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ER Friday, April 12

Wall St. banks open lower after JP Morgan results(9:43 am ET)
SAN FRANCISCO (MarketWatch) - Wall Street bank stocks fell at the open on Friday after J.P. Morgan Chase [S: JPM] and Wells Fargo [S: WFC], two of the nation's biggest banks, reported quarterly financial results. J.P. Morgan reported profit that beat analyst estimates and a decline in revenue. Wells Fargo also beat estimates and reported lower revenue than in the year-earlier period. J.P. Morgan shares dipped 0.9%, while Wells Fargo shares fell 1.3%. Citigroup [S: C], Bank of America [S: BAC], Goldman Sachs [S:GS]and Morgan Stanley (MS: news, chart, profile) shares were also lower shortly after the open.

Wells Fargo profit up 22% from year ago(8:15 am ET)
NEW YORK (MarketWatch) -- Wells Fargo & Co. (WFC: news, chart, profile) said on Friday its first-quarter profit increased 22% to $5.2 billion, or 92 cents per share, from $4.25 billion in profit or 75 cents in the same period a year earlier. The nation's biggest mortgage lender reported a total net revenue of $21.3 billion, down from $21.6 billion the year earlier. Analysts expected Wells Fargo to earn 89 cents a share on revenue of $21.6 billion, according to a survey by FactSet. "Loans and deposits demonstrated continued growth in a challenging economic environment," said Wells Fargo Chief Executive John Stumpf in a statement. Wells Fargo shares were down 1.1% in premarket trading.

J.P. Morgan 1Q net income up 33% from year ago(7:26 am ET)
NEW YORK (MarketWatch) -- J.P. Morgan Chase & Co. (JPM: news, chart, profile) said Friday its first-quarter profit increased to $6.5 billion or $1.59 a share, compared with $4.9 billion in profit or $1.31 per share in the year-earlier period. Total net revenue fell to $25.8 billion, compared with $26.8 billion in the prior year. Analysts expected J.P. Morgan to earn $1.39 a share on revenue of $25.7 billion, according to a survey by FactSet. The bank reported strong performance across its business lines, with investment-banking revenue at $3 billion, up 15% from $2.6 billion the same period a year earlier. Mortgage originations rose 3% in the first quarter from the quarter before. Loan growth across the industry has been softer this quarter, although year-on-year growth remained strong, said J.P. Morgan's Chief Executive Jamie Dimon in a statement. J.P. Morgan shares were down 0.4% in premarket trading.
Thursday, April 11

Rite Aid swings to a profit in the fourth quarter(7:20 am ET)
NEW YORK (MarketWatch) -- Rite Aid Corp. (RAD: news, chart, profile) said Thursday it swung to a profit of $123.1 million, or 13 cents a share, in the fiscal fourth quarter from a year-ago loss of $161.3 million, or 18 cents a share. Analysts polled by FactSet had expected earnings per share of 0 cents. Quarterly revenue fell to $6.46 billion from $7.15 billion a year ago, as generic products impacted pharmacy sales. The period was one week shorter than a year ago. Rite Aid said it expects fiscal 2014 revenue of $24.9 billion to $25.3 billion. It also gave a broad range for 2014 net income, expecting between $45 million and $200 million.
Wednesday, April 10

Ruby Tuesday shares fall on weaker earnings(4:59 pm ET)
SAN FRANCISCO (MarketWatch) -- Ruby Tuesday Inc. (RT: news, chart, profile) shares fell as much as 3% in after-hours trade Wednesday after the restaurant chain reported fiscal third-quarter results that came in below analysts' expectations. For the three months ended March 5, 2013, net profit fell to of $4.7 million, or 8 cents a share, from $6.9 million, or 11 cents a share, a year ago. Adjusted to exclude one-time items, the profit was 10 cents a share. Analysts surveyed by FactSet had been expecting an adjusted profit of 11 cents a share. Revenue for the quarter fell to $307.3 million from $320.7 million, also less than the $311.9 million analysts expected. Same-store sales fell 2.8% from a year ago. Ruby Tuesday shares were last down 2.6% at $7.95, cutting into a 3.8% rise for the stock since the start of the year.

Constellation 4Q EPS falls short of expectation(8:23 am ET)
NEW YORK (MarketWatch) -- Constellation Brands (STZ: news, chart, profile) said Wednesday its fourth-quarter net income fell 21% to $82 million, compared to $103 million the year before. Earnings per share were 43 cents a share, compared to 45 cents a share expected by analysts surveyed by FactSet. The wine-maker reported sales rose 11% to $696 million, from a year earlier. Looking ahead, the company expects earnings per share to be in the $2.55-$2.85 range, compared to analysts' estimates of $2.78 a share. "For the wine and spirits business, we believe our positive marketplace momentum and continuing focus on innovation, brand building and sales execution positions us to grow volume at least in-line with the U.S. wine and spirits category and generate favorable product mix in fiscal 2014," said Rob Sands, president and chief executive officer, Constellation Brands.

