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Worthington Earnings Soar
Mar 22, 12:27 AM EDT |
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| Worthington repurchased 2.27 million shares in the quarter and paid out $13.9 million in dividend. |
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| Wothington Industries Inc, a diversified steel processor with a market of $1 billion, reported third quarter revenue increase of 7% to $725.7 million, earnings surge of 245% to $18.3 million and earnings per share increased 283% to 23 cent. For the nine months, sales increaesed 1% and earnings declined 30% and earnings per share 27%. |
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Carnival Lowers Guidance, Rising Fuel Costs
Mar 21, 6:06 PM EDT |
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| Carnival managed to carry 1.9 million passengers in the first fiscal 2008 quarter, 150,000 more than a year ago, despite economic slow down. |
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| Carnival Corp, the largest cruise liner reported first quarter 2008 revenue increase of 17% to $3.15 billion and net income decline of 17% to $236 million. Earnings per share declined to 30 cents compared to 35 cents a year ago. Carnival lowered its earnings guidance to between 42 cents and 44 cents from 48 cents in the second quarter. Higher fuel costs are taking a big bite out of the rising berth yields on weak dollar. |
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China Mobile Earnings Up 32%
Mar 21, 12:04 AM EDT |
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| China Mobile reported 2007 revenue rise of 21% and earnings gain of 32% as it adds new subscribers in rural China. |
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| The largest mobile phone carrier in the world reported 21% increase in revenue to Rmb 356 billion ($50 billion) after it added 5.7 million new subscribers a month in 2007. The company increased its market share to 69% in 2007 from 68% in 2006 as it added subscribers in the rural area. Monthly churn rate in 2007 fell to 2.64% from 2.73% in 2006. China Mobile plans to spend Rmb 127 billion in network infrastructure in 2008 and Rmb 119 billion in 2009. China Mobile has 384 million subscribers. |
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PetroChina Earnings Disappoint
Mar 19, 7:04 PM EDT |
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| PetroChina stock traded near its low after the release of its earnings. PetroChina has lost 52% in New York from its peak in October and 30% in HK. |
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| PetroChina reported 2007 earnings rise of 2.4% to Rmb 145 billion on sales increase of 21.2% to Rmb 835 billion. Higher exploration and refining and marketing costs hurt the operating margins. Earnings per share declined to Rmb 0.75 from Rmb 0.76. Return on net asset declined to 19.9% from 25.2%. CNPC controls 86.3% of stock and individual investors hold 13.7%. |
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Morgan Stanley Net Falls
Mar 19, 4:49 PM EDT |
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| Morgan Stanley stock rose 5% after it reported lower earnings but beat the analysts estimates. |
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| Morgan Stanley reported revenue decline of 17% to $8.3 billion and earnings fall of 35% to $1.55 billion. Earnings per share declined to $1.45 from $2.17 in the first quarter of previous fiscal year. In the quarter Morgan wrote down $1.1 billion of sub-prime loans. Asset management group reported 5% increase in assets to $722 billion. Average broker at Morgan had $85 million of client assets and generated $761,000 in commissions. |
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Goldman Sachs Earnings Lift Stocks
Mar 18, 12:40 AM EDT |
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| Goldman Sachs reported lower revenue and earnings but still beat the expectations set by analysts. Higher fund flows to asset managements helped. |
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| Goldman Sachs reported first quarter revenue decline of 35% to $8.34 billion and net income fell 53% to $1.47 billion. Weaknesses were in investment banking and trading gains using its own capital. Asset management and trading execution revenue edged higher on rising net fund flows. |
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Lehman Net Declines 57%
Mar 18, 12:40 AM EDT |
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| Lehman asserted that it has $34 billion in liquid pool of assets, $64 billion in unencumbered assets and $99 billion at regulated entities. |
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| Lehman Brothers reported a decline in revenue of 31% to $3.5 billion and net income fall of 57% to $489 million. Earnings per share declined to 81 cents from $1.96 a year ago. Steady rise in asset management, equity offering fees and prime brokerage services helped the bank to overcome losses in fixed income related revenues. Lehman has been a subject of intense speculation in the last few days after a sudden demise of Bear Stearns as it lacked liquidity. |
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Superior Well Earnings Down 28%
Mar 13, 12:17 AM EDT |
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| Superior Well Services reported a drop in in earnings in the fourth quarter on the rising revenue from the well services. |
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| Superior Well Services reported fourth quarter revenue increased 26% to $94.9 million and net income fell 28% $7 million. For the year 2007 revenue increased 43% to $350.8 million and earnings increased 19% to $37.8 million. Superior stock in the last 52 weeks has traded between $17 and $28. |
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Earnings: Global Source, IDT, Princeton Review
Mar 12, 12:05 AM EDT |
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| Global Source rebounded after it reported a decline in earnings. IDT fell 30% after it reported wider loss than a year ago. |
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| Global Source, B2B media company in China, revenue rose 16% to $60.8 million and net income declined 50% to $8.1 million. IDT Corp revenue in the fourth quarter declined 6% to $476 million. The Princeton Review revenue in the fourth quarter rose 7%. |
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Earnings: J Crew, Payless, Stage Stores
Mar 12, 11:36 PM EDT |
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| Retailers reported declining sales and earnings in the fourth quarter. Collective Brands, J Crew and Stage Stores sales and earnings declined. |
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| Collective Brands, operator of Payless ShoeSource reported fourth quarter loss of $46.6 million compared to a profit of $24.6 million. J Crew apparel retailer reported net income of $25 million compared to $44 million a year ago. Stage Stores reported fourth quarter sales declined 4% to $473 million. |
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