Earnings - 14th May 2009

5:32PM Middleby beats by $0.16, beats on revs (MIDD) 42.59 -0.61 : Reports Q1 (Mar) earnings of $0.77 per share, $0.16 better than the First Call consensus of $0.61; revenues rose 12.8% year/year to $181.5 mln vs the $167.4 mln consensus. We remain on track to realize our cost savings targets and anticipate this business will reach operating margins in excess of 10% this year and the transaction will be accretive in the second half of 2009. We continue to be very excited about this technology and the opportunity to expand the current customer base. Despite the challenging market conditions we continue to see strong interest in TurboChef products."

4:11PM Nordstrom beats by $0.05, beats on revs; raises FY10 EPS guidance, reaffirms FY10 comps guidance (JWN) 20.95 +0.68 : Reports Q1 (Apr) earnings of $0.31 per share, $0.05 better than the First Call consensus of $0.26; revenues fell 9.0% year/year to $1.71 bln vs the $1.69 bln consensus. Based on first quarter performance, the company is revising its outlook for the 2009 fiscal year to reflect increases in gross profit and credit card revenue, partly offset by an increase in bad debt expense. Co raises guidance for FY10, sees EPS of $1.25-1.50, including impact of $0.06 tax benefit, up from prior guidance of $1.10-1.40, vs. $1.27 consensus. Co reaffirms FY10 comps guidance, sees decline of 10-15%.

4:06PM Agilent reports EPS in-line, beats on revs (A) 18.33 +0.28 : Reports Q2 (Apr) earnings of $0.13 per share, in-line with the First Call consensus of $0.13; revenues fell 25.1% year/year to $1.09 bln vs the $1.07 bln consensus. Looking ahead, Bill Sullivan, Agilent president and chief executive officer, noted that there are some tentative signs that the global downturn may be nearing a trough. Said Sullivan, "If these early signals of a bottoming in global electronics markets continue, we could anticipate a bottoming in our electronic measurement business in the next few months. There are also some indications that bio-analytical markets could begin to benefit from the global stimulus packages by year-end.Based on these indicators, we would expect full year fiscal 2009 revenues to be down roughly 25 percent from 2008."

4:03PM ICX Technolgies beats by $0.10, beats on revs; lowers FY09 rev guidance (ICXT) 4.44 +0.23 : Reports Q1 (Mar) loss of $0.10 per share, $0.10 better than the First Call consensus of ($0.20); revenues rose 31.7% year/year to $47.8 mln vs the $40.7 mln consensus. Co lowers revenue guidance for FY09, sees FY09 revs of $190-200 mln vs. $199.87 mln consensus, prior guidance $196-206 mln. Co reaffirms its annual adjusted EBITDA guidance in the range of $2 million to $7 million.

7:34AM Am Superconductor beats by $0.02, beats on revs; guides FY10 EPS below consensus, revs below consensus (AMSC) 24.44 : Reports Q4 (Mar) earnings of $0.03 per share, $0.02 better than the First Call consensus of $0.01; revenues rose 59.4% year/year to $61.2 mln vs the $57.9 mln consensus. Co issues downside guidance for FY10, ending in March 2010, sees EPS of $0.01-0.03 vs. $0.05 consensus; sees FY10 revs of $2.25-2.35 mln vs. $241.56 mln consensus. Co said, "We are increasing our gross margin target for fiscal 2009 from a range of 28 percent to 30 percent to a range of 30 percent to 32 percent... We also expect to be net cash flow positive in fiscal year 2009."

7:04AM Wal-Mart reports EPS in-line; guides Q2 EPS in-line (WMT) 50.03 : Reports Q1 (Apr) earnings of $0.77 per share, in-line with the First Call consensus of $0.77; revenues fell 0.6% year/year to $93.47 bln, in-line with company preannouncement. Co issues in-line guidance for Q2, sees EPS of $0.83-0.88 vs. $0.85 consensus.

