6:24PM Standard Pacific reports Q3 (Sep) results, misses on revs (SPF) 3.12 +0.10 : Reports Q3 (Sep) loss of $0.07 per share, may not be comparable to the First Call consensus of ($0.47); revenues fell 37.8% year/year to $400.3 mln vs the $420.8 mln consensus. The Company's results for the 2008 third quarter included pretax impairment charges of $368.4 million.In addition, the 2008 third quarter operating results also included a noncash charge related to a net increase in the Company's deferred tax asset valuation allowance of $134.1 million, or $0.92 per diluted share. Co reported a Q3 cancellation rate of 26%, down from 35% in the prior year period and up slightly from 25% for the 2008 second quarter.
6:20PM Owens-Illinois beats by $0.05, reports revs in-line (OI) 19.22 -0.74 : Reports Q3 (Sep) earnings of $0.90 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.85; revenues rose 4.2% year/year to $2.01 bln vs the $2.02 bln consensus. Net earnings for the third quarter of 2008 included an after-tax charge of $79.7 million for restructuring and related asset impairment and a $4.6 million net benefit from foreign tax items.
6:08PM Cabot Oil & Gas beats by $0.03, misses on revs; issues operations outlook (COG) 28.42 +1.00 : Reports Q3 (Sep) earnings of $0.65 per share, $0.03 better than the First Call consensus of $0.62; revenues rose 43.3% year/year to $244.8 mln vs the $251.8 mln consensus... Excluding acquisitions, both producing property and lease acquisitions, the Company's published guidance for capital spending remains the same, at $750 mln. Due to the effects of Hurricanes Gustav and Ike, along with delay in completions (mentioned above), Cabot's 2008 full year production levels are expected to be 96 to 97 Bcfe, or a 12.3 to 13.5% growth over 2007. "These numbers along with the existing commodity prices should provide us with record levels for many key metrics in 2008... For next year, the Company will again have a capital program that is within estimated cash flow to start the year. The capital plan for 2009 is $600 mln. "Much of this investment will be spent in East Texas and Pennsylvania...Only nine percent of our planned expenditures is allocated to our other plays in the Company." This level of spending will allow Cabot to grow its production levels by double digits over 2008.
6:04PM Republic Airways beats by $0.03, beats on revs (RJET) 13.36 -0.22 : Reports Q3 (Sep) earnings of $0.50 per share, $0.03 better than the First Call consensus of $0.47; revenues rose 16.7% year/year to $385.2 mln vs the $376.1 mln consensus.
5:33PM LHC Group beats by $0.08, beats on revs; guides FY08 EPS above consensus, revs in-line (LHCG) 24.99 +0.47 : Reports Q3 (Sep) earnings of $0.45 per share, $0.08 better than the First Call consensus of $0.37; revenues rose 26.7% year/year to $98.2 mln vs the $93.1 mln consensus. Co raises EPS guidance for FY08, sees EPS of $1.50-$1.60 (previous $1.35-$1.45) vs. $1.42 consensus; sees FY08 revs of $360-$380 mln (previous $350-$370 mln) vs. $365.20 mln consensus.
5:33PM Cabot misses by $0.04, beats on revs (CBT) 24.76 +0.21 : Reports Q4 (Sep) earnings of $0.20 per share, excluding items, $0.04 worse than the First Call consensus of $0.24; revenues rose 26.4% year/year to $853 mln vs the $832 mln consensus. "I remain confident in Cabot's strength and in our ability to execute our long term strategy and deliver on our performance commitments. We are, however, concerned about the global economic slowdown and its effect on demand in all of our key businesses. Notwithstanding this softening, the recent unprecedented decline in carbon black raw material costs will provide a significant contract lag benefit in the coming quarter. We have continued to secure orders in key market segments for Inkjet Colorants, Aerogels and Superior MicroPowders, which should lead to revenue growth in the coming fiscal year for the New Business Segment. Our cash position remains strong and will serve us well in the current economic environment. Lower carbon black feedstock costs and initiatives we have undertaken since the beginning of the year will further enhance our strong liquidity position."
5:25PM General Cable misses by $0.12, misses on revs; guides Q4 EPS below consensus, revs below consensus (BGC) 15.68 +0.13 : Reports Q3 (Sep) earnings of $1.16 per share, excluding a $0.09 charge of LIFO related charges, $0.12 worse than the First Call consensus of $1.28; revenues rose 43.3% year/year to $1.63 bln vs the $1.69 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.70-0.75, before the impact of LIFO and currency related gains or losses, vs. $1.12 consensus; sees Q4 revs of $1.40-1.45 bln vs. $1.52 bln consensus. The sequential decline in revenues is due principally to the translation impact of the strengthening U.S. dollar against the euro, the reduction in metal market prices, and the normal seasonal pattern of lower demand for cable products in the winter months.
