Ford, Verizon, Honeywell: Earnings Central

Ford beats estimates, while Honeywell raises outlook.
Author:
Publish date:

NEW YORK (

TheStreet

) --

Verizon (VZ) - Get Report, Honeywell (HW) and Ford (F) - Get Report are three of today's most notable earnings in this, TheStreet's rundown of the week's quarterly reports.

FRIDAY'S EARNINGS

Ford (F) - Get Report Drives Past Estimates

Revenue:

Revenue rose 17% to $31.3 billion. Excluding Volvo sales in 2009, revenue was up 30%.

Earnings:

Second-quarter net profit rose 15% to $2.6 billion from a year earlier. Earnings per share fell to 61 cents from 69 cents due to an increase in outstanding shares. Excluding items, earnings came in at 68 cents a share, blowing past estimates of 40 cents.

Outlook:

Ford lowered the top end of its range on expectations of a slower second half to 11.5 million to 12 million vehicles in the U.S. and 14.5 to 15 million vehicles in Europe.

Share performance:

The stock is up 3.6% at $12.51. See recent

Ford stock action

here.

Verizon (VZ) - Get Report Posts Loss on Severance Costs

Revenue:

Second-quarter revenues posted a 0.3% decline to $26.8 billion.

Earnings:

Verizon posted a loss of $198 million, or 7 cents a share, a swing from a year-earlier income of $1.48 billion, or 52 cents a share. Excluding severance charges, it posted a profit of 58 cents, beating Wall Street estimates of 56 cents.

Outlook:

The wireline spinoff to

Frontier

(FTR) - Get Report

is expected to improve growth.

Share performance:

The stock is up 3.7% at $28. See recent

Verizon stock action

here.

Honeywell (HON) - Get Report Raises Outlook

Revenue:

Rebounding demand for turbochargers and general industrial products drive revenues higher by 8% to $8.2 billion from $7.6 billion a year earlier.

Earnings:

Profits came in at 60 cents per share, flat on a year-on-year basis. Excluding items, earnings per share rose 24% to 78 cents compared with 63 cents a year earlier. Analysts were expecting 57 cents.

Outlook:

Honeywell raised its outlook, expecting 2010 sales of $32.4 billion to $32.9 billion, earnings in the range of $2.40 per share to $2.50 per share on a reported basis.

Share performance:

The stock is up 1.5% at $43.30 on Friday morning. See recent

Honeywell stock action

here.

Schlumberger (SLB) - Get ReportMeets Estimates

Revenue:

A 10% rise in oilfield-services revenue drove total revenues up 7.4% to $5.94 billion versus $5.53 billion in the year-ago quarter.

Earnings:

Second-quarter earnings rose to $818 million, or 68 cents per share. Analysts were expecting 68 cents on earnings of $5.9 billion.

Outlook:

Management sees a continued slow build of activity in the second half. It said it isn't planning any resumption of drilling activity in the deepwater Gulf of Mexico this year.

Share performance:

The stock is down 3.5% at $59.18 on Friday morning. See recent

Schlumberger stock action

here.

McDonald's (MCD) - Get Report Beats by a Penny

Revenue:

Strong same-store sales helped revenues rise 5% to $5.95 billion, higher than estimates.

Earnings:

Profits rose 13% to $1.23 billion, or $1.13 per share, beating estimates by a penny.

Outlook:

Management did not provide an outlook.

Share performance:

The stock is down 1.8% at $70.04 on Friday morning. See recent

McDonald's stock action

here.

THURSDAY'S EARNINGS

Microsoft (MSFT) - Get Report Beats Estimates

Revenue:

Fourth-quarter revenues rose 22% to $16.04 billion, driven by Office 2010 and Windows 7.

Earnings:

Profit rose 48% to $4.52 billion, or 51 cents a share, beating estimates of 46 cents.

Outlook:

The company expects full-year operating expense of $26.9 billion to $27.3 billion.

Share performance:

The stock is flat on extended trading. See recent

(MSFT) - Get Report

here.

Amazon (MSFT) - Get Report Misses Estimates, Guides Lower

Revenue:

Electronics and general merchandise drove revenues higher by 41% to $6.54 billion.

Earnings:

Profits jumped 45% to $207 million, or 45 cents a share. Analysts were expecting 54 cents.

