocks recover on upside jobs surprise(9:42 am ET)
NEW YORK (MarketWatch) -- Energy stocks moved past bearish inventory data from the previous session and rose Thursday on a better-than-expected weekly jobs report. The Amex Oil Index (XOI: news, chart, profile) rose 1.4% to 982. The Amex Natural Gas Index (XNG: news, chart, profile) rose 1.5% to 443. The Philadelphia Oil Service Index ($OSX: news, chart, profile) rose 2% to 179. Valero (VLO: news, chart, profile) rose 12 cents to $18.52.

Rite Aid's May same-store sales rise 0.6%(8:50 am ET)
NEW YORK (MarketWatch) - Drugstore chain Rite Aid Corp. (RAD: news, chart, profile) said Thursday that its May same-store sales rose 0.6%. Analysts, on average, had expected same-store sales to rise 0.8%, according to Thomson Reuters. Front-end same-store sales in the five weeks ended May 30 fell 1.5%, while pharmacy same-store sales rose 1.6%. For the quarter ended May 30, same-store sales rose 0.6%.

Vail reports sharp declines in profit, visitation(8:29 am ET)
NEW YORK (MarketWatch) -- The recession tightened its grip on Vail Resorts in the fiscal third quarter as the ski area operator on Thursday reported sharp declines in profit and visitation. Before the start of trading, Vail (MTN: news, chart, profile) said that it earned $61.6 million, or $1.68 a share, for the period. That is down 29% from $87.3 million, or $2.24 a share, in the same quarter last year. Revenue slipped to $334 million from $424 million as the company said it was hit by "the continued severe downturn in the economy, driving lower destination visitation in the quarter." The average estimate of analysts polled by FactSet Research had been for the company to earn $1.56 a share on sales of $341 million.

Family Dollar net to meet or exceed estimate(8:17 am ET)
TEL AVIV (MarketWatch) -- Family Dollar Stores Inc., (FDO: news, chart, profile) the Matthews, N.C., discount retailer, estimated that fiscal third-quarter earnings will be at or above the upper end of its earlier estimate of 54 cents to 58 cents a share. A survey of analysts by FactSet Research produced a consensus estimate of 57 cents for the quarter. Third-quarter sales rose 6.2% on a comparable basis, while total sales rose 8.2% to $1.84 billion from $1.7 billion in the year earlier quarter. "Sales of consumable merchandise continued to be strong," rising 13% in the quarter, Chairman and Chief Executive Howard R. Levine said in a statement. "Notably, sales trends in several discretionary categories improved" from the second quarter.

Dillard May same-store sales down 13%(8:14 am ET)
NEW YORK (MarketWatch) -- Dillard Department Stores Inc. (DDS: news, chart, profile) on Thursday said May same-store sales fell 13%. Analysts expected same-store sales to fall 8%, according to a survey by Thomson Reuters. Total sales dropped to $430 million from $500 million. The Little Rock, Ark. retailer said sales performance in the home and furniture category was significantly below trend during the period.

Ciena loses $503 million on goodwill markdown(7:15 am ET)
NEW YORK (MarketWatch) -- Ciena Corp. (CIEN: news, chart, profile) on Thursday said it lost $503 million, or $5.53 a share in its fiscal second quarter, against year-ago net income of $23.8 million, or 23 cents a share. The latest period included a non-cash charge of $455.7 million for impairment of goodwill. Ciena's adjusted net loss was 25 cents a share. Revenue fell to $144.2 million from $242.2 million. Analysts expected a loss of 14 cents a share for the second quarter, according to a survey by FactSet Research.

The Buckle's same-store sales rise 13.4% in May(7:09 am ET)
NEW YORK (MarketWatch) -- The Buckle Inc. (BKE: news, chart, profile) said Thursday that its May sales at stores open at least one year rose 13.4%. Analysts, on average, had expected same-store sales to rise 11.2%, according to Thomson Reuters. Net sales for the four weeks ended May 30 rose 19.2% to $60.6 million.