5:18PM Circor beats by $0.16, beats on revs; guides Q4 EPS below consensus (CIR) 29.90 +1.41 : Reports Q3 (Sep) earnings of $1.16 per share, $0.16 better than the First Call consensus of $1.00; revenues rose 27.3% year/year to $208.7 mln vs the $195.2 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.82-0.94, excluding a $0.09 reduction as a result of recent foreign currency devaluations against the US dollar since the end of the third quarter, vs. $1.10 consensus.
5:15PM Alliance Imaging beats by $0.02, beats on revs; guides FY08 revs in-line (AIQ) 6.86 +0.01 : Reports Q3 (Sep) earnings of $0.12 per share, $0.02 better than the First Call consensus of $0.10; revenues rose 16.2% year/year to $128.1 mln vs the $124.7 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $486-$496 mln vs. $492.75 mln consensus.
5:06PM CoStar Group beats by $0.05, misses on revs; guides Q4 EPS above consensus, revs below consensus (CSGP) 29.61 +0.37 : Reports Q3 (Sep) earnings of $0.34 per share, $0.05 better than the First Call consensus of $0.29; revenues rose 9.1% year/year to $53.8 mln vs the $54.6 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.34-0.36 vs. $0.31 consensus; sees Q4 revs of $53.8-54.3 vs. $55.63 mln consensus.
5:03PM FARO Techs misses by $0.08, misses on revs (FARO) 15.46 -0.35 : Reports Q3 (Sep) earnings of $0.12 per share, $0.08 worse than the First Call consensus of $0.20; revenues rose 10.3% year/year to $49.1 mln vs the $50.6 mln consensus.
4:48PM Murphy Oil beats by $0.39, beats on revs; guides Q4 EPS below consensus (MUR) 47.31 +2.41 : Reports Q3 (Sep) earnings of $3.04 per share, $0.39 better than the First Call consensus of $2.65; revenues rose 71.3% year/year to $8.19 bln vs the $6.93 bln consensus. Co issues downside guidance for Q4, sees EPS of $1.00-1.40 vs. $1.99 consensus. "We anticipate total worldwide production to be approximately 141,000 barrels of oil equivalent per day during the fourth quarter 2008. Sales volumes are expected to be about 135,000 barrels of oil equivalent per day during the quarter."
4:42PM Tesoro beats by $0.15, beats on revs (TSO) 9.90 +0.29 : Reports Q3 (Sep) earnings of $1.63 per share, excluding non-recurring items but includes 6 cent charge for write down and other expenses associated with previoulsy announed closing of certain retail site, $0.15 better than the First Call consensus of $1.48; revenues rose 47.4% year/year to $8.7 bln vs the $7.81 bln consensus. Gross margins of $16.69 a barrel in the quarter versus the third quarter of 2007 and second quarter of 2008, by 85% and 65%, respectively, due to the co's profit improvement initiatives and the benefit of declining crude price. The co's third quarter 2008 throughput was 32,000 barrels per day lower than the third quarter 2007.
4:40PM General Maritime beats by $0.04, misses on revs (GMR) 11.98 +0.00 : Reports Q3 (Sep) earnings of $0.74 per share, $0.04 better than the First Call consensus of $0.70; revenues rose 40.1% year/year to $68.8 mln vs the $70.2 mln consensus.
4:40PM Advance America Cash beats by $0.02, beats on revs (AEA) 1.85 -0.06 : Reports Q3 (Sep) earnings of $0.14 per share, $0.02 better than the First Call consensus of $0.12; revenues rose 5.8% year/year to $183.9 mln vs the $169.7 mln consensus. "Our Company delivered steady results during some difficult economic times. We believe that our focus on reducing losses and controlling center expenses has added significantly to our bottom line results. Our overall operations remain strong and we continue to deliver profitable results despite the effects we feel from the lost revenues in states where regulatory and legislative actions have made it impossible for us to operate in an economically viable manner."
4:39PM Genco Shipping & Trading beats by $0.06, beats on revs (GNK) 15.08 +0.63 : Reports Q3 (Sep) earnings of $1.85 per share, $0.06 better than the First Call consensus of $1.79; revenues rose 135.7% year/year to $107.6 mln vs the $105.9 mln consensus. The average daily time charter equivalent, or TCE, rates obtained by the co's fleet increased 60% to $39,349 per day for the three months ended September 30, 2008 compared to $24,362 for the three months ended September 30, 2007. Daily vessel operating expenses grew to $4,187 per vessel per day during the third quarter of 2008 from $3,665 for the same quarter last year as a result of higher crew and insurance expenses as well as the operation of five Capesize vessels. Co sees drydocking costs for its fleet to be $2.8 mln in Q4 and $4.4 mln for FY09.
