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Wednesday, October 29, 2008
Stocks In Focus For Thursday
MarketWatch
MarketWatch
SAN FRANCISCO -- Among the companies whose shares are expected to see active trade in Thursday's session are Exxon Mobil, Motorola, Sun Microsystems, and CBS.
Exxon Mobil Corp. (XOM) is projected to report third-quarter earnings of $2.38 a share, according to analysts surveyed by FactSet Research.
Motorola (MOT) is expected to post third-quarter earnings of a penny a share, according to a survey by FactSet Research.
Sun Microsystems (JAVA) is forecast to report a loss of 8 cents a share in the first quarter, to analysts polled by Thomson Reuters.
CBS Corp. (CBS) is likely to report third-quarter earnings of 41 cents a share, according to FactSet Research.
Analysts polled by FactSet Research predicted Alcatel-Lucent (ALU) will report earnings of 7 cents per American Depositary Shares in the third quarter.
Analysts surveyed by FactSet Research estimated Electronic Arts (ERTS) to post a loss of 7 cents a share in the second quarter.
McAfee (MFE) is expected to post third-quarter earnings of 49 cents a share, according to a survey of analysts by Thomson Research.
Colgate-Palmolive (CL) is projected to report earnings of 97 cents a share in the third quarter, according to analysts polled by FactSet Research.
CIGNA (CI) is forecast to post earnings of $1.06 a share in the third quarter, according to a consensus survey by FactSet Research.
CVS Caremark (CVS) is likely to post earnings of 59 cents a share in the third quarter, according to FactSet Research.
Analysts surveyed by FactSet Research predicted Liberty Media Corp. (LINTA) to post third-quarter earnings of 12 cents a share.
Hearst-Argyle Television (HTV) is expected to post earnings of 23 cents a share in the third quarter, according to a survey of analysts by FactSet Research.
Chesapeake Energy (CHK) is projected to post earnings of 88 cents a share in the third quarter, according to a FactSet Research survey.
Marathon Oil (MRO) is forecast to report third-quarter earnings of $2.32 a share, according to a Thomson Reuters survey.
KLA-Tencor (KLAC) is likely to post first-quarter earnings of 34 cents a share, according to analysts surveyed by Thomson Reuters.
Analysts surveyed by FactSet Research estimated Morningstar Inc. (MORN) to report earnings of 51 cents a share in the third quarter.
Odyssey Re Holdings Corp. (ORH) is forecast to post a loss of 20 cents a share in the third quarter, according to a survey by Thomson Reuters.
Riskmetrics Group (RMG) is projected to post third-quarter earnings of 10 cents a share, according to a consensus survey by FactSet Research.
Unum Group (UNM) is expected to post third-quarter earnings of 62 cents a share, according to a FactSet Research survey.
Eastman Kodak (EK) is likely to post earnings of 28 cents a share in the third quarter, according to a survey of analysts by Thomson Reuters.
Analysts estimated Energizer (ENR) to post fourth-quarter earnings of $1.17 a share, according to FactSet Research.
Diebold (DBD) is forecast to post earnings of 64 cents a share in the third quarter, according to FactSet Research.
Express Scripts (ESRX) is projected to report earnings of 78 cents a share in the third quarter, according to analysts polled by FactSet Research.
Waste Management (WMI) is expected to report earnings of 62 cents a share in the third quarter, according to a FactSet Research survey.
Analysts surveyed by FactSet Research predicted Callaway Golf (ELY) to post a loss of 9 cents a share in the third quarter.
Expedia (EXPE) is forecast to report earnings of 39 cents a share in the third quarter, according to a survey of analysts by FactSet Research.
Wynn Resorts is likely to post third-quarter earnings of 58 cents a share, according to a FactSet Research poll.
Monster Worldwide (MNST) is expected to post third-quarter earnings of 33 cents a share, according to a Thomson Reuters survey.
Chiquita Brands International (CQB) is projected to report a loss of 57 cents a share in the third quarter, according to FactSet Research.
Analysts see Avon Products (AVP) posting third-quarter earnings of 51 cents a share, according to FactSet Research.
After Wednesday's closing bell, Wells Fargo & Co. (WFC) said it has issued 25,000 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series D without par value, to the Treasury for a total of $25 billion. The issuance is part of the Troubled Asset Relief Program (TARP) Capital Purchase Program, under which the Treasury is investing in U.S. financial firms to stabilize the financial markets. The preferred stock pay cumulative dividends of 5% a year for the first five years and 9% annually thereafter. As part of the deal, the Treasury also received warrants to purchase 110.26 million shares of Wells Fargo's common stock at $34.01 a share.
