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Thursday, June 11

National Semiconductor swing to $63.7 million loss(4:10 pm ET)
SAN FRANCISCO (MarketWatch) -- National Semiconductor Corp. (NSM: news, chart, profile) on Thursday reported a fiscal fourth-quarter loss of $63.7 million, or 28 cents a share, on revenue of $281 million. Analysts surveyed by Thomson Reuters had forecast National Semi to lose 38 cents a share on $273 million in sales. During the same period a year ago, the analog chip maker earned $83.2 million, or 34 cents a share, on revenue of $462 million. For its fiscal first quarter, the company estimates sales will be between $285 mililon and $305 million.

Palm, Qualcomm highlight early tech trading action(9:42 am ET)
SAN FRANCISCO (MarketWatch) -- Palm Inc. (PALM: news, chart, profile) and Qualcomm Inc. (QCOM: news, chart, profile) were in the tech-sector spotlight in early trading Thursday, as the tech sector tried to turn around from the previous session's losses. Palm rose 36 cents a share, or 3%, to $12.35 after the smart phone maker named Jon Rubenstein as its new CEO, while Qualcomm gave up 58 cents a share to trade at $45.47 after the company raised its third-quarter revenue and earnings forecasts, but said it is still cautious about the weak global economy. The tech-heavy Nasdaq Composite Index ($COMPQ: news, chart, profile) rose 5 poinst to 1,858.

Qualcomm boosts third-quarter outlook (9:11 am ET)
NEW YORK (MarketWatch) -- Qualcomm Inc. (QCOM: news, chart, profile) on Thursday boosted its third-quarter revenue outlook to $2.67 billion to $2.77 billion, based on demand for high-end phone chips. The tech firm's earlier revenue view was $2.4 billion to $2.6 billion. Qualcomm now expects third-quarter operating profit of $830 million to $880 million, up sharply from its earlier estimate of $550 million to $650 million. "We are very pleased to raise our fiscal third quarter guidance, reflecting the strong worldwide demand for wireless broadband powered by 3G CDMA," the company said. Shares rose 1% to $46.59 in pre-market trades.

GE Energy inks $500 million power plant pact (8:13 am ET)
NEW YORK (MarketWatch) -- GE Energy, a unit of General Electric Co. (GE: news, chart, profile) , said Thursday it inked $500 million in contracts to equip Al Dur Independent Water and Power Project, the largest power plant in the Kingdom of Bahrain. GE will supply gas turbines and other gear for the plant, which will provide 1,250 megawatts of power and provide about 30% of the kingdom's existing electricity output, as well as 48 million imperial gallons of desalinated water a day. GE also signed a 20-year contractual service agreement contract for the project, which will support the long-term operability and performance of the turbines.

Clorox hikes quarterly dividend 9% (7:55 am ET)
NEW YORK (MarketWatch) -- The Clorox Co. (CLX: news, chart, profile) said its board declared a quarterly dividend of 50 cents a share, payable Aug. 14 to stockholders of record on July 27. The amount represents an increase of 4 cents a share, or 9%, in the company's quarterly dividend. Clorox confirms 2010 earnings per share in the $4.00-to-$4.15 range and 1% to 2% sales growth. FactSet Research analysts estimate, on average, earnings per share of $4.18 for the period. Clorox also said it sees sales growth through fiscal 2013 of 3% to 5% annually.

Genesee & Wyoming cuts earnings forecast(6:51 am ET)
LONDON (MarketWatch) -- Railroad operator Genesee & Wyoming Inc. (GWR: news, chart, profile) on Thursday warned its second-quarter earnings will be below previous expectations after a decline in railroad traffic. The group said it's expecting second-quarter earnings from continuing operations of 35 cents to 37 cents a share on revenue of $130 million. It had previously forecast earnings of around 45 cents a share on revenue of $140 million to $145 million. Genesee & Wyoming said traffic in the second quarter through May was down 5.5% compared to a year ago and same-railroad traffic has slumped 21.4%. The group said it has reduced its active locomotive fleet by 17 units since the end of the first quarter and put an additional 70 employees on leave.
Wednesday, June 10

GM cancels 2010 Malibu hybrid amid slow sales: WSJ(11:07 pm ET)
LOS ANGELES (MarketWatch) -- General Motors Corp. (GM: news, chart, profile) plans to cancel production of the hybrid-electric version of its Chevrolet Malibu sedan for the 2010 model year due to slow sales that has led to a backlog of inventory of the vehicles on dealer lots, The Wall Street Journal reported late Wednesday. A GM spokesman was quoted as saying the company made the decision because of a "sufficient stock of 2009s," and said starting up production in the near future is "possible, but not likely." However, the company will continue to make hybrid versions of the Malibu -- first introduced in 2008 -- for fleet buyers, the report said.

Brown-Forman earnings per share fall to 53 cents(8:08 am ET)
NEW YORK (MarketWatch) -- Brown-Forman Corp. (BFB: news, chart, profile) said Wednesday that fiscal fourth-quarter earnings fell to $80 million, or 53 cents a share, from $99 million, or 65 cents a share, in the same period a year ago. Sales were down 12% to $683 million, from $772 million a year ago. Analysts polled by FactSet Research estimated, on average, earnings per share of 49 cents and sales of $638 million. For fiscal 2010 the Louisville, Ky. maker of alcoholic beverages sees earnings per share in the range of $2.60 to $3.00.

