Replies to post #417 on Earning Plays

[guitarmusic]

Whats on the plate for this week Option4U?

[guitarmusic]

Going for a straddle on both aapl and yhoo....especially aapl...its topped out, so if she surprises, she'll most likely keep going and if she disappoints she'll fall like hell IMHO

[3xBuBu]

Tuesday, April 22

Smurfit-Stone reports narrower loss(5:08 pm ET)
SAN FRANCISCO (MarketWatch) -- Smurfit-Stone Container Corp. (SSCC: news, chart, profile) late Tuesday reported a narrower first-quarter loss from a year ago but the loss was more than Wall Street had targeted. The maker of cardboard boxes and other packaging reported a loss of $13 million, or 6 cents a share. Analysts polled by FactSet had expected a loss of 3 cents, on average. A year ago, Smurfit-Stone posted a loss of $52 million, or 21 cents a share. Sales were flat at $1.8 billion as a slowing U.S. economy and rising commodity costs offset box-price increases, the company said. Looking ahead, Smurfit-Stone said second-quarter earnings should be better than the first quarter.
Norfolk Southern ekes out higher profit (4:52 pm ET)
SAN FRANCISCO (MarketWatch) -- Norfolk Southern Corp. (NSC: news, chart, profile) reported late Tuesday first-quarter net earnings of $291 million, or 76 cents a share, up from $285 million, or 71 cents a share, a year ago. Lawsuits trimmed the bottom line by 2 cents a share. Revenue for the three months ended March 31 rose 11% to $2.5 billion from $2.25 billion. Analysts polled by FactSet Research had predicted the Norfolk, Va.-based railroad would earn 77 cents a share on $2.36 billion in revenue. Norfolk Southern shares fell 0.5% to close at $61.14 ahead of the report.
Sigma-Aldrich posts higher profit, raises outlook(4:45 pm ET)
SAN FRANCISCO (MarketWatch) -- Sigma-Aldrich Corp. (SIAL: news, chart, profile) on Tuesday reported a first-quarter profit of $84.5 million, or 64 cents a share, up from $74.9 million, or 56 cents a share, a year ago. Revenue rose to $569.6 million from $495.9 million a year earlier. Analysts polled by FactSet Research were looking for a profit, on average, of 63 cents a share on sales of $557 million. The St. Louis-based chemical company raised its 2008 targeted earnings range to $2.57 to $2.67 a share. Wall Street previously projected a profit of $2.61 a share for the full year.
Yahoo posts sales, profit gains in first quarter(4:40 pm ET)
SAN FRANCISCO (MarketWatch) - Yahoo Inc. said Tuesday its first-quarter net income rose to $542 million, or 37 cents a share, from $142 million, or 10 cents a share in the same period a year earlier. The recent period's earnings include a gain of $401 million related to the IPO of Alibaba.com, in which Yahoo has an ownership stake. Meanwhile revenue in the period ended in March rose to $1.82 billion from $1.67 billion. Yahoo's (YHOO: news, chart, profile) net revenue, or revenue excluding payments made to other Web sites to acquire traffic, rose to $1.35 billion. Excluding special items, Yahoo said earnings were 11 cents a share. Analysts had estimated Yahoo would post earnings of 9 cents a share, and $1.32 billion in net revenue, according to Thomson Financial.
International growth, steady U.S. boost Yum Brands profit(4:34 pm ET)
CHICAGO (MarketWatch) -- Strong international sales and steady results in the U.S. powered Yum Brands Inc. to sharply higher first quarter profit, the fast-food operator said Tuesday. After the close of trading, Yum said it earned $254 million, or 50 cents a share, up from $194 million, or 35 cents, in the year-ago period. Knocking out a one-time gain, Yum would have earned 42 cents a share. Sales rose 8% to $2.41 billion. Same-store sales, or those at outlets open more than a year, climbed 4% worldwide. The average estimate of analysts polled by FactSet Research had been for Yum (YUM: news, chart, profile) to earn 41 cents a share on revenue of $2.3 billion. Yum also raised its full-year 2008 EPS forecast from $1.85 to $1.87 per share.
VF profit climbs, backs 2008 profit forecast(4:33 pm ET)
SAN FRANCISCO (MarketWatch) -- Apparel maker VF Corp. (VFC: news, chart, profile) late Tuesday reported first-quarter net income rose almost 8% from a year ago, topping Wall Street's expectations. The company also backed its 2008 profit forecast despite some expected weakness in the second quarter. VF had first-quarter net income of $149 million, or $1.33 a share, up from $138.3 million, or $1.20 a share, in the year-earlier period. Sales rose 10% to $1.85 billion. Greensboro, N.C-based VF sells brands such as Wrangler, North Face, Vans, and Nautica. It said 2008 earnings will be 10% higher than last year, while earnings will be up 9%. VF's forecast for the second quarter is below expectations. The company pegged earnings at 80 cents a share. Analysts surveyed by FactSet expect $1.01. VF shares are up 14% this year.
C.H. Robinson lifts profit 18% (4:29 pm ET)
SAN FRANCISCO (MarketWatch) -- C.H. Robinson Worldwide, Inc. (CHRW: news, chart, profile) reported late Tuesday first-quarter net income rose to $86.3 million, or 50 cents a share, from $73 million, or 42 cents, a year ago. Revenue for the three months ended March 31 rose 22% to $1.96 billion from $1.62 billion. Analysts surveyed by FactSet Research forecast the trucking and transport company would earn 48 cents a share on $1.86 billion in sales. Shares of the Minneapolis-based company rose 0.2% to close at $59.36 ahead of the report.
XL Capital reports 57% drop in first-quarter net income(4:25 pm ET)
SAN FRANCISCO (MarketWatch) -- XL Capital Ltd. (XL: news, chart, profile) said late Tuesday that first-quarter net income came in at $244.4 million, down 57% from a year earlier when the insurance and reinsurance company made $562.5 million. Net income available to common shareholders was $1.20 a share, down from $3.06 a share in the same quarter of 2007. Earnings excluding net realized investment gains and losses were $276.9 million, or $1.57 a share, compared with $540 million, or $3.01 a share, for the prior year quarter, XL reported. The company was expected to make $2.27 a share, according to the average estimate of 17 analysts in a FactSet survey. XL shares slipped 3.8% to $28.90 during after-hours trading on light volume.
Molex earnings fall 23% on restructuring charges(4:11 pm ET)
SAN FRANCISCO (MarketWatch) -- Molex Inc. saw earnings drop 23% in its third fiscal quarter thanks to large restructuring charges. The electronics manufacturing company (MOLX: news, chart, profile) reported earnings of $50.3 million, or 28 cents a share, for the quarter ended March 31 compared to earnings of $65.3 million, or 35 cents a share, for the same period last year. Excluding charges for restructuring and tax adjustments, the company said earnings for the recent period would have been 37 cents a share. Revenue grew nearly 2% to $822.3 million. Analysts had been expecting earnings of 35 cents a share on revenue of $838.5 million, according to Thomson Financial.
VMware earnings rise 5% to $43 million(4:12 pm ET)
SAN FRANCISCO (MarketWatch) - VMware Inc. (VMW: news, chart, profile) on Tuesday reported a first-quarter profit of $43 million, or 11 cents a share, on $438 million in sales, compared to earnings of $41 mililon, or 12 cents a share on revenue of $259 million in year-ago period. Excluding one-time items, the virtualization software developer would have earned $88 million, or 22 cents a share, to meet the estimates of analysts surveyed by FactSet Research, who forecast a profit of 22 cents a share on revenue of $422.7 million. The company said it expects its second-quarter sales to rise about 55% over the $297 million it reported in the same period a year ago.
Sherwin-Williams' first-quarter net falls 30%(9:44 am ET)
NEW YORK (MarketWatch) -- Sherwin-Williams Co. (SHW: news, chart, profile) said Tuesday that its first-quarter earnings slid to $77.9 million, or 64 cents a share, from $111.8 million, or 83 cents a share, a year earlier, hurt in part by acquisition costs and lower sales in its consumer group. A Thomson Reuters survey of analysts, on average, predicted earnings of 59 cents a share for the quarter. Analysts' estimates usually exclude items. The Cleveland paint maker said sales increased to $1.78 billion from $1.76 billion a year ago. The company expects second-quarter earnings of $1.45 to $1.60 a share. For 2008, Sherwin-Williams now expects a low single digit percentage increase in sales from a year ago. The company also backed its 2008 earnings view of $4.70 to $4.85 a share.
Netflix cut to neutral by Credit Suisse following run-up(9:40 am ET)
SAN FRANCISCO (MarketWatch) -- Netflix Inc. was downgraded to a neutral rating by Credit Suisse on Tuesday after the online DVD rental provider scaled back its earnings outlook for the rest of the year. In a note to clients, analyst Heath Terry noted that despite strong subscriber gorwth and reduced competition from Blockbuster, Netflix will face higher costs as it tries to ramp up digital downloads and its offering of high-definition Blu-ray disks. While Terry said he expects subscriber growth to continue, he notes that Netflix shares have jumped more than 70% since the first of the year, stating that "we believe shares of Netflix reflect these improved trends and a more realistic view of the company's long-term prospects."
Energy stocks mixed in early action(9:36 am ET)
NEW YORK (MarketWatch) -- Energy stocks traded mixed in early action on Tuesday. The Amex Oil Index (XOI: news, chart, profile) fell 0.2% to 1,507. The Amex Natural Gas Index (XNG: news, chart, profile) edged up 0.2% to 683. Crude prices crested to a new record of $118.05 a barrel before falling back to $117.26, down 22 cents. BJ Services (BJS: news, chart, profile) fell 14% to $28.19 after it said it expects earnings of 39-43 cents a share in the current quarter. Analysts surveyed by FactSet forecast earnings of 51 cents a share, on average.
Rayonier 1st-quarter net up 16% on 5.2% lower sales(9:09 am ET)
TEL AVIV (MarketWatch) -- Rayonier Inc., (RYN: news, chart, profile) the Jacksonville, Fla., forest-products company, reported first-quarter net income rose 16% on 5.2% lower sales. Earnings reached $40.6 million, or 51 cents a share, from $35.1 million, or 44 cents, in the year-earlier period. Sales slipped to $284.2 million from $299.7 million. A survey of analysts by FactSet Research produced a consensus estimate of 44 cents for the quarter. The company estimated that earnings for the second quarter and full year will lage the levels of a year earlier. But "softness" in the timber and real estate markets "will be somewhat offset" by continued strength in the company's performance-fibers unit, Rayonier said.
Pentair first-quarter net increases to $44.3 million(8:58 am ET)
