After a several weeks of combat in the financial Armageddon, the Wall Street seems ready to catch its forty winks. Earnings action will be dexterous with a batch of retailers including Wal-Mart Stores, Sony, MBIA, Urban Outfitters, Macy's, and Abercrombie & Fitch set to blazon out quarterly results this week.
May 11
Satellite-delivered digital television services provider Dish Network Corp. (DISH) is likely to dish out first-quarter results on May 11, with analysts forecasting earnings of $0.57 per share on revenues of $2.90 billion. In the year-ago period, the company posted basic earnings of $0.58 per share on revenues of $2.8 billion.
Engineering and construction firm Fluor Corp. (FLR) is slated to release first-quarter results after market closes on May 11. Analysts are projecting earnings of $0.93 per share on revenues of $5.76 billion for the quarter. Earnings for the year-earlier quarter were $1.50 per share on revenues of $4.8 billion. While releasing fourth-quarter results, Fluor reiterated its previously communicated 2009 earnings forecast of $3.90 - $4.20 per share.
From Drug maker King Pharmaceuticals Inc. (KG), which is scheduled to report first-quarter results before market opens on May 11, analysts are forecasting earnings of $0.12 per share on revenues of $450.81 million. In the year-ago period, the company earned $0.36 per share on revenues of $432 million.
Ambac Financial Group Inc. (ABK), a provider of financial guarantee products and services, is due to issue first-quarter results at 08:30 am ET on May 11, with analysts expecting a loss of $0.93 per share on revenues of $298.80 million. In the year-ago period, the company incurred a loss of $11.69 per share.
The Houston, Texas-based engineering and construction firm McDermott International Inc. (MDR) will spew first-quarter results on May 11, with analysts expecting earnings of $0.29 per share on revenues of $1.54 billion. In the year-earlier quarter, the company posted earnings of $0.54 per share on revenues of $1.45 billion.
Coeur d'Alene Mines Corp. (CDE), StatoilHydro ASA (STO), Silver Wheaton Corp. (SLW), Southern Union Co. (SUG), PMI Group Inc. (PMI) are among other majors lined up to dole out quarter results on Monday.
May 12
System management solutions provider BMC Software Inc. (BMC) will check in from the software sector to issue fourth-quarter results after market closes on May 12, with analysts estimating earnings of $0.62 per share on revenues of $487.02 million. In the year-ago quarter, the company earned $0.50 per share on revenues of $1.73 billion. BMC currently projects fiscal 2009 non-GAAP earnings to range between $2.20 and $2.30 per share, versus the prior outlook range of $2.15 - $2.25 per share.
The Armonk, New York-based MBIA Inc. (MBI) plans to announce first-quarter results on May 12, with analysts expecting a loss of $0.33 per share on revenues of $322.72 million. In the prior year period, the company incurred a loss of $13.03 per share on revenues of $711.4 million.
Japanese electronics maker Hitachi Ltd. (HIT) is slated to release fourth-quarter report card on May 12. In the year-ago period, the company reported a loss of $0.18 per share on revenues of $112.3 billion. While reporting third-quarter results, Hitachi said it maintained its fiscal 2008 forecast of a net loss of 700 billion yen on revenues of 10.02 trillion yen.
May 13
CA Inc. (CA), formerly known as Computer Associates International Inc., will issue forth fourth-quarter results at 4:30 pm ET on May 13, with Wall Street analysts having a consensus earnings estimate of $0.29 per share on revenues of $1.03 billion.
The Islandia, New York-based the company now expects 2009 earnings to range between $1.29 and $1.40 per share, non-GAAP earnings of $1.48 - $1.57 per share, and revenue of $4.23 billion - $4.31 billion. Earlier, CA expected earnings of $1.31 - $1.38 per share, non-GAAP earnings of $1.48 - $1.55 per share, and revenue of about $4.3 billion.
Beverages maker Dr Pepper Snapple Group, Inc. (DPS) is due to pour out first-quarter results before market opens on May 13, with analysts forecasting earnings of $0.29 per share on revenues of $1.25 billion. In the year-ago period, the company reported pro forma earnings of $0.38 per basic share on net sales of $1.31 billion. The Plano, Texas-based Dr Pepper Snapple expects fiscal 2009 earnings to be in the range of $1.71 - $1.79 per share, and adjusted earnings of about $1.59 - $1.67 per share. Full-year net sales are projected to decline 2% - 4%.
