July 2010 Earnings Season Full Report, Videos, and Stock Fundamentals
July 2010 Earnings Season Full Report, Videos, and Stock Fundamentals
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Stock Market Earnings Report DELL Dell beats by $0.02
8/19/2010
DELL Dell beats by $0.02, beats on revs; reaffirms FY11 guidance Reports Q2 (Jul) earnings of $0.32 per share, $0.02 better than the Thomson Reuters consensus of $0.30; revenues rose 21.7% year/year to $15.53 bln vs the $15.2 bln consensus. DELL reports Q2 gross margin 16.6% vs 17.7% Thomson Reuters consensus, Q1 17.6%. Co reaffirms guidance for FY11, sees FY11 revs up 14-19% (consensus +16.8%), which equates to revs of $60.3-63.0 bln vs. $61.78 bln Thomson Reuters consensus, and sees non-GAAP operating income growth between 18-23%... Server and networking revenues increased 35% with rapid growth in blades. Storage revenue improved 13% led by EqualLogic storage products, which grew 63% as it gains wider adoption among customers. Services revenue increased 57% to $1.9 billion with the inclusion of Perot Systems. Dell believes the corporate client refresh is well underway and that demand will continue through the next several quarters. For the third quarter, the company expects seasonal improvements from federal government sales and commercial businesses, resulting in a pick-up in the low single digits.
Mentor Graphics MENT Stock Bullish Trend Great Earnings Report & Analysis
8/18/2010
MENT Mentor Graphics beats by $0.05 beats on revs guides Q3 EPS above consensus revs above consensusReports Q2 (Jul) earnings of $0.01 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of ($0.04); revenues rose 2.9% year/year to $187.9 mln vs the $180.5 mln consensus. Co issues upside guidance for Q3, sees EPS of ~$0.15 vs. $0.11 Thomson Reuters consensus; sees Q3 revs of ~$220 mln vs. $212.18 mln Thomson Reuters consensus. Co raises guidance for FY11, sees EPS of ~0.65 vs. $0.64 Thomson Reuters consensus, up from $0.60-0.65; raises FY11 revs to ~$880 mln vs. $867.65 mln Thomson Reuters consensus, up from $870 mln.
Stock Market Earnings Report MRVL Marvell reports EPS in-line
8/19/2010
MRVL Marvell reports EPS in-line, misses on revs; announces $500 mln buyback
Reports Q2 (Jul) earnings of $0.40 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.40; revenues rose 4.8% year/year to $896.5 mln vs the $911.6 mln consensus. MRVL reports Q2 gross margin 59.3% vs 59.2% Thomson Reuters consensus, Q1 60.6%, prior year 52.2%. Non-GAAP gross margin for Q2 was 59.3 percent vs the 59.3% consensus, compared to 55.3 percent for the second quarter of fiscal 2010 and 60.6 percent for the first quarter of fiscal 2011. Marvell also announces that its Board of Directors has authorized a program to repurchase up to $500 mln of its outstanding common shares.
Stock Market Earnings Analysis WSM Williams Sonoma beats by $0.09
8/19/2010
WSM Williams-Sonoma beats by $0.09, beats on revs; guides Q3 EPS above consensusReports Q2 (Jul) earnings of $0.31 per share, $0.09 better than the Thomson Reuters consensus of $0.22; revenues rose 15.5% year/year to $776 mln vs the $757.6 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.26-0.30 vs. $0.22 Thomson Reuters consensus; sees Q3 revs of $780-800 mln vs. $764.99 mln Thomson Reuters consensus. Co issues in-line guidance for Q4 (Jan), sees Q4 (Jan) revs of $1.1-1.14 bln vs. $1.13 bln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $1.63-1.70 vs. $1.57 Thomson Reuters consensus; sees FY11 revs of $3.374-3.434 bln vs. $3.37 bln Thomson Reuters consensus.
Stock Market Earnings Analysis DLTR Dollar Tree beats by $0.07 beats on revs
8/19/2010
DLTR Dollar Tree beats by $0.07 beats on revs guides Q3 EPS in-lineReports Q2 (Jul) earnings of $0.61 per share, $0.07 better than the Thomson Reuters consensus of $0.54; revenues rose 12.7% year/year to $1.38 bln vs the $1.35 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.57-0.62 vs. $0.61 Thomson Reuters consensus; sees Q3 revs of $1.35-1.39 bln vs. $1.37 bln Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $2.97-3.09 vs. $2.98 Thomson Reuters consensus; sees FY11 revs of $5.77-5.86 bln vs. $5.78 bln Thomson Reuters consensus, up from $5.67-5.80 bln.
Pre-Market Stock Futures SHLD Sears Hldg misses by $0.01
SHLD Sears Hldg misses by $0.01, misses on revsReports Q2 (Jul) loss of $0.19 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of ($0.18); revenues fell 0.9% year/year to $10.46 bln vs the $10.62 bln consensus. Kmart's gross margin rate increased 230 bps mainly due to reduced markdowns on apparel. The increase in Kmart's gross margin rate was partially offset by a decrease in gross margin rate of 40 bps at Sears Domestic, primarily due to reduced margins in home services, and a decrease in gross margin rate of 150 bps at Sears Canada. Co repurchased $272 mln of stock at an avg price of $75.57 per share in Q2.
Stock Market Earnings Analysis: SPLS Staples reports EPS in-line
8/19/2010
SPLS Staples reports EPS in-line, misses on revs; guides Q3 EPS below consensusReports Q2 (Jul) earnings of $0.20 per share, in-line with the Thomson Reuters consensus of $0.20; revenues were unchanged from the year-ago period at $5.53 bln. Co issues downside guidance for Q3, sees EPS of $0.39-0.41, excluding non-recurring items, vs. $0.43 Thomson Reuters consensus. Co lowers guidance for FY11, sees EPS of $1.25-1.29 vs. $1.33 Thomson Reuters consensus, down from $1.25-1.33. Co sees Q3 and FY11 rev growth in the low-single digits vs. the +1.8% and +2.3% consensus, respectively. Co raiuses tax rate forecast as it no longer anticipates that prior to the end of fiscal year 2010 the US Congress will extend the provisions that allow for the deferral of income tax on certain foreign earnings.
