Second-Quarter Earnings Announcements: Merrill Lynch Tops Estimates, and More
Week one of the second-quarter earnings season was a winner. Starting with
Yahoo!
(YHOO)
, whose strong results helped spur a
Nasdaq
rally that left the tech-filled index at its highest levels since early April. The Comp finished the week at 4174.6, up 6.7%.
Over on the
Big Board
,
General Electric
(GE) - Get General Electric Company Report
turned in a record quarter and
Motorola
(MOT)
posted a 91% gain, excluding special items, from the year-ago period. Still, the Dow index rose by less than 1.6%, ending the week at 10,812.
Week two will bring a torrent of earnings from companies such as
TheStreet Recommends
Apple
(AAPL) - Get Apple Inc. Report
,
AOL
(AOL)
and
Microsoft
(MSFT) - Get Microsoft Corporation Report
to
US Airways
(U) - Get Unity Software, Inc. Report
and
United Technologies
(UTX) - Get United Technologies Corporation Report
.
TheStreet.com
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
calendar.
Earnings/Revenue Reports and Previews
Copper Mountain Networks
(CMTN)
announced second-quarter earnings of 18 cents per diluted share, missing an eight-analyst estimate of 24 cents but beating its year-ago earnings of 5 cents.
Coca-Cola Enterprises
(CCE)
posted second-quarter earnings of 30 cents a share, ahead of the 15-analyst estimate of 28 cents.
Dana
(DCN)
reported second-quarter earnings of $1.01 a share, beating the 13-analyst estimate by a penny. It was down from year-ago earnings of $1.14 a share, which includes about $5 million in nonrecurring after-tax expenses.
Internet content delivery provider
Digital Island
(ISLD)
posted third-quarter losses of $1.51 a share, ahead of the 11-analyst estimate of a $1.56 loss and the year-ago $3.96 loss.
Additionally, Digital Island announced that it would acquire
SoftAware Networks
, an e-commerce content service company, for $450 million in cash and stock. The acquisition adds more than 500 clients and brings Digital Island's total client base to over 900 worldwide.
Extensity
(EXTN) - Get Exterran Corp. Report
posted second-quarter losses of 34 cents a share, ahead of the three-analyst 37-cent loss estimate.
Information Holdings
(IHI) - Get iShares U.S. Medical Devices ETF Report
announced that its second-quarter earnings would meet analysts' expectations, but its revenue would be about 10% below Wall Street's estimates. A five-analyst consensus predicted second-quarter earnings of 7 cents for the company, up a penny from a year ago.
Minntech
(MNTX) - Get Manitex International, Inc. Report
announced that it expects earnings in its fiscal first quarter to fall below analysts' expectations due to a decline in revenues. The company, which makes dialyzer reprocessing technologies, said it expects earnings to be between a loss of two cents a share to a gain of two cents a share.
Schlumberger
(SLB) - Get Schlumberger NV Report
posted second quarter earnings of 27 cents a share, a penny better than the 31-analyst estimate and the year-ago 16 cents a share. Excluding goodwill amortization, the company earned 31 cents in the latest quarter and 19 cents in the year-ago period.
Time Warner
(TWX)
posted second-quarter normalized earnings, excluding charges, of 11 cents a share, above the 16-analyst estimate of 8 cents and in line with the year-ago earnings of 11 cents, which excludes gains.
Whirlpool
(WHR) - Get Whirlpool Corporation Report
reported second-quarter earnings of $1.66 a share, in line with the eight-analyst estimate and up from the year-ago $1.30. The company warned it expects 2000 earnings to be modestly short of the current eight-analyst estimate of $6.86, while still showing 20% to 25% growth from last year.
Yellow Corp.
(YELL)
reported second-quarter earnings of 92 cents a share, which includes a 34-cent-a-share gain from its Yellow Freight System unit's sale of real estate property in New York. The figure also includes a loss of 6 cents a share from expenses of its Internet transportation venture, Transportation.com. The four-analyst estimate was 58 cents a share and the year-ago earnings were 52 cents a share.
Tuesday's Earnings
Veritas Software Swoons After Hours Following Earnings Report
Apple's Earnings Rise 43%, Edging Past Estimates
Update: Intel's Profit Climbs, Beating Forecasts by a Penny
Update: DoubleClick Reports Narrower-Than-Expected Loss of 3 Cents a Share
Update: Microsoft Earnings Rise 9.5%, Exceeding Estimates
Broadcom Roars Past Estimates, Sees Surge in Revenue
Commerce One Beats Estimates but Slips in After-Hours Trading
GM Zooms Past Estimates on Record Profits of Nearly $1.8 Billion
Time Warner Beats Expectations by 3 Cents
Merrill Lynch Tops Estimates by a Whopping 31 Cents
Continental, Southwest Soar Past Expectations
Continental Soars Past Expectations
Monday's Earnings
July 14 Earnings
July 13 Earnings
July 12 Earnings
