Company Results
Intel posts $8 billion revenue for Q2, beats forecast
The chip giant Intel Corp has reported better-than-expected $8 billion revenue for the second-quarter, signifying better demand for PCs in the Asia Pacific and China.
Intel's revenue results for the second quarter has become like a silver lining in the dark clouds as analysts had expected sales worth $7.28 billion.
Janus CEO Gary Black resigns; the firm reports 76% fall in Q2 profit
Gary Black, CEO of Janus Capital Group, has resigned with effect from Monday; and the mutual fund’s Capital Director Tim Armour has been named the interim CEO.
Railroad company CSX reports 20% fall in Q2 profit
As a result of dropped shipments and fewer fuel surcharges collected, railroad company CSX has reported a 20 percent fall in its second-quarter profit, with revenue and margins having declined. Nonetheless, the results still surpassed the Wall Street expectations, as the company cut costs by 27 percent.
Dell says IT demand stabilizing; to post sequential increase in Q2 sales
In what can be termed as a 'mixed' message to the investors, the Round Rock, Texas-based, world's second ranking computer seller, Dell Inc has said that while the stabilizing demand would bring about a sequential increase in sales in the ongoing quarter, there would be a "modest" decline in the profitability of the company.
Philips Electronics returns to profitability; expects upturn in business
Citing improved margins brought about by cost-saving measures, insurance recoveries and legal settlements, the Amsterdam-based conglomerate Philips Electronics NV surprised the market on Monday with its return to profit in the second quarter that ended June 30!
Costco Wholesale’s comparable sales drops 6% for June
Costco Wholesale Corp., Warehouse club operator said Thursday that its comparable sales for June plunged 6 percent.
Earlier, analysts had also projected its same-store sales to drop 6 percent.
The Issaquah, Washington, D. C.-based Company said total sales for the period ended June slipped 4 percent to $6.88 billion.
Hansen Medical forecasts lower-than-expected Q2 revenue
Saying that the economic slump has resulted in the customers’ decision to postpone the purchase of its Sensei Robotic Catheter systems, Hansen Medical Inc has projected a significantly lower-than-expected second-quarter revenue.
Constellation Brands posts 85% drop in Q1 profit; maintains 2010 forecast
An 85 percent drop in fiscal first-quarter profit has been reported by the world's biggest wine and spirits maker and distributor - Constellation Brands Inc. Citing restructuring costs as the reason for the plunge in profits, the thus far supposedly recession-resistant Constellation said that the earnings' figures still topped estimates by the Wall Street analysts by 1 percent!
Hertz Global projects Second Quarter profit above market estimates
Car rental firm Hertz Global Holdings Inc. projected quarterly profit above market estimates amid increased cost savings.
Hertz Global Holdings Inc. is optimistic about demand in the market and its outlook for summer reservations has improved as it foresees stabilized U. S. and European demand.
Fashion giant H&M reports 6% rise in Q2 profit
Hennes & Mauritz, the world's third-biggest clothing retailer by sales, reported a higher than expected 6 percent rise in its second quarter profits, beating earlier forecasts. Sweden-based fast-fashion giant, Hennes & Mauritz, said sales in stores open for at least a year plunged 2 percent in the three months to the end of May, easing from a 5 percent drop the previous quarter.
Lennar Corp. posted a loss of $125.2 million, U.S. Homebuilder’s Sales Drop
U. S. third-largest homebuilder, Lennar Corp posted a huge loss for the second quarter as sales fell and the company wrote down the value of its assets.
Lennar Corp. posted a loss of $125.2 million, or 76 cents a share for the second quarter, compared with a loss of $120.9 million, or 76 cents a share a year ago.
Linux distributor Red Hat reports 7 percent increase in profits
Raleigh-based commercial Linux distributor, Red Hat Inc. reported a 7 percent increase in its fiscal first-quarter profit, kicking an industry trend of declining earnings.
Inventory overhaul made Walgreen’s profit sink
The drugstore chain, Walgreen Co. has posted a bigger-than-expected 8.7% fall in its third quarter earnings.
The fresh look of drugstore chain has cost about $30,000 to $50,000 to implement in each store.
JM Smucker posts better-than-expected Q4 results
The maker of jams, jellies and Jif peanut butter, J.M. Smucker Co., has posted its fiscal fourth-quarter profit registering more than double growth, beating market expectations.
Smucker has primarily been helped by its Folgers coffee business, which has further raised its 2010 profit outlook.
RIM Posts Sales Boost, Confident About 2nd Half
Research-in-Motion-Blackberry.JPG
The BlackBerry maker, Research In Motion announced a boost in sales and earnings for its fiscal Q1.
The jaunty demand for smartphones did well to the Canadian company's sales and earnings.
As per company's statement its fiscal Q1 earnings rose 33%, to $1.12 a share, as sales jumped 53% as compared to the last year.
Smithfield Foods posts smaller-than-anticipated quarterly loss
Despite the high cost of feed hammering the country's hog production unit Smithfield Foods Inc., the largest US hog producer and pork processor Tuesday posted a smaller-than-anticipated fiscal fourth-quarter loss, due to stable pork sales.
Remy Cointreau posts 14.2% drop in 2008-09 operating profit
Citing difficult economic conditions, French wines and spirits group Remy Cointreau Wednesday posted a 14.2 percent drop in its full-year 2008-09 current operating profit to 137 million euros. The group's earnings for the year plunged 12.7 percent - from the earlier year's 817.8 million euros to 714.1 million euros.
Quarterly profit of jewelry retailer Tiffany plunges 62%
The quarterly profit of the New York-based jewelry retailer Tiffany & Company plunged a whopping 62 percent, largely because consumers cut back on luxury purchases leading to a sharp drop in sales, especially in the US.
