Replies to post #287 on Earning Plays

[3xBuBu]

Monday, Feb. 4
CORRECT: Yum Brands profit holds steady(7:20 pm ET)
SAN FRANCISCO (MarketWatch) -- Fast-food giant Yum Brands Inc. (YUM: news, chart, profile) reported late Monday fourth-quarter net income of $231 million, or 44 cents a share, nearly unchanged from $232 million, or 42 cents, a year ago. Total revenue at the Louisville, Ky.-based company came in at $3.26 billion, up 8%. Same-store sales, or those at outlets open at least a year, climbed 3% worldwide. The average estimate had been for the company to earn 42 cents a share on revenue of $3.14 billion, according to analysts polled by Thomson Financial. Looking to the current year, Yum raised its 2008 profit target from $1.82 to $1.85 per share, excluding one-time gains. Yum shares ended trading Monday up 1.6% at $35.81.(Corrects revenue and estimated revenue figures.)
News Corp: Fox won't abandon upfront(5:22 pm ET)
CHICAGO (MarketWatch) -- News Corp. (NWS.A: news, chart, profile) (NWS: news, chart, profile) Chief Operating Officer Peter Chernin said Monday that Fox will not abandon the traditional "upfront" presentation it makes to advertisers each May to sell commercial time for the fall season. "We believe the upfront is a valuable way to interact with our advertisers ... and frankly from a market point of view is a good opportunity for them to plan their spending in advance for the year," Chernin told analaysts during News Corp.'s quarterly earnings call. The executive said the network will probably make fewer pilot films for prospective TV shows, as it was looking for ways to take "waste" out of the development process even before the Writers Guild of America strike began nearly three months ago.
Murdoch: No intention of bidding on Yahoo(5:10 pm ET)
CHICAGO (MarketWatch) -- News Corp. (NWS.A: news, chart, profile) (NWS: news, chart, profile) Chairman Rupert Murdoch said Monday that the company has no intention of making a bid for Yahoo Inc. (YHOO: news, chart, profile) following Microsoft's (MSFT: news, chart, profile) $44.6 billion bid last week. "We are not interested at this stage," Murdoch told analysts.
News COO: Fox sees no signs of ad slowdown(5:07 pm ET)
CHICAGO (MarketWatch) -- News Corp. (NWS.A: news, chart, profile) (NWS: news, chart, profile) Chief Operating Officer Peter Chernin told analysts Monday that the Fox television network is seeing no signs of an advertising slowdown, despite a struggling economy. Ad rates are up by a double-digit percentage compared with this time a year ago at both Fox Broadcasting and at the company's cable networks, led by Fox News Channel, Chernin said. Earlier during Monday's quarterly earnings call, News Corp. Chairman Rupert Murdoch said Fox's Sunday night telecast of Super Bowl XLII generated $250 million in gross revenue for Fox and its television stations, the biggest one-day haul in News Corp.'s history. The game drew more than 97.5 million viewers, according to Nielsen Media Research's overnight measurement of the largest U.S. television markets, making it likely to be the most-watched Super Bowl ever.
Synchronoss Tech earnings jump 63% in fourth quarter(4:21 pm ET)
SAN FRANCISCO (MarketWatch) -- Synchronoss Technologies Inc. (SNCR: news, chart, profile) said earnings jumped 63% in the fourth quarter. The company, which provides transaction management services to telecommunications carriers such as AT&T, reported net income of $6.6 million, or 20 cents a share, compared to net income of $4.05 million, or 12 cents a share, for the same period last year. The company said non-GAAP earnings would have totaled $7.2 million, or 22 cents a share, for the period. Revenue grew 79% to $36.4 million. Analysts were expecting earnings of 20 cents a share on revenue of $35.65 million, according to Thomson Financial.
Principal Financial quarterly net income falls 85%(4:17 pm ET)
SAN FRANCISCO (MarketWatch) -- Principal Financial Group (PFG: news, chart, profile) said late Monday that fourth-quarter net income came in at $42.4 million, down 85% from a year earlier when the 401K specialist made $292.4 million. Net income available to common shareholders was 13 cents a share vs. $1.04 a share a year earlier. The results included net realized and unrealized capital losses of $211.5 million, of which more than $50 million was related to the subprime mortgage crisis, Principal explained. Operating income, which excludes that $211.5 million hit, came in at $225.8 million, or 86 cents a share, in the period. Principal was expected to make $1.01 a share, according to the average estimate of 14 analysts in a Thomson Financial survey.
News Corp. posts flat second-quarter profit (4:15 pm ET)
CHICAGO (MarketWatch) -- Rupert Murdoch's News Corp. reported Monday that fiscal second-quarter profit was about flat with that of a year earlier, as improved results at its broadcast and cable television operations were partially offset by lower income at its TV and movie production studios. The New York-based media conglomerate (NWS: news, chart, profile) (NWS.A: news, chart, profile) said it earned $832 million, or 27 cents a share, compared with a profit of $822 million, or 26 cents a share in the second quarter of 2007. Revenue rose nearly 10% to $8.59 billion. News Corp. was expected to have earned 28 cents a share on $8.25 billion in revenue, according to the average of analysts' estimates as compiled by Thomson Financial.
Energy stocks mixed as crude gains(9:37 am ET)
NEW YORK (MarketWatch) -- Energy stocks traded mixed Monday following earnings reports from Exxon Mobil (XOM: news, chart, profile) and Chevron (CVX: news, chart, profile) in the previous session. The Amex Oil Index (XOI: news, chart, profile) fell 0.2% to 1,382. The Amex Natural Gas Index (XNG: news, chart, profile) rose 0.2% to 554. Ethanol maker Archer Daniels Midland (ADM: news, chart, profile) fell 1% to $45.10 after its earnings update Monday. Exxon Mobil (XOM: news, chart, profile) rose 5 cents to $86, but Chevron (CVX: news, chart, profile) subtracted 6 cents to $82.43. Crude prices rose 25 cents to $89.21.
Wrigley net income climbs 20%(9:12 am ET)
NEW YORK (MarketWatch) -- The Wm. Wrigley Jr. Company (WWY: news, chart, profile) on Monday said fourth-quarter net income rose 20% to $155 million, or 56 cents a share, from $128.8 million, or 46 cents a share in the year-ago period. Revenue rose to $1.42 billion from $1.22 billion. Analysts surveyed by Thomson Financial forecast earnings of 53 cents a share and revenue of $1.38 billion, on average. The Chicago-based confection maker OK'd a new 800 million stock repurchase plan.
Wrigley net income climbs 20%(9:13 am ET)
NEW YORK (MarketWatch) -- The Wm. Wrigley Jr. Company (WWY: news, chart, profile) on Monday said fourth-quarter net income rose 20% to $155 million, or 56 cents a share, from $128.8 million, or 46 cents a share in the year-ago period. Revenue rose to $1.42 billion from $1.22 billion. Analysts surveyed by Thomson Financial forecast earnings of 53 cents a share and revenue of $1.38 billion, on average. The Chicago-based confection maker OK'd a new 800 million stock repurchase plan.
Potlatch Corp. net income falls as revenue rises(8:43 am ET)
NEW YORK (MarketWatch) -- Potlatch Corp. (PCH: news, chart, profile) on Monday said fourth-quarter net income fell to $11.2 million, or 28 cents a share, from $45.3 million or $1.16 a share in the year-ago period. Earnings from continuing operations fell to 28 cents a share from $1.22 a share. Revenue rose to $417 million from $388 million. Analysts surveyed by Thomson Financial forecast earnings of 47 cents a share and revenue of $409.5 million, on average.
Wendy's net income rises, revenue flat(8:05 am ET)
NEW YORK (MarketWatch) -- Wendy's International Inc. (WEN: news, chart, profile) on Monday said fourth-quarter net income rose to $14.1 million, or 16 cents a share, from $3 million, or 3 cents a share in the year-ago period. Adjusted net income rose to 21 cents a share from 14 cents a share. Revenue fell 0.5% to $524 million. The Dublin, Ohio fast food company was expected to earn 23 cents a share on revenue of $592.4 million, on average.
Evergreen Solar files 20 million share common stock offering(7:49 am ET)
NEW YORK (MarketWatch) -- Evergreen Solar (ESLR: news, chart, profile) on Monday filed to sell 20 million shares of its stock. Based on the company's closing price of $12.21 a share on Friday, the offering will raise about $244 million.
Humana profit grows 57%, tops forecasts on lower tax rate(6:19 am ET)
LONDON (MarketWatch) -- Health benefits group Humana Inc. (HUM: news, chart, profile) said Monday that its fourth-quarter net profit rose 57% to $243.2 million, or $1.43 a share, from $155 million, or 92 cents a share, a year earlier. Revenue for the period rose 12.1% to $6.34 billion. Earnings per share were above the company's previous guidance and the $1.32 consensus of analysts polled by Thomson Financial, largely because of a lower-than-expected tax rate and gains on the sale of a venture capital investment. The company also raised its earnings forecast for 2008 to reflect the lower tax rate, saying it now expects to earn $5.35 to $5.55 a share.
CORRECT: Ryanair's adjusted profit down 27%(2:55 am ET)
LONDON (MarketWatch) -- Ryanair Holdings Plc (UK:RYA: news, chart, profile) (RYA: news, chart, profile) , Europe's largest low-cost airline, on Monday said third-quarter net profit slipped to 47.2 million euros from 47.7 million euros. Excluding a one-time gain of 12 million euros on the disposal of some aircraft, adjusted profit for the quarter fell 27% to 35 million euros, or 2.35 euros a share. Sales climbed 16% to 569 million euros, boosted by a strong rise in ancillary revenue. Yields, also known as ticket prices, fell 4%. Looking ahead, Ryanair confirmed its outlook for full-year profit of roughly 470 million euros. For the next fiscal-year though, the airline said high fuel prices and fear of recession in the U.K. and many other European economies mean the current outlook is 'poor.' Ryanair also said it remains unhedged for next year, which will result in significantly higher costs. (Corrected to reflect that yields fell.)
Wolfson's quarterly profit, sales rise; sees solid growth (2:38 am ET)
LONDON (MarketWatch) -- Wolfson Microelectronics Plc (UK:WLF: news, chart, profile) , a supplier of chips used in consumer electronic products, on Monday said fourth-quarter net profit rose 24% to $9.9 million, or 8.4 cents a share, from $8 million, or 6.7 cents a share, a year earlier. Revenue climbed 36% to $71.6 million. The company said it expects first-quarter sales up 10% to 20% in a range of $44 million to $48 million and gross margin to be stable at 52% to 53%. Wolfson said it sees solid growth in 2008 despite uncertain market conditions.
