AI
Friday, March 01, 2013 12:09:32 AM
Thursday, Feb. 28: JCP CVC GRPN BSFT TEO FSLR RSH INTU
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Salesforce.com reports $20.8 million loss(4:23 pm ET)
SAN FRANCISCO (MarketWatch) -- Salesforce.com Inc. (CRM: news, chart, profile) on Thursday reported a fourth-quarter loss of $20.8 million, or 14 cents a share, on revenue of $835 million, compared with a loss of $4.1 million, or 3 cents a share, on $632 million in sales in the year-ago quarter. Excluding one-time items, the cloud-based business-software company would have have earned 51 cents a share. Analysts surveyed by FactSet had forecast Salesforce to earn 40 cents a share on $830.8 million in revenue. For its first-quarter, Salesforce estimates it will earn between 40 cents and 42 cents a share. excluding one-time items, on sales of $882 million to $887 million.
Fed's Raskin calls for focus on banks' reputation(12:30 pm ET)
WASHINGTON (MarketWatch) - The risk to a bank that it might suffer losses as a result of a decline in its reputation in the community should receive greater focus from federal bank regulators, said Federal Reserve Governor Susan Bloom Raskin on Thursday. Currently, banks and examiners tend to focus on handling reputational threats that have already surfaced, Raskin said in a speech to a banking-outlook conference sponsored by the Federal Reserve Bank of Atlanta. "This is not risk management, this is crisis management," Raskin said. The share of each deposit dollar that banks lent hit a post-financial crisis low in the third quarter, Raskin noted, making achieving higher earnings a challenge. As a result, pressure on banks to hike fees is "palpable," but a bank with a poor reputation may suffer further criticism and damage, she noted. "So an evaluation of the effects of the new product or activity on the bank's reputation prior to launch [of a fee hike] is arguably necessary," Raskin said.
Groupon shares plunge on outlook, ratings cuts(9:50 am ET)
SAN FRANCISCO (MarketWatch) -- Groupon Inc. (GRPN: news, chart, profile) shares plunged 27% to $4.24 Thursday in the wake of the online daily deal company's disappointing quarterly results and outlook. On Wednesday, Groupon reported a fourth-quarter loss of 12 cents a share, or 5 cents a share excluding one-time items. Analysts surveyed by FactSet had forecast Groupon to earn 3 cents a share. Groupon also gave a first-quarter sales outlook that fell short of Wall Street analysts' estimates. Several analysts cut their ratings on Groupon's stock, with Bank of America/Merrill Lynch analyst Justin Post cut his rating on Groupon's stock to underperform from neutral, mostly due to concerns about the company's lower gross margins. Groupon's share-price drop triggered a short-sell circuit breaker on the Nasdaq stock exchange.
Groupon falls 27% after surprise earnings miss(7:40 am ET)
NEW YORK (MarketWatch) -- Shares of Groupon Inc. (GRPN: news, chart, profile) fell 27% on Thursday in premarket trading. The company, which provides daily deals online, reported a surprise fourth-quarter loss on Wednesday and forecast first-quarter revenue that was less than expected. The company said its loss widened to $81.1 million, or 12 cents a share, in the fourth quarter from a year-ago loss of $65.4 million, or 12 cents a share. Quarterly revenue rose to $638.3 million from $492 million last year. Analysts polled by FactSet had expected earnings of 3 cents a share and revenue of about $640 million. Groupon was downgraded to a market perform rating from outperform by Wells Fargo on Thursday.
Sears Holdings Q4 loss narrowed; adjusted net up(6:33 am ET)
TEL AVIV (MarketWatch) -- Sears Holdings Corp., (SHLD: news, chart, profile) the Hoffman Estates, Ill., retailer, reported a narrower fiscal-fourth-quarter loss and stronger-than-expected adjusted earnings. For the quarter ended Feb. 2, the loss narrowed to $489 million, or $4.61 a share, from $2.4 billion, or $22.63, in the year-earlier quarter. Adjusted earnings from continuing operations more than doubled to $1.12 a share from 54 cents. Sales totaled $12.26 billion compared with $12.48 billion. A survey of analysts by FactSet produced consensus estimates of profit of 98 cents a share on sales of $11.77 billion. Sears Holdings reported U.S. same-store sales off 1.6%.
Wednesday, Feb. 27
Hong Kong stocks climb, led by coal miners(8:49 pm ET)
HONG KONG (MarketWatch) -- Hong Kong stocks Thursday advanced on the back of solid gains in the coal-mining and property sectors, cheering Federal Reserve Chairman Ben Bernanke's commitment to continuing an ultra-easy monetary policy. The Hang Seng Index (HK:HSI: news, chart, profile) added 0.8% to 22,766.97 and the Hang Seng China Enterprises Index gained 1.1% to 11,266.59. China Coal Energy Co. (CCOZY: news, chart, profile) (HK:1898: news, chart, profile) and China Shenhua Energy Co. (CSUAY: news, chart, profile) (HK:1088: news, chart, profile) , two of the worst performing constituents of the Hang Seng Index in February, led the advance on the last day of the month, rising 3% and 2.5%, respectively. Also posting strong gains in the wake of upbeat earnings reports, New World Development Co. (NDVLY: news, chart, profile) (HK:17: news, chart, profile) rose 3.3% to extend the previous day's advance, while Sino Land Co. (SNLAY: news, chart, profile) (HK:83: news, chart, profile) gained 2.8%. China's Shanghai Composite (CN:SHCOMP: news, chart, profile) added 0.1% to 2,315.94.
