F2Q10 (Qtr End 09/30/09) Earnings Call Transcript

October 27, 2009 5:00 pm ET

F1Q10 (Qtr End 06/30/09) Earnings Call Transcript

July 28, 2009 5:00 pm ET

F4Q09 Earnings Call

May 5, 2009 5:00 pm ET

F3Q09 (Qtr End 12/31/08) Earnings Call

January 27, 2009 5:00 pm ET

After layoff activity in the tech industry quieted down around the holidays, it’s come back with a vengeance in January. According to our Layoff Tracker, 80,076 job eliminations have been announced or completed since the beginning of the year. The total number of tech layoffs since we began tracking in late August is now 195,856.

This past week alone, substantial layoffs were announced by Ericsson (ERIC) (5,000), Intel (6,000), and Microsoft (MSFT) (5,000). The biggest job loss by far is the 34,000 employees of Circuit City, which announced it is going out of business last week.

Plantronics, Inc. (PLT)

F2Q09 Earnings Call

• Writedowns, trading losses for Credit Suisse. Credit Suisse (CS) reported a Q3 net loss of 1.26B Swiss francs ($1.08B), its second consecutive quarterly loss, as compared to a profit of 1.3B francs a year ago. The loss stemmed from writedowns on leveraged loans and mortgage-backed securities as well as roughly 1.7B francs of trading losses. CEO Brady Dougan, calling the markets 'very challenging,' warned he's 'cautious' on the outlook for Q4. Shares -3.1% in Swiss trading, bringing the stock to a 34% decline this year.
• Darker forecast for Sony. Sony (SNE) cut its fiscal year profit outlook in half, saying a strong yen and the global slowdown would hurt earnings. The Tokyo-based company, with over 75% of its revenue generated overseas, is particularly vulnerable to foreign exchange moves and a strengthened yen has hurt its exports. The company now expects fiscal year operating profit of ¥200B ($2.05B), 57% less than its July forecast of ¥470B, with full-year net profit of ¥150B, a 38% reduction. The diminished outlook comes just as Sony was beginning to show improvement in its videogame and TV businesses, and had completed a three-year restructuring plan.
• Good news from Nestle. Nestle (NSRGY.PK) posted a better-than-expected rise in nine-month sales to 81.4B Swiss francs ($69.75B) vs. a forecast of 81.07B francs. Adjusting for currency effects and acquisitions, underlying sales rose a strong 8.9% vs. an 8.2% forecast. Nestle, the world's largest food group, raised its organic growth forecast for 2008 to 'about 8%' from an earlier target of at least 7.4%. Nestle's geographic and product diversification have helped it weather the global downturn thus far. Shares +7.1% in Zurich trading.
• Goldman swallows pride, cuts back on staff. Goldman Sachs (GS) will lay off about 10% of its 32,500 workforce, sources say. Goldman, which recently converted to a bank-holding company, has become less willing to risk its capital base, both for itself and its clients, which could result in lower profits - but perhaps a more stable business model - going forward. In September CFO David Viniar said he expected GS's record high headcount to remain stable-to-higher through year end, but that was then. Things look bleak for Wall Street workers.
• OPEC wants non-members to cut too. OPEC is considering cutting back oil production in several stages, President Chakib Khelil said Thursday. OPEC ministers meet in Vienna Friday for an emergency meeting to consider dropping oil output in an effort to arrest a 50%+ drop in crude prices since July. Khelil also said OPEC is asking non cartel members Russia, Mexico and Norway to join it in trimming output. The global financial crisis is already forcing many companies to drop oil projects, he said, adding $90/barrel oil wouldn't curb economic growth. Crude fell more than 7% Wednesday after a larger-than-expected inventory build. It's up 2% to $68.10 in overnight trading.
• Foreclosures slow. Foreclosure filings rose 71% in Q3 from a year ago, but only 3% from Q2 as actions to buffer lending markets appear to be slowing the bleeding. RealtyTrac says foreclosure filings dropped 12% in September from August, due mostly to state-law changes "that have at least temporarily slowed down the pace at which lenders are moving forward with foreclosures." Last month, foreclosure filings were recorded on one out of every 475 housing units. Nevada, Florida and California remain the worst markets in the country; Vermont is the best-performing state. (see also next item)
• Homeowner aid on the front burner. The U.S. government is considering a $40B proposal to help stop foreclosures, one of the problems at the heart of the financial crisis. Meanwhile the Treasury Department has its own plan to employ part of the $700B financial rescue bursary to buy and renegotiate mortgages. At a Senate Banking Committee hearing today, FDIC chief Sheila Bair is expected to suggest the government give banks a financial incentive to turn non-performing loans into more-affordable mortgages, with the government sharing in any future losses, sources say.
• Amazon outlook gloomy. Shares of internet retail giant Amazon.com (AMZN) plunged 13% AH after it predicted a gloomy holiday season, despite beating Q3 consensus estimates (see below) with a 48% rise in earnings. Worries over a slowdown have already sent Amazon's shares down more than 40% this year, and its guidance did little to allay the fear, with the company saying it expects Q4 sales of $6-7 billion, vs. analyst expectations of $7.1B. "All companies have limited visibility right now and we're no different," CEO Jeff Bezos told analysts (transcript). CFO Tom Szkutak said the company saw slower rates of growth in the latter half of the quarter, and noted a strong dollar has hurt the company's businesses overseas.
• Lending rates edge lower. Three-month Libor edged down to 3.535%, the lowest since September 24, from 3.54125% Wednesday. The overnight lending rate climbed to 1.20625% from 1.11875% Wednesday, but is still well below the fed funds target rate of 1.50%.
• No credit, no demand. Mortgage applications fell 16.6% from a week ago, MBA said, to the lowest level in almost eight years. The average interest rate on 30-year fixed-rate mortgages decreased to 6.28% from 6.47%.
• Oil inventories bulge. Petroleum stocks were much higher than expected as consumers continue to hold back, despite significantly lower gas prices. Crude +3.18M barrels vs. +2.3M consensus. Distillates +2.16M vs. +0.1M consensus. Gasoline +2.71M vs. +2.1M consensus.

