Earnings - 17th June 2008

Union Pacific Cuts 2Q EPS View By 5c Due To Midwest Weather ::: Union Pacific Corp. (UNP) expects the severe weather in the Midwest will reduce its second-quarter earnings by about 5 cents a share. The railroad operator now expects earnings will fall towards the bottom half of the 90 cents to 98 cents a share it expected in April, according to a filing Tuesday with the Securities and Exchange Commission. The Omaha, Neb., company said the weather caused network outages and other disruptions.

4:29PM YRC Worldwide reaffirms Q2 EPS of $0.30-0.40, ex -items vs $0.29 consensus (YRCW) 16.77 +0.77 : As mentioned at 16:25, co reaffirms Q2 2008 earnings. Co sees net curtailment gains of $0.34 per share and a charge for a significant accident of $0.09 per share. Excluding the curtailment gains and the accident charge, Q2 2008 earnings from core operations are expected to be consistent with previously issued guidance of $0.30-0.40 per share vs $0.29 consensus.

8:29AM Goldman Sachs beats by $1.16, beats on revs (GS) 182.09 : Reports Q2 (May) earnings of $4.58 per share, $1.16 better than the First Call consensus of $3.42; revenues fell 7.5% year/year to $9.42 bln vs the $8.74 bln consensus. Annualized return on average tangible common shareholders' equity was 23.5% for the Q2 and 20.2% for the first half of 2008. Annualized return on average common shareholders' equity was 20.4% for the second quarter of 2008 and 17.6% for the first half of 2008. Book value per common share increased 5% during the quarter to $97.49. Credit products included a loss of approximately $775 mln (including a loss of approximately $500 mln from hedges) related to non-investment-grade credit origination activities, and lower results from investments compared with the second quarter of 2007. "We continue to benefit from our strong client franchise, a broad and diverse set of businesses and the deep commitment and experience of our people. We are realistic about the market challenges we face, but times of market dislocation also produce opportunities, and we will continue to take advantage of the most attractive of these as they arise."