Technology stocks will hog the spotlight this week when Apple, Yahoo, Microsoft, report quarterly earnings. Let's take a quick look at earnings of prime companies leading the rally at Wall Street for the week that lies ahead.
July 20
Medical devices manufacturer Boston Scientific Corp. (BSX) will publish second-quarter earnings report after the market closes on July 20, with analysts projecting earnings of $0.13 per share, on revenues of $2.05 billion. The Natick, Massachusetts-based company expects second-quarter GAAP net income to range between $0.07 and $0.13 per share. Excluding restructuring related charges and amortization expense, adjusted earnings is estimated to be in the range of $0.16 - $0.21 per share. Second-quarter net sales are anticipated to range from $1.960 billion to $2.080 billion.
For oilfield services provider Halliburton Co. (HAL), analysts are looking for earnings of $0.27 per share on revenues of $3.43 billion for the second quarter, which is due to be released before the market opens on July 20.
Auto parts supplier Johnson Controls Inc. (JCI) is expected to earn $0.19 per share for the third quarter, on revenues of $7.40 billion, according to the Street analysts. Meanwhile, the company expects to report significantly lower operating losses in the third quarter and positive earnings for the remainder of 2009.
Investment management firm Legg Mason Inc. (LM) will also be on focus, as analysts polled by Thomson Reuters are expecting the company to post earnings of $0.22 per share on revenues of $612.34 million for the first quarter, which is slated to be reported at 4:00pm ET. Analysts' estimates typically exclude special items.
Technology investors will be checking up on shares of the world's second largest maker of mobile phone chips Texas Instruments Inc. (TXN) during the day, ahead of the chip maker's second-quarter earnings report after the market close. Wall Street analysts forecast earnings of $0.18 per share on revenues of $2.41 billion, down from $0.44 per share and revenues of $3.35 billion reported last year as the rough-and-tumble economic stance led consumers and businesses to curb on technology spending.
Last month, Texas Instruments boosted its second-quarter earnings and revenue guidance to $0.14 - $0.22 per share, and $2.30 billion - $2.50 billion, respectively, signaling a ray of hope that the recovery in the semis may be for real. Earlier, the company had expected earnings in the range of $0.01 - $0.15 per share and revenues of $1.95 billion - $2.4 billion.
The earnings platter on Monday will also encompass report cards from games and toys maker Hasbro Inc. (HAS), diversified industrial manufacturer Eaton (ETN), bank holding company M&T Bank Corp. (MTB) and more...
July 21 Tuesday
Construction and mining equipment maker Caterpillar Inc. (CAT) will cater second-quarter results at 7:30 am ET on July 21. Wall Street analysts have a consensus earnings estimate of $0.22 per share, on revenues of $8.86 billion. In mid-April, the Peoria, Illinois-based company said it currently expects profit of about $1.25 per share, excluding redundancy costs for fiscal 2009. Earlier to this, the company had expected profit of $2.50 per share, excluding redundancy costs, and sales and revenues in a range of plus or minus 10% from $40 billion.
Dow component Merck & Co. Inc. (MRK) will also report its second-quarter results on July 21, with analysts expecting earnings of $0.77 per share, on revenues of $5.85 billion. This compares to the year-ago earnings of $1.18 per share and revenues of $16.4 billion. While releasing first-quarter numbers, the healthcare giant said it continued to expect 2009 non-GAAP earnings per share in the range of $3.15 - $3.30, excluding certain items. However, the company lowered its fiscal 2009 GAAP earnings per share outlook to $2.84 - $3.09 from prior range of $2.95 - $3.17 per share, due to costs related to the proposed merger with Schering-Plough.
From a Dow confrere Southwest Airlines Co. (LUV), a passenger airliner, analysts are expecting earnings of $0.07 per share and revenues of $2.61 billion for the second quarter. The results are slated to be released on July 21. While announcing first-quarter results, the company said it currently expects another year-over-year decline in operating unit revenues for the second quarter, based on revenue and booking trends thus far.
