6:35PM Eastman raises Q3 EPS guidance above consensus (EMN) 42.75 -3.53 : Co raises Q3 EPS guidance; co raises Q3 EPS guidance, excluding costs related to strategic actions are expected, to be above the high end of the current range of analysts' estimates of $1.30 vs $1.23 First Call consensus. The improved earnings per share were driven by higher operating earnings primarily due to a recent decline in raw material and energy costs, higher sales revenue, and ongoing cost reductions which more than offset lower sales volume due to softening demand.
6:06PM IBM preannounces Q3 EPS above consensus, revs below; reaffirms FY08 EPS (IBM) 90.55 -5.10 : Co preanounces Q3 EPS above consensus; co sees EPS at $2.05 vs $2.02 First Call consensus. Co provides downside revs guidance; co sees revs of $25.3 bln vs $26.5 bln consensus. Co also reaffirms FY08 EPS of at least $8.75 vs $8.76 consensus. The co's gross profit margin in Q3 was 43.3% compared with 41.3% in Q3 of 2007. Pre-tax income was $3.9 bln, an increase of 19% compared with Q3 of 2007. At the end of Q3, IBM's year-to-date free cash flow was ~$6.4 bln and its cash balance was $9.8 bln. The co's gross profit margin in Q3 was 43.3% compared with 41.3% in Q3 of 2007. Pre-tax income was $3.9 bln, an increase of 19%compared with Q3 of 2007.
4:20PM Ruby Tuesday misses by $0.10, misses on revs; guides FY09 EPS below consensus (RT) 49.76 -1.49 : Reports Q1 (Aug) earnings of $0.01 per share, $0.10 worse than the First Call consensus of $0.11; revenues fell 6.6% year/year to $324 mln vs the $329.8 mln consensus. Co issues downside guidance for FY09, sees EPS of $0.30-0.35 vs. $0.54 consensus. Co says, " We reduced debt $40 mln in the quarter and anticipate reducing debt a total of $80-90 mln for the year. We plan on opening two co-owned restaurants during the remainder of FY09. At this time, we expect to close an additional 10 Company-owned restaurants due to lease expirations."
4:06PM Men's Wearhouse lowers Q3 EPS guidance, sees Q3 EPS of $0.24-0.28, down from $0.36-0.40, vs $0.37 First Call consensus (MW) 17.64 +0.07 : "The Company's retail apparel operations in the United States have experienced reduced traffic levels from previous expectations, largely a direct reflection of the recent turmoil in the credit markets which appears to be impacting consumer buying patterns and levels. We are estimating those trends will continue through the final month of the quarter. Tuxedo rental revenues, quarter to date, are trending positively to the company's initial plans for the quarter."
4:04PM Nu Horizons Elec beats by $0.05, beats on revs (NUHC) 2.78 -0.24 : Reports Q2 (Aug) earnings of $0.09 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.04; revenues rose 14.2% year/year to $211.8 mln vs the $203.3 mln consensus. Co says, "Despite some current weakness, we believe the European market represents an important growth opportunity for us. With our increased presence in the UK, Germany, Austria, Poland, Hungary, the Czech Republic and now the Nordic region, we believe we are in a strong position to grow as these markets expand over time."
1:31PM Origin Agritech doubles market penetration efforts to 1,000 demonstration lots, sees seed prices increasing (SEED) 3.22 -0.44 : Co announces that it has doubled market penetration efforts for the upcoming FY09 selling season to include 1,000 demonstration lots up from 500 lots in FY08 due to increased demand for its seed products. Co continues to see seed prices increasing as the demand for these products continue to be driven by non-ethanol related demand for corn. Of particular importance is the increase of the incomes of the growing middle class and the demand for higher-quality food products in China. Co reiterates the fact GMO approval of the first genetically-modified corn product in China continues to be on track. The co's conventional hybrid pipeline remains productive as co expects eight total seed approvals this year across four main product categories. Additionally, co expects that to be cash flow positive for FY08, as expense base continues to decline. The balance sheet still remains strong with $48.8 mln in cash and cash equivalent as of June 30, 2008.
