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Market Update : 
Oil and Retailers Contribute to Profit Raking
Author: 123jump.com Staff
123jump.com
Last Update: 4:04 PM ET August 04 2005


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After three positive days of trading market averages took a breather. Unemployment claims report, disappointing July retail sales and higher oil price led market decline. Teenage retailers remain star of the retail sales. Abercrombie, Urban outfitters, American Eagle keep taking market share away from Limited, Gap and other established store chains.

 
Talbots, apparel retailer, posted 2Q 12% sales growth of $449.6 million and 6.7% same-store sales increase. The company raised its quarterly earnings to the range of 33 to 34 cents a share, up from 28 to 32 cents.

Chico’s FAS, specialty retailer, reported 15.7% same-store sales rise. The company projected 2Q earnings between 26 and 27 cents a share.

WPS Resources, electric power and gas provider, posted 2Q net income jump of 62 cents per share , up from 12 cents a year ago on expanded markets and favorable prices.

Gillette, consumer products manufacturer, reported 2Q earnings increase of 49 cents a share compared with 42 cents last year on 13% sales growth and favorable exchange rates. The company is being acquired by Procter & Gamble.

Top Tankers, oil tanker shipping company, reported 2Q profit decline of 49 cents compared with 95 cents for the comparable quarter last year on revenue growth of $56.3 million.

Ipayment, credit provider, posted 2Q profit increase of 43 cents a share vs. 32 cents a year earlier on doubled revenue of $181.14 million, missing estimates by a penny.

Sypris Solutions, diversified technology-based outsourced services provider, posted 2Q earnings of 11 cents a share, flat with year-ago results, beating analysts' estimate by a penny.

MedCath, heart hospitals operator, posted 3Q net income of 14 cents a share, up vs. 7 cents a share a year earlier on higher patient volumes, missing expectations of 20 cents a share.

Wet Seal, a specialty retailer, posted July net sales of $37.6 million, up vs. $32.7 million for the same period last year, with comparable-store sales rise of 50.9% for the cited period, compared with a decline of 14.7% a year ago.

Sunrise Senior Living, provider of senior living services, posted 2Q earnings of 46 cents a share, down vs. 66 cents in the same period a year earlier, beating analyst estimate of 37 cents a share.

Finlay Enterprises, a fine jewelry retailer, announced that same-store sales rose 0.1% in 2Q with a total sales increase of 5.9% to $199.8 million.

Biovail, drug maker, posted 2Q earnings of 2 cents a share, down vs. 28 cents a share in the same period last year, despite revenue growth, missing analysts' expectations of 26 cents a share.

Harrah's Entertainment, operator of gambling casinos, posted 2Q earnings of 84 cents a share, up vs.79 cents in the same period a year ago, despite reporting record 2Q revenues, missing analyst estimate of 93 cents a share.


GPC Biotech, genomics and proteomics developer, posted a 2Q net loss of 53 euro cents per share, vs. a net loss of 43 euro cents per share in the year-ago comparable period on revenue decline.

Newcastle Investment, real estate investment trust, reported 2Q profit of 64 cents per share, up vs. 51 cents per share a year ago on strong revenue, matching analysts’ expectations of 64 cents per share.

Tesco, supermarkets, hypermarkets, and convenience stores operator, posted 2Q net income of 10 cents per share vs. a net loss of 4 cents per share in the same quarter a year earlier on revenue growth.

Gold Fields, gold exploration and development company, posted 4Q net earnings of 8 cents per share, up vs. 4 cents a share last year on revenue growth, topping analysts’ estimate of 3 cents per share.

AIXTRON, chip equipment maker, posted 2Q net loss of 2 euro cents per share vs. a net income of 1 euro cent per share in the same period last year, despite a rise in revenue.

Pengrowth, oil and natural gas company, posted 2Q net income of C$0.34 per unit, up vs. C$0.24 per unit in the comparable quarter a year earlier on strong oil and gas sales.
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