Pre-Market Stock Futures TECD Tech Data beats by $0.04 misses on revs
8/19/2010
TECD Tech Data beats by $0.04, misses on revsReports Q2 (Jul) earnings of $0.82 per share, $0.04 better than the Thomson Reuters consensus of $0.78; revenues rose 5.6% year/year to $5.5 bln vs the $5.4 bln consensus. "As we look ahead to the third quarter, we expect demand trends to continue and sales to follow a seasonal pattern, allowing us to deliver year-over-year sales growth, on a local currency basis, in both regions. While we anticipate the impact of foreign currencies to have a more pronounced effect on the fiscal year's second-half results than the first half, we are confident that our continued focus on responsible growth and excellent expense and asset management, will deliver solid results for the remainder of the fiscal year."
Stock Market Fundamentals Earnings Report Data Storage Company NetApp NTAP Beats
8/18/2010
NTAP NetApp beats by $0.03, beats on revs; guides Q2 EPS in-line, revs in-lineReports Q1 (Jul) earnings of $0.49 per share, $0.03 better than the Thomson Reuters consensus of $0.46; revenues rose 36.0% year/year to $1.14 bln vs the $1.13 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.47-0.50 vs. $0.47 Thomson Reuters consensus; sees Q2 revs of $1.16-1.21 bln vs. $1.17 bln Thomson Reuters consensus.
Stock Fundamental Analysis Video GYMB Earnings Gymboree beats by $0.03
8/18/2010
GYMB Gymboree beats by $0.03, misses on revs; guides Q3 EPS below consensusReports Q2 (Jul) earnings of $0.44 per share, $0.03 better than the Thomson Reuters consensus of $0.41; revenues rose 3.4% year/year to $222.7 mln vs the $226.7 mln consensus. Co issues downside guidance for Q3, sees EPS of $1.25-1.30 vs. $1.31 Thomson Reuters consensus. For the third fiscal quarter of 2010, the Company expects comparable store sales performance to be slightly negative to flat versus the same period of the prior year.
"Solar Stocks Video" STP Misses by $.06 Beats on Revs Pre-Market Stock Futures
8/18/2010
STP Suntech Power misses by $0.06, beats on revs;Reports Q2 (Jun) earnings of $0.03 per share, excluding a $1.00 impairment charge, $0.06 worse than the Thomson Reuters consensus of $0.09; revenues rose 94.7% year/year to $625.1 mln vs the $600.8 mln consensus. For the second quarter of 2010, gross margin was 18.2% compared to gross margin of 19.5% in the first quarter of 2010. STP expects Q3 shipments to increase by 15-20% QoQ. Consolidated gross margin in the third quarter of 2010 is expected to be in the mid to high teens, which is based on an assumed exchange rate of 1.29USD to the Euro. Due to continuing strong demand, Suntech has increased its 2010 shipment target from 1.3GW to 1.5GW, which is more than double total shipments for 2009. Suntech targets to achieve 1.8GW PV cell production capacity by the end of 2010. Due to the capacity expansion, Suntech expects capital expenditures of ~$300-350 mln in 2010, compared to $200 mln previously.
Retail Sector Analysis: Stock Market Earnings Report BJ's Wholesale Club
8/18/2010
BJ BJ's Wholesale misses by $0.06; lowers FY11 EPS and revs guidance (43.31 )Reports Q2 (Jul) earnings of $0.67 per share, $0.06 worse than the Thomson Reuters consensus of $0.73; (preannounced revs). Co issues guidance for FY11, sees EPS of $2.40-2.50, prior guidance $2.58-2.68, vs. $2.68 Thomson Reuters consensus; sees FY11 revs growth of 8-10% (which calc to ~$11.0-11.2 bln vs. $11.1 bln Thomson Reuters consensus), prior guidance was for growth of 9.2-11.2%. Co sees full year increase in comparable club sales of 4.0-6.0% (unchanged from prior guidance), including a contribution from gasoline sales of 0.5% to 2.5%. Merchandise comparable club sales excluding gasoline are expected to increase 2.5-4.5% (prior guidance was increase 2.7-4.7%).
Stock Futures Update Deere Fall After Earnings (NYSE: DE)
8/18/2010
DE Deere beats by $0.22, misses on revs; guides Q4 revs above consensus; narrows FY10 rev guidanceReports Q3 (Jul) earnings of $1.44 per share, $0.22 better than the Thomson Reuters consensus of $1.22; net sales of equipment operations rose 17.8% year/year to $6.22 bln vs the $6.5 bln consensus. Co issues upside guidance for Q4, sees Q4 net sales of equipment operations +32% YoY to ~$6.24 bln vs. $5.99 bln Thomson Reuters consensus. Co narrows guidance for FY10, sees FY10 net sales of equipment operations +12% YoY to ~$23.25 bln vs. +11-13% YoY previously, vs. the $23.36 bln Thomson Reuters consensus.
Lowe's Earnings Miss Estimates LOW Lowe's 2Q10 Earnings Analysis & Weekly Technical Analysis
8/16/2010
Lowe's misses by $0.01, misses on revs; guides Q3 EPS in-line, revs below consensus; lowers FY11 EPS, rev guidance (19.59 ) : Reports Q2 (Jul) earnings of $0.58 per share, $0.01 worse than the Thomson Reuters consensus of $0.59; revenues rose 3.7% year/year to $14.36 bln vs the $14.53 bln consensus. Co issues mixed guidance for Q3, sees EPS of $0.28-0.32 vs. $0.32 Thomson Reuters consensus; sees Q3 revs +3-5% YoY to ~$11.72-11.94 bln vs. $11.97 bln Thomson Reuters consensus, with comps +1-3%. Co lowers guidance for FY11, sees EPS of $1.38-1.45 vs. $1.42 Thomson Reuters consensus, down from $1.37-1.47 previously; sees FY11 revs of +4% YoY to ~$49.109 bln vs. $49.59 bln Thomson Reuters consensus, with comps ~ +2%. "With limited visibility into near-term demand, we continue to focus on operational efficiency to create value for our shareholders. Longer-term, we believe improvements in labor and housing markets will be necessary to support more consistent improvement in demand for home improvement products."