NEW YORK (MarketWatch) -- Pentair Inc. (PNR: news, chart, profile) said Tuesday that its first-quarter net income rose 4.8% to $44.3 million, or 45 cents a share, from $42.3 million, or 42 cents a share, a year earlier. The Golden Valley, Minn., water treatment and storage products manufacturer posted earnings from continuing operations of $52.6 million, or 53 cents a share. Pentair's sales rose 6% to $840.4 million from $792.8 million. On average, analysts polled by Thomson Reuters expected per-share earnings of 48 cents on revenue of $851 million. Pentair expects second-quarter earnings of 64 cents to 67 cents a share. The company increased its guidance for full-year earnings to $2.30 to $2.40 a share from previous expectations of $2.25 to $2.40 a share.
USG Corp. sees signs of stablization in construction market(8:51 am ET)
NEW YORK (MarketWatch) -- USG Corp. (USG: news, chart, profile) on Tuesday said it swung to a first-quarter loss, but added it's seeing signs of stabilization in the U.S. housing market. The Chicago-based maker of drywall and other gympsum products said it lost $45 million, or 45 cents a share, compared to net income of $41 million, or 45 cents a share in the year-ago period. Revenue fell to $1.17 billion from $1.26 billion. "The housing market continues to be very challenging," the company said. "New residential construction has shown signs of stabilizing at or around the current level, which is down about 50% from the peak in 2005. The market is likely to remain weak into 2009 as the inventory of unsold homes remains at historically high levels. The corporation expects declines in residential repair and remodeling expenditures and non-residential construction activity."
Gentex's first-quarter net rises(8:51 am ET)
NEW YORK (MarketWatch) -- Gentex Corp. (GNTX: news, chart, profile) said Tuesday that its first-quarter net income increased to $30.4 million, or 21 cents a share, from $29.5 million, or 21 cents a share, the prior year, due in part to its geographic diversification. Analysts surveyed by Thomson Financial expected, on average, earnings of 22 cents a share. The Zeeland, Mich., maker of automatic-dimming rearview mirrors and commercial fire protection products said net sales increased 13% to $178 million from $157.2 million a year ago. For the second quarter, Gentex said it expects top line growth of 10% and gross margin of about 35.2%.
Anixter's first-quarter net rises(8:46 am ET)
NEW YORK (MarketWatch) -- Anixter International Inc. (AXE: news, chart, profile) said Tuesday that its first-quarter net income rose 7.6% to $57.7 million, or $1.45 a share, from $53.6 million, or $1.27 a share, a year earlier. The Glenview, Ill., maker of wiring systems, network products and fasteners said non-GAAP earnings per share rose to $1.41 from $1.19. A Thomson Reuters survey of analysts, on average, projected earnings of $1.43 a share. The first quarter included a gain of $1.6 million, or 4 cents a share, from foreign tax benefits. Sales rose 11% to $1.47 billion from $1.33 billion. The company expects higher operating margins during 2008, and said sales for the second quarter will be higher than both the first quarter of this year and the year-ago second quarter.
Carlisle swings to first-quarter loss on charges(8:42 am ET)
NEW YORK (MarketWatch) -- Carlisle Cos. (CSL: news, chart, profile) on Tuesday reported swinging to a first-quarter loss of $62.6 million, or $1.02 a share, from net income of $36.8 million, or 59 cents a share, on charges related to disposing businesses. The Charlotte-based manufacturing company said its first-quarter results include after-tax impairment charges of $89.5 million, or $1.46 a share, related to disposing its power transmission belt business and on-highway brake business. The company had sales for the period ended March 31 of $708.3 million, compared with $628.9 million in the year-ago period. Shares of the company closed Monday at $33.81.
CORRECT: Brinker posts third-quarter loss of 38 cents/share(8:34 am ET)
NEW YORK (MarketWatch) --Franchise restaurant operator Brinker International Inc. (EAT: news, chart, profile) said Tuesday it had a third-quarter net loss of $38.8 million, or 38 cents per share, compared to a profit of $54.6 million, or 43 cents per share, a year earlier. A survey of analysts conducted by Thompson Reuters had predicted a gain of 32 cents a share. Before special items, Brinker would have reported a profit of $44.8 million, or 44 cents per share, compared to a profit of $55.4 million, 44 cents per share, during the same period last year. Brinker said revenues for the 13-week period fell 3.9% to $908 million from $944 million during the same period last year, hurt by a 6.7% net decline in capacity due to sales of restaurants to franchisees and restaurant closures and higher costs for commodities. (Corrects headline to reflect that third-quarter results were reported.)
U.S. retail gasoline prices rise by a penny a gallon(8:24 am ET)
NEW YORK (MarketWatch) -- U.S. retail unleaded gasoline prices edged up to $3.51 a gallon in the last day, from $3.50 a gallon the day before, according to the AAA Daily Fuel Gauge Report. A month ago, gasoline sold for $3.26 a gallon. A year ago it cost about $2.85 a gallon.
Meredith Corp. net income up 1.7%, sees lower 2008 net(8:21 am ET)
NEW YORK (MarketWatch) -- Meredith Corp. (MDP: news, chart, profile) on Tuesday said third-quarter net income rose 1.7% to $46 million, or 97 cents a share from $45.3 million, or 92 cents a share in the year-ago period. Earnings from continuing operations fell to 98 cents a share from $1.08 a share. Revenue edged down to $401 million from $402 million. Meredith said it expects 2008 earnings of $3.15 to $3.20 a share, lower than the $3.31 figure reported in the year-ago period. The media company cited a weaker economy.
LaBranche's loss widens on NYSE Euronext stake(8:16 am ET)
BOSTON (MarketWatch) -- Exchange specialist LaBranche & Co. (LAB: news, chart, profile) before Tuesday's opening bell said its first-quarter loss widened to $40.2 million, or 65 cents a share, from $5.6 million, or 9 cents a share, in the year-ago period. The New York company said the results included a pretax unrealized loss on its shares of NYSE Euronext (NYX: news, chart, profile) of $79.2 million. LaBranche said its board has approved a plan to repurchase $40 million worth of common stock.
Kelly Services first-quarter profit falls 31%(8:05 am ET)
NEW YORK (MarketWatch) -- Kelly Services Inc. (KELYA: news, chart, profile) said Tuesday its first quarter net income fell 31%, to $8.2 million, or 23 cents a share from $11.9 million, or 33 cents a share a year ago. Revenue for the quarter fell 2.8%, to $1.39 billion from $1.40 billion. (Repeats to fix ticker symbol.)
CORRECT: Harsco net income climbs 19%(8:03 am ET)
NEW YORK (MarketWatch) -- Harsco Corp. (HSC: news, chart, profile) on Tuesday said first-quarter net income for the three months ended March 31 climbed 19% to $57 million, or 67 cents a share, from $47.7 million, or 54 cents a share in the year-ago period. Sales rose to $988 million from $840 million. Analysts expected the Harrisburg, Pa. industrial services firm to earn 63 cents a share, according to a survey by Thomson Financial. Harsco raised its full-year 2008 forecast by a nickle to $3.45-$3.55 a share, from $3.40 to $3.50 a share. (Corrects analyst estimate.)
Waddell & Reed's first-quarter net falls(7:54 am ET)
NEW YORK (MarketWatch) -- Waddell & Reed Financial Inc. (WDR: news, chart, profile) said Tuesday that its first-quarter net income fell to $28.3 million, or 33 cents a share, from $28.7 million, or 35 cents a share, a year earlier, hurt by a challenging market environment. The Overland Park, Kan., financial services holding company said revenue rose to $234.1 million from $189.5 million. On average, analysts polled by Thomson Reuters expected per-share earnings of 39 cents on revenue of $242 million.
PepsiAmericas first-quarter income rises(7:33 am ET)
NEW YORK (MarketWatch) -- PepsiAmericas Inc. (PAS: news, chart, profile) said Tuesday that first-quarter net income rose to $24.7 million, or 19 cents a share, from $20.6 million, or 16 cents a share, a year earlier, when results included a 1-cent reduction related to special charges. A FactSet Research survey of analysts, on average, predicted earnings of 18 cents a share for the quarter. Analysts' estimates usually exclude items. The Minneapolis maker of PepsiCo beverages said sales increased to $1.1 billion from $960.2 million in the year-ago period. Worldwide volume improved 12.7% in the quarter.
Western Union net up 7%, ups revamp cost estimates(7:33 am ET)
LONDON (MarketWatch) -- Western Union (WU: news, chart, profile) said first-quarter net income rose 7% to $207.1 million, or 27 cents a share, with revenue up 12% to $1.27 billion. On an adjusted basis, the company earned 29 cents a share. Analysts polled by FactSet expected earnings of 28 cents a share. It still expects annual revenue growth between 9% and 11% on an adjusted earnings between $1.25 and $1.29 a share. But it lowered its GAAP earnings per share forecast to $1.19 to $1.23 due to $69 million of restructuring expenses and a $10 million cost savings benefit, compared to an earlier foreacst of $5 million in restructuring costs.
Arbitron 1st-quarter net up 5%; affirms full-year outlook(7:25 am ET)
TEL AVIV (MarketWatch) -- Arbitron Inc., (ARB: news, chart, profile) the New York media- and marketing-research firm, reported that first-quarter net income rose 5% on 5.5% higher revenue, and it affirmed its profit estimate for the full year. Earnings reached $16.3 million, or 57 cents a share, from $15.5 million, or 52 cents, in the year-earlier period. Shares outstanding fell 5.6% to 28.3 million. Revenue reached $94.1 million from $89.1 million. A survey of analysts by FactSet Research produced a consensus estimate of 46 cents of profit for the quarter. The company still expects to earn $1.30 to $1.44 a share for the year, compared with $1.37 in 2007. Adjusted revenue should rise 8% to 10% for the year, Arbitron estimated. FactSet's estimate for the year is $1.41 a share.
Mueller Industries first-quarter income rises(7:23 am ET)
NEW YORK (MarketWatch) -- Mueller Industries Inc. (MLI: news, chart, profile) said Tuesday that its first-quarter net income rose 45% to $27.4 million, or 73 cents a share, from $18.9 million, or 51 cents a share, in the year-earlier period. The Memphis, Tenn., maker of copper tubes and fittings said sales for the quarter rose to $704.1 million from $609.8 million, mostly due to acquired businesses and higher copper costs. Chairman Harvey Karp said he believes the housing construction market is near a bottom and should soon begin to improve.

