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Nokia (NOK) Takes Control of Alcatel-Lucent (ALU)
The French stock market authority, Autorité des Marchés Financiers (the "AMF"), today (1-4-16) published the interim results of the initial offer period of Nokia's public exchange offer for Alcatel-Lucent securities in France and in the United States (the "Offer"), and has declared the Offer successful.
Rajeev Suri, President and CEO of Nokia, said: "We are delighted that the Offer has been successful, and that Alcatel-Lucent's investors share our confidence in the future of the combined company. We will move quickly to combine the two companies and execute our integration plans. As of January 14, 2016, Nokia and Alcatel-Lucent will offer a combined end-to-end portfolio of the scope and scale to meet the needs of our global customers. We will have unparalleled R&D and innovation capabilities, which we will use to lead the world in creating next-generation technology and services."
http://www.streetinsider.com/Corporate+News/Nokia+%28NOK%29+Takes+Control+of+Alcatel-Lucent+%28ALU%29/11184378.html
http://www.streetinsider.com/ec_calendar.php
MCD
ETFC Charts
Shares of E-Trade Financial (ETFC) fell 1.2% on Tuesday following a media report Monday that TD Ameritrade Holding's (AMTD) board will discuss a potential bid for the online brokerage. Plum Creek Timber Co. (PCL) shares also slid 3.4% after reporting quarterly earnings of 27 cents a share, slightly below 28 cents a share projected by analysts in a FactSet Research survey. But the Financial Select Sector SPDR ETF (XLF) , which tracks the financial stocks in the S&P 500 (SPX) , edged up 0.1% as Regions Financial (RF) rose 2.4% and Morgan Stanley (MS) climbed 1.7%. American International Group (AIG) also was a notable gainer, adding 1.1%.
BRCM Post-ER Charts
38.20 +3.29 (9.42%)
Broadcom Corporation (BRCM) generated revenues of $1.796 billion in the second quarter of 2011, up 12% year over year but down 1% sequentially and slightly missed the Zacks Consensus Estimate of $1.806 billion.
In terms of end-markets, the Broadband Communications segment was up slightly less than expected, principally due to weakness in consumer electronics and some continued inventory issues in set-top box. The Mobile & Wireless segment was down as anticipated due to some softness at a number of key customers. The Infrastructure and Networking segment was roughly flat as expected.
On a product basis, product revenue grew 13.0% year over year to $1.74 billion. Income from the Qualcomm (QCOM) agreement was $51.7 million. License revenues declined 57% year over year to $3.0 million.
BIDU Post-ER Charts
Baidu Inc. (BIDU) shares rose 5% Tuesday at the market's open, after posting a 95% jump in second-quarter earnings the previous day. On Monday evening, the Chinese search engine reported earnings of RMB 1.6 billion ($252.6 million), or RMB 4.67 (72 cents) a share. Second-quarter revenue was RMB 3.4 billion ($528.4 million), up 78% from the year-ago period. Chinese Internet stocks have invited a flurry of investor interest recently. U.S. listed shares of Baidu have been up 70% this year.
NFLX Post-ER Charts
Shares of video rental provider Netflix Inc. (NFLX: news, chart, profile) were down 9% Tuesday morning, the biggest drop among S&P 500 companies, after it reported weaker-than-expected second-quarter revenue and issued third-quarter revenue estimates that fell far short of most analyst forecasts. Netflix earlier this month raised the price for its DVD-and-streaming-video combination plan to $15.98 from $9.99, prompting an angry response from many subscribers. Netflix now expects third-quarter revenue of $780 million to $805 million, vs. the $845.3 million average projection of analysts polled by Thomson Reuters.
Stocks/options performance today: NFLX BIDU APC BRCM ETFC
ER Play for VISA
ER 7-27-2011 Thursday AC
Bull Call Spread
VISA @89.52
Sell (1) Aug 85.0P @1.19
Buy (1) Aug 92.5C @1.30
Cost = 1.30-1.19 = 0.11 + Fee
ER Play for AMZN
ER 7-26-2011 Tuesday AC
Bearish Put Spread
AMZN @216.52
Sell (1) Aug 200.0P @3.60
Buy (1) Aug 215.0P @9.00
Cost = 9.00-3.60 = 5.40 + Fee
ER Play for APC
ER 7-25-2011 Monday AC
Bear Call Spread
APC @83.3
Sell (1) Aug 90.0C @0.90
Buy (1) Aug 92.5C @0.50
Credit = 0.90-0.50 = 0.40 - Fee
ER Play for BIDU
ER 7-25-2011 Monday AC
ER Play for NFLX
ER 7-25-2011 Monday AC
MSFT Post-ER Charts
As of 7-22-2011 gain = 2*0.55-0.38=0.72
As of 7-15-2011 @msg-1 cost = 0.00 +Fee
AAPL Post-ER Charts
Thursday, 21 Jul 2011 08:43pm EDT
Reuters reported that according to Bloomberg, Apple Inc. is in early talks to join the bidding for Hulu, the online video site that Walt Disney Co, News Corp and its other owners have put up for sale. Apple has begun preliminary discussions that may eventually lead to an acquisition.
