Seeking Alpha
  • Today - Thursday, April 24, 2014

  • 9:31 AM
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  • 9:30 AM
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  • 9:28 AM
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  • 9:27 AM
    • Waste Management's (WM) net profit rose to $228M from $168M
    • Increases guidance for free net cash flow, saying it expects $1.4-1.5B vs prior guidance of above $1.3B.
    • However, Waste Management says that regarding other elements of its guidance, "it's difficult to predict underlying business trends in the first quarter due to winter seasonality." Still, "early April volumes indicate a normal seasonal upturn." Waste Management expects to "refine" its guidance after Q2.
    • Shares are -1.6%. (PR)
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  • 9:25 AM
     
    • Stock futures point to a higher open, with Nasdaq soaring in the wake of strong earnings results from tech titans Apple and Facebook; S&P +0.4%, Dow +0.1%, Nasdaq +1.6%.
    • Markets are firm across Europe, while Asian markets ended mixed; Japan's Nikkei -1% after a trade deal with the U.S. was not completed.
    • Apple +8.6% premarket after earnings and revenue beat estimates on stronger than expected iPhone shipments, it increased its share buyback program to $90B and announced a 7:1 share split; a $43 gain during regular trade would add 4.3 points to the S&P 500.
    • Nasdaq also enjoyed better than expected results from Facebook, Citrix Systems and F5 Networks, among others.
    • Also beating forecasts were economic bellwether Caterpillar (+2.8%), GM (+3.4%) and Aetna (+5.6%).
    • Among today's data, a jump in durable goods orders outweighed a bigger than expected rise in weekly jobless claims.
    • Treasurys trimmed earlier losses amid heightening tensions between Russia and Ukraine; the 10-year yield has narrowed its increase to one basis point to ~2.71%.
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  • 9:24 AM
    • Miller Tabak lifts its rating on Brinker International (EAT) to a Buy rating from Hold on a valuation call.
    • The restaurant operator only showed a meager 0.7% rise in comp sales during Q1, but lowered its cost of sales.
    • Pricing hikes offset a slip in traffic at both Maggiano's and Chili's.
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  • 9:24 AM
    • Revenues were $181.9M (-2.7%), EPS: $0.31 (-19.4%).
    • International sales: $94.6M.
    • EBITDA yield was 15.4%.
    • CF Ops: $17M (+214.8%).
    • Q2 guidance:
    • Revenues: $190M - $195M.
    • EPS: $0.44 - $0.48.
    • 2014 guidance:
    • Revenues: $770M - $780M.
    • EPS: $1.90 - $2.00.
    • Guidance excludes special items related to the relocation of manufacturing, litigation and other costs.
    • (CNMD)
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  • 9:22 AM
    • NXP (NXPI) expects Q2 revenue of $1.30B-$1.35B and EPS of $1.00-$1.10, largely favorable to a consensus of $1.30B and $1.02. Shares +2.5% premarket. (Q1 results, PR)
    • Yandex (YNDX) expects 25%-30% 2014 ruble-based revenue growth vs. a consensus for 29% growth. Shares -0.9% premarket. (Q1 results, PR)
    • Sonus (SONS) expects Q2 revenue of $73M-$75M ($33M-$35M from SBCs and diameter signaling) and EPS of $0.01 vs. a consensus of $74M and $0.01. Full-year guidance is for revenue of $300M ($168M from SBCs and diameter signaling) and EPS of $0.05 vs. a consensus of $301.8M and $0.05. Shares +2.9% premarket. (Q1 results, PR)
    • Logitech (LOGI) is reiterating FY15 (ends March '15) guidance for revenue of $2.16B and op. income of $145M. The revenue forecast is below a $2.17B consensus. Shares -2.9% premarket. (FQ4 results, PR)
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  • 9:22 AM
    • Utah Medical Products (UTMD): Q1 EPS of $0.72 misses by $0.07.
    • Revenue of $9.82M.
    • Press Release
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  • 9:21 AM
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  • 9:18 AM
    • Dover Motorsports (DVD): Q1 EPS of -$0.06 in-line.
    • Revenue of $0.18M (+50.0% Y/Y)
    • Press Release
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  • 9:18 AM
    • Meredith (MDP): Q1 EPS of $0.70 beats by $0.03.
    • Revenue of $367M (-0.7% Y/Y) misses by $3.33M.
    • Press Release
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  • 9:17 AM
    • Central Pacific Financial Corp. (CPF): Q1 EPS of $0.23 beats by $0.05.
    • Press Release
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  • 9:17 AM
    • TF Financial (THRD): Q1 EPS of $0.45
    • Revenue of $6.64M (+12.9% Y/Y) beats by $0.19M.
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  • 9:16 AM
    • Freeport McMoRan (FCX) +2% premarket after Q1 earnings fell 21% Y/Y, hurt by lower copper prices and higher costs, but results topped analyst expectations.
    • FCX previously had raised its copper production despite weaker demand and lower prices, but output fell 3.3% during Q1 to 948M lbs., with average realized price/lb. falling to $3.14 from $3.51 a year earlier, partly due to the conflict with Indonesia's government that has halted its copper concentrate exports from the country.
    • Total gold production also declined, falling 1.7% to 231K oz., with average realized price/oz. falling to $1,300 from $1,606.
    • Gross margin narrowed to 25.7% from 33.5% as input costs rose 21% to $3.7B; capital spending totaled $1.61B, double the year-ago period, and FCX continues to expect $7B in capital spending for the year, up from $5.3B last year.
    • FCX's oil and gas unit sold 16.1M boe, beating its forecast of 15.3M, primarily reflecting higher Eagle Ford production volumes.
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  • 9:15 AM
    • Investment advisory revenue of $826.4M gained $123.5M from a year ago, with average AUM up 17% to $100.2B to $711.4B. Market appreciation and income helped, but there were also net cash inflows of $8.8B.
    • 78% of mutual funds outperformed comparable Lipper averages on a total return basis for the 3-year period ending on March 31. 85% outperformed over a 10-year period, 71% over one year.
    • Operating expenses of $505.5M gained $62.4M from a year ago, with compensation and related costs up $39.8M. Headcount of 5,692 up about 5%.
    • Previously: T. Rowe Price beats by $0.01, beats on revenue
    • Source: Press Release
    • TROW no trades premarket
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  • 9:15 AM
    • American Airlines Group (AAL) turns a sizable profit in its first full quarter as merged company.
    • Passenger revenue per available seat mile improved 2.9% Y/Y in Q1 to $0.1367.
    • Total operating expenses fell 0.3% to $9.3B.
    • AAL +1.4% premarket
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  • 9:14 AM
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  • 9:13 AM
    • Patrick Ind (PATK): Q1 EPS of $0.64 beats by $0.05.
    • Revenue of $170.1M (+19.7% Y/Y) beats by $11.8M.
    • Press Release
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  • 9:13 AM
    • Nucor (NUE): Q1 EPS of $0.35 misses by $0.01.
    • Revenue of $5.11B (+12.3% Y/Y) beats by $270M.
    • Press Release
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