Earnings - 1st Aug 2008

7:12AM TRW Automotive beats by $0.50, beats on revs; raises FY08 guidance (TRW) 17.67 : Reports Q2 (Jun) earnings of $1.24 per share, $0.50 better than the First Call consensus of $0.74; revenues rose 18.4% year/year to $4.45 bln vs the $4.33 bln consensus. Co raises guidance for FY08, sees EPS of $2.40-2.70, up from $2.30-2.60, includes charges, may not be comparable to $2.24 consensus; sees FY08 revs of $16.4-16.8 bln, up from $16.2-16.6 bln, vs. $16.55 bln consensus. This guidance range reflects pre-tax restructuring and asset impairment charges of approximately $75 million (including approximately $25 million in the third quarter).

7:10AM Bruker Corp. beats by $0.04, beats on revs (BRKR) 11.89 : Reports Q2 (Jun) earnings of $0.13 per share, $0.04 better than the First Call consensus of $0.09; revenues rose 30.7% year/year to $311.5 mln vs the $258.5 mln consensus.

7:08AM NYMEX beats by $0.02, beats on revs (NMX) 83.75 : Reports Q2 (Jun) earnings of $0.83 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.81; revenues rose 28.9% year/year to $210.8 mln vs the $205.9 mln consensus. Average daily volume was 1.812 million contracts during the second quarter 2008, a 30% increase compared to 1.396 million for the second quarter of 2007. NYMEX electronic trading volume on CME Globex averaged 865,149 contracts per day and represented a 42% increase over second quarter 2007 electronic trading volume. NYMEX floor-traded energy futures and options averaged 221,868 contracts a day for the second quarter of 2008, versus 256,635 contracts per day for the same period of 2007.

7:08AM Motorola beats by $0.05, beats on revs; guides Q3 EPS in-line; guides FY08 EPS above consensus (MOT) 7.68 : Reports Q2 (Jun) earnings of $0.02 per share, excluding non-recurring items, $0.05 better than the First Call consensus of ($0.03); revenues fell 7.4% year/year to $8.08 bln vs the $7.69 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.00-0.02, excluding non-recurring items, vs. $0.01 consensus. Co issues upside guidance for FY08, sees EPS of $0.06-0.08, excluding non-recurring items, vs. $0.01 consensus. "The Company had positive operating cash flow of $204 million and ended the quarter with a net cash position of $3.6 billion and a total cash position of $7.8 billion."

7:07AM Capella Education beats by $0.04, reports revs in-line; announces $60 mln buyback (CPLA) 58.50 : Reports Q2 (Jun) earnings of $0.37 per share, $0.04 better than the First Call consensus of $0.33; revenues rose 22.4% year/year to $66 mln vs the $65.8 mln consensus. For the third quarter ending September 30, 2008, total enrollment and revenue are expected to grow by 15.5 to 17.0 percent compared to the third quarter of 2007. The operating margin is anticipated to be approximately 11.0 to 11.5 percent of total revenue, including an estimated $800,000 severance expense. Separately, the Board of Directors authorized the repurchase of up to $60 million of the Company's outstanding common shares.

7:05AM CVS Caremark reports EPS in-line, misses on revs (CVS) 38.29 : Reports Q2 (Jun) earnings of $0.60 per share, in-line with the First Call consensus of $0.60; revenues rose 2.1% year/year to $21.14 bln vs the $21.41 bln consensus. "This was another quarter of strong financial performance across our businesses. We delivered solid improvement in sales and gross margins and continued to exercise disciplined expense control. That enabled us to hit a record operating profit margin this quarter. At the same time, we've further advanced our new PBM/retail model and our clients have expressed growing enthusiasm for our unique new product offerings."

5:00PM Oil States beats by $0.15, beats on revs; guides Q3 EPS above consensus (OIS) 54.88 -1.09 : Reports Q2 (Jun) earnings of $1.11 per share, excluding $0.03 gain related to the portion if its investment in Boots & Coots, $0.15 better than the First Call consensus of $0.96; revenues rose 26.4% year/year to $631.4 mln vs the $578.4 mln consensus. Co issues upside guidance for Q3, sees EPS of $1.19-1.24 vs. $1.14 consensus. "Each of our businesses contributed to significant year-over-year growth for Oil States in the second quarter of 2008," stated Cindy B. Taylor, Oil States' President and Chief Executive Officer. "Our Tubular Services group generated record revenues and EBITDA during the quarter and our oil sands lodges in Canada continue to be a significant driver of our growth. Our Offshore Products segment, which supports global deepwater infrastructure development, also posted another strong quarter with revenue growth and good margins.

8:42AM Tidewater beats by $0.12, beats on revs; announces $200 mln buyback (TDW) 59.94 : Reports Q1 (Jun) earnings of $1.64 per share, $0.12 better than the First Call consensus of $1.52; revenues rose 11.3% year/year to $340.1 mln vs the $333.2 mln consensus. Co announces its Board of Directors has authorized the co to spend up to $200 mln to repurchase shares of its common stock.

8:33AM Clorox beats by $0.07, reports revs in-line; guides FY09 EPS in-line (CLX) 54.50 : Reports Q4 (Jun) earnings of $1.18 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $1.11; revenues rose 11.2% year/year to $1.50 bln vs the $1.48 bln consensus. Co issues in-line guidance for FY09, sees EPS of $3.60-3.75 vs. $3.71 consensus.