7:02AM Kohl's beats by $0.02, reports revs in-line; guides Q2 EPS in-line; raises FY10 guidance range (KSS) 41.95 : Reports Q1 (Apr) earnings of $0.45 per share, $0.02 better than the First Call consensus of $0.43; revenues rose 0.4% year/year to $3.64 bln vs the $3.62 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.56-0.64 vs. $0.61 consensus. Co updates for FY10, sees EPS of $2.19-2.42 vs. $2.53 consensus, prior guidance $2.00-2.30.

6:33AM Gildan Activewear misses by $0.04, beats on revs (GIL) 10.85 : Reports Q2 (Mar) earnings of $0.06 per share, $0.04 worse than the First Call consensus of $0.10; revenues fell 16.7% year/year to $244.8 mln vs the $226.4 mln consensus; due primarily to a 21.9% decline in activewear sales including a 13.9% decrease in unit shipments of activewear. Gross margins in Q2 were 15.8%, compared to 28.8% after recasting prior year comparatives to reflect the reclassification of manufacturing depreciation and certain items from selling, general and administrative expenses to cost of sales.

6:10AM Urban Outfitters beats by $0.01, reports revs in-line (URBN) 18.83 : Reports Q1 (Apr) earnings of $0.18 per share, $0.01 better than the First Call consensus of $0.17; revenues fell 2.4% year/year to $384.8 mln vs the $386.8 mln consensus

7:54AM JC Penney beats by $0.01, reports revs in-line; guides Q2 EPS below consensus (JCP) 26.65 : Reports Q1 (Apr) earnings of $0.11 per share, $0.01 better thanthe First Call consensus of $0.10; revenues fell 5.9% year/year to $3.88 bln vs the $3.88 bln consensus. Co issues downside guidance for Q2, sees EPS of ($0.25)-($0.15) vs. ($0.09) consensus; sees total sale down 7-10%, comparable store sales down 9-12%. Co says it is raising guidance for FY10, sees EPS of $0.50-0.65 vs. $0.76 consensus; expects full year comparable store sales to decrease approximately 9%. Co said,  "Looking to the balance of the year, we expect consumer spending and mall traffic to remain weak, which will be particularly evident against tough comparisons in the second quarter. As these conditions persist, we will continue to deliver newness and excitement in our merchandise assortments while maintaining a vigilant focus on the areas of the business we control."

7:04AM Fuqi Intl beats by $0.11, misses on revs; guides Q2 EPS in-line, revs below consensus; guides FY09 EPS above consensus, revs below consensus (FUQI) 6.49 : Reports Q1 (Mar) earnings of $0.45 per share, $0.11 better than the First Call consensus of $0.34; revenues rose 41.0% year/year to $109.4 mln vs the $111.1 mln consensus. Co issuesmixed guidance for Q2, sees EPS of $0.27-0.32 vs. $0.29 consensus; sees Q2 revs of $89.5-93.5 mln vs. $95.74 mln consensus. Co issues mixed guidance for FY09, sees EPS of $1.49-1.63 vs. $1.44 consensus; sees FY09 revs of $442-465 mln vs. $469.44 mln consensus. Gross profit margin for the first quarter of 2009 increased 510 bps to 16.5% compared to 11.4% in the same period in the prior year.

Earnings - 11th Dec 2008

6:38PM Borg Warner lowers 2008 EPS guidance below consensus (BWA) 22.38 -2.27 : Co lowers 2008 EPS to $1.85-1.95, excluding non-recurring charges, vs $2.25 First Call consensus, down from $2.25-2.35. Co says, "The downward spiral of the auto industry continues to accelerate across the globe. The crisis is not solely a North American automotive industry issue, nor about perceptions of domestic automakers not having the right products for the market. Rather, this is a situation where consumers in every geographic region of the world have become paralyzed by the global financial and economic crisis. We are actively adjusting our cost structure, but are struggling to respond fast enough to the daily stream of new customer information on plant closings, extended holiday shutdowns and production schedule reductions."

