“Merck KGaA (MRK), the German maker of the cancer drug Erbitux, reported third-quarter profit that exceeded analyst estimates and increased the full-year sales forecast on higher demand for its medicines.

Earnings before interest, taxes, depreciation and amortization excluding one-time items climbed 16 percent to 754.2 million euros ($960.8 million) from 652.5 million euros a year earlier, said in a statement. Analysts had predicted 739.9 million euros, the average of estimates compiled by Bloomberg.

Merck, which isn’t related to U.S. drugmaker Merck & Co., is eliminating jobs, closing facilities and reviewing its pipeline amid setbacks for some key medicines and declining sales of Erbitux. The German company has a target to save 300 million euros by 2014 as it expands outsideEurope, particularly in the U.S., Japan and China.”

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Wall st. was looking for $2.48 a share, $ANF now expects between $2.85 -$3.00.

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“(Reuters) – Staples Inc , the largest U.S. office supply chain, reported a slightly better than expectedquarterly profit, as costs declined and sales in North America held up, although weakness in Europe and Australia hit overall revenue.

Staples shares were up 4 percent at $11.70 in premarket trade. They had fallen by about a 20 percent this year.

Staples’ third-quarter adjusted profit beat estimates by 1 cent per share, although restructuring coststook it to a net loss.

Office supply chains are a good gauge of economic health because demand for their products is closely tied to white-collar employment rates.

Sales at Staples have suffered as corporate customers and other shoppers cut back on discretionary spending in the weak global economy, forcing the chain to keep a tight lid on costs.

But in the latest quarter, Staples reported North American delivery sales rose 1 percent even as retail sales remained flat.”

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$AKS is down 14% after announcing a huge loss and lowered guidance.

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“Saks Inc. (NYSE: SKS) this morning shared in-line earnings results for the third quarter but warned that fourth-quarter results would take a hit due to Hurricane Sandy.

The New York-based department store operator posted adjusted earnings per share (EPS) of $0.12 on revenues of $713.2 million for the quarter. In the same period a year ago, it reported a EPS of $0.11 per share on revenue of $692.3 million. This quarter’s results also compare with the Thomson Reuters estimates for adjusted EPS of $0.12 and $726.1 million in revenues.

Chairman and Chief Executive Officer Stephen I. Sadove said:”

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Michael Kors Holdings Ltd. (NYSE: KORS) reported second fiscal quarter 2013 adjusted diluted earnings per share (EPS) of $0.49 and $532.9 million in revenues before markets opened this morning. In the same period a year ago, the luxury apparel maker and retailer reported EPS of $0.25 on revenue of $287.9 million. Second-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.40 and $519.3 million in revenue.

Global same-store sales for the quarter rose 41.3% year-over-year, and the company says it has opened 66 new stores since the end of the second fiscal quarter of 2012.

Kors’s CEO said:”

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“TJX Companies Inc. (NYSE: TJX) this morning reported solid fiscal third-quarter results and boosted its guidance.

The Framingham, Mass.-based off-price retailer posted adjusted earnings per share (EPS) of $0.62 on revenues of $6.41 billion for the quarter. In the same period a year ago, it reported a profit of $0.53 per share on revenue of $5.79 billion. This quarter’s results also compare with the Thomson Reuters estimates for adjusted EPS of $0.61 and $6.39 billion in revenues.”

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“Home Depot Inc. (HD), the largest U.S. home-improvement retailer, posted third-quarter profit that topped analysts’ estimates as the recovering U.S. housing market prompted customers to spend more on home repairs.

Net income climbed 1.4 percent to $947 million, or 63 cents a share, from $934 million, or 60 cents, a year earlier, the Atlanta-based company said today in a statement. Excluding some items, profit was 74 cents. The average estimate of 25 analysts surveyed by Bloomberg was 70 cents. Sales rose 4.6 percent to $18.1 billion, topping the $17.9 billion average estimate.

U.S. real estate values are rebounding after a five-year decline, sending homeowners back to stores for remodeling supplies. Sales at Home Depot locations open at least a year rose 4.2 percent, the sixth straight quarterly increase, as customers visited more often and spent more per trip.”

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“Vodafone Group Plc (VOD) reported service revenue that missed estimates and a 5.9 billion pound ($9.4 billion) writedown in Spain and Italy that sank the world’s second-largest mobile-phone company into a first-half net loss.

Service sales fell 1.4 percent in the second quarter ended Sept. 30 excluding the impact of acquisitions and currency fluctuations, Newbury, England-based Vodafone said today. That’s the first decline in 10 quarters and double analysts’ projection for 0.7 percent contraction compiled by Bloomberg. The first- half net loss was 1.98 billion pounds, after a 6.68 billion- pound profit a year earlier.”

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“J.C. Penney Co. (JCP) reported a third- quarter loss that was larger than analysts estimated as Chief Executive Officer Ron Johnson struggles to overhaul the fourth- largest U.S. department-store company. The shares fell in early trading.

The net loss of $123 million, or 56 cents a share, in the three months ended Oct. 27 compares with a loss of $143 million, or 67 cents, a year earlier, the Plano, Texas-based company said today in a statement. Excluding items including store restructuring and management-transition costs, the loss was 93 cents a share. The average of eight analysts’ estimates compiled by Bloomberg was for a 7-cent loss.”

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“Credit Agricole SA (ACA), France’s third- largest bank, posted a quarterly loss that exceeded analysts’ estimates on costs tied to the sale of its Greek unit.

The shares fell the most in six weeks after the bank, based outside of Paris, reported a third-quarter net loss of 2.85 billion euros ($3.62 billion). That’s wider than the 1.88 billion-euro average estimate of seven analysts surveyed by Bloomberg.”

