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Earnings News

As AOL stock begins limited trading, analyst takes a look at potential value

By Dan Burrows | Nov 24th 2009, 5:00PM EST Filed Under: Company News, Technology, Investing, Earnings, Time Warner

AOL, or "Aol.," as DailyFinance's corporate parent shall soon be known, won't be spun off from Time Warner (TWX) until Dec. 9, but Wall Street is already forecasting its (or should we say, "our") business prospects.

Barclays Capital analyst Douglas Anmuth laid out his earnings estimates for soon-to-be-independent AOL on Tuesday, coinciding with the stock trading on a "when-issued" basis on the New York Stock Exchange. (A when-issued listing is standard practice ahead of a spin-off in order to ensure a smooth transition for market participants.)

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Big box bookstores don't see a happy ending ahead for holiday sales

By Sarah Weinman | Nov 24th 2009, 12:00PM EST Filed Under: Company News, Earnings, Media

Retailers in general aren't expecting to do boffo business on Black Friday, but big box bookstores Barnes & Noble (BKS) and Borders (BGP) might be excused for their more intense states of anxiety. Both companies issued quarterly reports Tuesday morning, and based on earnings and sales, both have good reason to be nervous that the holidays won't deliver for them.

Barnes & Noble reported that store sales for its fiscal second quarter, which ended Oct. 31, fell 2% to $950 million, with same store sales falling 3.2%. The total...

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Hewlett-Packard posts a 14% earnings rise, but investors aren't impressed

By Sam Gustin | Nov 23rd 2009, 6:00PM EST Filed Under: Company News, Technology, Earnings, Hewlett-Packard, Dell, IBM

Hewlett Packard (HPQ), the Silicon Valley pioneer, reported a 14% jump in profit Monday night, thanks to cost-cutting measures that more than offset an 8% reduction in revenue. The results weren't a surprise: HP provided guidance earlier this month, when it announced plans to acquire 3Com, the networking giant.

"We believe that HP will outperform the market," HP CEO Mark Hurd said in an upbeat appearance on CNBC. "Spending will continue to be prudent in 2010, but it will be better than 2009."

Despite the profit growth, investors weren't that impressed. HP shares were trading down over half a percent late Monday in after-hours trading.

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Campbell Soup's stock looks m'm, m'm good

By Dan Burrows | Nov 23rd 2009, 4:45PM EST Filed Under: Investing, Earnings, Campbell Soup Company, Stock Picks

When you're the world's biggest soup maker, it's important to have good stock.

Campbell Soup (CPB) reported Monday that its fiscal-first quarter earnings rose 17%, beating Wall Street's view by a hearty 6 cents a share. True, revenue dipped slightly, but that was more due to difficult year-over-year comparisons and the fact that Campbell rolled out its major soup-season marketing campaign a couple of months early this year.

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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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