PetroChina Earnings Disappoint
Mar 19, 7:04 PM EDT |
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| PetroChina stock traded near its low after the release of its earnings. PetroChina has lost 52% in New York from its peak in October and 30% in HK. |
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| PetroChina reported 2007 earnings rise of 2.4% to Rmb 145 billion on sales increase of 21.2% to Rmb 835 billion. Higher exploration and refining and marketing costs hurt the operating margins. Earnings per share declined to Rmb 0.75 from Rmb 0.76. Return on net asset declined to 19.9% from 25.2%. CNPC controls 86.3% of stock and individual investors hold 13.7%. |
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Morgan Stanley Net Falls
Mar 19, 4:49 PM EDT |
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| Morgan Stanley stock rose 5% after it reported lower earnings but beat the analysts estimates. |
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| Morgan Stanley reported revenue decline of 17% to $8.3 billion and earnings fall of 35% to $1.55 billion. Earnings per share declined to $1.45 from $2.17 in the first quarter of previous fiscal year. In the quarter Morgan wrote down $1.1 billion of sub-prime loans. Asset management group reported 5% increase in assets to $722 billion. Average broker at Morgan had $85 million of client assets and generated $761,000 in commissions. |
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Goldman Sachs Earnings Lift Stocks
Mar 18, 12:40 AM EDT |
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| Goldman Sachs reported lower revenue and earnings but still beat the expectations set by analysts. Higher fund flows to asset managements helped. |
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| Goldman Sachs reported first quarter revenue decline of 35% to $8.34 billion and net income fell 53% to $1.47 billion. Weaknesses were in investment banking and trading gains using its own capital. Asset management and trading execution revenue edged higher on rising net fund flows. |
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Lehman Net Declines 57%
Mar 18, 12:40 AM EDT |
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| Lehman asserted that it has $34 billion in liquid pool of assets, $64 billion in unencumbered assets and $99 billion at regulated entities. |
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| Lehman Brothers reported a decline in revenue of 31% to $3.5 billion and net income fall of 57% to $489 million. Earnings per share declined to 81 cents from $1.96 a year ago. Steady rise in asset management, equity offering fees and prime brokerage services helped the bank to overcome losses in fixed income related revenues. Lehman has been a subject of intense speculation in the last few days after a sudden demise of Bear Stearns as it lacked liquidity. |
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Superior Well Earnings Down 28%
Mar 13, 12:17 AM EDT |
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| Superior Well Services reported a drop in in earnings in the fourth quarter on the rising revenue from the well services. |
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| Superior Well Services reported fourth quarter revenue increased 26% to $94.9 million and net income fell 28% $7 million. For the year 2007 revenue increased 43% to $350.8 million and earnings increased 19% to $37.8 million. Superior stock in the last 52 weeks has traded between $17 and $28. |
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Earnings: Global Source, IDT, Princeton Review
Mar 12, 12:05 AM EDT |
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| Global Source rebounded after it reported a decline in earnings. IDT fell 30% after it reported wider loss than a year ago. |
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| Global Source, B2B media company in China, revenue rose 16% to $60.8 million and net income declined 50% to $8.1 million. IDT Corp revenue in the fourth quarter declined 6% to $476 million. The Princeton Review revenue in the fourth quarter rose 7%. |
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Earnings: J Crew, Payless, Stage Stores
Mar 12, 11:36 PM EDT |
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| Retailers reported declining sales and earnings in the fourth quarter. Collective Brands, J Crew and Stage Stores sales and earnings declined. |
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| Collective Brands, operator of Payless ShoeSource reported fourth quarter loss of $46.6 million compared to a profit of $24.6 million. J Crew apparel retailer reported net income of $25 million compared to $44 million a year ago. Stage Stores reported fourth quarter sales declined 4% to $473 million. |
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Earnings: Elbit Systems, Giga Media
Mar 11, 4:09 PM EDT |
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| Defense electronic systems maker Elbit Systems surged on better than expected earnings. GigaMedia fell after lower than expected earnings rise. |
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| Elbit Systems, defense electronics engineering company reported fourth quarter revenue rose 27% to $591 million and net income increased 33% to $31.9 million. Net earnings for the year increased 6.2%. Elbit stock soared 10%. GigaMedia, Taiwanese online entertainment company reported net income increase of 8% to $10.7 million in the fourth quarter. For the year 2007 revenue soared 77% to $167 million and net income increased 26%. |
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Stewart Enterprises Earnings Drop 25%
Mar 11, 3:55 PM EDT |
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| Stewart Enterprises edged higher after it reported earnings decline of 25%. Stock has lost nearly 40% in the last four months. |
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| Stewart Enterprises reported a decline in earnings in the fiscal first quarter to $8.9 million from $11.9 million a year ago on sales decline of of 1%. Rising cost of cemetery plots and declining death rates in the company''''''''s market played a key role in earnings fall. Analysts surveyed by Thomson were looking for earnings of 11 cents per share. |
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Earnings: Kroger, Dick's, Bon-Ton
Mar 11, 3:36 PM EDT |
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| Kroger offered earnings outlook for the current year between $1.83 and $1.90 per share. |
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| Kroger, food retailer reported fiscal 2007 fourth quarter sales increased 2.2% to $17.2 billion and net income fell to $323 million or 48 cents per share. In the year 2007, sales increased 6.2% to $70.2 billion and earnings were $1.18 billion or $1.69 per share. Dicks Sporting Goods net sales in in the fourth quarter rose 18% to $1.21 billion and comparable store sales increased 2.7%. Bon-Ton department store chain sales dropped to $1.14 billion in fourth quarter of fiscal 2007. |
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