Rant About ItRant About ItThe purpose of this blog is to educate every reader including me about trading in stocks by understanding the fundamentals and techicals behind it Articles
Earnings: OCZ Technology, Monsanto, Marriott International, Ruby Tuesday, L
2011-10-06 01:38:00 Inline Guidance OCZ Technology Raises Guidance, but Remains In-line with EstimatesWednesday, October 05, 2011 4:35:08 PM ET View: Complete Article | Historical Guidance OCZ Technology Group, Inc. (OCZ) said it expects fiscal 2012 revenue of $320.0 million to $350.0 million. The company's previous guidance was revenue of $310.0 million to $345.0 million and the current consensus estimate is revenue of $331.9 million for the year ending February 29, 2012. Monsanto Sees First Quarter Above Estimates; Fiscal Year In-lineWednesday, October 05, 2011 8:00:00 AM ET View: Complete Article | Historical Guidance Monsanto Co. (MON) said it expects first quarter earnings of $0.10 to $0.15 per share and fiscal 2012 earnings of $3.34 to $3.44 per share. The current consensus earnings estimate is $0.05 per share for the quarter ending November 30, 2011 and $3.41 per share for the year ending August 31, 2... More About: International , Ruby , Earnings
Earnings: Pozen, Mindspeed Technologies, Acme Packet, Radware, Global Payme
2011-10-05 16:11:00 Positive GuidanceGlobal Payments Raises Earnings GuidanceTuesday, October 04, 2011 4:01:00 PM ET View: Complete Article | Historical GuidanceGlobal Payments, Inc. (GPN) said it now expects fiscal 2012 GAAP earnings of $3.13 to $3.20 per share and continues to expect revenue of $2.10 billion to $2.15 billion. The company's previous guidance was earnings of $3.02 to $3.09 per share and the current consensus earnings estimate is $3.11 per share on revenue of $2.12 billion for the year ending May 31, 2012. Inline GuidanceRadware Narrows Guidance Lower, but Remains Above EstimatesTuesday, October 04, 2011 8:31:00 AM ET View: Complete Article | Historical GuidanceRadware Ltd. (RDWR) said it now expects third quarter non-GAAP earnings of $0.33 to $0.34 per share on revenue of $42.0 million to $42.2 million. The company's previous guidance was for earnings of $0.33 to $0.35 per share on revenue ... More About: Technologies
September Private-Sector Jobs +91K Vs Expected +75K
2011-10-05 15:30:00 Private businesses added slightly more than expected jobs in September, according to a report released Wednesday. But large companies cut jobs and thanks mostly to two enterprises cutting staff, layoff announcements last month jumped to the highest number in more than two years.Private-sector jobs in the U.S. rose by 91,000 last month, according to a national employment report published by payroll giant Automatic Data Processing Inc. (ADP) and consultancy Macroeconomic Advisers. Economists surveyed by Dow Jones Newswires had expected ADP would report a September gain of just 75,000. The August data were revised down to show a rise of 89,000 versus 91,000 reported a month ago. The ADP survey tallies only private-sector jobs, while the Bureau of Labor Statistics' nonfarm payroll data, to be released Friday, include government workers.Economists surveyed by Dow Jones Newswires expect total nonfarm payrolls rose by only 60,000 slots in September after the number of jobs were unchanged ... More About: Economy , Jobs , Employment , Private
ECB Trichet: Not In Favor Of Bailout Funds Refinanced By ECB
2011-10-04 17:31:00 The euro zone's economic growth is likely to be "very moderate" in the second half of 2011, with risks "to the downside," Euro pean Central Bank President Jean-Claude Trichet said Tuesday. "We expect very moderate real GDP growth in the euro area in the second half," Trichet said at a hearing of the European Parliament's economic and monetary affairs committee in Brussels. Trichet said inflation is likely to stay above 2% in the coming months before falling below that level next year. Medium and long-term inflation More About: Economy , Inflation
Market News: Deutsche Bank, UBS, Google TV, Greece, AMR Crash Alert, IPO Ma
