Earnings News Headlines - Yahoo! News

Earnings schedule for week of 5/28/2012

Fri, 25 May 2012 14:26:02 -0400

There are no major companies scheduled to report quarterly earnings next week.

Analysis: HMO stocks may struggle over health claim costs

Fri, 25 May 2012 13:12:45 -0400

NEW YORK (Reuters) - Americans' low use of healthcare services has proved a boon to health insurers over the past two years, reducing medical claim costs and raising profits. The growing view on Wall Street is that those days are over. A series of first-quarter earnings disappointments for health insurers in the past month has damped hopes for a repeat of the profit windfalls that led to huge stock gains in 2011. After digesting the reports, many investors fear that medical claims costs are poised to rise. ...

Moody's cuts Sweden, Norway bank ratings

Fri, 25 May 2012 03:29:07 -0400

International ratings agency Moody's said it has downgraded the ratings on several Swedish and a Norwegian bank by up to two notches, citing concerns over their funding position and modest earnings.

RBC stock drops on lending worry, but TD gains

Thu, 24 May 2012 17:36:19 -0400

TORONTO (Reuters) - Concerns about lending growth and European exposure pushed Royal Bank of Canada's shares down nearly 3 percent to a 2012 low on Thursday, while rival Toronto-Dominion Bank rose slightly after its quarterly profit topped estimates. RBC, Canada's biggest bank, reported a 7 percent drop in second-quarter net profit due to an acquisition-related charge, but its core profit rose 5 percent and its adjusted earnings per share were C$1.17, just shy of analysts' average estimate of C$1.18. ...

Kenya's Sasini H1 profit plunges, Rea Vipingo's up

Thu, 24 May 2012 13:30:31 -0400

NAIROBI (Reuters) - Kenyan tea and coffee producer Sasini said on Thursday its first-half profit plunged 71 percent to 178 million shillings due to rising input costs and lower international prices despite increased revenues. Sasini said its basic and diluted earnings per share fell to 0.78 shillings compared with 1.86 shillings in the same period last year, while revenues rose to 1.37 billion shillings from 1.26 billion a year ago. ...

Bank earnings rebound, but lending slackens

Thu, 24 May 2012 13:20:57 -0400

WASHINGTON (Reuters) - The banking industry enjoyed its highest earnings since the first half of 2007 in the first quarter, but lending slowed, reversing what had been an encouraging trend in loan growth. The Federal Deposit Insurance Corp's quarterly report, released on Thursday, showed the industry earned $35.3 billion in the first quarter, up $6.6 billion, or 22.9 percent, from a year earlier. The increase was largely due to banks setting aside less money to guard against loan losses. ...

Monro Muffler Brake 4Q results miss Street's view

Thu, 24 May 2012 13:15:39 -0400

Car-repair shop operator Monro Muffler Brake Inc. said Thursday that its fiscal fourth-quarter net income climbed 28 percent with higher revenue, especially from opening new stores, but the results and the company's outlook for the current quarter and year's earnings fell short of Wall Street forecasts, and Monro's shares fell.

US bank earnings rose this winter to 5-year high

Thu, 24 May 2012 13:07:00 -0400

U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years and the number of troubled banks fell for the fourth straight quarter.

Wesco Aircraft to buy Canadian fastener supplier

Thu, 24 May 2012 07:17:44 -0400

(Reuters) - Aircraft equipment supplier Wesco Aircraft Holdings Inc said it will buy Canadian fasteners distributor Interfast Inc for C$134 million ($130.32 million) in cash. Wesco said the acquisition will not have a material impact on adjusted earnings in 2012 but will add to earnings from fiscal 2013. Toronto-based Interfast supplies specialty fasteners and other components for the aerospace, electronics and industrial markets. Wesco expects to close the deal toward the end of its third quarter or beginning of the fourth quarter. (Reporting by A. ...

