The following is TheStreet's rundown of the week's most important earnings releases.THURSDAY'S EARNINGS: CONSTELLATION BRANDS (STZ) RAISES FULL-YEAR EPS GUIDANCE Revenue: First-quarter sales were down 1% to $787.5 million due to divestiture of units. Earnings: Profits, excluding one-off items, soared to 38 cents a share from 33 cents a share in year ago quarter. Analysts expected 35 cents a share. Outlook: The 2011 EPS guidance was raised to between $1.63 and $1.78 a share to reflect impact of accelerated share buy-back. Share Performance: The stock was down 0.9% in early trading on Thursday to $15.47. See recent
WEDNESDAY EARNINGS: APOLLO GROUP (APOL) BEATS ESTIMATES, GUIDES ABOVE EXPECTATIONS Revenue: Apollo Group recorded revenue growth of 28% in the third quarter to $1.33 billion, led by 13% increase in enrollments. Earnings: Profits from continuing operations, excluding special items, rose 33% to $1.74 a share, beating analyst expectations. The company repurchased 2.5 million shares during the quarter. Outlook: Collections from students in associate programs continue to be poor. Bad debts rose to 5.4% of sales. Management announced a new, free, orientation program that could impact operational results in the fourth quarter. Share Performance: Shares were down 2% in late Wednesday trading, but in early morning trading Thursday had gained back 1.2% to reach $42.97. See
XYRATEX (XRTX) REPORTS STRONG QUARTER Revenue: Revenue for the second quarter of 2010 jumped 134% to $455.9 million on strong demand. Earnings: Profits were at $1.49 a share excluding one-off items, compared with a loss of 33 cents a share a year ago. Analysts expected earnings at $1.35 a share. Outlook: The company projects earnings in the range of 87 cents to $1.16 a share. Share Performance: Shares rose 2% in Wednesday aftermarket trading, but are getting hammered within the first hour of trading Thursday, falling 10.2% to hit $12.70. See recent
MONSANTO (MON) PROFITS DECLINE ON ADVERSE PRICING DYNAMICS Revenue: Revenue for the third quarter declined 6% to $2.96 billion, below analyst estimates of $3.17 billion. Monsanto's Roundup herbicide continues to lose share to lower-priced generics. Earnings: Quarterly profit declined 44% to 70 cents a share. Analysts forecast 79 cents. Outlook: Monsanto expects earnings per share for the current quarter to range from a loss of 9 cents to a profit of 11 cents. Analysts expected earnings of 3 cents a share according to Thomson Reuters. Share Performance: Shares declined 0.61% in pre-market trading on Wednesday. See Monsanto stock action here.
ACUITY (AYI) PROFITS FALL ON HIGHER OVERHEADS Revenue: Revenue for the third quarter rose 3% on higher volumes and a stronger dollar.
GENERAL MILLS (GIS) MEETS EXPECTATIONS, DISAPPOINTS ON GUIDANCE Revenue: Revenue for the fourth quarter of 2010 declined 2% from the year-ago quarter, impacted by fewer working days and absent sales from divested units. Earnings: Net profits excluding one-time charges, declined to 41 cents from 43 cents in the year-ago quarter, in line with analyst expectations. Outlook: General Mills announced a hike in dividend ahead of results, but still disappointed markets with its guidance. It expects earnings for 2011 to grow to $2.46 to $2.48 a share, compared to analyst estimates of $2.50 News that a lawsuit had been filed against the company for misleading consumers about the health benefits of its Fruit Roll-Ups snack may also weigh on the stock.
MICRON TECHNOLOGIES (MU) GAINS FROM NUMONYX ACQUISITION Revenue: More than doubled to $2.29 billion, higher than consensus estimate of $2.12 billion, driven by strong performance of the memory segment. Earnings: Net profits rose to $ 0.92 per share against estimates of $0.43 a share. Net income includes $488 million in purchase accounting gains relating to the Numonyx acquisition. Analyst Reaction: Alex Gauna of JMP Securities upped his revenue and earnings forecast earlier in the day on better pricing and demand trends. Share Performance: The stock rose 6% on Monday to close at $10.02, ahead of earnings announcement. By Tuesday morning, immediately after the market open, the stock had given up those gains, plummeting 10.4% to $8.98. See Micron stock reaction here. -- Reported by Shanthi Venkataraman in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.