Sunday, Feb. 3
JFE Holdings to report $470 million yen extraordinary loss(8:42 pm ET)
HONG KONG (MarketWatch) -- Japanese steelmaker JFE Holdings (JP:5411: news, chart, profile) will post about 50 billion yen ($470 million) in extraordinary losses from its garbage treatment plant business in the year ending March 31, reported the Nikkei business daily Monday, without citing a source. The loss will be announced when JFE declares its quarterly results later on Monday, it added. The steel major may also lower its fiscal year group net profit forecast from 320 billion yen, said the report. JFE's shares recently fell 0.2% in Tokyo trading.
Friday, Feb. 1
Exxon Mobil eyes Brazil, Iraq, record profit impact(12:45 pm ET)
NEW YORK (MarketWatch) -- Exxon Mobil (XOM: news, chart, profile) vice president Henry Hubble said the oil and gas giant has been developing 19 new projects to boost future production. Exxon is actively looking for oil and gas reserves in Brazil in the wake of a big find by Petrobras (PBR: news, chart, profile) . "We're in the same area," he said. Exxon said it's been in talks with officials in Iraq, but that any development in the country is, "a ways down the road." Asked about scrutiny from politicians about its record-setting profit, Hubble said, "Our industry has always been the focus of attention and I doubt that will change. What we hope is people will focus on the challenge that not only our commpany but the industry is facing. Demand is expeted to increase 30% over the next two decades. The challenge is how do we meet that demand."
Chevron reiterates production target despite '08 blip(12:14 pm ET)
NEW YORK (MarketWatch) -- Chevron (CVX: news, chart, profile) on Friday said it expects to produce about 2.65 million barrels of oil equivalent in 2008, down from its earlier projection of 2.8 million barrels. About 95,000 to 100,000 barrels of the reduction comes from capital project delays such as the Tahiti project in the Gulf of Mexico. Chevron stood by its 2005-2010 forecast of increasing its production by an annual rate of 3%. "We're very confident that over the next couple of years, we're going to be able to increase production and achieve that production growth rate," Chevron CFO Steve Crowe said on an analyst conference call.
Exxon eyes Venezuela talks, Gulf discovery, Africa projects(11:58 am ET)
NEW YORK (MarketWatch) -- Exxon Mobil (XOM: news, chart, profile) vice president Henry Hubble said the oil giant hopes to return to the table with the Venezuelan government to talk about oil production, but for now the oil giant is awaiting arbitration proceedings over the issue, he said on a conference call with analysts. He declined to give a production outlook for 2008 at this time, but said updates will be issued to Wall Street in coming weeks. He said the oil giant expects to assess the size of a discovery at the Julia project in the Gulf of Mexico in the first quarter and that projects in Angola and Qatar remain on schedule. Exxon continues to focus on more efficient drilling, which has reached about $4 billion in spending, he said.
CORRECT: Agilysys third-quarter net tumbles 90%(11:54 am ET)
NEW YORK (MarketWatch) -- Agilysys Inc. (AGYS: news, chart, profile) said third-quarter net income fell 90% to $1.96 million, or 7 cents a share, from $20 million, or 64 cents, a year earlier, due in part to unanticipated one-time expenses associated with acquisitions. The Boca Raton, Fla., enterprise computer systems provider, said revenue for the quarter ended Dec. 31 rose to $250.1 million from $151.5 million a year earlier. Analysts polled by Thomson Financial, on average, projected earnings of 20 cents a share on revenue of $214 million. Agilysys backed its guidance for annual sales of $780 million to $800 million. Full-year gross margin is expected to remain at about 23.5% of sales. (Corrects company location and description.)
Horizon Lines fourth-quarter earnings rise(9:45 am ET)
NEW YORK (MarketWatch) -- Horizon Lines Inc.'s (HRZ) fourth-quarter net income rose to $10.7 million, or 32 cents a share, from $10.6 million, or 31 cents a share, a year earlier, due in part to managing costs and introducing complementary services to customers. A Thomson Financial survey of analysts, on average, predicted earnings of 31 cents a share for the quarter. Analysts' predictions exclude certain items. The Charlotte, N.C., container shipping company said operating revenue rose to $316 million from $287.5 million a year ago. The company said fourth-quarter earnings were in line with expectations. Horizon Lines expects 2008 operating revenue of $1.35 billion to $1.37 billion, and anticipates earnings of $2.01 to $2.26 a share.
Public Service Enterprise swings to fourth-quarter profit (9:43 am ET)
NEW YORK (MarketWatch) -- Public Service Enterprise Group Inc. (PEG: news, chart, profile) swung to a fourth-quarter profit of $224 million, 88 cents a share, from a year-earlier loss of $47 million, or 18 cents a share. Income from continuing operations grew 67% to $226 million, or 89 cents a share, from $135 million, or 54 cents a share, a year earlier. On average, analysts polled by Thomson Financial expected earnings of 91 cents a share. The Newark, N.J., energy company also backed its 2008 operating earnings guidance of $5.60 to $6.10 a share.
Energy stocks move lower after Exxon, Chevron earnings(9:38 am ET)
NEW YORK (MarketWatch) -- Energy stocks dipped along with the Dow Jones Industrial Average ($DJ: news, chart, profile) as traders weighed earnings increases from Exxon (XOM: news, chart, profile) and Chevron (CVX: news, chart, profile) , a buyout offer for Yahoo (YHOO: news, chart, profile) , a weak jobs report and lower oil prices. Exxon (XOM: news, chart, profile) fell 26 cents to $86.14 after posting a 14% profit increase. Chevron (CVX: news, chart, profile) dipped 20 cents to $83.05. Crude oil for March delivery dropped 79 cents to $90.96 a barrel on the New York Mercantile Exchange. The Amex Oil Index (XOI: news, chart, profile) fell 0.2% to 1,367. The Amex Natural Gas Index (XNG: news, chart, profile) subtracted 0.2% to 543.
Exxon Mobil, Chevron up in pre-market trades after earnings(9:03 am ET)
NEW YORK (MarketWatch) -- Exxon Mobil (XOM: news, chart, profile) rose 1.6% to $87.82 in pre-market trades Friday after the No. 1 oil giant beat Wall Street forecasts with a 14% jump in fourth-quarter net income. Chevron (CVX: news, chart, profile) gained 2% to $84.95 after it reported a 29% higher profit.
MF Global's adjusted third-quarter income rises(8:25 am ET)
NEW YORK (MarketWatch) -- Exchange-listed futures and options broker MF Global Ltd. (MF: news, chart, profile) reported Friday that its third-quarter net income fell to $31.2 million, or 26 cents a share, from $55.4 million, or 53 cents a share, a year ago. Adjusted third-quarter net income increased 62% to $46.7 million from $28.9 million, or 37 cents per share, in the third quarter of 2007. Third-quarter volume jumped 47% year-over-year to 495.8 million contracts, with net revenue up 29% to $418 million from the same period last year. "Global market volatility caused by economic and financial uncertainty continues to benefit MF Global across all of our asset classes including interest rates, equities, commodities, fixed income and foreign exchange," Chief Executive Officer Kevin Davis said in a company statement.
Beazer Homes shuts mortgage unit, end building in 5 markets(8:24 am ET)
NEW YORK (MarketWatch) -- Beazer Homes USA Inc., (BZH: news, chart, profile) the Atlanta homebuilder, said it would stop writing mortgages through a unit, stop building homes in five markets, and enter marketing partnerships with Countrywide Financial Corp. (CFC: news, chart, profile) and St. Joe Co. (JOE: news, chart, profile) Beazer will discontinue mortgage-origination services through Beazer Mortgage Corp. And it will end its relationship with Homebuilders Financial Network LLC. Instead, it will market Countrywide, the Calabasas, Calif., mortgage company, to buyers of Beazer homes as the preferred mortgage provider. Beazer will take charges, which it can't yet calculate, as it ends the Beazer Mortgage operation. After reviewing its markets to determine where best to put its resources, Beazer said, the company will exit home-building operations in Charlotte, N.C., Cincinnati/Dayton and Columbus, Ohio, Columbia, S.C., and Lexington, Ky. It said it will complete all homes that it's currently building in those markets and will determine how to dispose of its land holdings there. At June 30, 2007, Beazer had committed some 5% of its home-building assets in those markets. It'll take charges for closing these operations as well. And Beazer said it will enter the Northwest Florida market in cooperation with St. Joe, the Jacksonville, Fla., real-estate company. The companies already work together, with St. Joe selling home sites to Beazer.
Nymex fourth-quarter income rises(7:12 am ET)
NEW YORK (MarketWatch) -- Nymex Holdings Inc. (NMX: news, chart, profile) said Friday that fourth-quarter net income rose to $63.5 million, or 67 cents a share, from $42.3 million, or 48 cents a share, a year earlier. Operating revenue rose to $172.6 million from $124.8 million. On average, analysts surveyed by Thomson Financial forecast earnings of 66 cents a share and revenue of $171.9 million. The parent company of the New York Mercantile Exchange said that average daily volume in the fourth quarter was 1.54 million contracts, up 28% from a year ago.
Ingersoll Rand to postpone Q4 earnings report until Feb 14(7:08 am ET)
NEW YORK (MarketWatch) -- Ingersoll-Rand Co. (IR: news, chart, profile) said Friday it plans to delay the release of its 2007 fourth-quarter and full-year earnings results until Feb. 14. The Bermuda-based company said the delay was primarily caused by year-end closing activity associated with the Nov. 30 divestiture of its Compact Equipment business and that the extended reporting schedule is required to complete the preparation of year-end financial statements.
Ericsson net drops 42%, to cut 1,000 jobs(2:39 am ET)
LONDON (MarketWatch) -- Telefon AB LM Ericsson (ERIC: news, chart, profile) Friday said net profit plunged 42% to SEK5.64 billion ($886.7 million) in the three months ended Dec. 31 from SEK9.73 billion in 2006, meeting analyst expectations of SEK5.60 billion, and said it sees a "flattish" mobile infrastructure market in 2008. The Sweden-based company also said it targets some SEK4 billion in annual savings to take full effect in 2009, while one-time charges will be SEK4 billion to be booked as changes are made. Also in attempt to trim costs and regain profitability, some 1,000 workers would be cut in Sweden.

