WNS Net Declines
May 16, 12:38 PM EDT |
|
| WNS stock edged higher after it reported quarterly earnings and issued upbeat outlook. |
|
| WNS Limited, an offshore business services provider reported fourth quarter revenue rose 4.9% to $116.1 milion and net income fell 32% to $6.1 million. Earnings per ADS dropped to 14 cents from 21 cents a year ago. In the quarter the company took a charge of $15.5 million on assets related to a subprime lender servicing contract. The company expects to earn between $44 million and $46 million in the current fiscal year. |
|
|
Full Story... |
Abercrombie Earnings Rise 3%
May 16, 12:09 PM EDT |
|
| Abercrombie & Fitch, marketere of trendy clothes for youung adults reported rising sales and earnings as same store sales. |
|
| Abercrombie & Fitch Co., specialty retailer reported first quarter net sales across various store brands increased 8% to $800.2 million compared to $742.4 million in the same period of 2007. Net income increased 3% to $62.1 million or $0.69 per diluted share compared to $60.1 million or $0.65 per share a year ago. Despite worries of the consumer spending slow down, several brands in the chain reported rising same store sales. |
|
|
Full Story... |
JC Penney, Teekay and Stanley Rise
May 15, 2:17 PM EDT |
|
| JC Penney revenue fell 5% to $4.1 billion and net income dropped 50% to $120 million. |
|
| Teekay Corp, crude oil shipper reported revenue rise o 22% to $736 million but earnings fell 4% to $15.2 million. Earnings per share fell 21 cents to from $1.02 a year ago. Real estate service provider in China, E-House revenue in the first quarter rose 107% to $33 million and earnings increased to $.87 million from $4.4 million. Urban Outfitters revenue increased 25% to $394 milion and net income jumped 45% to $42.6 million. |
|
|
Full Story... |
Barclays Loss on £1.7 B Charge
May 15, 10:59 AM EDT |
|
| Barclays, global bank based in the UK took a whopping charge as its portfolio of loans exposed to U.S. loans deteriorate. |
|
| Barclays, the British bank with a significant presence in the U.S. reported first quarter loss of £1.1 billion in the quarter on the charge of £1.7 billion related to credit market losses and still has exposure to £14 billion pounds to subprime and other asset backed loans at the end of the first quarter. The leverage finance loan exposure is £7.4 billion. The capital and equity ratios at the bank were lower than a quarter ago but the bank is sending no signal that it needs to raise capital. |
|
|
Full Story... |
Electronic Arts, Whole Foods Fall, Macy's Rise
May 14, 7:01 PM EDT |
|
| Macy's gained after revenue declined only 2.9% and it reported first quarter loss of $59 million. |
|
| Electronic Arts and Whole Foods fell after earnings declined in the ltest quarter. Macy''s and Nice Systems gained on smaller than expected decline in earnings. Whole Foods plunged 13% and led the decliners in the S&P 500 index after it reported revenue rise of 28% to $1.9 billion and net income declined 13% to $40 million or 29 cents per share. Electronic Arts fell after it reported fourth quarter loss of $94 million and revenue increase of 84% to $1.13 billion. |
|
|
Full Story... |
Arcelor, Thyssen , Steel Price Hikes
May 14, 6:37 PM EDT |
|
| ArcelorMittal and ThyssenKrupp forecasted higher steel prices in the current fiscal year as they pass on raw materials price hikes. |
|
| Steel companies for now continue to raise prices and forecast more increase in the rest of the year. ArcelorMittal is asking for 720 euros per ton for flat carbon steel and ThyssenKrupp hinted another price hike if raw material prices keep rising. Iron ore, coal and cost of electricity continues to rise across the globe as Canadian, Brazilian and Australian miners demand between 60% and 200% price hikes. |
|
|
Full Story... |
Deere Falls on Earnings Rise of 22%
May 14, 1:13 PM EDT |
|
| Deere fell 8% after the first quarter earnings rise 22% and sales increased 18% in the first quarter. |
|
| Deer & Company reported first quarter sales increased 18% to $8.1 billion and earnings rose 22% to $763 million. Earnings per share increased to $1.74 compared to $1.36. Worldwide net revenues increased 18% to $13.3 billion for the first six months. Net sales outside the U.S. and Canada were increased by 46% percent for the quarter and 42% for six months. |
|
|
Full Story... |
McDermott, Fluor Rise on Earnings
May 13, 3:59 PM EDT |
|
| McDermott jumped 8% and Fluor Corp surged 15% after the earnings release. MEMC reported a quarterly loss. |
|
| McDermott reported firt quarter revenue gains of 6% to $1.45 billion and earnings decreased 22% to $123 millon or 54 cents per share. Engineering and construction company Fluor Corp first quarter revenue rose 32% to $4.81 billion and earnings increased 39% to $138 million or $1.50 per share. MEMC Electronic Materials in the first quarter reported a loss of $41.8 million or 18 cents per share. |
|
|
Full Story... |
Wal-Mart Falls After Sales Rise 10%
May 13, 11:40 AM EDT |
|
| Wal-Mart sales and earnings increased in the first quarter 2008 on a steady rise in sales in international markets. |
|
| Wal-Mart Stores, Inc. reported net sales for the first quarter 2008 increased 10.2% to $94.12 billion from $85.4 billion for the first quarter of fiscal year 2007. First quarter net income was increased 6.9% to $3.02 billion or $0.76 per diluted share compared to $2.83 billion or $0.68 per diluted share in the same quarter of 2007. |
|
|
Full Story... |
MBIA Rises, Impairment Loss Declines
May 12, 11:55 PM EDT |
|
| MBIA, the troubled bond insurer, rose after it reported sharply higher loss under GAAP accounting but asserted a significantly higher book value. |
|
| MBIA rose after it reported first quarter revenue decline of 4% to $711.4 million and loss of $2.4 billion or $13.03 per share. The company asserted that the mark-to-market accounting creates a higher loss than the potential economic loss that the company anticipates. In addition, even if the losses are incurred they have to be paid over 30 to 40 years time. The bond insurer offered its own calculation of book value per share, that shows sharply higher net worth of the company. |
|
|
Full Story... |
|
|