8:16AM American Eagle sees Q3 EPS of $0.31-$0.34 vs $0.35 First Call consensus; Sept same store sales of -6.0% vs -6.0% Briefing consensus (AEO) 12.51 : Co sees EPS of $0.31-$0.34 vs $0.35 First Call consensus and vs previous guidance of $0.31-$0.36. Co reports Sept comparable sales of -6.0% vs -6.0% Briefing consensus. Comparable stores sales decreased 7% for the year-to-date period compared to the same 35 week period last year.
8:06AM Monsanto beats by $0.10, beats on revs; guides FY09 EPS below consensus (MON) 74.18 : Reports Q4 (Aug) loss of $0.03 per share, $0.10 better than the First Call consensus of ($0.13); revenues rose 35.1% year/year to $2.05 bln vs the $1.9 bln consensus. Co issues downside guidance for FY09, sees EPS of $4.20-4.40 vs. $4.60 consensus. Co also provided guidance for free cash flow for fiscal year 2009 in the range of $1.8 bln. The company expects net cash provided by operating activities to be $3 bln, and net cash required by investing activities to be approximately $1.2 bln for fiscal year 2009. Co announced that it now expects that gross profit for the entire company will grow to $9.5-9.75 bln for 2012, or roughly two- and-a-quarter times the company's 2007 base. This estimate exceeds the company's prior gross profit estimate of $8.6-9.1 bln. The company also noted that it expects to realize a compound annual growth rate for gross profit of 18-20% through 2012.
3:21AM LDK Solar updates Q308 outlook (LDK) 19.32 : Co issues upside guidance for Q3 (Sep), sees Q3 (Sep) revs of $530.0-540.0 mln vs. $491.00 mln First Call consensus. Co estimates wafer shipments between 230 to 240 MW compared to previous guidance of 210-220 MW. Co also announces that it reached the annualized wafer production capacity of 1.2 GW by the end of Q308.
3:15AM Costco reports September same store sales increased 7.0% (COST) 57.80 : Co reports same store sales for September increased 7.0%. Net sales were $6.67 bln, an increase of 10% from $6.05 bln during the similar five-week period of the prior year.
3:12AM Costco beats by $0.04, reports revs in-line (COST) 57.80 : Reports Q4 (Aug) earnings of $0.97 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.93; revenues rose 12.8% year/year to $23.1 bln vs the $22.95 bln consensus.
12:05AM NetScout Systems guides Q209 revenue and EPS higher, reaffirms FY09 guidance (NTCT) 7.92 : Co issues upside guidance for Q2 (Sep), sees EPS of $0.21-0.23, excluding non-recurring items, vs. $0.14 First Call consensus; sees Q2 (Sep) non-GAAP revs of $72.0-73.0 mln vs. $65.53 mln consensus. Co reaffirms in-line guidance for FY09 (Mar), sees EPS of $0.55-0.65, excluding non-recurring items, vs. $0.63 consensus; sees FY09 (Mar) non-GAAP revs of $260.0-270.0 mln vs. $267.27 mln consensus. NetScout's Q209 guidance is supported by revenue and earnings led by the wireless telecommunications sector. In the quarter, NetScout recognized revenue from prior shipments to a large wireless carrier that previously was recorded as deferred product revenue on the June 30, 2008 balance sheet. This deferred product revenue recognition in Q2 accounted for the sequential growth in quarterly revenue. For 2H09, NetScout anticipates continuing strong revenue flow from the wireless and government sectors which is expected to partially offset anticipated weakness in the economy and its potential impact on NetScout's enterprise customers. As a result, NetScout expects financial results for the second half of the fiscal year to be consistent with previously issued full year guidance.
No comments:
Post a Comment