[Ithildriel]

Are you playing CSCO earnings? Will they go down like all the other techs have lately after earnings?

[3xBuBu]

Wednesday, Feb. 6
Sunoco swings to loss on weak refining margins (6:32 pm ET)
SAN FRANCISCO (MarketWatch) -- Independent oil refiner Sunoco Inc. (SUN: news, chart, profile) reported late Wednesday a fourth-quarter loss of $9 million, or 8 cents a share, hurt by sharply higher crude-oil prices. It posted net income of $123 million, or $1 a share, in the year-ago period. Excluding one-time items, Sunoco's operating income for the quarter was $23 million, or 20 cents a share. Revenue for the three months ended Dec. 31 rose to $13.16 billion from $9.04 billion. Analysts surveyed by Thomson Financial predicted the Philadelphia-based company would hand in earnings of 39 cents a share on $8.5 billion in revenue. Sunoco shares fell 1.6% ahead of the report to close at $58.70.
Cisco shares fall on disappointing revenue forecast(5:09 pm ET)
SAN FRANCISCO (MarketWatch) -- Cisco Systems Inc. saw its shares drop more than 8% in after-hours trading Wednesday after the company issued a lower-than-expected revenue forecast for its third fiscal quarter, citing the slowing economy. In a conference call to discuss the company's (CSCO: news, chart, profile) second quarter results, CEO John Chambers said the company expects revenue for the April quarter to grow 10% from the previous year. That equates to revenue of about $9.8 billion, lower than the $10.19 billion expected by analysts for the period, according to Thomson Financial. Chambers said order-growth rates in the month of January were below expectations, leading the company to be cautious about the outlook for the next few months.
Endurance quarterly net income falls 23%(4:40 pm ET)
SAN FRANCISCO (MarketWatch) -- Endurance Specialty Holdings (ENH: news, chart, profile) said late Wednesday that fourth-quarter net income came in at $152.5 million, or $2.18 per common share, down 23% from a year earlier when the Bermuda-based reinsurer made $198.8 million, or $2.70 per common share. Operating income, which excludes after-tax realized investment gains and losses and foreign exchange gains and losses, was $160.7 million, or $2.30 per common share, the company reported. Endurance was expected to make $1.73 a share, according to the average estimate of 11 analysts in a Thomson Financial survey.
WMS Industries profit jumps 31% (4:37 pm ET)
SAN FRANCISCO (MarketWatch) -- Gambling machine maker WMS Industries (WMS: news, chart, profile) , bolstered by strong gains internationally, reported late Wednesday fiscal second-quarter net income rose to $16 million, or 27 cents a share, from $12.2 million, or 22 cents, a year ago. Revenue for the three months ended Dec. 31 rose 18% to $159.2 million from $134.6 million. Analysts polled by Thomson Financial had expected the Waukegan, Ill.-based company to post earnings of 25 cents a share on $148.5 million in revenue. The company raised its full-year revenue forecast to $620 million to $632 million from $595 million to $615 million previously. WMS Industries shares rose 1.8% to close at $36 ahead of the report.
Metlife reports quarterly net income of $1.08 billion(4:32 pm ET)
SAN FRANCISCO (MarketWatch) -- Metlife Inc. (MET: news, chart, profile) said late Wednesday that fourth-quarter net income came in at $1.08 billion, or $1.44 per common share. The life insurer made $3.8 billion, or $4.95 a share, a year earlier, but that was buoyed by a $3 billion one-time investment gain from the sale of Peter Cooper Village and Stuyvesant Town in New York, the company noted. Without that, Metlife would have made $829 million, or $1.07 a share, during the fourth quarter of 2006. Operating earnings available to common shareholders was $1.21 billion, or $1.60 a share, during the most recent quarterly period, Metlife said. The company was expected to make $1.43 a share, according to the average estimate of 17 analysts in a Thomson Financial poll.
Prudential Financial quarterly net falls 11%(4:25 pm ET)
SAN FRANCISCO (MarketWatch) -- Prudential Financial (PRU: news, chart, profile) said late Wednesday that fourth-quarter net income came in at $792 million, or $1.75 per common share, down 11% from a year earlier when the life insurer made $893 million, or $1.88 per common share. After-tax adjusted operating income was $729 million, or $1.61 per common share, the company reported. Prudential was expected to make $1.88 a share, according to the average estimate of 16 analysts in a Thomson Financial survey. After-tax adjusted operating income for the full year 2008 will likely be $7.50 to $7.80 per common share, Prudential added.
EDS earnings slip almost 13%(4:20 pm ET)
SAN FRANCISCO (MarketWatch) -- Electronic Data Systems Corp. (EDS: news, chart, profile) on Wednesday reported a fourth-quarter profit of $189 million, or 36 cents a share, compared to earnings of $217 million or 40 cents a share, in the year-ago period. Excluding one-time items, the computer services giant would have earned $295 million, or 55 cents a share, on revenue of $5.83 billion. By that measure, analysts surveyed by Thomson Financial had forecast EDS to earn 57 cents a share on $5.88 billion in sales.
Cisco earnings up nearly 11% for second quarter(4:10 pm ET)
SAN FRANCISCO (Marketwatch) - Cisco Systems Inc. reported that earnings for the second fiscal quarter grew 10.5%, in line with Wall Street's estimates. For the quarter ended Jan. 26, the company reported net income of $2.1 billion, or 33 cents per share, compared to net income of $1.9 billion, or 31 cents per share, for the same period last year. On a non-GAAP basis, Cisco said it would have earned $2.4 billion, or 38 cents per share, for the recent quarter. Revenue grew nearly 17% to $9.8 billion. Analysts were expecting earnings of 38 cents a share on revenue of $9.79 billion, according to consensus forecasts from Thomson Financial.
Macy's lowers 2008 sales outlook, sets 2,550 layoffs(3:03 pm ET)
SAN FRANCISCCO (MarketWatch) -- Macy's Inc. (M: news, chart, profile) , struggling with weak sales and a sluggish economy, said Wednesday it is launching a massive consolidation of its retail districts, effective immediately. The plan also calls for laying off about 2,550 workers by the end of the second quarter. The company, citing a "challenging economic environment", also widened its estimated same-store sales outlook, predicting they would come in somewhere between a decline of 1% to a gain of 1.5% from a year ago. The company said it sees earnings for the full year of $1.85 to $2.15 a share, excluding one-time items. Macy's shares were down 3.5% in late trade.
Time Warner CFO: AOL ad growth slowdown has explanation(11:40 am ET)
CHICAGO (MarketWatch) -- After Time Warner Inc.'s (TWX: news, chart, profile) AOL unit reported its third straight quarter of declining advertising growth, Chief Financial Officer John Martin told analysts the slowdown has to do with industry trends and certain strategic decisions made by AOL management. Ad revenue at AOL grew 10% in the fourth quarter to $620 million after increasing by 13% in the third quarter and 16% in the second quarter. But Martin said one reason for this is that ad demand is continuing to shift to third-party networks. Another factor is that AOL discontinued a number of "non-profitable sponsorship initiatives." Further, there were fewer ads purchased by broadband providers, said Martin. In the fourth quarter of 2006, AOL generated $25 million in ad revenue that did not recur in 2007, according to Martin. In the first quarter of 2008, AOL expects ad revenue to be "essentially flat and down slightly" compared to the same quarter a year ago.
Polo Ralph Lauren shares jump 11% on strong earnings(11:30 am ET)
SAN FRANCISCO (MarketWatch) -- Polo Ralph Lauren (RL: news, chart, profile) shares jumped 11% in late morning trading Wednesday on its latest quarterly results. But one analyst warned investors not to read anything into the apparel maker's fiscal third-quarter profit of $1.08 a share, which outpaced Wall Street's expectations of 77 cents. Polo beat analyst expectations on "discrete tax items" that cut its corporate tax rate. "The company never gave quarterly guidance and management is not positioning this as a beat," wrote Thomas Weisel analyst Liz Dunn, who rates Polo shares a hold. Polo did say its operating margins will decline 250 basis points in its fiscal year ending in March. On top of that, Polo's preliminary 2009 profit forecast "is much weaker than consensus," Dunn added. Polo's stock climbed to $63.66, up $6.20.
Time Warner CEO: Cost cuts to lift margins(11:23 am ET)
CHICAGO (MarketWatch) -- Time Warner Inc. (TWX: news, chart, profile) Chief Executive Jeff Bewkes said Wednesday that the company is implementing a series of cost cuts designed to lift profit margins, starting with a 15% cost reduction at Time Warner's corporate offices. That cut will slash the company's corporate run rate by more than $50 million a year, Bewkes said on the quarterly earnings call. There will also be reduced costs at movie unit New Line Cinema. "With fewer movie releases across the industry and given the greater purpose of overseas revenues, there is an obvious question of whether it makes sense for us to have two completely separate studio infrastructures at Warner [Bros.] and New Line," Bewkes said. "So we're reviewing how to operate New Line more efficiently, and expect to take action fairly soon."
Time Warner CEO: To split AOL access biz from ad platform(11:15 am ET)
CHICAGO (MarketWatch) -- Time Warner Inc. (TWX: news, chart, profile) Chief Executive Jeff Bewkes said Wednesday that the world's largest media company intends to separate AOL's Internet access business from the advertising platform driven by AOL.com. "We need to complete AOL's business model transition, and we're working on separating AOL's access and ad businesses so we can run them independently. This should significantly increase AOL's strategic options," Bewkes said during the quarterly earnings call.
Time Warner CEO: Cable structure 'less than optimal'(11:08 am ET)
CHICAGO (MarketWatch) -- Time Warner Inc. (TWX: news, chart, profile) Chief Executive Jeff Bewkes told analysts Wednesday that the company will undertake a "formal process" to change the ownership structure of Time Warner Cable (TWC: news, chart, profile) . On his first quarterly earnings call as CEO of the world's largest media company, Bewkes said the current structure, in which Time Warner owns 84% of the cable company and the remaining 16% is owned by the public, is "less than optimal." He quickly added: "Nobody should think that we lost faith in cable's business prospects. Quite the opposite. We think it's undervalued --substantially undervalued."