6:21PM United Tech reaffirms FY08 EPS below consensus, guides FY09 EPS in-line with consensus, guides FY09 revs below consensus (UTX) 47.08 -0.93 : Co reaffirms FY08 EPS of $4.90 vs $4.93 First Call consensus, sees FY09 EPS of $4.65-5.15 vs $5.03 consensus. Co sees FY09 revs of $57 bln vs $59.1 bln consensus. Co says, "Strength in our long cycle businesses and benefits from early cost reduction actions should more than offset adverse impacts from the stronger U.S. dollar and rapidly deteriorating end markets in the second half of the year... We expect difficult and uncertain economic conditions through much of 2009. We are confident UTX's strong global franchises and experienced management team will continue to outperform even in this environment. We anticipate that further deployment of our ACE operating system, continued focus on cost controls, and benefits from early and substantial restructuring actions taken in 2008 will help offset significant foreign currency related headwind on earnings in 2009. All six operating divisions are expected to expand margins in 2009. Liquidity is not an issue at UTX and we continue to expect cash flow from operations less capital expenditures to equal or exceed net income in 2009. These strong cash flows, coupled with continued access to the commercial paper market and low levels of long-term debt maturing over the next year, give us confidence that we can continue our acquisition agenda along with our share repurchase program."

5:01PM Danaher sees FY09 EPS of $3.70-$4.10 vs First Call consensus of $4.10 (DHR) 49.68 -1.52 : Co issues downside guidance, sees FY09 EPS of $3.70-$4.10 vs $4.10 First Call consensus. CEO stated, "We have taken significant steps to prepare our businesses for what we believe will be a difficult year ahead. However, despite the current economic backdrop, we believe we are well positioned for 2009."

4:44PM Waters lowers Q4 EPS and revs guidance below consensus (WAT) 41.88 +0.68 : Co lowers Q4 EPS to $0.94-0.99 vs $1.08 First Call consensus, down from $1.08-1.12, lowers revs to $410-420 mln vs $449.8 mln consensus, down from ~$454 mln. Co lowered its outlook due to weaker than expected orders for new instruments resulting from deterioration in global economic conditions. Co says, "Global economic conditions have weakened since our October conference call and we now see a generally more difficult business environment ahead of us. Capital spending is more constrained as our customers are more cautious given the recent economic turbulence in many regions of the world. Additionally, foreign exchange impacts are unfavorably affecting our business growth and profitability. These conditions are likely to continue into next year and we are presently assessing our spending plans to align with lower sales expectations going forward."

4:08PM Martek Biosci reports EPS in-line, beats on revs; guides Q1 EPS in-line, revs in-line (MATK) 27.32 -1.58 : Reports Q4 (Oct) earnings of $0.27 per share, excluding non-recurring items, in-line with the First Call consensus of $0.27; revenues rose 10.2% year/year to $90.4 mln vs the $89.3 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.27-0.29 vs. $0.29 consensus; sees Q1 revs of $86-89 mln vs. $89.75 mln consensus. For 2009 the Company expects moderate growth of both revenues and profitability over fiscal 2008 with profitability growing at a higher rate than revenues primarily due to improvements in gross profit margins; however, a deep, prolonged economic recession would yield additional uncertainty with respect to the Company's attainment of its forecasted operating results.

