Today's was a big day of earnings across the street so I wanted to do another earnings review and summarize what came about from those all-important earnings releases.
Earnings Review November 7th
- Foster Wheeler Limited (Nasdaq:FWLT) FWLT reported earnings that blew away wall street estimates and painted a very healthy picture for the future of the company.
- McDermott International (NYSE:MDR) McDermott disappointed investors with lower than expected revenue. Its offshore energy business showed continued strength and the backlog did grow from a year ago.
- Cisco Systems Inc. (Nasdaq:CSCO) The biggest report of them all today turned out to be a big letdown. Cisco beat estimates slightly, but the guidance and comments from the CEO were not impressive to investors. CEO John Chambers said that the US business is experiencing some softness and that it may well continue for a while.
- Polo Ralph Lauren Corporation (NYSE:RL) Polo reported better than expected results and said that their high-end consumers appear to be continuing to spend nicely.
- Yamana Gold (NYSE:AUY) Yamana reported earnings that fell four cents short of wall street estimates after the bell today.
- Sara Lee (NYSE:SLE) Sara Lee reported profits that were 40% lower than the same period last year. The company spent huge money on marketing costs that held down the profit.Controlling costs across the board continue to be a real problem at SLE.
- DIRECTV Group (NYSE:DTV) DTV missed estimates by 2 cents, but provided some guidance that wall street really liked. The company reported a drastic increase in new subscribers as well as a lower rate of customers dropping the service.
- First Solar (Nasdaq:FSLR) First Solar smashed expectations by reporting 58 cents per share when analysts were looking for just 19 cents. A surprise of that magnitude is nearly unheard of, and investors are bidding up the stock quickly in afterhours trading.
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