Earnings: Thursday Before Open

• 1-800 FLOWERS.COM (FLWS): FQ1 EPS of -$0.08 beats by $0.03. Revenue of $158M (+8.4%) vs. $150M. (PR)
• Altria (MO): Q3 EPS of $0.46 beats by $0.02. Revenue of $4.34B (+6.9%) vs. $4.21B. (PR)
• AU Optronics (AUO): Q3 EPS of $0.03 misses by $0.02. Revenue of $3.23B (-23.1%) in-line. Weak sales and soft pricing. Shares -8.1% in Germany. (PR)
• Avnet (AVT): FQ1 EPS of $0.67 misses by $0.03. Revenue $4.49B in-line. (PR)
• Black & Decker (BDK): Q3 EPS of $1.42 beats by $0.13. Revenue of $1.57B (-3.9%) in-line. Sees Q4 EPS of $0.70-0.90 vs. $1.13. "Considering the recent disruption of credit markets, our cash flow, balance sheet and liquidity are particularly important. We reduced inventory 12% versus the prior year..." Shares -6.2%. (PR)
• Bristol-Myers (BMY): Q3 EPS of $0.46 beats by $0.04. Revenue of $5.25B (+14.2%) in-line. Gross profit as a percentage of net sales rises 1% to 68.9%. Shares +3.8%. (PR)
• Bunge (BG): Q3 EPS of $1.70 vs. consensus of $2.81. Revenue of $14.8B vs. $14.46B. Sees full-year EPS of $11.60-11.90 vs. $11.49. (PR)
• Celgene (CELG): Q3 EPS of $0.40 beats by $0.01. Revenue of $592M (+69.3%) in-line. Shares -1.7%. (PR)
• Coca-Cola Enterprises (CCE): Q3 EPS of $0.46 in-line. Revenue of $5.74B in-line. Sees full-year EPS of $1.25-1.29 vs. $1.39. (PR)
• Diamond Offshore Drilling (DO): Q3 EPS of $2.23 in-line. Revenue of $900M (+39.8%) vs. $874M. (PR)
• Dow Chemical (DOW): Q3 EPS of $0.60 beats by $0.03. Revenue of $15.41B (+13.4%) vs. $15.63B. "In our view, we will likely see a global recession through most of 2009," DOW says. (PR)
• Elan (ELN): Q3 EPS of -$0.18 misses by $0.04. Revenue of $270M (+52.9%) vs. $275.5M. (PR)
• Eli Lilly (LLY): Q3 EPS of $1.04 beats by $0.02. Revenue of $5.21B (+14.1%) vs. $5.09B. (PR)
• EnCana (ECA): Q3 EPS of $1.92 beats by $0.14. Revenue of $10.77B (+92.4%) vs. $5.92B. (PR)
• Goodrich (GR): Q3 EPS of $1.33 beats by $0.20. Revenue of $1.77B (+10.7%) in-line. Shares -1.1%. "We assume a soft economic environment for 2009, and that global available seat miles will be approximately flat in 2009," it says. (PR)
• Janus Capital Group (JNS): Q3 EPS of $0.24 in-line. Revenue of $275M (-9.5%) vs. $280M. Shares +0.1%. (PR)
• JetBlue Airways (JBLU): Q3 EPS of -$0.02 beats by $0.02. Revenue of $902M in-line. Shares +5%. (PR)
• Level 3 Communications (LVLT): Q3 EPS of -$0.08 beats by $0.01. Revenue of $1.07B (+0.9%) in-line. Shares +8.9%. (PR)
• New York Times (NYT): Q3 EPS of -$0.01 misses by $0.05. Revenue of $687M (-8.9%) vs. $692M. "In this difficult environment, we are reviewing our uses of cash... our Board of Directors plans to review our dividend policy before the end of this year to determine what is most prudent in light of the overall market conditions." (PR)
• NII (NIHD): Q3 EPS of $0.54 misses by $0.13. Revenue of $1.12B (+34.9%) in-line. (PR)
• Petro-Canada (PCZ): Q3 EPS of C$2.56 misses by C$0.20. Production slipped to 424,000 barrels of oil equivalent a day from 436,000 barrels. (PR)