Tuesday, 19 Jul 2011 04:30pm EDT
Apple Inc. reported a surge in earnings on Tuesday afternoon, solidly beating Wall Street’s estimates thanks to better-than-expected sales of the company’s iPhone and iPad product lines.
Earnings for Apple’s fiscal third quarter more than doubled from the same period last year, and the company generated more than $11 billion in cash from operations during the period.
When the stock resumed trading in after-hours action, it jumped about 7% to $402.73. The shares ended the regular session up 0.8% at $376.85.
“Obviously, it’s a pretty astounding number,” said analyst Scott Sutherland of Wedbush in an interview, speaking of the earnings growth.
The stock has jumped about 19% over the last month, in contrast to a flat first half of the year.
In the three months that ended June 25, Apple /quotes/zigman/68270/quotes/nls/aapl AAPL +5.44% said it earned $7.3 billion, or $7.79 a share, compared to $3.25 billion, or $3.51 a share, for the comparable period the previous year.
Revenue leaped 82% to $28.57 billion.
http://www.marketwatch.com/story/apple-earnings-surge-iphone-sales-beat-targets-2011-07-19
#msg-65248114 AAPL ER Play on July 15
As of 7-22-2011
Sept Options
Stocks to watch Monday: TI NFLX BIDU APC BRCM ETFC
http://stockcharts.com/freecharts/candleglance.html?TI,NFLX,BIDU,APC,BRCM,ETFC
http://www.marketwatch.com/story/stocks-to-watch-monday-ti-netflix-anadarko-2011-07-23
MSFT Post-ER Charts
Microsoft profit rises 30% in fourth quarter
Microsoft Corp. (MSFT) said Thursday its fiscal fourth-quarter net income rose to $5.87 billion, or 69 cents a share, from $4.52 billion, or 51 cents a share in the same period last year. The Redmond, Wash.-based software firm said revenue for the period ended June 30 rose 8% to $17.4 billion. Analysts polled by FactSet Research had expected Microsoft to report earnings of 59 cents a share, and $17.2 billion in revenue for the quarter.
As of 7-22-2011
SNDK Post-ER Charts
SanDisk earnings beat targets on revenue gain
SanDisk Corp. reported better-than-expected sales and earnings for the second quarter on Thursday afternoon, thanks to strong demand for its flash memory products. For the quarter ended June 30, SanDisk (SNDK) reported net income of $248 million, or $1.02 a share, compared to net income of $258 million, or $1.08 a share, for the same period the previous year. Earnings on a non-GAAP basis came in at $278 million, or $1.14 a share, for the recent period. Analysts were expecting earnings of 99 cents a share on revenue of $1.34 billion, according to consensus estimates from FactSet Research.
As of 7-22-2011
WDC Post-ER Charts
Western Digital earnings fall by more than 40%
Western Digital Corp. (WDC) on Thursday reported a fiscal fourth-quarter profit of $158 million, or 67 cents a share, on revenue of $2.4 billion, compared with earnings of $265 million, or $1.13 a share, on $2.38 billion in sales in the year-ago quarter. Excluding $35 million in expenses related to Western Digital's acquisition of Hitachi Global Storage Technologies, Western Digital would have earned $193 million, or 81 cents a share. Analysts surveyed by FactSet Research had forecast Western Digital to earn 68 cents a share on $2.3 billion in revenue.
As of 7-22-2011
CAT Post-ER Charts
Caterpillar profit up 44%, raises 2011 guidance
Caterpillar Inc. (CAT) on Friday reported fiscal second quarter earnings of $1.02 billion, $1.52 a share, compared $707 million, or $1.09 a share in the year ago period. Total revenue was $14.23 billion, 37% higher than the same period last year. On continuing basis, revenue excluding a $204 million expense related to the acquisition of Bucyrus, net income rose to $1.72 a share, up from $1.09 a share in second quarter last year. Analysts surveyed by FactSet research expected earnings of $1.74 a share, on revenue of $13.30 billion. Caterpillar raised its guidance for 2011 to revenues in the range of $54 to $56 billion and earnings per share of $6.75 to $7.25, excluding the impact of the Bucyrus acquisition. The Peoria, Ill.-based company previously expected revenues between $52 and $54 billion and earnings per share of $6.25 to $6.75. Shares of Caterpillar dropped 5.5% in pre-market trading.
As of 7-22-2011
HGSI Post-ER Charts
Analyst calls Human Genome sell-off "overdone"
In a note to investors Friday, Leerink Swann analyst Joseph Schwartz said that the current sell-off of shares of Human Genome Sciences (HGSI) was "overdone." Investors pushed down shares of the biotech group by almost 8% to $21.28 Friday on concerns that quarterly sales of the company's new lupus drug Benlysta were weaker than expected. "We believe today's Human Genome stock weakness is overdone, misplaced and likely a knee-jerk reaction to the headline 'miss' last night after the close," wrote Schwartz. "In fact including $1.2 million stocking, as some companies would report the numbers, Benlysta sales (plus deferred sales) actually beat expectations. We think the numbers going forward are very achievable and would use weakness as buying opportunity," Schwartz added.
As of 7-22-2011
AMD Post-ER Charts
Technology stocks rose broadly after Advanced Micro Devices Inc. reported strong second-quarter earnings and said its new computer graphics chip was selling well.