Department stores operator Macy's Inc. (M) plans to mete out first-quarter results on May 13, with analysts expecting the company to report a loss of $0.23 per share on revenues of $5.23 billion. In the year-earlier period, the company posted a loss of $0.14 per share on sales of $5.75 billion.
Most recently, the company warned that it would incur a first-quarter loss of $0.19 - $0.21 per share, excluding restructuring-related costs. Also, Macy's reaffirmed its fiscal 2009 adjusted earnings outlook in a range of $0.40-$0.55 per share. The company added that it expects to exceed the full year earnings forecast if the economy improves in the second half of the year.
Telefonica SA (TEF), Gammon Gold Inc. (GRS), ING Groep NV (ING), Nippon Telegraph & Telephone Corp. (NTT) and more are slated to report quarterly results on Wednesday.
May 14
Electronics testing equipment maker Agilent Technologies Inc. (A) is due to issue second-quarter progress card on May 14, with analysts forecasting earnings of $0.14 per share on revenues of $1.09 billion, lower than the previous year's earnings of $0.47 per share and revenues of $1.46 billion.
Recently, Agilent announced a major restructuring of its Electronic Measurement businesses in response to the "most severe global downturn in the company's history" and said it would eliminate about 2,700 employees at its Semiconductor & Board Test segment. Further, the company temporarily suspended its share repurchase program until the end of fiscal 2009.
Department stores operator Kohl's Corp. (KSS) will publicize first-quarter results on May 14, with analysts expecting earnings of $0.43 per share on revenues of $3.61 billion, lower than the previous year's earnings of $0.49 per share on net sales of $3.62 billion.
On April 7, the company boosted its first-quarter earnings forecast to a range of $0.43 - $0.44 per share, versus its prior outlook range of $0.27 - $0.34 per share. Earlier, Kohl's said it expects 2009 earnings to be in the range of $2.00 - $2.30 per share, based on assumptions of a total sales decrease of 1% - 4% and comparable store sales decline of 5% - 8%.
Japanese consumer electronics giant Sony Corp. (SNE) is likely to broadcast fourth-quarter results on May 14, with analysts expecting a loss of $2.09 per share on revenues of $15.95 billion. The company currently expects to incur a net loss of 150 billion yen for fiscal 2009.
Lifestyle specialty retailer Urban Outfitters Inc. (URBN) will hand out first-quarter results on May 14, with analysts projecting earnings of $0.17 per share on revenues of $392.28 million.
Retail giant Wal-Mart Stores Inc. (WMT), a Dow component, will issue forth first-quarter scorecard on May 14, with analysts forecasting earnings of $0.77 per share on revenues of $96.62 billion. In the year-ago period, the company earned $0.76 per share on net sales of $94.1 billion. For the first quarter, the retailer projects total net sales of about $93 billion, which includes an impact from currency exchange rates. While releasing March sales, the company had expected first-quarter reported earnings to range between $0.72 and $0.77 per share. The company sees full year reported earnings in the range of $3.45 - $3.60 per share.
Most recently, the company has reportedly revised a planned restructuring of its China-based operations and management following objections by government-run trade unions. In mid-April, Wal-Mart reportedly said that it plans to trim management positions, involving 1,400 or about 2.5%, of its employees in China. The company's plans included pay cuts, relocation to other stores or possible job losses for the affected employees.
Blockbuster Inc. (BBI), IAMGOLD Corp. (IAG), National Grid Plc (NGG) and Compuware Corp. (CPWR) will be among others to roll out their quarterly results on Thursday.
May 15
Casual apparel retailer Abercrombie & Fitch Co. (ANF) is slated to report first-quarter results before market opens on May 15. Analysts expect the company to report a loss of $0.13 per share on revenues of $620.89 million for the quarter. In the year-ago quarter, the company posted earnings of $0.69 per share on net sales of $800.2 million.
Gold miner AngloGold Ashanti Ltd. (AU) will release first-quarter results and Japanese electronics maker Panasonic Corp. (PC) plans to broadcast fourth-quarter results on Friday.
Stay tuned to RTTNews to watch the flowers and weeds of the companies in full bloom this week.
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