• Potash (POT): Q3 EPS of $3.93 beats by $0.36. Revenue of $3.06B (+136.6%) in-line. Cash flow from operating activities of $1.3B was almost four times last year's. Shares +4%. (PR)
• ProLogis (PLD): Q3 EPS of $0.63 beats by $0.08. Sees full-year FFO of $3.60-3.70 vs. $4.10. "We are assuming the current economic malaise persists throughout 2009, further impacting cap rates and leasing momentum in those markets where liquidity has been most impacted..." Shares -6.3%. (PR)
• RadioShack (RSH): Q3 EPS of $0.39 beats by $0.03. Revenue of $1.02B (+6.4%) vs. $0.99B. "After strong months in July and August, our sales and earnings trends slowed in September. We anticipate that this challenging retail environment will continue." (PR)
• Range Resources (RRC): Q3 EPS of $0.51 beats by $0.02. Revenue of $348M (+62.2%) vs. $325M. (PR)
• Raytheon (RTN): Q3 EPS of $1.01 beats by $0.05. Revenue of $5.9B (+13.5%) vs. $5.66B. Announces new $2B share repurchase plan. (PR)
• R.H. Donnelley (RHD): Q3 EPS of $0.38 beats by $0.44. Revenue of $648M (-3.5%) vs. $641M. Shares +20.7%. (PR)
• Southern Company (SO): Q3 EPS of $1.01 misses by $0.01. Revenue of $5.43B vs. $5.04B. (PR)
• Starwood Hotels (HOT): Q3 EPS of $0.71 beats by $0.18. Revenue of $1.53B (-0.3%) in-line. "While we can’t control the economic environment, we can right-size our organization to offset the effects of slowing travel demand," CEO Frits van Paasschen says. (PR)
• SunTrust Banks (STI): Q3 EPS of $0.49 misses by $0.11. Revenue of $2.46B (+20.7%) vs. $2.12B. (PR)
• TD Ameritrade (AMTD): FQ4 EPS of $0.29 misses by $0.01. Revenue of $649M (+4.1%) vs. $606M. Shares +5.8%. (PR)
• Thermo Fisher (TMO): Q3 EPS of $0.76 in-line. Revenue of $2.59B (+7.8%) in-line. (PR)
• Union Pacific (UNP): Q3 EPS of $1.38 beats by $0.08. Revenue of $4.85B (+15.6%) in-line. "Although today’s freight demand is soft, customers are continuing to realize the value of freight rail transportation," it says. (PR)
• UPS (UPS): Q3 EPS of $0.96 beats by $0.07. Revenue of $13.11B (+7.4%) in-line. "Based on economic forecasts, we anticipate a challenging environment for a number of quarters going forward... We believe the U.S. consumer will be very conservative with spending this year." Shares +1.85%. (PR)
• US Airways (LCC): Q3 EPS of -$2.35 beats by $0.19. Revenue of $3.26B (+7.4%) in-line. It sees its new "a la carte" pricing model contributing $400-500M to 2009 revenue. "Concerns have increased about the impact the global economic crisis may place on demand for air travel." Shares -1.1%. (PR)
• Xerox (XRX): Q3 EPS of $0.29 beats by $0.01. Revenue of $4.37B (+1.6%) vs. $4.47B. Says focus on small and mid-size businesses helped offset the economic challenges affecting U.S. large enterprises. (PR)
• Xcel Energy (XEL): Q3 EPS of $0.51 misses by $0.05. Revenue of $2.85B in-line. Shares -2.7%. (PR)
• Zimmer (ZMH): Q3 EPS of $0.97 beats by $0.08. Revenue of $952M vs. $964M. Shares +0.7%. (PR)