As of 7-22-2011
MS Morgan Stanley, up $2.48 at $24.20
The investment bank reported a much smaller loss than investors were expecting thanks to a pickup in trading revenue.
STX Seagate Technology PLC, down $2.86 at $14.13
The hard-disk drive maker predicted fiscal first-quarter results below expectations, citing uncertainty in the global economy.
Travelzoo Inc., down $29.71 at $56
The travel deals publisher posted quarterly results that missed expectations despite a 51 percent increase in net income.
the article shows a bear strategy which is opposite what we did last Monday for AAPL, nice play!
http://www.schaeffersresearch.com/commentary/content/travelzoo+inc+shareholder+employs+options+to+lock+in+gains+ahead+of+earnings/observations.aspx?ID=107141
eBay Earnings Cheat Sheet for the Second Quarter
Results: Net income fell to $283.4 million (22 cents per share) vs. $412.2 million (31 cents per share) a year earlier. This is a decline of 31.2% from the year earlier quarter.
Revenue: Rose 24.6% to $2.76 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: EBAY reported adjusted net income of 48 cents per share. By that measure, the company beat the mean estimate of 39 cents per share. It beat the average revenue estimate of $2.61 billion.
Quoting Management: “Second quarter revenue and earnings were strong, with PayPal surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter, and eBay growth in the U.S. accelerating,” said eBay Inc. President and CEO John Donahoe. “We also strengthened our portfolio in Q2 with acquisitions that we believe will more broadly position us to enable the future of commerce. We will partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment, and we will help consumers shop and pay anytime, anywhere, any way.”
Key Stats:
From the first quarter, the company’s current liabilities rose to $6.14 billion from $4.76 billion.
Gross margin shrank 0.2 percentage point to 72%. The contraction appeared to be driven by increased costs, which rose 25.7% from the year earlier quarter while revenue rose 24.6%.
Revenue has risen the past four quarters. Revenue increased 15.9% to $2.55 billion in the first quarter. The figure rose 5.2% in the fourth quarter of the last fiscal year from the year earlier and climbed 0.5% in the third quarter of the last fiscal year from the year-ago quarter.
The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 40 cents per share.
While the company has been profitable for the last nine quarters, income has fallen year over year by an average of 4.2% over the past five quarters. The quarter hit the hardest was the fourth quarter of the last fiscal year, that saw a 58.7% drop.
http://wallstcheatsheet.com/earnings-trading-markets/ebay-inc-earnings-cheat-sheet-margins-shrink-as-net-income-drops.html/
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After Hours: 32.70 -0.47 (-1.42%)
Yahoo's Unsurprising Surprise
Yahoo's second-quarter results, released Tuesday night, were stunning in many respects, though perhaps not so much for investors inured to the company's repeated disappointments. The company still hasn't resolved the issue of compensation for the bizarre transfer of a partly owned Chinese asset earlier this year. Its Microsoft alliance continues to deliver revenue-per-search results well short of expectations.
Most surprising, though, was the drastic deceleration in Yahoo's display-advertising-revenue growth rate, to 5% from 10% in the first quarter.
http://online.wsj.com/article/SB10001424053111903554904576458292805122146.html
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FFIV was beaten down after ER
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Tuesday, July 19
Chipotle reports 9% profit gain(5:08 pm ET)
SAN FRANCISCO (MarketWatch) -- Chipotle Mexican Grill Inc. (CMG: news, chart, profile) reported late Tuesday second-quarter profit rose to $50.7 million, or $1.59 a share, from a year-ago profit of $46.5 million, or $1.46 a share. Revenue for the three months ended June 30 increased to $571.6 million from $466.8 million a year ago. The earnings per share, excluding one-time items, were $1.63. Analysts polled by FactSet Research, who generally exclude one-time items, had predicted Chipotle would earn $1.68 a share on $556.9 million in revenue. Shares of the Colorado-based fast-food restaurant were down 5.8 at $313.90 in after-hours trade. The stock is up 141% over the past year.
Stryker net profit slips 3%(4:51 pm ET)
SAN FRANCISCO (MarketWatch) -- Stryker Corp. (SYK: news, chart, profile) , citing costs from two recent acquistions, reported late Tuesday its second-quarter net profit slipped to $309 million, or 79 cents a share, from $319 million, or 80 cents, a year ago. Adjusted to exclude one-time items, the medical equipment maker's profit rose 10% to $352 million, or 90 cents a share. Revenue for the three months ended June 30 rose 16% to $2.05 billion from $1.76 billion. Analysts polled by FactSet Research, who typically cite adjusted earnings, expected the Kalamazoo, Mich.-based company to post earnings of 90 cents a share on $2.01 billion in revenue. Stryker shares fell 66 cents, or 1.1%, to $58.50 in after-hours trade.
Cintas posts 28% profit gain; shares rise(4:45 pm ET)
SAN FRANCISCO (MarketWatch) -- Cintas Corp. (CTAS: news, chart, profile) reported late Tuesday second-quarter profit rose to $70.8 million, or 49 cents a share, from a year-ago profit of $55.5 million, or 36 cents a share. Revenue for the three months ended June 30 increased to $1 billion from $909.4 million a year ago. Analysts polled by FactSet Research had predicted Cintas would earn 43 cents a share on $967.2 million in revenue. Shares of the Ohio-based corporate apparel company were up 7% at $33.01 in after-hours trade. The stock is up 28.5% over the past year.
