Tuesday, November 10, 2009

Stock Earnings Announcements November-10-09

Among the companies whose shares are expected to actively trade in Tuesday's session are MBIA Inc. (MBI), Anthracite Capital Inc. (AHR) and Beazer Homes USA Inc. (BZH).

MBIA's third-quarter loss narrowed slightly as losses in the insurance business were greater than expected and the housing downturn continued to cause asset losses. Shares sank 12% to $4.22 in pre-market trading as the bond insurer posted its fifth quarterly loss in the past two years.

Anthracite Capital warned its future is in jeopardy, ending the third quarter with just $297,000 of unrestricted cash and cash equivalent and failing to meet credit-line payment requirements. Shares dropped 21% to 61 cents premarket.

Beazer Homes swung to a profit in its fiscal fourth-quarter on a gain from repaying debt early as the home builder's orders rose and margins improved. Shares jumped 9.8% to $5.15 premarket.

Priceline.com Inc.'s (PCLN) third-quarter earnings nearly quadrupled on a tax-related gain while bookings rose by one-third and results trumped the company's already-optimistic expectations. The online travel-booking company also projected fourth-quarter earnings above expectations, helping shares leap 11% to $192 in premarket trading.

Lions Gate Entertainment Corp. (LGF) swung to a fiscal second-quarter profit - its second in a row after three losses - bolstered by strong gains from television production, the TV Guide acquisition and lower marketing costs. Wall Street applauded the results, sending Lions Gate's shares up 5.2% to $5.69 in after-hours trading.

Electronic Arts Inc.'s (ERTS) fiscal second-quarter loss widened as the market for video games remained weak, prompting a fiscal-year outlook for earnings and revenue that missed expectations. The firm also will cut 1,500 jobs, of about 9,000, in a restructuring aimed at trimming at least $100 million in costs. Shares fell 3.8% to $18.78 in premarket trading.

JA Solar Holdings Co. (JASO) swung to the black in the third quarter amid a prior year investment write-down as shipments hit a record and the Chinese solar-cell maker sees brighter prospects. Results were much better than expected, sending shares up 6.3% to $4.38 premarket.

Developers Diversified Realty Corp. (DDR) Tuesday said it may sell as much as $200 million in common stock from time to time over the next three years through Bank of New York Mellon Corp. (BK). Shares slid 1.7% to $8.50 premarket.

United Rentals Inc. (URI) plans to sell $150 million in convertible senior unsecured notes and a unit will sell $400 million in senior unsecured notes in separate public offerings. Moody's Investors Service downgraded the unit's ratings one step deeper into junk territory at B3, saying its financial performance is likely to remain weak. Shares of the company fell 9.3% to $8.95 in after-hours trading.

Hologic Inc. (HOLX)
swung to a fiscal fourth-quarter profit on a sharp drop in costs as the diagnostic-technology company named a new chief executive. The latest results slightly beat analysts' expectations, but Hologic's outlook for the new fiscal year sent shares 1.7% lower to $15.06 premarket.

Fluor Corp.'s (FLR) third-quarter profit slid 11%, falling short of analysts' estimates, as weakness in the oil-and-gas segment offset earnings growth in most of the company's other divisions. Fluor also lowered its earnings view for the year, helping push shares down 6% to $45.15 in premarket trading.

Rackspace Hosting Inc.'s (RAX) third-quarter profit grew 45% on higher margins and another double-digit improvement in revenue. Shares rose 7.5% to $19.70 premarket as earnings were in line with expectations and revenue results topped estimates.

GT Solar International Inc.'s (SOLR) fiscal second-quarter profit declined 66% as the solar company posted lower revenue and margins after a year of surging growth. Shares dropped 5.2% to $5.25 after hours.

Stifel Financial Corp.'s (SF) third-quarter earnings rose 73%, as the Midwest investment bank posted a healthy increase in transaction revenue. Results topped Wall Street estimates and shares grew 1.9% to $54.

Watch List:

Clear Channel Outdoor Holdings Inc. (CCO) swung to a third-quarter loss on lower revenue and higher income taxes as well as a securities loss. The billboard company missed expectations for earnings and revenue.

Fossil Inc.'s (FOSL)
third-quarter earnings fell 3.3%, coming in well above its guidance, prompting the watch and fashion-accessories retailer to boost its forecast for the rest of the year.

Hewitt Associates Inc.'s (HEW) fiscal fourth-quarter profit more than doubled, helped by cost-cutting and the absence of year-ago charges. The human-resources services provider, whose results beat expectations, also set stronger-than-expected targets for the new fiscal year.

Live Nation Inc.'s (LYV) third-quarter profit dropped while Ticketmaster Entertainment Inc.'s (TKTM) rose, and the ticket and concert promoter companies said they expect their merger to be completed in the first quarter.

NBTY Inc.'s (NTY) fiscal fourth-quarter earnings more than tripled, topping analysts' expectations. The nutritional-supplement maker and retailer saw a 12% increase in sales and said October had grown sequentially.

Tyco International Ltd.'s (TYC) fiscal fourth-quarter profit slid 53% amid prior-year earnings from discontinued operations while the company saw double-digit drops in revenue among most of its business segments. Results fell less than analysts expected.

WebMD Health Corp. (WBMD) boosted the price in its stock buyback effort by $1 a share as the health information service provider launched its plan to cut shares outstanding by 5.7%.

Beazer Homes USA Fourth-Quarter Earnings November-10-09

Beazer Homes USA said Tuesday it posted a fourth-quarter profit despite a plunge in revenue, thanks to a large gain on the prepayment of debt.
The Atlanta homebuilder said it saw "some moderation" in weak market trends, and the company's stock rose nearly 7 percent in premarket trading.
Beazer also said that despite low interest rates and a federal tax credit for first-time buyers, factors such as high unemployment and rising foreclosures make it difficult to predict when the housing market will recover.
Net income for the period ended Sept. 30 totaled $33.8 million, or 84 cents per share. That compares with a loss of $473.9 million, or $12.29 per share, a year earlier. Excluding discontinued operations, earnings amounted to 87 cents per share.
The latest quarter includes pretax gains totaling $89.3 million on the early extinguishment of debt.
Revenue fell 42 percent to $376.3 million from $649.8 million.
On average, analysts expected a loss of $1.24 per share on revenue of $338.3 million, according to a survey by Thomson Reuters.
New home orders rose 2.4 percent from a year earlier, while the cancellation rate improved to 34.7 percent from 46.3 percent.