Earnings: Wednesday After Close

• Alliance Data Systems (ADS): Q3 EPS of $0.91 misses by $0.25. Revenue of $511M (+3.9%) vs. $524M. Shares +6%. (PR)
• Allstate (ALL): Q3 EPS of -$0.35 vs. $0.72 consensus. Revenue of $7.32B (-18.6%) vs. $6.32B. "We expect volatile financial markets and tough economic conditions to persist for some time." Shares +3.1%. (PR)
• Amazon.com (AMZN): Q3 EPS of $0.27 beats by $0.02. Revenue of $4.26B (+30.7%) in-line. Sees Q4 revenue of $6-7B vs. $7.05B. Kindle titles now account for more than 10% of unit sales for books that are available in both digital and print formats. Shares -14%. (PR)
• Amerigroup (AGP): Q3 EPS of $0.74 beats by $0.23. Revenue of $1.12B (+8.8%) in-line. Shares +4.7%. (PR)
• Amgen (AMGN): Q3 EPS of $1.23 beats by $0.15. Revenue of $3.88B (+7.3%) vs. $3.7B. Shares +4.4%. (PR)
• Anadigics (ANAD): Q3 EPS of $0.00 in-line. Revenue of $58.1M (-27.9%) vs $62.8M. Sees Q4 EPS of -$0.12 to -$0.14 vs. $0.02. Shares -17.8%. (PR)
• Baidu.com (BIDU): Q3 EPS of $1.47 beats by $0.19. Revenue of $135M (+104.2%) in-line. Shares -3%. (PR)
• Chipotle Mexican Grill (CMG): Q3 EPS of $0.59 in-line. Revenue of $340M (+18.9%) in-line. Announces a $100M share repurchase program. Shares +2.2%. (PR)
• Cirrus Logic (CRUS): FQ2 EPS of $0.15 beats by $0.06. Revenue of $53.3M (+13.4%) vs. $52M. Shares +15.5%. (PR)
• Cohen & Steers (CNS): Q3 EPS of $0.20 misses by $0.05. (PR)
• F5 Networks (FFIV): FQ4 EPS of $0.24 beats by $0.04. Revenue of $171M (+3.4%) in-line. Shares +7.7%. (PR)
• Intersil (ISIL): Q3 EPS of $0.44 beats by $0.04. Revenue of $219M (+10.3%) in-line. Sees Q4 EPS of $0.22-0.26 vs. $0.41. Shares +9.9%. (PR)
• Lam Research (LRCX): FQ1 EPS of $0.26 beats by $0.01. Revenue of $440M (-35.6%) in-line. Shares -3.4%. (PR)
• Noble (NE): Q3 EPS of $1.47 beats by $0.13. Revenue of $862M (+8.9%) vs. $871M. Shares +3.1%. (PR)
• Plantronics (PLT): FQ2 EPS of $0.41 beats by $0.02. Revenue of $217M (+4.2%) in-line. Sees FQ3 EPS of $0.25-0.33 vs. $0.46. Shares -8.1%. (PR)
• Pulte Homes (PHM): Q3 EPS of -$1.11 misses by $0.63. Revenue of $1.56B (-36.7%) vs. $1.53B. Impairments and land-related charges of $267M. Backlog = 5,885 homes. Shares -4.5%. (PR)
• Robert Half International (RHI): Q3 EPS of $0.43 in-line. Revenue of $1.16B (-1.6%) in-line. "Our third-quarter results clearly were impacted by the turmoil in the global financial markets... Clients became increasingly cautious with their hiring actions as the quarter progressed." (PR)
• Ryland Group (RYL): Q3 EPS of -$1.15 misses by $0.27. Revenue of $544M (-26.2%) vs. $512M. New orders of 1,284 units is down 31.6% Y/Y. (PR)
• Seagate Technology (STX): FQ1 EPS of $0.26 beats by $0.04. Revenue of $3.03B (-7.7%) vs. $3.16B. Shares -4.7%. (PR)
• SLM Corp. (SLM): Q3 EPS of $0.19 vs. consensus of $0.36. SLM increased its loan-loss provisions amid an increase in private-loan delinquencies. (PR)
• Smurfit-Stone Container (SSCC): Q3 EPS of -$0.08 misses by $0.04. Revenue of $1.88B (-0.3%) in-line. Shares +36.8% after dropping 24% in regular hours. (PR)
• Teradyne (TER): Q3 EPS of $0.09 misses by $0.03. Revenue of $297M (-0.7%) in-line. Sees Q4 EPS of -$0.18 to -$0.07 vs. $0.06 and revenue of $190-220M vs $272M. (PR)
• Terex (TEX): Q3 EPS of $1.08 misses by $0.25. Revenue of $2.51B (+14.5%) vs. $2.43B. Shares -4.3%. (PR)

