Major Corporate & Economic Events, Feb. 18
FRIDAY, Feb. 18
Extended-Hours Earnings: AGP, B, BRC, CPN, CPB, CMED, DLR, GFI, LPNT,
NVE, PGN, WIN, YGE, YTEC.
NYSE up 34.72 (+0.4%) to 8,418.39
DJIA up 29.9 (+0.2%) to 12,318
S&P 500 up 4.11 (+0.3%) to 1,340
Nasdaq up 6.02 (+0.2%) to 2,832
Hang Seng up 0.63%
Nikkei up 0.26%
FTSE up 0.03%
WMB beats with earnings, announces dividend, splitting in two cos.
CAB gains on financial results.
HEB settles class action lawsuit.
WTW beats with results, guidance.
DUK gains after earnings beat.
RBCN continues evening gain that followed upbeat earnings, guidance.
TBL beats with Q4 earnings.
NVDA downgraded this morning after late-Wednesday earnings
OREX says CFO to resign.
NTAP continues evening decline that followed results, guidance.
ANAD disappoints with guidance.
Tech shares were leading gainers. Nvidia (NVDA) was up sharply after an
upbeat revenue forecast. Its results follow positive figures from Dell
(DELL) earlier this week.
Crude futures closed higher. A report that two Iranian warships were
sailing toward the strategic Suez Canal helped to boost oil prices — and
energy shares. The news weighed on stocks earlier, with civil unrest in
the Middle East increasing.
A trio of U.S. economic reports offered a mixed picture. The Philadelphia
Federal Reserve said its index of Mid-Atlantic business activity rose in
February to its highest level since January 2004. The index rose to 35.9
in February from 19.3 in January–higher than the 20.8 expected by
Meanwhile, U.S. consumer prices rose a seasonally adjusted 0.4% in
January, the Labor Department reported Thursday, driven by higher food
and energy expenses. The core consumer price index, which strips out
volatile food and energy costs, rose 0.2%. Economists surveyed by
MarketWatch had forecast CPI to rise 0.3% overall, with a 0.1% increase
in the core rate. Consumer prices are up 1.6% over the last 12 months.
Also reported today, first-time applications for U.S. unemployment
benefits rose last week by 25,000 to 410,000, the Labor Department
reported. Economists polled by MarketWatch had expected initial claims in
the week ended Feb. 12 to rise to a seasonally adjusted 400,000 from a
revised 385,000 the week before.
Citigroup (C) Bloomberg reported that the bank granted options on $18.2
million shares to 15 executives as a part of their 2010 pay. Among the
executives receiving options are COO John Havens, head of consumer
banking for the Americas Manuel Medina-Mora and CFO John Gerspach.
Shares of Coca-Cola Co. (KO) wsaid its board boosted the company's
dividend by 7% to 47 cents a share from 44 cents. Shareholders of record
on March 15 will be paid the dividend on April 1.
Strayer Education (STRA) reports Q4 revs of $172 mln, about in line to
just lower than the Street view of $173 mln on Thomson Reuters. EPS was
$2.73, eight cents better than the analyst consensus.
J.M. Smucker (SJM) reports adjusted Q3 EPS of $1.27 compared to $1.17 a
year earlier and just topping the Thomson Reuters mean analyst estimate
for $1.26. Sales for the quarter improved to $1.3 billion from the $1.2
billion recorded in the same period a year earlier. The Street looked for
TRW (TRW) reports Q4 sales of $3.7 bln, ahead of the analyst consensus of
$3.48 bln on Thomson Reuters. EPS was $1.72, vs. expectations of $1.24
Build-A-Bear (BBW) reports Q4 revenue of $125.8 mln, up from $123.1 mln
in the year ago quarter and about in line with the Street view. Earnings
were $0.44 per share, including items, up sharply from a year ago loss of
$0.05 per share, including items. The Street view was $0.26 per share, ex
Duke Energy (DUK) reports adjusted Q4 EPS of $0.21 compared to $0.28 a
year earlier and the Thomson Reuters mean analyst estimate for $0.23.
Operating revenue of $3.4 billion is up from $3.1 billion a year earlier.
The Street was at $3.15 billion.
Barrick Gold (ABX) reported Q4 EPS of $0.95, up from $0.61 per share in
the year ago quarter and better than the Street view of $0.84 per share.