2011-10-04 17:29:00 Melancholy start to Q4. Greece 's admission that it will miss its budget-deficit targets roiled markets Monday as stocks kicked off Q4 on a sour note, with the S&P falling 2.85% to a 13-month low of 1,099.23, led by weakness in bank stocks. Morgan Stanley (MS) fell 7.6% and Bank of America (BAC) dived 9.6% as traders worried about counterparty risk if Europe continues to deteriorate. Futures are near session lows at 7:00, with benchmark S&P -0.8% to 1078, reflecting broader losses across Europe.Europe double-dip? S&P dropped its 2012 outlook for Europe growth - for the second time in five weeks - to 1.1% from 1.5%, and now pegs the risk of a double-dip recession at 40%. Recent data "point to a fresh deterioration in the business climate," S&P said, not only in debt-strapped countries, "but also in the core countries of the eurozone and in the U.K." In a report today, Goldman said it now expects the eurozone to sink into a mild recession in Q4.Deutsche Bank scraps pro... More About: News , Google , Market
Earnings: ClickSoftware, Focus Media, Datalink, Wolverine World Wide, Vites
2011-10-04 17:24:00 Positive GuidanceClickSoftware Technologies Raises GuidanceMonday, October 03, 2011 5:30:00 AM ET View: Complete Article | Historical GuidanceClickSoftware Technologies Ltd. (CKSW) said it expects third quarter revenue of $22.7 million to $23.5 million. The current consensus estimate is revenue of $21.0 million for the quarter ending September 30, 2011. The company also said it now expects 2011 revenue of $85.0 million to $87.0 million. The company's previous guidance was revenue of $81.5 million to $85.0 million and the current consensus estimate is revenue of $83.4 million for the year ending December 31, 2011. Inline GuidanceTeam ReaffirmsMonday, October 03, 2011 4:05:07 PM ET View: Complete Article | Historical GuidanceTeam, Inc. (TISI) said it continues to expect fiscal 2012 earnings of $1.45 to $1.60 per share. The current consensus earnings estimate is $1.55 per share for the year ending... More About: Media , World , Wide , Earnings , Focus
Eastman Kodak Weighing Options Including A Bankruptcy Filing...
2011-10-01 10:26:00 End of an era!!Eastman Kodak Co. (EK), the unprofitable 131-year-old camera maker, is weighing options including a bankruptcy filing because of concerns raised by possible bidders for its patent portfolio, said three people with direct knowledge of the process. Some potential buyers of the patents are reluctant to proceed with bids because a purchase may amount to a so-called fraudulent transfer if Kodak becomes insolvent, said the people, who asked not to be named because the talks are private. A number of suitors, such as Google Inc. (GOOG), have signed confidentiality agreements to examine the assets, said these people. If a sale were judged a fraudulent transfer, creditors could later sue for more money, said one of the people. A bankruptcy filing may help clear the way for the patent sale, said the people. The sale could fetch about $3 billion, according to estimates from MDB Capital Group. Kodak has discussed its options with law firms Kirkland & Ellis LLP a... More About: Bankruptcy , Options
Earnings: Arch Coal, Key Technology, Ingersoll Rand, Alpha and Omega Semico
2011-10-01 10:12:00 Negative GuidanceArch Coal Lowers GuidanceFriday, September 30, 2011 4:32:00 PM ET View: Complete Article | Historical GuidanceArch Coal, Inc. (ACI) said it expects 2011 earnings of $1.00 to $1.40 per share. The company's previous guidance was earnings of $1.75 to $2.15 per share and the current consensus earnings estimate is $2.02 per share for the year ending December 31, 2011.Key Technology Guides Below EstimatesFriday, September 30, 2011 9:30:06 AM ET View: Complete Article | Historical GuidanceKey Technology Inc. (KTEC) said it expects fourth quarter revenue of approximately $26.3 million. The current consensus estimate is revenue of $29.8 million for the quarter ending September 30, 2011.Sun Healthcare Guides Below EstimatesFriday, September 30, 2011 8:30:34 AM ET View: Complete Article | Historical GuidanceSun Healthcare Group Inc. (SUNH) said it expects 2011 ... More About: Alpha , Earnings
Market News: Eurozone Inflation, Morgan Stanley's CDS, DOJ Into Chinese Boo