Apple reports surge in third quarter earnings(4:33 pm ET)
SAN FRANCISCO (MarketWatch) - Apple Inc. reported a surge in third-fiscal quarter earnings on Tuesday afternoon, solidly beating Wall Street's estimates. For the quarter ended June 25, Apple (AAPL: news, chart, profile) reported net income of $7.31 billion, or $7.79 per share, compared to net income of $3.25 billion, or $3.51 per share, for the same period the previous year. Revenue surged 82% to $28.6 billion for the quarter. Analysts had been expecting earnings of $5.80 per share on revenue of $24.9 billion, according to consensus forecasts from Thomson Reuters. For the quarter ending Sept. 30, Apple said it expects revenue of $25 billion and earnings per share of $5.50. Analysts were expecting revenue of $27.7 billion with earnings of $6.42 per share for the period.
CSX posts higher profit as freight demand rises(4:22 pm ET)
SAN FRANCISCO (MarketWatch) -- CSX Corp. (CSX: news, chart, profile) on Tuesday reported second-quarter earnings of $506 million, or 46 cents a share, up from $414 million, or 36 cents a share, a year ago. Revenue for the railroad operator rose 13% to $3.0 billion. Analysts polled by FactSet Research were looking for earnings, on average, of 44 cents a share with sales of $2.98 billion. CSX shares closed up 1.2% at $25.48 and have now rallied 54% in the past year amid a broader economic recovery in the United States.
Yahoo meets expectations with mixed results(4:10 pm ET)
SAN FRANCISCO (MarketWatch) - Yahoo Inc. (YHOO: news, chart, profile) said Tuesday its second-quarter net income rose to $237 million, or 18 cents a share, from $213 million, or 15 cents a share in the same period last year. The Sunnyvale, Calif.-based Internet media firm said net revenue for the period ended June 30 fell 5% to $1.1 billion. Analysts polled by FactSet Research had expected Yahoo to report second-quarter earnings of 18 cents a share, and $1.1 billion in net revenue.
VMware earnings nearly triple to $220 million(4:09 pm ET)
SAN FRANCISCO (MarketWatch) -- VMware Inc. (VMW: news, chart, profile) on Tuesday reported a fiscal second-quarter profit of $220 million, or 51 a share, on revenue of $921 million, compared with earnings of $75 million, or 18 a share on $674 million in sales in the same period a year ago. Excluding one-time items, VMware would have earned $235 million, or 55 cents a share Analysts surveyed by FactSet Research had forecast VMware to earn 47 cents a share on revenue of $872 million. The company also said that for its third quarter, it expects sales in a range of $915 million to $940 million.
(12:27 pm ET)
NEW YORK (MarketWatch) -- Shares of F5 Networks Inc. (FFIV: news, chart, profile) rose 5% on Tuesday afternoon to $117.45 ahead of the release of its fiscal third-quarter results Wednesday. The security software maker is expected to beat consensus estimates by a small margin, said Michael Genovese, an analyst at MKM Partners. Analysts surveyed by FactSet Research predict earnings of 91 cents a share, up from 88 cents a share in the previous quarter.
Avery Dennison skids 12% on downbeat outlook(11:43 am ET)
CHICAGO (MarketWatch) -- Shares of Avery Dennison Corp. were on the skids Tuesday, losing as much as 12% after the company said it expects lower second quarter sales and trimmed its full-year profit outlook. "In the second quarter, volume in our two largest segments was negatively impacted as consumer packaged goods companies and apparel retailers and brands became more cautious about consumer sentiment and the impact of rising retail prices to offset inflation," said Dean Scarborough, chief executive, in the announcement. Avery Dennison (AVY: news, chart, profile) fell $4.55 to $33.26 to become the worst percentage decliner in the S&P 500.
WebMD rebounds 9% in midday trading(11:27 am ET)
BOSTON (MarketWatch) -- Shares of WebMD Health Corp. (WBMD: news, chart, profile) rebounded 9% to $35.25 on Tuesday, the day after the stock plunged over 30% on a weakened 2011 outlook. On Monday, WebMD said it saw 2011 revenue coming in between $580 million and $600 million, and income from continuing operations of $71 million to $80 million. The company had previously forecasted revenue of $610 million to $640 million, and income from continuing operations of $80 million to $92 million. WebMD's earnings report will be released on Aug. 2.
Exchange rate, fewer recalls boost J&J sales(9:05 am ET)
BOSTON (MarketWatch) -- Johnson & Johnson (JNJ: news, chart, profile) reported better-than-expected second-quarter sales early Tuesday, thanks to a favorable exchange rate for the U.S. dollar. The health-care products heavyweight said that sales jumped 8.3% to $16.6 billion, with the currency rate contributing 5.7%. While domestic sales were virtually flat, international sales soared 15.9%, with the foreign exchange rate contributing 11%. Analysts had been expecting revenue of $16.24 billion, according to FactSet. Sales of consumer products rebounded nicely from last year's quarter, up 4%, as domestic sales jumped 8.5%. Last year's sales were negatively impacted by a series of recalls for many of its most popular over-the-counter medicines, including Motrin, Tylenol, and Benadryl. J&J shares were up marginally in premarket trading.