4:37PM Advance Auto beats by $0.02, reports revs in-line (AAP) 25.50 -0.95 : Reports Q3 (Sep) earnings of $0.59 per share, $0.02 better than the First Call consensus of $0.57; revenues rose 2.6% year/year to $1.19 bln vs the $1.19 bln consensus. "Our third quarter financial results were below our expectations. However, our strategic results exceeded our expectations in the quarter. Despite the financial outcomes, I am proud of how our Team Members served our customers. Our market share numbers indicate we were able to significantly grow our commercial share and maintain our DIY share in the quarter," said Darren R. Jackson, President and Chief Executive Officer. "We continue to remain committed to our growth strategies. As a result, we are resolving to move faster on availability excellence, continue with our confidence in commercial and acknowledge the urgency to stabilize DIY through a superior experience."
4:33PM Agnico-Eagle Mines reports Q3 (Sep) results, misses on revs (AEM) 27.06 +2.58 : Reports Q3 (Sep) earnings of $0.10 per share, may not be comparable to the First Call consensus of $0.08; revenues fell 12.5% year/year to $91.7 mln vs the $109.2 mln consensus.
4:31PM Rubicon Tech beats by $0.02, beats on revs; guides Q4 revs below consensus (RBCN) 5.07 -0.18 : Reports Q3 (Sep) earnings of $0.07 per share, $0.02 better than the First Call consensus of $0.05; revenues rose 29.7% year/year to $11.8 mln vs the $11.3 mln consensus. Co issues downside guidance for Q4, sees Q4 revs of $4-$6 mln vs. $6.16 mln consensus, which would result in an approx $1-$2 mln net loss for the period.
4:26PM International Coal beats by $0.04, beats on revs (ICO) 4.65 +1.34 : Reports Q3 (Sep) earnings of $0.06 per share, $0.04 better than the First Call consensus of $0.02; revenues rose 48.8% year/year to $309.2 mln vs the $294.2 mln consensus. For 2008, the co expects to sell approximately 19.7 mln tons of coal. Approximately 1.3 mln tons are projected to be metallurgical coal sales. The average selling price is now projected to be $53.60 to $54.00/ton, compared to the co's previous guidance of $54.00 to $55.00/ton. The projected average cost/ton sold is $46.25 to $46.75, compared to previous guidance of $45.00 to $47.00, excluding selling, general and administrative expenses. The co expects coal production to be approximately 18.5 mln tons. For 2009, the co expects to sell 21.0 mln to 22.0 mln tons of coal. Approximately 2.1 mln tons are projected to be metallurgical coal sales. The co is updating its price forecast for 2009, projecting that prices will average between $66.00 and $73.00/ton, based on recent price indications and a tempered economic outlook, compared to the co's previous guidance of $72.00 to $78.00/ton. Coal production is expected to total 20.5 mln to 21.5 mln tons. For 2010, the co expects to sell 21.5 mln to 23.0 mln tons of coal. Approximately 3.0 mln tons are projected to be metallurgical coal sales. The co anticipates that prices will average between $79.00 and $96.00/ton. Coal production is expected to total 21.0 mln to 22.5 mln tons.
4:22PM ValueClick reports EPS in-line, revs in-line; guides Q4 EPS below consensus, revs below consensus (VCLK) 6.62 -0.17 : Reports Q3 (Sep) earnings of $0.15 per share, excluding a stock option tender offer and certain discrete tax adjustments, in-line with the First Call consensus of $0.15; revenues fell 2.5% year/year to $152.9 mln vs the $151.9 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.15-0.16 vs. $0.19 consensus; sees Q4 revs of $140-150 mln vs. $167.66 mln consensus. Co announces a $100 mln increase in its stock repurchase program.
4:15PM Portfolio Recovery Assoc. misses by $0.03, beats on revs (PRAA) : Reports Q3 (Sep) earnings of $0.75 per share, $0.03 worse than the First Call consensus of $0.78; revenues rose 25.6% year/year to $68.6 mln vs the $65.9 mln consensus.
4:15PM Ameriprise Financial misses by $0.68, beats on revs (AMP) 21.79 -2.04 : Reports Q3 (Sep) earnings of $0.14 per share, excluding non-recurring items, $0.68 worse than the First Call consensus of $0.82; revenues fell 6.4% year/year to $2.03 bln vs the $1.95 bln consensus.
4:13PM Symantec beats by $0.02, misses on revs; guides Q3 EPS below consensus, revs below consensus (SYMC) 14.82 +0.00 : Reports Q2 (Sep) earnings of $0.37 per share, $0.02 better than the First Call consensus of $0.35; revenues rose 7.0% year/year to $1.52 bln vs the $1.54 bln consensus. Co issues downside guidance for Q3, sees EPS of $0.30-$0.33 vs. $0.36 consensus; sees Q3 revs of $1.45-$1.50 bln vs. $1.61 bln consensus. "In the face of a slowing economic environment around the world, Symantec continued to generate growth in both our core business and in high growth areas which are becoming increasingly important to our customers," said John W. Thompson, chairman and chief executive officer, Symantec. "I am also quite pleased with our continued operating margin expansion and earnings growth, which is a result of our ongoing focus on managing costs and expenses."