2011-09-30 15:53:00 Eurozone inflation picks up. The EU's statistics office estimates the eurozone's inflation rate has risen to 3% in September - up from 2.5% in August, ahead of economist expectations for a 2.5% rate, and representing the largest increase in consumer prices since October 2008. The data makes it even less likely the ECB will cut interest rates at its October 6 meeting, given its mandate of keeping inflation below 2%.Morgan Stanley's CDS spread soars. The cost of acquiring credit-default swaps to insure Morgan Stanley's (MS) debt has soared to 456bp, higher than the cost of buying swaps for some major French and Italian banks. Morgan Stanley's CDS spread is still well below a post-Lehman peak of 1300bp, but nonetheless at its highest level since March 2009, as fears of French bank exposure heighten investor caution.S&P and DJIA under one roof? Standard & Poor's owner McGraw-Hill (MHP) and CME Group (CME), owner of Dow Jones Indexes, are in advanced talks to... More About: News , Market , Inflation , Chinese
Market News: German Vote, Amazon Fire, Motorola deal, HP Hires Goldman, AMD
2011-09-29 17:47:00 Germany backs expanded ESFS. The German parliament approved increasing the size and flexibility of the ESFS. The winning margin in the Bundestag was a comfortable 523 to 85, while three members abstained. The vote marks an important victory for German Chancellor Angela Merkel, as she faces internal and external criticism over Germany's bailout efforts.Targeting iPad: Ready, aim, Fire. Amazon .com (AMZN) unveiled its much-anticipated Kindle Fire tablet, featuring a 7-inch display and costing only $199 - $50 less than the Nook Color (BKS) and $300 less than the cheapest iPad (AAPL). The tablet will run on Android (GOOG), but nonetheless act like a "souped-up Kindle." Amazon also will roll out a basic $79 version of its traditional Kindle e-reader and touchscreen versions at $99 and $149, which might prime it to take a bite out of Apple.A longer look at Motorola deal. The Justice Department's antitrust division asks Google (GOOG) and Motorola Mobility (MMI) for more info... More About: News , Market , German
Market News: iPhone5, Greek fate, Housing market, Euro banks...
2011-09-29 03:32:00 Risk on, then off, then on... Stocks surged Tuesday but gave back half of their gains in the final hour following reports of a split in the eurozone over terms of the next Greece bailout (more below). Treasury prices continued their slide, sending 10-year yields back to 2%. It was risk-on in commodities, as gold and oil rose sharply. Shaking off early weakness, futures point to a strong open.Troika audit to decide Greek fate. Greece faces a new test today as troika auditors head for Athens, which could lead to parts of Greece's ?109B rescue being reopened: "We have to wait and see what the troika finds," German Chancellor Merkel said, "it will tell us (whether) we will have to renegotiate or not." Greece's second bailout would impose a 21% loss on private bondholders, but many economists believe a 50% loss is necessary to make the country's debt viable. The FT reported yesterday that seven eurozone states are demanding private creditors take a bigger haircut on Gree... More About: News , Market , Euro , Banks
Earnings: Titan International, Actuant, Family Dollar, McCormick, AMD
2011-09-29 03:23:00 Inline Guidance Titan International Raises Guidance to be Closer to EstimatesWednesday, September 28, 2011 6:25:00 PM ET View: Complete Article | Historical Guidance Titan International Inc. (TWI) said it now expects 2011 revenue of approximately $1.40 billion. The company's previous guidance was revenue of $1.20 billion to $1.35 billion and the current consensus revenue estimate is revenue of $1.45 billion for the year ending December 31, 2011. Actuant Sees First Quarter Revenue Below EstimatesWednesday, September 28, 2011 7:30:01 AM ET View: Complete Article | Historical Guidance Actuant Corp. (ATU) said it expects first quarter earnings of $0.40 to $0.45 per share on revenue of $365.0 million to $375.0 million. The current consensus earnings estimate is $0.44 per share on revenue of $387.9 million for the quarter ending November 30, 2011. The company also said it expects 2012 earnings ... More About: Family , Dollar , Earnings
Market News: Adobe Systems, Philips, FedEx, Jabil...
