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Monday, August 13, 2012 1:36:17 PM
EARNINGSWATCH: Friday, Aug. 10
CareFusion shares jump on earnings, forecast(11:01 am ET)
LOS ANGELES (MarketWatch) -- Shares of CareFusion Corp. (CFN: news, chart, profile) jumped nearly 8% in early trading Friday after the company beat forecasts on fourth-quarter earnings and offered a full-year forecast that was ahead of estimates. CareFusion said adjusted earnings for the quarter were 51 cents a share, while analysts polled by FactSet had expected income of 50 cents a share. CareFusion said in its earnings release issued after the close Thursday that it expects fiscal 2013 earnings of $2.11 to $2.21 a share, excluding acquisition-related costs. The FactSet estimate had been for $1.98 and was raised to $2.05 after earnings were reported. Shares of CareFusion were up more than 7% to $26.32 in recent action.
Codexis drops 15% on earnings outlook(10:45 am ET)
BOSTON (MarketWatch) -- Shares of Codexis Inc. (CDXS: news, chart, profile) fell 15% to $2.61 on Friday the day after the biochemicals group reported a widened quarterly loss. Codexis attributed the shortfall in part to the timing of certain pharmaceutical orders. The biotech group also said that it expects partner Shell Oil to reduce certain collaborative funding starting on Sept. 1, and does not anticipate any additional funding after Oct. 31. Codexis also anticipates pharmaceutical sales for 2012 will be largely flat with those of 2011 at $49 million. As a result, Codexis said it now sees 2012 revenue coming in lower than last year's, and expects to report a year-end adjusted EBITDA loss. Codexis expects to end 2012 with about $50 million in cash and short-term securities. The stock has fallen 30% over the past 30 days and is off 50% year-to-date.
Roundy's shares drop 22% after grocer cuts outlook(10:43 am ET)
SAN FRANCISCO (MarketWatch) -- Investors checked out of regional supermarket chain Roundy's (RNDY: news, chart, profile) Friday after the grocer cut its 2012 outlook. Roundy's shares tumbled 22% to $7.94 in morning trade. Following the earnings report, at least three analysts downgraded Roundy's, which operates 159 stores in Wisconsin, Minnesota and Illinois. Roundy's said tight-fisted shoppers and price competition from other supermarket chains was weighing on its business. BB&T analyst Andy Wolf indicated that Wal-Mart (WMT: news, chart, profile) , Target (TGT: news, chart, profile) and Whole Foods Market (WFM: news, chart, profile) have opened new stores in and around Milwaukee and Minneapolis, cities that are core markets for Roundy's. Roundy's shares now trading under their Feb. 8 initial public offering price of $8.50.
Yahoo leads early tech slump; chips rise(9:46 am ET)
SAN FRANCISCO (MarketWatch) -- Tech stocks opened to mostly weak trades on Friday morning, led by a 5% drop at Yahoo Inc. (YHOO: news, chart, profile) , which warned investors the previous afternoon that it was considering several initiatives under new CEO Marissa Mayer, including not returning all of the cash it gets from selling its stake in Alibaba to shareholders. Yahoo was downgraded to neutral by Bank of America/Merrill Lynch, with analyst Justin Post noting the risk that the company may make "material acquisitions" that "could disappoint a portion of the shareholder base." The Nasdaq Composite (COMP: news, chart, profile) was down about 0.2% to 3,012. The Philadelphia Semiconductor Index rose nearly 0.5%, helped by strong gains at Nvidia (NVDA: news, chart, profile) and Broadcom (BRCM: news, chart, profile) .
Thursday, Aug. 9
Roundy's outlook cut as grocers fight for shoppers(5:34 pm ET)
SAN FRANCISCO (MarketWatch) -- Supermarket chain Roundy's (RNDY: news, chart, profile) lowered its financial forecast late Thursday in another sign grocers are duking it out to lure customers as the economy remains sluggish. In a statement, chief executive Robert Mariano indicated that an "increasingly price-conscious consumer and greater-than-anticipated pricing and promotional activity in several of our major markets" was weighing on the company. He said Roundy's would defend its turf through promotions. Milwaukee-based Roundy's operates 159 stores in Wisconsin, Minnesota and Illinois. Its shares fell 5% to $9.75 in late trade.