Victoria's Secret parent posts 14% profit increase(5:19 pm ET)
SAN FRANCISCO (MarketWatch) -- Victoria's Secret owner Limited Brands (LTD: news, chart, profile) said it earned a profit of $411 million, or $1.39 a share, in the fourth quarter. That compares with a profit of $359 million, or $1.17 a share, in the same 2011 period. Adjusted for goodwill charges, Limited said its profit was $1.76 a share, compared with $1.50 in the year-ago quarter. Sales rose 10% to $3.9 billion during the quarter ended Feb. 2, while comparable store sales increased 5%. Gross margin widened to 44.5% from 43.4%. For 2013, Limited expects full-year earnings between $2.92 and $3.12 a share. First-quarter earnings were pegged in the range of 40 cents to 45 cents a share. Limited shares fell 1% to $44.08 in after-hours trade.
Groupon's loss, outlook sink shares in after hours(4:13 pm ET)
SAN FRANCISCO (MarketWatch) -- Groupon Inc. (GRPN: news, chart, profile) on Wednesday reported a fourth-quarter loss of $81.1 million, or 12 cents a share, on revenue of $638.3 million, compared with a loss of $65.4 million, or 12 cents a share, on $492 million in sales in the same period a year ago. Groupon said its results included a loss of 7 cents a share related to a non-operational item. Analysts surveyed by FactSet had forecast Groupon to earn 3 cents a share on revenue of almost $640 million. For its first quarter, Groupon forecast revenue between $560 million and $610 million, while analysts forecast sales of $646.8 million. Groupon's shares plunged 28% in after-hours trading following the release of its results.
Priceline gains stand out among tech advancers(9:48 am ET)
SAN FRANCISCO (MarketWatch) -- Tech stocks put in a mixed early trading performance Wednesday, with Priceline.com Inc. (PCLN: news, chart, profile) among the advancers. Priceline's shares rose 4.5%, to $708, after the company reported upbeat quarterly results late Tuesday. Among sector bellwethers, Apple Inc. (AAPL: news, chart, profile) was down almost 1%, at $445.18, in advance of the company's annual shareholder meeting. The Nasdaq Composite Index ($COMPQ: news, chart, profile) rose 7 points, to 3,136, while the Philadelphia Semiconductor Index ($SOX: news, chart, profile) was up by 0.6%.
DineEquity earnings fall, beating estimates(8:31 am ET)
NEW YORK (MarketWatch) -- DineEquity Inc. (DIN: news, chart, profile) , the owner of Applebee's and IHOP restaurants, said fourth-quarter profit fell to $18.8 million, or 97 cents a share, from $28.6 million, or $1.51 a share, a year earlier. The latest adjusted earnings were 83 cents per share. The Glendale, Calif.-based company said quarterly revenue fell to $158.6 million from $242.2 million in the year-ago period. Analysts polled by FactSet had expected earnings of 78 cents a share. The company also announced a first-quarter cash dividend of 75 cents per share and a $100 million share buyback program. DineEquity will pay the dividend on March 29 to stockholders of record on March 15.
Dollar Tree profit rises(7:57 am ET)
NEW YORK (MarketWatch) -- Dollar Tree Inc. (DLTR: news, chart, profile) said Wednesday that fourth-quarter profit rose to $228.6 million, or $1.01 a share, from $187.9 million, or 80 cents a share, a year earlier. The operator of discount stores reported quarterly revenue of $2.25 billion compared with $1.95 billion in the year-ago quarter. Analysts polled by FactSet had expected earnings of 99 cents a share and revenue of $2.22 billion. The fourth quarter ended Feb. 2 was 14 weeks compared to a year-ago quarter of 13 weeks. The Chesapeake, Va.-based company expects first-quarter 2013 sales to range from $1.84 billion to $1.89 billion with earnings per share of 53 cents to 58 cents. FactSet's survey is looking for first-quarter profit of 58 cents a share on sales of $1.86 billion.
ITT Corp. swings to a quarterly profit(7:31 am ET)
NEW YORK (MarketWatch) -- ITT Corp. (ITT: news, chart, profile) said it swung to a fourth-quarter profit of $32.4 million, or 35 cents a share, from a loss of $529 million, or $5.68 a share, in the year-ago period. The manufacturer focused on energy, transport and other markets reported a rise in quarterly revenue to $554.3 million from $509.9 million a year earlier. The latest adjusted earnings were 37 cents per share. Analysts polled by FactSet had expected earnings of 37 cents a share. ITT said it expects adjusted earnings per share to rise 10% in 2013 to the range of $1.80 to $1.90 and predicts 2013 revenue growth of 9% to 11%. The White Plains, NY-based company also said it planned to raise its dividend by 10% to 10 cents a share and will repurchase up to $75 million of shares.
Tuesday, Feb. 26
Papa John's to restate some results after review (6:09 pm ET)
LOS ANGELES (MarketWatch) -- Papa John's International Inc. (PZZA: news, chart, profile) plans to restate certain financial results following a review of accounting for previously existing joint venture arrangements, according to a filing by the pizza maker with the U.S. Securities and Exchange Commission on Tuesday. Financial reports for 2009, 2010 and 2011 and for the first three quarters of 2012 will be restated. Net income for the yearly statements were among the metrics that were affected, with diluted earnings for 2009 reduced by 13 cents a share to $1.93 a share. Earnings for 2010 were raised by 3 cents a share to $1.99 a share, and 2011 earnings were cut by 4 cents a share to $2.16 a share. Total revenue or compliance with debt covenants were among the metrics that weren't affected by the corrections, said Papa John's.