2011-06-23 05:16:00 Among the companies whose shares are actively trading in the session are FedEx Corp. (FDX), Adobe Systems Inc. (ADBE) and Royal Philips Electronics NV (PHG, PHIA.AE).The head of FedEx ($92.17, +$3.04, +3.41%) said Wednesday that near-term economic weakness was "temporary", with anticipated expansion in the industrial sector helping the world's largest air cargo carrier guide to fiscal 2012 earnings above analysts' expectations. Adobe Systems' ($30.37, -$1.64, -5.12%) fiscal second-quarter profit rose 54% as the software company benefited from strong demand for its Web analytics products, but a tepid growth forecast disappointed Wall Street. Philips ($23.49, -$2.56, -9.83%) Wednesday warned of a significant drop in second-quarter operating profit at its lighting and consumer lifestyle divisions, which have been hit by weak consumer demand and stalling construction activity across Western Europe. CarMax Inc.'s (KMX, $32.85, +$2.33, +7.62%) fiscal first-quarter earnings rose 25% as... More About: News , Market
Earnings: Booz Allen Hamiltion, DuPont, Modine Manufacturing, Navistar, Qui
2011-06-08 02:20:00 Positive Guidance Ulta Salon Guides Above EstimatesTuesday, June 07, 2011 4:01:01 PM ET View: Complete Article | Historical Guidance Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) said it expects second quarter earnings of $0.31 to $0.33 per share on revenue of $378.0 million to $384.0 million. The current consensus earnings estimate is $0.30 per share on revenue of $376.8 million for the quarter ending July 31, 2011. Oxford Industries Raises GuidanceTuesday, June 07, 2011 4:00:00 PM ET View: Complete Article | Historical Guidance Oxford Industries, Inc. (OXM) said it expects second quarter earnings of $0.48 to $0.53 per share on revenue of $172.0 million to $182.0 million. The current consensus earnings estimate is $0.53 per share on revenue of $179.9 million for the quarter ending July 31, 2011. The company said it expects fiscal year earnings of $2.15 to $2.25 per share on revenue of... More About: Earnings
Earnings: G-III Apparel, AutoChina International, PNM Resources, Camden Pro
2011-06-07 02:15:00 Inline Guidance G-III Apparel Reaffirms Fiscal Year GuidanceMonday, June 06, 2011 4:01:00 PM ET View: Complete Article | Historical Guidance G-III Apparel Group, Ltd. (GIII) said it expects second quarter earnings of $0.18 to $0.22 per share on revenue of approximately $215.0 million. The current consensus earnings estimate is $0.22 per share on revenue of $221.2 million for the quarter ending July 31, 2011. The company said it continues to expect fiscal year earnings of $3.15 to $3.25 per share on revenue of approximately $1.20 billion. The current consensus earnings estimate is $3.25 per share on revenue of $1.21 billion for the year ending January 31, 2012. Hudson Pacific Properties Lowers Guidance, but Remains In-line with EstimatesMonday, June 06, 2011 9:00:07 AM ET View: Complete Article | Historical Guidance Hudson Pacific Properties Inc (HPP) said it now expects 2011 funds from oper... More About: International , Resources , Earnings
Earnings: PDL BioPharma, Vera Bradley, Colfax
2011-06-02 02:46:00 Positive Guidance PDL BioPharma Guides Above EstimatesWednesday, June 01, 2011 7:00:00 AM ET View: Complete Article | Historical Guidance PDL BioPharma Inc (PDLI) said it expects second quarter revenue of approximately $128.0 million. The current consensus estimate is revenue of $125.7 million for the quarter ending June 30, 2011. Inline Guidance Vera Bradley Sees Second Quarter Above EstimatesWednesday, June 01, 2011 4:01:09 PM ET View: Complete Article | Historical Guidance Vera Bradley, Inc. (VRA) said it expects second quarter earnings of $0.27 to $0.29 per share on revenue of $95.0 million to $98.0 million. The current consensus earnings estimate is $0.26 per share on revenue of $94.9 million for the quarter ending July 31, 2011. The company said it expects fiscal year earnings of $1.27 to $1.30 per share on revenue of $430.0 million to $435.0 million. The current consensus e... More About: Earnings
Market News: Sony, Goldman Sachs, UBS, Shell....