Family Dollar second-quarter profit falls short(7:18 am ET)
NEW YORK (MarketWatch) -- Family Dollar Stores Inc. (FDO: news, chart, profile) said Wednesday fiscal second-quarter net income rose to $140.1 million, or $1.21 a share, from $136.4 million, or $1.15 a share, a year ago. Analysts had expected earnings of $1.22 a share. Quarterly net sales rose to $2.89 billion from a year-ago figure of $2.46 billion. The Matthews, N.C.-based retailer said it expects fiscal 2013 earnings per share of between $3.73 and $3.93, compared with fiscal 2012's $3.58, and expects comparable store sales to rise 3% to 4%.
Friday, April 5

F5's warning drags down networking stocks(9:48 am ET)
SAN FRANCISCO (MarketWatch) -- Networking-equipment stocks tumbled in early trading Friday following a F5 Networks Inc. (FFIV: news, chart, profile) cutting its second-quarter revenue forecast. F5 shares fell more than 20%, to as low as $71.95 after the company said late Thursday that it expects to report earnings excluding one-time items of $1.06 to $1.07 a share, on revenue of $350.2 million for the quarter. The company had earlier forecast earnings of between $1.21 and $1.24 a share on sales in a range of $370 million to $380 million. F5 blamed the shortfall on weak bookings in North America. F5's warning dragged on other networkers, with Juniper Networks Inc. (JNPR: news, chart, profile) down more than 5%, Cisco Systems Inc. (CSCO: news, chart, profile) off by 3% and Finisar Corp. (FNSR: news, chart, profile) shares giving up 6% in early trading.
Wednesday, April 3

Monsanto 2Q earnings beat Wall St expectations(8:25 am ET)
NEW YORK (MarketWatch) -- Monsanto Co. (MON: news, chart, profile) said Wednesday its second-quarter earnings rose to $2.74 a share, from $2.24 a share a year earlier. Wall Street analysts expected the company to earn $2.56 a share, according to a survey by FactSet. Net income rose to $1.48 billion from $1.21 billion. Net sales climbed 15% to $5.5 billion, driven by a 16% increase in sales from its global corn business. The agriculture firm raised its full-year ongoing earnings-per-share guidance to $4.40 to $4.50. Full-year 2013 EPS guidance on an as-reported basis is expected in the range of $4.42 to $4.52 per share. Monsanto shares were up nearly 1% in premarket trading.

ConAgra quarterly profit drops, forecast affirmed(7:43 am ET)
NEW YORK (MarketWatch) -- ConAgra Foods Inc. (CAG: news, chart, profile) said Wednesday its fiscal 2013 third-quarter earnings fell 57.2% to $120 million, or 29 cents a share, from $280.1 million, or 68 cents a share, a year earlier. Adjusted earnings were 55 cents a share. Analysts had expected quarterly earnings of 56 cents a share. Quarterly net sales were $3.85 billion compared with a year-ago figure of $3.4 billion. The company reiterated its full-year adjusted-earnings forecast of about $2.15 per share and announced a dividend of 25 cents a share payable on May 31 to stockholders as of April 30. Shares were down 2.8%.
Tuesday, April 2

Fannie Mae reports record $17.2 billion in profits(9:21 am ET)
WASHINGTON (MarketWatch) -- Federally-backed mortgage buyer Fannie Mae reported record profits Tuesday morning, recording its first annual net income since 2006, led by better credit results and revenue. For 2012, Fannie Mae (FNMA: news, chart, profile) reported net income of $17.2 billion, compared with a loss of $16.9 billion in the prior year. Meanwhile, net revenues rose to $23 billion in 2012 from $20.4 billion in 2011. Looking forward, company officials said they expect "strong" annual net income in the next few years on improving credit quality and higher guaranty fees. Fannie said it was not releasing its valuation allowance, which was $58.9 billion at the end of last year, on deferred tax assets.
Thursday, March 28

Blackberry shines as tech sector opens lower(9:45 am ET)
SAN FRANCISCO (MarketWatch) -- Blackberry (BBRY: news, chart, profile) shares rose 4% to $15.21 in opening trades Thursday after the phone maker reported a of $98 million. Blackberry's revenue and shipments did come in below the consensus analyst forecast, however. Red Hat (RHT: news, chart, profile) shares slumped 3% to $48.28 after its fell shy of Wall Street's estimate. Paychex (PAYX: news, chart, profile) fell 1% to $34.26 following its latest results. Overall, the broader technology sector edged lower in opening trades. Tech stocks are poised to end the first quarter with a gain. The Morgan Stanley High-Tech Index (MSH: news, chart, profile) is up 7% so far for the quarter that ends today, while the Philadelphia Semiconductor Index (SOX: news, chart, profile) is up 13%. By comparison, the Nasdaq Composite is up 8% for the quarter.