First Solar shares clubbed by outlook(4:30 pm ET)
SAN FRANCISCO (MarketWatch) -- First Solar (FSLR: news, chart, profile) shares sank 7% to $28.94 in after-hours trade Tuesday on a weaker-than-expected outlook for sales and cash flow. For the first quarter, First Solar projected sales in the range of $650 million to $750 million. Analysts polled by FactSet were looking for $822 million. First Solar pegged operating cash flow at breakeven to up to $100 million. Analysts were estimating $214 million. First Solar, which a year ago changed its business model to focus on developing solar farms, had seen its stock run up the past six months. The company's fourth-quarter results also came in shy of consensus. For the fourth quarter, First Solar said it earned $1.74 a share on revenue of $1.1 billion. Analysts had projected a profit of $1.75 a share on revenue of $1.3 billion, FactSet data shows. First Solar plans to offer its 2013 guidance at its April 6 analyst day.
Priceline earnings rise 28% to $289 million(4:05 pm ET)
SAN FRANCISCO (MarketWatch) -- Priceline.com Inc. (PCLN: news, chart, profile) on Tuesday reported a fourth-quarter profit of $289 million, or $5.63 a share, on revenue of $1.19 billion. During the same period a year ago, the online travel reservation company earned $226 million, or $4.41 a share. Excluding one-time items, Priceline would have earned $349 million, or $6.77 a share. The results topped the estimates of analysts surveyed by FactSet, who forecast Priceline to earn $6.53 a share on $1.19 billion in sales.
AMC Networks drops 10% on profit miss(10:31 am ET)
SAN FRANCISCO (MarketWatch) -- Shares of AMC Networks (AMCX: news, chart, profile) slid 10% to $52.31 in Tuesday morning trade. The cable television provider posted an adjusted fourth-quarter profit of 21 cents a share, well below the 64 cents-a- share analysts on average had forecast, FactSet data shows. Profit was dragged down by a debt repayment and higher expenses. AMC's operating margin ticked down to 22% from 23% in the year-earlier quarter. Revenue for the quarter rose 8%. AMC shares were trading near 52-week highs before the report. The stock is still up 15% over the past 12 months.
Vitamin Shoppe shares tumble 17% on weaker sales(9:48 am ET)
SAN FRANCISCO (MarketWatch) -- Shares of Vitamin Shoppe (VSI: news, chart, profile) tumbled 17% to $52.55 early Tuesday morning after the retailer missed Wall Street's target for comparable store sales in the fourth quarter. Comparable store sales grew 5.2%. Analysts polled by FactSet had estimated 6.3%. The quarter marked Vitamin Shoppe's weakest quarterly growth rate for comparable store sales since 2010. New Jersey-based Vitamin Shoppe, which ended 2012 with 579 stores and has been expanding its business in recent years, said Hurricane Sandy hurt sales. Investors have been bullish on Vitamin Shoppe, whose stock was trading near 52-week highs ahead the fourth-quarter earnings report. For this year, the company did maintain its forecast for comparable store sales to grow in the "mid-single digits."
AutoZone profit rises 5.6%; same-store sales fall (7:19 am ET)
NEW YORK (MarketWatch) -- AutoZone Inc. said on Tuesday fiscal second-quarter profit rose to $176.2 million, or $4.78 per diluted share, from $166.9 million, or $4.15 per share, a year earlier. The company reported revenue of $1.86 billion compared with $1.8 billion in the year-ago quarter. Quarterly domestic same-store sales fell 1.8%. "We were not pleased with our same store sales results for the quarter," said Bill Rhodes, chief executive officer, attributing the results to a delay in the processing of income-tax returns. The company said it expects sales to rebound in the next quarter.
RadioShack swings to loss in Q4, misses views(7:01 am ET)
LONDON (MarketWatch) -- RadioShack Corp. (RSH: news, chart, profile) said on Tuesday it swung to a loss of $63 million, or 63 cents a share, in the fourth quarter down from a profit of $12 million, or 12 cents a share, in the same period last year. Total sales inched down to $1.3 billion compared to $1.39 billion last year, while same-store sales dropped 7%, hurt by a decline in the mobility and consumer electronics platforms. Operating income slumped 45% to $17 million. Analysts surveyed by FactSet expected a loss of 6 cents a share on revenue of $1.36 billion. "We have taken a number of significant steps to better position the company for the transformation of our business," said Dorvin D. Lively, executive vice president and chief financial officer in the financial statement. "We increased our liquidity by issuing $175 million of new financing which will refinance nearly half of the 2013 debt maturity, and we repurchased a significant portion of this maturity at a discount in 2012."
Home Depot beats Q4 estimates, lifts dividend(6:30 am ET)
LONDON (MarketWatch) -- Home Depot Inc. (HD: news, chart, profile) said Tuesday that profit for the fourth-quarter rose to $1 billion, or 68 cents a share, up from $774 million, or 50 cents a share, in the same quarter last year. Sales grew 13.9% to $18.2 billion in the quarter, while same-store sales picked up 7%. Analysts surveyed by FactSet expected earnings of 64 cents a share on sales of $17.7 billion. The Atlanta-based home-improvement retailer further said it'll raise its quarterly dividend 34% to 39 cents a share. For 2013, the company said it sees sales growth about 2% and an expansion in operating margin of 65 basis points. Earnings per share after an anticipated share buyback are expected to improve 12% to $3.37 for the full year.
