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PORTFOLIO NEWS Wednesday, August 27, 2008 -
Charming Shoppes, Inc. today reported sales and operating results for
the second quarter ended August 2, 2008. The Company today also
provided its initial earnings outlook for the second half ending
January 31, 2009. Thursday, August 21, 2008 -
The First Marblehead Corporation today announced its financial and
operating results for the fourth quarter of fiscal 2008 and for the
fiscal year ended June 30, 2008. For the fiscal year ended June 30,
2008, the company recorded a net loss of $235.1 million or $2.46 per
diluted share compared to net income of $371.3 million or $3.92 per
diluted share for the fiscal year ended June 30, 2007. Monday, August 18, 2008 -
Lowe's Companies, Inc. today reported net earnings of $938 million
for the quarter ended August 1, 2008, a 7.9 percent decline from
the same period a year ago. Diluted earnings per share declined
4.5 percent to $0.64 from $0.67 in the second quarter of 2007.
For the six months ended August 1, 2008, net earnings declined
12.1 percent to $1.54 billion while diluted earnings per share
declined 8.7 percent to $1.05. Thursday, August 14, 2008 -
JPMorgan Chase to Settle with State Securities Regulators and Offer
to Purchase Certain Customers' Auction Rate Securities. Thursday, August 14, 2008 -
Wal-Mart Stores, Inc. today reported its sales and earnings for the
quarter ended July 31, 2008. Net sales for the second quarter of
fiscal year 2009 were approximately $101.6 billion, an increase of
10.4 percent from $92.0 billion in the second quarter last year. Thursday, August 7, 2008 -
Maxim Integrated Products, Inc. reported net revenue of $501.3
million for its fiscal 2008 fourth quarter ending June 28, 2008.
This is a 2.8% increase from the $487.4 million revenue recorded in
the previous quarter and is a 1.6% increase over the normalized
revenue of the 14 week quarter from a year ago. Thursday, August 7, 2008 -
The DIRECTV Group, Inc. today reported that second quarter 2008
revenues increased 16% to $4.81 billion, operating profit before
depreciation and amortization increased 20% to $1.36 billion and
operating profit increased 8% to $801 million compared to last
year’s second quarter. The DIRECTV Group reported that second
quarter net income of $455 million increased 2% and earnings per
share increased 8% to $0.40 compared with the same period last
year. Wednesday, August 6, 2008 -
American International Group, Inc. today reported a net loss for the
second quarter of 2008 of $5.36 billion or $2.06 per diluted share
compared to 2007 second quarter net income of $4.28 billion or $1.64
per diluted share. Second quarter 2008 adjusted net loss, as defined
below, was $1.32 billion or $0.51 per diluted share, compared to
adjusted net income of $4.63 billion or $1.77 per diluted share for
the second quarter of 2007. The continuation of the weak U.S. housing
market and disruption in the credit markets, as well as global equity
market volatility, had a substantial adverse effect on AIG’s results
in the second quarter. Wednesday, August 6, 2008 -
Noven Reports Quarterly EPS of $0.18, Adjusted EPS of $0.23. Quarterly
Net Income at Novogyne Joint Venture Increases 34% to $25.4 Million. Wednesday, August 6, 2008 -
Time Warner Inc. today reported financial results for its second
quarter ended June 30, 2008. In the quarter, Revenues climbed 5% over
the same period in 2007 to $11.6 billion, led by increases at the
Filmed Entertainment, Cable and Networks segments. Adjusted Operating
Income before Depreciation and Amortization rose 4% to $3.2 billion.
Growth at the Cable, Networks and Filmed Entertainment segments more
than offset declines at the AOL and Publishing segments. Operating
Income was up 1% to $1.9 billion. Tuesday, August 5, 2008 -
Cisco today reported its fourth quarter and fiscal year results for
the period ended July 26, 2008. Cisco reported fourth quarter net
sales of $10.4 billion, net income on a generally accepted
accounting principles (GAAP) basis of $2.0 billion or $0.33 per
share, and non-GAAP net income of $2.4 billion or $0.40 per
share. Monday, August 4, 2008 -
Cooper Tire & Rubber Company (NYSE: CTB - News) today reported a
net loss of $22 million, or 38 cents per share, for the quarter
ended June 30, 2008. Net sales for the period were a record $773
million, an increase of $43 million over the prior year. The
increased revenues were driven by pricing and improved mix
partially offset by decreased tire unit volumes in North America.