Apple Inc. shares near $380 a share for first time(8:35 am ET)
NEW YORK (MarketWatch) -- Shares of Apple Inc. (AAPL: news, chart, profile) rose 1.3% to $378.67 in pre-market trades on Tuesday. The stock is changing hands at an all-time high, ahead of the computer maker's third-quarter earnings due out later in the day. Less than nine years ago, Apple stock closed at $6.84 a share on Oct. 8, 2002.
Johnson & Johnson Q2 sales rise; price target kept(8:31 am ET)
NEW YORK (MarketWatch) -- Johnson & Johnson (JNJ: news, chart, profile) on Tuesday reported second quarter earnings of $2.78 billion or $1 a share, compared to $3.45 billion, or $1.23 a share in the year ago period. Excluding one-time items, second quarter earnings were $3.55 billion, or $1.28 a share, compared to $3.38 billion or $1.21 a share. Total revenue was $16.6 billion, 8.3% higher than the same period last year. Analysts surveyed by FactSet Research expected earnings of $1.24 a share, on revenue of $16.24 billion. The healthcare products and pharmaceuticals company maintained its earnings guidance for 2011 of $4.90 to $5 a share. Johnson & Johnson shares rose a fraction in pre-market trading.
Goldman Sachs shares drop 3.5% to 52-week low(8:18 am ET)
NEW YORK (MarketWatch) -- Shares of Goldman Sachs Group Inc. (GS: news, chart, profile) fell as much as 3.5% to a 52-week low in premarket trade Tuesday, after missing earnings targets. The company said that its second-quarter profit rose to $1.09 billion, or $1.87 a share, from $613 million, or 78 cents a share a year ago. Analysts polled by FactSet Research had expected the company to earn $2.35 a share, or revenue of $8.19 billion. The stock traded at $125.39 a share at the latest.
Goldman Sachs profit rises but misses target(8:09 am ET)
NEW YORK (MarketWatch) -- Goldman Sachs Group Inc. (GS: news, chart, profile) said on Tuesday that its second-quarter profit rose to $1.09 billion, or $1.87 a share, from $613 million, or 78 cents a share a year ago. The company reported net revenues of $7.28 billion, including interest income, versus $8.84 billion a year ago. Analysts polled by FactSet Research had expected the company to earn $2.35 a share, or revenue of $8.19 billion.
State Street profit rises (7:51 am ET)
NEW YORK (MarketWatch) -- State Street Corp. (STT: news, chart, profile) said on Tuesday that its second-quarter profit rose to $513 million, or $1 a share, compared to $432 million, or 87 cents a share a year ago. Total revenue during the period rose to $2.49 billion, from $2.30 billion.
Harley-Davidson net up; shipment estimate rises(7:35 am ET)
NEW YORK (MarketWatch) -- Harley-Davidson Inc., (HOG: news, chart, profile) the Milwaukee motorcycle producer, reported second-quarter net income more than doubled on 18% higher revenue, and it increased its estimate of shipments for the full year. For the quarter Harley-Davidson earned $190.6 million, or 81 cents a share, compared with $71.2 million, or 30 cents, in the year-earlier quarter. Continuing operations generated profit of 81 cents a share against 59 cents. Revenue reached $1.34 billion from $1.14 billion. A survey of analysts by FactSet Research produced consensus estimates of 72 cents a share on revenue of $1.26 billion. The company now expects shipments to rise 8% to 12% this year, to a range of 228,000 to 235,000 motorcycles.
Omnicom Group profit up 13%(7:35 am ET)
NEW YORK (MarketWatch) -- Omnicom Group Inc. (OMC: news, chart, profile) said Tuesday its second-quarter profit rose to $275.1 million, or 96 cents a share, from $243.3 million, or 79 cents a share, in the year-ago period. The advertising and marketing conglomerate's revenue increased by 14.7% to $3.49 billion. Wall Street analysts expected Omnicom to earn 92 cents a share on revenue of $3.67 billion, according to a survey by FactSet Research.
Bank of America posts loss; adjusted net up(7:23 am ET)
NEW YORK (MarketWatch) -- Bank of America Corp., (BAC: news, chart, profile) the Charlotte, N.C., banking firm, reported a second-quarter net loss of $8.8 billion, or 90 cents a share, against net income of $3.1 billion, or 27 cents, in the year-earlier period. Adjusted net income was 33 cents a share against 27 cents. A survey of analysts by FactSet Research produced a consensus estimate for the quarter of a loss of 85 cents. Bank of America said the results reflected its effort to resolve nearly all the legacy repurchase exposure of Countrywide as well as other mortgage-related costs. Credit costs dropped, sales-and-trading revenue improved and fees from asset management and investment banking climbed, the firm said.
Comerica profit rises 38%(7:13 am ET)
LONDON (MarketWatch) -- Comerica Inc. (CMA: news, chart, profile) said Tuesday that its second-quarter profit rose 38% to $95 million, or 53 cents a share, from $69 million, 39 cents a share, a year earlier. The group said net interest income dropped 7.3% to $391 million, but was more than offset by a sharp fall in provisions for loan losses to $47 million from $126 million. Analysts polled by FactSet Research had been expecting the group to report earnings of 53 cents a share.