Outlook:

Amazon expects third-quarter revenue in the range of $6.9 billion to $7.63 billion, short of analysts' estimates of $7.15 billion

Share performance:

The stock plunged 15% in extended trading. See recent

Amazon stock action

here.

AT&T (T) - Get Report Raises Full-Year Outlook

Revenue:

Demand for iPhones boosted subscribers, but revenue came in flat at $30.8 billion.

Earnings:

Profit rose 26% year-on-year to 68 cents a share. Adjusted earnings rose to 61 cents a share, beating estimates at 57 cents.

Outlook:

Management forecasts "strong" earnings in 2010. It had expected "stable- to- improved earnings" earlier.

Share performance:

The stock ended 2.3% higher on Thursday. See recent

AT&T stock action here.

SunTrust Banks (STI) - Get Report Narrows Loss

Revenue:

Total revenue came in at $2.16 billion, down 2% compared to a year earlier, but up 14% sequentially. Net interest margin rose 39 basis points to 3.3%.

Earnings:

SunTrust posted a net loss of $56 million, or 11 cents a share, narrower than its loss of $164 million, or 41 cents a share, in the year-earlier Excluding preferred dividends, mainly related to its government bailout funds, the bank would have earned $12 million in the June period.

Outlook:

The bank did not provide an outlook in its earnings release.

Share performance:

The stock rose 9.6% on Thursday and was flat in extended hours. See recent

SunTrust stock action

here.

Caterpillar (CAT) - Get Report Ups Outlook as Profits Soar

Revenue:

Sales and revenues were up 31% at $10.41 billion

Earnings:

Profit jumped to $1.09 a share, blowing away estimates of 85 cents.

Outlook:

Caterpillar raised its full-year profit outlook to $3.15 to $3.85 from previous guidance of $2.50 to $3.25.It increased its full-year sales and revenue forecast to $39 billion to $42 billion.

Share performance:

The stock rose 1.7% on Thursday and was flat in extended hours. See recent

Caterpillar stock action

here.

WEDNESDAY'S EARNINGS

Qualcomm (QCOM) - Get Report Beats Revenue Estimates

Revenue:

June quarter sales declined 2% year-over-year to $2.71 billion, higher than expected $2.63 billion.

Earnings:

Net income rose 4% year-on-year to $767 million or 47 cents a share. Adjusted earnings rose 6% to 57 cents a share, beating estimates at 54 cents.

Outlook:

Management expects to report sales of $2.67 to $2.93 billion in the September quarter and earnings of 39 to 43 cents. Adjusted earnings is estimated at 55 to 59 cents. Analysts are expecting 57 cents.

Share Performance:

The stock is up 4.2% in extended trading. See recent

Qualcomm stock action

here.

eBay (EBAY) - Get Report Sees Strong Growth in Paypal

Revenue:

Sales in the June quarter rose 6% to $2.2 billion, led by strong performance of PayPal.

Earnings:

Profits per share rose 24% to 31 cents. Adjusted for items, profits rose 8% to 40 cents a share, beating estimates of 38 cents on revenues of $2.17 billion.

Outlook:

Management lowered full-year guidance to reflect the impact of pressure from a stronger U.S. dollar. Revenue is expected to range between $8.8 and $ 9 billion, while adjusted profits are expected to range from $1.60 to $1.65 a share.

Share Performance:

The stock is up 3.4% in extended trading. See recent

eBay stock action

here.

Netflix (NFLX) - Get Report Displays Soft Sales

Revenue:

Sales rose to $519.8 million short of street expectations of $524 million. Subscribers surged by 42%.

Earnings:

Profits came in at 80 cents a share, significantly higher than the estimated 70 cents.

Outlook:

Management expects to end the third quarter with 16.3 million to 16.7 million subscribers and GAAP EPS of 61 to 74 cents.

Share Performance:

The stock is down 9% in extended trading. See recent

Netflix stock action

here.

Starbucks (SBUX) - Get Report Raises Dividend, Outlook

Revenue:

Sales rose 9% to $2.6 billion led by same-store sales growth of 9%.

Earnings:

Profits rose 35% to 27 cents a share. Adjusted for items, earnings were at 29 cents, in line with estimates.

Outlook:

Management expects adjusted EPS for 2010 at $1.22 to $1.23.

