Goldman Sachs’ earnings fell 53 percent in the fourth quarter due to sharp declines in its bond trading and investment banking businesses.

Goldman Sachs Group Inc. earned .23 billion after paying preferred dividends in the last three months of the year, down from .79 billion in the same period year earlier. On a per-share basis, the earnings came out to .79 per share versus .20 per share.

Analysts surveyed by FactSet expected the bank to earn .76 per share. Revenue fell 10 percent to .64 billion. Goldman fell 2.4 percent to 0.48, leading other financial stocks lower.

The bank’s chief financial officer, David Viniar, attributed the poor performance to “heightened uncertainty surrounding the global economic outlook.” In a conference call with analysts to discuss earnings, Viniar said the uncertainty led to a steady decline in investment banking activity during the year.

Continue reading Goldman Earnings Sink After Buffett Dividend

Goldman Earnings Sink After Buffett Dividend originally appeared on BloggingStocks on Tue, 19 Apr 2011 09:03:00 EST. Please see our terms for use of feeds.

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Filed under: Bank of America (BAC)

Bank of America Corp.’s first-quarter income fell 39 percent on higher costs related to its mortgage business and higher litigation expenses. The bank also settled a claim over faulty mortgage investments and set aside less money to cover soured loans.

The Charlotte, N.C. bank on Friday said it earned .7 billion, or 17 cents per share, compared with .8 billion, or 28 cents a share in the first quarter of last year. The earnings fell short of the 28 cents a share estimated by analysts surveyed by FactSet.

Revenue fell to .9 billion from billion in the same period last year.

The nation’s largest bank by assets also announced that the bank’s chief risk officer, Bruce Thompson, will become chief financial officer, replacing Chuck Noski, who was named vice chairman. Noski couldn’t relocate to Charlotte to fulfill his CFO duties because of an illness of a close family member, the bank said in a statement.

Bank of America continued to fight losses, lawsuits and higher costs related to its mortgage businesses. Its real estate services business reported a loss of .4 billion compared to loss of .1 billion for the same period in 2010.

Continue reading Bank of America Earnings Fall 39%

Bank of America Earnings Fall 39% originally appeared on BloggingStocks on Fri, 15 Apr 2011 08:05:00 EST. Please see our terms for use of feeds.

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Filed under: Google (GOOG)

Google’s first-quarter earnings came in below analyst projections as the Internet search leader sped up hiring, driving up its costs.

The results released Thursday may heighten investor fears that Google’s earnings might suffer because of the company’s commitment to hire at least 6,200 workers this year. That would be the most in Google’s 13-year history.

The company earned .3 billion, or .04 per share, in the period ending in March. That was an 18 percent increase from nearly billion, or .06 per share, last year.

If not for expenses covering employee stock compensation, Google said it would have earned .08 per share. That was below the average estimate of .11 per share among analysts surveyed by FactSet.

Revenue was nearly .6 billion, a 27 percent increase from last year.

Google’s Hiring Spree Weighs on Earnings; Shares Slide originally appeared on BloggingStocks on Thu, 14 Apr 2011 16:26:00 EST. Please see our terms for use of feeds.

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Filed under: Earnings Reports, Alcoa Inc (AA)

Alcoa Inc. (AA) said Monday it turned a first-quarter profit on stronger sales at higher prices that were offset by a weaker dollar and higher costs for energy and raw materials.

Alcoa said business improved from a range of customers, including aerospace, automotive, commercial transportation and packaging industries. It marked the fourth consecutive quarterly profit for Alcoa as it pulled out of two difficult years hit by the recession.

The Pittsburgh aluminum manufacturer also expects business to continue to improve, reaffirming its forecast of a 12 percent increase in global aluminum demand this year.

Continue reading Alcoa Kicks Off Earnings Season With Improved Sales

Alcoa Kicks Off Earnings Season With Improved Sales originally appeared on BloggingStocks on Mon, 11 Apr 2011 16:45:00 EST. Please see our terms for use of feeds.

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Filed under: Earnings Reports, Forecasts, Bed Bath and Beyond (BBBY), Economic Data

The new earnings season doesn’t kick off until Alcoa (AA) reports its first-quarter results on April 11, but a few stragglers are still reporting their earnings for the previous quarter this week. The most prominent earnings reports on tap are Wednesday’s results from Bed Bath & Beyond (BBBY) and from Monsanto (MON). Here’s what analysts surveyed by Thomson Reuters expect to see.

Bed Bath & Beyond

During its fiscal fourth quarter, the nation’s largest domestics retailer opened new stores and its CEO sold shares. Analysts anticipate that the New Jersey-based company will report per-share earnings of 97 cents, an increase of 11.3% from the same quarter of last year. The company also is expected to post revenue of .4 billion for the three months that ended in February, a 6.3% rise from a year earlier.

Continue reading Week in Preview: Bed Bath & Beyond, Monsanto and Pier 1 Earnings

Week in Preview: Bed Bath & Beyond, Monsanto and Pier 1 Earnings originally appeared on BloggingStocks on Sun, 03 Apr 2011 12:30:00 EST. Please see our terms for use of feeds.