Diebold: accounting change boosts revenue; to cut 800 jobs(9:51 am ET)
NEW YORK (MarketWatch) -- Diebold Inc. (DBD: news, chart, profile) estimates a net revenue increase for 2007 and 2006 of about $31 million and $27 million, respectively, due to a change in its revenue accounting method, and said it will cut about 5% of its global work force. Diebold expects 2007 revenue of $2.95 billion, and 2008 revenue growth of 6% to 8% from 2007. However, revenue from years prior to 2006 will decrease by a total of $190 million from the revenue accounting change. The North Canton, Ohio, self-service delivery systems company said it will discontinue the use of "bill and hold" as a method of revenue recognition in its North America and international businesses. Investigations of the company's accounting by the Securities and Exchange Commission and the Department of Justice are continuing, Diebold said. The company anticipates completing its internal review of other accounting items in the first or second quarter. Diebold will reduce it global work force by about 800 full-time positions, primarily in North America, Brazil and Western Europe, as part of its $100 million cost-reduction plan. The company said it is evaluating further global manufacturing realignment in the Americas, and additional supply chain rationalization.
Energy stocks bounce back from bruising losses(9:40 am ET)
NEW YORK (MarketWatch) -- Energy stocks bounced back Wednesday from a big sell-off in the previous session ahead of the latest weekly oil inventory data and on the heels of fresh earnings from Devon (DVN: news, chart, profile) , National Oilwell Varco (NOV: news, chart, profile) and Spectra Energy (SE: news, chart, profile) . The Amex Oil Index (XOI: news, chart, profile) rose 0.9% to 1,331. The Amex Natural Gas Index (XNG: news, chart, profile) advanced 1.2% to 546. National Oilwell Varco gained 2.4% to $63.50. Spectra Energy rose 2.7% to $23.28. Devon Energy rose 2.2% to $86.46.
CORRECT: Sonoco Products' fourth-quarter earnings rise 37%(9:22 am ET)
NEW YORK (MarketWatch) -- Global packaging maker Sonoco (SON: news, chart, profile) on Wednesday reported fourth-quarter net income rose 37% to $54.2 million from $39.5 million during the same period last year. Earnings for the period came in at 54 cents a share, while base earnings, which exclude certain items, were 62 cents a share. On average, analysts polled by Thomson Financial expected earnings of 54 cents a share. Revenue for the quarter was $1.06 billion, meeting analysts' estimates. The company attributed the jump in part to a lower tax rate. Sonoco also credited recent acquisitions and global currency rates as significant factors in its growth. "Sales improved as a result of acquisitions in our Consumer Packaging and Tubes and Cores/Paper segments that added $69 million of revenue, along with the favorable impact of foreign currency rates and higher selling prices," Chief Executive Officer Harris E. DeLoach Jr. said in a company statement. (Adds dateline, base earnings figure.)
Pioneer Natural fourth-quarter net rises (8:57 am ET)
NEW YORK (MarketWatch) -- Pioneer Natural Resources Co.'s (PXD: news, chart, profile) fourth-quarter net income increased to $204.7 million, or $1.72 cents a share, from $27.7 million, or 22 cents a share, the previous year, due in part to income of $1.01 a share from discontinued operations related to the divestiture of Canadian assets. Earnings from continuing operations were 71 cents a share, up from 21 cents a share last year. On average, analysts polled by Thomson Financial expected earnings of 76 cents a share. Analysts estimates usually exclude items. The Irving, Texas, energy company said revenue increased to $530.9 million from $362.7 million a year ago. Pioneer expects first-quarter production of 103,000 to 109,000 barrels of oil equivalent per day. Pioneer also said it added 148 million barrels of oil equivalent in proved reserves in 2007, at an average finding and development cost of $15.40 per BOE. The company replaced 357% of production in 2007 and ended the year with net proved reserves of 964 MMBOE. Additionally, Pioneer said the initial public offering of common units of Pioneer Southwest Energy Partners L.P. has been postponed due to market conditions. The timing of the offering remains uncertain.
Regal Beloit's net, sales rise(8:36 am ET)
BOSTON (MarketWatch) -- Regal Beloit Corp. (RBC: news, chart, profile) Wednesday said fourth-quarter profit rose to $24 million, or 71 cents a share, from $23 million, or 68 cents a share, in the previous year. Net sales climbed 30% to $474.7 million from $366.6 million, the manufacturer said. "The fourth quarter proved to be especially challenging," said Chief Executive Henry Knueppel in the earnings release. The company forecast earnings per share between 92 cents and $1 for the first quarter of 2008. Regal Beloit said its board has authorized the purchase of an addition 1 million shares under the company's existing buyback authorization.
Temple-Inland Inc. net up sharply on items(8:08 am ET)
NEW YORK (MarketWatch) -- Temple-Inland Inc. (TIN: news, chart, profile) said fourth-quarter net income climbed to $1.17 billion, or $10.76 a share, from $103 million, or 96 cents a share in the year-ago period. The latest period included $10.53 a share related to the completion of its transformation plan. Excluding items, net income fell to 23 cents a share from 34 cents a share. Revenue fell to $937 million from $1 billion. Analysts surveyed by Thomson Financial forecast earnings of 14 cents a share on revenue of $989 million, on average.
Cincinnati Financial's net rises 43%(7:48 am ET)
BOSTON (MarketWatch) -- Cincinnati Financial Corp. (CINF: news, chart, profile) Wednesday said its fourth-quarter net income rose to $187 million, or $1.11 a share, from $130 million, or 75 cents a share, in the year-ago period. The property and casualty insurance provider said operating income rose to $179 million, or $1.07 a share, from $122 million, or 70 cents a share. Wall Street analysts surveyed by Thomson Financial had forecast operating income of $124.4 million, or 74 cents a share.
Solera Holdings Q2 EPS 17 cents vs 56-cent loss (7:27 am ET)
NEW YORK (MarketWatch) -- Solera Holdings Inc. (SLH: news, chart, profile) said Wednesday second-quarter earnings were $11 million, or 17 cents a share, compared to a loss of 12 million, or 56 cents a share in the same period a year ago. Revenue was $132.1 million, a 13.6% increase over $116.2 million a year ago. The software for car insurance company raised its 2008 earnings outlook to a range of $68 million to $72 million.
ITT's fourth-quarter income rises(7:25 am ET)
NEW YORK (MarketWatch) -- ITT Corp. (ITT: news, chart, profile) said Wednesday that its fourth-quarter net income rose to $158.3 million, or 86 cents a share, from $140.8 million, or 75 cents a share, in the year-ago period. The White Plains, N.Y.-based defense contractor and industrial conglomerate said that, excluding items, quarterly net income from continuing operations was 94 cents a share, vs. 73 cents a year earlier. Revenue came in at $2.5 billion. On average, analysts surveyed by Thomson Financial expected the company to earn 93 cents a share from continuing operations on about $2.3 billion in revenue. The company also confirmed its outlook for 2008 earnings of $3.80 to $3.95 a share.
Enbridge net income up 45%, boosts dividend by 7%(7:19 am ET)
NEW YORK (MarketWatch) -- Enbridge (ENB: news, chart, profile) said fourth-quarter net income rose 45% to $248.6 million, or 70 cents a share, from $171.1 million, or 50 cents a share in the year-ago period. Adjusted net income at the energy company rose to 56 cents a share from 50 cents a share. The Canadian-based energy transportation specialist boosted its 2008 capital expenditures budget to $3.7 billion, from $2.3 billion. Enbridge increased its quarterly dividend by 7.3% to 33 cents a share. It expects 2008 adjusted earnings of $1.80 to $1.90 a share.
Warner Music swings to loss after taking impairment charge(7:03 am ET)
LONDON (MarketWatch) -- Warner Music Group Corp. (WMG: news, chart, profile) said Wednesday that it swung to a net loss of $16 million, or 11 cents a share, in its fiscal first quarter, from a profit of $18 million, or 12 cents a share, a year ago. The company attributed the loss to an $18 million impairment charge linked to Bulldog Entertainment, an events promoter it bought in May and has since exited. Warner Music said revenue for the period rose 7% to $989 million. Analysts polled by Thomson Financial had forecast earnings of 10 cents a share on revenue of $949 million. Revenue was up 0.7% on a constant currency basis as the shift from physical sales to digital music continued.
Maximus wings to profit, boosts 2008 EPS outlook(6:51 am ET)
LONDON (MarketWatch) -- Maximus (MMS: news, chart, profile) said Wednesday that its first quarter net income was $10.6 million, or 51 cents a share compared to a loss of $10.4 million, or 48 cents a shares a year ago. The company had revenue of $201.9 million in the quarter versus $161 million last year. Maximus said it expects full year 2008 revenue to be in a range of $8850 million to $880 million. It expects full year 2008 EPS in a range of $2.60 to $2.85, which is up from its previous estimate of $2.40 to $2.65.
NeuStar net income climbs on U.S. number portability(6:39 am ET)
LONDON (MarketWatch) -- NeuStar Inc. (NSR: news, chart, profile) said fourth-quarter net income climbed to $29.5 million, or 37 cents a share, from $18.6 million, or 24 cents a share, as revenue climbed 32% to $121.3 million. The company was helped by increases in infrastructure transactions under its contracts to provide telephone number portability services in the United States, its expanded range of DNS services and growth in the use of U.S. Common Short Codes. It expects 2008 earnings per share above $1.29 on revenue over $515 million. Analysts polled by Thomson Financial expected fourth-quarter earnings of 34 cents a share and 2008 EPS of $1.43.
Powell profit up 77%, forecasts further growth(6:30 am ET)
LONDON (MarketWatch) -- Powell Industries Inc. (POWL: news, chart, profile) said Wednesday that its fiscal first-quarter profit rose 77% to $3.6 million, or 32 cents a share, from $2 million, or 18 cents a share. Revenue for the period rose 20% to $147.1 million. The company, which manufactures equipment for the management of electricity, said it's confident that it will be able to achieve "healthy growth" for the foreseeable future. It also forecast 2008 earnings of between $1.65 a share and $1.90 a share.
Tyco Electronics profit jumps, raises 2008 forecast(6:22 am ET)
LONDON (MarketWatch) -- Tyco Electronics (TEL: news, chart, profile) said Wednesday that its fiscal first-quarter net profit jumped to $949 million, or $1.90 a share, from $281 million, or 57 cents a share, a year earlier. Net sales in the quarter ended Dec. 28 rose 18.7% to $3.68 billion. The electronic components group said excluding tax-related gains from adopting a new accounting standard, adjusted earnings from continuing operations rose to 63 cents a share from 50 cents a share. Analysts had been expecting earnings of 57 cents a share on revenue of $3.57 billion. The company said it benefited from strength in international markets, where it generates more than two-thirds of sales. It also raised its earnings outlook for 2008 by 5 cents a share to a range of $2.45 to $2.55 a share.
