Market News
D.R. Horton (DHI)
California homebuilder D. R. Horton Friday said it had a net loss for the fiscal fourth quarter ended Sept. 30 of $231.9 million, or 73 cents a share, compared with a year-earlier loss of $799.9 million, or $2.53 a share. Revenue slumped 44 percent to $1 billion as the number of completed sales dropped 31 percent.
Results missed Street estimates
Nov 20 · 1:21:00 PM · Source: Company News
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by Larry Etter
America's Car-Mart Inc. (CRMT)
America's Car-Mart said its fiscal second quarter net income attributable to common shareholders increased to $6.3 million or $0.53 per share from $3.87 million or $0.33 per share in the previous year. Total revenues for the quarter grew 14.7% to $82.56 million from $71.98 million in the same quarter last year. Three analysts estimated revenues of $80.56 million for the quarter.
Nov 20 · 1:15:00 PM · Source: Company News
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by Larry Etter
J.M. Smucker (SJM)
J.M. Smucker said Friday it had fiscal second quarter profit of $140 million, or $1.18 a share, compared with a profit of $51.5 million, or 94 cents a share, from a year ago. Revenue rose to $1.28 billion.
The results easily topped Street estimates.
Nov 20 · 1:10:00 PM · Source: Company News Release
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by Larry Etter
Dell (DELL)
Dell Thursday night reported net income of $337 million, or 17 cents a share, in the quarter that ended on Oct. 30, down from $727 million, or 37 cents a share, it earned in the same period last year. Dell’s revenue fell to $12.9 billion from $15.16 billion,
Earnings and revenues missed Street estimates.
Nov 20 · 1:06:00 PM · Source: Company News
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by Larry Etter
AnnTaylor Stores Corporation (ANN)
New York-based retailer Ann Taylor said Friday it posted net income of $2.07 million or $0.03 per share for the third quarter, compared to a net loss of $13.45 million or $0.24 per share in the prior-year quarter. Net sales for the quarter dropped to $462.41 million from $527.22 million last year. Comparable-store sales decreased 13.7%.
Net sale missed Street estimate of $473.85 million.
Nov 20 · 1:01:00 PM · Source: Company News Release
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by Larry Etter
Valero Energy (VLO)
U.S. oil refiner Valero Energy said Friday it will permanently shut down its Delaware City, Delaware, refinery because of the weak economic conditions .
The U.S. refining sector has been hard hit this year as weak fuel demand due to the recession.
Nov 20 · 12:57:00 PM · Source: Company News Release
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by Larry Etter
Time Warner (TWX)
AOL plans to cut 2,500 jobs, a third of their work force as it prepares to spin off from Tine Warner next month.
AOL's legacy dial-up Internet access business has been fading for many years. It's business is profitable, but profits are declining.
Nov 19 · 3:20:00 PM · Source: Yahoo Finance
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by Rich Pike
Adobe Systems (ADBE)
CNET is reporting that Adobe Systems expects to cut 680 full-time employees, or about 9 percent of its global workforce, as the company tries to align costs in the face of lagging sales. In September, Adobe reported that its fiscal third-quarter profit fell 29 percent amid declining sales.
Sales are down 38% through the 3rd quarter of 2009 compared to 2008. Adobe currently has a PE of 38, which seems very high for a company whose sales are declining at that pace.
Nov 19 · 1:15:00 PM · Source: CNet
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by Rich Pike
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