NVIDIA Miss on Earnings $0.08 worse than the Thomson Reuters
8/12/2010
NVDA NVIDIA misses by $0.08, misses on revs; guides Q3 revs in-lineReports Q2 (Jul) earnings of $0.03 per share, $0.08 worse than the Thomson Reuters consensus of $0.11; revenues rose 4.4% year/year to $811 mln vs the $831.9 mln consensus. NVDA sees Q3 gross margin of 46.5-47.5% vs 46.0% Thomson Reuters consensus. NVDA reports Q2 gross margin of 16.6% vs 45.3% Thomson Reuters consensus, Q1 45.6%. Co issues in-line guidance for Q3, sees Q3 revs of $835-851 mln vs. $884.08 mln Thomson Reuters consensus; sees Q3 gross margin of 46.5-47.5% vs 46.0% Thomson Reuters consensus..
Pan American Silver Corp PAAS Earnings Silver Commentary
8/12/2010
Stock Market Earnings Report RRGB Red Robin Gourmet Earnings
8/12/2010
RRGB Red Robin Gourmet misses by $0.08, misses on revs; lowers FY10 EPS in-lineReports Q2 (Jun) earnings of $0.28 per share, $0.08 worse than the Thomson Reuters consensus of $0.36; revenues rose 0.1% year/year to $201.3 mln vs the $207.6 mln consensus, co-owned comps -1.2%. Co lowers guidance for FY10, sees EPS of $0.90-1.10 vs. $0.94 Thomson Reuters consensus, from $1.10-1.30 previously; sees FY10 revs of $866-873 mln vs. $871.40 mln Thomson Reuters consensus, from $872-880 mln, with comps -0.5 to +0.5%.
Stock Market Earnings Analysis ADSK Autodesk beats by $0.09, beats on revs; guides Q3 EPS
8/12/2010
RRGB Red Robin Gourmet misses by $0.08, misses on revs; lowers FY10 EPS in-lineReports Q2 (Jun) earnings of $0.28 per share, $0.08 worse than the Thomson Reuters consensus of $0.36; revenues rose 0.1% year/year to $201.3 mln vs the $207.6 mln consensus, co-owned comps -1.2%. Co lowers guidance for FY10, sees EPS of $0.90-1.10 vs. $0.94 Thomson Reuters consensus, from $1.10-1.30 previously; sees FY10 revs of $866-873 mln vs. $871.40 mln Thomson Reuters consensus, from $872-880 mln, with comps -0.5 to +0.5%.
QQQQ Nasdaq 100 Gapping Down Huge Related to CSCO Earnings
8/12/2010
LDK Solar Stock Bullish Trend Great Earnings Report & Analysis
8/10/2010
LDK Solar beats by $0.14, beats on revs; guides Q3 revs above consensus; guides FY10 revs above consensusReports Q2 (Jun) earnings of $0.36 per share, $0.14 better than the Thomson Reuters consensus of $0.22; revenues rose 62.6% year/year to $565.3 mln vs the $458.4 mln consensus. Gross margin for the second quarter of fiscal 2010 was 18.0%, compared to 15.7% in the first quarter of fiscal 2010 and negative 90.0% in the second quarter of fiscal 2009. Co issues upside guidance for Q3, sees Q3 revs of $570-600 mln vs. $422.04 mln Thomson Reuters consensus; wafer shipments between 520 MW and 550 MW, and module shipments between 75 MW and 85 MW. Co issues upside guidance for FY10, sees FY10 revs of $1.95-2.0 bln vs. $1.59 bln Thomson Reuters consensus; wafer shipments between 1.95 GW and 2.0 GW and module shipments between 250 MW and 300 MW.
Cisco Systems Stock Tanking -1.93 (-8.13%) in After Hours CSCO Earnings Report
8/10/2010
Cisco Systems Conference Call Update Tanking in After Hours
8/10/2010
Cisco Systems Earnings CSCO Earnings Release Video
8/10/2010
GNK Genco Shipping Earnings Takes Delivery of 2 Supramax vessels
8/10/2010
GNK Genco Shipping & Trading Limited takes delivery of two Supramax vesselsCo has taken delivery of the Genco Pyrenees, a 2010-built Supramax vessel, and the Genco Normandy, a 2007-built Supramax vessel. The Genco Pyrenees is expected to be delivered to its charterer, Setaf Saget SAS, on or about August 12, 2010 to commence a time charter for 11-13.5 months at a rate of $19K per day... co has also reached an agreement to enter into a time charter for the Genco Normandy with STX Pan Ocean UK for ~1.5-4 months at a rate of $20K per day.
"Disney Stock" DIS Walt Disney beats by $0.09, beats on revs (Video) "Disney Stock"
8/10/2010
DIS Walt Disney beats by $0.09, beats on revsReports Q3 (Jun) earnings of $0.67 per share, excluding non-recurring items, $0.09 better than the Thomson Reuters consensus of $0.58; revenues rose 16.4% year/year to $10 bln vs the $9.38 bln consensus. The Q2 revs from Parks and Resorts increased 3% to $2.8 bln and segment operating income decreased 8% to $477 mln. Results for the quarter were driven by decreases at domestic parks and Disney Cruise Line, partially offset by improved results at international operations.
Cree Inc. Q4 2010 Earnings Release Video
8/10/2010
CREE Cree beats by $0.04, reports revs in-line; guides Q1 EPS above consensus, revs below consensusReports Q4 (Jun) earnings of $0.55 per share, $0.04 better than the Thomson Reuters consensus of $0.51; revenues rose 78.7% year/year to $264.6 mln vs the $264 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.56-0.59 vs. $0.54 Thomson Reuters consensus; sees Q1 revs of $270-280 mln vs. $283.96 mln Thomson Reuters consensus.