Share Performance:

The stock is down 2% in extended trading as in-line results failed to impress. See recent

Starbucks stock action

here

Morgan Stanley (MS) - Get Report Beats View on Higher Trading

Revenue:

Revenue rose 53% to $8 billion.

Earnings:

Net income rose to $1.09 per share from a loss of $1.10 a year-ago. Earnings from continuing operations were 80 cents per share, comfortably beating estimates of 46 cents.

Outlook:

Management did not provide a specific outlook but were cautious in their tone, predicting a difficult market environment in the months ahead.

Share performance:

Shares are up 9% in Wednesday trading. See recent

Morgan Stanley stock action

here.

Wells Fargo (WFC) - Get Report Beats Profit View

Revenue:

Revenue dropped $1 billion from the year-ago quarter to $21.4 billion, in line with estimates.

Earnings:

Profits rose 12% to 55 cents a share, beating estimates of 48 cents.

Outlook:

Management did not share its outlook on the impact of financial regulatory reform.

Share performance:

Shares rose 3.1% in extended trading. See recent

Wells Fargo stock action

here.

Coca-Cola (KO) - Get Report Profit Rises on Higher Volumes

Revenue:

Revenue rose 5% to $8.67 billion, on higher volume growth.

Earnings:

Profits rose 16% to $1.02 a share. Excluding items, earnings were at $1.06 a share beating estimates by 3 cents.

Outlook:

Management said it remains on track in the integration of

Coca-Cola Enterprises'

(CCE)

North America bottling unit.

Share Performance:

The stock is up more than 1.5% in afternoon trading. See recent

Coca-Cola stock

action here.

TUESDAY'S EARNINGS

Yahoo! (YHOO) Profit Jumps 51%

Revenue:

Revenue rose 2 % to $1.6 billion.

Earnings:

Net income jumped 53% to $213 million or 15 cents a share, as operating margins improved. Analysts were expecting 14 cents.

Outlook:

Revenue for the third quarter is expected to range between $1.57 billion to $1.65 billion.

Share Performance:

The stock was sliding 5% in extended trading. See recent

Yahoo stock action

here.

Apple (AAPL) - Get ReportZooms Past Estimates

Revenue:

Revenue for the June quarter grew 61% to $15.7 billion, one billion dollars more than estimates. Apple sold 8.4 million iPhones, 3.27 million iPads.

Earnings:

Profits soared to $3.51 share from $2.01 a year-ago. Analysts were expecting $3.11 a share.

Outlook:

Apple expects revenue for the fourth quarter to be $18 billion and earnings to be at $3.44 a share. Consensus for the September quarter revenue was at $17.03 billion.

Share Performance:

The stock rose 3.1% in extended trading. See recent

Apple stock action

here.

Boston Scientific (BSX) - Get ReportProfits Drop

Revenue:

Revenue for the June quarter declined 9.5% to $1.9 billion.

Earnings:

Profits declined 38 % to $98 million or 6 cents a share from 10 cents a share in year ago quarter. Adjusted or Non-GAAP profit declined 40% to 12 cents a share.

Outlook:

Management expects revenues for third quarter to range from $1.85 billion to $1.93 billion and profits on a GAAP basis to range from 1 cent to 5 cents a share. Adjusted earnings are expected to range from 10 cents to 13 cents a share.

Share Performance:

The stock rose 1.6% in extended trading. See recent

Boston Scientific stock action

here.

Goldman Sachs (GS) - Get Report Misses on Revenue

Revenue:

Revenue dropped 35% to $8.8 billion from $12.8 billion in year-ago quarter on lower trading revenue. Analysts were expecting revenue of $8.9 billion.

Earnings:

Earnings declined 83% to 79 cents a share. Excluding settlement expenses and U.K. bank payroll tax, earnings were $2.75 a share, beating estimates of $2.08.

Outlook:

No guidance was provided.

Share Performance:

Shares were shedding 2.3% in Tuesday morning trading. See recent

Goldman Sachs stock action

here.

PepsiCo (PEP) - Get Report Tops Revenue Estimates But Disappoints on Profits

Revenue:

The beverage and snack maker saw revenue rise nearly 40% to $14.8 billion.

Earnings:

Profit declined 8% to 98 cents a share on currency impact. Analysts were expecting $1.08 on revenue of $14.4 billion.

Outlook:

Pepsi expects to maintain its earnings growth target of 11% to 13% for the full year.