Average gasoline price edges up a penny to $2.63 (7:20 am ET)
NEW YORK (MarketWatch) -- The average retail price for a gallon of unleaded gasoline in the U.S. climbed a penny to $2.63 a gallon on Wednesday, according to the AAA Daily Fuel Gauge Report. Gasoline sold for $2.55 a gallon a week ago and $2.23 a gallon a month ago. A year ago, gasoline cost an average of $4.04 a gallon.

CB Richard Ellis provides earnings guidance(6:28 am ET)
LONDON (MarketWatch) -- Commercial real estate services firm CB Richard Ellis Group Inc. (CBG: news, chart, profile) said Wednesday that it expects to report adjusted second-quarter earnings of between break-even and 7 cents a share. Adjusted earnings a year earlier were 16 cents a share. The group said the forecast is "highly preliminary" because its sales and leases transaction businesses tend to recognize a significant portion of their revenue toward the end of the reporting period. Analysts polled by FactSet Research had been expecting second-quarter earnings of 7 cents a share. Separately the company announced it will offer $400 million of senior subordinated notes due 2017 to repay some of its outstanding debt and for general corporate purposes. It's also sold 13.4 million shares to Paulson & Co. Inc. for gross proceeds of $100 million and intends to sell a further $50 million of shares in an at-the-market offering.

Halfords net profit slips, dividend lifted(2:49 am ET)
LONDON (MarketWatch) -- U.K. auto accessories retailer Halfords (UK:HFD: news, chart, profile) said its net profit for the year ended April 3 fell 13% to 55.8 million pounds ($91.1 million). Revenue rose to 809.5 million pounds from 797.4 million pounds. The group said comparable sales for the year declined by 3.3%. Adjusted operating profit was up 0.9% at 101.9 million pounds. The company said it generated good growth in its core business of car maintenance and cycling and expects to deliver further earnings growth in the current year. The board recommended a final dividend payment of 10.9 pence a share, making a total of 15.9 pence for the year, or an increase of 5.3%.

Inditex posts 5% rise in sales; keeps guidance(2:44 am ET)
MADRID (MarketWatch) -- Spanish retail group Inditex (ES:ITX: news, chart, profile) on Wednesday reported a 5% rise in first quarter sales to 2.3 billion euros ($3.2 billion), against sales of 2.2 billion euros in the same period a year ago. Net income for the group fell 16% to 184 million euros, against 219 million euros a year ago. A survey of analysts polled by Dow Jones Newswires was expecting net income of 190 million euros. From May 1 to June 7, store sales in local currencies rose 9%. Inditex said it would maintain its expectations for both retail space growth and capital expenditure for fiscal year 2009.
Tuesday, June 9

Energy stocks up as oil hits $69(9:51 am ET)
NEW YORK (MarketWatch) -- Energy stocks rose in early action on Tuesday as oil hit $69 a barrel and the broad market moved into the green. The Amex Oil Index (XOI: news, chart, profile) rose 1.1% to 990. The Amex Natural Gas Index (XNG: news, chart, profile) rose 1% to 449. The Philadelphia Oil Service Index ($OSX: news, chart, profile) rose 1.75% to 180. Chesapeake Energy (CHK: news, chart, profile) edged up 5 cents to $22.97 after it agreed to sell $218 million in energy assets to privately held Indigo Minerals LLC. (An earlier version of this article incorrectly stated that oil hit $70 a barrel).

Royal Caribbean sees 22 cents a share hit from flu(8:40 am ET)
NEW YORK (MarketWatch) -- Royal Caribbean Cruises Ltd. (RCL: news, chart, profile) said Tuesday the swine flu will hurt its bottom line by 22 cents a share after it cancelled a product launch in Mexico. Analysts expect the cruise operator to lose 3 cents a share in its current quarter, according to a survey by FactSet Research. The company said it deviated vessels away from Mexican ports and faced pricing pressures in the Mexican market. "The H1N1 outbreak occurred just prior to the launch of Pullmantur's Pacific Dream, a new product targeting Mexican nationals," the company said. "The launch was cancelled and the ship remained idle." Additionally, the outbreak caused a significant reduction in Pullmantur's tour capacity in Mexico. There was essentially no impact on Celebrity's operations, the company said.

Navistar earnings per share tumble to 16 cents(7:20 am ET)
NEW YORK (MarketWatch) -- Navistar International Inc. (NAV: news, chart, profile) said Tuesday that second-quarter earnings fell to $12 million, or 16 cents a share, compared to $211 million, or $2.88 a share, in the same period a year ago. Revenue fell to $2.8 billion from $3.9 billion a year ago. Earnings were reduced by $31 million, or 44 cents a share, from costs related to a settlement with Ford (F: news, chart, profile) . Analysts polled by FactSet Research estimated, on average, earnings per share of 93 cents and sales of $3 billion. Guidance for 2009 is $5.20-$5.50 earnings per share, including Ford settlement effects, and $2.80-$3.10 without Ford impacts.