Earnings - 13th April 2009

4:20PM Goldman Sachs beats on top and bottom line; announces $5 bln equity offering (GS) 130.15 +5.82 : Reports Q1 (Mar) earnings of $3.39 per share, $1.79 better than the First Call consensus of $1.60; revenues rose 13.1% year/year to $9.43 bln vs the $7.09 bln consensus. Annualized return on average common shareholders' equity was 14.3% for the first quarter of 2009. The firm's Tier 1 Ratio under Basel II was 16.0% at the end of the first quarter of 2009, up from 15.6% as of November 28, 2008. The firm's Tier 1 Ratio under Basel I was 13.7% at the end of the first quarter of 2009. The firm's average global core excess liquidity was $163.74 bln for the first quarter of 2009, up from $111.43 bln for the fourth quarter of 2008... Net revenues in Trading and Principal Investments were $7.15 bln, compared with net revenues of $5.12 bln for the first quarter of 2008 and negative net revenues of $4.36 bln for the fourth quarter of 2008. As of March 27, 2009, total capital was $252.08 bln, consisting of $63.55 bln in total shareholders' equity (common shareholders' equity of $47.05 bln and preferred stock of $16.51 bln) and $188.53 bln in unsecured long-term borrowings. Book value per common share was $98.82 and tangible book value per common share (8) was $88.02, both essentially unchanged from November 28, 2008...  "Given the difficult market conditions, we are pleased with this quarter's performance... Our results reflect the strength and diversity of our client franchise, the resilience of our business model and the dedication and focus of our people. We believe these attributes position the firm to continue to create value for our clients and actively fulfill our role in the capital markets." The Board declared a dividend of $0.35 per common share to be paid on June 25, 2009 to common shareholders of record on May 26, 2009. (On Dec 16, The Board declared a dividend of $0.4666666 per common share to be paid on March 26, 2009 to common shareholders of record on February 24, 2009. The dividend of $0.4666666 per common share is reflective of a four month period (December 2008 through March 2009), due to the change in the firm's fiscal year end... Separately, the co announced a $5 bln public offering of common equity.

8:58AM SPX Corp sees 1Q09 EPS at low end of range of $0.75-0.85 vs. $0.77 First Call consensus; sees FY09 EPS of $4.40-4.80 vs. $5.11 consensus (SPW) 53.63 : Co issuesguidance for Q1 (Mar), sees EPS at low end of previous range of $0.75-0.85 vs. $0.77 First Call consensus. Co issues downside guidance for FY09 (Dec), sees EPS of $4.40-4.80 vs. $5.11 consensus; previous guidance called for EPS of $5.40-5.80; co sees FY09 (Dec) revs of $4.9-5.1 bln vs. $5.27 bln consensus. Full year organic revenues are expected to decline between 8% and 12% from 2008, compared to the co's previous target of flat to down 5%, while the impact of currency fluctuations is expected to reduce reported revenues by 4% to 5% at current rates. Co says, "Global economic conditions continued to deteriorate in the first quarter of 2009, resulting in these lowered expectations for the year. In particular, demand in our short cycle flow technology end markets has been lower than our expectations. Additionally, sales in our tools and diagnostics business have been lower than expected due to the continued stress being experienced by global vehicle manufacturers and their dealer service networks."

8:04AM Seagate Tech preannounces revs above consensus for Q3; guides above consensus for Q4 (STX) 6.65 : Co issues upside guidance for Q3 (Mar), sees Q3 (Mar) revs of $2.1 bln vs. $1.88 bln First Call consensus. Co sees Q4 revs of $1.9-2.2 bln vs $1.86 bln consensus.

7:46AM Kona Grill raises Q1 EPS and revenue guidance (KONA) 1.98 : Co raises guidance for Q1, sees loss per share of ($0.17)-($0.21) vs ($0.27) First Call consensus, and vs prior guidance of ($0.22)-($0.29). Co sees revs of $19.5 mln vs $18.9 mln First Call consensus and vs prior guidance of $18.3-$19.3 mln. Co states, "Our updated guidance reflects higher sales during the first quarter than we had originally forecasted. Additionally, we were able to successfully control operating costs, which translated into additional bottom line savings. These cost control initiatives provide us with opportunities to improve our margins once sales stabilize."