Monday, Feb. 25
Autodesk profit rises, but outlook weak(4:35 pm ET)
SAN FRANCISCO (MarketWatch) - Autodesk Inc. (ADSK: news, chart, profile) on Monday reported a fiscal fourth-quarter profit of $74.5 million, or 32 cents a share, compared with a profit of $72 million, or 31 cents a share, for the year-earlier period. Revenue rose to $606.9 million from $592.4 million. Adjusted profit was 53 cents a share. Analysts polled by FactSet on average were expecting the company to report a profit of 49 cents a share, on revenue of $586.8 million. For the current quarter, Autodesk expects revenue in the range of $570 million to $590 million, and adjusted profit of 41 cents to 46 cents a share. Analysts were expecting a profit of 51 cents a share, on revenue of $588.7 million. Shares of Autodesk were down 4% in after-hours trading.
Lowe's Q4 net off 11%; sets buyback up to $5B(6:34 am ET)
TEL AVIV (MarketWatch) -- Lowe's Cos., (LOW: news, chart, profile) the Mooresville, N.C., home-improvement retailer, reported on Monday that fiscal-fourth-quarter net income fell 11% on 5% lower sales, and it authorized a stock buyback of as much as $5 billion. For the quarter ended Feb. 1, Lowe's earned $288 million compared with $322 million in the year-earlier quarter. Earnings per share were 26 cents in both periods as shares outstanding declined 10% to 1.1 billion. Revenue fell to $11.05 billion from $11.63 billion. A survey of analysts by FactSet produced consensus estimates of earnings of 23 cents a share on sales of $10.85 billion.
Friday, Feb. 22
Washington Post Co. swings to quarterly loss(9:07 am ET)
NEW YORK (MarketWatch) -- The Washington Post Co. (WPO: news, chart, profile) said Friday that it swung to a fourth-quarter loss of $45.4 million, or $6.57 per diluted share, from a year-ago profit of $61.7 million, or $8.03 per share. The company said operating revenues rose to $1.05 billion from $1.04 billion a year earlier.
Thursday, Feb. 21
TI ups dividend by 33%; adds $5B to buyback(4:44 pm ET)
SAN FRANCISCO (MarketWatch) -- Texas Instruments Inc. (TXN: news, chart, profile) said Thursday afternoon that is has hiked its quarterly dividend by 33% to 28 cents a share. The dividend is payable on May 20 to shareholders of record on April 30. The chip maker also said it was adding $5 billion to its authorized share buyback program, bringing the total outstanding authorization of the program to $8.4 billion. "These increases reflect the company's ability to generate cash and management's commitment to return it to shareholders," TI said in a statement. The company's shares were flat in after-hours trading after closing down 1.8% to $32.48 in the regular session.
Nordstrom posts 20% higher profit (4:29 pm ET)
SAN FRANCISCO (MarketWatch) -- Nordstrom Inc. (JWN: news, chart, profile) reported late Thursday its fourth-quarter profit rose to $284 million, or $1.40 a share, from $236 million, or $1.11 a share, a year ago. Revenue for the three months ended Feb. 2 rose 13.5% to $3.6 billion from $3.17 billion. Analysts polled by FactSet had expected the Seattle-based department-store chain to post earnings of $1.35 a share on $3.6 billion in revenue. Gross margin was unchanged from a year earlier, hampered by higher costs tied to its Fashion Rewards program, while same-store sales rose 6.3%. Nordstrom shares fell as much as 2.8% to $53 in after-hours trade.
Marvell shares rise after hours on upbeat results(4:23 pm ET)
SAN FRANCISCO (MarketWatch) -- Marvell Technology Group Ltd. (MRVL: news, chart, profile) shares rose 4.5% in after-hours trading Thursday after the company reported a fiscal fourth-quarter profit of $50 million, or 9 cents a share, on $775 million in revenue. During the same period a year ago, Marvell earned $81 million, or 13 cents a share, on revenue of $743 million. Excluding one-time items, the chipmaker would have earned $104 million, or 19 cents a share. Analysts surveyed by FactSet had forecast Marvell to earn 13 cents a share on sales of $721 million. For its fiscal first quarter, Marvell forecast earning excluding one-time items of 12 cents to 16 cents a share, on revenue in a range of $700 million to $740 million, while analysts had earlier estimated Marvell would earn 13 cents a share on $708.2 million in revenue.
H-P shares rise on beat, forecast(4:15 pm ET)
SAN FRANCISCO (MarketWatch) -- Shares of Hewlett-Packard Co. (HPQ: news, chart, profile) jumped nearly 6% in after-hours trades on Thursday afternoon, after the struggling high-tech giant handily beat Wall Street's estimates with its results for the first fiscal quarter. H-P also projected earnings-per-share in the range of 80-82 cents on an adjusted basis for the current period. Analysts had been expecting earnings of 77 cents a share. The stock had already jumped 2.4% in the regular session on Thursday to close at $17.10 prior to the report.
Intuit reports 40% decline in earnings(4:14 pm ET)
SAN FRANCISCO (MarketWatch) -- Intuit Inc. (INTU: news, chart, profile) on Thursday reported a fiscal second-quarter profit of $71 million, or 23 cents a share, on revenue of $968 million, compared with earnings of $118 million, or 39 cents a share, on $999 million in sales in the same period a year ago. Excluding one-time items, Intuit would have earned 33 cents a share. Analysts surveyed by FactSet had forecast Intuit to earn 32 cents a share on $976.5 million in revenue. For its fiscal third-quarter, Intuit forecast earnings excluding one-time items of $2.99 to $3.04 a share on sales of $2.22 billion to $2.28 billion.
