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Posts Tagged ‘earnings news’

October 22nd, 2009

Stocks Drop Despite Earnings

(Lee Siler) - Stocks took a hit yesterday despite a slew of positive earnings news. It appears that the recent run up in stocks prices was in anticipation of a better than expected third quarter with regards to profits. It is ominous that the market can't seem to chug higher in the midst of terrific quarterly reports. With about 25% of the S&P 500 reporting earnings, approximately 79% of companies have beat analysts' expectations. That is itself is much better than average.

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August 13th, 2009

Stocks Break Two-day Losing Streak

(Lee Siler) - Positive earnings news out of Wal-Mart is being over shadowed by surprisingly negative news in the over-all retail sector. The world's largest retailer reported flat earnings from the previous year, but beat analysts' expectations. Wal-Mart's quarterly profit came in at 88 cents a share versus the 85 cents Wall Street was expecting. Cost cutting measures helped the retail giant achieve higher profit margins as well. What's more, the company raised the lower end of their profit guidance. On the news, Wal-Mart is trading higher in the pre-market.

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July 16th, 2009

Fed Comments Help Stocks

(Lee Siler) - The market had one of the best days of the year on brisk trading. Earnings news is adding fuel to this market and this morning JP Morgan Chase is the accelerant. The company announced that strength in their core consumer business and investment banking offset a jump in credit losses. Earnings were 28 cents a share versus estimates of only 4 cents. However, revenues fell slightly short of expectations. JPM is traded up almost 4.5% yesterday.

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July 15th, 2009

Intel Beats, Market Rallys

(Lee Siler) - Intel, the world's largest computer chip company surprised everybody on Wall Street by significantly beating analyst's estimates on both earnings and revenues.

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July 14th, 2009

Goldman and J & J Beat

(Lee Siler) - So far earnings season has started out with a bang. Alcoa got things started by beating estimates last week. Then this morning all eyes were on Goldman Sachs, which their results knocked the cover off the ball. The company reported a 33% rise in quarterly profits on very strong trading results. Certainly a good second quarter for the stock market helped buoy their report. Remember, last month Goldman paid back the TARP money they borrowed and is now the last investment bank standing. Earnings came in at $4.93 a share versus First Call estimates of $3.54 a share. This earnings report was no surprise to Wall Street, as the stock traded up over $8 a share yesterday in anticipation of a blow out number.

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