[3xBuBu]

Wednesday, April 23


Apple Earnings Rise 36%; Profit Forecast Falls Short
Apple's profit forecast has now missed analysts' estimates in nine of the past 10 quarters. The company has topped its forecast in each quarter for the past two years.

Apple fell 58 cents to $162.31 in extended trading and declined as much as 4.9 percent. The shares closed at $162.89 at 4 p.m. New York time in Nasdaq Stock Market trading. They have gained 41 percent since dropping to an intra-day low of $115.44 on Feb. 26.

Noble profit jumps 53% on strong oil drilling demand (6:02 pm ET)
SAN FRANCISCO (MarketWatch) -- Noble Corp. (NE: news, chart, profile) , citing record-high energy prices and strong demand for its offshore drilling fleet, reported late Wednesday first-quarter net earnings of $384.2 million, or $1.43 a share, up from $250.3 million, or 93 cents, a year ago. Revenue for the three months ended March 31 rose 38% to $797.8 million from $576.9 million. Analysts polled by FactSet Research had expected the Sugar Land, Texas-based offshore rig operator to report earnings of $1.32 a share on $845 million in revenue. Shares of Noble fell 2.3% ahead of the report to close at $57.02. The stock is up 39% over the past 12 months.
Ryland loss narrows; new orders decline nearly 28%(5:14 pm ET)
SAN FRANCISCO (MarketWatch) -- Ryland Group (RYL: news, chart, profile) , one of the nation's biggest homebuilders, reported late Wednesday a first-quarter loss of $29.3 million, or 69 cents a share, compared with a loss of $32.2 million, or 58 cents, a year ago. Revenue for the three months ended March 31 fell to $416.2 million from $711.1 million. Analysts surveyed by Thomson Financial had predicted the Calabasas, Calif.-based company would turn in a loss of 84 cents a share. The company said new orders in the first quarter fell 27.8% to 2,159 units from 2,989 units a year ago.
Weak restaurant demand, raw material costs hurt Pactiv(4:59 pm ET)
SAN FRANCISCO (MarketWatch) -- Packaging company Pactiv Corp. (PTV: news, chart, profile) on Wednesday reported a first-quarter profit of $34 million, or 26 cents a share, down from $57 million, or 43 cents a share, a year earlier. The company blamed the weak U.S. economy, which hurt its restaurant segment, and higher raw materials costs for the decline. Excluding a restructuring charge of 7 cents a share, earnings would have come in at 33 cents a share. Sales rose 19% to $808 million. Analysts polled by FactSet Research were looking for the Hefty bag maker to report a profit, on average, of 32 cents a share on sales of $810 million.
Fidelity National quarterly net income falls 67%(4:56 pm ET)
SAN FRANCISCO (MarketWatch) -- Fidelity National Financial (FNF: news, chart, profile) said late Wednesday that first-quarter net income came in at $27.2 million, or 13 cents a share, down 67% from a year earlier when the title insurer made $83.4 million, or 37 cents a share. Revenue was $1.14 billion, down from $1.37 billion a year earlier, the company reported.
Aflac quarterly net income rises 14%(4:40 pm ET)
SAN FRANCISCO (MarketWatch) -- Aflac Inc. (AFL: news, chart, profile) said late Wednesday that first-quarter net income came in at $474 million, or 98 cents a share, up 14% from a year earlier when the medical insurer made $416 million, or 84 cents a share. Net earnings included realized investment losses of $4 million, or one cent a share, in the latest period, the company noted. Aflac was expected to make 95 cents a share, according to the average estimate of 17 analysts in a FactSet survey. Operating earnings per share will grow by 14% to 15% in 2008, Aflac forecast. That's a slightly more bullish outlook than the previous range of 13% to 15% growth. Total new sales in Japan climbed 5% during the first quarter, better than Aflac expected. Total new sales in the U.S. climbed 0.4% in the period, although sales improved in February and March, Aflac said.
Apple earnings rise 36%; Mac sales lead revenue growth(4:33 pm ET)
SAN FRANCISO (MarketWatch) -- Apple Inc. (AAPL: news, chart, profile) on Wednesday reported a fiscal second-quarter profit of $1.05 billion, or $1.16 a share, on $7.51 billion in revenue. During the same period a year ago, Apple earned $770 million, or 87 cents a share, on sales of $5.26 billion. The results topped Apple's forecast of a profit of 94 cents a share and $6.8 billion in revenue. Analysts surveyed by FactSet Research had estimated Apple would earn $1.05 a share on sales of $7 billion. The company said that during the quarter ended March 31 it sold 2.29 million Macintosh computers, 1.7 million iPhones and 10.6 million iPods. For its third quarter, Apple estimates it will earn $1 a share on $7.2 billion in sales.
Allstate quarterly net income falls 77%(4:27 pm ET)
SAN FRANCISCO (MarketWatch) -- Allstate Corp. (ALL: news, chart, profile) said late Wednesday that first-quarter net income came in at $348 million, or 62 cents a share, down 77% from a year earlier when the auto and homeowners insurer made $1.5 billion, or $2.41 a share. Operating earnings, which exclude net realized investment gains and losses, were $747 million, or $1.33 a share, the company reported. Allstate was expected to make $1.63 a share, according to the average estimate of 20 analysts polled by FactSet. Catastrophe losses were $568 million in the latest quarter, versus $161 million in the same period a year earlier, Allstate said. The insurer also said it had $655 million of net realized capital losses, partly from the falling value of securities backed by mortgages and other structured securities.
Starbucks warns profit to be hurt by weaker U.S. economy(4:20 pm ET)
SAN FRANCISCO (MarketWatch) -- Starbucks Corp. (SBUX: news, chart, profile) late Wednesday warned its second quarter and full-year profit will be hurt by decreased traffic at its U.S. stores and a "sharp weakening in the U.S. consumer environment." Starbucks pegged second-quarter earnings at 15 cents a share, below the consensus analyst target of 21 cents, according to FactSet. Starbucks said its fiscal 2008 profit will be "somewhat lower" than the 87 cents a share it earned in fiscal 2007. Analysts are now forecasting the coffee-shop chain will earn 96 cents a share. Starbucks' fiscal year ends in September.
Amerigroup earnings jump, but forecast lowered(4:13 pm ET)
LOS ANGELES (MarketWatch) -- Health insurer Amerigroup Corp. (AGP: news, chart, profile) reported first-quarter net income of $35.1 million, or 65 cents a share, compared with $21.3 million, or 40 cents a share, for the same period a year ago. Sales for the Virginia Beach, Va.-based company were $1.1 billion vs. last year's $832.3 million. Analysts polled by FactSet Research had expected earnings of 58 cents a share on sales of $1.11 billion. The company said it now expects full-year earnings to fall within a range of $2.35 to $2.45 a share, down from its previous estimate of $2.46 to $2.61 a share. The company's stock ended trading Wednesday up 1% to $26.75.
Qualcomm posts profit gain as revenue grows 17% (4:12 pm ET)
SAN FRANCISCO (MarketWatch) - Qualcomm Inc. said Wednesday its second-quarter profit rose as sales grew 17% compared to the same period a year earlier. San Diego-based Qualcomm (QCOM: news, chart, profile) said net income for the period ended in March rose to $766 million, or 47 cents a share, from $726 million, or 43 cents a share in the same period a year ago. Meanwhile revenue rose to $2.61 billion. Excluding special items, Qualcomm said earnings for the quarter rose to 54 cents a share. Analysts had estimated Qualcomm would post earnings excluding special items of 52 cents a share, and $2.5 billion in revenue, according to FactSet Research.
Amazon earnings jump 30% in first quarter(4:05 pm ET)
SAN FRANCISCO (MarketWatch) -- Amazon.com said earnings for the first quarter jumped 30% from the previous year thanks to strong sales growth. For the quarter ended March 31, the online retailer (AMZN: news, chart, profile) reported earnings of $143 million, or 34 cents a share, compared to earnings of $111 million, or 26 cents a share, for the same period last year. Revenue grew 37% to $4.13 billion for the quarter. Analysts were expecting earnings of 33 cents a share on revenue of $4.09 billion, according to consensus estimates from FactSet Research.
Apple confirms P.A. Semi purchase(2:04 pm ET)
SAN FRANCISCO (MarketWatch) -- Apple Inc. (AAPL: news, chart, profile) on Wednesday confirmed it has acquired P.A. Semi, a privately held, Santa Clara, Calif.-based chipmaker. Apple spokesman Steve Dowling said, "Apple buys smaller tech companies from time to time," and had no comment on an acquisition price. Reports said Apple paid $278 million for P.A. Semi, which makes power-efficient chips that are mostly used in networking and telecom equipment. The deal comes ahead of Apple's second-quarter report, due after the market close.
Energy shares dip ahead of weekly inventory data(9:35 am ET)
NEW YORK (MarketWatch) -- Energy shares dipped slightly in early action Wednesday ahead of key weekly petroleum inventory data. The Amex Oil Index (XOI: news, chart, profile) fell 0.3% to 1,509. The Amex Natural Gas Index (XNG: news, chart, profile) subtracted 0.4% to 1,508. June oil futures fell $1.07 to $117, the day after May futures spike to $119.90. Exxon Mobil (XOM: news, chart, profile) fell 36 cents to $94.03. Bloomberg reported that the oil giant could face a strike by union workers in Nigeria.
VMware, EMC, Apple lead early tech gains(9:36 am ET)
SAN FRANCISCO (MarketWatch) -- Technology stocks largely rose in early trading Wednesday, with big gains from VMWare Inc. (VMW: news, chart, profile) and EMC Corp. (EMC: news, chart, profile) . VMware shares rose $6.36, or more than 10%, to $64.18 after reporting strong quarterly results late Tuesday, while EMC (EMC: news, chart, profile) rose 66 cents a share, or more than 4%, to $16.24 following an upbeat earnings report early Wednesday. Apple Inc. (AAPL: news, chart, profile) rose $2.53 a share to $162.72 ahead of its quarterly report, due after the market close. The tech-heavy Nasdaq Composite Index ($COMPQ: news, chart, profile) rose 12.6 points to 2,389.
Cullen/Frost Bankers first-quarter profit rises(9:16 am ET)
NEW YORK (MarketWatch) -- Cullen/Frost Bankers Inc. (CFR: news, chart, profile) said Wednesday that its first-quarter net income rose 11% to $52.8 million from $47.3 million, while earnings per share rose to 89 cents from 78 cents. On average, analysts polled by FactSet Research expected the San Antonio, Texas, financial-services holding company to earn 92 cents in the period.
Freeport-McMoRan first-quarter profit doubles(8:56 am ET)
NEW YORK (MarketWatch) -- Freeport-McMoRan Copper & Gold Inc. (FCX: news, chart, profile) said Wednesday that first-quarter net income more than doubled amid near-record prices for gold and other metals as year-earlier results were weighed down by costs associated with the company's Phelps Dodge purchase. Freeport also raised its 2008 cash-flow forecast. The mining giant reported net income of $1.1 billion, or $2.64 a share, up from $476 million, or $2.02 a share, a year earlier. Revenue rose to $5.67 billion from $2.25 billion. Analysts' mean estimates were for per-share earnings of $2.12 on revenue of $4.69 billion, according to a poll by Thomson Reuters.