Today's Markets

• Asia markets were sharply lower Thursday. Nikkei -2.46% to 8,461. Hang Seng -3.55% to 13,760. Shanghai -1.07% to 1,876. BSE Sensex -3.92% to 9,772.
• Europe is trading down at midday. London -1.74%. Paris -3.21%. Frankfurt -3.69%.
• After spending most of the night in positive territory, U.S. futures are now near their lows. Dow -0.48% to 8516. S&P -0.72% to 896.25. Nasdaq -0.9%.
• Crude +1.68% to $67.87. Gold -4% to $705.80.

Thursday's Economic Calendar

• 8:30 Jobless Claims
  10:35 EIA Natural Gas Report
  4:30 PM Money Supply

Seeking Alpha editor Rachael Granby contributed to this post.

Each day, Wall Street is flooded with stock research offering a multitude of conflicting investment opinions. As such, TickerMine is not in the business of providing more opinions. We believe that accurate raw data points can be used to gain insight in to the stock selection and valuation process.

Sales of Plantronics (PLT) Products Worse Y/Y

Two significant hands-free laws went into effect on July 1. In California, according to the Department of Motor Vehicles, the law prohibits all drivers from using a handheld wireless telephone while operating a motor vehicle, however, motorists 18 and over may use a "hands-free device." In the state of Washington, the law is virtually the same, prohibiting the use of a wireless device such as a cell phone being held to your ear while you are driving. Because of these new laws, there may a trading opportunity with the companies that make the Bluetooth headsets.

Unfortunately, you can't invest in Aliph, maker of the stylish Jawbone headsets, although two venture capital companies, Sequoia Capital and Khosla Ventures, own part of the company. However, there are plenty of other companies that make these headsets.

Each day, Wall Street is flooded with stock research offering a multitude of conflicting investment opinions. As such, TickerMine is not in the business of providing more opinions. We believe that accurate raw data points can be used to gain insight in to the stock selection and valuation process.