Royal Bank of Canada profit falls on M&A loss

Thu, 24 May 2012 06:49:02 -0400

(Reuters) - Royal Bank of Canada reported a 7 percent decline in quarterly earnings as an acquisition-related loss obscured strength in its domestic banking and capital markets-related businesses. RBC, Canada's largest bank, said on Thursday that net income from continuing operations was C$1.56 billion ($1.52 billion), or C$1.01 a share, in the second quarter ended April 30, compared with C$1.68 billion, or C$1.10 a share, a year earlier. Continuing operations exclude results from RBC's U.S. retail bank, which it agreed to sell last year. Excluding certain items, RBC earned C$1.17 a share. ...

Angola fx reserves at $27.81 bln in April: cbank

Thu, 24 May 2012 06:47:50 -0400

LISBON (Reuters) - Angola's foreign exchange reserves rose to $27.81 billion in April from a revised $26.79 billion in March, the central bank said in a statement posted on its website on Thursday. The central bank had earlier this month said reserves at the end of March stood at $26.77 billion. Angola, which is Africa's second biggest oil producer after Nigeria, depends on crude exports for over 90 percent of its foreign exchange earnings.

Kenyan CFC Stanbic Bank's Q1 profit jumps 61 pct

Thu, 24 May 2012 05:41:09 -0400

NAIROBI (Reuters) - Kenya's CFC Stanbic bank, the main business of CFC Holdings, posted a 61 percent jump in pretax profit for the first quarter, propelled by higher income, it said on Thursday. Ranked among the largest banks in the east African nation, CFC is controlled by South Africa's Standard Bank through CFC Holdings, which also runs a financial services firm. CFC bank, which posted a pretax profit of 813.8 million shillings, nearly doubled its total interest income to just over 3 billion shillings for the period but underperformed its rivals in deposits and lending growth. ...

Africa and Latam thirst for beer drives SABMiller

Thu, 24 May 2012 04:48:33 -0400

LONDON (Reuters) - Strong growth in Africa and Latin America helped global brewer SABMiller offset a fall in beer drinking in Europe and North America, as the Grolsch and Peroni maker beat forecasts with a 12 percent rise in full-year earnings. The world's second biggest brewer earns 70 percent of its profit from fast-growing emerging markets, which helps insulate it from tough mature markets where hard-pressed consumers are economising at the bar and drinking less beer at home. ...

HP's missteps culminate in loss of 27,000 jobs

Thu, 24 May 2012 00:15:20 -0400

Hewlett-Packard CEO Meg Whitman has quantified the painful price that must be paid for the missteps of her predecessors as she tries to turn around the Silicon Valley pioneer. The bungling will wipe out 27,000 jobs so HP can save enough money to lift its earnings and invest in the development of more profitable products and service.

A look at recent tech-industry earnings

Wed, 23 May 2012 18:00:51 -0400

Here is a summary of recent earnings and reports for selected technology companies and what they reveal about the state of spending and the overall economy:

S.Africa stocks at 4-1/2 month low on Europe

Wed, 23 May 2012 11:58:07 -0400

JOHANNESBURG (Reuters) - South African stocks tumbled to a 4-1/2 month low on Tuesday as skittish investors dumped index heavyweights such as Lonmin, as part of a global equity sell-off on nagging concerns about the European debt crisis. Retailers were also hit, with South Africa's third-largest listed clothing retailer, Mr Price Group, dropping 5.4 percent to 96.48 rand after the $3 billion company booked full-year earnings largely in line with expectations. The benchmark Top-40 index was down 1.9 percent at 28,971.82, its lowest since early January. The All-Share skidded 1. ...

Facebook told analysts to cut forecasts before IPO

Wed, 23 May 2012 11:02:38 -0400

(Reuters) - As Facebook Inc officials traveled the country to talk up the company's $16 billion initial public offering, the social networking giant advised analysts for underwriters to reduce revenue and earnings forecasts, according to people with direct knowledge of the matter. The advice came around May 9, the day the company published an amended prospectus that included a cautionary note about how Facebook's users were increasingly using mobile devices, which generate less advertising revenue for the company. ...