Arrow Electronics first-quarter profit declines(8:52 am ET)
NEW YORK (MarketWatch) -- Arrow Electronics Inc. (ARW: news, chart, profile) said Wednesday that its first-quarter net income fell 11% to $85.9 million, or 69 cents a share, from $96.3 million, or 77 cents a share, the year before, due in part to "challenging" market conditions, especially for its enterprise computing solutions business. Excluding items, earnings were 79 cents a share. Analysts surveyed by Thomson Reuters expected earnings of 82 cents a share. Analysts estimates usually exclude items. The Melville, N.Y., electronic component and computer product distributor said sales increased 15% to $4.03 billion from $3.5 billion the previous year. Arrow said it expects earnings, excluding items, of 74 cents to 80 cents a share in the second quarter, on sales of $3.85 billion to $4.15 billion.
Affiliated Managers' first-quarter profit falls 10%(8:49 am ET)
NEW YORK (MarketWatch) -- Affiliated Managers Group Inc. (AMG: news, chart, profile) said Wednesday that its first-quarter net income fell 10% to $32.8 million, or 90 cents a share, from $36.6 million, or 93 cents a share, a year earlier. On a cash basis, a non-GAAP measure, earnings increased to $56 million, or $1.46 a share, from $55.4 million, or $1.43 a share, a year ago. The Boston asset management company said revenue increased 8.1% to $335 million form $309.8 million a year ago. On average, analysts polled by Thomson Reuters expected earnings of $1.46 a share on revenue of $327 million. Affiliated Managers shares closed Tuesday down 4% at $94.70.
Genzyme profit slips, sales rise(8:49 am ET)
NEW YORK (MarketWatch) -- Genzyme Corp. (GENZ: news, chart, profile) on Wednesday said first-quarter net income fell to $145.3 million, or 52 cents a share, from $158.2 million, or 57 cents a share, in the year-ago period. Results in the most recent quarter include an after-tax charge of $56.5 million for the premium related to Genzyme's investment in Isis Pharmaceuticals Inc. Revenue rose to $1.1 billion from $8.8 million. Analysts, on average, expected it to earn 90 cents a share on revenue of $1.09 billion, according to FactSet Research. Genzyme expects 2008 non-GAAP earnings of about $3.90 a share, compared with prior guidance of $4 a share. This adjustment reflects the delay in Food and Drug Administration approval of 2000L production capacity for Myozyme, the company said. GAAP earnings in 2008 are expected to be about $2.65 a share, compared with prior guidance of approximately $2.75 a share. GAAP figures include anticipated amortization and stock-compensation expenses and the effect of contingent convertible debt, the biotechnology company said. Genzyme backed its forecast for 20% growth in compound non-GAAP earnings per share through 2011. Non-GAAP earnings are projected to rise to about $7 a share by 2011, Genzyme said.
Sovereign's quarterly net rises after year-ago charges(8:48 am ET)
BOSTON (MarketWatch) -- Sovereign Bancorp Inc. (SOV: news, chart, profile) before Wednesday's opening bell reported first-quarter net income of $100.1 million, or 20 cents a share, compared with $48.1 million, or 9 cents a share, in the year-earlier period. The company's results in the first quarter of 2007 included charges related to an expense reduction initiative and balance sheet restructuring of $128.7 million, or 25 cents a share. Analysts polled by Thomson Financial had forecast profit of 21 cents a share, on average. "Sovereign's results for the first quarter demonstrate that we are continuing to make progress on our goals to reduce risk and improve the quality of our earnings stream," said Chief Executive Joseph Campanelli said in the earnings release. "The current turbulent financial markets provide a challenging credit environment which has resulted in elevated levels of non-performing assets and provisions for credit losses."
Parametric Technology net rises modestly (8:16 am ET)
NEW YORK (MarketWatch) -- Parametric Techniology (PMTC: news, chart, profile) said Wednesday it earned $18.8 million, or 17 cents a share in the third quarter, compared to $17.4 million, or 15 cents a share a year ago. Revenue rose to $257.8 million, from $228.1 million.
Ryder profit rises, sees "difficult" market for near-term(8:11 am ET)
NEW YORK (MarketWatch) - Ryder System Inc. (R: news, chart, profile) on Wednesday said first-quarter profit rose to $56.1 million, or 96 cents a share, from $51.3 million, or 84 cents a share, in the year-ago period. Revenue fell to $1.54 billion from $1.59 billion. Analysts, on average, expected it to earn 88 cents a share on revenue of $1.54 billion, according to FactSet Research. The transportation and supply chain management provider said it expects "current difficult industry and market conditions to continue for the near term." For the second quarter it expects to earn $1.10 to $1.20, and is targeting 2008 profit of $4.55 to $4.75 a share. The company said the low end of its forecast assumes the continued impact of current automotive strikes through the second quarter. Analysts polled by FactSet expect it to earn $1.16 a share in the second quarter and $4.58 a share for the year, on average.
Rockwell Automation second-quarter net falls(7:57 am ET)
NEW YORK (MarketWatch) -- Rockwell Automation Inc. (ROK: news, chart, profile) said Wednesday that its fiscal second-quarter net income fell sharply to $142.8 million, or 96 cents a share, from $729.3 million, or $4.45 a share, a year earlier. The Milwaukee industrial automation power provider said 2007 income included income from discontinued operations of $622 million, or $3.80 a share and restructuring charges of $27.7 million, or 17 cents a share. Rockwell Automation's revenue rose 17% to $1.41 billion from $1.21 billion, helped by foreign currency and acquisitions. On average, analysts polled by Thomson Reuters expected per-share earnings of $1.01 on revenue of $1.37 billion. Rockwell Automation reaffirmed its expectations for fiscal 2008 earnings of $4.25 to $4.45.
Teledyne Tech net income up 36%(7:52 am ET)
NEW YORK (MarketWatch) -- Teledyne Technologies Inc. (TDY: news, chart, profile) on Wednesday said first-quarter net income climbed 36% to %27.9 million, or 77 cents a share, from $20.5 million, or 57 cents a share in the year-ago period. The Thousand Oaks, Calif.-based electronics and communications specialist said revenue rose 21% to $301 million. Analysts surveyed by FactSet forecast earnings of 67 cents a share, on average. Teledyne Tech said it expects second-quarter net income of 72-74 cents a share, compared to the Wall Street target of 74 cents a share.
Foundation Coal Q1 net down 75%(7:17 am ET)
NEW YORK (MarketWatch) -- Foundation Coal (FCL: news, chart, profile) on Wednesday said first-quarter net income fell 75% to $6.1 million, or 13 cents a share, from $24.6 million, or 53 cents a share in the year-ago period. Revenue rose to $412 million from $395 million. Non-GAAP earnings fell to 19 cents a share from 54 cents a share. Strong global demand, limited supply and the weak dollar have resulted in a significant increase in U.S. coal exports, Foundation Coal said. The Linthicum Heights, Md. firm said coal exports will increase 27% to 35% in 2008 to a range of 75 to 80 million tons. Foundation Coal touched a fresh 52-week high on of $66.42 on Tuesday.
Foundation Coal Q1 net down 75%(7:17 am ET)
NEW YORK (MarketWatch) -- Foundation Coal (FCL: news, chart, profile) on Wednesday said first-quarter net income fell 75% to $6.1 million, or 13 cents a share, from $24.6 million, or 53 cents a share in the year-ago period. Revenue rose to $412 million from $395 million. Non-GAAP earnings fell to 19 cents a share from 54 cents a share. Strong global demand, limited supply and the weak dollar have resulted in a significant increase in U.S. coal exports, Foundation Coal said. The Linthicum Heights, Md. firm said coal exports will increase 27% to 35% in 2008 to a range of 75 to 80 million tons. Foundation Coal touched a fresh 52-week high on of $66.42 on Tuesday.
GlaxoSmithKline profit falls 9% during first quarter(7:07 am ET)
LONDON (MarketWatch) -- GlaxoSmithKline (GSK: news, chart, profile) (UK:GSK: news, chart, profile) said first-quarter profit fell to 1.37 billion pounds ($2.7 billion), down 9%, as revenue edged 2% higher to 5.69 billion pounds. The U.K. drugmaker's adjusted earnings of 25.6 pence a share was ahead of consensus estimates of 24.6 pence a share on revenue of 5.59 billion pounds. Generic competition and an Avandia sales drop hit results, Glaxo said, despite revenue growth from Advair, vaccines and consumer health products. It still sees a mid-single digit percentage decline in adjusted EPS at constant exchange rates for the year. Glaxo shares edged up 0.5% in London after the report.
Jakks Pacific profit slips 73%(6:41 am ET)
LONDON (MarketWatch) -- Toy manufacturer Jakks Pacific Inc. (JAKK: news, chart, profile) said Wednesday that its first-quarter net profit fell 73% to $877,000, or 3 cents a share, from $3.3 million, or 12 cents a share, a year earlier. Net sales for the quarter rose 5.5% to $130.9 million. Jakks said excluding litigation, product testing and restructuring costs it would have earned 13 cents a share. Analysts polled by FactSet were expecting earnings of 20 cents a share. The company said sales growth was driven by its Hannah Montana toys and its range of action figures.
Regis Corp. third-quarter profit $19 mln. after tax expense(6:38 am ET)
LONDON (MarketWatch) -- Hair-care industry giant Regis Corp. (RGS: news, chart, profile) on Wednesday said third-quarter net income totaled $18.968 million, or 44 cents a share. The figure includes a $3 million tax expense stemming from the repatriation of $30 million of international cash, the Minneapolis-based company said. Without the tax expense, earnings were 51 cents a share -- near the midpoint of Regis' previous guidance for the quarter, the company said. Regis saw net income of $5.328 million, or 12 cents a share, in the third quarter of 2007. The company said fourth-quarter earnings are forecast between 55 to 62 cents, compared to 62 cents a year ago.
Ambac swings to $1.66 billion loss(6:28 am ET)
LONDON (MarketWatch) -- Bond insurer Ambac Financial Group Inc. (ABK: news, chart, profile) said Wednesday that it swung to a first-quarter loss of $1.66 billion, or $11.69 a share, from a profit of $213.3 million, or $2.02 a share, a year earlier. The group attributed the loss to a pretax $1.73 billion mark-to-market loss on its exposure to credit derivatives and a $1.04 billion loss provision on its financial guarantee direct exposure to mortgage-related securities. Ambac said its operating loss per share was $6.93. Analysts polled by Thomson Financial had forecast a loss of $1.51 a share. The group said it continues to believe the capital it raised in the quarter will enable it to get through the credit market crisis. It added credit enhancement production in the quarter fell 87% to $40.5 million as it has written very little business since late 2007.