4:11PM Visa beats by $0.02, beats on revs; says growth may be somewhat challenged in 2010 (V) : Reports Q4 (Sep) earnings of $0.58 per share, $0.02 better than the First Call consensus of $0.56; revenues rose 16.7% year/year to $1.71 bln vs the $1.68 bln consensus. Co clarifies its financial outlook for the following metrics through 2010 with the caveat that rev growth may be somewhat challenged in 2010 given the current economic environment in the U.S. and around the globe: Annual net rev growth at the lower end of the 11-15% range; Annual adjusted operating margin in the mid-to-high 40% range; Annual adjusted diluted Class A common EPS growth of 20% or greater; Annual free cash flow in excess of $1 bln; and Capital expenditures in the range of $300-350 mln in 2009 and representing 3-4% of gross revs in 2010.
4:10PM MetLife misses by $0.01, reports revs in-line (MET) 29.55 : Reports Q3 (Sep) operating earnings of $0.88 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.89; revenues rose 14.6% year/year to $13.38 bln vs the $13.26 bln consensus. "With our recently completed $2.3 billion common stock offering, MetLife has further bolstered its strong, excess capital position. And in a sign of our continued commitment to delivering value to our shareholders, our board of directors has declared an annual common stock dividend of $0.74 per share, which is unchanged from the dividend we paid in 2007."
4:08PM CA Inc beats by $0.04, misses on revs; guides FY09 EPS in-line, revs in-line (CA) 16.59 +0.55 : Reports Q2 (Sep) earnings of $0.41 per share, $0.04 better than the First Call consensus of $0.37; revenues rose 3.7% year/year to $1.11 bln vs the $1.12 bln consensus. Co issues in-line guidance for FY09, sees EPS of $1.48-1.55, up from prior guidance of $1.45-1.52 vs. $1.49 consensus; sees FY09 revs of $4.3 bln vs. $4.5 bln consensus. Total bookings in the second quarter were $1.502 bln, up 44% compared with $1.041 bln in the prior year comparable period.
4:04PM First Solar beats by $0.19, beats on revs (FSLR) 115.75 +1.66 : Reports Q3 (Sep) earnings of $1.20 per share, $0.19 better than the First Call consensus of $1.01; revenues rose
119.2% year/year to $348.7 mln vs the $339.3 mln consensus.
4:04PM Hanesbrands beats by $0.02, beats on revs (HBI) : Reports Q3 (Sep) earnings of $0.56 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.54; revenues were unchanged from the year-ago period at $1.15 bln.
4:04PM Nighthawk Radiology reports EPS in-line, misses on revs; guides FY08 EPS below consensus, revs below consensus (NHWK) 3.79 -0.02 : Reports Q3 (Sep) earnings of $0.21 per share, in-line with the First Call consensus of $0.21; revenues fell 4.0% year/year to $43.4 mln vs the $45.2 mln consensus. Co issues downside guidance for FY08, sees EPS of $0.64-0.67 vs. $0.72 consensus; sees FY08 revs of $165-168 mln vs. $172.98 mln consensus.
4:04PM CME Group beats by $0.15, beats on revs (CME) 265.00 +1.36 : Reports Q3 (Sep) earnings of $4.13 per share, excluding non-recurring items, $0.15 better than the First Call consensus of $3.98; revenues rose 20.5% year/year to $681 mln vs the $644.3 mln consensus. Third-quarter 2008 pro forma non-operating expense was $28 mln. Investment income included $9 mln from a dividend payment associated with the company's BM&F investment. Securities lending expense included $6 mln expense related to the revaluation of a portion of the company's securities lending portfolio. Additionally, the third-quarter 2008 effective tax rate was 43.3 percent. The company expects total pro forma operating expenses in the fourth quarter to range from $270 mln to $275 mln. Fourth-quarter capital expenditures are expected to range from $85 mln to $95 mln. In addition, the expected effective tax rate for fourth-quarter 2008 and the full-year 2009 will range between 41 percent and 42 percent.
4:02PM Itron beats by $0.04, beats on revs; guides FY08 EPS in-line, revs below consensus (ITRI) 50.83 +3.30 : Reports Q3 (Sep) earnings of $0.81 per share, $0.04 better than the First Call consensus of $0.77; revenues rose 11.8% year/year to $485 mln vs the $471 mln consensus. Co issues mixed guidance for FY08, sees EPS of $3.35-3.45 from $3.35-3.50 vs. $3.44 consensus; sees FY08 revs of $1.91-1.93 bln from $1.91-1.95 bln vs. $1.94 bln consensus.