2011-05-27 02:30:00 Sony forecasts net profit for FY 2012. Sony (SNE) has predicted it will swing to a net profit of ¥80B ($975M) in FY 2012 (.pdf) after three years of losses, although the company's outlook is less than analyst forecasts of ¥105B. Even so, some think Sony could be too ambitious, with one economist saying that "there's a lot of uncertainty and there is a risk they will come in below that expectation." Sony is battling to recover from the damage caused by the March earthquake, while the hacking of its PlayStation Network and other Web sites will hit operating profit by ¥14B this year. Sony gave the forecast along with its results for FY 2011, which it flagged earlier this week. Net losses widened to ¥259.6B from ¥40.8B in 2010 as revenue slipped 0.5% to ¥7.18T.More details emerge of massive Fed loans during crisis. Credit Suisse (CS), Goldman Sachs , (GS) and Royal Bank of Scotland (RBS) each borrowed at least $30B in 2008 from a Fed emergency lending scheme called singl... More About: News , Market , Sony , Shell
Top Small Cap Gainers: Clean Diesel Tech, Kimber Resources....
2011-05-27 02:28:00 No. Ticker Company Industry Market Cap RSI Price Change Volume 1CDTIClean Diesel Tech nologies Inc.Chemicals - Major Diversified30.32M73.367.6094.87%4,475,141 2KBXKimber Resources Inc.Gold134.28M65.091.7441.46%1,030,549 3TRMSTrimeris Inc.Biotechnology63.84M72.812.8514.92%707 ,898 4KKDKrispy Kreme Doughnuts, Inc.Restaurants598.90M78.358.8712.71%4,86 0,864 5RXIIRXi Pharmaceuticals CorporationBiotechnology20.02M61.131.0912 .37%3,882,819 6ACHNAchillion Pharmaceuticals, Inc.Biotechnology396.02M64.666.7811.33%1, 333,118 7EGHT8x8 Inc.Communication Equipment221.04M71.693.5410.62%3,298,226 8IMOSChipMOS TECHNOLOGIES (Bermuda) LTD.Semiconductor Equipment & Materials270.50M77.899.7910.62%358,166 9ZAGGZAGG IncorporatedSpecialty Retail, Other242.60M61.639.9110.48%2,188,427 10DYAXDyax Corp.Biotechnology206.30M64.382.0910.00%1 ,806,313 11CRYPCryptoLogic LimitedBusiness Software & Services23.88M63.551.858.82%536,290 12WOLFGreat Wolf Resorts, Inc.Resorts & Casinos97.57M69.153.018.09%533,472 13... More About: Small
Top Small Cap Gainers: As Dow Sets New Highs
2011-04-26 22:21:00 No. Ticker Company Industry Market Cap Price Change Volume 1KUTVKu6 Media Co., Ltd.Entertainment - Diversified194.50M6.5617.77%4,072,382 2HSTMHealthstream Inc.Internet Information Providers180.70M9.6016.50%416,741 3PRGXPRGX Global, Inc.Business Services160.01M7.6915.29%431,236 4VICLVical Inc.Biotechnology233.03M3.6913.54%2,567,5 93 5SMODSMART Modular Technologies (WWH) Inc.Semiconductor - Integrated Circuits519.27M9.2713.33%22,910,524 6WEBMWebMediaBrands IncInformation & Delivery Services55.07M1.6413.10%1,206,585 7USATUSA Technologies Inc.Business Services75.17M3.2010.73%6,575,549 8VITAOrthovita Inc.Medical Instruments & Supplies170.72M2.439.46%782,252 9AEZSAEterna Zentaris Inc. (USA)Biotechnology183.76M2.339.39%6,690,4 31 10RMTRRamtron International Corp.Semiconductor- Memory Chips82.72M3.218.81%799,265 11ZLCSZalicus Inc.Biotechnology250.17M3.058.54%3,019,16 1 12HNSNHansen Medical, Inc.Medical Appliances & Equipment188.65M3.768.05%3,890,575 13IMRSIMRIS, Inc.Medical Instru... More About: Sets , Small
Market News: Lawson, Ford, Netflix, UBS, Amazon?