[3xBuBu]

Thursday, April 24

http://www.bloggingstocks.com/2008/04/24/before-the-bell-dow-cs-bac-pep-wen-mmm-mot/
Microsoft Q3 EPS Falls, But Beats Street, Sales Rise on Xbox Demand - Down 4%

Motorola 1Q loss widens as phone sales fall, The report sent shares down more than 5 percent, before they rebounded slightly.

Amgen Q1 profits nearly flat on declining sales, Amgen shares were up 54 cents in early after-hours trading after closing down 29 cents at $42.40 on the Nasdaq Stock Market before the results were announced.

Burrito-based eatery Chipotle Mexican Grill (CMG: View sentiment for CMGsentiment, chart, options) stepped into the earnings spotlight after yesterday's close. CMG earned 52 cents per share in the first quarter, thanks mainly to higher menu prices. Quarterly revenue increased 29% to $305.3 million. Both results topped the consensus estimate, which called for earnings of 48 cents per share on revenue of $298.4 million. The restaurateur added that it expects to open 130 to 140 new locations in 2008. CMG forecast long-term, per-share earnings growth at an annual rate of 25%, although it admits to facing "significant" challenges.

Samsung Electronics January-March net income jumps 37%(11:15 pm ET)
HONG KONG (MarketWatch) -- South Korea's Samsung Electronics Co. reported a 37% jump in first quarter net income Friday, as higher sales of its flat-screen televisions and mobile handsets helped expand operating profit margins. Net income for the January-March period rose to 2.19 trillion won ($2.2 billion) from 1.60 trillion won in the year-ago quarter. Quarterly revenue increased 19% to 17.11 trillion won. Operating profit margins expanded sharply to 13% from 8% in the year-ago quarter. Samsung shares surged 4.1% in Seoul trading.
Vale quarterly profit falls nearly 9% (7:04 pm ET)
SAN FRANCISCO (MarketWatch) -- Brazilian mining firm Vale (RIO: news, chart, profile) said Thursday evening that first-quarter net earnings fell 8.8% to $2.02 billion, or 41 cents a share, from a year ago as costs rose and the local currency strengthened. Last year, earnings were 2.22 billion, or 46 cents a share. Net revenue for the first quarter rose to $7.83 billion from 7.49 billion last year.
Eastman Chemical lifts profit 73% (6:25 pm ET)
SAN FRANCISCO (MarketWatch) -- Eastman Chemical Co. (EMN: news, chart, profile) reported late Thursday first-quarter net income rose to $133 million, or $1.68 a share, from $77 million, or 91 cents a share, a year ago. Excluding one-time items, earnings per share from continuing operations rose to $1.48 from $1.19. Revenue for the three months ended March 31 rose 6% to $1.73 billion from $1.64 billion. Analysts polled by FactSet had predicted the Kingsport, Tenn.-based company would report earnings of $1.34 cents a share on $1.73 billion in revenue. The company said that despite a weak U.S. economy, global demand and a diverse product line continued to boost the bottom line. The company predicted second-quarter earnings to be slightly higher than first quarter earnings. Shares rose 0.3% to close at $69.54 ahead of the report.
Western Digital sets fourth quarter earnings, sales targets(5:33 pm ET)
SAN FRANCISCO (MarketWatch) -- Western Digital Corp. (WDC: news, chart, profile) on Thursday said that for its fiscal fourth quarter it expects to earn between 77 cents and 83 cents a share. The computer hard-disk drive maker also forecast revenue in a range of $1.825 billion to $1.9 billion for the quarter. Analysts surveyed by FactSet Research had previously estimated Western Digital would earn 79 cents a share on $1.87 billion in revenue.
W.R. Berkley quarterly net flat; results miss expectations(5:18 pm ET)
SAN FRANCISCO (MarketWatch) -- W.R. Berkley Corp. (WRB: news, chart, profile) said late Thursday that first-quarter net income came in at $188 million, or $1.03 a share, in line with the same period a year earlier when the auto insurer made $188 million, or 93 cents a share. Operating income, which excludes net realized investment gains and losses, was $153 million, or 83 cents a share. W.R. Berkley was expected to make 93 cents a share in the period, according to the average estimate of 10 analysts in a FactSet survey.
Western Digital earnings more than double to $280 million.(4:52 pm ET)
SAN FRANCISCO (MarketWatch) -- Western Digital Corp. (WDC: news, chart, profile) on Thursday reported a fiscal third-quarter profit of $280 million, or $1.23 a share, on $2.1 billion in revenue. During the same period a year ago, the computer hard-disk drive maker earned $121 million, or 53 cents a share, on sales of $1.4 billion. Analysts surveyed by FactSet research had estimated Western Digital would earn $1.23 a share on $2.1 billion in sales. Western Digital said that it shipped 34.5 million disk drive units in the quarter, up from 24.5 million a year ago.
Synaptics earnings fall almost 47%, but revenue rises(4:45 pm ET)
SAN FRANCISCO (MarketWatch) -- Synaptics Inc. (SYNA: news, chart, profile) on Thursday reported a fiscal third-quarter profit of $3 million, or 12 cents a share, compared to earnings of $5.6 million, or 20 cents a share, during the same period a year ago. Revenue for the computer touchpad and interface technology company rose 23% to $78.9 million from $64.3 million in the year-ago period. Excluding share-based compensation and one-time items, Synaptics would have earned $8.8 million, or 35 cents a share. Analysts surveyed by FactSet Reserach had forecast Synaptics to earn 30 cents a share on $78.1 million in sales.
Interactive Brokers quarterly net more than doubles(4:41 pm ET)
SAN FRANCISCO (MarketWatch) -- Interactive Brokers Group (IBKR: news, chart, profile) said late Thursday that first-quarter net income came in at $27.2 million, or 66 cents a share, more than double the same period a year ago when the company made $12.8 million, or 31 cents a share. Net revenues were $528.4 million, up from $330.8 million in the same period of 2007, the brokerage firm reported. Interactive Brokers was expected to make 50 cents a share, according to three analysts in a Thomson Reuters survey. The company had a pre-tax profit margin of 70.8% during the latest period.
Arthur J. Gallagher earnings rise almost 26%(4:36 pm ET)
SAN FRANCISCO (MarketWatch) -- Arthur J. Gallagher & Co. (AJG: news, chart, profile) on Thursday reported first-quarter earnings from continuing operations of $49.2 million, or 18 cents a share, on revenue of $375.8 million. During the same period a year ago, the insurance brokerage earned $39.1 million, or 21 cents a share, on $375 million in revenue from continuing operations. Including discontinued operations, the company would have lost 7 cents a share.
Arch Capital quarterly net falls 4%(4:31 pm ET)
SAN FRANCISCO (MarketWatch) -- Arch Capital Group (ACGL: news, chart, profile) said late Thursday that first-quarter net income came in at $195.9 million, down 4% from a year earlier when the reinsurer made $205 million. Operating income available to common shareholders, which excludes net realized investment gains and losses, was $202 million, or $2.97 a share, the company reported. Arch Capital was expected to make $2.68 a share, according to the average estimate of 13 analysts in a Thomson Reuters survey.
American Express reports earnings of 85 cents per share(4:28 pm ET)
NEW YORK (MarketWatch) - Credit card company American Express (AXP: news, chart, profile) reported first-quarter net income fell to $991 million, or 85 cents a share, from $1.06 billion, or 87 cents a share, in the year ago period. On a continuing operations basis, it earned $974 million, or 84 cents a share. Revenue rose to $7.19 billion vs. $6.48 billion a year earlier. Analysts polled by Thomson Reuters had expected, on average, earnings of 81 cents a share for the quarter, on revenue of $7.34 billion. The company said it remains on track for 4% to 6% earnings per share growth.
Columbia Sportswear posts lower profit, warns on outlook(4:26 pm ET)
SAN FRANCISCO (Marketwatch) -- Columbia Sportswear Co. (COLM: news, chart, profile) on Thursday reported a first-quarter profit of $19.9 million, or 56 cents a share, down from $26.1 million, or 71 cents a share, a year earlier. Sales for the clothing retailer rose 3% to $297.4 million. Analysts polled by FactSet Research had expected a profit, on average, of 52 cents a share on sales of $283.8 million in sales. The company warned that its second-quarter and full-year profit are expected to fall below analyst targets.
Genworth quarterly net income falls 64%(4:25 pm ET)
SAN FRANCISCO (MarketWatch) -- Genworth Financial (GNW: news, chart, profile) said late Thursday that first-quarter net income came in at $116 million, down 64% from a year earlier when the insurer made $324 million. Net operating income, which excludes realized investment gains and losses, was $244 million, or 56 cents a share, the company reported. Genworth was expected to make 63 cents a share, according to the average estimate of 16 analysts in a Thomson Reuters survey. Genworth was hit by $128 million of net investment losses in the period. Roughly half of that was related to subprime and Alt-A mortgage securities, the company said.
Microsoft posts slight sales increase, tops profit estimates(4:20 pm ET)
SAN FRANCISCO (MarketWatch) - Microsoft Corp. said Thursday its fiscal third-quarter profit generally topped analysts' expectations despite seeing only a mild sales gain. Microsoft (MSFT: news, chart, profile) said net income for the period ended in March dipped to $4.38 billion, or 47 cents a share, from $4.93 billion, or 50 cents a share in the same quarter a year earlier. In the quarter a year earlier, however, Microsoft saw 12 cents in additional earnings a share thanks to a deferral from the prior period. Microsoft said revenue in the quarter rose to $14.45 billion from $14.39 billion. Analysts had estimated Microsoft would post earnings of 45 cents a share, and $14.57 billion in revenue, according to data from FactSet Research.
KLA-Tencor earnings drop 28% in third quarter(4:18 pm ET)
SAN FRANCISCO (MarketWatch) -- KLA-Tencor Corp. said earnings fell 28% in the third fiscal quarter amid an overal decline in revenue. The maker of semiconductor manufacturing equipment (KLAC: news, chart, profile) reported earnings of $111 million, or 61 cents a share, compared to earnings of $155 million, or 76 cents a share, for the same period last year. Excluding charges related to acquisitions and other items, the company said earnings would have been $121 million, or 67 cents a share. Revenue fell 16% to $602 million. Analysts were expecting earnings of 64 cents a share on revenue of $586.2 million, according to FactSet Research.
Chubb quarterly net slips 6%; results top analyst forecasts(4:17 pm ET)