Stock Market Earnings Report Denbury Resources beats by $0.03
8/5/2010
Stock Market Earnings Report BCS Barclays PLC (VIDEO)
8/5/2010
Stock Market Earnings Report ACM Aecom Tech beats by $0.01
8/5/2010
Stock Market Earnings Report RAIL Freightcar America beats by $.06
8/5/2010
RAIL Freightcar America beats by $0.06, beats on revs (24.91 )Reports Q2 (Jun) loss of $0.11 per share, $0.06 better than the Thomson Reuters consensus of ($0.17); revenues rose 59.0% year/year to $31 mln vs the $26.7 mln consensus. "We have begun to see some initial signs of improvement in the market that we believe could lead to increased demand for coal-carrying railcars. Year-over-year electricity generation and coal loadings continue to improve, coal stockpiles are down compared to the prior year and railcars continue to come out of storage. However, as you can see from our level of new orders in the quarter, demand has not yet improved and customers continue to remain cautious, which gives us little visibility regarding the timing of an industry recovery and a return to more normalized levels of demand. Looking forward, we expect railcar pricing to continue to be very competitive, keeping downward pressure on margins until volume recovers to more normalized levels."
Stock Market Earnings Report NILE Blue Nile misses by $0.04
8/05/2010
Fannie Mae Losses $1.2 Billion FNM Q2 2010 Stock Market Earnings
8/5/2010
FNM Fannie Mae reports a net loss of $1.2 bln, $0.55 per shareFNM Fannie Mae reports a net loss of $1.2 bln, $0.55 per share, compared to a net loss of $11.5 bln ($2.29/share) in Q1; credit costs declineFannie Mae (FNMA/OTC) reported today a net loss of $1.2 billion in the second quarter of 2010, compared to a net loss of $11.5 billion in the first quarter of the year. Net revenue was $4.5 billion in the second quarter of 2010, up 49 percent from $3.0 billion in the first quarter of 2010, due primarily to an increase in net interest income. Credit-related expenses, which are the total provision for credit losses plus foreclosed property expense, were $4.9 billion, down from $11.9 billion in the first quarter of 2010. The company expects its financial results will continue to be negatively affected by losses primarily on a subset of loans it acquired between 2005 and 2008. The company expects that its credit-related expenses will remain high in 2010. However, the company expects that, if current trends continue, its credit-related expenses will be lower in 2010 than in 2009. Net fair value gains were $303 million in the second quarter, compared to losses of $1.7 billion in the first quarter of 2010, due primarily to lower fair value losses on the company's derivatives, which were partially offset by lower fair value gains on its trading securities. During the quarter, loans from Fannie Mae's 2009- 2010 book of business continued to perform solidly while credit-related expenses on the overall book of business decreased by more than $7 billion. Beginning in 2008, Fannie Mae raised its underwriting standards and sharply reduced its acquisitions of higher-risk loans to support sustainable homeownership. The impact of these changes is shown in the 2009 and 2010 vintages of Fannie Mae's single-family loans, which have the lowest early serious delinquency rates of any loans the company has acquired in the last 10 years. The company currently anticipates that these loans will be profitable... Credit Losses: Almost all of the company's realized credit losses in 2009 and 2010 on single-family loans are attributable to single-family loans that it purchased or guaranteed from 2005 through 2008. While these loans will give rise to additional credit losses that it has not yet realized, the company estimates that it has reserved for the substantial majority of these losses... Housing Forecast: The company expects home prices to decline slightly for the balance of 2010 and into 2011 before stabilizing, and that home sales will be basically flat for all of 2010. Residential mortgage debt outstanding is expected to decline for the third year in a row... Providing Liquidity: During the first half of 2010, the company purchased or guaranteed an estimated $423 billion in loans, which includes approximately $170 billion in delinquent loans the company purchased from its single-family mortgage-backed securities trusts. Fannie Mae remained the largest single issuer of mortgage-related securities in the secondary market during the second quarter, with an estimated market share of new single-family mortgage-related securities of 39.1 percent, compared with 40.7 percent in the first quarter of 2010.
Sina beats by $0.07, beats on revs; guides Q3 revs above consensus (SINA)
8/4/2010
SINA Sina beats by $0.07, beats on revs; guides Q3 revs above consensusReports Q2 (Jun) earnings of $0.42 per share, excluding non-recurring items, $0.07 better than the Thomson Reuters consensus of $0.35. Co issues upside guidance for Q3, sees Q3 revs of $101-104 mln, excluding non-recurring items, vs. $100.80 mln Thomson Reuters consensus, with non-GAAP advertising revenues to be between $80.0 mln and $82.0 mln and non-GAAP non-advertising revenues to be between $21.0 mln and $22.0 mln.
SOLR GT Solar beats by $0.07 Co issues upside guidance
8/4/2010
SOLR GT Solar beats by $0.07, beats on revs; guides FY11 EPS above consensus, rReports Q1 (Jun) earnings of $0.11 per share, $0.07 better than the Thomson Reuters consensus of $0.04; revenues fell 30.6% year/year to $135.2 mln vs the $73.1 mln consensus. Co issues upside guidance for FY11, sees EPS of $0.90-1.00 vs. $0.64 Thomson Reuters consensus; sees FY11 revs of $700-775 mln vs. $597.53 mln Thomson Reuters consensus.
EGLE Eagle Bulk Shipping beats by $0.08, beats on revs
8/4/2010
EGLE Eagle Bulk Shipping beats by $0.08, beats on revsReports Q2 (Jun) earnings of $0.18 per share, $0.08 better than the Thomson Reuters consensus of $0.10; revenues rose 23.8% year/year to $65.6 mln vs the $59.7 mln consensus.
AWK American Water beats by $0.06, beats on revs; guides FY10 EPS above consensus
MOH Molina Healthcare beats by $0.10
8/4/2010
ALL Allstate beats by $0.12 Earnings Report
8/4/2010
ALL Allstate beats by $0.12Reports Q2 (Jun) earnings of $0.81 per share, $0.12 better than the Thomson Reuters consensus of $0.69; revenues fell 9.8% year/year to $7.66 bln which may not be comparable to the $6.61 bln consensus. Book value per share grew to $33.24 at June 30, 2010 compared to $32.26 at March 31, 2010 and $27.87 at June 30, 2009. Combined ratio is 88.1 compared to 87.2 in prior year.