8:32AM Edwards Lifesci issues mixed guidance for FY09; gets an approvable for the LifeStent product line (EW) 46.44 : Co issues mixed guidance for FY09 (Dec), sees EPS of $2.93-3.03 vs. $2.93 First Call consensus; sees FY09 (Dec) revs of $1.24-1.30 bln vs. $1.33 bln consensus. Co announced that it has received an approvable letter from the FDA for the LifeStent product line and has completed the transfer of its PMA application to C.R. Bard, Inc., which purchased the line in January 2008. In exchange, Bard has paid Edwards $23 million of the previously negotiated $50 million milestone payment. The remaining $27 million will be paid upon receipt of the PMA, which is expected in 2009.
8:00AM Cummins lower 2008 outlook to reflect worsening economic conditions (CMI) 26.86 : Co revises its outlook for 2008 due to the continuing decline in many of its key markets around the world. Co now expects 2008 sales to increase by 9% over 2007, compared to its previous guidance of a 12% increase (current consensus is for FY08 revs increase of ~11.9% YoY). Earnings Before Interest and Taxes (EBIT) is forecast to be slightly more than 9% of sales, compared to the earlier guidance of 10%. Co has taken a number of steps to address the slowing demand over the past month, including: Initiated temporary plant shutdowns, shortened work weeks and extended traditional holiday closing periods; Eliminated temporary employees in a number of plant locations; Reduced permanent employee levels at some manufacturing locations; Prioritized capital and IT project spending to focus on the Company's most pressing needs; Initiated a hiring freeze across most of the Company; Significantly curtailed discretionary spending. The Company also announced last week that it will reduce its professional workforce worldwide by at least 500 employees by the end of 2008. The costs associated with the employee reductions are estimated to be between $30-$40 million and will be recognized in the Company's fourth quarter earnings. The revised guidance for 2008 excludes the severance costs associated with these actions.

7:51AM Baidu.com issues downside Q4 rev guidance; sees revs of $130-$133 mln vs $140.31 mln consensus (BIDU) 104.54 : Co issues downside guidance, sees Q4 revs of $131-$133 mln vs $140.31 mln First Call consensus, and vs prior guidance of $151-$155 mln. The company noted that several factors contributed to the guidance revision. First, the economic slowdown in China is having a greater than expected impact on online marketing particularly in machinery and franchising; second, Baidu recently removed the paid search listings of customers in the medical and pharmaceutical sectors without licenses on file with Baidu; and third, after a thorough inspection of its customer base, the company removed a number of questionable paid search listings outside of the medical and pharmaceutical sectors. The company noted that a portion of its customers in the medical and pharmaceutical sectors have returned to its paid search listings following the submission of required licenses.

7:31AM Lululemon Athletica beats by $0.01, reports revs in-line; guides Q4 EPS below consensus, revs below consensus (LULU) 10.46 : Reports Q3 (Oct) earnings of $0.13 per share, $0.01 better than the First Call consensus of $0.12; revenues rose 34.1% year/year to $87 mln vs the $86.5 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.15-0.17 vs. $0.26 consensus; sees Q4 revs of $90-95 mln vs. $130.40 mln consensus.

7:03AM Ciena misses by $0.16, misses on revs; guides Q1 revs below consensus (CIEN) 7.56 : Reports Q4 (Oct) loss of $0.10 per share, excluding non-recurring items, $0.16 worse than the First Call consensus of $0.06; revenues fell 29.0% year/year to $179.7 mln vs the $198.8 mln consensus. Co issues downside guidance for Q1, sees Q1 revs of $170-185 mln vs. $190.45 mln consensus.

6:13AM Gildan Activewear misses by $0.02, misses on revs; guides Q1 EPS below consensus; guides FY09 EPS below consensus (GIL) 14.17 : Reports Q4 (Sep) earnings of $0.41 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.43; revenues rose 27.4% year/year to $324.7 mln vs the $341.4 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.00-0.05, excluding non-recurring items, vs. $0.27 consensus. Co issues downside guidance for FY09, sees EPS of $1.10-1.30, excluding non-recurring items, vs. $1.86 consensus. Gildan is now projecting total capital expenditures of approx $115.0 mln in FY09, compared with its previous estimate of approx $160.0 mln. The co's objective in FY09 is to remain cash positive after taking account of capital expenditures, approx $70.0 mln of projected additional working capital to support its planned growth in fiscal 2010 and the cash payments required following the settlement of the CRA audit.

5:09AM PMC-Sierra lowers Q408 revenue guidance (PMCS) 3.81 : Co issues downside guidance for Q4 (Dec), sees Q4 (Dec) revs of $118.0-122.0 mln vs. $128.86 mln First Call consensus. Co attributes downward revision to slower sales activity within the quarter due to a weaker macroeconomic environment.