Share Performance:

The stock rose 2% to $62.40 in Tuesday morning trading. See recent

Pepsi stock action

here.

Johnson & Johnson (JNJ) - Get Report Cuts View on Recalls

Revenue:

Revenue for June quarter rose 0.6% to $15.3 billion.

Earnings:

Profit was at $3.4 billion, or $1.23 a share. Excluding items, earnings per share came in at $1.21, a 5.2% increase over year-ago quarter.

Outlook:

Earnings outlook for the year was revised to $4.65 to $4.75 a share to reflect the impact of product recalls.

Share Performance:

The stock was down 2.2% in Tuesday morning trading. See recent

Johnson & Johnson stock action

here.

MONDAY'S EARNINGS

IBM (IBM) - Get Report Misses on Sales, Raises Guidance

Revenue:

Revenue rose 2% to $23.7 billion, below estimates of $24.17

Earnings:

Earnings rose 13% to $2.61 a share, beating estimates of $2.58.

Outlook:

IBM raises full-year earnings estimate to at least $11.25, but still short of consensus expectations of $11.27.

Share Performance:

The stock, which rose 1.4% ahead of earnings, was shedding 3.8% in extended trading. See recent

IBM stock action

here.

Texas Instruments (TXN) - Get Report Reports Profit Growth In-line

Revenue:

Revenue grew 42% to $3.5 billion on robust demand.

Earnings:

Earnings jumped three-fold to 62 cents a share, in line with estimates.

Outlook:

Texas Instruments expects revenue for the third quarter to be $3.55 billion to $3.88 billion, against expectations of $3.59 billion. Profits per share are estimated to range between 64 cents and 74 cents, against projections of 64 cents.

Share Performance:

The stock declined 6.7% in extended hours as the company failed to exceed expectations. See recent

Texas Instruments stock action

here.

Zion Bancorp (ZION) - Get Report Widens Loss

Revenue:

Net interest income fell 8% to $ 583 million on declining loan balances and lower net interest margins.

Earnings:

Losses widened to 84 cents a share compared to 57 cents in year-ago quarter. Estimates placed the loss at 55 cents

Outlook:

No outlook was provided.

Share Performance:

The stock declined 3.2% in aftermarket hours.See recent

Zion stock action

here.

Halliburton (HAL) - Get Report Profit Rises on Higher Natural Gas Drilling

Revenue:

Revenue grew 26% to $4.39 billion.

Earnings:

Profits jumped 83% to 53 cents a share, against estimates of 37 cents.

Outlook:

Halliburton expects suspension of drilling in the Gulf of Mexico to negatively impact earnings by 5 to 8 cents per quarter in the second half of the year.

Share Performance:

Shares rose 5.1% in premarket trading. See recent

Halliburton stock action

here.

Hasbro (HAS) - Get Report Profit Rises on Cost Cuts

Revenue:

Revenue fell 7% to $737.8 million.

Earnings:

Earnings rose 11% to 29 cents a share, beating estimates by 5 cents.

Outlook:

Hasbro expects revenues to be weighted towards the second half of the year as new initiatives launch.

Share Performance:

The stock was unchanged in premarket trading. See recent

Hasbro stock action

here.

Delta Airlines (DAL) - Get Report Swings to Profit as Travelers Return

Revenue:

Uptick in travel helped boost revenue 17% to $8.17 billion.

Earnings:

Earnings excluding special items rose to 65 cents a share, against estimates of 63 cents. Including items, earnings came in at 55 cents a share.

Outlook:

Delta expects strong double-digit growth in passenger revenue per available seat mile in the third quarter.

Share Performance:

Shares fell 1.9% in premarket trading. See recent

Delta Airlines stock

action here.

McMoRan (MMR) Reports Lower Losses

Revenue:

Revenue rose 11.8% to $108 million.

Earnings:

Losses narrowed to 23 cents a share, from $1.40 a year earlier. Estimates were at 23 cents a share.

Outlook:

Management expects average daily production in 2010 at 160 million cubic feet equivalent per day, or MMcfe/d, compared with previous guidance of 170 MMcfe/d.

Share Performance:

Shares ended Friday at $10.78. See recent

McMoRan stock action

here.

-- Reported by Shanthi Venkataraman in New York.

Readers Also Like:

>>5 Stocks With Biggest Earnings Upgrades

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.