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Salesforce.com reports $20.8 million loss(4:23 pm ET)
SAN FRANCISCO (MarketWatch) -- Salesforce.com Inc. (CRM: news, chart, profile) on Thursday reported a fourth-quarter loss of $20.8 million, or 14 cents a share, on revenue of $835 million, compared with a loss of $4.1 million, or 3 cents a share, on $632 million in sales in the year-ago quarter. Excluding one-time items, the cloud-based business-software company would have have earned 51 cents a share. Analysts surveyed by FactSet had forecast Salesforce to earn 40 cents a share on $830.8 million in revenue. For its first-quarter, Salesforce estimates it will earn between 40 cents and 42 cents a share. excluding one-time items, on sales of $882 million to $887 million.
Fed's Raskin calls for focus on banks' reputation(12:30 pm ET)
WASHINGTON (MarketWatch) - The risk to a bank that it might suffer losses as a result of a decline in its reputation in the community should receive greater focus from federal bank regulators, said Federal Reserve Governor Susan Bloom Raskin on Thursday. Currently, banks and examiners tend to focus on handling reputational threats that have already surfaced, Raskin said in a speech to a banking-outlook conference sponsored by the Federal Reserve Bank of Atlanta. "This is not risk management, this is crisis management," Raskin said. The share of each deposit dollar that banks lent hit a post-financial crisis low in the third quarter, Raskin noted, making achieving higher earnings a challenge. As a result, pressure on banks to hike fees is "palpable," but a bank with a poor reputation may suffer further criticism and damage, she noted. "So an evaluation of the effects of the new product or activity on the bank's reputation prior to launch [of a fee hike] is arguably necessary," Raskin said.
Groupon shares plunge on outlook, ratings cuts(9:50 am ET)
SAN FRANCISCO (MarketWatch) -- Groupon Inc. (GRPN: news, chart, profile) shares plunged 27% to $4.24 Thursday in the wake of the online daily deal company's disappointing quarterly results and outlook. On Wednesday, Groupon reported a fourth-quarter loss of 12 cents a share, or 5 cents a share excluding one-time items. Analysts surveyed by FactSet had forecast Groupon to earn 3 cents a share. Groupon also gave a first-quarter sales outlook that fell short of Wall Street analysts' estimates. Several analysts cut their ratings on Groupon's stock, with Bank of America/Merrill Lynch analyst Justin Post cut his rating on Groupon's stock to underperform from neutral, mostly due to concerns about the company's lower gross margins. Groupon's share-price drop triggered a short-sell circuit breaker on the Nasdaq stock exchange.
Groupon falls 27% after surprise earnings miss(7:40 am ET)
NEW YORK (MarketWatch) -- Shares of Groupon Inc. (GRPN: news, chart, profile) fell 27% on Thursday in premarket trading. The company, which provides daily deals online, reported a surprise fourth-quarter loss on Wednesday and forecast first-quarter revenue that was less than expected. The company said its loss widened to $81.1 million, or 12 cents a share, in the fourth quarter from a year-ago loss of $65.4 million, or 12 cents a share. Quarterly revenue rose to $638.3 million from $492 million last year. Analysts polled by FactSet had expected earnings of 3 cents a share and revenue of about $640 million. Groupon was downgraded to a market perform rating from outperform by Wells Fargo on Thursday.
Sears Holdings Q4 loss narrowed; adjusted net up(6:33 am ET)
TEL AVIV (MarketWatch) -- Sears Holdings Corp., (SHLD: news, chart, profile) the Hoffman Estates, Ill., retailer, reported a narrower fiscal-fourth-quarter loss and stronger-than-expected adjusted earnings. For the quarter ended Feb. 2, the loss narrowed to $489 million, or $4.61 a share, from $2.4 billion, or $22.63, in the year-earlier quarter. Adjusted earnings from continuing operations more than doubled to $1.12 a share from 54 cents. Sales totaled $12.26 billion compared with $12.48 billion. A survey of analysts by FactSet produced consensus estimates of profit of 98 cents a share on sales of $11.77 billion. Sears Holdings reported U.S. same-store sales off 1.6%.
Wednesday, Feb. 27
Hong Kong stocks climb, led by coal miners(8:49 pm ET)
HONG KONG (MarketWatch) -- Hong Kong stocks Thursday advanced on the back of solid gains in the coal-mining and property sectors, cheering Federal Reserve Chairman Ben Bernanke's commitment to continuing an ultra-easy monetary policy. The Hang Seng Index (HK:HSI: news, chart, profile) added 0.8% to 22,766.97 and the Hang Seng China Enterprises Index gained 1.1% to 11,266.59. China Coal Energy Co. (CCOZY: news, chart, profile) (HK:1898: news, chart, profile) and China Shenhua Energy Co. (CSUAY: news, chart, profile) (HK:1088: news, chart, profile) , two of the worst performing constituents of the Hang Seng Index in February, led the advance on the last day of the month, rising 3% and 2.5%, respectively. Also posting strong gains in the wake of upbeat earnings reports, New World Development Co. (NDVLY: news, chart, profile) (HK:17: news, chart, profile) rose 3.3% to extend the previous day's advance, while Sino Land Co. (SNLAY: news, chart, profile) (HK:83: news, chart, profile) gained 2.8%. China's Shanghai Composite (CN:SHCOMP: news, chart, profile) added 0.1% to 2,315.94.
