“Zynga Inc. (ZNGA), the biggest developer of games played on Facebook Inc. (FC)’s socialnetwork, fell as much as 40 percent in early trading after missing analysts’ second- quarter revenue and profit estimates.”
Comments »Construction Demand Helps Caterpillar to Boost its 2012 Forecast
“Caterpillar Inc. (CAT), the world’s largest maker of construction and mining equipment, posted second-quarter profit that beat analysts’ estimates and raised its full-year earnings forecast as demand increased from North American builders and overseas miners.
Net income rose to $1.7 billion, or $2.54 a share, from $1.02 billion, or $1.52, a year earlier, the Peoria, Illinois- based company said in a statement today. Profit was more than the $2.28 average of 20 estimates compiled by Bloomberg. The shares rose 4.4 percent to $85.01 at 7:42 a.m. before the start of regular trading in New York.”
Comments »Boeing Beats the Street and Guides Higher
“Boeing Co. (BA) boosted its full-year outlook for the second time this year after quarterly profit topped analysts’ estimates following 27 percent growth in commercial-jet deliveries and higher military-aircraft sales.
Net income rose to $967 million, or $1.27 a share, from $941 million, or $1.25, a year earlier, Boeing said today in a statement. The average of 24 analysts’ estimates compiled by Bloomberg was $1.13.”
Comments »Eli Lilly Profits Fall Less Than Expected on Better Anti-Depressant Sales
“Eli Lilly & Co. (LLY) reported a second- quarter profit that fell less than analysts estimated as the company boosted sales of the antidepressant Cymbalta after its former top-selling drug Zyprexa lost patent protection.
Net income declined 23 percent to $924 million, or 83 cents a share, the Indianapolis-based company said today in a statement. Profit excluding one-time items beat by 6 cents the average of 15 analysts’ estimates compiled by Bloomberg. Revenue dropped 10 percent to $5.6 billion.”
Comments »Pepsico Profits Fall Less Than Expected
“PepsiCo Inc. (PEP), the world’s largest snack-food maker, reported second-quarter profit that fell less than analysts’ estimated after raising prices.
Profit excluding some items was $1.12 a share, Purchase, New York-based PepsiCo said today in a statement. That exceeded the $1.09 average of 15 estimates compiled by Bloomberg. Net income in the quarter fell 21 percent to $1.49 billion, or 94 cents a share, from $1.89 billion, or $1.17, a year earlier.”
Comments »Netflix Plunges On Guarded Outlook For New 2012 Signups
“Netflix Inc. (NFLX), the world’s largest video-subscription service, fell 20 percent in early trading after raising doubts about whether the company can meet its user-growth targets this year.”
Comments »Ford Lowers 2012 Outlook As European Losses Cut Profit
“Ford Motor Co. (F), the second-largest U.S. automaker, lowered its outlook for full-year profit while reporting second-quarter net income fell 57 percent as losses in Europe ballooned and overshadowed earnings in North America.”
Comments »Netflix Tumbles After Subscriber Shortfall
$NFLX is getting its ass kicked in the after-hours market, down -16%. For an analysis of Netflix’s latest earnings report, read here.
Comments »$AAPL Reports $9.32 vs Estimates of $10.36 , $35 Billion in Revenues Also a MISS
$AAPL guides slightly lower to $34 billion
26 million iPhones sold vs consensus of 30 million
17 million iPads sold vs consensus of 16 million
Comments »Panera Bread Beats by $0.08 Per Share
UPS Achieves Higher Profits, Misses Expectations
Both top and bottom line missed expectations. Stock is off considerably in pre-market trade.
Comments »Higher Margins Increase AT&T’s Profits
Altria Sees its Profits Triple
DuPont Beats by $0.02 Per Share, Guides Lower as Net Profits Fall
Hasbro Profit Drops 25% on Lower Sales
“Hasbro Inc.’s HAS +3.31% second-quarter profit fell 25% as sales slid across nearly all major segments, with the boys business suffering the most as demand for toys tied to Marvel films couldn’t match a strong performance led by “Transformers” and “Beyblade” last year.”
Comments »$MCD Misses Quarterly Estimates for the First Time Since 2005
Forex problems helped McDonald’s miss earnings for the first time since 2005.
Comments »Microsoft Posts Its First Loss as a Public Company
“NEW YORK (Reuters) – Microsoft Corp reported its first quarterly loss as a public company on Thursday as it took a previously announced hit for writing down the value of its ailing online unit, but held up better than expected in the face of stagnant computer sales.
Excluding the multibillion-dollar write-down, which was signaled earlier this month, and factoring in some deferred Windows revenue, the world’s largest software company actually exceeded Wall Street’s expectations, boosting its shares in after-market trading.”
Comments »$GOOG is On Fire as Ad Revenues Leap 21%
“SAN FRANCISCO (Reuters) – Google Inc’s revenue increased 21 percent as strength in its Internet advertising business offset a persisting drop in ad rates, stirring hopes among investors the Web search leader is close to slowing that decline.
Shares of Google were up about 3 percent in after hours trade.
Advertising rates, or costs per click, have headed south as users gravitate to smartphones and tablets, where Google can generally charge less than on desktop computers.”
Comments »$GE Beats by a Penny, Revenues Light
$GE beat estimates by a penny as Jeff Imelt moves the company towards industrial production and away from financing.
Comments »Disaster Losses Help Travelers to Miss Estimates
“(Reuters) – Travelers Cos Inc reported lower-than-expected quarterly profit on Thursday as the insurer’s catastrophe losses fell from a year ago but were still higher than historical norms.
Travelers executives said they believe the industry lost more than $10 billion on natural disasters in the April-June period, making it one of the worst quarters ever. Chief Executive Jay Fishman, on a call with analysts, said the company lost more in the quarter than it would normally lose in a full year not that long ago.
To deal with the losses, Travelers said it is continuing to push for higher prices where it can and also tightening up on terms and conditions — for example, refusing to insure houses with roofs of a certain age.”
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