2011-04-26 21:03:00 Lawson to be sold for $2B. GGC Software Holdings, an affiliate of Golden Gate Capital and Infor, has agreed to buy Lawson Software (LWSN) for around $2B, or $11.25 a share. This is below Lawson's closing price yesterday of $12.12. The deal comes after Lawson received an offer from Golden Gate and Infor earlier this year and looked for alternative buyers, but didn't receive a superior proposal.Ford has best Q1 in 13 years. Ford's (F) Q1 2011 net profit increased to $0.61 per share from $0.50 a year earlier in its best first-quarter performance since 1998. Ford's revenues rose 18% to $33.1B, helped by sales in new vehicles such as the Explorer. The company was profitable in all regions even as commodity costs rose. Ford ended the quarter with $16.6B in debt, down $2.5B from the beginning of the year. Premarket: F +3% (7:20 ET).Netflix tumbles on disappointing outlook. Netflix (NFLX) shares slumped 5.3% in post-market trading after the movie-rental company said that i... More About: News , Amazon , Market
Earnings Report: Local.com, Gartner, Veeco Instruments, Humana, Glu Mobile
2011-02-08 02:00:00 Inline Guidance FMC Sees First Quarter Below Estimates; 2011 In-lineMonday, February 07, 2011 5:55:00 PM ET View: Complete Article | Historical Guidance FMC Corp. (FMC) said it expects first quarter earnings of $1.35 to $1.50 per share and 2011 earnings of $5.35 to $5.75 per share. The current consensus earnings estimate is $1.55 per share for the quarter ending March 31, 2011 and $5.55 per share for the year ending December 31, 2011. BRE Properties Affirms FFO ForecastsMonday, February 07, 2011 4:45:00 PM ET View: Complete Article | Historical Guidance BRE Properties Inc. (BRE) said it expects 2011 funds from operations of $2.06 to $2.18 per share. The current consensus FFO estimate is $2.08 per share for the year ending December 31, 2011. Advent Software Sees 2011 Revenue In-lineMonday, February 07, 2011 4:15:38 PM ET View: Complete Article | Historical Guidan... More About: Mobile , Instruments , Report , Local , Earnings
Amazon.com 3Q Net Up 16% On Sales Jump; Spending Still Strong
2010-10-22 03:44:00 Amazon.com Inc.'s (AMZN) third-quarter earnings rose 16% as revenue continued to surge at the No. 1 Internet retailer by sales, but investors were unsettled because the company raised the possibility that operating income might decline in the current quarter. Seattle-based Amazon said operating expenses jumped 40% in the third quarter, in part because it was spending on a previously planned infrastructure expansion that includes 13 new fulfillment centers.During a conference call with analysts, Chief Financial Officer Tom Szkutak said the company had completed 10 of the centers and is planning to open more before the peak holiday shopping season. Amazon will continue to build infrastructure if it sees more growth, Szkutak said.The earnings come as Amazon continues to capture a disproportionate share of growth in the online retail market, which is seen rising 13% this year to $152 billion, according to eMarketer, a research group. To take advantage of that opportunity, Amazon is con... More About: Amazon , Sales , Spending , Earnings , Jump
Hot Stocks To Watch: Netflix, eBay, McDonald's, Hershey, Baxter
2010-10-21 16:44:00 Among the companies whose shares are actively trading in the session are Netflix Inc. (NFLX), eBay Inc. (EBAY) and McDonald's Corp. (MCD).Netflix's ($172.61, +$19.46, +12.71%) third-quarter earnings improved 26%, topping its expectations as revenue and margins grew and subscriber-acquisition costs fell. Subscriber-acquisition costs, a metric closely watched by investors in the online movie rental company, declined 26%. The churn rate--a measure of customer cancellations and free subscribers--decreased to 3.8% from 4.4%. EBay's ($27.75, +$2.09, +8.14%) evolution toward becoming a PayPal-focused company continued in the latest quarter as it reported better-than-expected results because of strength in its online payment business. According to eBay, PayPal ended the quarter with 90 million active accounts worldwide, adding more than a million new accounts each month during the quarter. EBay also announced a $2 billion stock buyback as well as plans to issue up to $1.5 billion in term... More About: Watch , Stocks , Ebay , Earnings