4:02PM VNUS Medical Tech beats by $0.03, beats on revs (VNUS) 15.95 +0.89 : Reports Q3 (Sep) earnings of $0.10 per share, $0.03 better than the First Call consensus of $0.07; revenues rose 32.0% year/year to $23.1 mln vs the $22 mln consensus.
4:02PM ManTech beats by $0.02, beats on revs; guides Q4 EPS in-line, revs in-line (MANT) 46.39 +2.29 : Reports Q3 (Sep) earnings of $0.67 per share, $0.02 better than the First Call consensus of $0.65; revenues rose 26.8% year/year to $486.1 mln vs the $481 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.67-0.70 vs. $0.67 consensus; sees Q4 revs of $490-510 mln vs. $497.31 mln consensus. "Our third quarter bookings were a record and year-to-date we have booked almost $2.8 billion in awards."
4:02PM Blackboard beats by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs below consensus (BBBB) 25.10 -3.50 : Reports Q3 (Sep) earnings of $0.22 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.20; revenues rose 11.8% year/year to $83.1 mln vs the $83.1 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.22-0.25, excluding non-recurring items, vs. $0.28 consensus; sees Q4 revs of $82-84.9 mln vs. $86.56 mln consensus.
9:03AM Allergan reports EPS in-line, misses on revs; guides Q4 EPS in-line; guides FY08 EPS in-line (AGN) 34.95 : Reports Q3 (Sep) earnings of $0.65 per share, excluding non-recurring items, in-line with the First Call consensus of $0.65; revenues rose 10.5% year/year to $1.1 bln vs the $1.11 bln consensus. Co issues in-line guidance for Q4, sees EPS of $0.72-0.76 vs. $0.75 consensus. Co issues in-line guidance for FY08, sees EPS of $2.53-2.57 vs. $2.56 consensus.
8:32AM MGM Mirage misses by $0.02, beats on revs (MGM) 10.33 : Reports Q3 (Sep) earnings of $0.29 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.31; revenues fell 5.7% year/year to $1.95 bln vs the $1.82 bln consensus... In early October, CityCenter successfully completed the first phase of its financing by securing a $1.8 bln senior bank credit facility. CityCenter has received additional signed commitment letters totaling in excess of $500 mln, and the co and Dubai World continue to work with lenders to obtain additional financing, up to a total of $3.0 bln, for CityCenter. During Q3, the co and Dubai World each provided CityCenter with additional loans of $300 mln to fund construction... In October 2007, the co announced the development of MGM Grand Atlantic City, to be located adjacent to the Borgata on a 72-acre site in Renaissance Point in Atlantic City, New Jersey. The co has made extensive progress on design and other pre-development activities. Current economic conditions and the impact of the credit market environment have caused the co to reassess timing for the project. Accordingly, the co has postponed additional development activities.
8:08AM Kellogg beats by $0.10, reports revs in-line; guides FY08 EPS in-line (K) 50.68 : Reports Q3 (Sep) earnings of $0.90 per share, excluding non-recurring items of $0.01, $0.10 better than the First Call consensus of $0.80; revenues rose 9.5% year/year to $3.29 bln vs the $3.29 bln consensus. Co issues in-line guidance for FY08, sees EPS at higher end of $2.95-3.00 range vs. $3.00 consensus. The co also expects mid single-digit internal sales and internal operating profit growth for the full year. Total cost pressure expectations remain at approximately 9% of cost of goods. For 2009, K anticipates another year of sustainable and dependable performance. Given the current business momentum, the co provided guidance of mid single-digit internal sales growth -- above its long-term guidance of low single-digit growth. In addition, internal operating profit is projected to also grow at a mid single-digit rate. The co remains confident that it can achieve high single-digit EPS growth on a currency neutral basis, which excludes the effects of foreign currency translation but includes the impact of acquisitions, dispositions and differences in the number of shipping days. However, the recent volatility in foreign exchange markets makes forecasting reported EPS growth very difficult at this time.
8:04AM Berry Petroleum beats by $0.03, beats on revs (BRY) 19.19 : Reports Q3 (Sep) earnings of $1.17 per share, $0.03 better than the First Call consensus of $1.14; revenues rose 80.4% year/year to $240.8 mln vs the $233.7 mln consensus. In light of the current commodity price environment Berry has reduced capital activity in the fourth quarter of 2008, by releasing eight of the 12 rigs we had drilling in the third quarter of 2008. As a result, we expect fourth quarter production to average between 37,000 and 38,000 BOE/D and remain flat into the first quarter of 2009. At current commodity prices, capital activity in 2009 will be at a reduced level compared to 2008. In 2009 capital expenditures of approximately $200 million would allow the Company to maintain production while generating free cash flow to pay down debt. The co has the flexibility to further reduce its capital spending at lower commodity price levels.