Jack in the Box Inc. JACK Reports Third Quarter FY 2010 Earnings
8/4/2010
Online Trading Video Earnings Analysis & Professional Commentary on Onyx Pharm
8/4/2010
ONXX Onyx Pharma beats by $0.02, beats on revs (26.65 -0.16)Reports Q2 (Jun) earnings of $0.05 per share, $0.02 better than the Thomson Reuters consensus of $0.03; revenues rose 14.3% year/year to $68.8 mln vs the $67.7 mln consensus. For the second quarter 2010, Onyx reported revenue from its Nexavar collaboration agreement of $68.8 million compared to $60.2 million for the same period in 2009. The increase in revenue from collaboration agreement between periods resulted from higher global net sales of Nexavar.
Dendreon DNDN Earnings Provenge Sales $2.8 Million; Dendreon (DNDN) Earnings, Projects Global Growth
8/4/2010
DNDN Dendreon: Provenge launch is on track; demand buildingRodman & Renshaw notes that DNDN reported a net loss of $(1.04)/share, higher than their net loss estimate of $(0.49)/share. Firm says that to date, approx 500 patients have received Provenge prescriptions. They anticipate that the 2 patient/site volume restriction to be lifted in early 2011, in lockstep with the expansion of the NJ facility to 48 workstations, paving the way for a significant rev inflection in 2011... Of the 15 Medicare administrative contractors nationwide, 9 have published Provenge coverage guidelines and 5 have provided indications of coverage. Firm says regarding the National Coverage Determination initiated in June 2010 by CMS, management indicated that CM
Priceline.com Stock Moves Higher $40 in After Hours Trading
8/3/2010
PCLN Priceline.com on Conference Call;Hotel business had good growth in the quarter; starting to see enough of an improvement in the broad market for airline tickets and car rentals; capacity reduction is waning; improvement in economy will mitigate capacity issues... says Agoda has continued to grow rapidly; says remains to be seen if high season travel in Thailand will return; pretty impressed with the growth in Asian business in general given weak demand in Thailand; notes still had triple digit growth even during the civil unrest in Thailand... says looking at GOOG commentary it believes that PCLN will be work more as a customer; believes it can be a win for GOOG and the online travel agency; notes GOOG has denied that it is looking to sell tickets; says GOOG 'over time it can be a competitive threat but that is not how they are characterizing it at this time'.
Priceline.com Earnings (PCLN) Reports Financial Results for 2nd Quarter 2010 (VIDEO)
8/3/2010
MasterCard Earnings MA MasterCard beats by $0.16 misses on Revenues
8/3/2010
MA MasterCard beats by $0.16, misses on revs (202.52 )Reports Q2 (Jun) earnings of $3.49 per share, $0.16 better than the Thomson Reuters consensus of $3.33; revenues rose 6.6% year/year to $1.37 bln vs the $1.38 bln consensus. Co reports an increase in cross-border volumes of 15.2%; 8.5% growth in MasterCard's gross dollar volume. Worldwide purchase volume during the quarter was up 7.9% on a local currency basis, to $493 billion. The number of processed transactions increased 0.1%. Operating margin was 52.6% for the second quarter of 2010, up 9.1 percentage points over the year-ago period.
PFE Pfizer beats by $0.10, beats on revs; guides FY10 EPS in-line
8/3/2010
PFE Pfizer beats by $0.10, beats on revs; guides FY10 EPS in-lineReports Q2 (Jun) earnings of $0.62 per share, excluding non-recurring items, $0.10 better than the Thomson Reuters consensus of $0.52; revenues rose 57.7% year/year to $17.33 bln vs the $16.65 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.10-2.20, excluding non-recurring items, vs. $2.16 Thomson Reuters consensus; sees FY10 revs of $67-69 mln vs. $67.3 bln Thomson Reuters consensus. PFE is reaffirming all elements of its 2012 financial targets. For 2012, at current exchange rates(15), Pfizer is targeting reported revenues between $65.2 and $67.7 billion, reported diluted EPS between $1.58 and $1.73, adjusted diluted EPS between $2.25 and $2.35, adjusted R&D expenses between $8.0 and $8.5 billion, adjusted operating margin in a range of the high 30%s to low 40%s and adjusted other (income)/deductions between $1.0 and $1.2 billion in deductions. The effective tax rate on adjusted income is targeted at approximately 30%, while operating cash flow is expected to be at least $19.0 billion. Additionally, the Company remains on-track to achieve the cost-reduction target of approximately $4 to $5 billion, by the end of 2012, at 2008 average foreign exchange rates, in comparison with the 2008 pro-forma adjusted total costs of Pfizer and the legacy Wyeth operations.
First Solar After Hours Earnings Short Big Drop After the Close Pt 1
7/29/2010
First Solar After Hours Earnings Short Big Drop After the Close Pt 2
7/29/2010
FSLR First Solar beats by $0.23, beats on revs;Reports Q2 (Jun) earnings of $1.84 per share, $0.23 better than the Thomson Reuters consensus of $1.61. Co issues in-line guidance for FY10 (Dec), sees EPS of 7.00-7.40 vs. $7.12 Thomson Reuters consensus; sees FY10 (Dec) revs of 2.5-2.6 vs. $2.62 bln Thomson Reuters consensus. Lowers CapEx outlook to $575-625 mln, expects FY10 operating cash flow of $575-625 mln.
BRCM Broadcom Clarification: Beats GAAP consensus by $0.06
• The Benchmark Co notes, last night, BRCM reported Q2 FY10 results ahead of expectations with revenue exceeding consensus by 1% and non-GAAP EPS of $0.73 exceeding consensus of $0.64. Firm is raising its 2HFY10 and FY11 revenue and EPS ests again, driven by better-than-expected sales trends within the Mobile & Wireless and Broadband Communications divisions. Despite the positive momentum and growth premium relative to the industry, the shares continue to trade well below appropriate valuation multiples.