Stage Stores May same-store sales fell 7.2%(6:11 am ET)
LONDON (MarketWatch) -- Stage Stores Inc. (SSI: news, chart, profile) said Thursday that its May sales at stores open at least one year fell 7.2%. Analysts, on average, had expected same-store sales to fall 6%, according to Thomson Reuters. Total sales for the four weeks ended May 30 fell 4.7% to $116.8 million from $122.6 million a year earlier.

Costco May same-store sales fell 7%, total off 5%(4:42 am ET)
TEL AVIV (MarketWatch) -- Costco Wholesale Corp., (COST: news, chart, profile) the Issaquah, Wash., warehouse retailer, reported that for May, comparable-store sales fell 7% while total sales fell 5% to $5.47 billion from $5.77 billion in the year-earlier month. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales down 6.4% for the month. The same-store sales reflected declines of 6% in the U.S. and 7% internationally, Costco reported. Excluding a drop in gasoline prices, U.S. same-store sales fell 1%; excluding currency effects, international comparable sales rose 7%. Excluding the special impacts, total comparable-store sales rose 1%. (Adds Thomson Reuters estimate of same-store sales.)

Copart 3rd-quarter net off 9.5%, revenue down 11%(2:35 am ET)
TEL AVIV (MarketWatch) -- Copart Inc., (CPRT: news, chart, profile) the Fairfield, Calif., provider of vehicle-remarketing services for insurers, banks and finance companies, car dealers and more, reported that fiscal-third-quarter net income fell 9.5% on 11% lower revenue. For the quarter ended April 30, earnings were $42.1 million, or 50 cents a share, compared with $46.5 million, or 52 cents, in the year-earlier quarter. Earnings from continuing operations were 48 cents against 52 cents. Shares outstanding fell 5.5% to 84.8 million. Revenue declined to $197.3 million from $221.2 million. The strengthening of the dollar in the latest period compared with the year-earlier reduced the quarter's revenue by $14.1 million, Copart said in a statement on late on Wednesday.
Wednesday, June 3

Williams-Sonoma swings to loss; revenue off 22%(7:32 am ET)
TEL AVIV (MarketWatch) -- Williams-Sonoma Inc., (WSM: news, chart, profile) the San Francisco housewares retailer, swung to a fiscal first-quarter loss from a year-earlier profit on 22% lower revenue and 21% lower comparable-store sales. For the quarter ended May 3, the loss totaled $18.7 million, or 18 cents a share, compared with earnings of $10.4 million, or 10 cents, in the year-earlier quarter. Backing out special items, the results were a loss of 14 cents a share against profit of 5 cents. Revenue fell to $611.6 million from $781.8 million. A survey of analysts by FactSet Research produced consensus estimates of a loss of 21 cents a share on sales of $611.4 million. Gross-profit margin narrowed to 30.1% of revenue from 35.3% a year earlier. Williams-Sonoma affirmed its estimates for the year, saying that while the first-quarter performance was better than expected, the economy remains volatile and promotions may be required as the industry reduces inventory.

Joy Global earnings per share up 77%(7:27 am ET)
NEW YORK (MarketWatch) -- Joy Global Inc. (JOYG: news, chart, profile) said Wednesday that second-quarter earnings were $121 million, or $1.17 a share, compared to $72 million, or 66 cents a share, in the same period a year ago. Sales rose 10% to $924 million, compared to $843 million a year ago. Analysts polled by FactSet Research estimated, on average, earnings per share of 89 cents and sales of $869 million. The mining-equipment maker expects fiscal 2009 revenues to be between $3.5 billion and $3.6 billion and earnings per share to be between $3.80 and $4.00.