Watch list
Allied Waste Inc. (AW) reported its third-quarter net income rose to $112.5 million, or 26 cents a share, up from $27.2 million, or 5 cents a share, a year ago. Excluding one-time items, adjusted earnings from ongoing operations were 28 cents a share, up from 24 cents a year ago. Revenue rose to $1.61 billion from $1.56 billion. Analysts polled by FactSet Research had predicted earnings of 26 cents a share on $1.59 billion in revenue.
Atmel Corp. (ATML) said its board rejected an offer to buy the company from Microchip Technology Inc. (MCHP) and ON Semiconductor (ONNN) . The board called the $5 a share, or $2.3 billion, offer "inadequate" for several reasons. "Atmel's Board has determined that Microchip and ON's highly conditional proposal significantly undervalues Atmel and would deprive Atmel stockholders of the greater value that can be achieved through the continued execution of the company's transformation plan," said David Sugishita, Atmel chairman, in a statement. See full story
Ameriprise Financial Inc. (AMP) said it swung to a third-quarter loss of $70 million, or 32 cents a share, from a profit of $237 million, or 83 cents a share, in the year-ago period. The company reported core operating earnings of $1.04 a share for the latest quarter. Revenue fell to $1.68 billion from $2.17 billion last year. Analysts surveyed by FactSet Research estimated a quarterly profit of 74 cents a share on revenue of $1.93 billion.
CA (CA) reported its fiscal second-quarter net income rose to $209 million, or 39 cents a share, from $137 million, or 26 cents a share, in the same quarter a year ago. Revenue increased to $1.11 billion from $1.07 billion. The company earned 41 cents a share on an adjusted basis. Analysts surveyed by FactSet Research had forecast the company to report earnings of 37 cents a share on revenue of $1.12 billion. The company also said it will buy back up to $250 million in common shares.
CME Group (CME) reported its third-quarter net income fell to $169 million, or $2.81 a share, from $202 million, or $3.87 a share, in the same quarter a year ago. The company earned $4.13 a share on an adjusted basis in the quarter. Revenue increased to $681 million from $565 million a year earlier. Analysts surveyed by FactSet Research had forecast CME Group to report earnings of $3.99 on revenue of $623.8 million.
Delta Air Lines Inc. (DAL) and Northwest Airlines Inc. (NWA) have combined to form the world's largest airline by traffic. On Wednesday, the Justice Department cleared Delta's acquisition of Northwest, the last barrier to the deal. The new airline will go by the Delta name and be headquartered in Atlanta.
DTE Energy Co. (DTE) said its third-quarter profit fell to $177 million, or $1.08 a share, from $197 million, or $1.19 a share, in the year-ago period. Analysts surveyed by FactSet Research estimated a quarterly profit of 88 cents a share. Revenue rose to $2.34 billion from $2.13 billion last year. The company estimates operating earnings of $2.80 to $3.20 a share for the year. Analysts forecast $2.97 a share.
Equity Residential (EQR) reported its third-quarter funds from operations rose to 65 cents a share from 58 cents a share in the year-ago period. Analysts polled by FactSet Research had forecast FFO of 63 cents a share. Its net income fell to $178.2 million from $457.7 million. Earnings available to common shares were 64 cents a share in the quarter compared with $1.62 a share a year earlier. Revenue increased to $538.3 million from $501.1 million, said the real estate investment trust.
Hanesbrands Inc. (HBI) said third-quarter net income fell to $15.9 million, or 17 cents a share, from $38.9 million, or 40 cents a share. Profit was hurt by restructuring charges and the bankruptcy of regional retailer Mervyn's. Hanesbrand, maker of Hanes underwear and Champion sportswear, said sales were unchanged from a year ago at $1.15 billion.
Hartford Financial Services (HIG) reported it swung to a third-quarter net loss of $2.6 billion, or $8.74 a share, from a net income of $851 million, or $2.68 a share, in the third quarter of 2007. Excluding most realized investment gains and losses, Hartford said it lost $422 million, or $1.40 a share, in the latest period. The insurer was expected to lose 59 cents a share, according to the average estimate of 17 analysts in a FactSet survey.