Scotts Miracle-Gro profit down 21%(4:52 pm ET)
SAN FRANCISCO (MarketWatch) -- Scotts Miracle-Gro (SMG: news, chart, profile) reported after the close Thursday fiscal third-quarter profit of $99.4 million, or $1.60 a share, down from $126.7 million, or $1.91 a share, a year ago. Revenue for the three months ended June 30 fell to $1.062 billion from $1.058 billion. Analysts expected the Marysville, Ohio-based manufacturer of branded consumer lawn and garden products to earn $1.93 cents a share, according to FactSet polling. The stock fell almost 9% in after-hours trade to $37.75 a share, but has been down over 11% since January and over 3% in the past 12 months.
CareFusion fourth-quarter income rises 29%(4:50 pm ET)
LOS ANGELES (MarketWatch) -- CareFusion Corp. (CFN: news, chart, profile) on Thursday said fourth-quarter net income rose 29% to $110 million, or 49 cents a share, compared with $85 million, or 37 cents a share, for the same period a year ago. Reporting after the close, the the San Diego-based medical technology company said revenue was up 3% to $968 million from the $940 million reported a year ago. Adjusted earnings were 50 cents a share. Analysts polled by FactSet had expected earnings of 39 cents a share. Shares ended the regular session up marginally to $24.57 and were unchanged after hours.
Ubiquiti plunges as counterfeits hurt outlook(4:48 pm ET)
SAN FRANCISCO (MarketWatch) -- Ubiquiti Networks Inc. reported strong earnings growth for its fourth fiscal quarter, but saw its shares crash in after-hours trading as the network technology company warned that counterfeit products will hurt its forecast. The stock was down nearly 40% in after-hours trading. In its statement reporting 57% earnings growth for the June quarter, Ubiquiti (UBNT: news, chart, profile) said "the amount of counterfeited goods, combined with the impact it has on our distributor's inventory and the purchasing patterns of our customers, will impact our business outlook for the next two fiscal quarters." The company forecast revenue in the range of $62 million to $70 million for the September quarter -- far below the $98.4 million expected by analysts for the period.
Nordstrom profit slips 11%; lifts 2012 targets(4:37 pm ET)
SAN FRANCISCO (MarketWatch) -- Nordstrom (JWN: news, chart, profile) late Thursday posted an 11% decrease in second-quarter profit but did lift its 2012 financial targets. The Seattle-based department-store chain also said it would accelerate new openings of its Nordstrom Rack stores. Profit for the quarter ended July 28 was $156 million, or 75 cents a share, down from $175 million, or 80 cents a share, in the same 2011 period. Revenue rose 7% to $2.92 billion, while same-store sales grew 4.5%. Gross margin declined to 36.6% from 37.4% in last year's same period. For 2012, Nordstrom raised its earnings target to $3.40 to $3.50 a share and increased its same-store sales guidance to growth of 6% to 7%. At the same time, the department store chain did indicate it would face more margin pressure. Nordstrom shares rose almost 2% to $56 in after-hours trade. The stock is up 11% year-to-date.
Nvidia shares up as results, outlook beat street(4:28 pm ET)
SAN FRANCISCO (MarketWatch) - Nvidia Corp. (NVDA: news, chart, profile) on Thursday reported a second-quarter profit of $119 million, or 19 cents a share, compared with a profit of $151.6 million, or 25 cents a share, for the year-earlier period. Revenue was $1.04 billion, up from $1.02 billion. Adjusted profit was 27 cents a share. Analysts were expecting the chipmaker to report a profit of 14 cents a share, on revenue of $1 billion, according to a consensus survey by FactSet. For the current quarter, the company expects revenue of between $1.15 billion and $1.25 billion. Analysts were expecting the company to post revenue of $1.09 billion, according to FactSet. Shares of Nvidia were up 5% in after-hours trading.