Bombardier profit off 31%, revenue down 6.6%(6:31 am ET)
TEL AVIV (MarketWatch) -- Bombardier Inc., (BDRAF: news, chart, profile) (BDRBF: news, chart, profile) (CA:BBD.A: news, chart, profile) (CA:BBD.B: news, chart, profile) the Montreal aerospace and transportation company, reported fiscal first-quarter net income fell 31% on 6.6% lower revenue. For the quarter ended April 30, Bombardier earned US$158 million against US$229 million in the year-earlier quarter. Earnings attributable to shareholders were $156 million, or 9 cents a share, down 31% from $226 million, or 12 cents. Revenue fell to $4.47 billion from $4.79 billion. In the aerospace division, overall deliveries "held up relatively well" in the quarter but "cancellations in business aircraft have outpaced" new orders, President and Chief Executive Pierre Beaudoin said in a statement on Wednesday. "For the rail industry, the fundamentals remain strong and the recession is not currently expected to have a significant impact." At April 30, Bombardier's order backlog was $47.4 billion, compared with $48.2 billion at Jan. 31.

Toll Brothers shrinks loss; write-downs ease(5:36 am ET)
TEL AVIV (MarketWatch) -- Toll Brothers Inc., (TOL: news, chart, profile) the Horsham, Pa., luxury-home builder, reported a narrower fiscal second-quarter net loss on 51% lower revenue. For the quarter ended April 30, the loss was $83.2 million, or 52 cents a share, compared with $93.7 million, or 59 cents, in the year-earlier quarter. Revenue declined to $398.3 million from $818 million. Write-downs in the quarter declined to the equivalent of 48 cents a share from $1.06. The year-earlier quarter also included 15 cents a share of profit from proceeds of a judgment. Excluding special items, the adjusted loss was 3 cents a share in the latest period, compared with earnings of 32 cents a year earlier. A survey of analysts by FactSet Research produced consensus estimates of a loss of 47 cents on $403.1 million of sales. At the end of the second quarter, the backlog was 1,581 units, down 48% from a year earlier. The backlog was valued at $944.3 million, down 55%.

Arrow Electronics sharpens 2nd-quarter estimates(2:49 am ET)
TEL AVIV (MarketWatch) -- Arrow Electronics Inc., (ARW: news, chart, profile) the Melville, N.Y., provider of products and services for users of electronic parts and enterprise-computing solutions, estimated late on Tuesday that fiscal second-quarter earnings would come in at 26 cents to 31 cents a share on revenue of $3.05 billion to $3.65 billion. For the quarter ending July 4, a survey of analysts by FactSet Research produced a consensus estimate of 34 cents of profit on $3.49 billion of revenue. Arrow's previous estimate was 26 cents to 38 cents of profit on $3.15 billion to $3.75 billion of revenue. The global economic crisis continues to hurt Arrow, mainly in the European parts business, the company said in a statement. Sales in global enterprise-computing solutions "in the last few weeks of June, which typically account for a significant portion of the quarter's revenue," will be "a determining factor in the actual revenue and earnings achieved," the company said.
Tuesday, June 2

FirstEnergy issues 2009 profit outlook(5:06 pm ET)
SAN FRANCISCO (MarketWatch) -- FirstEnergy Corp. (FE: news, chart, profile) late Tuesday said it expects to earn fiscal 2009 adjusted earnings between $3.70 and $3.85 a share. On average, analysts expect FirstEnergy to earn $3.64 a share, according to FactSet Research. The Akron, Ohio energy provider plans to make a presentation to analysts on Wednesday in New York City. The company serves 4.5 million customers in Ohio, Pennsylvania and New Jersey. FirstEnergy shares rose more than 3% to $39.97 in late trading.

Aetna lowers 2009 profit guidance(4:10 pm ET)
SAN FRANCISCO (MarketWatch) -- Aetna Inc. (AET: news, chart, profile) said Tuesday it's lowering guidance for earnings in 2009 to between $3.55 and $3.70 a share, from its previous range of between $3.85 and $3.95 a share. The insurance company cited "higher projected Commercial medical costs; and lower projected 2009 Medicare revenue." Shares of Aetna fell more than 10% in late trading to $24.40.