SAN FRANCISCO (MarketWatch) -- Chubb Corp. (CB: news, chart, profile) said late Thursday that first-quarter net income came in at $664 million, or $1.77 a share, down 6% from a year earlier when the property and casualty insurer made $710 million, or $1.71 a share. Operating income, which excludes after-tax realized investment gains and losses, declined 2% to $620 million, or $1.65 a share. Chubb was expected to make $1.54 a share, according to the average forecast of 20 analysts in a Thomson Reuters survey.
Amgen reports slighly higher earnings on lower sales(4:14 pm ET)
BOSTON (MarketWatch) -- Amgen Inc. (AMGN: news, chart, profile) reported slightly higher first-quarter earnings early Thursday on lower sales. For the quarter ended March 31, Amgen posted net income of $1.14 billion, or $1.04 a share, compared with $1.11 billion, or 94 cents as share, for the same quarter in 2007. Excluding various charges, Amgen would have posted adjusted earnings of $1.12 v. $1.08. Revenue for the quarter dipped 2% to $3.61 billion. A poll of analysts by FactSet Research pegged the biotechnology giant at earning per share of $1.03, adjusted earnings of $1.05, on revenue of $3.61 billion.
FBR lifts 2008 profit target for Occidental (2:38 pm ET)
NEW YORK (MarketWatch) -- Occidental Petroleum (OXY: news, chart, profile) beat Wall Street targets on several fronts, FBR analyst Eitan Bernstein said in a note to clients on Thursday. Occidental Petroleum's first-quarter operating earnings of $2.20 a share were well above FBR's forecast of $2 a share, with the upside primarily due to better-than-expected exploration and production earnings, a much better chemicals segment margin, and a lower-than-expected corporate effective tax rate, Bernstein said. FBR raised its 2008 earnings estimate to $8.10 a share from $7.30 a share to reflect first-quarter results, second-quarter view and its updated natural gas price forecast.
Merrill shares up 8% on news of steady dividend (1:48 pm ET)
NEW YORK (MarketWatch) - Shares of investment banking behemoth Merrill Lynch & Co., Inc. (MER: news, chart, profile) rose nearly 8% in afternoon trading after the bank said Thursday that it will maintain its dividend of 35 cents per common share. The news that bank won't be trimming its payout to shareholders could be a sign that the financial powerhouse sees fewer credit worries on the horizon, and investors rallied on that prospect. Merrill said it will pay out its dividend on May 28 to shareholders of record on May 8.
Lufthansa's profit falls as year-ago boosted by asset sale(11:26 am ET)
LONDON (MarketWatch) -- Deutsche Lufthansa (DE:823212: news, chart, profile) , Europe's second-largest airline, on Thursday said first-quarter net profit fell to 57 million euros from 554 million euros earned in the year-earlier period, when the bottom line was boosted by a 499 million-euro exceptional gain from the sale of its stake in Thomas Cook. Operating profit jumped to 188 million euros from 36 million euros. Sales climbed 19% to 5.6 billion euros. The group confirmed its outlook that operating profit will improve further in 2008 even though "worldwide economic conditions have worsened perceptibly." It added that the improvement would only be possible if the market environment doesn't deteriorate further and it can continue to offset higher fuel prices as in previous years.
ConocoPhillips eyes more share repurchases with cash (11:08 am ET)
NEW YORK (MarketWatch) -- ConocoPhillips (COP: news, chart, profile) CEO Jim Mulva told analysts on a conference call on Thursday that the No. 3 U.S. oil giant may boost capital spending by about $1 billion this year because of rising costs. However, the company plans to stick to projects laid out earlier this year with an estimated price tag of about $15 billion. "If we find that we have more cash flow it's not really going to be going towards capital spending, it's going to be going towards more distributions to the shareholder in the form of share repurchase," Mulva said.
ConocoPhillips working to get Exxon to join Denali pipeline(11:03 am ET)
NEW YORK (MarketWatch) -- ConocoPhillips (COP: news, chart, profile) CEO Jim Mulva said Thursday he hopes Exxon Mobil (XOM: news, chart, profile) will join with it and BP (BP: news, chart, profile) on the proposed $30 billion Denali pipeline project to connect natural gas fields in the North Slope of Alaska to the lower 48 states. "Obviously it makes a lot of sense for all of us to be a participant, so we continue to work very closely obviously with BP, but we also work closely in everything that we do with Exxon Mobil," Mulva said in response to an analyst question on the company's conference call. "So hopefully in time I would like to see and would expect and hopefully that all three producers are part of the project."
Tech stocks post early losses(9:43 am ET)
SAN FRANCISCO (MarketWatch) -- Technology stocks put in a weak performance Thursday with the the tech-heavy Nasdaq Composite Index ($COMPQ: news, chart, profile) shedding 7 points to 2,399. Apple Inc. (AAPL: news, chart, profile) was among the decliners after the company delivered strong second-quarter results late Wednesday, but also gave a weaker-than-expected third-quarter forecast. Other declines came from Dell Inc. (DELL: news, chart, profile) , IBM Corp. (IBM: news, chart, profile) , Intel Corp. (INTC: news, chart, profile) and Oracle Corp. (ORCL: news, chart, profile) .
Energy stocks give up ground as oil dips(9:39 am ET)
NEW YORK (MarketWatch) -- Energy stocks fell along with crude prices on Thursday, as traders sifted through earnings updates from ConocoPhillips, Occidental Petroleum and others. The Amex Oil Index (XOI: news, chart, profile) fell 1.4% to 1,482. The Amex Natural Gas Index (XNG: news, chart, profile) dipped 1.3% to 670. ConocoPhillips (COP: news, chart, profile) dropped 0.7% to $83.86 after it said its profit rose 17% despite lower refining margins. Occidental Petroluem (OXY: news, chart, profile) dipped 70 cents to $83.79. Diamond Offshore (DO: news, chart, profile) dipped 3.3% to $131.45 after it fell short of Wall Street's earnings target. On the Nymex, crude futures subtracted $2.36 to trade at $115.94.
Sybase's first-quarter profit rises(9:37 am ET)
NEW YORK (MarketWatch) -- Sybase Inc.'s (SY: news, chart, profile) first-quarter net income rose to $24.2 million, or 27 cents a share, from $15.1 million, or 16 cents a share, a year earlier. Excluding stock-based compensation and restructuring costs, among other items, Sybase earned $35.3 million, or 39 cents a share. The Dublin, Calif., enterprise software company said revenue increased 13% to $260.1 million from $230 million. On average, analysts polled by Thomson Reuters expected per-share non-GAAP earnings of 34 cents on revenue of $249 million. Sybase expects second-quarter earnings of 30 cents to 35 cents a share and non-GAAP earnings of 40 cents to 45 cents a share on revenue of $255 million to $256 million. The company raised its expectations for 2008 earnings to a range of $1.51 to $1.56 a share from previous guidance of $1.50 to $1.55 a share. Sybase also increased its projections for non-GAAP income to a range of $1.94 to $1.99 a share from previous a previous forecast of $1.85 to $1.90 a share. Sybase anticipates 2008 revenue at the high end of previous projections of $1.08 billion to $1.09 billion. The company said stronger-than-expected performance in the first quarter and 4 cents a share of accretion from a recently completed Dutch tender caused to company to increase its guidance.
Avnet's third-quarter profit rises(9:27 am ET)
NEW YORK (MarketWatch) -- Avnet Inc.'s (AVT: news, chart, profile) fiscal third-quarter net income increased to $107.2 million, or 71 cents a share, from $105.2 million, or 70 cents a share, the previous year. Excluding items, earnings were 76 cents a share. Analysts polled by Thomson Reuters expected, on average, earnings of 75 cents a share. Analysts' estimates usually exclude items. The Phoenix semiconductor distributor said sales for the period ended March 29 increased 13% to $4.42 billion from $3.9 billion the year prior. For the fiscal fourth quarter, Avnet expects adjusted earnings of 79 cents to 83 cents a share on sales of $4.55 billion to $4.75 billion.
Imation's first-quarter profit falls 30%(9:25 am ET)
NEW YORK (MarketWatch) -- Imation Corp.'s (IMN: news, chart, profile) first-quarter net income fell 30% to $11 million, or 29 cents a share, from $15.7 million, or 44 cents, a year earlier, due in part to higher operating expenses. Excluding items, earnings were 33 cents a share, compared to 45 cents in the year-ago period. The Oakdale, Min., maker of removable data storage products said revenue increased 26% to $530.9 million from $421.9 million a year ago.
Brunswick 1st-quarter net fell 71% on 3% lower sales(9:22 am ET)
TEL AVIV (MarketWatch) -- Brunswick Corp., (BC: news, chart, profile) the Lake Forest, Ill., producer of boats and marine parts and accessories, bowling and fitness equipment, and billiards and other game tables, reported first-quarter net income fell 71% on 3% lower sales. Marine-product demand weakened, particularly in the U.S., and was partly offset by sales growth in bowling and fitness, Chairman and Chief Executive Officer Dustan E. McCoy said in a statement. Profit fell to $13.3 million, or 15 cents a share, from $45.6 million, or 50 cents, in the year-earlier period. Sales slipped to $1.35 billion from $1.39 billion. To reduce dealer boat inventories and increase efficiency, Brunswick is cutting production and consolidating manufacturing.
Synovus reports first quarter earnings of 24 cents a share(9:20 am ET)
NEW YORK (MarketWatch) - Synovus Financial Corp. (SNV: news, chart, profile) said Thursday its first quarter net income fell to $81 million, or 24 cents a share, from $100.4 million, or 30 cents a share, a year earlier, due in part to significant deterioration in its residential construction and residential development portfolios in and around Atlanta. On average, analysts polled by Thomson Reuters expected per-share earnings of 21 cents. Net interest income for the quarter dropped to $278.6 million compared to $282.9 million in the first quarter of 2007. Total assets at the end of the quarter rose to $33.8 billion, an increase of 7.5% for continuing operations from the same period last year. The company also upped its loan loss provisions for the quarter to $91 million, compared to $70.6 million last quarter, and $20.5 million during the same quarter last year, and said total loan growth grew 9.4% for the period.
Trina Solar to get silicon from Silfab under new pact(9:16 am ET)
NEW YORK (MarketWatch) -- Trina Solar Ltd. (TSL: news, chart, profile) on Thursday said it inked a long-term polysilicon supply agreement with Silfab S.p.A. Terms weren't disclosed. Silfab S.p.A. will supply Trina Solar with virgin polysilicon sufficient to produce approximately 225 megawatts of solar modules in aggregate over six years. Delivery of polysilicon at predetermined prices will start in the first quarter of 2010.

