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Market Update : 
Surprising Rise in Oil Inventories
Author: Elena Todorova
123jump.com
Last Update: 1:02 PM EST December 21 2005


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Joy Global Inc. (JOYG), a provider of mining equipment and services, posted a Q4 net income of 45 cents a share, up from 16 cents a share in the year-ago period, in line with the analysts’ expectations. Net sales for Q4 advanced 36%. Coal prices in the U.S. remain strong, particularly in the Powder River Basin. The non-U.S. coal business will increasingly be driven by the emerging markets of China, Russia and India.

ATI Technologies (ATYT), maker of graphics card, reported an 88% decline in quarterly profit. Adjusted earnings per share came to 10 cents a share, down from 28 cents a share a year ago despite revenue growth, beating analyst forecasts for earnings of 4 cents a share.

FedEx Corp. (FDX), package delivery company, reported Q2 earnings of $1.53 a share, up from a profit of $1.15 a share a year-ago on 10% revenue growth, beating analyst estimate of $1.40 a share. The company stated it saw a sharp improvement in its operating margins to 9.8% from 8.2% a year ago due to strong customer demand and a disciplined pricing approach.

CarMax Inc., (KMX), car seller, reported Q3 earnings of 25 cents a share, up from a profit of 17 cents a share in the year-ago period on 17% sales growth, topping analyst estimate of 21 cents a share. The latest results include a gain of 3 cents a share related to the company''s Auto Finance operations. The company also said it will no longer provide a forecast of its financial outlook on a quarterly basis. Instead, it will only provide an estimate of same-store used unit sales and earnings per share for the full year.


$96.98
1.79%
$29.62
-0.97%
$28.11
2.85%
$25.16
1.78%
$105.22
-0.18%
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