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“Groupon shares crashed another 16% after earnings, to a new all-time low of $3.25 a share.

Why?

Because the company blew another quarter.

Revenue of $569 million came in below expectations of $590 million.

EPS of $0.00 missed estimates of $0.03 cents.

And Groupon’s guidance was disappointing.

The company actually blames Europe:”

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Layoffs at $GRPN

Qualcomm (QCOM) reported earnings after the bell on Wednesday. The company’s report was one of the rare reports that delighted investors from the tech sector this quarter. It highlights why Qualcomm will remain one of the core positions in my portfolio even in these volatile markets.

Key earnings highlights for Qualcomm:

• Revenue came in at $4.87B versus expectations of $4.66B. The company credited the revenue increase to the launch of the latest iPhone from Apple (AAPL) at the end of the quarter and the popularity of smartphones from Samsung.
• The company also provided next quarter guidance of between $5.6B and $6.1B, this range was above consensus calling for $5.6B in sales in the quarter.
• Qualcomm also called for robust full-year 2013 revenue growth in a range of 20 percent to 26 percent.
• Finally, earnings came in at 89 cents a share, a full 7 cents above estimates.

4 additional reasons QCOM is heading higher from $62 a share:”

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“(Reuters) – Duke Energy Corp , the largest power company in the United States, posted a better-than-expected quarterly profit on Thursday due to benefits from its summer acquisition of rival Progress Energy.

For the third quarter, the company posted net income of $594 million, up from $472 million a year earlier. Earnings per share fell to 85 cents from $1.06 as shares outstanding increased 57 percent, due in part to the Progress deal.

Excluding charges to integrate Progress and other one-time items, Duke earned $1.47 per share. By that measure, analysts expected $1.45, according to Thomson Reuters I/B/E/S.

Chief Executive Jim Rogers said Duke is “on track” to hit its 2012 earnings forecast of $4.20 to $4.35 per share, and the integration of the two companies is progressing.”

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“(Reuters) – Kohl’s Corp reported a slightly higher third-quarter profit on Thursday, as sales perked up later in the period, and the department store operator forecast same-stores sales will rise during the current holiday quarter.

Kohl’s, which has 1,146 stores, expects holiday quarter earnings of $2.00 per share to $2.08 per share, compared with the $2.16 Wall Street analysts had been expecting, according to Thomson Reuters I/B/E/S.

The retailer, which competes most directly with Macy’s Inc and J.C. Penney Co Inc , forecast sales at stores open at least year would be up 3 percent to 4 percent in the quarter that includes the Christmas period, an improvement over the 1.1 percent pace in the third quarter.

Kohl’s posted a third-quarter profit of $215 million, or 91 cents per share, up slightly from $211 million, or 80 cents per share, a year earlier.

As previously reported, overall sales rose 2.6 percent to $4.49 billion.

(Reporting by Phil Wahba in New York; Editing by Gerald E. McCormick)”

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“(Reuters) – Wendy’s Co , the second-largest U.S. hamburger chain, reported an adjusted quarterly profit that missed Wall Street’s view as labor and marketing costs rose.

The company reported a bigger net loss of $26.2 million, or 7 cents per share, for the third quarter compared with a net loss of $3.9 million, or 1 cent per share, a year earlier.

Excluding a pretax charge of about $50 million from early extinguishment of debt, Wendy’s reported adjusted earnings from continuing operations of 3 cents per share.

Revenue rose 4.1 percent to $636.3 million. Same-store sales at established Wendy’s North America company-operated restaurants rose 2.7 percent.

Analysts on average had expected a quarterly profit of 5 cents per share on revenue of $640.15 million, according to Thomson Reuters I/B/E/S.

Shares of the Dublin, Ohio-based chain closed at $4.26 on the Nasdaq on Wednesday. (Reporting byAditi Shrivastava in Bangalore and Lisa Baertlein in Los Angeles; Editing by Joyjeet Das)”

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“Societe Generale SA (GLE), France’s second- largest bank, reported an 86 percent decline in third-quarter profit as losses on asset sales and a charge related to its own debt outweighed an investment-banking rebound.

Net income dropped to 85 million euros ($109 million) from 622 million euros a year earlier, the Paris-based company said in an e-mailed statement today. Earnings at the corporate and investment bank rose fourfold, lifting the bank’s shares by as much as 3.7 percent in Paris trading.”

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“NEW YORK (AP) — Time Warner said Wednesday that its third-quarter earnings grew 2 percent, as a strong performance in its cable television channels offset declines in the Warner Bros. movie business following the final Harry Potter movie last summer.

Net income was $838 million, or 86 cents per share, higher than the 82 cents expected by analysts surveyed by FactSet. That compares with $822 million, or 78 cents a share, a year ago.

Revenue fell 3 percent to $6.84 billion, short of the $6.89 billion expected.

Television networks such as HBO and TBS saw a 7 percent growth in the fees paid by cable and satellite distributors to carry the channels. Advertising revenue fell 1 percent at the networks, partly because of the timing of certain sports events on its channels.”

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“NEW YORK (AP) — Kraft Foods’ net income rose 13 percent in the third quarter, the food maker said Wednesday, as new products and increased advertising helped it top Wall Street expectations.

The company, which makes Oscar Mayer, Maxwell House coffee and Miracle Whip, also stood by its forecast for 2013.

The results are the first since Kraft Foods Group Inc., based in Northfield, Ill., split with its global snack food business. That company is called Mondelez International and is home to brands such as Oreo, Chips Ahoy and Nabisco. The split was intended to accelerate growth by allowing each of the companies to focus on a more targeted portfolio of products.”

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