Hhgregg fiscal 4Q profit jumps on insurance payout

Wed, 23 May 2012 10:21:23 -0400

Hhgregg Inc.'s fiscal fourth-quarter earnings swelled as the electronics and appliance retailer collected $39.6 million in life insurance proceeds due to the death of executive chairman and former CEO Jerry W. Throgmartin.

S.Africa's Mr Price FY posts in-line FY profit

Wed, 23 May 2012 09:18:08 -0400

JOHANNESBURG, MAY 23 - South Africa's third-largest listed clothes retailer Mr Price Group Ltd booked an expected 19 percent rise in full-year profit on Wednesday, as above-inflation wage increases and decades-low interest rates lift consumer spending. Mr Price, which caters for lower-income shoppers in Africa's top economy, said diluted headline earnings per share totalled 464.5 cents in the year to end-March, largely in line with an average estimate of 463.3 cents in a poll of 12 analyst by Thomson Reuters. ...

Canaccord has loss on lower revenue, higher costs

Wed, 23 May 2012 08:36:27 -0400

TORONTO (Reuters) - Canaccord Financial Inc reported a fiscal fourth-quarter net loss on Wednesday, hurt by lower revenues from its trading and investment banking businesses, and higher costs tied to restructuring and acquisition-related items. The Toronto-based financial services provider reported a net loss of C$31.8 million, or 42 Canadian cents a share, for the quarter ended March 31. A year earlier, it posted profit of C$41.3 million, or 49 Canadian cents a share. Excluding one-time items, the company reported earnings of C$2. ...

MetLife to outline growth plan, eyes emerging markets

Wed, 23 May 2012 02:06:02 -0400

(Reuters) - MetLife Inc , the largest U.S. life insurer, said it plans to refocus its U.S. business and will seek to grow in emerging markets as part of a strategic plan that is set to be unveiled later on Wednesday. By 2016, MetLife said it expects to increase its return on equity to between 12 percent and 14 percent, and will aim for emerging markets to account for 20 percent or more of total operating earnings. ...

Facebook advised analysts to cut forecasts before float

Wed, 23 May 2012 01:43:29 -0400

(Reuters) - As Facebook officials traveled the country to talk up the company's $16 billion initial public offering this month, the social networking giant advised analysts for underwriters to reduce revenue and earnings forecasts, said people with direct knowledge. Facebook decided to tell analysts to cut estimates due to feedback during the investor roadshow which revealed users were opting for mobile devices which generate less advertising revenue and after consulting with its adviser Morgan Stanley "Facebook backed off and said, 'Hey get your models down. ...

The numbers on the Facebook earnings revisions

Wed, 23 May 2012 00:54:07 -0400

SAN FRANCISCO (Reuters) - Four of Facebook's major underwriters -- Morgan Stanley, Goldman Sachs, JPMorgan and Bank of America -- reduced their financial estimates for the soon-to-be-public company following the release of a revised prospectus on May 9 that noted the negative impact of mobile users on Facebook's business. While Facebook did not provide any specifics in its amended S-1 filing, the four underwriters reduced their earnings and revenue estimates for both the second quarter of 2012 and the full year within the next two days, according to sources. ...

Key stats of Facebook, Apple, Google

Tue, 22 May 2012 18:15:38 -0400

Key financial statistics for Facebook, Apple and Google. Projections for 2012 are among analysts surveyed by FactSet. Price-to-earnings ratios are based on Tuesday's close.

Altria will pay $500M to resolve IRS dispute

Tue, 22 May 2012 17:45:18 -0400

Marlboro maker Altria Group Inc. said Tuesday that it has resolved a tax dispute with the IRS and is revising its full-year earnings forecast to reflect the agreement.