3:27AM Costco beats by $0.03, misses on revs (COST) 53.69 : Reports Q1 (Nov) earnings of $0.65 per share, excluding pretax charge of $0.05/share related to the 'mark-to-market' adjustment of the cash surrender value of certain life insurance contracts and the impairment of corporate investments and includes negative impact of currencies, $0.03 better than the First Call consensus of $0.62; revenues rose 3.7% year/year to $16.39 bln vs the $16.68 bln consensus. According to Richard Galanti, Chief Financial Officer, "First quarter 2009 results benefited from very strong gasoline profitability when compared to last year. Results were hurt by a slowdown in non-food discretionary sales and related reductions in margins associated with these sales, primarily in the latter half of the quarter..."

Earnings - 13th Aug 2008

6:09PM Netease.com beats by $0.10, beats on revs (NTES) 24.05 +1.36 : Reports Q2 (Jun) earnings of $0.49 per share, $0.10 better than the First Call consensus of $0.39; revenues rose 9.5% year/year to $104 mln vs the $99 mln consensus.

6:06PM Ctrip.com beats by $0.05, beats on revs; guides Q3 revs; Board approves $15 shrae repurchase (CTRP) 43.20 -2.59 : Reports Q2 (Jun) earnings of $0.25 per share, $0.05 better than the First Call consensus of $0.20; revenues rose 30.0% year/year to $55 mln vs the $53.8 mln consensus. For the third quarter of 2008, Ctrip expects the year-on-year net revenue growth rate to be in the range of 15-20%. The board of directors has approved a share repurchase program, which is subject to shareholder approval during CTRP's annual general meeting currently scheduled in September 2008. The board has authorized CTRP to repurchase, using funds from CTRP's available cash balance, up to US$15 mln worth of its own ADSs.

4:09PM Network Appliance reports EPS in-line, revs in-line; issues Q2 guidance, announces $1 bln share repurchase program (NTAP) 25.69 -0.62 : Reports Q1 (Jul) earnings of $0.22 per share, in-line with the First Call consensus of $0.22; revenues rose 26.1% year/year to $869 mln vs the $861.6 mln consensus. Co issues guidance for Q2, sees EPS of $0.27-0.30 vs. $0.30 consensus; sees Q2 revs of $910-940 vs. $918.19 mln consensus. Additionally, the co announced a $1 bln share repurchase program. "Our new fiscal year got off to a good start, and our efforts to increase awareness and sales capacity in order to secure new customers are delivering results... Despite economic uncertainty, customers have continued to expand and evolve their storage infrastructure and are looking to NetApp to help them reduce costs and enable new capabilities."
4:06PM Clean Energy Fuels beats by $0.06, beats on revs (CLNE) 14.70 +0.43 : Reports Q2 (Jun) loss of $0.05 per share, $0.06 better than the First Call consensus of ($0.11); revenues rose 12.7% year/year to $34.6 mln vs the $33.8 mln consensus. "As we expected, our financial performance in the first half of 2008 was hampered by the combination of the loss of a few non-core customers, the impact of higher natural gas prices on our fixed-price customer contracts, and the long lead time for our key Port project to translate into gallons and revenue. With that said, we continue to see our pipeline grow and remain optimistic about the outlook for natural gas as a vehicle fuel," said Andrew J. Littlefair, Clean Energy's President and Chief Executive Officer. "We believe Clean Energy stands to benefit from the momentum generated from energy issues coming to the forefront in the U.S. There is proposed legislation in Congress promoting natural gas as a transportation fuel and we are seeing an increasing number of grants providing incentives to switch to natural gas fueling solutions. Highlighting Clean Energy's industry leadership, we recently teamed up with General Motors Corp. to open a hydrogen fueling station at our Clean Energy natural gas fueling station at the Los Angeles International Airport."