• FBR Capital Mkts notes BRCM reported powerful 2Q results that demonstrate its ramping product cycles and ability to outgrow most competitors. Further, BRCM seems to be pulling away from competitors in product development velocity and integration, particularly in "combo" chips. While Broadcom's inventories grew 21% sequentially, a likely bear complaint, firm believes inventory is needed to support higher sales, with the supply chain still focused on garnering sufficient supply. Broadcom is benefiting from product cycle drivers including cellular baseband shipments (likely more than $500 mln in revenues this year with only Samsung 2G/3G and Nokia 2G), Bluetooth/Wi-Fi "combo" chips (going into the iPad, iPhone, iPod Touch, and four of the top five handset vendors!), and high-definition video and set top box chips, among others.
BRCM Broadcom Clarification: Beats GAAP consensus by $0.06
Q2 GAAP EPS of $0.52 compares to the $0.46 GAAP consensus, earlier we said the GAAP EPS of $0.52 may not compare to the $0.62 pro forma consensus.
AMZN Amazon.com misses by $.09, reports revs in-line; guides Q3 revs in-line
Reports Q2 (Jun) earnings of $0.45 per share, $0.09 worse than the Thomson Reuters consensus of $0.54; revenues rose 41.3% year/year to $6.57 bln vs the $6.54 bln consensus. Operating income increased 71% to $270 million in the second quarter, compared with $159 million in second quarter 2009. The unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $10 million. Second quarter 2009 operating income was negatively impacted by a $51 million legal settlement... Co issues in-line guidance for Q3 (Sep), sees Q3 (Sep) revs of $6.9-7.625 bln vs. $7.15 bln Thomson Reuters consensus. Operating income is expected to be between $210 million and $310 million, or between 16% decline and 24% growth compared with third quarter 2009.
AXP American Express beats by $0.06, reports revs in-line (43.19 )
Reports Q2 (Jun) earnings of $0.84 per share, $0.06 better than the Thomson Reuters consensus of $0.78; revenues rose 12.6% year/year to $6.86 bln vs the $6.84 bln consensus. Consolidated provisions for losses totaled $652 million compared to $1.6 billion in the year-ago period, reflecting continued improvement in credit quality for the charge and credit card portfolios. US Card Provisions for losses totaled $519 million, down 56 percent from $1.2 billion a year ago. The decline reflected continued improvement in credit quality for the charge and credit card portfolios.
MOS Mosaic beats by $0.02, misses on revs
Reports Q4 (May) earnings of $0.89 per share, $0.02 better than the Thomson Reuters consensus of $0.87; revenues rose 16.7% year/year to $1.86 bln vs the $2.14 bln consensus. The average fourth quarter DAP selling price, FOB plant, was $438 per tonne, compared to $365 a year ago and $336 in Q3 of FY10. Phosphates segment total sales volumes were 2.3 mln tonnes, compared to 2.5 mln tonnes a year ago. The average fourth quarter MOP selling price, FOB plant, was $336 per tonne compared to $540 a year ago and was down modestly from $356 in the third quarter of fiscal 2010. The Potash segment's total sales volume for the fourth quarter of fiscal 2010 nearly tripled from a year ago to 1.8 mln tonnes as a result of rebounding demand in all key markets. Co provided guidance: Total sales volumes for the Phosphates segment are expected to range from 2.8-3.2 mln tonnes for Q1 of FY11. Mosaic's realized DAP price, FOB plant, for Q1 of FY11 is estimated to be $410-440 per tonne. Total sales volumes for the Potash segment are expected to range from 1.2-1.5 mln tonnes for Q1 of FY11. Significantly higher sales volumes are expected in the Co's Q2. Mosaic's realized MOP price, FOB plant, for Q1 of FY11 is estimated to be in the range of $300-330 per tonne.
MSFT Microsoft beats by $0.05, beats on revs
Reports Q4 (Jun) earnings of $0.51 per share, $0.05 better than the Thomson Reuters consensus of $0.46; revenues rose 22.5% year/year to $16.04 bln vs the $15.27 bln consensus. Co reported Q4 Gross Margins of 80.23% vs 80.55% Consensus, Co says "We saw strong sales execution across all of our businesses, particularly in the enterprise with Windows 7 and Office 2010." The co updated their operating expense guidance of $26.9 billion to $27.3 billion for the full year ending June 30, 2011 vs the previous guidance of $26.1-26.3 bln.
SNDK SanDisk beats by $0.18, beats on revs; announces retirement of CEO
7/22/2010
Reports Q2 (Jun) earnings of $1.08 per share, $0.18 better than the Thomson Reuters consensus of $0.90; revenues rose 61.5% year/year to $1.18 bln vs the $1.16 bln consensus. Sandisk reports Q2 gross margin of 47% vs. the 43.6% Thomson Reuters consensus. Average price per gigabyte sold declined 18% on a year-over-year basis and declined 8% sequentially. Separately today, SanDisk announced that Dr. Eli Harari, Founder, Chairman and Chief Executive Officer, will retire from his current positions on December 31, 2010. As part of the succession planning process, the Board of Directors appointed Sanjay Mehrotra, currently SanDisk's President and Chief Operating Officer, as the new Chief Executive Officer of the company, effective January 1, 2011. Mr. Mehrotra was appointed to the Company's Board of Directors effective July 21, 2010. The Board also appointed Michael Marks, a member of the SanDisk Board since 2003, to the role of Chairman effective January 1, 2011.
CMG Chipotle Mexican Grill beats by $0.07, beats on revs; raises comp sales growth guidance
Reports Q2 (Jun) earnings of $1.46 per share, $0.07 better than the Thomson Reuters consensus of $1.39; revenues rose 20.1% year/year to $466.8 mln vs the $452.8 mln consensus. Comparable restaurant sales increased 8.7%. Restaurant level operating margin was 26.9%, an increase of 90 basis points. CMG sees mid to high single digit comparable restaurant sales growth; up from guidance for mid single digit increase.