8:32AM Chevron misses by $0.13 (CVX) 84.56 : Reports Q2 (Jun) earnings of $2.90 per share, $0.13 worse than the First Call consensus of $3.03; revenues rose 47.9% year/year to $82.99 bln. Worldwide oil-equivalent production was 2.54 million barrels per day in the second quarter 2008, compared with 2.63 million barrels per day in the corresponding period in 2007. Absent the impact of higher prices on volumes recoverable under certain production-sharing and variable-royalty contracts outside the United States, production increased slightly between periods.

8:22AM Brush Engineered Materials beats by $0.10, beats on revs; guides FY08 EPS in-line; announces buyback (BW) 23.93 : Reports Q2 (Jun) earnings of $0.53 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.43; revenues rose 5.6% year/year to $246.6 mln vs the $236.3 mln consensus. Co issues in-line guidance for FY08, sees EPS of $1.75-2.00, excluding non-recurring items, compared to previous guidance of $1.80-2.30, vs. $1.89 consensus. Co's Board of Directors has authorized the co to repurchase of up to 1.0 mln shares.

7:07AM Oshkosh Truck beats by $0.14, beats on revs; guides Q4 EPS below consensus; guides FY08 EPS below consensus (OSK) 18.04 : Reports Q3 (Jun) earnings of $1.19 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $1.05; revenues rose 6.6% year/year to $1.97 bln vs the $1.89 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.50-0.65 vs. $0.92 consensus. Co issues downside guidance for FY08, sees EPS of $3.15-3.30, excluding non-recurring items, vs. $3.44 consensus. "We expect weak residential and non-residential construction in North America and certain areas of Western Europe to limit sales volume in the quarter. We also expect higher steel, fuel and other costs to have a more significant impact on fourth quarter earnings for the access equipment segment, in advance of our product selling price increases, which are effective October 1."

7:06AM Ingersoll-Rand beats by $0.14, reports revs in-line; guides Q3 EPS in-line, revs in-line; guides FY08 EPS above consensus (IR) 36.00 : Reports Q2 (Jun) earnings of $1.03 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.89; revenues rose 38.5% year/year to $3.08 bln vs the $3.07 bln consensus. Co issues in-line guidance for Q3, sees EPS of $1.05-1.10 vs. $1.07 consensus; sees Q3 revs of $4.4-4.5 vs. $4.44 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.80-3.90, excluding non-recurring items, vs. $3.71 consensus.

6:59AM Astronics beats by $0.29, beats on revs; guides FY08 revs above consensus (ATRO) 14.60 : Reports Q2 (Jun) earnings of $0.60 per share, $0.29 better than the First Call consensus of $0.31; revenues rose 15.8% year/year to $47.9 mln vs the $42.1 mln consensus. Co issues upside guidance for FY08, sees FY08 revs of $175-185 mln vs. $169.49 mln consensus.

6:16AM KBR Inc. beats by $0.10, beats on revs (KBR) 28.50 : Reports Q2 (Jun) earnings of $0.46 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.36; revenues rose 23.5% year/year to $2.66 bln vs the $2.32 bln consensus.

6:04AM CIGNA beats by $0.11, beats on revs; guides FY08 EPS in-line (CI) 37.02 : Reports Q2 (Jun) earnings of $1.08 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.97; revenues rose 11.0% year/year to $4.86 bln vs the $4.76 bln consensus. Co issues in-line guidance for FY08, sees EPS of $4.05-4.25, excluding non-recurring items, vs. $4.17 consensus.

4:37AM W-H Energy Svcs beats by $0.21, beats on revs (WHQ) 91.53 : Reports Q2 (Jun)
earnings of $1.45 per share, excluding transactions costs related to proposed acquisition of co by Smith Int'l, $0.21 better than the First Call consensus of $1.24; revenues rose 10.3% year/year to $346.9 mln vs the $311.8 mln consensus.

2:38AM NYSE Euronext misses by $0.03, beats on revs (NYX) 47.24 : Reports Q2 (Jun) earnings of $0.75 per share, excluding non-recurring items, $0.03 worse than the First Call consensus of $0.78; revenues rose 14.1% year/year to $1.11 bln vs the $0.81 bln consensus. Trade volume for NYSE Euronext's cash markets in Europe and in the U.S. increased 17% and 7%, respectively, in Q2. Trading volumes in derivatives increased 22% in Europe and 38% in the U.S. in Q2 compared to Q207.

12:00AM Massey Energy beats by $0.38, beats on revs (MEE) 74.25 : Reports Q2 (Jun)
earnings of $1.15 per share, excluding Wheeling-Pittsburgh litigation charge, $0.38 better than the First Call consensus of $0.77; revenues rose 33.8% year/year to $826.8 mln vs the $715.6 mln consensus. Co believes demand for Central Appalachia coal is likely to exceed supply for foreseeable future. Co continues to project 2008 produced coal shipments will be between 41.5 and 43.0 mln tons, with average produced coal realization between $65.00 and $66.00 per ton. Excluding the WP litigation charge, average cash cost per ton for FY08 is expected to be between $47.00 and $50.00. Other income is expected to be between $20 and $100 mln. For 2009 Massey expects produced coal shipments to be in the range of 46.0 to 48.0 mln tons, 13.0 to 14.0 mln tons of which will be metallurgical coal. For the total tons shipped, the average price is expected to be in the range of $84.00 to $92.00 per ton.