GLG Partners posts $316 million loss; inflows of $2.9 bln(6:21 am ET)
LONDON (MarketWatch) -- Hedge-fund manager GLG Partners (GLG: news, chart, profile) said it swung to a loss of $315.8 million, or $1.56 a share, after earning $198.7 million, or $1.02 a share. Despite $2.9 billion in inflows during the quarter, the company took a loss of $639 million on its acquisition of Freedom Acquisition Holding, a deal that allowed it to get a U.S. stock-market listing. On an adjusted basis, its profit rose 72% to $127.1 million, or 38 cents a share. "The diversity embedded in our operating model with our spread of alternative and long only offerings across equity, credit, emerging markets, and convertibles continued to work well in the volatile markets of the fall," the company said.

[3xBuBu]

Thursday, Feb. 7
EOG Resources posts 51% higher profit(5:22 pm ET)
SAN FRANCISCO (MarketWatch) -- Oil and natural gas producer EOG Resources Inc. (EOG: news, chart, profile) late Thursday posted fourth-quarter net income of $358 million, or $1.44 a share, up from $237.2 million, or 96 cents a share, a year ago. The gains built on a 10% rise in natural gas production and 11% rise in crude-oil output. Revenue for the three months ended Dec. 31 rose to $1.25 billion from $931.4 million a year ago. Analysts polled by Thomson Financial had forecast the Houston-based company would earn $1.10 a share on $1.14 billion in revenue. Shares of EOG Resouces rose 2.6% to $90.09 ahead of the report. The stock is up 35% over the past 12 months.
Allegheny Energy profit, sales up(4:45 pm ET)
SAN FRANCISCO (MarketWatch) -- Allegheny Energy Inc. (AYE: news, chart, profile) late Thursday said fourth-quarter net income rose 71% to $110.4 million, or 65 cents a share, compared with net income of $64.6 million, or 38 cents a share, a year ago. For the three months ended Dec. 31, revenue rose 7% to $786.3 million, thanks to higher market prices, higher generation rates in Pennsylvania, and increased retail sales. The electric utility serves over 1.5 million customers in Pennsylvania, West Virginia, Maryland and Virginia.
Genworth quarterly net income drops 52%(4:42 pm ET)
SAN FRANCISCO (MarketWatch) -- Genworth Financial Inc. (GNW: news, chart, profile) said late Thursday that fourth-quarter net income came in at $178 million, or 40 cents a share, down 52% from a year earlier when the insurer made $373 million, or 81 cents a share. Net operating income, which excludes after-tax net investment gains and losses, other adjustments and infrequent or unusual non-operating items, was $314 million, or 71 cents a share, the company reported. Genworth was expected to make 69 cents a share in the period, according to the average estimate of 16 analysts in a Thomson Financial survey.
Aon quarterly net income falls 7%(4:33 pm ET)
SAN FRANCISCO (MarketWatch) -- Aon Corp. (AOC: news, chart, profile) said late Thursday that fourth-quarter net income came in at $207 million, or 64 cents a share, down 7% from a year earlier when the insurance broker made $223 million, or 67 cents a share. Net income from continuing operations, excluding certain items, came in at 69 cents a share, the company reported. Aon was expected to make 66 cents a share, according to the average estimate of 15 analysts in a Thomson Financial survey. The company also said it is combining its worldwide risk and insurance brokerage operations into a single global business.
Real Networks' earnings fall 93%, but sales rise(4:30 pm ET)
SAN FRANCISCO (MarketWatch) -- Real Networks Inc. (RNWK: news, chart, profile) on Thursday reported a fourth-quarter profit of $2.7 million, or 2 cents a share, on revenue of $156.9 million, compared to earnings of $39.3 million, or 22 cents a share, on $125.6 million in sales in the year-ago quarter. Analysts surveyed by Thomson Financial had forecast Real to earn a penny a share on $155 million in revenue. Real's earnings a year ago were positively affected by payments from an antitrust settlement and commercial agreements with Microsoft Corp. (MSFT: news, chart, profile) , and the company received the last of those payments in early 2007. For its 2008 first quarter, Real said it expects to lose as much as 8 cents a share, or earn up to 2 cents a share, with revenue in a range of $139 million to $143 million.
Activision earnings surge 90% in December quarter(4:17 pm ET)
SAN FRANCISCO (Marketwatch) - Activision Inc. saw earnings surge more than 90% during the December quarter thanks to strong sales of its video game titles. For the quarter ended Dec. 31, the video game publisher (ATVI: news, chart, profile) reported net income of $272.2 million, or 86 cents a share, compared to net income of $142.8 million, or 46 cents a share, for the same period last year. Excluding the costs of stock-option expenses, the company said it would have earned $284.9 million, or 90 cents per share, for the recent period. Revenue for the quarter grew 80% to $1.48 billion. Analysts were expecting earnings of 80 cents a share on revenue of $1.36 billion, according to consensus estimates from Thomson Financial.
Brookfield Properties shares fall on outlook(11:00 am ET)
BOSTON (MarketWatch) -- Shares of Brookfield Properties Corp. (BPO: news, chart, profile) were down 5% after the real estate investment trust reported quarterly earnings and its outlook for 2008 funds from operations, which came in below Wall Street expectations. The REIT said it expects full-year FFO in the range of $1.44 to $1.52 a share, with a mid-point of $1.48. Analysts polled by Thomson Financial were forecasting FFO of $1.70 a share, on average.
Goldman Sachs' first quarter earnings could be a mixed bag, (9:58 am ET)
NEW YORK (MarketWatch) -- Goldman Sachs (GS: news, chart, profile) could continue to struggle during its first quarter ending Feb. 28, Dick Bove, an analyst with Punk Ziegel, wrote in a note to investors Thursday. Bove said he had cut his earnings-per-share estimates on the bank for fiscal 2008 to $18.62 from $21.70 and for fiscal 2009 to $22.30 from $22.61. Despite the turmoil, Bove said he places a hold rating on the stock, as increasing liquidity, lower interest rates and revitalized markets help a newly divested Goldman Sachs rely on its core businesses to stay in good shape. "For the first time in two years, I now believe that Goldman Sachs' book value is understated not overstated, as I have argued in the past," Bove wrote. "If the sentiment indicators prove to be false, and Goldman's holdings continue to pay off, the values in these securities will surface later in the year driving the company's book values higher."
Energy stocks move into the red(9:47 am ET)
NEW YORK (MarketWatch) -- Energy stocks fell Thursday in the face of weakness in the broad market and a dip in crude prices. The Amex Oil Index (XOI: news, chart, profile) retreated 0.5% to 1,289. The Amex Natural Gas Index (XNG: news, chart, profile) fell 0.5% to 532. Apache (APA: news, chart, profile) dipped 7 cents to $94.86 after doubling its fourth-quarter earnings. Power company Calpine (CPN: news, chart, profile) rose 30 cents to $16.75 as it resumed regular trading on the New York Stock Exchange after emerging from bankruptcy. Diamond Offshore (DO: news, chart, profile) subtracted about 5% to trade a $105.14 after posting a 26% drop in earnings. Sunoco (SUN: news, chart, profile) rose 35 cents to $59.05 after it posted a loss. Crude prices fell 59 cents to $86.55.
Dollar Tree Q4 same-store sales slip, reaffirms outlook(9:33 am ET)
NEW YORK (MarketWatch) -- Dollar Tree Stores Inc. (DLTR: news, chart, profile) said Thursday that its fourth-quarter sales at stores open at least one year fell 0.8%. Total fourth-quarter sales were $1.3 billion, up 5% from the comparable 13 weeks of the year-earlier quarter. "Sales for the fourth quarter reflect continuing pressure on the consumer from a generally challenging economic environment," said Bob Sasser, president and CEO. The discount retailer also reaffirmed its earnings forecast of 99 cents to $1.06 a share for the fourth quarter and $2.06 to $2.13 a share for the year, within previous guidance ranges. Analysts, on average, expect fourth-quarter earnings of $1.03 a share and full-year earnings of $2.10 a share, according to Thomson Financial.
AutoNation's fourth-quarter net falls 31%(8:56 am ET)
NEW YORK (MarketWatch) -- AutoNation Inc.'s (AN: news, chart, profile) fourth-quarter net income fell 31% to $51.7 million, or 28 cents a share, from $75.2 million, or 36 cents a share, a year earlier. Earnings from continuing operations were 27 cents a share. The Fort Lauderdale, Fla., automotive retailer said revenue declined 4.1% to $4.21 billion from $4.39 billion. On average, analysts polled by Thomson Financial expected earnings of 31 cents a share on revenue of $4.22 billion.
Target's January same-store sales fall 1.1%(8:55 am ET)
NEW YORK (MarketWatch) -- Target Corp.'s (TGT: news, chart, profile) January same-store sales fell 1.1% from a year earlier, hurt in part by weaker lawn and garden and jewelry sales. A Thomson Financial survey of analysts, on average, predicted same-store sales would fall 0.6%. The Minneapolis retailer said net retail sales for the four weeks ended Feb. 2 increased 5.4% compared to the four weeks ended Jan. 27, 2007. On a fiscal month basis, net retail sales for the four weeks ended Feb. 2, decreased 16.1% to $4.11 billion from $4.9 billion for the five-week period ended Feb. 3, 2007. Looking forward, Target is forecasting February same-store sales down 1% to up 1%.
Millennium Pharma fourth-quarter net rises (8:53 am ET)
NEW YORK (MarketWatch) -- Millennium Pharmaceuticals Inc.'s (MLNM: news, chart, profile) fourth-quarter net income rose to $41.1 million, or 13 cents a share, from $8.27 million, or 3 cents a share, a year earlier, helped by an increase in Velcade myeloma and lymphoma drug sales and royalties. The Cambridge, Mass., biopharmaceutical company posted non-GAAP earnings of $55.6 million, or 17 cents a share. Millennium's revenue rose 29% to $181.2 million from $140.1 million. On average, analysts polled by Thomson Financial expected per-share earnings of 12 cents, excluding some items, on revenue of $159 million. Millennium expects 2008 net income of $10 million to $25 million and non-GAAP earnings of $80 million to $95 million.