Plantronics (PLT) Named Best Brand For Bluetooth Products

• Costco sees tough year-end. Costco (COST) warned its Q4 EPS will be well below current consensus of $1.00 (report date Oct. 8). "Factors negatively affecting our 4Q earnings outlook arise largely from inflation, particularly as to energy costs." The warning is surprising, because discounters have been gaining market share as consumers hoard their cash. COST also revealed a $0.16 quarterly dividend, and authorized an additional $1B share buyback.
• Senate mulls more stimulus. The Senate is beginning to work on a second economic stimulus package this week, an indication of just how serious it thinks the current downturn is. Officials gave little indication as to the package's details; some think it could be aimed at spurring infrastructure investment or alternative energy. Pelosi spokesman Brendan Daly said recent economic reports, particularly last week's jump in the Consumer Price Index, are disconcerting enough to motivate lawmakers to act again to shore up the economy. "We think the first instance was very effective in that it increased spending by consumers and I would suggest the economy would be worse off without that spending." [DJ]
After you finish reading Wall Street BreakfastSeeking Alpha's Market Currentswill keep you current all day long.
• Yahoo comes up short, market yawns. Net income of $131.2M missed analyst estimates (see below). Shares gained 2% in extended trading as results weren't as bad as some had feared. "We knew they were going to miss, but it's not as bad as we feared. Their business is hanging in there, but it still all about Microsoft," Piper Jaffray's Gene Munster said. Still, Canaccord Adams' Colin Gillis called the report uninspiring, "a common theme resonating out of Yahoo these days."
• WaMu swings to loss. The nation's largest thrift lost $3.33B (see below) as WM bolsters its loan-loss reserve in response to ongoing housing market stress. WaMu's provision soared to $5.91B from $372M last year and $3.51B last quarter. Still, it says it sees some settling in early-stage delinquencies, and expects 2008 will be a peak year for loss reserves. Moody's warned yesterday it may downgrade WM's credit rating to junk. Shares are down 57.2% YTD.
• Japan's No. 1 insurer buys U.S. firm. Tokio Marine (TKOMY.PK), Japan's largest insurer, is buying Philadelphia Consolidated (PHLY) for $61.50/share ($4.7B) - a 73% premium. "It's quite an aggressive move, but it is quite important for a Japanese financial firm to increase its presence in a major insurance market," a Tokyo-based analyst said.
• Schwab moves on. Charles Schwab (SCHW) named Walter W. Bettinger II as its new chief - the second attempt by the brokerage's founder and namesake (a.k.a. Charles Schwab) to pass the torch. SCHW also boosted its quarterly dividend by 20% to $0.06. Yesterday Morningstar said Schwab's YieldPlus fund has seen the greatest net outflow in the entire fund industry for H1 - deflating by $4.8B (73%).
• Glaxo spreads its wings. GlaxoSmithKline (GSK) will begin selling cheap generic medicines in emerging markets, amid difficult conditions for branded drugs in the U.S. and Europe. GSK is teaming up with South Africa's Aspen Pharmacare.
• Crude slips some more. Crude oil futures fell $3 Tuesday, and are down another $2 to $126 in pre-market trading as it became clear Tropical Storm Dolly would avoid oil rigs and refineries. Tuesday, T. Boone Pickens unveiled his 'Pickens Plan' before the Senate's Homeland Security and Government Affairs Committee, stressing the threat posed by $700B spending on oil imports. Pickens wants more wind-power generated electricity and natural gas powered vehicles.
• Pfizer's Viagra - for women too? A new study published in the Journal of the American Medical Association shows Pfizer's (PFE) Viagra can reduce the effects women experience as a result of antidepressants. It could open up a new market for the drug, whose sales haven't grown for years.
• Plosser pushes rate rise. Philly Fed governor Charles Plosser said Tuesday the Fed would likely need to hike interest rates sooner rather than later. "We will need to reverse course... [likely] before either the labor market or the financial markets have completely turned around."
• Corn futures fell another 2.3% to $5.94/bushel - the lowest since Apr. 1.
• Fed minutes released Tuesday reveal directors of two of the 12 Fed banks (KC and Dallas) wanted a 0.25% hike in the discount rate to 2.5% on June 23. Regional banks, torn between concerns over stunted growth and inflation, saw both upside and downside risks - and chose to stand pat.
• The Richmond Fed's Manufacturing Index fell to -16 in July from -12. Among the index's components, shipments were -12 to -23, new orders -4 to -17, and jobs +7 to -5.
• Ofheo's House Price Index fell 0.3% in May, bringing the 12-month total to -4.8%. Prices are down 4.9% from the peak in Apr. 2007.
• ICSC's weekly retail sales index rose by 0.1%. Redbook's measure of U.S. retail saw sales climb 1.1% in the first two weeks of July vs. June, short of an expected 1.4%. Strong discount-store sales made up for a drop at department stores.