JDS Uniphase (JDSU) reported a fiscal first-quarter net loss of $16.4 million, or 8 cents a share, compared with a net loss of $6.9 million, or 3 cents a share, for the year-earlier period. Revenue was $380.7 million, up from $356.7 million last year. Adjusted income was 11 cents a share. Analysts expected the company to report earnings of 9 cents a share on revenue of $386.1 million, according to consensus survey by Thomson Reuters.
Maxim Integrated Products Inc. (MXIM) said its fiscal first-quarter profit fell to $67.6 million, or 21 cents a share, from $83.6 million, or 25 cents a share, in the year-ago period. Revenue fell to $501.2 million from $524.1 million last year. Analysts surveyed by FactSet Research estimated a quarterly profit of 26 cents a share on revenue of $503.6 million.
MetLife Inc. (MET) said its third-quarter net income came in at $630 million, down from $1.02 billion a year earlier. Income from continuing operations was $1.03 billion, or $1.42 per common share. Operating earnings, which exclude net realized investment gains and losses, were $639 million, or 88 cents a share. The insurance and annuity giant was expected to make $1.02 a share, according to the average estimate of 17 analysts in a FactSet survey. MetLife said the $2.3 billion it raised recently by selling new shares will be used for "potential strategic initiatives."
Murphy Oil Corp. (MUR) reported its third-quarter net income rose to $584.4 million, or $3.04 a share, from $199.5 million, or $1.04 a share, a year ago. Revenue rose to $8.19 billion from $4.78 billion. Analysts polled by FactSet Research had predicted the company would earn $2.78 a share on $6.93 billion in revenue.
Prudential Financial (PRU) said it lost $108 million, or 23 cents a share, in the third quarter, compared with a profit of $860 million, or $1.88 a share, a year earlier. Sales were $6.15 billion, down slightly from $6.78 billion a year ago. The company said operating income, excluding investment losses, was 74 cents a share. Analysts polled by FactSet Research had forecast the company would earn 96 cents a share.
RealNetworks Inc. (RNWK) swung to a net loss of $4.5 million, or 3 cents a share, compared to earnings of $4.3 million, or 3 cents a share, for the same period last year. Revenue rose 5% to $152 million. Analysts were looking for a net loss of 3 cents a share on revenue of $153.5 million, according to consensus estimates from Thomson Reuters.
Sanmina-SCI Corp. (SANM) reported a fourth-quarter profit of $22,000, or breakeven on a per-share basis, compared with a loss of $1.07 billion, or $2.03 a share, a year ago. Excluding one-time items, Sanmina said it would have earned $24 million, or 5 cents a share. By that measure, the company met the earnings estimates of analysts surveyed by FactSet Research. Revenue totaled $1.7 billion versus $1.75 billion. The electronics contract manufacturer also said it promoted Hari Pillai to the positions of president and chief operating officer.
Staples Inc. (SPLS) said it expects to report third-quarter earnings of 21 cents to 22 cents a share. Excluding one-time charges, the company forecast 41 cents to 42 cents a share. Analysts surveyed by FactSet Research expect earnings of 41 cents a share.
Symantec Corp. (SYMC) said its fiscal second-quarter net income rose to $140 million, or 16 cents a share, from $50.4 million, or 6 cents a share in the same period a year earlier. Revenue rose to $1.52 billion from $1.42 billion. Excluding special items, security and storage software maker Symantec said earnings were 37 cents a share. Analysts had estimated the company would post earnings excluding special items of 35 cents a share for the quarter, and $1.54 billion in revenue, according to FactSet Research.
Oil refiner Tesoro Corp. (TSO) reported its third-quarter net income rose to $259 million, or $1.86 a share, from $47 million, or 34 cents a share, a year ago. The results benefited from a one-time accounting change that added 29 cents a share to the bottom line. Revenue rose to $8.7 billion from $5.9 billion. Analysts polled by FactSet had predicted the company would report earnings of $1.31 a share.
Visa Inc. (V) said it narrowed its fourth-quarter loss to $356 million, or 45 cents per share of its Class A stock, from a loss of $1.66 billion, a year ago. Excluding one-time items, the credit card company said it earned 58 cents a share during the quarter. Revenue came in at $1.71 billion, up from $1.46 billion a year ago. Analysts polled by FactSet Research were looking for a profit, on average, of 56 cents a share with revenue of $1.68 billion.
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FOX Translator
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.