ISRG Intuitive Surgical beats by $0.15, beats on revs (316.50 -9.59)
During the call, the co said that it expects dVP growth to be largely driven by international markets going forward. Mgmt noted that it sold slightly more systems in Europe this quarter than last but it continues to see fiscal pressures in Europe. ISRG expects systems and sales growth in Japan to be slow. ISRG noted that procedures grew 36% y/y. For systems sold in Q2, mgmt noted that 89 of the systems were da Vinci Si and 86 of the systems were in the US; co placed one new system in Japan. Mgmt said that there ASP was $1.48 mln vs. $1.45 mln a quarter ago due to more da Vinci systems in the mix. Co noted that currency had little impact on Q2 European revs but noted that it has currency rates locked in for rest of 2010 and the rates are lower by 15%. Mgmt will continue to increase inventory levels in future quarters. For 2010 guidance, mgmt expects total procedure growth of ~35% for the year but it expects gross margins to fall in 2H10 vs 1H. Co said that it expects new gross margin for the full year to be between 72-73% vs 72% previously. Mgmt raised its forecast for 2010 revs, sees rev growth of 30-33% compared to 27-30% previously; rev guidance equates to $1.37-1.39 bln vs. $1.39 bln Thomson Reuters consensus. Co expects operating expense growth of 29-31% vs. 27-29% previously. Co said that it expects income taxes of ~37.4% for the rest of 2010.
TXN Texas Instruments reports EPS, revs in-line with consensus/guidance; guides Q3 EPS above consensus
Reports Q2 (Jun) earnings of $0.62 per share, in-line with the Thomson Reuters consensus of $0.62 and guidance of $0.60-0.64; revenues rose 42.3% year/year to $3.5 bln vs the $3.52 bln consensus and guidance of $3.45-3.59 bln. Co issues guidance for Q3, sees EPS of $0.64-0.74 vs. $0.64 Thomson Reuters consensus; sees Q3 revs of $3.55-3.85 bln vs. $3.59 bln Thomson Reuters consensus. Q2 Gross Margin of 54.17% vs 53.5% consensus; capital expenditures: $1.2 billion, up from the prior expectation of $0.9 billion "Our Analog and Embedded Processing businesses turned in double-digit sequential growth, outpacing their respective markets and again confirming their ability to positively impact the financial performance of TI... Orders were strong in the quarter, backlog increased and we expect to grow revenue again in the third quarter."
VMW VMware beats by $0.02, beats on revs; guides Q3 revs above consensus; guides
Reports Q2 (Jun) earnings of $0.34 per share, $0.02 better than the Thomson Reuters consensus of $0.32; revenues rose 47.9% year/year to $674 mln vs the $656.4 mln consensus. Gross Margins for Q2 were 27.7% comapred to Thomson Retuers consensus of 26.6% and guidance 25-27%. Co issues upside guidance for Q3, sees Q3 revs of $680-705 mln vs. $671.92 mln Thomson Reuters consensus. Co issues upside guidance for FY10, sees FY10 revs of $2725-2.800 bln vs. $2.71 bln Thomson Reuters consensus.
BIDU Baidu.com beats by $0.04, beats on revs; guides Q3 revs above consensus
Reports Q2 (Jun) earnings of $0.35 per share, $0.04 better than the Thomson Reuters consensus of $0.31; revenues rose 74.4% year/year to $282.3 mln vs the $276.7 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $324.4-333.3 mln vs. $321.55 mln Thomson Reuters consensus. "Baidu's record top and bottom line results reflect the healthy growth of our customer base and continued improvements in monetization efficiency."
FFIV F5 Networks beats by $0.07, beats on revs; guides Q4 EPS above consensus, revs above consensus
Reports Q3 (Jun) earnings of $0.66 per share, $0.07 better than the Thomson Reuters consensus of $0.59; revenues rose 45.7% year/year to $230.5 mln vs the $218.4 mln consensus. F5 Networks reports Q3 gross margin 80.7% vs. 80.4% consensus. Co issues upside guidance for Q4, sees EPS of $0.69-0.71 vs. $0.62 Thomson Reuters consensus; sees Q4 revs of $242-247 mln vs. $230.22 mln Thomson Reuters consensus.
SBUX Starbucks reports EPS in-line, beats on revs; guides FY10 EPS in-line; guides FY11 EPS in-line
Reports Q3 (Jun) earnings of $0.29 per share, in-line with the Thomson Reuters consensus of $0.29; revenues rose 8.7% year/year to $2.61 bln vs the $2.55 bln consensus. Reports Q3 non-GAAP operating margin 16.5% vs. 12.7% consensus. Co issues in-line guidance for FY10 (Sep), sees EPS of 1.22-1.23 vs. $1.23 Thomson Reuters consensus. Due to strong year-to-date performance, the company is now targeting full-year non-GAAP operating margin (excluding restructuring charges) at the high end of the previously-stated ranges of 15% to 17% for the U.S. segment, and 8% to 10% for the International segment. Co issues in-line guidance for FY11 (Sep), sees EPS of 1.36-1.41 vs. $1.41 Thomson Reuters consensus. The company is targeting mid- to high-single-digit FY11 revenue growth (consensus is for +4%), driven by low- to mid-single-digit comparable store sales growth. The quarterly dividend of $0.13 per share, an increase of 30% from $0.10 per share, will be paid on August 20, 2010, to shareholders of record at the close of business on August 4, 2010.
Ebay Earnings Nice Report Pop In After Hours Trading
eBay beats by $0.02, beats on revs; guides Q3 EPS below consensus, revs below consensus; guides FY10 EPS in-line, revs in-line Reports Q2 (Jun) earnings of $0.40 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.38; revenues rose 5.6% year/year to $2.21 bln vs the $2.16 bln consensus. Co issues downside guidance for Q3, sees EPS of $0.35-0.37 vs. $0.39 Thomson Reuters consensus; sees Q3 revs of $2.13-2.18 bln vs. $2.21 bln Thomson Reuters consensus. Co issues in-line guidance for FY10, sees EPS of $1.60-1.65 vs. $1.64 Thomson Reuters consensus; sees FY10 revs of $8.8-9.0 bln vs. $8.99 bln Thomson Reuters consensus. Co lowered FY10 guidance due to an expected FX impact. NCOs declined to 8.56% from 9.49% in prior year. Active Users rose 4% q/q. GMV fell to $12.5 bln compared to $13.3 bln in the prior quarter.