As with many manufacturing companies, Cooper faced intense
challenges during the quarter that adversely affected operating
results. Thursday, July 31, 2008 -
Magellan Health Services, Inc. today reported net income of
$21.9 million, or $.54 per diluted common share, and segment
profit of $55.4 million for the second quarter of fiscal year
2008. The Company also announced that its Board of Directors
has authorized a share repurchase program, to be completed
over the next 18 months, under which the Company may purchase
up to $200 million of its outstanding common stock. In
addition, on the basis of its second quarter performance,
the Company now expects that it will end the year in the upper
half of its previous guidance range of earnings per diluted
common share of $1.73 to $2.17. Thursday, July 31, 2008 -
Sanofi-Aventis announces solid growth in the second quarter
-- Net sales: euro 6,689m, up 5.2% on a comparable basis. Thursday, July 31, 2008 -
Winn-Dixie Stores, Inc. today announced preliminary financial
results for the fiscal year and fourth quarter ended June
25, 2008. For the 2008 fiscal year, the Company expects
Adjusted EBITDA to be approximately $101 million, an
increase of approximately 57% compared to $64.5 million in
Adjusted EBITDA in the prior year. Identical store sales for
the fiscal year increased by 0.9%. Wednesday, July 30, 2008 -
Armstrong World Industries, Inc. today reported second quarter 2008
net sales of $926.8 million, up one percent, from $920.6 million in
the same period for 2007. Excluding a $34 million, or four percent,
benefit from foreign exchange rates, sales decreased three percent.
Reported operating income from continuing operations increased to
$96.7 million from $94.2 million in the second quarter of 2007. Tuesday, July 29, 2008 -
Quantum Corp. today announced that revenue for its fiscal first
quarter (FQ1'09), ended June 30, 2008, was $222 million. Although
this represented a 10 percent decline from the same period last
year (FQ1'08), the company's non-royalty branded revenue grew by 3
percent. Tuesday, July 29, 2008 -
NCR Corporation reported financial results today for the three
months ended June 30, 2008. Reported revenue of $1.33 billion
increased 13 percent over the second quarter of 2007 and included
approximately 5 percentage points of benefit from foreign currency
translation. Friday, July 25, 2008 -
East West Bancorp Announces Preliminary Second Quarter 2008
Financial Results with Total Revenues of $105.6 Million, EPS
Guidance of $1.35 to $1.40 for 2009 and $0.19 to $0.23 for Rest
of 2008 and Total Risk-Based Capital Reaching 13.01%. Wednesday, July 23, 2008 -
Pfizer Inc today reported financial results for the second-quarter
2008. The Company recorded revenues of $12.1 billion, an increase of
9% compared with $11.1 billion in the year-ago quarter. In the U.S.,
revenues were $4.8 billion, a decrease of 2%, while international
revenues were $7.4 billion, an increase of 18%. Revenues reflect the
positive impact of foreign exchange, which increased revenues by
approximately $800 million or 7%, as well as the solid performance
of many key products. Tuesday, July 22, 2008 -
Imation Corp. today released financial results for the second
quarter ended June 30, 2008. Monday, July 21, 2008 -
Schering-Plough Corporation today reported financial results for
the second quarter of 2008. Thursday, July 17, 2008 -
Microsoft Corp. today announced revenue of $15.84 billion for the
fiscal fourth quarter ended June 30, 2008, an 18% increase over the
same period of the prior year. Operating income and diluted earnings
per share for the quarter were $5.68 billion and $0.46, representing
growth of 42% and 48%, respectively, over the same period of the
prior year. Thursday, July 17, 2008 -
Capital One Financial Corporation today
announced earnings for the second quarter of 2008 were $452.9
million, or $1.21 per share (diluted). Earnings from continuing
operations in the second quarter of 2008 were $462.5 million, or
$1.24 per share. In the second quarter of 2007, the company
reported earnings of $750.4 million, or $1.89 per share (diluted),
and earnings from continuing operations of $767.6 million, or $1.93
per share (diluted). Thursday, July 17, 2008 -
Nokia Corp. announces second quarter 2008 operating results. Wednesday, July 16, 2008 -
eBay Inc. today reported financial results for its second quarter
ended June 30, 2008. The ecommerce company posted second quarter
revenue of $2.20 billion, up $361 million from the same period last
year. Net income on a GAAP basis was $460 million, or $0.35 per
diluted share, and non-GAAP net income was $568 million, or $0.43
per diluted share. Wednesday, July 9, 2008 -
Acergy S.A. announced today unaudited results for the second quarter
which ended on May 31, 2008. Wednesday, July 2, 2008 -
Spectrum Control, Inc. today reported results for the second
quarter ended May 31, 2008.For the second quarter of fiscal 2008,
the Company reported net income of $2.2 million or 16 cents per
share on sales of $32.6 million, compared to net income of $2.8
million or 21 cents per share (20 cents diluted) on sales of $33.6
million for the same period last year. For the first half of fiscal
2008, the Company had net income of $4.0 million or 30 cents per
share (29 cents diluted) on sales of $63.7 million. For the
comparable period of 2007, the Company had net income of $4.9
million or 37 cents per share (36 cents diluted) on sales of $66.4
million. Wednesday, May 21, 2008 -
Time Warner Inc. and Time Warner Cable Inc. today announced that
their respective boards of directors have approved an agreement
that will result in the complete legal and structural separation of
the two companies. Wednesday, May 21, 2008 -
Charming Shoppes, Inc. today reported sales and operating results
for the first quarter ended May 3, 2008. The Company today also
provided its initial earnings outlook for the second fiscal quarter
ending August 2, 2008. Tuesday, May 20, 2008 -
Wilsons The Leather Experts Inc. today announced results for the
quarter ended May 3, 2008. Net sales decreased 14.0% to $36.4
million compared to $42.4 million for the same period last year.