Beverages giant Coca-Cola Co. (KO) will put out second-quarter results, with analysts expecting earnings of $0.89 per share, on revenues of $8.66 billion, for the quarter. This compares to the previous year's non-GAAP earnings of $1.01 per share and net operating revenues of $9.05 billion.
Diversified technology company United Technologies Corp. (UTX) will release second-quarter scorecard before the market opens on July 21, with the Street projecting earnings of $1.04 per share on revenues of $13.92 billion. In the year-ago quarter, the company reported earnings of $1.32 per share on revenues of $15.7 billion. In mid-June, United Technologies reaffirmed its fiscal 2009 earnings in the range of $4.00 - $4.50 per share and revenues of about $55 billion.
From Apple Inc. (AAPL), which launched its third-generation iPhone 3GS in mid-June and slashed the price of the previous model to $99, analysts are expecting earnings of $1.16 per share on revenues of $8.18 billion for the third quarter. The highly anticipated results are due to be released after the market closes on July 21. While releasing second-quarter results, Apple said it expects third-quarter earnings to range between $0.95 and $1.00 per share on revenue in range of about $7.7 billion - $7.9 billion.
Yahoo Inc. (YHOO) will sign in from the Internet sector, with second-quarter results to be released after the market closes on July 21. Wall Street analysts have a consensus earnings estimate of $0.08 per share on revenues of $1.14 billion for the quarter. In the prior-year period, the company posted non-GAAP earnings of $0.10 per share on revenues of $1.79 billion. While reporting first-quarter results, Yahoo said it expects second-quarter revenue to range between $1.425 billion and $1.625 billion, which includes traffic acquisition costs.
Tuesday's earnings slate also includes Chemicals maker EI DuPont de Nemours & Co. (DD), aerospace and defense major Lockheed Martin (LMT), drug maker Schering-Plough (SGP), world's largest specialty coffee retailer Starbucks (SBUX).
July 22
Novartis rival drug maker Pfizer (PFE) will publicize second-quarter numbers before the market opens on July 22, with analysts forecasting earnings of $0.48 per share, on revenues of $11.28 billion for the quarter. In the year-earlier quarter, the company reported adjusted earnings of $0.55 per share on revenues of $12.1 billion.
While releasing first-quarter figures, the company lowered its fiscal 2009 forecast for earnings per share to $1.20-$1.35 from the prior range of $1.34 - $1.49, due to costs associated with its upcoming merger with Wyeth. However, the company reiterated its outlook for adjusted earnings for the year to range between $1.85 and $1.95 per share. Moreover, Pfizer also reaffirmed its full-year revenues outlook in the range of $44 billion to $46 billion.
Aerospace giant Boeing Co. (BA) will air second-quarter results at 7:30 am ET on July 22. Wall Street analysts have a consensus earnings estimate of $1.21 per share on revenues of $17.15 billion, higher than the previous year's earnings of $1.16 per share and revenues of $17.0 billion.
Wednesday's earnings schedule holds many important names, including most expected S&P 500 companies, such as financial services giant Bank of New York Mellon Corp. (BK), online auction titan eBay (EBAY), drug maker Eli Lilly (LLY), biotechnology company Genzyme Corp. (GENZ), real estate investment trust Host Hotels & Resorts Inc. (HST), KeyCorp (KEY), the holding company of KeyBank National Association, investment management and banking solutions provider Northern Trust (NTRS), food and beverage giant PepsiCo (PEP), chip maker Qualcomm Inc. (QCOM), financial holding company U.S. Bancorp (USB), financial service provider Wells Fargo & Co. (WFC), drug major GlaxoSmithKline (GSK) and home appliances company Whirlpool Corp. (WHR).