Victoria's Secret parent posts 14% profit increase(5:19 pm ET)
SAN FRANCISCO (MarketWatch) -- Victoria's Secret owner Limited Brands (LTD: news, chart, profile) said it earned a profit of $411 million, or $1.39 a share, in the fourth quarter. That compares with a profit of $359 million, or $1.17 a share, in the same 2011 period. Adjusted for goodwill charges, Limited said its profit was $1.76 a share, compared with $1.50 in the year-ago quarter. Sales rose 10% to $3.9 billion during the quarter ended Feb. 2, while comparable store sales increased 5%. Gross margin widened to 44.5% from 43.4%. For 2013, Limited expects full-year earnings between $2.92 and $3.12 a share. First-quarter earnings were pegged in the range of 40 cents to 45 cents a share. Limited shares fell 1% to $44.08 in after-hours trade.
Groupon's loss, outlook sink shares in after hours(4:13 pm ET)
SAN FRANCISCO (MarketWatch) -- Groupon Inc. (GRPN: news, chart, profile) on Wednesday reported a fourth-quarter loss of $81.1 million, or 12 cents a share, on revenue of $638.3 million, compared with a loss of $65.4 million, or 12 cents a share, on $492 million in sales in the same period a year ago. Groupon said its results included a loss of 7 cents a share related to a non-operational item. Analysts surveyed by FactSet had forecast Groupon to earn 3 cents a share on revenue of almost $640 million. For its first quarter, Groupon forecast revenue between $560 million and $610 million, while analysts forecast sales of $646.8 million. Groupon's shares plunged 28% in after-hours trading following the release of its results.
Priceline gains stand out among tech advancers(9:48 am ET)
SAN FRANCISCO (MarketWatch) -- Tech stocks put in a mixed early trading performance Wednesday, with Priceline.com Inc. (PCLN: news, chart, profile) among the advancers. Priceline's shares rose 4.5%, to $708, after the company reported upbeat quarterly results late Tuesday. Among sector bellwethers, Apple Inc. (AAPL: news, chart, profile) was down almost 1%, at $445.18, in advance of the company's annual shareholder meeting. The Nasdaq Composite Index ($COMPQ: news, chart, profile) rose 7 points, to 3,136, while the Philadelphia Semiconductor Index ($SOX: news, chart, profile) was up by 0.6%.
DineEquity earnings fall, beating estimates(8:31 am ET)
NEW YORK (MarketWatch) -- DineEquity Inc. (DIN: news, chart, profile) , the owner of Applebee's and IHOP restaurants, said fourth-quarter profit fell to $18.8 million, or 97 cents a share, from $28.6 million, or $1.51 a share, a year earlier. The latest adjusted earnings were 83 cents per share. The Glendale, Calif.-based company said quarterly revenue fell to $158.6 million from $242.2 million in the year-ago period. Analysts polled by FactSet had expected earnings of 78 cents a share. The company also announced a first-quarter cash dividend of 75 cents per share and a $100 million share buyback program. DineEquity will pay the dividend on March 29 to stockholders of record on March 15.
Dollar Tree profit rises(7:57 am ET)
NEW YORK (MarketWatch) -- Dollar Tree Inc. (DLTR: news, chart, profile) said Wednesday that fourth-quarter profit rose to $228.6 million, or $1.01 a share, from $187.9 million, or 80 cents a share, a year earlier. The operator of discount stores reported quarterly revenue of $2.25 billion compared with $1.95 billion in the year-ago quarter. Analysts polled by FactSet had expected earnings of 99 cents a share and revenue of $2.22 billion. The fourth quarter ended Feb. 2 was 14 weeks compared to a year-ago quarter of 13 weeks. The Chesapeake, Va.-based company expects first-quarter 2013 sales to range from $1.84 billion to $1.89 billion with earnings per share of 53 cents to 58 cents. FactSet's survey is looking for first-quarter profit of 58 cents a share on sales of $1.86 billion.
ITT Corp. swings to a quarterly profit(7:31 am ET)
NEW YORK (MarketWatch) -- ITT Corp. (ITT: news, chart, profile) said it swung to a fourth-quarter profit of $32.4 million, or 35 cents a share, from a loss of $529 million, or $5.68 a share, in the year-ago period. The manufacturer focused on energy, transport and other markets reported a rise in quarterly revenue to $554.3 million from $509.9 million a year earlier. The latest adjusted earnings were 37 cents per share. Analysts polled by FactSet had expected earnings of 37 cents a share. ITT said it expects adjusted earnings per share to rise 10% in 2013 to the range of $1.80 to $1.90 and predicts 2013 revenue growth of 9% to 11%. The White Plains, NY-based company also said it planned to raise its dividend by 10% to 10 cents a share and will repurchase up to $75 million of shares.
Tuesday, Feb. 26
Papa John's to restate some results after review (6:09 pm ET)
LOS ANGELES (MarketWatch) -- Papa John's International Inc. (PZZA: news, chart, profile) plans to restate certain financial results following a review of accounting for previously existing joint venture arrangements, according to a filing by the pizza maker with the U.S. Securities and Exchange Commission on Tuesday. Financial reports for 2009, 2010 and 2011 and for the first three quarters of 2012 will be restated. Net income for the yearly statements were among the metrics that were affected, with diluted earnings for 2009 reduced by 13 cents a share to $1.93 a share. Earnings for 2010 were raised by 3 cents a share to $1.99 a share, and 2011 earnings were cut by 4 cents a share to $2.16 a share. Total revenue or compliance with debt covenants were among the metrics that weren't affected by the corrections, said Papa John's.