Top Equities Stories Of The Day
2010-10-21 15:58:00 ELI LILLY PROFIT RISES 38% Drugmaker's 3Q earnings climb to $1.3 billion, or $1.18 a share, as the company rebounds from a year-earlier quarter hamstrung by $549.8 million of charges, and revenue edges up 1.7% to $5.65 billion. US STOCK FUTURES GAIN ON EARNINGS OPTIMISM U.S. stock futures rise, as strong company earnings boost sentiment on Wall Street. A slew of heavyweights, including Caterpillar, McDonald's, and Travelers deliver earnings ahead of opening bell. GOLDMAN SACHS MAY REPAY $5B IOU TO BERKSHIRE Goldman Sachs considers paying back a $5 billion investment from Berkshire Hathaway that bolstered the securities firm during the worst of the financial crisis, people familiar with the situation tell The Wall Street Journal. TRAVELERS UPS GUIDANCE AFTER PROFIT RISES 7.5% Insurer raises its full-year guidance after 3Q results beat the consensus estimate of analysts. Travelers results are driven by higher investment gains and a near-total absence of the catastrophic hurricanes t... More About: Stories , Equities
Morgan Stanley reports 3rd quarter loss tied to changing value of bank's ow
2010-10-21 01:53:00 Morgan Stanley became the latest investment bank to report weaker results Wednesday from a trading slowdown during the summer.The New York-based bank reported a net loss during the third quarter as revenue fell 20 percent and because of some special one-time charges. Even stripping out the charges, adjusted earnings tumbled from the year-ago period.Morgan Stanley's CEO James Gorman said in a statement: "Our results in aggregate clearly do not reflect the true potential of Morgan Stanley's global client franchise and I am not satisfied with our overall performance."The bank's shares closed down a penny at $25.38 as broader markets rallied.Paul Zubulake, a senior analyst at Aite Group, said Morgan Stanley was up against the same problems other investment banks were facing. Economic, regulatory and political uncertainty all factored into a slowdown in trading and market activity, he said."There's just less risk-taking going on," Zubulake said.Morgan Stanley was hurt, like competito... More About: Morgan Stanley , Morgan , Changing , Earnings
US Economic Growth Continues At Modest Pace
2010-10-21 01:42:00 U.S. economic activity continued to rise modestly in September and early October, with growth picking up in several districts, according to a report released Wednesday by the Federal Reserve. Several sectors in some districts, however, showed continued signs of sluggishness, the Fed's latest beige book indicated.Housing markets remained weak, with most of the Fed's 12 regional districts reporting sales below those of a year ago, the Fed said."Home inventories were elevated or rising according to most District reports," the Fed said. The report comes as the Fed is widely expected by investors to announce new government bond purchases at its next meeting on Nov. 2-3 in a bid to boost the slowing recovery. Minutes from Fed policymakers last meeting Sept. 21 showed most officials believing that the central bank needed to undertake new measures to boost growth, given that inflation remains too low and unemployment too high.The U.S. central bank compiles the beige book eight ... More About: Growth , Modest , Economic , Pace
US Stocks Erase Most Of Previous Day's Losses
