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Earnings Analysis: 
Washington Post, NYSE Euronext Fall
Author: 123jump.com Staff
123jump.com
Last Update: 13:09 PM ET August 01 2008



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NYSE Euronext second quarter revenue increased 6% to $1.15 billion and net income rose 21% to $195 million or 73 cents a share. Earnings growth was lower on litigation expenses related to former chairman Grasso, higher integration costs and continued slide in market share of te NYSE listed companies trading. Washington Post revenue in the second quarter tose 6% to $1.11 billion but reported a loss of $2.7 million. Tidewater Inc revenue rose 11% and earnings fell 3%.

 
1:00PM New York – NYSE Euronext fell sharply after higher integration costs hampered the exchange earnings. General Motors reported its fourth quarterly loss and may face liquidity issues.

Boyd Gaming Corporation, a multi-jurisdictional gaming company reported second quarter revenues declined 9.9% to $460.8 million from $511.4 million a year ago. Net income in the quarter decreased 5.52% to $21.7 million or 25 cents per share compared to net income of $22.1 million or 25 cents per share, a year ago.

Boyd Gaming Corporation (BYD: chart) in the last one year traded as high as $45.40 in October 2007 and as low as $7.90 in July 2008. Based on the yesterday’s closing price the company has a market cap of $876.06 million.

Chevron Corp, lifted by record crude prices reported second quarter revenues rose 32.32% to $82.9 billion from $56.1 billion a year ago. Net income in the quarter increased 10.03% to $5.98 billion or $2.90 per share compared to net income of $5.38 billion or $2.52 per share, a year ago.

Chevron Corp (CVX: chart) in the morning trading fell 32 cents to $84.24 and in the last one year traded as high as $104.63 in May 2008 and as low as $76.40 in February 2008. Based on the yesterday’s closing price the company has a market cap of $174.90 billion.

The Clorox Company, a manufacturer and marketer of consumer products reported fourth quarter sales increased 11% to $1.50 billion from $1.34 billion a year ago. Net income in the quarter decreased 4% to $158 million or $1.13 per share compared to net income of $164 million or $1.07 per share, a year ago.

For fiscal year 2008, Clorox reported net earnings of $461 million, or $3.24 per diluted shares based on outstanding shares of 142 million. Earnings for the fiscal year were reduced by $59 million in pretax charges, or 26 cents per share, associated with the previously announced restructuring-related charges, and $20 million or 9 cents per share, associated with the Burt’s Bees acquisition. Excluding these factors, the company earned $3.59 per share. Fiscal year 2008 sales grew 9% to $5.27 billion.

For fiscal year 2009, Clorox continues to anticipate total sales growth in the range of 6-8%. Excluding the impact of the Burt’s Bees acquisition, Clorox anticipates sales growth in the range of 4% to 6%.

The Clorox Company (CLX: chart) in the last morning trading rose 30 cents to $54.80 and in the last one year traded as high as $66.90 in November 2007 and as low as $47.48 in June 2008. Based on the yesterday’s closing price the company has a market cap of $7.51 billion.

General Motors Corporation, the troubled automaker reported second quarter revenues declined 18.20% to $38.2 billion from $46.7 billion a year ago. Net loss in the quarter was $15.5 billion or $27.33 per share compared to net income of $891 million or $1.56 per share, a year ago.

General Motors Corporation (GM: chart) in the morning trading fell $63 cents to $10.42 and in the last one year traded as high as $43.20 in October 2007 and as low as $8.81 in July 2008. Based on the yesterday’s closing price the company has a market cap of $6.27 billion.

Ingersoll-Rand Company Limited, a diversified industrial firm parts reported second quarter revenues increased 38% to $3.08 billion from $2.22 billion a year ago. Net income in the quarter dropped 73.44% to $256 million or 88 cents per share compared to net income of $964 million or $3.17 per share, a year ago.

Ingersoll-Rand Company Limited (IR: chart) in the morning trading rose $1.51 to $37.49 and in the last one year traded as high as $55.94 in October 2007 and as low as $33.56 in July 2008. Based on the yesterday’s closing price the company has a market cap of $9.82 billion.

NYSE Euronext, the transatlantic financial exchanges operator reported second quarter revenues increased 6.48% to $1.15 billion from $1.08 billion a year ago. Net income in the quarter rose 21% to $195 million or 73 cents per share compared to net income of $161 million or 62 cents per share, a year ago. Earnings growth was lower on litigation expenses related to former chairman Grasso, higher integration costs and continued slide in market share of te NYSE listed companies trading.

NYSE Euronext (NYX: chart) in the morning fell $6.62 to $40.59 and in the last one year traded as high as $95.25 in October 2007 and as low as $38.59 in July 2008. Based on the yesterday’s closing price the company has a market cap of $12.50 billion.

PPL Corporation, an energy and utility holding company reported second quarter revenues increased 0.40% to $981 million from $977 million a year ago. Net income in the quarter declined 45% to $190 million or 50 cents per share compared to net income of $345 million or 88 cents per share, a year ago.

PPL Corporation (PPL: chart) in the morning trading fell $3.54 to $43.44 an in the last one year traded as high as $55.23 in January 2008 and as low as $44.72 in February 2008. Based on the yesterday’s closing price the company has a market cap of $17.52 billion.

The Washington Post Company, a diversified education and media company reported second quarter revenues rose 6% to $1.11 billion from $1.05 billion a year ago. Net loss in the quarter was $2.7 million or 31 cents per share compared to net income of $68.8 million or $7.19 per share, a year ago.

The Washington Post Company (WPO: chart) in the morning trading fell $13.25 to $605.00 and in the last one year traded as high as $885.23 in November 2007 and as low as $551.11 in June 2008. Based on the yesterday’s closing price the company has a market cap of $5.89 billion.

Tidewater Inc, the world''s largest provider of offshore supply vessels to the energy industry reported first quarter revenues rose 11% to $340.1 million from $305.5 million a year ago. Net income in the quarter declined 3.08% to $84.8 million or $1.64 per share compared to net income of $87.5 million or $1.55 per share, a year ago.

Tidewater Inc (TDW: chart) fell $4.54 to $55.41 in the morning trading and in the last one year traded as high as $71.34 in June 2008 and as low as $46.32 in November 2007. Based on the yesterday’s closing price the company has a market cap of $3.08 billion.
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