Thursday: Must Know News

Posted by BobL on 7/16/09 • Categorized as Market News

Earnings: Thursday Before Open

Baxter International (BAX): Q2 EPS of $0.96 beats by $0.02. Revenue of $3.1B (-2.1%) in-line. (PR)
Harley-Davidson (HOG): Q2 EPS of $0.08 misses by $0.16. Revenue of $1.2B (-26.6%) in-line. (PR)
JPMorgan (JPM): Q2 EPS of $0.28 beats by $0.24. Revenue of $27.7B (+2.9%) vs. $25.9B. After repaying $25B of TARP funds, Tier 1 Capital ratio of 9.7%. Extended ~$150B in new credit. Shares +2% premarket (6:50 ET). (PR)
Marriott International (MAR): Q2 EPS of $0.23 beats by $0.02. Revenue of $2.6B (-19.2%) vs. $2.5B. Issues downside guidance: Q3 EPS of $0.09-0.14 vs. $0.20 consensus, FY ’09 EPS of $0.76-0.86 vs. $0.91 consensus. (PR)
MGIC Investment (MTG): Q2 EPS of -$2.74 misses by $1.54. Revenue of $454.5M (+7.1%) vs. $432.9M. (PR)
Nexen (NXY): Q2 EPS of $0.04 misses by $0.26. Revenue of $1.3B (-35.7%). (PR)
Nokia (NOK): Q2 net income of €380M ($0.10/share) vs. consensus of €361M. Revenue of €9.9B (-25%) vs. €10.1B. Sees flat market-share growth, after previously forecasting an increase. Sees margins steady at ~11% vs. a previous forecast of ‘in the teens.’ Shares -7.8% premarket (6:50 ET). (Bloomberg)
Novartis (NVS): Q2 EPS of $0.90 beats by $0.05. Revenue of $10.5B (-1.7%) vs. $10.2B. (Novartis financial report (.pdf))
Sony Ericsson Mobile Communications (SNE, ERIC): Q2 loss of €213M on sales of €1.68B (-40%). Handsets shipped fell to 13.8M from 24.4M a year ago. Says market share fell to 5% from 6%. Gross margin down to 12% from 23% a year ago. (MW)

Earnings: Wednesday After Close

Cintas (CTAS): FQ4 EPS of $0.38 beats by $0.01. Earnings exclude $54 million after-tax charge. Revenue of $879M (-13%) vs. $876M. (PR)
Crown Holdings (CCK): FQ2 EPS of $0.65 beats by $0.01. Revenue of $2B (-6%) in-line. (PR)
Polycom (PLCM): FQ2 EPS of $0.29 beats by $0.01. Revenue of $231M (-15%) vs. $223M. (PR)
Xilinx (XLNX): Q1 EPS of $0.14 misses by $0.05. Revenue of $376M (-23%) vs. $381M. Sees Q2 revenue up 2%-6% sequentially. (PR)

Today’s Markets

Asian markets were mixed, European markets are trending higher and U.S. futures are unsure what direction to take.

In Asia, Nikkei +0.8% to 9,344. Hang Seng +0.6% to 18,362. Shanghai -0.15% to 3,184. BSE -0.02% to 14,250.
In Europe at midday, London +0.4%. Paris +1.2%. Frankfurt +1.1%.
Futures: Dow +0.2%. S&P +0.1%. Nasdaq -0.1%. Crude -1% to $60.97. Gold -0.1% to $938.40.