Dillard's January total sales fell 12%(8:52 am ET)
NEW YORK (MarketWatch) -- Dillard's Inc.'s (DDS: news, chart, profile) January total and comparable store sales fell 12% from the four weeks ended Feb. 2 compared with the four weeks ended Jan. 27 a year earlier. A Thomson Financial survey of analysts, on average, projected sales to fall 5.3%. The Little Rock, Ark., regional group of department stores said sales in the Central region were slightly above its average sale performance trend for the period, and sales were slightly below trend in the Eastern and Western regions.
Gap January same-store sales down 2%(8:50 am ET)
NEW YORK (MarketWatch) -- Gap Inc. (GPS: news, chart, profile) said January same-store sales fell 2% from a year earlier, hurt in part by Gap North America and Old Navy North America sales. The San Francisco retailer said net sales for the four weeks ended Feb. 2 were $932 million, compared with $1.19 billion for the five weeks ended Feb. 3, 2007. The company said due to a fifty-third week in fiscal year 2006, January same-store sales are compared with the four-week period ended Feb. 3, 2007. Gap expects earnings per share for the fourth quarter in the range of 33 cents to 35 cents a share. For fiscal year 2007, Gap expects earnings in the range of $1.03 to $1.05 a share.
Ross Janaury sales rise; sets buyback and boosts dividend(8:47 am ET)
NEW YORK (MarketWatch) - Ross Stores Inc. (ROST: news, chart, profile) said Thursday its January sales at stores open at least one year rose 1%. Analysts, on average, had expected same-store sales to rise 2.3%, according to Thomson Financial. Total sales for the four weeks ended Feb. 2 rose 9% to $350 million. The off-price retailer said it set a $600 million stock buyback plan and raised its dividend 27% to 9.5 cents a share payable on or about March 31, to stockholders of record as of Feb. 22. Based on favorable gross margin and expense trends, Ross now estimates that fiscal fourth-quarter earnings will be 69 cents to 70 cents a share, up from its previous guidance of 68 cents to 69 cents. For fiscal 2008, it expects to earn $1.89 to $1.90 a share. For fiscal 2009 it's forecasting same-store sales gains of 1% to 2% and earnings per share in the range of $2.10 to $2.20. For the fiscal first quarter it is targeting same-store sales of flat to up 1% and earnings per share of 52 cents to 54 cents a share.
Saks reports 4.1% rise in January same-store sales(8:41 am ET)
NEW YORK (MarketWatch) -- Saks Inc. (SKS: news, chart, profile) said Thursday its January sales at stores open at least one year rose 4.1%. Analysts, on average, had expected same-store sales to rise 2.2%, according to Thomson Financial. In a press release, the company noted that it "continues to experience a more challenging macroeconomic and competitive environment, and consistent with trends commencing in the third quarter, customers have continued to shift more of their spending to promotional events."
Arrow Electronics posts lower net; sales rise(8:32 am ET)
BOSTON (MarketWatch) -- Arrow Electronics Inc. (ARW: news, chart, profile) Thursday said its fourth-quarter net income fell to $114 million, or 92 cents a share, from $128.1 million, or $1.04 a share, in the same period last year. Sales rose 26% to $4.42 billion. The company forecast first-quarter sales between about $3.93 and $4.23 billion. Earnings per share, excluding any charges and including estimated amortization of intangible assets, are expected to be in the range of 81 cents to 87 cents a share, the company said.
Abercrombie & Fitch January same-store sales flat (8:33 am ET)
NEW YORK (MarketWatch) -- Abercrombie & Fitch (ANF: news, chart, profile) said Thursday its January sales at stores open at least one year were flat compared with results from a year ago. Analysts, on average, had also expected the same-store sales to come in flat, according to Thomson Financial. Net sales for the four weeks ended Feb. 2 totaled $219.7 million, down from $252.3 million in January 2007.
AGCO 4Q EPS 82 cents vs $1.41 loss a year ago(8:30 am ET)
NEW YORK (MarketWatch) -- AGCO Corp. (AG: news, chart, profile) said Thursday it earned $81.1 million, or 82 cents a share. A year ago AGCO lost $128.5 million, or $1.41 a share due to a non-cash goodwill impairment charge of approximately $171.4 million. Net sales were $2.2 billion, an increase of approximately 32.9% compared to the fourth quarter of 2006. AGCO's said net sales for the full year of 2008 are expected to increase between 11% and 13%
CORRECT: BJ's same-store sales up 8%(8:28 am ET)
NEW YORK (MarketWatch) -- BJ's Wholesale (BJ: news, chart, profile) said Thursday January same-store sales rose 7.8%. Analysts surveyed by Thomson Financial forecast a rise of 4.6%, on average. BJ's said total sales increased to $652 million from $586 million. (Corrects same-store sales figure.)
Aeropostale same-store sales up 4.7%(8:27 am ET)
NEW YORK (MarketWatch) -- Aeropostale (ARO: news, chart, profile) on Thursday said January same-store sales rose 4.7%. Analysts surveyed by Thomson Financial forecast a rise of 3%, on average.
Pacific Sunwear posts lower January sales, updates outlook(8:19 am ET)
NEW YORK (MarketWatch) -- Pacific Sunwear of California, Inc. (PSUN: news, chart, profile) said Thursday its January same-store sales fell 7.4%. Analysts, on average, had expected same-store sales to rise 1.2%, according to Thomson Financial. The Anaheim, Calif., clothing retailer said total sales for the four weeks ended Feb. 2 were down 3.7% to $66.3 million. Pacific Sunwear said it expects fourth-quarter earnings of 13 to 16 cents a share, or 29 cents to 32 cents a share on an adjusted basis. Analysts had been expecting earnings of 29 cents per share.
Arch Chemicals swings to profit(8:14 am ET)
BOSTON (MarketWatch) -- Arch Chemicals Inc. (ARJ: news, chart, profile) Thursday reported fourth-quarter net income of $10.5 million, or 42 cents a share, compared with a loss of $28.3 million, or $1.18 a share, the prior year. Quarterly sales rose to $344.2 million from $307.3 million. The Norwalk, Conn.-based company said it expects full-year sales to increase about 4% to 6%, while earnings per share from continuing operations before special items are forecast to be in the range of $2.55 to $2.65 a share. For the first quarter, the company sees earnings per share from continuing operations between 10 cents and 15 cents a share. "We expect 2008 to be another year of double-digit earnings improvement, despite the very challenging macroeconomic environment in the U.S. combined with continued pressures from raw material costs," said Chief Executive Michael Campbell in a statement.
Family Dollar Jan. same-store sales break even(8:11 am ET)
NEW YORK (MarketWatch) -- Family Dollar Stores Inc. (FDO: news, chart, profile) said Thursday January same-store sales remained flat. Analysts surveyed by Thomson Financial forecast a dip of 0.4%, on average. Total sales rose 2.9% to $482.3 million.
Gymboree posts quarterly sales, boosts profit forecast(8:03 am ET)
NEW YORK (MarketWatch) - Gymboree Corp. (GYMB: news, chart, profile) on Thursday said fourth-quarter sales rose 16% to $275.5 million. Same-store sales, or sales at stores open at least one year, rose 10% in the quarter. The children's clothing retailer expects to earn 93 cents a share to 95 cents a share in the fiscal fourth quarter, up 5 cents a share from its prior forecast. For the fiscal year it expects to earn $2.69 to $2.71 a share. For the fiscal first quarter and fiscal 2009, Gymboree expects low single-digit same-stores sales growth. In addition, the company plans to open about 100 stores in 2008 consisting of 20 Gymboree stores, 40 Gymboree Outlets, 20 Janie and Jack shops and 20 Crazy 8 stores. The company expects income from operations for the fiscal first quarter to be in the range of 73 cents to 75 cents a share, and profit for the year in a range of $3 to $3.05 a share. Analysts polled by Thomson Financial expect it to earn 90 cents a share in the fourth quarter, 78 cents a share in the first quarter and $2.65 for fiscal 2008 and $2.99 for fiscal 2009.
Laboratory Corporation 4Q EPS 98 cents vs 81 cents(7:50 am ET)
NEW YORK (MarketWatch) -- Laboratory Corporation of America Holdings (LH: news, chart, profile) said Thursday fourth-quarter earnings were $114.4 million, or 98 cents a share, compared to $103.7 million, or 81 cents a share, in the year-ago period. Fourth-quarter sales were $1.0 billion, compared to $896.6 million a year ago.
Terra Industries quarterly profit up sixfold(7:51 am ET)
NEW YORK (MarketWatch) -- Terra Industries Inc. (TRA: news, chart, profile) said Thursday fourth-quarter net income climbed to $69.7 milion, or 66 cents a share from $11.6 million, or 11 cents a share in the year-ago period. Revenue rose 27% to $570.2 million from $449.5 million. Analysts surveyed by Thomson Financial forecast earnings of 64 cents a share, on average. The Sioux City, Iowa provider of nitrogen products to the agricultural industry said nitrogen prices should remain strong through the 2008 planting season, but natural gas prices "will significantly affect" its product costs. "As we look to the first half of 2008, we anticipate continued strong demand for our products as supported by the record level of customer prepayments we have accepted for delivery. Grain prices continue to be robust, providing ample incentive for growers to optimize yields."
Spirit Aerosystems Q4 earnings 54c per share vs 58c loss(7:49 am ET)
NEW YORK (MarketWatch) -- Spirit AeroSystems Holdings, Inc. (SPR: news, chart, profile) said Thursday its fourth-quarter profit totaled $76 million, or 54 cents per share, from a loss of $69 million, or 58 cents per share, in the same quarter a year before. Revenue for the period was $980 million, compared with $852 million a year earlier. A Thomson Financial poll of analysts had shown an average profit expectation of 56 cents per share on revenue of $1.06 billion. The Wichita, Kans., aviation manufacturer said it projects 2008 earnings to come in between $2.30 and $2.40 per share.
Nordstrom January same-store sales fall 6.6%(7:46 am ET)
NEW YORK (MarketWatch) -- Nordstrom Inc. (JWN: news, chart, profile) said Thursday that its January sales at stores open at least one year fell 6.6%. Analysts, on average, had expected same-store sales to fall 0.7%, according to Thomson Financial. Preliminary sales for the four weeks ended Feb. 2 fell 20.3% to $486.3 million. Excluding an extra week of sales in January 2006, January 2007 total sales fell 1.2%, but that adjustment does not affect same-store-sales calculations.

