Wednesday offers up another full raft of earnings reports from major companies, both in the New Economy and Old Economy.
The online retailer
headlines Wednesday's earnings reports. The company, which lists results after the close,
announced Tuesday that its president, Joseph Galli, had resigned to become the CEO of
The excitement doesn't stop there. Wall Street will hear from company-of-the-moment
, which replaces
S&P 500 after Wednesday's close. The fiber-optic equipment maker is also in the midst of a massive acquisition of rival
takes its turn in the earnings spotlight as well. The
Dow Jones Industrial Average component turned in strong year-over-year growth in the first quarter as new products contributed to the bottom line.
posts second-quarter results. In June, the copier-and-so-much-more giant announced that second-quarter earnings would come in well below Wall Street's expectations.
is compiling all of its earnings news and analyses in one convenient location to make it easier for our readers to see where earnings are headed. We will update this section as soon as earnings reports arrive. To keep track of what's coming, we have a daily earnings
preview as well as a weekly earnings
Earnings/Revenue Reports and Previews
edged up 1/16 to 78 7/8 after it reported earnings of $1.04 a share, beating the 17-analyst estimate by 2 cents and up from year-ago earnings of 90 cents a share. Also, the world's largest brewer's board approved a 2-for-1 stock split and a 10% increase in its quarterly dividend to 33 cents from 30 cents.
posted second-quarter earnings of 18 cents a share, better than the 29-analyst estimate of 15 cents and up from year-ago earnings of 11 cents.
Better-than-expected earnings sparked a number of analyst actions.
Credit Suisse First Boston
raised the stock's price target to 120 from 100, its fiscal 2000 earnings estimate to 73 cents a share from 69 cents and fiscal earnings estimate 2001 to $1 a share from 85 cents.
hiked its price target to 115 from 84, while
bumped the company's stock target to 110 from 85 and increased its 2000 EPS estimate to 72 cents a share from 67 cents and its 2001 estimate to 97 cents a share from 86 cents. Also,
raised Nortel's price target to 130 from 100. It also raised its 2000 EPS estimate to 75 cents a share from 73 cents and its 2001 EPS estimates to $1.03 from $1.
raised its 2000 EPS view to 75 cents a share from 68 cents and its 2001 EPS view to $1 from 85 cents.
Despite the positive actions on the company, it fell 3 15/16 to 83 1/16.
was down 1 9/16 to 57 7/8 after it reported second-quarter earnings of 59 cents a share, in line with the 12-analyst estimate and up from year-ago earnings of 43 cents a share. The Federal Energy Regulatory Commission authorized
El Paso Energy's
acquisition of Coastal. The deal is valued at $16 billion, with El Paso buying Coastal for nearly $10 billion in stock and assuming $6 billion in debt.
posted second-quarter earnings of 50 cents, beating the eight-analyst estimate of 35 cents and up from the year-ago loss of 5 cents. The stock was raised to intermediate-term buy from accumulate at
, and its price target was raised to 70 from 60. The stock was up 3 3/8, or 7.6%, to 47 7/8.
warned investors that its fiscal 2000 earnings would fall below last year's profit. The automaker cited weakness at its U.S.
unit for denting earnings for the second half of fiscal 2000. DaimlerChrysler posted second-quarter earnings of $1.66 a share, beating the eight-analyst estimate of $1.52 a share and up from the year-ago $1.52 profit. Still, the automaker managed to move up 1 5/16 to 53 9/16.
, up 1 5/16 to 44 15/16, reported second-quarter earnings of 90 cents a share, beating the 15-analyst estimate of 88 cents and up from year-ago earnings of 78 cents a share.
The company also announced it will repurchase $2.5 billion worth of its stock and pay for the program mostly with funds raised from asset sales. The company did not disclose what assets would be sold to pay for the repurchase.
reported second-quarter earnings of 68 cents, beating the six-analyst estimate of 57 cents and up from year-ago earnings of 16 cents.
Credit Suisse First Boston
raised the stock, adding it to its focus list with a strong buy rating. Fairchild fell 7/8 to 37 5/8.
reported second-quarter earnings of 29 cents a share, in line with the 21-analyst estimate and up from year-ago earnings of 10 cents a share.
cut its rating on the company to accumulate from strong buy. LSI fell 8, or 19.8%, to 32 1/2.
reported second-quarter earnings of 26 cents a share, beating the nine-analyst estimate of 23 cents and up from year-ago earnings of 20 cents a share.
Deutsche Banc Alex. Brown
raised Norfolk's rating to buy from market perform. The stock rose 1 15/16, or 12.4%, to 17 9/16.
posted second-quarter earnings of 29 cents a share, beating the five-analyst estimate by a penny and up from year-ago earnings of 22 cents.
cut the stock down to market perform from buy and
Banc of America
cut it to buy from strong buy. The firms cited a revenue shortfall and concern about sales-force staffing as the reasons for downgrading the stock. The stock plummeted 19 23/32, or about 47%, to 22 3/8.
posted second-quarter earnings of 1 cent, beating the 17-analyst estimate of nil and up from the year-ago loss of 4 cents. Still,
cut its rating to buy from strong buy. Vignette sunk 4 7/8, or 11.2%, to 38 3/4.
After Tuesday's Close
posted first-quarter earnings of 20 cents a share, a penny better than the 15-analyst estimate and up from the year-ago 7-cent profit, which included a charge.
cut the company's fiscal 2001 EPS down to $1.43 a share from $2.15. BMC fell 1 9/16, or 8.5%, to 16 15/16.
posted a second-quarter loss of 44 cents, beating the seven-analyst estimate of a 50-cent loss and up from the year-ago loss of 60 cents. Separately, the company named Jeffrey Sheahan its chief executive. The stock slid down 1/4, or 8.6%, to 2 21/32.
was down 21/32 to 7 7/32 after it reported a second-quarter loss of 16 cents, better than the two-analyst estimate of an 18-cent loss. The year-ago loss was only 9 cents a share. Also, the company announced that Ron Matros, president and CEO, has resigned, effective immediately. Open Market provided no reason for the resignation.
reported fourth-quarter earnings of 6 cents a share, missing the five-analyst estimate by a penny and down from year-ago earnings of 14 cents a share.
The company's board authorized the repurchase of up to 3 million shares of its common stock. The stock was 7/16, or 5.7%, higher to 8 5/32.
Amgen Squeezes Past Expectations as Earnings Rise 13%
Amazon Beats Forecast, but Operating Loss Widens
B2B Firms Clarus, webMethods Beat Estimates
JDS Uniphase Surpasses Estimates as Sales Soar 173%
DuPont Posts 7% Increase in Earnings
USA Networks Beats Forecast
RadioShack Beats Estimates by 2 Cents
DaimlerChrysler Sees Profits Failing to Meet Estimates
Xerox Issues Warning on Second Half
July 21 Earnings
July 20 Earnings
July 19 Earnings
July 18 Earnings
July 17 Earnings
July 14 Earnings
July 13 Earnings
July 12 Earnings