Wall Street Breakfast: Must-Know News

Wall Street Breakfast: Must-Know News

by SA Editor Eli Hoffmann

Earnings: Thursday Before Open

Earnings: Wednesday After Close

• Alliance Data Systems (ADS): Q3 EPS of $0.91 misses by $0.25. Revenue of $511M (+3.9%) vs. $524M. Shares +6%. (PR)
• Allstate (ALL): Q3 EPS of -$0.35 vs. $0.72 consensus. Revenue of $7.32B (-18.6%) vs. $6.32B. "We expect volatile financial markets and tough economic conditions to persist for some time." Shares +3.1%. (PR)
• Amazon.com (AMZN): Q3 EPS of $0.27 beats by $0.02. Revenue of $4.26B (+30.7%) in-line. Sees Q4 revenue of $6-7B vs. $7.05B. Kindle titles now account for more than 10% of unit sales for books that are available in both digital and print formats. Shares -14%. (PR)
• Amerigroup (AGP): Q3 EPS of $0.74 beats by $0.23. Revenue of $1.12B (+8.8%) in-line. Shares +4.7%. (PR)
• Amgen (AMGN): Q3 EPS of $1.23 beats by $0.15. Revenue of $3.88B (+7.3%) vs. $3.7B. Shares +4.4%. (PR)
• Anadigics (ANAD): Q3 EPS of $0.00 in-line. Revenue of $58.1M (-27.9%) vs $62.8M. Sees Q4 EPS of -$0.12 to -$0.14 vs. $0.02. Shares -17.8%. (PR)
• Baidu.com (BIDU): Q3 EPS of $1.47 beats by $0.19. Revenue of $135M (+104.2%) in-line. Shares -3%. (PR)
• Chipotle Mexican Grill (CMG): Q3 EPS of $0.59 in-line. Revenue of $340M (+18.9%) in-line. Announces a $100M share repurchase program. Shares +2.2%. (PR)
• Cirrus Logic (CRUS): FQ2 EPS of $0.15 beats by $0.06. Revenue of $53.3M (+13.4%) vs. $52M. Shares +15.5%. (PR)
• Cohen & Steers (CNS): Q3 EPS of $0.20 misses by $0.05. (PR)
• F5 Networks (FFIV): FQ4 EPS of $0.24 beats by $0.04. Revenue of $171M (+3.4%) in-line. Shares +7.7%. (PR)
• Intersil (ISIL): Q3 EPS of $0.44 beats by $0.04. Revenue of $219M (+10.3%) in-line. Sees Q4 EPS of $0.22-0.26 vs. $0.41. Shares +9.9%. (PR)
• Lam Research (LRCX): FQ1 EPS of $0.26 beats by $0.01. Revenue of $440M (-35.6%) in-line. Shares -3.4%. (PR)
• Noble (NE): Q3 EPS of $1.47 beats by $0.13. Revenue of $862M (+8.9%) vs. $871M. Shares +3.1%. (PR)
• Plantronics (PLT): FQ2 EPS of $0.41 beats by $0.02. Revenue of $217M (+4.2%) in-line. Sees FQ3 EPS of $0.25-0.33 vs. $0.46. Shares -8.1%. (PR)
• Pulte Homes (PHM): Q3 EPS of -$1.11 misses by $0.63. Revenue of $1.56B (-36.7%) vs. $1.53B. Impairments and land-related charges of $267M. Backlog = 5,885 homes. Shares -4.5%. (PR)
• Robert Half International (RHI): Q3 EPS of $0.43 in-line. Revenue of $1.16B (-1.6%) in-line. "Our third-quarter results clearly were impacted by the turmoil in the global financial markets... Clients became increasingly cautious with their hiring actions as the quarter progressed." (PR)
• Ryland Group (RYL): Q3 EPS of -$1.15 misses by $0.27. Revenue of $544M (-26.2%) vs. $512M. New orders of 1,284 units is down 31.6% Y/Y. (PR)
• Seagate Technology (STX): FQ1 EPS of $0.26 beats by $0.04. Revenue of $3.03B (-7.7%) vs. $3.16B. Shares -4.7%. (PR)
• SLM Corp. (SLM): Q3 EPS of $0.19 vs. consensus of $0.36. SLM increased its loan-loss provisions amid an increase in private-loan delinquencies. (PR)
• Smurfit-Stone Container (SSCC): Q3 EPS of -$0.08 misses by $0.04. Revenue of $1.88B (-0.3%) in-line. Shares +36.8% after dropping 24% in regular hours. (PR)
• Teradyne (TER): Q3 EPS of $0.09 misses by $0.03. Revenue of $297M (-0.7%) in-line. Sees Q4 EPS of -$0.18 to -$0.07 vs. $0.06 and revenue of $190-220M vs $272M. (PR)
• Terex (TEX): Q3 EPS of $1.08 misses by $0.25. Revenue of $2.51B (+14.5%) vs. $2.43B. Shares -4.3%. (PR)

Today's Markets

• Asia markets were sharply lower Thursday. Nikkei -2.46% to 8,461. Hang Seng -3.55% to 13,760. Shanghai -1.07% to 1,876. BSE Sensex -3.92% to 9,772.
• Europe is trading down at midday. London -1.74%. Paris -3.21%. Frankfurt -3.69%.
• After spending most of the night in positive territory, U.S. futures are now near their lows. Dow -0.48% to 8516. S&P -0.72% to 896.25. Nasdaq -0.9%.
• Crude +1.68% to $67.87. Gold -4% to $705.80.

Thursday's Economic Calendar

• 8:30 Jobless Claims
  10:35 EIA Natural Gas Report
  4:30 PM Money Supply

Seeking Alpha editor Rachael Granby contributed to this post.

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