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Friday, June 19

Wyndham sticks to second-quarter target(9:12 am ET)
CHICAGO (MarketWatch) -- In the midst of the global travel slowdown, Wyndham Worldwide (WYN: news, chart, profile) said Friday that it is sticking to its second-quarter profit targets. Before the start of trading, the hotel operator said that it still expects to earn 36 cents to 41 cents a share for the period on an adjusted basis with earnings before interest, taxes, deprecation and amortization coming in at $760 million to $810 million for the full year. Shares of Wyndham ended Thursday's session down 3% at $11.20.

CarMax earnings per share steady at 13 cents.(7:58 am ET)
NEW YORK (MarketWatch) -- CarMax Inc. (KMX: news, chart, profile) said Friday that first-quarter earnings were $29 million, or 13 cents a share, compared to $30 million, or 13 cents a share, in the same period a year ago. Sales were $1.8 billion compared to $2.2 billion. Analysts polled by FactSet Research estimated, on average, earnings per share of 3 cents and sales of $1.7 billion for the Richmond, Va. based used car retailer

Taylor Wimpey sees continued stability in U.K.(2:32 am ET)
LONDON (MarketWatch) -- U.K. house builder Taylor Wimpey (UK:TW: news, chart, profile) said Friday that it has seen continued stability in U.K. markets in recent months as well as an improvement in its North American operations following the difficult conditions in January and February. "Whilst wider economic conditions remain weak and rising unemployment could still have an effect on our markets, the severe downside scenarios for which we have bee planning now appear less likely to materialize," the company said. In the U.K. net reservation rates remain around 0.6 per site per week, with prices broadly flat and cancellation rates below the long-run average. In North America the group said pricing is now generally stable, following some falls in the first quarter.
Thursday, June 18

RIM earnings jump in first quarter(4:13 pm ET)
SAN FRANCISCO (MarketWatch) - Research In Motion Ltd. said Thursday afternoon that earnings for its first fiscal quarter jumped 33% thanks to strong sales of the company's line of BlackBerry smartphones. For the period ended May 30, RIM (RIMM: news, chart, profile) said it earned $643 million, or $1.12 a share, compared to earnings of $482.5 million, or 84 cents a share, for the same period the previous year. Earnings excluding special items came in at $564.4 million, or 98 cents a share. Revenue jumped 53% to $3.42 billion for the quarter. Analysts were expecting earnings of 94 cents a share on revenue of $3.4 billion, according to consensus forecasts from FactSet Research. The company said it expects revenue to come in the range of $3.45 billion to $3.7 billion for the second quarter, with earnings between 94 cents a share and $1.03 a share. Analysts were expecting $3.6 billion in revenue with earnings of 95 cents a share for the period.

Carnival profit slumps, cuts outlook (9:33 am ET)
CHICAGO (MarketWatch) -- Lower prices and the outbreak of swine flu in Mexico dragged down Carnival Corporation's fiscal second quarter bottom line as the cruise line operator on Thursday reported a steep drop in profit. Before the start of trading, Carnival (CCL: news, chart, profile) said that it earned $264 million, or 33 cents a share, on the period - down from $390 million, or 49 cents a share, in the same quarter a year ago. Revenue fell to $2.9 billion from $3.4 billion. The average estimate of analysts polled by FactSet Research had been for the company to earn 28 cents a share. Looking ahead, the company said it now expects to earn $2 to $2.10 a share for the full year, vs. a previous target of $2.10 to $2.30 and below the current Wall Street view of $2.11.

Discover's quarterly net falls slightly(8:47 am ET)
BOSTON (MarketWatch) -- Discover Financial Services Inc. (DFS: news, chart, profile) on Thursday reported second-quarter net income of $225.8 million, or 43 cents a share, compared with $234.1 million, or 48 cents a share, in the year-ago period. Discover said net income in the latest quarter included about $295 million related to the Visa/MasterCard antitrust litigation settlement. The company, which declared a dividend of 2 cents a share, said provision for loan losses rose to $643.9 million from $211 million in the same quarter the previous year.

J.M. Smucker earnings leap to 80 cents a share(7:19 am ET)
NEW YORK (MarketWatch) -- The J. M. Smucker Company (SJM: news, chart, profile) said Thursday that it earned $94 million, or 80 cents a share, in the fourth quarter. In the same period a year ago it earned $37 million, or 67 cents a share. Sales rose to $1.1 billion compared to $590 million. On an adjusted basis, earnings per share were $1.01 versus 73 cents. Analysts polled by FactSet Research estimated, on average, earnings per share of 69 cents and sales of $997 million. Results include the merger of The Folger Coffee Company. For fiscal 2010, excluding items, earnings per share are expected to range between $3.65 and $3.80.

Pier 1 Imports swings to profit(6:15 am ET)
LONDON (MarketWatch) -- Home furnishings and gifts retailer Pier 1 Imports Inc. (PIR: news, chart, profile) said Thursday that it swung to a fiscal first-quarter net profit of $29.3 million, or 32 cents a share, from a loss of $32.8 million, or 37 cents a share, a year earlier. Revenue for the quarter fell 9.3% to $281.1 million and comparable store sales dropped 7.5%. The group said it improved its margins thanks to reduced supply chain costs and decreased clearance activity. Store occupancy costs also fell due to negotiated reductions in rent. The company said it also collected $10 million during the quarter from the settlement of foreign litigation.
Wednesday, June 17

State Street repays $2 billion in TARP funds(7:34 pm ET)
LOS ANGELES (MarketWatch) -- State Street Corp. (STT: news, chart, profile) said late Wednesday that it has repaid the full amount of the Treasury Department's $2 billion investment in the company under the TARP Capital Purchase Program. Boston-based State Street said it redeemed all of the outstanding shares of preferred stock issued to the Treasury, with the move set to reduce its net income by approximately $105 million in the second quarter, as a result of the difference between the amortized cost of the preferred stock and the redemption price. State Street also said it will start discussions with the Treasury for the financial-services firm to repurchase the Treasury's warrant to buy 2.79 million State Street shares.