KeyCorp net income more than triples(6:54 am ET)
MADRID (MarketWatch) -- KeyCorp on Tuesday reported second-quarter net income of $240 million, or 25 cents a share, against $70 million, or 3 cents a share, in the year-ago period. Revenue for the period fell 8.2% to $1.02 billion, against $1.12 billion in the year-ago period. Net interest income fell to $570 million against $623 million in the year-ago period. Nonnperforming assets declined $1.1 billion, and nonperforming loans decreased by $861 million from the year-ago quarter to $950 million and $842 million, respectively. Net charge-offs declined $301 million from the second quarter of 2010 to $134 million, or 1.11%, of average loan balances for the second quarter of 2011.
UnitedHealth profit up 13%, raises outlook(6:26 am ET)
FRANKFURT (MarketWatch) -- UnitedHealth Group Inc. (UNH: news, chart, profile) on Tuesday said second-quarter earnings jumped 12.8% to $1.27 billion, or $1.16 a share, from $1.12 billion, or 99 cents a share, in the same period a year ago. Revenues rose to $25.2 billion from $23.3 billion. A survey of analysts by FactSet Research produced a consensus forecast of 91 cents a share. The Minnetonka, Minn.-based health-care company said the results were highlighted by strong revenue growth from both its UnitedHealthcare and Optum businesses. The company raised its full-year 2011 projections for revenue to $101 billion, with net earnings now seen in the range of $4.15 to $4.25 a share. The company previously forecast full-year earnings of $3.95 to $4.05 a share. Analysts expect full-year profit of $4.20 a share, according to FactSet.
Hermes lifts outlook as sales rise 21%(2:42 am ET)
LONDON (MarketWatch) -- French luxury goods group Hermes International (FR:RMS: news, chart, profile) on Tuesday lifted its outlook for the year as it reported a 21% rise in first-half sales. The group said total sales in the period rose to 1.31 billion euros ($1.84 billion) from 1.07 billion euros, driven by growth in the U.S. and China. Hermes said operating profit for the period "should register a significantly higher growth than sales," and that its pretax profit margin should rise by four to five percentage points. For the year, the group lifted its target for consolidated revenue growth at constant exchange rates to a range of 12% to 14%, from its previous target of 8% to 10%.
Johnson Matthey underlying pretax profit rises 19%(2:25 am ET)
LONDON (MarketWatch) -- Specialty chemicals group Johnson Matthey PLC (UK:JMAT: news, chart, profile) said Tuesday that underlying pretax profit in its fiscal first quarter rose 19% to 98.2 million pounds ($157.6 million) as sales excluding precious metals grew 12% to 617 million pounds. The group said sales at its emission-control unit, which makes vehicle catalysts, rose 17% to 333 million pounds as disruption in parts of the business from the Japanese earthquake was more than offset by demand for heavy-duty diesel catalysts. The group said the outlook for the second quarter remains good and that its first-half results are therefore expected to be "significantly ahead" of the year-earlier period.
Novartis net profit rises 12% on sales gain of 27%(2:12 am ET)
MADRID (MarketWatch) -- Swiss pharmaceutical group Novartis AG (NVS: news, chart, profile) (CH:NOVN: news, chart, profile) on Tuesday announced second-quarter net attributable profit of $2.7 billion, against profit of $2.42 billion in the same period a year ago. Net sales rose 27% to $14.92 billion against $11.72 billion. A survey of analysts polled by Dow Jones Newswires was forecasting second-quarter net profit of $3.04 billion on sales of $14.49 billion. Novartis said sales were boosted 8% by a weaker dollar, while recently launched products grew 46% over the prior year-year, boosting sales by $3.8 billion. Group constant currency sales growth is expected to be around the double-digit mark, based on consolidation of Alcon for four months in 2010. Pharmaceuticals sales are expected to grow in the low-to mid-single digits, with volume growth more than offsetting the impact of generic competition. Alcon sales are expected to increase at a mid-to high-single digit rate, pro forma. Novartis said if June average exchange rates prevail for the rest of the year, the impact will likely have a 5% positive effect on sales and 3% negative effect on operating income for the full year.
Monday, July 18
Japan stocks fall post-holiday; banks, techs weak(8:13 pm ET)
LOS ANGELES (MarketWatch) -- Japanese stocks fell in early Tuesday trade, returning from a three-day weekend to price in concerns about European and U.S. sovereign debt. The Nikkei Stock Average (JP:NI225: news, chart, profile) lost 0.5% to 9,926.69, and the Topix dropped 0.5% to 855.36, with exporters and banks among the hardest hit. Amid global debt concerns and with the dollar hovering around the relatively weak 79-yen level, Sony Corp. (JP:6758: news, chart, profile) (SNE: news, chart, profile) gave up 1.3%, Nintendo Co. (JP:7974: news, chart, profile) (NTDOF: news, chart, profile) fell 3%, Elpida Memory Inc. (JP:6665: news, chart, profile) (ELPDF: news, chart, profile) was down 2.5%, and Panasonic Corp. (JP:6752: news, chart, profile) (PC: news, chart, profile) lost 1.6%. Among auto makers, Honda Motor Co. (JP:7267: news, chart, profile) (HMC: news, chart, profile) was down 1.4% and Mitsubishi Motors Corp. (JP:7211: news, chart, profile) (MMTOF: news, chart, profile) gave up 1.9%. In the financial sector, debt jitters sent Mitsubishi UFJ Financial Group Inc. (JP:8306: news, chart, profile) (MTU: news, chart, profile) down 2.8%, and Sumitomo Mitsui Financial Group Inc. (JP:8316: news, chart, profile) (SMFG: news, chart, profile) lower by 1.5%. Tracking U.S. losses, Tokyo-listed shares of Citigroup Inc. (JP:8710: news, chart, profile) (C: news, chart, profile) were down 3.1%.