http://www.marketwatch.com/news/markets/earningswatch.asp
CareFusion shares jump on earnings, forecast(11:01 am ET)
LOS ANGELES (MarketWatch) -- Shares of CareFusion Corp. (CFN: news, chart, profile) jumped nearly 8% in early trading Friday after the company beat forecasts on fourth-quarter earnings and offered a full-year forecast that was ahead of estimates. CareFusion said adjusted earnings for the quarter were 51 cents a share, while analysts polled by FactSet had expected income of 50 cents a share. CareFusion said in its earnings release issued after the close Thursday that it expects fiscal 2013 earnings of $2.11 to $2.21 a share, excluding acquisition-related costs. The FactSet estimate had been for $1.98 and was raised to $2.05 after earnings were reported. Shares of CareFusion were up more than 7% to $26.32 in recent action.
Codexis drops 15% on earnings outlook(10:45 am ET)
BOSTON (MarketWatch) -- Shares of Codexis Inc. (CDXS: news, chart, profile) fell 15% to $2.61 on Friday the day after the biochemicals group reported a widened quarterly loss. Codexis attributed the shortfall in part to the timing of certain pharmaceutical orders. The biotech group also said that it expects partner Shell Oil to reduce certain collaborative funding starting on Sept. 1, and does not anticipate any additional funding after Oct. 31. Codexis also anticipates pharmaceutical sales for 2012 will be largely flat with those of 2011 at $49 million. As a result, Codexis said it now sees 2012 revenue coming in lower than last year's, and expects to report a year-end adjusted EBITDA loss. Codexis expects to end 2012 with about $50 million in cash and short-term securities. The stock has fallen 30% over the past 30 days and is off 50% year-to-date.
Roundy's shares drop 22% after grocer cuts outlook(10:43 am ET)
SAN FRANCISCO (MarketWatch) -- Investors checked out of regional supermarket chain Roundy's (RNDY: news, chart, profile) Friday after the grocer cut its 2012 outlook. Roundy's shares tumbled 22% to $7.94 in morning trade. Following the earnings report, at least three analysts downgraded Roundy's, which operates 159 stores in Wisconsin, Minnesota and Illinois. Roundy's said tight-fisted shoppers and price competition from other supermarket chains was weighing on its business. BB&T analyst Andy Wolf indicated that Wal-Mart (WMT: news, chart, profile) , Target (TGT: news, chart, profile) and Whole Foods Market (WFM: news, chart, profile) have opened new stores in and around Milwaukee and Minneapolis, cities that are core markets for Roundy's. Roundy's shares now trading under their Feb. 8 initial public offering price of $8.50.
Yahoo leads early tech slump; chips rise(9:46 am ET)
SAN FRANCISCO (MarketWatch) -- Tech stocks opened to mostly weak trades on Friday morning, led by a 5% drop at Yahoo Inc. (YHOO: news, chart, profile) , which warned investors the previous afternoon that it was considering several initiatives under new CEO Marissa Mayer, including not returning all of the cash it gets from selling its stake in Alibaba to shareholders. Yahoo was downgraded to neutral by Bank of America/Merrill Lynch, with analyst Justin Post noting the risk that the company may make "material acquisitions" that "could disappoint a portion of the shareholder base." The Nasdaq Composite (COMP: news, chart, profile) was down about 0.2% to 3,012. The Philadelphia Semiconductor Index rose nearly 0.5%, helped by strong gains at Nvidia (NVDA: news, chart, profile) and Broadcom (BRCM: news, chart, profile) .
Thursday, Aug. 9
Roundy's outlook cut as grocers fight for shoppers(5:34 pm ET)
SAN FRANCISCO (MarketWatch) -- Supermarket chain Roundy's (RNDY: news, chart, profile) lowered its financial forecast late Thursday in another sign grocers are duking it out to lure customers as the economy remains sluggish. In a statement, chief executive Robert Mariano indicated that an "increasingly price-conscious consumer and greater-than-anticipated pricing and promotional activity in several of our major markets" was weighing on the company. He said Roundy's would defend its turf through promotions. Milwaukee-based Roundy's operates 159 stores in Wisconsin, Minnesota and Illinois. Its shares fell 5% to $9.75 in late trade.