8:04AM AGCO Corp beats by $0.26, beats on revs; guides FY08 EPS above consensus (AG) 26.82 : Reports Q3 (Sep) earnings of $1.04 per share, excluding non-recurring items, $0.26 better than the First Call consensus of $0.78; revenues rose 29.3% year/year to $2.09 bln vs the $2.03 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.90-4.00 vs. $3.81 consensus. The projected increase in earnings is expected to result from net sales growth of between 22% and 24% compared to 2007. Operating margin improvement in 2008 is expected to result from higher sales volumes, price increases and cost reduction efforts.
8:03AM Inverness Medical misses by $0.04, reports revs in-line (IMA) 17.70 : Reports Q3 (Sep) earnings of $0.46 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of $0.50; revenues rose 84.7% year/year to $438.8 mln vs the $438.6 mln consensus.
7:35AM Borg Warner misses by $0.12, misses on revs (BWA) 23.89 : Reports Q3 (Sep) earnings of $0.44 per share, excluding non-recurring items, $0.12 worse than the First Call consensus of $0.56; revenues rose 0.3% year/year to $1.32 bln vs the $1.37 bln consensus. Co said, "Looking into 2009, our preliminary view of the year would indicate flat year-over-year sales, excluding the impact of foreign currencies which will be negative. Our current production assumptions are a build rate of less than 12 million units in North America and close to 13 million units in Western Europe. Earnings could be flat year-over-year." The company will provide formal full-year 2009 guidance in January.
7:34AM Alpha Natural Resources misses by $0.09, beats on revs (ANR) 29.63 : Reports Q3 (Sep) earnings of $0.90 per share, excluding non-recurring items, $0.09 worse than the First Call consensus of $0.99; revenues rose 40.4% year/year to $715 mln vs the $693.2 mln consensus. "Apprehension about an economic slowdown has clouded the market outlook considerably over the last 90 days. On one hand, as of mid October we had about 18 million tons of coal -- about 70 percent of our planned production for next year -- contracted at excellent prices. Substantially all our planned thermal coal production is locked up for 2009 and we reached agreements for a considerable portion of our 2009 domestic metallurgical coal business in the third quarter. But the key for us next year will be our international contracts for the 2009 - 2010 time frame, and it's still too early to tell how that will fall into place."
7:33AM Cincinnati Fincl misses by $0.04, beats on revs (CINF) 24.10 : Reports Q3 (Sep) earnings of $0.45 per share, $0.04 worse than the First Call consensus of $0.49; revenues rose 20.8% year/year to $1.19 bln vs the $0.92 bln consensus. "Outlook for specific full-year 2008 metrics unchanged from September update. Management anticipates full-year profitability and continued capital strength, which supports our cash dividend and continued investment in insurance operations, even in a difficult economic and industry environment."
7:27AM Owens Corning reports Q3 results, beats on revs (OC) 15.40 : Reports Q3 (Sep) earnings of $0.72 per share, excluding $899 mln non-cash charge, may not compare to the the First Call consensus of $0.29; revenues rose 28.5% year/year to $1.63 bln vs the $1.51 bln consensus. Gross margin as a percentage of sales for Q3 declined by one percentage point compared to 3Q07, while it declined by two percentage points for the nine months ended Sep 30, 2008 compared to the same period in 2007. OC continues to estimate that 2008 adjusted EBIT will be at least $265 mln.
7:24AM Noble Energy beats by $0.17, beats on revs (NBL) 42.92 : Reports Q3 (Sep) earnings of $2.08 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $1.91; revenues rose 34.9% year/year to $1.1 bln vs the $1.01 bln consensus.
7:14AM Corning beats by $0.02, misses on revs; guides Q4 EPS below consensus, revs below consensus (GLW) 11.42 : Reports Q3 (Sep) earnings of $0.46 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.44; revenues rose 0.1% year/year to $1.55 bln vs the $1.59 bln consensus. Co issues downside guidance for Q4, sees EPS of $0.20-0.28 vs. $0.42 consensus; sees Q4 revs of $1.2-1.3 bln vs. $1.54 bln consensus. Co said, "We are now seeing the impact of the global economic turmoil on several of our businesses, most notably our display business. Recent retail data, supplied by the NPD Group, revealed considerable slowing of U.S. consumer LCD television purchases in the second half of September and again in the first half of October. As a result, we expect our fourth-quarter results to reflect appreciably lower sales as well as increased costs from capacity reductions in several of our businesses". Corning expects its consolidated gross margin to be in the range of 31% to 36%, reflecting lower margins in the display, telecommunications and environmental segments. Co also said, "we think that it is prudent to lower our 2009 glass market forecasts and plan our capacity accordingly. As such, we have revised our LCD glass market growth estimate to 5% to 15% to better reflect the potential impact of continued weak economic conditions.... We are also planning further reductions to our previously disclosed 2009 capital spending range of $1.6 billion to $1.7 billion, and potential restructuring charges in the fourth quarter."