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Filed under: Earnings Reports, Forecasts, Family Dollar Stores (FDO), Economic Data

The calendar quarter winds down this week and quarterly reports are due from Apollo Group (APOL), CarMax (KMX), Global Payments (GPN), Krispy Kreme (KKD), Lennar (LEN) and McCormick (MKC). But analysts surveyed by Thomson Reuters have high hopes for results from fertilizer and animal feed maker Mosaic (MOS), apparel maker Phillips Van Heusen (PVH) and discount retailer Family Dollar (FDO). So here’s a look at what they anticipate from these three companies.

Mosaic

During its fiscal second quarter, Cargill agreed to distribute its stake in Mosaic, and Mosaic also said it would redeem senior notes. Analysts anticipate that the Minnesota-based potash producer will report per-share earnings of .07, a jump of 53.3% from the same quarter of last year. Mosaic also is expected to post revenue of .4 billion for the three months that ended in February. That’s a 35.9% rise from a year earlier.

Continue reading Week in Preview: Mosaic, Family Dollar Earnings and March Unemployment Rate

Week in Preview: Mosaic, Family Dollar Earnings and March Unemployment Rate originally appeared on BloggingStocks on Sun, 27 Mar 2011 12:30:00 EST. Please see our terms for use of feeds.

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Filed under: Major Movement, Earnings Reports, Options, Technical Analysis

Accenture (ACN – option chain) shares are rising after the company reported Q2 2011 earnings Thursday night, posting a profit of 3.1 million, or 75 cents per share, on revenue of .49 billion. Analysts had forecast a profit of 71 cents per share on revenue of .73 billion. If you think that the stock won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on ACN.

ACN opened Friday morning at .47. In morning trading, the stock hit a low of .40 and a new 52-week high of .78. As of 12:25, ACN was trading at .91 up 2.95 (5.7%). The chart for ACN looks bullish and S&P gives ACN a positive 4 STARS (out of 5) buy ranking.

Continue reading Accenture’s Q2 Earnings Beat Estimates

Accenture’s Q2 Earnings Beat Estimates originally appeared on BloggingStocks on Fri, 25 Mar 2011 13:30:00 EST. Please see our terms for use of feeds.

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Filed under: Earnings Reports, Competitive Strategy, Wal-Mart (WMT), Amazon.com (AMZN), Target Corp. (TGT), Best Buy (BBY), Recession

Shares of retail giant Best Buy (BBY) traded higher Thursday morning after the company posted better-than-expected earnings for its fourth quarter.

Going into the earnings report, analysts had been expecting to see Best Buy report earnings of .84 per share for the quarter. Best Buy topped estimates by posting earnings of .98 per share.

Continue reading Best Buy Tops Earnings Estimates but Revenues Disappoint

Best Buy Tops Earnings Estimates but Revenues Disappoint originally appeared on BloggingStocks on Thu, 24 Mar 2011 10:50:00 EST. Please see our terms for use of feeds.

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Filed under: Earnings Reports, Competitive Strategy, Wal-Mart (WMT), Amazon.com (AMZN), Target Corp. (TGT), Best Buy (BBY), Recession

Shares of retail giant Best Buy (BBY) traded higher Thursday morning after the company posted better-than-expected earnings for its fourth quarter.

Going into the earnings report, analysts had been expecting to see Best Buy report earnings of .84 per share for the quarter. Best Buy topped estimates by posting earnings of .98 per share.

Continue reading Best Buy Tops Earnings Estimates but Revenues Disappoint

Best Buy Tops Earnings Estimates but Revenues Disappoint originally appeared on BloggingStocks on Thu, 24 Mar 2011 10:50:00 EST. Please see our terms for use of feeds.

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Filed under: Major Movement, Earnings Reports, Forecasts, Good news, Options, Technical Analysis

Jabil Circuit (JBL) shares are rising today after the company reported earnings last night, posting a fiscal-Q2 profit of .4 million, or 25 cents per share. Excluding one-time items, JBL earned 54 cents per share on revenue of .9 billion. Analysts had forecast a profit of 51 cents per share on revenue of .91 billion. JBL also forecast Q3 earnings of 55 to 59 cents per share on revenue of .1 to .2 billion. Analysts are looking for a profit of 54 cents per share on revenue of .04 billion. If you think that the stock won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on JBL.

JBL opened this morning at .42. So far today the stock has hit a low of .10 and a high of .30. As of 12:30, JBL is trading at .00 up 2.07 (10.9%). The chart for JBL looks neutral and S&P gives JBL a neutral 3 STARS (out of 5) hold ranking.

Continue reading Jabil Circuit Reports Strong Q2 Earnings & Q3 Forecast

Jabil Circuit Reports Strong Q2 Earnings & Q3 Forecast originally appeared on BloggingStocks on Wed, 23 Mar 2011 17:30:00 EST. Please see our terms for use of feeds.

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