SITE SEARCH | NEWS | EARNINGS | CALENDARS | MUTUAL FUNDS
Sector Tables: Energy - Retail - Utilities - REIT - Banks - Brokerage - ETFs | Oil Data
Login | Subscribe to Ticker
Market Update Analysis: 
Mexico Down 1.4%
Author: Elena Todorova
123jump.com
Last Update: 2:01 PM EST February 28 2006


(Continued)

Email article | Print article

Stocks moved further lower after CFO of Google reported that growth at the Internet search giant is slowing down. Concerns over inflation and further interest-rate hikes also weighed on sentiment. The second reading of Q4 GDP showing faster economic growth, renewed concerns over inflation and further interest-rate hikes. Consumer confidence index fell to 101.7 in February. Existing home sales in January fell 2.8% to a seasonally adjusted annual rate of 6.56 million units.

 
Astec Industries Inc, (ASTE: chart), road building equipment maker, reported that Q4 net income climbed to $1.02 million, or 5 cents a share, up from $268,000 in the year-ago quarter. Revenue in Q4 jumped 21% to $134.5 million. The company stated that Q4 showed seasonal weakness, but added the work backlog is considerably higher than last year. Astec also made it clear that, during its annual audit, it identified significant internal control deficiencies related to inventory controls and accounting system access controls. Despite the weaknesses, the company remains confident in the reliability of its financial statement.

H.J. Heinz Co (HNZ: chart), maker of sauces, condiments and packaged foods, reported Q3 net income of 35 cents a share,. down from 43 cents in the same period last year. Quarterly sales shot up 5.7% to nearly $2.19 billion, from $2.07 billion, but gross profit dropped to $780.7 million from $784.7 million. Sales grew 9.4% on a constant-currency basis. Earnings from continuing operations, aside from special items, would have been 50 cents.The company missed analysts view for earnings of 56 cents a share.

Innkeepers USA Trust (KPA: chart), real estate investment trust, reported a Q4 breakeven on a per-share basis, up from a loss of 6 cents a share, a year earlier. Funds from operations grew to 21 cents a share from 15 cents a year ago. The company missed analysts’ estimates for earnings of 23 cents a share. Revenue increased to $60.9 million from $50.5 million.

Staples Inc (SPLS: chart), office products retailer, reported Q4 earnings of 39 cents a share, up from a profit of 33 cents a share a year-ago on sales and 3% same-store sales growth in Q4, topping analyst estimate by a penny.
  1  2  3 More: Market Update Archive

 

 
About Us | Contact Us | Privacy Policy | Disclaimer

©1999-2008 123jump.com. All rights reserved