Month: July 2011

We are downgrading our recommendation on Morgan Stanley ( MS ) to Underperform based on its weak second quarter results, lesser possibility of capital deployment and the expected adverse impact of regulatory restrictions. The MUFG preferred stock conversion resulted in 38 cents per share loss during the quarter, though it enhanced the capital cushion. However, the results were substantially better than the Zacks Consensus Estimate of a loss of 63 cents. […]

Natural gas-focused energy company, Questar Corp. ( STR ) reported impressive second quarter 2011 results, reflecting strong performances of all business units and strong contribution from its expansion venture. […]

Crown Castle International Inc. ( CCI ) declared second quarter 2011 results in line with the Zacks Consensus Estimate. The solid performance was primarily driven by higher usage of smartphones and increased deployment of 4G networks. […]

CB Richard Ellis Group, Inc. ( CBG ) reported net income of $61.2 million or 19 cents per share in the second quarter of fiscal 2011, compared with $54.8 million or 17 cents per share in the year-ago period. […]

U.S. energy behemoth ExxonMobil Corp. 's ( XOM ) second quarter earnings shot up 41% year over year (from $7.6 billion to $10.7 billion), driven by higher commodity price realizations and improved refinery margins […]

The third-largest U.S. wireless carrier Sprint Nextel ( S ) has reported second quarter 2011 adjusted net loss per share of 6 cents, surpassing the Zacks Consensus Estimate of a loss of 12 cents. Adjusted net loss excludes the one-time charge of 22 cents […]

Delta Air Lines ( DAL ), the second largest U.S. airline, has reported second quarter adjusted earnings per share of 43 cents, falling a penny short of the Zacks Consensus Estimate. […]

Colgate-Palmolive Company ( CL ) posted second quarter 2011 earnings of $1.26 per share, keeping in line with Zacks Consensus Estimate. Earnings surpassed the prior-year quarter figure of $1.17 per share by 7.7%. Global net sales increased 9.5% year over year to $4,185 million based on 0.5% increase in pricingand 6% rise in foreign exchange coupled witha 3% addition from global unit volume […]

Boston Scientific Corporation ( BSX ) reported an EPS of 10 cents during the second quarter of fiscal 2011 compared to 6 cents in the year-ago period. However, after considering certain adjustments (other than amortization expense), the adjusted EPS came in at 12 cents beating the Zacks Consensus Estimate of 8 cents and the year-ago quarter’s 6 cents. […]

Equity Residential (EQR ) reported funds from operations (FFO) of $180.7 million in second quarter 2011 compared with $175.1 million in the year-ago quarter. FFO per share in the reported quarter remained flat year over year at 58 cents. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income […]

Goodyear Tire & Rubber Company ( GT ) saw a profit of $159 million or 65 cents per share (excluding special items) in the second quarter of the year, which was more then fivefold from $31 million or 12 cents per share (excluding special items) in the same quarter a year ago. The profit significantly exceeded the Zacks Consensus Estimate of 27 cents per share. The higher profit was led by strong price/mix, offset partially by lower tire unit volume due to weaker North American market. […]

Torchmark Corp. ( TMK ) reported second-quarter 2011 operating income of $1.14 per share, surpassing the Zacks Consensus Estimate by a penny. Earnings grew 7.5% from $1.06 earned in the year ago quarter. […]

DR Horton Inc. ( DHI ) reported net income of $28.7 million or 9 cents per share in the third quarter of fiscal 2011, significantly lower than $50.5 million or 16 cents per share reported in the year-ago quarter. However, excluding pre-tax charges of $9.9 million associated with cost of sales for inventory impairments and land option cost write-offs and a $6.5 million loss on early retirement of debt, the company’s net income stood at $45.1 million or 14 cents per share, comprehensively beating the Zacks Consensus Estimate of 6 cents per share. […]

Starwood Hotels & Resorts Worldwide Inc. ( HOT ) has reported second-quarter adjusted earnings from continuing operations of 50 cents, which surpassed the Zacks Consensus Estimate of 46 cents and improved from the year-earlier earnings of 35 cents. […]

CME Group Inc. ( CME ) reported its second quarter earnings of $293.7 million or $4.38 per share, way ahead of the Zacks Consensus Estimate of $4.17. The earnings also surpassed the prior-year earnings of $270.7 million or $4.11 per share. […]

Universal Technical Institute Inc. ( UTI ) recently posted better-than-expected third-quarter 2011 results. The quarterly earnings of 27 cents a share topped the Zacks Consensus Estimate of 21 cents, and climbed 8% from 25 cents earned in the prior-year quarter. […]

Avon Products Inc. ( AVP ) recently posted second-quarter 2011 adjusted earnings of 49 cents a share, which barely missed the Zacks Consensus Estimate of 50 cents a share but gained 4.3% from the year-ago figure of 47 cents a share. On a reported basis, including one-time items, earnings jumped 23.7% to 47 cents per share from 38 cents per share in the year-ago quarter. […]