Earnings season is winding to a close this week, but plenty of companies are still posting quarterly numbers. This morning though, a financial services merger took the controls from the second-quarter recaps.
(GE) GE Capital unit agreed to acquire
(HF) for $5.3 billion in cash. GE said that it would pay $53.75 for each share of Heller, well above Friday's close of $35.90. Heller's 52-week high is $40.78.
Earnings Reports & Warnings:
(ADBE) remains on track to meet its third-quarter pro forma earnings target, but the company said its revenue growth could be slowed by weaker-than-expected economic conditions affecting all of its product segments. The company plans to report third-quarter results on Sept. 13. Analysts expect the company to earn 28 cents a share in the quarter.
(HUM) posted second-quarter earnings of 15 cents a share, in line with the
Thomson Financial/First Call consensus estimate, and up from earnings of 11 cents a share in the year-ago quarter. The company cited higher premiums for the higher earnings, despite a drop in revenue, which fell 8% from the comparable period last year.
Television and radio station owner
(HTV) reported a decline of 42% in second quarter earnings Monday, citing the weak advertising market. The company earned 10 cents a share for the second quarter, compared with 17 cents a share in the year-ago period. Analysts expected income of 5 cents. Hearst-Argyle warned that third-quarter earnings would fall far short of current expectations.
(PZZA) earned 55 cents a share in the second quarter, up from 51 cents in the same quarter last year. Wall Street was looking for income of 49 cents. Revenue rose 3.3%.
(TOM) reported fiscal first quarter earnings of 10 cents a share this morning, beating the consensus estimate of 8 cents a share. The company also earned 10 cents a share in the year-ago quarter. Tommy Hilfiger said it expects to meet analysts' full-year earnings expectations of $1.60 a share.
(WMB) posted second-quarter income from continuing operations of $339.5 million, or 69 cents a diluted share, including 9 cents from the sale of convenience stores. Analysts expected the company to earn 54 cents. Williams earned $286.4 million, or 63 cents a share, in the same period a year ago. The company also raised its guidance for the full year.