Sales related to the 163 stores that closed during the first
quarter of 2008 are reported as discontinued operations. Thursday, May 15, 2008 -
Quantum Corp. today announced that revenue for its fiscal fourth
quarter, ended March 31, 2008, was $229 million and that revenue
for the full fiscal year 2008 was approximately $976 million,
representing respective declines of 17 percent and 4 percent over
the comparable periods for fiscal year 2007. Monday, May 12, 2008 -
Sprint Nextel Corp. today reported first quarter 2008 financial
results. Consolidated net operating revenues for the quarter
were $9.3 billion, an 8% decline compared to $10.1 billion
reported in the first quarter of 2007 and a 5% decline compared
to $9.8 billion in the fourth quarter. Reported diluted loss per
share was 18 cents compared to a 7 cent loss in the year-ago
period and a loss of $10.28 per share in the fourth quarter of
2007. Monday, May 12, 2008 -
Winn-Dixie Stores, Inc. today reported its financial results for
the third quarter of fiscal 2008, the 12-week period that ended
on April 2, 2008. Thursday, May 8, 2008 -
American International Group,Inc. today reported that the
continuation of the weak U.S. housing market, the disruption in
the credit markets, as well as equity market volatility, had a
substantial adverse effect on its results for the first quarter
ended March 31, 2008. These factors were primarily responsible
for AIG incurring a net loss for the first quarter of 2008 of
$7.81 billion or $3.09 per diluted share. Wednesday, May 7, 2008 - Clearwire
Corporation and Sprint Nextel Corporation today announced that they have entered
into a definitive agreement to combine their next-generation wireless broadband
businesses to form a new wireless communications company. Wednesday, May 7, 2008 The DIRECTV Group, Inc. today
reported that first quarter 2008 revenues increased 17% to $4.59 billion,
operating profit before depreciation and amortization1
(OPBDA) increased 27% to $1.18 billion and operating profit increased 17% to
$657 million compared to last year’s first quarter.
The DIRECTV Group reported that first quarter net income of $371 million
increased 10% and earnings per share increased 19% to $0.32 compared with the
same period last year. Wednesday, May 7, 2008 - Cooper Tire
& Rubber Company today reported net income of $2 million, or 3 cents per share,
for the quarter ended March 31, 2008. Net sales for the period were $679
million, an increase of $10 million over the prior year. The increased revenues
were driven by volumes in the International segment. As with many North American
based manufacturing companies, Cooper faced challenges during the quarter that
adversely affected operating results. These challenges included increased raw
material costs, increased products liability costs, and decreased volumes in
North America. Wednesday, May 7, 2008 - NCR
Corporation reported financial results today for the three months ended March
31, 2008. Reported revenue of $1.18 billion from continuing operations increased
19 percent over the first quarter of 2007 and included approximately 6
percentage points of benefit from foreign currency translation. Tuesday, May 6, 2008 - Barrick Gold Corporation
reported first quarter net income of $514 million ($0.59 per share) and
operating cash flow of $728 million ($0.83 per share) compared to a net loss of
$159 million ($0.18 per share) and operating cash flow of $163 million ($0.19
per share) in the prior year period. Reported net income rose 29% compared to
prior year adjusted net income of $398 million ($0.46 per share)(1) and included
$29 million of post-tax special items that reduced income by $0.03 per share.
Adjusting for these special items, earnings of $0.62 per share are a Company
record. The realized gold price of $925 per ounce matched the average spot price
for the quarter. Friday, May 2, 2008 - Armstrong World
Industries, Inc. today reported first quarter 2008 net sales of $828.2 million,
down four percent, from $863.4 million in the same period for 2007. Excluding a
$28 million, or three percent, benefit from foreign exchange rates, sales
decreased seven percent. Reported operating income from continuing operations
decreased to $38.5 million from $65.5 million in the first quarter of 2007.
Adjusted operating income from continuing operations of $46.1 million decreased
30 percent compared to $66.1 million on the same basis. Friday, May 2, 2008 - Magellan Health
Services, Inc. today reported net income of $17.2 million, or $.43 per diluted
common share, and segment profit of $51.7 million for the first quarter of
fiscal year 2008. The Company also said that it now expects to generate net
income in the range of $71 million to $89 million, yielding earnings per diluted
common share in the range of $1.73 to $2.17, and segment profit in the range of
$205 million to $225 million for 2008. Wednesday, April 30, 2008 - Time
Warner Inc. today reported financial results for its first quarter ended March
31, 2008. In the quarter, revenues climbed 2% over the same period in 2007 to
$11.4 billion, led by increases at the Cable, Networks and Filmed Entertainment
segments. Wednesday, April 30, 2008 - Helix
Energy Solutions reported first quarter net income of $74.3 million, or $0.79
per diluted share, compared to $55.8 million, or $0.60 per diluted share
reported for the first quarter of 2007. Wednesday, April 30, 2008 -
Sanofi-aventis: Encouraging First-Quarter 2008 Results Further Positive Phase
III Results for Eplivanserin |
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