Black & Decker triples profit(5:16 pm ET)
SAN FRANCISCO (MarketWatch) -- Stanley Black & Decker Inc. (SWK: news, chart, profile) reported late Monday its second-quarter profit rose to $197 million, or $1.14 a share, from a year-ago profit of $46 million, or 28 cents a share. Revenue for the three months increased to $2.6 billion from $2.4 billion a year ago. The earnings per share, excluding one-time items, were $1.17. Analyst polled by FactSet Research, who generally exclude one-time items, had predicted Black & Decker would earn $1.26 a share on $2.6 billion in revenue. The Connecticut-based tool maker also raised its yearly-earnings-per-share guidance by 25 cents to $5 to $5.25. Shares of Black & Decker were up 4 cents, to $68.65, in after-hours trade. The stock is up 34.4% over the past year.
Zions Bancorp swings to profit (4:51 pm ET)
SAN FRANCISCO (MarketWatch) -- Zions Bancorporation (ZION: news, chart, profile) reported late Monday a second-quarter profit of $29 million, or 16 cents a share, reversing a year-ago loss of $135 million, or 84 cents a share. Analysts polled by FactSet Research had expected the Salt Lake City, Utah-based regional bank to earn 17 cents a share. Net interest income for the quarter ended June 30 rose to $414.8 million from $184.7 million a year earlier. The bank, citing improved major credit indicators, said it reduced its provision for loan losses to $1.3 million from $60 million in the first quarter. Zions Bancorp shares rose 28 cents, or 1.2%, to $23.07 in after-hours trade.
Mosaic fourth-quarter profit jumps to $649.2 mln(4:32 pm ET)
SAN FRANCISCO (MarketWatch) -- Mosaic Co. (MOS: news, chart, profile) late Monday reported its fourth-quarter net income attributable to Mosaic rose to $649.2 million, or $1.45 a share, from $396.1 million, or 89 cents a share, in the same quarter last year. Revenue increased 54% to $2.86 billion. Analysts surveyed by FactSet Research had forecast earnings of $1.37 a share on revenue of $2.58 billion. "Looking to fiscal 2012, we anticipate another good year given continued healthy global nutrient demand," said Jim Prokopanko, president and chief executive officer of Mosaic, in a statement.
IBM net up as software, hardware sales rise(4:15 pm ET)
SAN FRANCISCO (MarketWatch) -- International Business Machines Corp. (IBM: news, chart, profile) said Monday its second-quarter net income rose to $3.66 billion, or $3 a share, from $3.39 billion, or $2.61 a share in the same period last year. Armonk, N.Y.-based IBM said revenue rose 12% to $26.7 billion. Analysts polled by FactSet Research had expected IBM to report earnings of $3.02 a share, and $25.4 billion in revenue for the quarter. IBM also said it is raising its earnings guidance for the full year, to "at least" $12.87 a share on a GAAP basis, from $12.73 a share. Shares of IBM fell nearly 1% in after-hours trading, following the earnings announcement.
ER Watch for 110720
BO: ABT MO UTX
DM: EBAY
AC: FFIV QCOM
http://stockcharts.com/freecharts/candleglance.html?ABT,MO,UTX,EBAY,FFIV,QCOM
ER Play for YHOO
PPS @14.63
YHOO Aug 20 2011 15.0 Call @0.54
so high volume on CALL side!
Close out for AAPL
PPS @377.77
3.5+13.0-22.45=5.95
ten baggers if your entry was 0.50 
ER Watch for 110719
BO: BAC KO GS WFC
DM: AAPL ISRG YHOO
AC: CMG ALTR
http://stockcharts.com/freecharts/candleglance.html?BAC,KO,GS,WFC,AAPL,ISRG,YHOO,CMG,ALTR
FFIV ER on Wed. 07/20 AC
Will keep an eye on it, seem like a good day to scoop up some cheap call today and sell them before ER
ER Play for WYNN
ER 7-18-2011 Monday AC
Bullish Play
WYNN @362
Sell (1) Sept 145P @4.80
Buy (1) Sept 175C @5.10
Cost = 4.80 - 5.10 = 0.30 + Fee
ER Play for MSFT
ER 7-21-2011 Thursday AC
Bullish Play
MSFT @362
Sell (1) Sept 26P @0.80
Buy (2) Sept 28C @0.40 each
Sell Sept 390C @5.90
Cost = 0.80 + 2*(0.40) = 0 + Fee
ER Play for AAPL
ER 7-19-2011 Tuesday AC
Bullish Play
AAPL @362
Sell Sept 330P @6.00
Buy Sept 370C @12.40
Sell Sept 390C @5.90
Cost = 6+5.9-12.4 = -0.50 + Fee
ER - Citigroup Net Climbs 24% on Advisory Fees;
Shares Drop on Expense Forecast
Citigroup Inc. (C), the third-biggest U.S. bank, said profit rose 24 percent, beating analysts’ estimates on higher investment-banking fees and reductions in loan-loss reserves. The shares declined after the bank said expenses will be higher than previous forecasts.