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Friday, Feb. 8
Energy stocks rise, picking up from previous session(9:40 am ET)
NEW YORK (MarketWatch) -- Energy stocks rose on positive momentum from the previous session, as earnings reports continue to stream in and crude prices gained. The Amex Oil Index (XOI: news, chart, profile) rose 0.6% to 1,316. Exxon Mobil (XOM: news, chart, profile) rose a quarter point to $82.14 after it cleared a legal hurdle in its battle with Venezuela on expropriated oil field assets. EOG (EOG: news, chart, profile) rose 2% to $91.88 after it reported fourth-quarter earnings of $1.29 a share, ahead of the forecast of $1.10 a share expected by analysts. EOG also raised its quarterly dividend to 12 cents a share. The Amex Natural Gas Index (XNG: news, chart, profile) rose 1.3% to 547.
Tiffany's sets 2008 earnings target of $2.50-$2.55(8:20 am ET)
NEW YORK (MarketWatch) -- Tiffany (TIF: news, chart, profile) said Friday it expects 2008 earnings of $2.50-$2.55 a share. Wall Street analysts expect year-end earnings of $2.28 a share, according to a survey by Thomson Financial.
Corning affirms Q1 target(8:04 am ET)
NEW YORK (MarketWatch) -- Corning Inc. (GLW: news, chart, profile) said Friday it continues to expect first-quarter earnings of 41 to 43 cents a share, excluding special items. Analysts surveyed by Thomson Financial forecast earnings of 41 cents a share, on average.
Windstream Q4 earnings $1.25 per share vs 25 cents(7:24 am ET)
NEW YORK (MarketWatch) -- Windstream Corporation (WIN: news, chart, profile) said Friday its fourth-quarter profit totaled $583.6 million, or $1.25 per share, from $117.7 million, or 25 cents per share, in the same quarter a year before. The Little Rock, Ark.-based company said revenue for the quarter was $827.8 million, almost flat from the $827.6 million recorded a year ago. Analysts polled by Thomson Financial were expecting on average, earnings of 24 cents per share on revenue of $823 million. Windstream said it expects 2008 revenue to total $3.16 billion to $3.29 billion, compared with the 2007 result of $3.26 billion. Windstream also said its board of directors adopted a $400 million share repurchase plan that will expire at the end of 2009.
Aimco swings to a loss, but gains on FFO(7:19 am ET)
NEW YORK (MarketWatch) -- Apartment Investment and Management Company (Aimco) (AIV: news, chart, profile) on Friday said it swung to a fourth-quarter loss of $26.6 million, or 27 cents a share, from $66.1 million, or 66 cents a share in the year-ago period. Funds from operations before impairment and preferred redemption charges was 88 cents a share, the mid-point of the company's targets. Non-GAAP adjusted FFO fell to 62 cents a share from 70 cents a share. Analysts surveyed by Thomson Financial forecast 92 cents a share in funds from operations.
Coventry Health Care meets estimates with 18% profit rise(7:00 am ET)
LONDON (MarketWatch) -- Coventry Health Care (CVN: news, chart, profile) said fourth-quarter net income rose 18% to $184.3 million, or $1.18 a share, with revenue up 44% to $2.79 billion. For the first quarter, it expects earnings between 85 cents and 87 cents a share on revenue between $2.9 billion and $3.1 billion, and annual earnings between $4.42 to $4.58 on revenue between $12.35 billion and $12.9 billion. Analysts polled by Thomson Financial expected the company to earn $1.18 a share for the fourth quarter and $4.55 a share for 2008.
Vitran's quarterly profit drops as revenue rises 13%(6:51 am ET)
WASHINGTON (MarketWatch) -- Vitran Corp. (VTNC: news, chart, profile) (CA:VTN: news, chart, profile) reported fourth-quarter net income of $1.7 million, or 12 cents a share, down from $5 million, or 37 cents, earned in the final three months of 2006. The mean profit estimate for the Toronto-based trucking and logistics company, as compiled by FactSet Research, was 24 cents a share. Quarterly revenue reached $174.3 million, up from the prior year's $153.8 million. Pressure continued on margins as the North American trucking industry grapples with the soft economic environment, said CEO Rick Gaetz. Operating ratio in Vitran's less-than-truckload segment increased to 98.5 in the latest quarter from 93.9 a year earlier, but shipments and tonnage fell.
Sirona Dental operating profit up 4%(6:25 am ET)
LONDON (MarketWatch) -- Medical equipment manufacturer Sirona Dental Systems Inc. (SIRO: news, chart, profile) said Friday that its fiscal first-quarter net profit jumped to $17 million, or 31 cents a share, from $2.3 million, or 4 cents a share, a year ago. Revenue for the quarter rose 14.5% to $200.1 million. Operating income, which excludes a $21.1 million charge in the year-ago quarter, rose 4% to $27.2 million from $26.1 million. The company said revenue growth was helped by strong overseas sales in Japan, Australia and Italy.
Centene lays out first-quarter, full year financial targets(6:26 am ET)
WASHINGTON (MarketWatch) -- Centene Corp. (CNC: news, chart, profile) said it anticipates generating earnings of 59 cents to 64 cents a share for the first quarter, on revenue of $785 million to $795 million. And for 2008, the managed-care provider pegged earnings in a range of $2.04 to $2.14 a share, on projected revenue of $3.37 billion to $3.47 billion. Analysts' mean profit estimates as compiled by FactSet Research stand at 37 cents a share for the first quarter and $1.82 a share for all of 2008. The forecasts, the company said, reflect recently implemented premium rate increases in Ohio, Indiana and Wisconsin, as well as the retroactive impact of a July 1, 2007, rate increase in Georgia, among other factors.
Centene posts lower quarterly net, higher revenue(6:19 am ET)
WASHINGTON (MarketWatch) -- Centene Corp. (CNC: news, chart, profile) reported fourth-quarter net income of $1.5 million, or 3 cents a share, down from $13.8 million, or 31 cents, earned in the final three months of 2006. Financial results for the St. Louis-based managed-care provider show a loss from discontinued operations of 4 cents a share in the latest quarter, as well as earnings from discontinued operations of 10 cents a share in the year-earlier period. Earnings excluding restructuring charges came in 20 cents a share for the latest quarter, as opposed to 21 cents a year earlier. Analysts' mean estimate as compiled by FactSet Research was for Centene to earn 48 cents a share. Quarterly revenue hit $777.4 million, up from the prior year's $617.8 million, in what the company said was mainly a reflecton of membership growth in Texas and Ohio. Centene also said that its inability to recognize until the first quarter of 2008 a Georgia rate increase that took effect July 1 affected the results.
Uti Worldwide cuts earnings outlook, sets cost cuts(6:09 am ET)
LONDON (MarketWatch) -- UTI Worldwide (UTIW: news, chart, profile) , which provides shipping services and logistics, on Friday cuts its internal earnings estimates and set several measures to trim costs. The company now expects to report earnings for fiscal 2008 of between 98 cents and $1.02 per diluted share, excluding restructuring charges. Including restructuring charges, the company expects to report earnings of between 90 cents and 94 cents per diluted share. "Uti has grown significantly in the past five years. This rapid expansion has led to increases in expenses that have outpaced net revenue growth. Our past efforts have not been as successful as we expected in reversing this trend. In addition, pressure on yields, particularly in airfreight, and underperforming operations were worse than expected. On top of this, we are facing a slowdown in our clients' businesses," CEO Roger MacFarlane said in a Friday press release.
Fujifilm Holdings posts April to Dec net profit of $965 mln(5:15 am ET)
HONG KONG (MarketWatch) -- Fujifilm Holdings Corp. (JP:4901: news, chart, profile) reported Friday net profit in the first three fiscal quarters more than doubled as its information solutions business offset shrinking color film sales. Fujifilm said net profit in the April to December period totaled 103.9 billion yen ($965.3 million), up from 43.4 billion yen a year earlier. Sales increased 3.3% to 2.137 trillion yen from 2.068 trillion yen and group operating profit was up 178 billion yen compared to 121.46 billion yen. Shares of Fujifilm fell 3.4% in Tokyo trading ahead of the after-hours' release.
Sega Sammy posts net loss of $147 million in April to Dec.(5:13 am ET)
HONG KONG (MarketWatch) -- Sega Sammy Holdings Inc. (JP:6460: news, chart, profile) posted a net loss of 15.77 billion yen ($146.5 million) in the nine months ending December 31, and said it now expects a net loss for the fiscal year ending March 31. The Tokyo-based game maker, which derives about one third of revenue from its pachinko game business, posted a 49.38 billion yen profit in the nine-month period a year earlier. Sega forecasts a net loss of 26 billion yen for the current fiscal year, down from its earlier forecast for a 1 billion yen profit. Sega Sammy said sales in the nine month period fell 15.4% on year to 342.09 billion yen. The company reportedly cut its dividend forecast to 45 yen per share from 60 yen. Shares of Sega fell 5.9% in Tokyo trading ahead Friday ahead of the after-hours earnings' release.
Anglo American to earn $239 mln from De Beers stake(2:45 am ET)
LONDON (MarketWatch) -- Mining group Anglo American (UK:AAL: news, chart, profile) (AAUK: news, chart, profile) said Friday that it will report underlying earnings of $239 million from its stake in diamond producer De Beers in 2007. The group said De Beers reported underlying earnings of $483 million in 2007, a 14% increase from the previous year as tight cost controls offset the impact of slightly lower sales.
Compass group sees profit slightly ahead of expectations(2:33 am ET)
LONDON (MarketWatch) -- Catering company Compass Group (UK:CPG: news, chart, profile) said Friday that operating profit in the first quarter of fiscal 2008 was slightly ahead of expectations as a focus on cost savings has helped boost margins. In its North America business Compass said increased participation in healthy-eating program has helped drive growth at its education business. In the U.K. the education business has made steady progress after losing ground last year. The company also said its exchanged contracts with partner Accor to acquire their 50% stake in the firms' Brazilian joint venture for around 88 million pounds ($173 million).