7:11AM Alpharma beats by $0.03, beats on revs; guides FY08 EPS above consensus (ALO) 30.07 : Reports Q3 (Sep) earnings of $0.10 per share, $0.03 better than the First Call consensus of $0.07; revenues rose 31.9% year/year to $175.7 mln vs the $169.9 mln consensus. Co issues upside guidance for FY08, sees EPS of $0.25-$0.35 vs. $0.19 consensus. The outlook reflects the company's third quarter performance with revenues increasing over 30% versus the prior year, gross profit margins exceeding 63% for the third consecutive quarter, and improving leverage on investments in SG&A.
7:09AM Lazard beats by $0.03, misses on revs (LAZ) 30.20 : Reports Q3 (Sep) earnings of $0.51 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.48; revenues fell 22.5% year/year to $447.6 mln vs the $455 mln consensus. "Although market depreciation has affected the value of Assets Under Management, we continue to gather assets and provide a variety of superior investment solutions to clients. We will continue to focus on containing costs firm-wide, but we see the current environment as an opportunity to invest in our business."
7:09AM Procter & Gamble beats by $0.05, reports revs in-line; guides Q2 EPS in-line; guides FY09 EPS in-line (PG) : Reports Q1 (Sep) earnings of $1.03 per share, $0.05 better than the First Call consensus of $0.98; revenues rose 9.0% year/year to $22.03 bln vs the $21.86 bln consensus. Co issues in-line guidance for Q2, sees EPS of $1.45-1.50, excluding non-recurring items, vs. $1.47 consensus. Co issues in-line guidance for FY09, sees EPS of $4.15-4.25, excluding non-recurring items, vs. $4.17 consensus.
7:07AM Hercules Offshore beats by $0.02, beats on revs (HERO) 5.13 : Reports Q3 (Sep) earnings of $0.37 per share, $0.02 better than the First Call consensus of $0.35; revenues rose 15.8% year/year to $315.7 mln vs the $300.9 mln consensus.
7:06AM Garmin beats by $0.03, reports revs in-line; lowers FY08 guidance (GRMN) 21.43 : Reports Q3 (Sep) earnings of $0.87 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.84; revenues rose 19.3% year/year to $870 mln vs the $865.6 mln consensus. Co issues downside guidance for FY08, sees EPS of $3.78 vs. $3.89 consensus; sees FY08 revs of $3.6 bln vs. $3.81 bln consensus. Anticipates operating margins to be approximately 24% for the full year 2008... "While we believe Garmin is offering the most compelling and competitive products in the marketplace, we also recognize that some markets are slowing in these difficult economic times. Due to the continued deterioration of the economic conditions, its impact on consumers worldwide, and the continued weakening of the Euro against the US dollar, we are revising our full-year guidance."
7:05AM Cardinal Health beats by $0.04, misses on revs; reaffirms FY09 EPS guidance (CAH) 38.22 : Reports Q1 (Sep) earnings of $0.74 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.70; revenues rose 10.8% year/year to $24.3 mln vs the $22843.3 mln consensus. Co reaffirms guidance for FY09, sees EPS of $3.80-3.95 vs. $3.84 consensus.
7:04AM Moody's beats by $0.03, beats on revs; guides FY08 EPS below consensus (MCO) 20.61 : Reports Q3 (Sep) earnings of $0.45 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.42; revenues fell 17.4% year/year to $433.4 mln vs the $418.8 mln consensus. Co issues lowers guidance for FY08, sees EPS of $1.71-1.77 vs. $1.83 consensus, prior guidance $1.90-2.00. The Company now expects full-year 2008 revenue to decline in the low-twenties percent range.
7:04AM Kraft Foods beats by $0.01, reports revs in-line (KFT) 28.88 : Reports Q3 (Sep) earnings of $0.44 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.43; revenues rose 19.4% year/year to $10.46 bln vs the $10.4 bln consensus. Co reiterates its FY09 guidance for organic net revenue growth of at least 4.0% and GAAP EPS of at least $2.00.
7:04AM Office Depot misses by $0.08, misses on revs (ODP) 1.89 : Reports Q3 (Sep) loss of $0.01 per share, $0.08 worse than the First Call consensus of $0.07; revenues fell 7.1% year/year to $3.66 bln vs the $3.83 bln consensus.
6:31AM SPX Corp beats by $0.01, misses on revs; guides Q4 EPS below consensus (SPW) 43.88 : Reports Q3 (Sep) earnings of $1.66 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $1.65; revenues rose 28.8% year/year to $1.51 bln vs the $1.6 bln consensus. Co issues downside guidance for Q4, sees EPS of $1.90-2.00 vs. $2.05 consensus.