8:06AM Macy's beats by $0.10, reports revs in-line; guides FY09 EPS below consensus (M) 20.27 : Reports Q2 (Jul) earnings of $0.29 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.19; revenues fell 3.0% year/year to $5.72 bln vs the $5.76 bln consensus. Co issues downside guidance for FY09, sees EPS of $1.70-1.85, excluding non-recurring items, vs. $1.86 consensus. The first Q2 non-recurring item relates to the consolidation of three Macy's divisions announced in February 2008, which is expected to save approximately $100 million per year beginning in 2009. In the second quarter of 2008, the company booked consolidation costs of $26 million ($17 million after tax or 4 cents per diluted share). Second quarter 2008 results also include non-cash asset impairment charges of $50 million ($31 million after tax or 8 cents per diluted share) related to private brand tradenames acquired in the merger with The May Department Stores Company in 2005... Macy's, Inc. currently expects same-store sales in the fall season to be flat to down 1 percent, which would result in fiscal 2008 same-store sales of down 1 percent to down 1.6 percent.

7:39AM KHD Humboldt Wedag beats by $0.13, misses on revs, issues inline FY08 EPS guidance (KHD) 26.60 : Reports Q2 (Jun) earnings of $0.63 per share, excluding items, $0.13 better than the single analyst estimate of $0.50; revenues fell 9.6% year/year to $144.2 mln vs the $189.80 mln single analyst estimate. Co issues in-line guidance, sees FY08 EPS of $2.05-$2.15 vs single analyst estimate of $2.12, and sees order intake to increase to $1.1 bln. The co's order backlog is $1.3 bln, up 96% yr/yr, with 41% from Russia and Eastern Europe, 26% from the Middle East and 26% from Asia. Order intake for Q2 was $320.1 mln, up 105% yr/yr, with 53% coming from the emerging markets of Russia and Eastern Europe and 31% from Asia.

7:16AM Liz Claiborne beats by $0.09, reports revs in-line; guides Q3 EPS below consensus (LIZ) 14.91 : Reports Q2 (Jun) earnings of $0.09 per share, excluding non-recurring items, $0.09 better than the First Call consensus of ($0.00); revenues fell 7.1% year/year to $973.8 mln vs the $970.4 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.37-0.42 vs. $0.58 consensus. Co narrow guidance rannge for FY08, to EPS of $1.40-1.50 from $1.40-1.60 vs. $1.39 consensus.

7:07AM Canadian Solar reports Q2 (Jun) results, beats on revs; guides Q3 revs in-line; guides FY08 revs in-line (CSIQ) 30.91 : Reports Q2 (Jun) earnings of $0.36 per share, includes one-time non-cash debt conversion chrage of $10.2 mln, may not be comparable to the First Call consensus of $0.47; revenues rose 251.9% year/year to $212.6 mln vs the $206.8 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $245-255 mln vs. $247.63 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $850-970 mln vs. $908.93 mln consensus. "Based on current sales and supply agreements and market forecasts, we reiterate our 2009 shipment target of 500 - 550MW. The 2009 target includes about 400 MW of regular solar modules and 100 - 150 MW of e- Modules." "Shipments for Q308 are expected to be approximately 60 MW."

7:04AM Deere misses by $0.04 (DE) 69.35 : Reports Q3 (Jul) earnings of $1.32, $0.04 worse than the First Call consensus of $1.36; revenues rose 18.1% year/year to $7.07 bln vs the $7.23 bln consensus. Company equipment sales are projected to increase by about 21 percent for the full year and 29 percent for the fourth quarter of 2008. Included in the forecast is about 5 percent of currency translation impact for the year and about 3 percent for the quarter. Deere's net income is forecast to be about $425 million for the fourth quarter. Escalating raw material costs are expected to have an impact on margins for the quarter.

6:33AM Gildan Activewear beats by $0.01, beats on revs; reaffirms FY08 EPS guidance (GIL) 27.73 : Reports Q3 (Jun) earnings of $0.46 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.45; revenues rose 30.6% year/year to $380.8 mln vs the $355.6 mln consensus. Co reaffirms guidance for FY08, sees EPS of $1.45-1.50 vs. $1.48 consensus.