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Friday, April 25
Microsoft losses lead early tech weakness(10:07 am ET)
SAN FRANCISCO (MarketWatch) -- Technology stocks were mixed in early trading Friday, with Microsoft Corp. (MSFT: news, chart, profile) in the spotlight. Microsoft shares fell $1.46, or 4.6%, to $30.33 after the software giant gave a weak fiscal fourth-quarter outlook late Thursday. Other declines came from Dell Inc. (DELL: news, chart, profile) , Hewlett-Packard Co. (HPQ: news, chart, profile) and IBM Corp. (IBM: news, chart, profile) . The tech-heavy Nasdaq Composite Index ($COMPQ: news, chart, profile) fell 6 points to 2,422.
American Express leads financial sector trading(9:39 am ET)
NEW YORK (MarketWatch) -- American Express (AXP: news, chart, profile) paced gains in the financial sector early Friday as the stock tacked on more than 5% in opening trades. The Financial Select Sector SPDR (XLF: news, chart, profile) , which tracks the financial stocks in the S&P 500, rose about 1%. Other gainers included Synovus (SNV: news, chart, profile) , up 4%; Ambac (ABK: news, chart, profile) , up 4%; and Capitol One (COF: news, chart, profile) , up 3%. On the downside, Genworth Financial (GNW: news, chart, profile) shares fell 4% after reporting a 64% drop in quarterly net income.
Energy stocks rise with broad market, oil prices(9:37 am ET)
NEW YORK (MarketWatch) -- Energy stocks rose with the broad market in early action on Friday. The Amex Oil Index (XOI: news, chart, profile) rose 16 points to 1,488. The Amex Natural Gas Index (XNG: news, chart, profile) rose nearly 13 points to 676. ConocoPhillips (COP: news, chart, profile) rose 1% to $84.14 the day after reporting a first-quarter net income jump of 17%. Crude futures rose $1.81 to $118.27.
U.S. retail price of gasoline up 2 cents in last day(8:51 am ET)
NEW YORK (MarketWatch) -- U.S. average retail prices for a gallon of unleaded gasoline rose 2 cents to $3.58 from $3.56 in the last day, according to the Fuel Gauge Report published by AAA. Prices remain in record territory, up from $3.26 a gallon a month ago and $2.88 a gallon a year ago.
AOL reports higher page views(8:18 am ET)
NEW YORK (MarketWatch) -- Time Warner's (TWX: news, chart, profile) AOL unit on Friday said March, page views on its programming sites grew 28%, and they are up 35% year over year, with unique visitors climbing 11% year over year to 56.5 million. AOL said its programming sites hit an all-time high in March, after growing steadily for six consecutive months in both unique visitors and page views, according to data from comScore Media Metrix.
Hansen Natural sets $200 million buyback(8:11 am ET)
NEW YORK (MarketWatch) -- Hansen Natural Corp. (HANS: news, chart, profile) said Friday that its board approved a share repurchase of up to $200 million of common stock. The Corona, Calif.-based beverage maker said that it had about 93.4 million common shares outstanding as of April 14. Shares of Hansen closed



Earnings News
Goodyear swings to profit in 1Q, revenue rises
AP - 2 hours, 42 minutes ago

CLEVELAND - Goodyear Tire & Rubber Co. said Friday that it swung to a profit in the first quarter by focusing on higher-priced tires and strong international markets. But the company says it will cut tire production in North America, where sales have been sluggish.
View: Headlines Only | Include Summaries | Include Photos

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Bill Gates, chairman of Microsoft Corp., talks to the crowd of scientists as the keynote speaker for the seventh annual Institute for Systems Biology International Symposium in Seattle in this April 21, 2008, file photo. Microsoft Corp. is expected to report fiscal third-quarter earnings, Thursday, April 24, 2008. (AP Photo/Kevin P. Casey, File)
Microsoft 2009 outlook rosy, but investors trip on near-term AP - 2 hours, 50 minutes ago