NFLX Netflix beats by $0.09, reports slight miss on revs; guides Q3 EPS, revs in-line; guides
Reports Q2 (Jun) earnings of $0.80 per share, $0.09 better than the Thomson Reuters consensus of $0.71; revenues rose 27.2% year/year to $519.8 mln vs the $524.4 mln consensus. Netflix reports percentage of subscribers who watched content instantly was 61% in Q2, up from the 55% in Q1; reports percentage of subscribers who watched content instantly was 61% in Q2, up from the 55% in Q1. Co issues in-line guidance for Q3, sees EPS of $0.61-0.74 vs. $0.68 Thomson Reuters consensus; sees Q3 revs of $546-554 mln vs. $551.70 mln Thomson Reuters consensus. Co issues in-line guidance for Q4 (Dec), sees EPS of $0.58-0.73 vs. $0.69 Thomson Reuters consensus; sees Q4 (Dec) revs of $580-596 mln vs. $583.16 mln Thomson Reuters consensus. Co raises FY10 guidance for ending subscribers to 17.7-18.5 mln, up from 16.5-17.3 mln.
AAPL Apple beats by $0.40, beats on revs; guides Q4 EPS below consensus, revs above consensus
Reports Q3 (Jun) earnings of $3.51 per share, $0.40 better than the Thomson Reuters consensus of $3.11; revenues rose 61.3% year/year to $15.7 bln vs the $14.75 bln consensus. Apple reports Q3 gross margins of 39.1% vs Street est of 39.0%. Apple reports 3.47 mln Macs sold in Q3 vs Street est of ~3.2 mln. Apple reports 8.4 mln iPhones sold in Q3 vs Street est of ~8.5 mln. Co issues mixed guidance for Q4, sees EPS of ~$3.44 vs. $3.82 Thomson Reuters consensus; sees Q4 revs of ~$18.00 bln vs. $17.03 bln Thomson Reuters consensus (Briefing.com note: Co typically issues conservative guidance). "It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple's history with iPhone 4... iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year."
IBM Earnings: IBM Drops 3% in After Hours, Misses on Revs
SMF SHORT THE STOCK AND PUT OPTIONS AT THE 125 STRIKE PRICE
Reports Q2 (Jun) earnings of $2.61 per share, $0.03 better than the Thomson Reuters consensus of $2.58; revenues rose 2.0% year/year to $23.72 bln vs the $24.17 bln consensus. Reports Q2 gross profit margin of 45.6% vs Thomson Reuters consensus of 45.8%. IBM sees FY10 EPS of "at least $11.25," up from prior guidance of "at least $11.20", and vs. the $11.27 consensus. IBM signed services contracts totaling $12.3 bln, decrease of 12%. "In the second quarter we again delivered double-digit earnings-per-share growth, increased margins, as well as improving constant-currency revenue performance in our ongoing software, services and hardware businesses, and in all geographies."
Google misses by $0.07, beats on revs Reports Q2 (Jun) earnings of $6.45 per share, $0.07 worse than the Thomson Reuters consensus of $6.52
Google misses by $0.07, beats on revs Reports Q2 (Jun) earnings of $6.45 per share, $0.07 worse than the Thomson Reuters consensus of $6.52; revenues ex-TAC rose 25.0% year/year to $5.09 bln vs the $4.99 bln consensus. GOOG Average cost per click -3% q/q, Q1: +4%; Average Paid Clicks +2% q/q, Q1: +5%. Non-GAAP operating income in the second quarter of 2010 was $2.67 billion, or 39% of revenues. This compares to non-GAAP operating income of $2.17 billion, or 39% of revenues, in the second quarter of 2009.
After Hours Earnings Google Big Drop in Equity Price Options Trading Strategy
• FBR Capital Mkts notes last night co reported mixed 1Q10 results, with PF EPS just below and net rev just above consensus. Rev growth in the qtr accelerated to 25% YOY from 24% in 1Q, though costs rose even faster sequentially, with head count growing 6% QOQ (10% YOY), driving EBITDA margins from 61.4% down to 59.3%. FCF in the qtr increased 9% YOY to $1.6 bln or $5/share, as capex nearly quadrupled YOY and doubled QOQ. On the first call without CEO Schmidt, mgmt again reiterated further plans to ramp investment in people and technology, corroborated by a substantive YOY increase in capex.
• Kaufman Bros. believes the weak after-hours reaction (-4%) can be attributed to concerns over increased expenses. Key positives include: 1) paid click growth strong at 15% Y/Y; 2) CPCs increased 2% Q/Q after declining 4% in 1Q; 3) domestic revenue growth accelerated four points over 1Q to 26% Y/Y. Key negatives include: 1) Aggressive hiring with approx 1,200 net employee adds vs. approx 800 in 1Q, leading to cash R&D and S&M expenses being 4% higher than expected; 2) capex jumped to 9% of revs vs. 4% on average for the last four quarters; 3) continued uncertainty around China.
• Oppenheimer notes Google stock traded down 4% after the co reported another margin miss qtr. While 2Q non-GAAP EPS were in line with its est and 1% below the Street, this was driven by higher interest income and a lower tax rate. As EBITDA margins were 237 bps lower than its est and 93 bps below the Street, on 12% higher opex, Opco is further reducing 2H non-GAAP EPS by 2% and expect a 4% reduction to Street ests. Revenues remain strong, with US accelerating, while FX was not a drag y/y. Furthermore, metrics suggest non-search revs are increasing, but this is not translating to higher earnings.
• Merriman notes strong revenue growth in the U.S. and ROW more than offset weakness in the UK to result in a 25% Y/Y net revenue growth, the highest since 4Q08, and ahead of consensus. Google held its search market share, made progress in monetization and is gaining traction in the display, mobile and enterprise segments. On the downside, operating expenses are higher-than-expected, driven by an increase in hiring, which lead to an EPS shortfall.