First Solar shares clubbed by outlook(4:30 pm ET)
SAN FRANCISCO (MarketWatch) -- First Solar (FSLR: news, chart, profile) shares sank 7% to $28.94 in after-hours trade Tuesday on a weaker-than-expected outlook for sales and cash flow. For the first quarter, First Solar projected sales in the range of $650 million to $750 million. Analysts polled by FactSet were looking for $822 million. First Solar pegged operating cash flow at breakeven to up to $100 million. Analysts were estimating $214 million. First Solar, which a year ago changed its business model to focus on developing solar farms, had seen its stock run up the past six months. The company's fourth-quarter results also came in shy of consensus. For the fourth quarter, First Solar said it earned $1.74 a share on revenue of $1.1 billion. Analysts had projected a profit of $1.75 a share on revenue of $1.3 billion, FactSet data shows. First Solar plans to offer its 2013 guidance at its April 6 analyst day.
Priceline earnings rise 28% to $289 million(4:05 pm ET)
SAN FRANCISCO (MarketWatch) -- Priceline.com Inc. (PCLN: news, chart, profile) on Tuesday reported a fourth-quarter profit of $289 million, or $5.63 a share, on revenue of $1.19 billion. During the same period a year ago, the online travel reservation company earned $226 million, or $4.41 a share. Excluding one-time items, Priceline would have earned $349 million, or $6.77 a share. The results topped the estimates of analysts surveyed by FactSet, who forecast Priceline to earn $6.53 a share on $1.19 billion in sales.
AMC Networks drops 10% on profit miss(10:31 am ET)
SAN FRANCISCO (MarketWatch) -- Shares of AMC Networks (AMCX: news, chart, profile) slid 10% to $52.31 in Tuesday morning trade. The cable television provider posted an adjusted fourth-quarter profit of 21 cents a share, well below the 64 cents-a- share analysts on average had forecast, FactSet data shows. Profit was dragged down by a debt repayment and higher expenses. AMC's operating margin ticked down to 22% from 23% in the year-earlier quarter. Revenue for the quarter rose 8%. AMC shares were trading near 52-week highs before the report. The stock is still up 15% over the past 12 months.
Vitamin Shoppe shares tumble 17% on weaker sales(9:48 am ET)
SAN FRANCISCO (MarketWatch) -- Shares of Vitamin Shoppe (VSI: news, chart, profile) tumbled 17% to $52.55 early Tuesday morning after the retailer missed Wall Street's target for comparable store sales in the fourth quarter. Comparable store sales grew 5.2%. Analysts polled by FactSet had estimated 6.3%. The quarter marked Vitamin Shoppe's weakest quarterly growth rate for comparable store sales since 2010. New Jersey-based Vitamin Shoppe, which ended 2012 with 579 stores and has been expanding its business in recent years, said Hurricane Sandy hurt sales. Investors have been bullish on Vitamin Shoppe, whose stock was trading near 52-week highs ahead the fourth-quarter earnings report. For this year, the company did maintain its forecast for comparable store sales to grow in the "mid-single digits."
AutoZone profit rises 5.6%; same-store sales fall (7:19 am ET)
NEW YORK (MarketWatch) -- AutoZone Inc. said on Tuesday fiscal second-quarter profit rose to $176.2 million, or $4.78 per diluted share, from $166.9 million, or $4.15 per share, a year earlier. The company reported revenue of $1.86 billion compared with $1.8 billion in the year-ago quarter. Quarterly domestic same-store sales fell 1.8%. "We were not pleased with our same store sales results for the quarter," said Bill Rhodes, chief executive officer, attributing the results to a delay in the processing of income-tax returns. The company said it expects sales to rebound in the next quarter.
RadioShack swings to loss in Q4, misses views(7:01 am ET)
LONDON (MarketWatch) -- RadioShack Corp. (RSH: news, chart, profile) said on Tuesday it swung to a loss of $63 million, or 63 cents a share, in the fourth quarter down from a profit of $12 million, or 12 cents a share, in the same period last year. Total sales inched down to $1.3 billion compared to $1.39 billion last year, while same-store sales dropped 7%, hurt by a decline in the mobility and consumer electronics platforms. Operating income slumped 45% to $17 million. Analysts surveyed by FactSet expected a loss of 6 cents a share on revenue of $1.36 billion. "We have taken a number of significant steps to better position the company for the transformation of our business," said Dorvin D. Lively, executive vice president and chief financial officer in the financial statement. "We increased our liquidity by issuing $175 million of new financing which will refinance nearly half of the 2013 debt maturity, and we repurchased a significant portion of this maturity at a discount in 2012."
Home Depot beats Q4 estimates, lifts dividend(6:30 am ET)
LONDON (MarketWatch) -- Home Depot Inc. (HD: news, chart, profile) said Tuesday that profit for the fourth-quarter rose to $1 billion, or 68 cents a share, up from $774 million, or 50 cents a share, in the same quarter last year. Sales grew 13.9% to $18.2 billion in the quarter, while same-store sales picked up 7%. Analysts surveyed by FactSet expected earnings of 64 cents a share on sales of $17.7 billion. The Atlanta-based home-improvement retailer further said it'll raise its quarterly dividend 34% to 39 cents a share. For 2013, the company said it sees sales growth about 2% and an expansion in operating margin of 65 basis points. Earnings per share after an anticipated share buyback are expected to improve 12% to $3.37 for the full year.