6:02AM Aetna reports EPS in-line, revs in-line; guides FY08 EPS below consensus (AET) 27.80 : Reports Q3 (Sep) earnings of $1.12 per share, excluding non-recurring items, in-line with the First Call consensus of $1.12; revenues rose 14.4% year/year to $7.98 bln vs the $7.92 bln consensus. Co issues downside guidance for FY08, sees EPS of $3.90-3.95 vs. $4.00 consensus.
6:02AM Newmont Mining beats by $0.02, misses on revs (NEM) 26.47 : Reports Q3 (Sep) earnings of $0.44 per share, $0.02 better than the First Call consensus of $0.42; revenues fell 17.0% year/year to $1.34 bln vs the $1.46 bln consensus. The Company is maintaining its initial 2008 annual equity gold sales guidance at between 5.1 and 5.4 million ounces and its original costs applicable to sales guidance of between $425 and $450 per ounce. The Company's costs applicable to sales forecast for 2008 now assumes an oil price of $75 per barrel and an Australian dollar exchange rate of 0.75 for the balance of the year. Costs applicable to sales are expected to change by approximately $1 per ounce for every $10 change in the oil price and by roughly $1 per ounce for every 0.10 change in the Australian dollar exchange rate during the remainder of the year.
6:01AM Praxair beats by $0.05, beats on revs; guides Q4 EPS below consensus (PX) 57.50 : Reports Q3 (Sep) earnings of $1.11 per share, $0.05 better than the First Call consensus of $1.06; revenues rose 20.2% year/year to $2.85 bln vs the $2.73 bln consensus. Co issues downside guidance for Q4, sees EPS of $1.03-1.08 vs. $1.09 consensus.
2:45AM Suncor Energy misses by C$0.11 (SU) 19.82 : Reports Q3 (Sep) earnings of C$1.04 per share, excluding non-recurring items, C$0.19 worse than the First Call consensus of C$1.23.
12:48AM Gulfmark Offshore beats by $0.07, beats on revs (GLF) 28.39 : Reports Q3 (Sep) earnings of $1.69 per share, excluding vessel sale gains, $0.07 better than the First Call consensus of $1.62; revenues rose 66.8% year/year to $124.6 mln vs the $119 mln consensus.
12:33AM Dentsply beats by $0.02, misses on revs; reaffirms FY08 EPS in-line (XRAY) 28.29 : Reports Q3 (Sep) earnings of $0.46 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.44; revenues rose 8.6% year/year to $530 mln vs the $537.2 mln consensus. Co reaffrims in-line guidance for FY08, sees EPS of $1.86-1.91, excluding non-recurring items, vs. $1.90 consensus.
12:31AM Boston Prpts beats by $0.11, reports revs in-line; guides Q4 EPS above consensus; guides FY09 EPS below consensus (BXP) 72.50 : Reports Q3 (Sep) funds from operations of $1.32 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $1.21; revenues fell 3.1% year/year to $357.1 mln vs the $358.9 mln consensus. Co issues upside guidance for Q4, sees FFO of $1.34-1.38 vs. $1.32 consensus. Co issues downside guidance for FY09, sees FFO of $4.65-4.90 vs. $5.27 consensus (previous guidance called for FFO of $4.86-4.92).
12:17AM Pzena reports EPS in-line, beats on revs (PZN) 5.02 : Reports Q3 (Sep) earnings of $0.11 per share, excluding non-recurring items, in-line with the First Call consensus of $0.11; revenues fell 37.8% year/year to $25 mln vs the $24.6 mln consensus.
12:15AM Encore Acquisition misses by $0.25, beats on revs (EAC) 25.05 : Reports Q3 (Sep) earnings of $1.15 per share, excluding non-recurring items, $0.25 worse than the First Call consensus of $1.40; revenues rose 73.0% year/year to $337.5 mln vs the $316 mln consensus.
12:00AM Central European Media reports Q308 results (CETV) 20.00 : Reports Q3 (Sep) loss of $0.35 per share; revenues rose 15.0% year/year to $201 mln. As reported investor meeting on October 23, 2008, co expects to deliver Segment Net Revenues of $1,039 mln and Segment EBITDA of $370 m;m in 2008 based on exchange rates in effect on October 21, 2008.
12:00AM Manitowoc misses by $0.01, misses on revs; guides FY08 EPS below consensus (MTW) 10.51 : Reports Q3 (Sep) earnings of $0.80 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.81; revenues rose 19.6% year/year to $1.11 bln vs the $1.26 bln consensus. Co issues downside guidance for FY08, sees EPS of $3.15-3.25, excluding non-recurring items, vs. $3.44 consensus.
No comments:
Post a Comment