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Earnings News

With a name like Smucker, the stock's got to be good

By Dan Burrows | Nov 20th 2009, 4:20PM EST Filed Under: Company News, Investing, Earnings, Stock Picks

Cash-strapped consumers are eating more meals at home and that's slathering J.M. Smucker's (SJM) bottom line in sweet, sticky profits.

The packaged-food maker said Friday that fiscal second-quarter earnings boomed more than 170%, blowing past Wall Street's estimates by 18 cents a share, according to Thomson Reuters. Even more impressive, revenue leaped by 52%.

Smucker may be best known for its eponymous jams and jellies -- other brands include Jif, Hungry Jack, Crisco and Pillsbury -- but it's the Folgers coffee business the company acquired from Procter & Gamble (PG)...

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Old Navy's sales rise, lifting Gap's 3Q profit up 25% to best results this decade

By Mercedes Cardona | Nov 19th 2009, 7:15PM EST Filed Under: Company News, Earnings

Sales of kid's clothing and jeans helped a slimmer Gap (GPS) deliver its best third-quarter results in this decade. Now, management says it's going after market share, even in this tough market.

The parent of The Gap, Old Navy and Banana Republic posted net income of $307 million, up 25% over a year ago with the 44 cents per share in earnings hitting analysts' target for the period. Executives said the company reaped its best third-quarter operating profit in 10 years by increasing its profit margins through tweaking its merchandise mix and controlling costs.

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Dell profit falls 54%, missing forecasts and a tech recovery

By AP | Nov 19th 2009, 5:30PM EST Filed Under: Company News, Technology, Earnings, Hewlett-Packard, Dell

Dell (DELL) said Thursday that its net income dropped 54% in the latest quarter amid signs the company isn't fully benefiting from the computer industry's fledgling recovery. Dell's numbers missed Wall Street's forecasts, and the shares fell almost 6% in extended trading.

In the last quarter, Dell lost its ranking as the world's No. 2 personal computer maker, a slot now held by Taiwan's Acer Inc. Dell rivals such as Acer and Hewlett-Packard (HPQ) have stolen market share in part by exploiting their bigger presence in retail stores. That has been a big weapon because consumer interest in little laptops called "netbooks" has helped...

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Bra sales at Victoria's Secret boost earnings for Limited Brands

By Mercedes Cardona | Nov 19th 2009, 2:40PM EST Filed Under: Company News, Economy, Earnings

Shoppers are looking for more casual pajamas, antibacterial toiletries and moderately priced underwear, executives at Limited Brands (LTD) say. The parent company of the Victoria's Secret and Bath & Body Works chains posted better than expected results in the third quarter and upgraded its forecast for the rest of the year, thanks to cost-cutting and improved sales of some products.

Limited Brands' net income was $6.1 million, after factoring out some gains from tax adjustments, compared to $4.2 million the same time last year. That translates into a gain of two cents per share; analysts had forecast a one-cent loss.

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Sears cuts its losses in 3Q, Kmart sales turn up

By Mercedes Cardona | Nov 19th 2009, 11:20AM EST Filed Under: Company News, Earnings, JC Penney, Sears Holdings Corp., Wal-Mart Stores, Target Corp.

An improvement in sales at Kmart and cost-cutting overall helped Sears Holdings Corp. (SHLD) show better results in the third quarter.

The parent of Sears and Kmart stores posted a net loss of $127 million, less than the $146 million it posted the same time last year. That translates to $1.09 per share, or 80 cents per share after factoring out some one-time items, beating Wall Street's forecast of $1.09 per share.

The company's comparable store sales in the U.S. dropped 2.3%, with sales up 0.5% at Kmart, but down 4.6% at Sears. Kmart's sales rose thanks to better sales of toys and home items, while Sears was hurt by slow...

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Daily Blogwatch: Why is Ron Paul wrong? What are the best stocks of the decade?

By James Altucher | Nov 19th 2009, 8:00AM EST Filed Under: Company News, Technology, Columns, Economy, People, Investing, Earnings, Media

Uh oh, Is Amazon.com (AMZN), an example of Bubble 2.0?

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Why Ron Paul is wrong about everything he says on the economy.

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Interesting to see which are the best stocks of the decade.

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Retailer Sears posts second consecutive quarterly loss

By AP | Nov 19th 2009, 6:49AM EST Filed Under: Company News, Earnings, Sears Holdings Corp.

Sears Holdings Corp. (SHLD) posted a smaller third-quarter loss Thursday because it cut costs and better matched inventory with falling sales.

The news sent the retailer's stock up $2.80, or 3.7 percent, to $78.57 in premarket trading.

The company led by hedge fund financier Edward Lampert has struggled for years, with shoppers dwindling at its Sears and Kmart stores. But the retailer recently launched a major campaign to win over holiday shoppers - with measures like its new Christmas Club cash savings card good at Sears and Kmart stores - and capitalize on last year's successful holiday layaway program.

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Sony's major miss on profit targets

By Douglas McIntyre | Nov 19th 2009, 5:00AM EST Filed Under: Earnings, Sony

Sony (SNE) held its investor and analyst meeting on November 19th. Tucked among the presentation materials was information about the company's new targets aimed at getting its profits and operating income back to "normal" levels. The problem with the projection is that it is for the fiscal year ending March 31, 2013. Sony only expects a small profit in the 2011 fiscal year, mostly based on sales of its Playstations, TVs and camera hardware.

Sony previously said it would return to "normal" levels of margins in 2011. But reaching that goal has been pushed out by two years. "It's a very realistic plan; there is little flair,...

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Target: 3Q profit beats the Street on clothing sales and credit

By Mercedes Cardona | Nov 17th 2009, 2:30PM EST Filed Under: Company News, Economy, Earnings, Wal-Mart Stores, Target Corp.

Shoppers are still tight with the buck, but they're starting to buy clothes again -- and they're using their store cards -- according to Target Corp. (TGT), which reported earnings that easily beat expectations.

Target reported an 18.4% increase in profits for the third quarter over that period last year, even with a modest 1.4% increase in sales and a 1.6% drop in same-store sales. Net income of $436 million, or 58 cents per share, easily beat Wall Street's expectations of 50 cents per share.

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Home Depot beats expectations in 3Q, but keeps its sights low for now

By Mercedes Cardona | Nov 17th 2009, 11:40AM EST Filed Under: Company News, Earnings, Home Depot, Lowe's Companies, Inc

It looks like the weak housing market will keep hammering home improvement retailers for a while. Even while reporting earnings that beat Wall Street's expectations, Home Depot (HD) warned that it sees no short-term improvement in the housing market to boost its sales in the near future.

The largest home improvement retailer reported net income in the third quarter dropped 8.9% below the same time last year to $689 million, or 41 cents per share, which beat Wall Street's estimate by a nickel. Sales were down 8% and comparable sales were down 6.9%, led by a 7.1% drop in U.S. stores.

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