Scotts Miracle-Gro profit down 21%(4:52 pm ET)
SAN FRANCISCO (MarketWatch) -- Scotts Miracle-Gro (SMG: news, chart, profile) reported after the close Thursday fiscal third-quarter profit of $99.4 million, or $1.60 a share, down from $126.7 million, or $1.91 a share, a year ago. Revenue for the three months ended June 30 fell to $1.062 billion from $1.058 billion. Analysts expected the Marysville, Ohio-based manufacturer of branded consumer lawn and garden products to earn $1.93 cents a share, according to FactSet polling. The stock fell almost 9% in after-hours trade to $37.75 a share, but has been down over 11% since January and over 3% in the past 12 months.
CareFusion fourth-quarter income rises 29%(4:50 pm ET)
LOS ANGELES (MarketWatch) -- CareFusion Corp. (CFN: news, chart, profile) on Thursday said fourth-quarter net income rose 29% to $110 million, or 49 cents a share, compared with $85 million, or 37 cents a share, for the same period a year ago. Reporting after the close, the the San Diego-based medical technology company said revenue was up 3% to $968 million from the $940 million reported a year ago. Adjusted earnings were 50 cents a share. Analysts polled by FactSet had expected earnings of 39 cents a share. Shares ended the regular session up marginally to $24.57 and were unchanged after hours.
Ubiquiti plunges as counterfeits hurt outlook(4:48 pm ET)
SAN FRANCISCO (MarketWatch) -- Ubiquiti Networks Inc. reported strong earnings growth for its fourth fiscal quarter, but saw its shares crash in after-hours trading as the network technology company warned that counterfeit products will hurt its forecast. The stock was down nearly 40% in after-hours trading. In its statement reporting 57% earnings growth for the June quarter, Ubiquiti (UBNT: news, chart, profile) said "the amount of counterfeited goods, combined with the impact it has on our distributor's inventory and the purchasing patterns of our customers, will impact our business outlook for the next two fiscal quarters." The company forecast revenue in the range of $62 million to $70 million for the September quarter -- far below the $98.4 million expected by analysts for the period.
Nordstrom profit slips 11%; lifts 2012 targets(4:37 pm ET)
SAN FRANCISCO (MarketWatch) -- Nordstrom (JWN: news, chart, profile) late Thursday posted an 11% decrease in second-quarter profit but did lift its 2012 financial targets. The Seattle-based department-store chain also said it would accelerate new openings of its Nordstrom Rack stores. Profit for the quarter ended July 28 was $156 million, or 75 cents a share, down from $175 million, or 80 cents a share, in the same 2011 period. Revenue rose 7% to $2.92 billion, while same-store sales grew 4.5%. Gross margin declined to 36.6% from 37.4% in last year's same period. For 2012, Nordstrom raised its earnings target to $3.40 to $3.50 a share and increased its same-store sales guidance to growth of 6% to 7%. At the same time, the department store chain did indicate it would face more margin pressure. Nordstrom shares rose almost 2% to $56 in after-hours trade. The stock is up 11% year-to-date.
Nvidia shares up as results, outlook beat street(4:28 pm ET)
SAN FRANCISCO (MarketWatch) - Nvidia Corp. (NVDA: news, chart, profile) on Thursday reported a second-quarter profit of $119 million, or 19 cents a share, compared with a profit of $151.6 million, or 25 cents a share, for the year-earlier period. Revenue was $1.04 billion, up from $1.02 billion. Adjusted profit was 27 cents a share. Analysts were expecting the chipmaker to report a profit of 14 cents a share, on revenue of $1 billion, according to a consensus survey by FactSet. For the current quarter, the company expects revenue of between $1.15 billion and $1.25 billion. Analysts were expecting the company to post revenue of $1.09 billion, according to FactSet. Shares of Nvidia were up 5% in after-hours trading.
http://www.marketwatch.com/news/markets/earningswatch.asp
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