2010-10-21 01:36:00 U.S. stocks jumped Wednesday, erasing most of the previous day's bruising losses as a positive outlook from the financial sector and a spate of strong earnings from airlines and other bellwethers gave investors reasons for optimism. The Dow Jones Industrial Average added 129.35 points, or 1.18%, to finish at 11107.97, while the Standard & Poor's 500-stock index was higher by 12.27 points at 1178.17 and the Nasdaq Composite gained 20.44 points to 2457.39. Materials and energy stocks were two of the best performing sectors, a day after both were clobbered by fears over Beijing's attempts to slow the world's second-largest economy. Cliffs Natural Resources added 3.6%, Freeport McMoRan Copper & Gold gained 2.8%, and Massey Energy jumped 5.1% amid reports the Richmond, Va., miner is exploring a potential sale of the company. Transport stocks also soared, with the Dow Jones Transportation Average gaining 2.2% after a trio of airlines reported strong earnings. Delta Air Lines jumped 11... More About: Stocks , Erase
Delta Air Sees 4Q Profit As Sector Rallies
2010-10-21 01:34:00 The head of Delta Air Lines Inc. (DAL) said Wednesday that the European Union should help the region's carriers compete with fast-growing Middle East rivals. Richard Anderson, Delta's chairman and chief executive officer, is the first U.S. airline executive to address the competitive threat of carriers such as Emirates, Etihad and Qatar Airways, which are using their geographical position to take market share from established entrants on long haul international routes. European carriers including Deutsche Lufthansa AG (DLAKY, LHA.XE) and Air France-KLM (AFLYY, AF.FR)--a Delta partner in the SkyTeam alliance--have rallied against Middle East rivals, alleging they receive unfair subsidies. Emirates and others deny the charge. Anderson said on a conference call that the European Union should support airlines in the region by providing antitrust immunity for services to Asia. SkyTeam and the other two global alliances--Star and Oneworld--have benefited from immunity to cooperate on tr... More About: Profit , Earnings , Rallies
Altria 3Q Profit Rises 28% Amid Improved Sales
2010-10-21 01:33:00 Altria Group Inc.'s (MO) third-quarter earnings rose 28% as the tobacco giant benefited from higher prices for its cigarettes and as sales in its smokeless tobacco unit climbed. The results beat analysts' expectations. Altria, the maker of Marlboro cigarettes and Copenhagen smokeless tobacco, has in recent years offset falling cigarette volumes with higher prices. The U.S. cigarette industry has been hurt by bans on smoking in public places and higher taxes. But Altria has also benefited from growing demand for smokeless tobacco products. Highlighting the growing importance of smokeless products, Altria executives on a conference call said they are working with retailers to get better and increased displays for smokeless tobacco brands on retail shelves. Some of the added displays for smokeless will come from space previously taken by cigarette racks, the company said. Altria described the changes as a "reallocation of space" between cigarettes and smokeless products that comes in... More About: Sales , Profit , Altria , Earnings
Seagate Tech 1Q Profit Down 17% On Lower Margins
More articles from this author:2010-10-21 01:32:00 Seagate Tech nology Inc.'s (STX) fiscal first-quarter profit fell 17% on lower margins, and the computer disk-drive maker's results fell short of Wall Street's expectations. Seagate, one of the world's largest hard-drive makers, returned to profitability in the past year as demand rebounded from a drop during the recession. But the company, which is especially strong in higher-margin high-end drives used by corporate customers, in the previous quarter reported lower unit shipments and unfavorable pricing on disk drives at some capacity and blamed the debt crisis in Europe and slower consumer spending there and in the U.S. Conditions in the market have long been volatile, with competitors racing to introduce drives that store more data at ever-lower prices. Challenges include the rise of data-storage devices based on chips known as flash memory, which cost more but are compact and energy-efficient. Rival Western Digital Corp. (WDC) on Tuesday reported its fiscal first-quarter prof... More About: Seagate , Profit , Earnings , Lower 1, 2, 3, 4, 5, 6, 7 |
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