Second-quarter net income rose to $3.34 billion, or $1.09 a share, from $2.7 billion, or 90 cents, in the same period last year, New York-based Citigroup said today in a statement. The average estimate of 23 analysts surveyed by Bloomberg was for earnings per share of 96 cents.
A 61 percent gain in investment-banking revenue at Citigroup, led by Chief Executive Officer Vikram Pandit, mirrored the results JPMorgan Chase & Co. (JPM) reported yesterday. A $2 billion release from loan-loss reserves also bolstered earnings. The results countered a decline in trading revenue from the first quarter and allowed Pandit to post a sixth straight profitable quarter.
“Investment-banking results, particularly on the trading front, were much better than we expected,” Charles Peabody, an analyst with New York-based Portales Partners LLC, said in an interview on Bloomberg TV. “Their investment banking, which would be mergers and acquisitions and underwriting, was up very strong both quarter over quarter and year over year.”
Citigroup shares declined, erasing an earlier gain, after the company said on a conference call with analysts that expenses would remain elevated through the end of this year. The stock fell 64 cents, or 1.6 percent, to $38.38 at 4:15 p.m. in composite trading on the New York Stock Exchange, the biggest drop in the KBW Bank Index of 24 companies.
Cutting Estimates
Operating costs rose 9 percent to $12.9 billion due in part to increased legal bills and a weakening U.S. dollar, Chief Financial Officer John Gerspach told analysts. The annual total will probably exceed the range of between $48 billion and $50 billion previously given by the bank, Gerspach said.
“Higher expenses lead to lower profits,” said Gerard Cassidy, an analyst with Royal Bank of Canada, who has an “outperform” rating on the shares. “Unless they’re able to offset those expenses with greater revenue growth, and management did not say that was going to happen, one can conclude that when analysts make their earnings adjustments, they’re going to be lowering their earnings estimates.”
The bank’s total revenue declined 7 percent to $20.6 billion, compared with JPMorgan’s 7 percent revenue increase to $26.8 billion in the same period.
Revenue Falls
Citicorp revenue, which includes investment banking, trading, the retail bank and global transaction services, fell 1 percent to $16.3 billion. Citi Holdings, which Pandit created in January 2009 to sell troubled businesses and securities, posted an 18 percent decline in revenue, to $4.01 billion.
“While we are comfortable with the broader macro-economic trends that underpin our strategy, we are concerned with the impact the near-term economic environment will have on the industry for the second half of the year,” Pandit told analysts on the conference call. “But with that said, we are consistently profitable and remain focused on growing responsibly.”
Revenue at Citigroup’s investment bank, run by Ray McGuire, increased to $1.09 billion from $674 million in the same quarter last year. Moshe Orenbuch, a Credit Suisse AG analyst, had predicted revenue of $865 million while Richard Staite, a London-based analyst with Atlantic Equities LLC, had estimated $890 million.
McGuire, 54, added more than 40 managing directors this year as Pandit seeks to boost market share. Citigroup doesn’t disclose the investment bank’s profit.
As of 7-15-2011
EARNINGS Surprises - 110715
GOOG ER - Google on July 14 reported record-breaking Q2 revenues of $9.03 billion — a 32% year-over-year quarterly boost. Good news for Google investors, to be sure. But here’s the twist: Google still does not disclose revenue figures for Google Apps for Business and the Google Apps Marketplace. Generally speaking, it sounds like Google’s cloud apps for channel partners are still barely a blip on the company’s balance sheet.
Leading the company’s path to profitability in Q2 2011 were Google-owned sites, generating 69% of total revenues, or $6.23 billion. Next up was AdSense revenue obtained through Google partner sites of $2.48 billion, or 28% of total revenues. There are plenty of other nuggets of interesting information in the company’s public earnings statement, if you’re curious, but it mostly revolves around rising Google search and advertising revenues.
As of 7-15-2011
Earning Plays TA and News::Partial Old Header:: Useful Tools :: Earning Calander::Earning Calander 2:: Earning Watch::Seeking Alpha:: Earning Whispers::YHOO::CNBC::Pivot Table::Weekly Commentary:OptionsQ:
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ER Week 11-07-24 #msg-65499872
ER Week 11-07-20 #msg-65248798 => 11-07-20 #msg-65336493; 11-07-19 #msg- 65248114; 11-07-18 #msg-65248796; 11-07-17 #msg-65314847; 11-07-15 #msg-65247229
Old ERs #msg-65516003
EARNINGS Surprises: 11-07-14 #msg-65203541;
Downgrades: 11-07-13 #msg-65203608;
Please Keep This Board Quiet!