Earnings: Wednesday Before Open

• Dover (DOV): EPS of $0.98 beats by $0.03. Revenue of $2B (+10.9%) in-line. [PR]
• Praxair (PX): EPS of $1.08 beats by $0.02. Revenue of $2.88B (+23.4%) vs. $2.72B. Approves new $1B share repurchase. [PR]
• Radware (RDWR): EPS of $0.25 misses by $0.07. Revenue of $24M (+11.9%) in-line. [PR]
• Travellers (TRV): EPS of $1.50 beats by $0.05. Revenue of $5.36B (+0.6%) vs. $6.61B. Sees full-year EPS of $5.55-5.85 vs. $5.93. [PR]
• WellPoint Health Networks (WLP): EPS of $1.44 beats by $0.08. Revenue of $15.48B (+3.1%) vs. $15.61B. [PR]
• Whirlpool (WHR): EPS of $1.53 beats by $0.16. Revenue of $5.08B (+4.6%) in-line. Sees full-year EPS of $7.00-7.50 vs. $6.71. [PR]

Earnings: Tuesday After Close

• ANADIGICS (ANAD): EPS of $0.18 beats by $0.02. Revenue of $80.5M vs. $78.1M. [PR]
• Boston Private Financial (BPFH): EPS of $0.33 beats by $0.08. Revenue of $120M (+24%) vs. $109M. [PR]
• Boston Properties (BXP): EPS of $1.21 beats by $0.04. Revenue of $368.5M (-1%) in-line. [PR]
• Broadcom (BRCM): EPS of $0.25 misses by $0.11. Revenue of $1.2B vs. $1.11B. Shares +1.3%. [PR]
• Cemex (CX): EPS of $0.59 misses by $0.14. Revenue of $6.35B (+29.2%) in-line. [PR]
• E*TRADE Financial (ETFC): EPS of -$0.19 misses by $0.05. Revenue of $343M (-15.9%) vs. $332M. "[T]he current economic environment may impede our expectations to return to profitability from continuing operations this year." [PR]
• Illumina (ILMN): EPS of $0.44 beats by $0.16. Revenue of $140M vs. $130M. Sees 2008 EPS of $1.64-1.75 vs. $1.21. Shares +8.2%. [PR]
• Infinera (INFN): EPS of $0.44. Revenue +31.7% to $91M vs. $89M. Shares +5.7%. [PR]
• Intuitive Surgical (ISRG): EPS of $1.28 beats by $0.10. Revenue of $219M (+56.3%) vs. $209M. Shares +13%. [PR]
• Linear Technology (LLTC): EPS of $0.46 beats by $0.01. Revenue of $307M (+3.1%) in-line. [PR]
• O'Reilly Automotive (ORLY): EPS of $0.48 in-line. Revenue of $704M (+9.5%) in-line. [PR]
• Pactiv (PTV): EPS of $0.50 beats by $0.02. Revenue of $951M (+14.9%) vs. $931M. Sees Q3 EPS of $0.32-0.40 vs. $0.47. Shares -6.5%. [PR]
• Panera Bread (PNRA): EPS of $0.55 beats by $0.06. Revenue of $321M (+28.6%) in-line. Sees Q3 EPS of $0.42-0.44 vs. $0.41. [PR]
• Parametric Technology (PMTC): EPS of $0.33 beats by $0.03. Revenue of $273M (+21.3%) vs. $265M. Shares +2%. [PR]
• Plantronics (PLT): EPS of $0.45 beats by $0.11. Revenue of $219M vs. $209M. [PR]
• Raymond James Financial (RJF): EPS of $0.59 beats by $0.04. Revenue of $809M (+1.7%) vs. $709M. Shares +1.8%. [Reuters]
• ST Microelectronics (STM): EPS of $0.18 beats by $0.06. Revenue of $2.39B (-1.1%) in-line. [PR]
• USANA Health Sciences (USNA): EPS of $0.62 beats by $0.01. Revenue of $109M in-line. Shares -1.7%. [PR]
• VMware (VMW): EPS of $0.23 in-line. Revenue of $456M in-line. Sees Q3 revenue of $462-468M vs. $497M. Operating margin 24.6% up from 24.3% and better than 24.4% consensus. Shares -9.2%. [PR]
• Washington Mutual (WM): EPS of -$3.34 misses by $2.29. Loan loss reserves jump by $3.74B to $8.46B. Says it has $40B+ in liquidity. Shares +11%. [PR]
• Waste Connections (WCN): EPS of $0.39 in-line. Revenue of $267M (+10.7%) in-line. [PR]
• Yahoo! (YHOO): EPS of $0.10 misses by $0.02. Revenue of $1.35B in-line. Shares +1%. [PR]
• Zimmer (ZMH): EPS of $0.99 misses by $0.04. Revenue of $108M (+11.3%) in-line. Shares -8%. [PR]