Monday, Feb. 25
Autodesk profit rises, but outlook weak(4:35 pm ET)
SAN FRANCISCO (MarketWatch) - Autodesk Inc. (ADSK: news, chart, profile) on Monday reported a fiscal fourth-quarter profit of $74.5 million, or 32 cents a share, compared with a profit of $72 million, or 31 cents a share, for the year-earlier period. Revenue rose to $606.9 million from $592.4 million. Adjusted profit was 53 cents a share. Analysts polled by FactSet on average were expecting the company to report a profit of 49 cents a share, on revenue of $586.8 million. For the current quarter, Autodesk expects revenue in the range of $570 million to $590 million, and adjusted profit of 41 cents to 46 cents a share. Analysts were expecting a profit of 51 cents a share, on revenue of $588.7 million. Shares of Autodesk were down 4% in after-hours trading.
Lowe's Q4 net off 11%; sets buyback up to $5B(6:34 am ET)
TEL AVIV (MarketWatch) -- Lowe's Cos., (LOW: news, chart, profile) the Mooresville, N.C., home-improvement retailer, reported on Monday that fiscal-fourth-quarter net income fell 11% on 5% lower sales, and it authorized a stock buyback of as much as $5 billion. For the quarter ended Feb. 1, Lowe's earned $288 million compared with $322 million in the year-earlier quarter. Earnings per share were 26 cents in both periods as shares outstanding declined 10% to 1.1 billion. Revenue fell to $11.05 billion from $11.63 billion. A survey of analysts by FactSet produced consensus estimates of earnings of 23 cents a share on sales of $10.85 billion.
Friday, Feb. 22
Washington Post Co. swings to quarterly loss(9:07 am ET)
NEW YORK (MarketWatch) -- The Washington Post Co. (WPO: news, chart, profile) said Friday that it swung to a fourth-quarter loss of $45.4 million, or $6.57 per diluted share, from a year-ago profit of $61.7 million, or $8.03 per share. The company said operating revenues rose to $1.05 billion from $1.04 billion a year earlier.
Thursday, Feb. 21
TI ups dividend by 33%; adds $5B to buyback(4:44 pm ET)
SAN FRANCISCO (MarketWatch) -- Texas Instruments Inc. (TXN: news, chart, profile) said Thursday afternoon that is has hiked its quarterly dividend by 33% to 28 cents a share. The dividend is payable on May 20 to shareholders of record on April 30. The chip maker also said it was adding $5 billion to its authorized share buyback program, bringing the total outstanding authorization of the program to $8.4 billion. "These increases reflect the company's ability to generate cash and management's commitment to return it to shareholders," TI said in a statement. The company's shares were flat in after-hours trading after closing down 1.8% to $32.48 in the regular session.
Nordstrom posts 20% higher profit (4:29 pm ET)
SAN FRANCISCO (MarketWatch) -- Nordstrom Inc. (JWN: news, chart, profile) reported late Thursday its fourth-quarter profit rose to $284 million, or $1.40 a share, from $236 million, or $1.11 a share, a year ago. Revenue for the three months ended Feb. 2 rose 13.5% to $3.6 billion from $3.17 billion. Analysts polled by FactSet had expected the Seattle-based department-store chain to post earnings of $1.35 a share on $3.6 billion in revenue. Gross margin was unchanged from a year earlier, hampered by higher costs tied to its Fashion Rewards program, while same-store sales rose 6.3%. Nordstrom shares fell as much as 2.8% to $53 in after-hours trade.
Marvell shares rise after hours on upbeat results(4:23 pm ET)
SAN FRANCISCO (MarketWatch) -- Marvell Technology Group Ltd. (MRVL: news, chart, profile) shares rose 4.5% in after-hours trading Thursday after the company reported a fiscal fourth-quarter profit of $50 million, or 9 cents a share, on $775 million in revenue. During the same period a year ago, Marvell earned $81 million, or 13 cents a share, on revenue of $743 million. Excluding one-time items, the chipmaker would have earned $104 million, or 19 cents a share. Analysts surveyed by FactSet had forecast Marvell to earn 13 cents a share on sales of $721 million. For its fiscal first quarter, Marvell forecast earning excluding one-time items of 12 cents to 16 cents a share, on revenue in a range of $700 million to $740 million, while analysts had earlier estimated Marvell would earn 13 cents a share on $708.2 million in revenue.
H-P shares rise on beat, forecast(4:15 pm ET)
SAN FRANCISCO (MarketWatch) -- Shares of Hewlett-Packard Co. (HPQ: news, chart, profile) jumped nearly 6% in after-hours trades on Thursday afternoon, after the struggling high-tech giant handily beat Wall Street's estimates with its results for the first fiscal quarter. H-P also projected earnings-per-share in the range of 80-82 cents on an adjusted basis for the current period. Analysts had been expecting earnings of 77 cents a share. The stock had already jumped 2.4% in the regular session on Thursday to close at $17.10 prior to the report.
Intuit reports 40% decline in earnings(4:14 pm ET)
SAN FRANCISCO (MarketWatch) -- Intuit Inc. (INTU: news, chart, profile) on Thursday reported a fiscal second-quarter profit of $71 million, or 23 cents a share, on revenue of $968 million, compared with earnings of $118 million, or 39 cents a share, on $999 million in sales in the same period a year ago. Excluding one-time items, Intuit would have earned 33 cents a share. Analysts surveyed by FactSet had forecast Intuit to earn 32 cents a share on $976.5 million in revenue. For its fiscal third-quarter, Intuit forecast earnings excluding one-time items of $2.99 to $3.04 a share on sales of $2.22 billion to $2.28 billion.
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