GameStop Corp. (GME) raised its fourth-quarter per-share earnings by 2 cents to a range of $1.11 to $1.12 from previously raised guidance of $1.09 to $1.10. The Grapevine, Texas, video game and entertainment software retailer also raised its earnings estimate by 2 cents to $1.77 to $1.78 for the fiscal year ended Feb. 2. Preliminary fourth-quarter same-store sales are forecasted to have come in at 17.4%,above expectations.
This was announced at 10 am, after the market had already opened....unusual. The stock has jumped up 1.32 to $47.04.
Friday, February 15, 2008
More Merger Talk in Airline Industry...
United, Continental talks advance. United Airlines (UAUA) and Continental (CAL) are in advanced negotiations and could move quickly if and when Delta (DAL) and Northwest (NWA) strike a deal. The two must wait for DAL/NWA because Northwest can potentially block any deal involving Continental until it merges itself. Meanwhile, United is still considering a bid for Delta if Delta fails to close a deal with Northwest; the two discussed a tie-up last month.
I Love This....
Greenspan: Recession knocks at the door. Former Fed chairman Alan Greenspan says the U.S. is on the edge of recession, and that the odds of an economic downturn are greater than 50-50. Home prices will continue to fall, which has already begun to take a toll on consumer spending.
Wow...he's really going out on a limb here....50-50 chance???
Wow...he's really going out on a limb here....50-50 chance???
Wal-Mart Target Raised...
Wal-Mart Stores Inc. (WMT). The Bentonville, Arkansas-based retailer's price target was raised today to $55 from $54 by Lehman Brothers (LEH). Wal-Mart's 2008 earnings forecast was also raised ahead of the discount retailer's full-year and fourth quarter results next Tuesday. The broker said it now anticipates the company to earn $3.35 a share in 2008, up from a prior estimate of $3.30. It maintained its overweight stance on the stock.
Lehman said the company will benefit in 2008 from initiatives to improve profitability, returns and generate stronger cash returns. The broker added that it expects Wal-Mart's sales to receive a boost from tax rebates, which households are expected to receive in May. For the fourth quarter, Lehman expects the company to post earnings of $1 a share on revenue of $105.7 billion.
Lehman said the company will benefit in 2008 from initiatives to improve profitability, returns and generate stronger cash returns. The broker added that it expects Wal-Mart's sales to receive a boost from tax rebates, which households are expected to receive in May. For the fourth quarter, Lehman expects the company to post earnings of $1 a share on revenue of $105.7 billion.
Chipotle Earnings Jump 62%; Shares Fall
Chipotle Mexican Grill Inc.'s (CMG) fourth-quarter net income climbed 62% as the company continued double-digit percentage same-store sales growth.
But its shares fell 14% in after-hours trading as the results failed to meet Wall Street expectations.
The burrito restaurant chain reported net income of $17.5 million, or 53 cents a share, up from $10.8 million, or 33 cents a share, a year earlier. Results included a 1-cent tax charge.
Revenue jumped 31% to $288.9 million. Same-store sales grew 10.6% on an increase in customer visits.
Analysts' mean estimates were for earnings of 55 cents a share on revenue of $289 million, according to a poll by Thomson Financial.
So....they missed by a penny and they sell the stock off 15%.
But its shares fell 14% in after-hours trading as the results failed to meet Wall Street expectations.
The burrito restaurant chain reported net income of $17.5 million, or 53 cents a share, up from $10.8 million, or 33 cents a share, a year earlier. Results included a 1-cent tax charge.
Revenue jumped 31% to $288.9 million. Same-store sales grew 10.6% on an increase in customer visits.
Analysts' mean estimates were for earnings of 55 cents a share on revenue of $289 million, according to a poll by Thomson Financial.
So....they missed by a penny and they sell the stock off 15%.
Dryships Profits and Revenues Soar...
DryShips Inc. (DRYS) late Thursday reportedfourth-quarter net income of $195.2 million, or $5.37 per share, which includesa capital gain on the sale of one vessel of $31.5 million, 87 cents a share. Excluding the gain, the Greece-based marine transport company's profit wouldhave been $163.7 million, or $4.50 a share.
The mean estimate of analysts polled by Thomson Financial was for aper-share profit of $4.04 a share. Time charter equivalent revenue in the three months ended Dec. 31 rose to $223.5 million versus the consensus analyst estimate of $209 million. In the same period last year, DryShips earned $35.9 million, or $1.02 ashare, on revenue of $74 million.
The company's shares closed at $84.25. The stock traded up to $90 in the aftermarket.
The mean estimate of analysts polled by Thomson Financial was for aper-share profit of $4.04 a share. Time charter equivalent revenue in the three months ended Dec. 31 rose to $223.5 million versus the consensus analyst estimate of $209 million. In the same period last year, DryShips earned $35.9 million, or $1.02 ashare, on revenue of $74 million.
The company's shares closed at $84.25. The stock traded up to $90 in the aftermarket.
Priceline.Com 4Q Beats Views
Priceline.com's profit rises to $32.9 million, or 68¢ cents a share, as revenue increases to $334.9 million. Excluding one-time items, company reports profit of 96¢ a share. Analysts expected earnings of 84¢ on revenue of $329 million.
Priceline stock (PCLN) has been a great performer, doubling in the last year. It is currently down 20 points from its high hit in December and looks like it is getting ready to break out to higher ground.
Priceline stock (PCLN) has been a great performer, doubling in the last year. It is currently down 20 points from its high hit in December and looks like it is getting ready to break out to higher ground.
Buffet Quietly Buying Kraft Foods...
Berkshire Hathaway, the closely watched investment vehicle of billionaire Warren Buffett, discloses yesterday that it was quietly accumulating shares of Kraft Foods in 2007, amassing an 8.6% stake by the end of the year.
GMAC Majority Owner Warns of Trouble Ahead
GMAC LLC, the auto and mortgage lender owned by Cerberus Capital and General Motors Corp., may face "substantial difficulty" if credit markets do not improve, Cerberus founder Stephen Feinberg said. GMAC posted a $724 million fourth-quarter loss and was downgraded by Moody's Investors Service as borrowers increasingly fell behind on payments.
Are you kidding me??? GMAC has been having severe troubles for at least 9 months...They've been shutting offices down everywhere. This is no surprise...
Are you kidding me??? GMAC has been having severe troubles for at least 9 months...They've been shutting offices down everywhere. This is no surprise...
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