Japan Airlines posts Q3 net profit of $121.7 million(2:25 am ET)
HONG KONG (MarketWatch) -- Japan Airlines Corp. (JP:9205: news, chart, profile) posted a net profit of 13.1 billion yen ($121.7 million) in the third fiscal quarter, helped by cost cuts, fleet reductions and a strategic emphasis towards more profitable routes. Last year, the firm posted a net loss of 10.8 billion yen. Revenue for the period fell 4.4% to 558.26 billion yen. The airline said part of the drop in revenue was related the partial sale of its stake in Jalux Inc., which operates retail outlets in Japanese airports. The airline left its full year net profit forecasts unchanged at 7 billion yen on revenue of 2.238 trillion yen. Shares of Japan Airlines climbed 2.7% ahead of the after-hours earnings' release.
Thursday, Feb. 7
EOG Resources posts 51% higher profit(5:22 pm ET)
SAN FRANCISCO (MarketWatch) -- Oil and natural gas producer EOG Resources Inc. (EOG: news, chart, profile) late Thursday posted fourth-quarter net income of $358 million, or $1.44 a share, up from $237.2 million, or 96 cents a share, a year ago. The gains built on a 10% rise in natural gas production and 11% rise in crude-oil output. Revenue for the three months ended Dec. 31 rose to $1.25 billion from $931.4 million a year ago. Analysts polled by Thomson Financial had forecast the Houston-based company would earn $1.10 a share on $1.14 billion in revenue. Shares of EOG Resouces rose 2.6% to $90.09 ahead of the report. The stock is up 35% over the past 12 months.
Allegheny Energy profit, sales up(4:45 pm ET)
SAN FRANCISCO (MarketWatch) -- Allegheny Energy Inc. (AYE: news, chart, profile) late Thursday said fourth-quarter net income rose 71% to $110.4 million, or 65 cents a share, compared with net income of $64.6 million, or 38 cents a share, a year ago. For the three months ended Dec. 31, revenue rose 7% to $786.3 million, thanks to higher market prices, higher generation rates in Pennsylvania, and increased retail sales. The electric utility serves over 1.5 million customers in Pennsylvania, West Virginia, Maryland and Virginia.
Genworth quarterly net income drops 52%(4:42 pm ET)
SAN FRANCISCO (MarketWatch) -- Genworth Financial Inc. (GNW: news, chart, profile) said late Thursday that fourth-quarter net income came in at $178 million, or 40 cents a share, down 52% from a year earlier when the insurer made $373 million, or 81 cents a share. Net operating income, which excludes after-tax net investment gains and losses, other adjustments and infrequent or unusual non-operating items, was $314 million, or 71 cents a share, the company reported. Genworth was expected to make 69 cents a share in the period, according to the average estimate of 16 analysts in a Thomson Financial survey.
Aon quarterly net income falls 7%(4:33 pm ET)
SAN FRANCISCO (MarketWatch) -- Aon Corp. (AOC: news, chart, profile) said late Thursday that fourth-quarter net income came in at $207 million, or 64 cents a share, down 7% from a year earlier when the insurance broker made $223 million, or 67 cents a share. Net income from continuing operations, excluding certain items, came in at 69 cents a share, the company reported. Aon was expected to make 66 cents a share, according to the average estimate of 15 analysts in a Thomson Financial survey. The company also said it is combining its worldwide risk and insurance brokerage operations into a single global business.
Real Networks' earnings fall 93%, but sales rise(4:30 pm ET)
SAN FRANCISCO (MarketWatch) -- Real Networks Inc. (RNWK: news, chart, profile) on Thursday reported a fourth-quarter profit of $2.7 million, or 2 cents a share, on revenue of $156.9 million, compared to earnings of $39.3 million, or 22 cents a share, on $125.6 million in sales in the year-ago quarter. Analysts surveyed by Thomson Financial had forecast Real to earn a penny a share on $155 million in revenue. Real's earnings a year ago were positively affected by payments from an antitrust settlement and commercial agreements with Microsoft Corp. (MSFT: news, chart, profile) , and the company received the last of those payments in early 2007. For its 2008 first quarter, Real said it expects to lose as much as 8 cents a share, or earn up to 2 cents a share, with revenue in a range of $139 million to $143 million.
Activision earnings surge 90% in December quarter(4:17 pm ET)
SAN FRANCISCO (Marketwatch) - Activision Inc. saw earnings surge more than 90% during the December quarter thanks to strong sales of its video game titles. For the quarter ended Dec. 31, the video game publisher (ATVI: news, chart, profile) reported net income of $272.2 million, or 86 cents a share, compared to net income of $142.8 million, or 46 cents a share, for the same period last year. Excluding the costs of stock-option expenses, the company said it would have earned $284.9 million, or 90 cents per share, for the recent period. Revenue for the quarter grew 80% to $1.48 billion. Analysts were expecting earnings of 80 cents a share on revenue of $1.36 billion, according to consensus estimates from Thomson Financial.
Brookfield Properties shares fall on outlook(11:00 am ET)
BOSTON (MarketWatch) -- Shares of Brookfield Properties Corp. (BPO: news, chart, profile) were down 5% after the real estate investment trust reported quarterly earnings and its outlook for 2008 funds from operations, which came in below Wall Street expectations. The REIT said it expects full-year FFO in the range of $1.44 to $1.52 a share, with a mid-point of $1.48. Analysts polled by Thomson Financial were forecasting FFO of $1.70 a share, on average.
Goldman Sachs' first quarter earnings could be a mixed bag, (9:58 am ET)
NEW YORK (MarketWatch) -- Goldman Sachs (GS: news, chart, profile) could continue to struggle during its first quarter ending Feb. 28, Dick Bove, an analyst with Punk Ziegel, wrote in a note to investors Thursday. Bove said he had cut his earnings-per-share estimates on the bank for fiscal 2008 to $18.62 from $21.70 and for fiscal 2009 to $22.30 from $22.61. Despite the turmoil, Bove said he places a hold rating on the stock, as increasing liquidity, lower interest rates and revitalized markets help a newly divested Goldman Sachs rely on its core businesses to stay in good shape. "For the first time in two years, I now believe that Goldman Sachs' book value is understated not overstated, as I have argued in the past," Bove wrote. "If the sentiment indicators prove to be false, and Goldman's holdings continue to pay off, the values in these securities will surface later in the year driving the company's book values higher."
Energy stocks move into the red(9:47 am ET)
NEW YORK (MarketWatch) -- Energy stocks fell Thursday in the face of weakness in the broad market and a dip in crude prices. The Amex Oil Index (XOI: news, chart, profile) retreated 0.5% to 1,289. The Amex Natural Gas Index (XNG: news, chart, profile) fell 0.5% to 532. Apache (APA: news, chart, profile) dipped 7 cents to $94.86 after doubling its fourth-quarter earnings. Power company Calpine (CPN: news, chart, profile) rose 30 cents to $16.75 as it resumed regular trading on the New York Stock Exchange after emerging from bankruptcy. Diamond Offshore (DO: news, chart, profile) subtracted about 5% to trade a $105.14 after posting a 26% drop in earnings. Sunoco (SUN: news, chart, profile) rose 35 cents to $59.05 after it posted a loss. Crude prices fell 59 cents to $86.55.
Dollar Tree Q4 same-store sales slip, reaffirms outlook(9:33 am ET)
NEW YORK (MarketWatch) -- Dollar Tree Stores Inc. (DLTR: news, chart, profile) said Thursday that its fourth-quarter sales at stores open at least one year fell 0.8%. Total fourth-quarter sales were $1.3 billion, up 5% from the comparable 13 weeks of the year-earlier quarter. "Sales for the fourth quarter reflect continuing pressure on the consumer from a generally challenging economic environment," said Bob Sasser, president and CEO. The discount retailer also reaffirmed its earnings forecast of 99 cents to $1.06 a share for the fourth quarter and $2.06 to $2.13 a share for the year, within previous guidance ranges. Analysts, on average, expect fourth-quarter earnings of $1.03 a share and full-year earnings of $2.10 a share, according to Thomson Financial.
AutoNation's fourth-quarter net falls 31%(8:56 am ET)
NEW YORK (MarketWatch) -- AutoNation Inc.'s (AN: news, chart, profile) fourth-quarter net income fell 31% to $51.7 million, or 28 cents a share, from $75.2 million, or 36 cents a share, a year earlier. Earnings from continuing operations were 27 cents a share. The Fort Lauderdale, Fla., automotive retailer said revenue declined 4.1% to $4.21 billion from $4.39 billion. On average, analysts polled by Thomson Financial expected earnings of 31 cents a share on revenue of $4.22 billion.
Target's January same-store sales fall 1.1%(8:55 am ET)
NEW YORK (MarketWatch) -- Target Corp.'s (TGT: news, chart, profile) January same-store sales fell 1.1% from a year earlier, hurt in part by weaker lawn and garden and jewelry sales. A Thomson Financial survey of analysts, on average, predicted same-store sales would fall 0.6%. The Minneapolis retailer said net retail sales for the four weeks ended Feb. 2 increased 5.4% compared to the four weeks ended Jan. 27, 2007. On a fiscal month basis, net retail sales for the four weeks ended Feb. 2, decreased 16.1% to $4.11 billion from $4.9 billion for the five-week period ended Feb. 3, 2007. Looking forward, Target is forecasting February same-store sales down 1% to up 1%.
Millennium Pharma fourth-quarter net rises (8:53 am ET)
NEW YORK (MarketWatch) -- Millennium Pharmaceuticals Inc.'s (MLNM: news, chart, profile) fourth-quarter net income rose to $41.1 million, or 13 cents a share, from $8.27 million, or 3 cents a share, a year earlier, helped by an increase in Velcade myeloma and lymphoma drug sales and royalties. The Cambridge, Mass., biopharmaceutical company posted non-GAAP earnings of $55.6 million, or 17 cents a share. Millennium's revenue rose 29% to $181.2 million from $140.1 million. On average, analysts polled by Thomson Financial expected per-share earnings of 12 cents, excluding some items, on revenue of $159 million. Millennium expects 2008 net income of $10 million to $25 million and non-GAAP earnings of $80 million to $95 million.
Dillard's January total sales fell 12%(8:52 am ET)
NEW YORK (MarketWatch) -- Dillard's Inc.'s (DDS: news, chart, profile) January total and comparable store sales fell 12% from the four weeks ended Feb. 2 compared with the four weeks ended Jan. 27 a year earlier. A Thomson Financial survey of analysts, on average, projected sales to fall 5.3%. The Little Rock, Ark., regional group of department stores said sales in the Central region were slightly above its average sale performance trend for the period, and sales were slightly below trend in the Eastern and Western regions.

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