5:25AM Toll Brothers reports preliminary Q308 totals for home building revenues, backlog and contracts (TOL) 20.64 : Co reports that, for Q308 ending July 31, 2008, home building revenues were approx $796.5 mln, backlog was approx $1.75 bln and net signed contracts were approx $469.7 mln. These totals represented declines of 34%, 52% and 35%, respectively, in dollars, and 31%, 48% and 27%, respectively, in units, compared to Q307 results.

5:22AM Pan Am Silver misses by $0.02, beats on revs (PAAS) 25.20 : Reports Q2 (Jun) earnings of $0.31 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.33; revenues rose 31.4% year/year to $104.1 mln vs the $99 mln consensus.

3:20AM LDK Solar signs five-year wafer supply agreement with LX Telecom & Energy (LDK) 39.37 : Co signs a five-year contract to supply multicrystalline solar wafers to India-based XL Telecom & Energy. Under the terms of the agreement, LDK Solar will deliver approx 300 MW of multicrystalline silicon solar wafers to XL Telecom & Energy Limited over a five-year period, commencing in Q109 and extending through 2013.

3:14AM ING Group posts EUR 1.9 bln underlying net profit in Q2 (ING) 34.09 : Co reports underlying net profit of EUR 1,946 mln, down 28.8% from 2Q07 on lower investment income. Net EPS down 20.3% to EUR 0.94; EUR 5 bln share buyback added EUR 0.05 per share. Lower real estate & private equity valuations, lower equity capital gains account for EUR 754 mln net decline.

3:12AM Cellcom Israel reports Q208 results (CEL) 33.16 : Reports Q2 (Jun) earnings of $0.69 per share, $0.04 better than the First Call consensus of $0.65; revenues increased 9.9% year/year to $477 mln vs the $445.63 mln consensus.


1:09AM GeoEye restates financial statements for YE2005, 2006 and 2007 and for quarters ended Sept. 30, 2007 and March 31, 2008 (GEOY) 24.53 : Co restates its financial statements for the years ended December 31, 2005, 2006 and 2007 and quarterly information for such periods and for each of the quarters ended September 30, 2007 and March 31, 2008, for the following reasons: As part of the NextView program, the National Geospatial-Intelligence Agency agreed to pay approx $237 mln to share the cost of constructing the co's GeoEye-1 satellite. Additionally, co reports a decrease income tax expense and related tax liabilities from the amounts reported on the 2007 Form 10-K because the previously identified ownership change occurred earlier than previously reported and thus eliminated fewer net operating losses. Finally, co identified a decrease of $3.0 mln in direct expenses in 2007 due to an overstatement of imagery purchased from third parties associated with imagery sales in 2007.

1:03AM GeoEye reports Q208 results (GEOY) 24.53 : Reports Q2 (Jun) earnings of $0.12 per share, $0.01 worse than the First Call consensus of $0.13; revenues fell 29.1% year/year to $34.2 mln vs the $35.09 mln consensus.

12:52AM Star Bulk Carriers reports Q208 results (SBLK) 9.86 : Reports Q2 (Jun) earnings of $0.27 per share, excludes items, $0.06 worse than the First Call consensus of $0.33; revenues were $59.23 mln vs the $49.34 mln consensus.

12:46AM Sociedad Quimica y Minera reports earnings for Q208 (SQM) 32.46 : Co announces announced year/year earnings growth of 146.6% for Q208, reporting quarterly net income of $125.7 mln ($0.48 per ADR) compared to the 2007 figure of $51.0 mln ($0.19 per ADR). Operating income for Q2 reached $156.1 mln, 112.5% higher than the $73.5 mln recorded for the same period of 2007. Revenues totaled $460.8 mln, an increase of approx 43.3% with respect to Q207, when revenues amounted to $321.6 mln. No First Call estimates are available.