SEATTLE - Microsoft Corp. is looking ahead to a strong fiscal 2009, with or without Yahoo.
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A newly built home sits vacant with a 'for sale' sign in front, in the Courtland Ridge development in Alpine, Utah, March 26, 2008. (George Frey/Reuters)
Consumers, companies flash recession warnings Reuters - Fri Apr 25, 4:30 PM ET

NEW YORK (Reuters) - The warning signs of a U.S. recession flashed again on Friday as consumer sentiment sank to its lowest in 26 years and corporate earnings appeared set for their third consecutive quarter of contraction.
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Traders work on the floor of the New York Stock Exchange in this April 1, 2008 file photo. McDermid/Files (Reuters)
Dow ends up 43 as many investors overcome economic worries AP - 2 hours, 49 minutes ago

NEW YORK - Wall Street ended its second straight winning week with a moderate advance Friday, overcoming concerns about consumer confidence and inflation.
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The headquarters of TeliaSonera in Stockholm. Swedish-Finnish telecommunications operator TeliaSonera, currently eyed as a possible acquisition target by France Telecom, reported strong first-quarter results Friday that beat analysts' expectations.(AFP/File/Janerik Henriksson)
TeliaSonera posts strong earnings, beats expectations AFP - Fri Apr 25, 1:41 PM ET

STOCKHOLM (AFP) - Swedish-Finnish telecommunications operator TeliaSonera, currently eyed as a possible acquisition target by France Telecom, reported strong first-quarter results Friday that beat analysts' expectations.
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A Goodyear tire shop in a file photo. Goodyear posted a quarterly profit on Friday as price hikes and increased sales of more expensive tires offset rising raw materials costs and a slowing U.S. economy. (Joshua Lott/Reuters)
Goodyear profit beats estimates, shares jump Reuters - Fri Apr 25, 12:32 PM ET

DETROIT (Reuters) - Goodyear Tire & Rubber Co posted a stronger-than-expected quarterly profit on Friday, driven by price increases, the sale of more expensive tires and favorable foreign exchange rates, sending its shares up 6.4 percent.
* Samsung Electronics 1Q profit up 37 pct., sales up 19 pct. AP - Fri Apr 25, 10:12 AM ET

SEOUL, South Korea - Samsung Electronics said Friday that net profit jumped 37 percent in the first quarter amid strong demand for mobile phones in emerging markets.
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A South Korean man looks at Samsung Electronics' products at its headquarters in Seoul, South Korea, Friday, April 25, 2008. Samsung Electronics said Friday that net profit jumped 37 percent in the first quarter amid strength in mobile phones and flat-screen televisions. (AP Photo/ Lee Jin-man)
Profit rises at Samsung, plunges at Toshiba AP - Fri Apr 25, 9:57 AM ET

SEOUL, South Korea - Samsung Electronics said Friday its profit rose 37 percent in the first quarter as strength in mobile phones and liquid crystal displays offset weakness in semiconductors.
* Auto sales going strong for Japanese AP - Fri Apr 25, 9:24 AM ET

TOKYO - Honda saw its profit slashed by a tax, while Mitsubishi racked up costs for closing an Australian plant. But Mazda — the smallest of Japan's five biggest automakers — emerged unscathed Friday to report booming profits for the January-March quarter.
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American Axle and Manufacturing CEO Dick Dauch speaks during the Reuters Autos Summit in Detroit, Michigan September 20, 2005. (Rebecca Cook/Reuters)
American Axle posts quarterly loss amid UAW strike Reuters - Fri Apr 25, 10:13 AM ET

DETROIT (Reuters) - American Axle & Manufacturing Holdings Inc posted a bigger-than-expected quarterly loss on Friday, hit by a strike at five U.S. plants, and it repeated threats to close the factories unless workers accept steep wage cuts.
* Nomura posts $1.48 billion loss from ties to bad US debt AP - Fri Apr 25, 9:13 AM ET

TOKYO - Nomura Holdings Inc., Japan's largest securities business group, posted a net loss of $1.48 billion Friday for the January-March quarter, largely because of ties to bad U.S. #

debt.
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Exxon Mobil Corporation Chairman and Chief Executive Rex Tillerson speaks at a news conference following the Exxon Mobil annual shareholders meeting in Dallas, Texas May 30, 2007. (Mike Stone/Reuters)
Record oil price to boost oil majors' profits Reuters - Fri Apr 25, 8:14 AM ET

LONDON (Reuters) - Exxon Mobil , Royal Dutch Shell (RDSa.L) (RDSa.L) and BP are expected to report bumper first-quarter profits next week, thanks to record crude prices, but $110 per barrel oil will also squeeze refining profits and delay a return to oil production growth.
# Coventry Health profit up 3 percent Reuters - Fri Apr 25, 9:55 AM ET

NEW YORK (Reuters) - Insurer Coventry Health Care Inc posted a 3 percent first-quarter profit increase on Friday, matching Wall Street estimates, helped by higher membership.
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A visitor using a mobile phone looks at a monitor at a Honda showroom in Tokyo, April 25, 2008. (Issei Kato/Reuters)
Honda tumbles on tax woes Reuters - Fri Apr 25, 7:17 AM ET

TOKYO (Reuters) - An unexpected tax bill sent Honda Motor Co's quarterly profit tumbling 86 percent, and Japan's No.2 carmaker warned of a weak year ahead due to a stronger yen, rising materials costs and a soft U.S. car market.
# Ericsson shares up jump 25 percent on 1Q report AP - Fri Apr 25, 6:59 AM ET

STOCKHOLM, Sweden - Wireless equipment maker LM Ericsson AB on Friday said its first-quarter profit fell 55 percent, which was better than expected, and the company's shares soared more than 25 percent.
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A man takes a photo of Honda's fuel cell-powered vehicle (FCV) during a press event in Tokyo Thursday, April 24, 2008 to display FCV cars developed by Japanese and foreign automakers prior to the G-8 summit in July in northern Japanese island of Hokkaido, where the eco-friendly vehicles will be in service. Honda Motor Co. reported an 86 percent plunge in profit for the January-March quarter because of a one-time corporate tax levied for its Chinese joint venture. But Japan's second biggest automaker reported a record profit for the fiscal year on booming overseas sales, despite the tax. (AP Photo/Katsumi Kasahara)
Sales strong at Japanese automakers despite some bumps AP - Fri Apr 25, 6:58 AM ET

TOKYO - Honda saw its profit slashed due to a tax dispute and Mitsubishi racked up costs for closing an Australian plant. But Mazda — the smallest of Japan's five biggest automakers — emerged unscathed Friday to report booming profits for the January-March quarter.
# Toshiba's net profit plunges AP - Fri Apr 25, 6:52 AM ET

TOKYO - Japanese electronics maker Toshiba said Friday its net profit plummeted a staggering 95 percent in the January-March quarter due to losses related to its exit from the next-generation video HD DVD business.
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A silhouette of a shopper is reflected in an advertisement board of Toshiba Corp's HD DVD at an electronics shop in Tokyo February 18, 2008. (Issei Kato/Reuters)
Toshiba Q3 drops on HD-DVDs, chips, growth muted Reuters - Fri Apr 25, 6:24 AM ET

TOKYO (Reuters) - Japanese electronics maker Toshiba Corp posted on Friday a better-than-expected 95 percent drop in quarterly profit amid tumbling chip prices and an exit from high-definition DVDs, and said it expected 2 percent earnings growth this year.
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Mitsubishi Motors Corp. President Osamu Masuko speaks at a news conference in Tokyo Friday, April 25, 2008. Mitsubishi Motors has reported a 37 percent drop in profit for the final fiscal quarter as costs for closing its plant in Australia and other losses in the U.S. eroded earnings. Tokyo-based Mitsubishi Motors recorded Friday a 13 billion yen, or US$125 million or euro79 million, profit for the January-March period, down from 20.6 billion yen the same period the previous year. (AP Photo/Koji Sasahara)
Mitsubishi Motors 4Q profit drops 37 percent AP - Fri Apr 25, 5:50 AM ET

TOKYO - Mitsubishi Motors' profit for its final fiscal quarter dropped 37 percent as costs for closing its plant in Australia and other losses in the U.S. eroded earnings, the Tokyo-based automaker said Friday.
# Honda 4Q profit plunges on one-time tax AP - Fri Apr 25, 5:39 AM ET

TOKYO - Honda's net profit in the January-March quarter plunged 86 percent compared with the same period a year ago because of a one-time corporate tax levied on its Chinese joint venture, the Japanese carmaker said Friday.
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Samsung Electronics' mobile phones and flat screens are displayed at the company's main office in Seoul April 25, 2008. Samsung Electronics, the world's top maker of memory chips, beat forecasts with a 37 percent rise in quarterly profit on stellar performances in flat screens and mobile phones, sending its shares 4 percent higher. (Lee Jae-Won/Reuters)
Samsung Elec profit jumps, outlook strong Reuters - Fri Apr 25, 4:27 AM ET

SEOUL (Reuters) - Samsung Electronics (005930.KS), the world's top maker of memory chips, beat forecasts with a 37 percent rise in quarterly profit on stellar performances in flat screens and mobile phones, sending its shares 4 percent higher.
# Toshiba Q4 falls 95 percent on weak chips Reuters - Fri Apr 25, 2:37 AM ET

TOKYO (Reuters) - Japanese electronics maker Toshiba Corp (6502.T) posted on Friday a better-than-expected 95 percent drop in quarterly profit as flash memory chip prices tumbled.

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ER Week 08-04-28
ER Week 08-04-21 #msg-28628341
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ER Week 08-02-04 #msg-26512376
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