Today's Markets

• In Asia Wednesday, the Nikkei gained 0.97% to 13,313. Hang Seng +2.69% to 23,135. Shanghai -0.29% to 2,838. BSE +5.94% to 14,942 after India's PM won a parliamentary vote of confidence.
• Europe is broadly higher at midday. London +1.4%. Paris +1.6%. Frankfurt +1.1%.
• Futures indicate a higher open. Dow +0.6%. S&P +0.6%. Nasdaq +0.7%. Crude -1.9% to $126. Gold -1.6% to $934.

F1Q09 Earnings Call

July 22, 2008 5:00 pm ET

Each day, Wall Street is flooded with stock research offering a multitude of conflicting investment opinions. As such, TickerMine is not in the business of providing more opinions. We believe that accurate raw data points can be used to gain insight in to the stock selection and valuation process.

Power Adaptors are the Best Selling iGo product, Survey says

Mobility Electronics Inc. (MOBE), the Scottsdale, Arizona-based company that develops universal power adapters for portable computers and mobile electronic devices is seeing big changes this month including a ticker symbol change and news that the company reported a net loss for the first quarter of $235,000 or $0.01 per share. Tickermine consulted various retailers stocking the products including Best Buy (BBY), RadioShack (RSH) and CompUSA.

F4Q08 Earnings Call

April 29, 2008 5:00 pm ET

Wall Street Analyst Forum

March 27, 2008 12:30 pm ET

F3Q08 Earnings Call

January 22, 2008 5:00 pm ET

Plantronics (PLT) Tuesday afternoon reported revenue for the fiscal third quarter ended December of $232.8 million, with non-GAAP EPS of 50 cents a share. The company had previously projected revenue of $230 million to $235 million and non-GAAP EPS of 37-42 cents.

That’s good. What’s not so goods is the outlook. Plantronics sees revenue for the fiscal fourth quarter of $195 million to $205 million, below the consensus estimate of $211.3 million. The company sees non-GAAP EPS of 24-32 cents a share, below the Street estimate of 33 cents. The company said that the order rate in January in its U.S. office and contact center business is running below that of a year ago due to “deteriorating economic conditions.” The company said that with increased economic uncertainty, its business “is even more difficult to forecast than usual.” The company expects sequential revenue declines in both its audio communications group and its audio entertainment group, with an non-GAAP operating loss in the audio entertainment group exceeding that of the third quarter.

Tuesday 1/22 @ 5:00pm ET: PLT 3Q08 EPS after market close – expect in-line results but cautious outlook due to macro concerns.