July 23
Diversified technology company 3M Co. (MMM) will dole out second-quarter results on July 23, with analysts expecting earnings of $0.94 per share on revenues of $5.41 billion for the quarter. Earlier on April 24, the company had lowered its 2009 earnings and sales expectations for the second time, citing the global economic uncertainty.
American Express Co. (AXP), a financial services company, will release second-quarter financial results after the market closes. Analysts are looking for earnings of $0.26 per share, on revenues of $6.29 billion. The company now forecasts earnings for fiscal year 2009, excluding items, to range between $3.90 and $4.30 per share, lower than the previous target range of $4.30 - $4.70 per share.
For the quarter that saw telecommunications giant AT&T (T) selling iPhone 3G starting at $99 for new and qualifying subscribers, analysts are expecting earnings of $0.51 per share, on revenues of $30.69 billion. The results are slated to be issued before the market opens.
Railroad operator Burlington Northern Santa Fe Corp. (BNI) will let off steam by releasing second-quarter numbers at 4:00 pm ET, with analysts forecasting earnings of $1.01 per share on revenues of $3.43 billion, while Union Pacific (UNP) is expected to report earnings of $0.75 per share on revenues of $3.51 billion for the second quarter. UNP's results are due to be announced before the market opens on July 23.
Food-service retailer McDonald's Corp. (MCD), one of the Dow components, is set to report second-quarter results before the market opens on July 23. Analysts expect the company to post earnings per share of $0.97 on revenues of $5.72 billion for the quarter.
Microsoft (MSFT) will log in from the software sector after the market closes, to release its second-quarter score card, with analysts expecting earnings of $0.36 per share on revenues of $14.37 billion. In April, at the time of third-quarter announcement, Microsoft didn't provide a forecast for the fourth quarter, but Chris Liddell, chief financial officer at Microsoft had said that the company 'expects the weakness to continue through at least the next quarter.
Package delivery giant United Parcel Service Inc. (UPS) will deliver second-quarter report card on July 23, with analysts forecasting earnings of $0.49 per share on revenues of $11.02 billion.
Amazon.com Inc. (AMZN), Bristol-Myers Squibb (BMY), Danaher (DHR), Kimberly-Clark (KMB), Raytheon (RTN), Safeway Inc. (SWY), Hershey Co. (HSY), Wyeth (WYE), Xerox Corp. (XRX), Philip Morris International (PM), Credit Suisse Group (CS) are among other major companies to tag along with the Dow bellwethers to release their quarterly results on the busiest day of the week.
July 24
Power tools and accessories maker Black & Decker Corp. (BDK) is slated to issue its second quarter score card on July 24, with analysts estimating earnings of $0.37 per share on revenues of $1.19 billion for the quarter. In mid-April, the company said it expects second-quarter earnings to range between $0.35 and $0.45 per share. For fiscal 2009, Black & Decker forecasts earnings in the range of $1.36 - $1.76 per share. Excluding the impact of the first-quarter restructuring charge of $0.14 per share, the company now expects earnings in the range of $1.50 - $1.90 per share, compared to the earlier issued forecast of $1.75 - $2.25 per share.
Industrial products and components maker Dover Corp (DOV) will announce its second-quarter figures at 7:00 am on July 24. Wall Street analysts have a consensus earnings estimate of $0.46 per share on revenues of $1.46 billion. For fiscal 2009, Dover expects earnings per share to be in the range of $2.00 - $2.30.
Oilfield services company Schlumberger (SLB) is scheduled to report its second quarter results on July 24, with analysts expecting earnings of $0.63 per share, on revenues of $5.46 billion.
Friday's light earnings schedule includes Arch Coal Inc. (ACI), Ingersoll-Rand Co. Ltd. (IR), Syngenta (SYT), Telefon AB LM Ericsson (ERIC), global investment management organization T. Rowe Price (TROW) and Wilmington Trust (WL).
Stay tuned to RTTNews to get a quick peek at the much-anticipated quarterly results within seconds of reporting.
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