Blue chip technology leader IBM (IBM) excited the US stock trading markets with an exciting first quarter earnings report. First quarter profits jumped a remarkable 26% for the Armonk, New York based company. It also blew away analyst estimates for the quarter, which is always a motivator for trading portfolio additions. For it fiscal first quarter, IBM reported earnings of $2.32 billion, which amounts to $1.65 per share. During its first quarter in 2007, the company netted a profit of $1.84 billion, or $1.21 per share. This was a significant boost for the bell weather in the midst of a generally floundering US economy. IBM has long been a staple of many long-term stock trading strategies based on its consistency and income performance.
Acuity Brands (AYI) Boasts Impressive Q2 Profits
Acuity Brands (AYI) is a leading lighting equipment maker based out of New York. The company recently announced a sharp rise in its second quarter profits. Net income for the quarter was $34.1 million, or 82 cents per share. This strong performance led to an immediate stock trading surge as stock investing picked up after the report. What really gave the stock help was that it bested analyst expectations by 14 cents per share. This is an incredibly strong topping of expectations, which always heightens interest in trading portfolio additions. Revenue for the quarter was $482.6 million, significantly more than the $470.2 million analysts predicted.
Mitchum Industries (MIND) Smashes Q4 and Annual Numbers
Houston based Mitchum Industries (MIND), a geophysical equipment maker, announced fourth quarter and annual 2008 record earnings results. The company smashed analyst estimates of 27 cents per share for its fourth quarter by earning 32 cents per share. Net income was $3.3, which smashed last year’s fourth quarter earnings of $730,000 and 7 cents per share. Revenue for the company nearly doubled, going from $11.1 million in the fiscal 2007 fourth quarter, to $20.8 million for fiscal fourth quarter 2008. According to company executives, a 38% rise in its core equipment leasing business was a primary catalyst for the revenue and earnings growth. After hours stock trading showed investors were satisfied with the results. Stock investing drove the company’s shares up nearly 5% after hours on top of a 1.7% rise during the day leading up to the announcement.
Hooker Furniture (HOFT) Manufactures a Solid 4th Quarter
Martinsville, Virginia based Hooker Furniture (HOFT), a furniture maker, reported a strong fourth quarter profit for its fiscal quarter. The company reported a $4.6 million profit, or 39 cents per share, for the quarter that ended on February 3. This was a huge improvement for the company, which reported a loss of $18.4 million during last year’s fourth quarter, or $1.52 per share. They did have a shortened, two month quarter last year, related to a shift in their fiscal year.
Monsanto (MON) – Seeding Profits
The Monsanto Company (MON),a multinational agricultural biotechnology corporation, delivered great news to the stock investing community with incredible second quarter growth this year: $3.8 billon. This amazing 45 percent growth in revenues over last year’s effort was driven by domestic and international growth. The Monsanto Company is the world’s leading producer of the herbicide glyphosate, marketed as Roundup. Sales of this herbicide and others were $982 million globally compared to $530 last year. Dramatic increases in revenues ($1,747 million from $1,192 million in 2007) mainly from the US and Brazilian corn seed and traits business also contributed to this record growth. The year-to-date sales were 42 percent higher than sales compared with the same period in fiscal year 2007.
Research in Motion (RIMM) Posts Strong 4th Quarter
Research in Motion (RIMM), a Blackberry maker, announced a hugely successful fiscal fourth quarter. The company’s quarter ended on March 1. Earning for the quarter were $412.5 million, which equals 72 cents per share. The profit more than doubled from $187.4 million and 33 cents per share during last year’s fourth quarter. Stock trading intensified after hours for the stock, following the announcement. Revenue also jumped incredibly, from $930 million to $1.88 billion. The company indicated it had no concerns of a slowdown that has affected some other technology companies. The 72 cents per share earnings topped analyst estimates by 2 cents. This is always exciting to the stock investing community. Many traders immediately beginning added the stock to their personal stock portfolio.
Paychex (PAYX) Cashes in During 3rd Quarter
New York based Paychex (PAYX) met Wall Street estimates by netting 39 cents per share during its fiscal 3rd quarter. Profits were up 13% for the quarter, which matched analyst expectations. The company, known as a payroll processor, is fast turning into a full service human resource specialist. Revenue for its third quarter was $532.2 million, just off the $533.3 million anticipated. While revenue rose 10% from last year’s second quarter, investors were especially excited about the company’s modest 3% cost rise. This helped lead to a 39.5% increase in operating margin. This is a great business signal.
Walgreens (WAG) Shines with Profit Increase
San Francisco based drug store chain Walgreens Company (WAG) announced a 5.2% profit increase during its fiscal second quarter compared with last year’s second quarter. This was above analysts estimates for the company. The company credited much of the growth in profit to better cost control measures and stronger sales at established stores. The company’s profit for the quarter, which ended February 29, was $686 million. This amounts to 69 cents per share in earnings, which definitely excited stock trading for the company as investors drove the shares up about 5% through trading portfolio additions, following the better than expected results.
FactSet Research (FDS) Turns up 11% Q4 Profit Growth
FactSet Research Systems, Incorporated (FDS), a leading provider of financial data and information analysis software, based out of Norwalk, Connecticut, announced an 11% profit jump for its fiscal second quarter, over its prior year second quarter. The company credited the strong rise in profit to a sharp increase in subscriptions for its investment management business. Profit rose from $26.5 million in its 2007 fiscal second quarter to $29.5 million for the 2008 quarter. This amounted to a jump from 52 cents per share to 59 cents per share, inspiring news for the stock investing community. When excluding one-time items, the company actually produced $31.1 million in earnings, or 62 cents per share. Sales were strong for the company, climbing 20.6%, from $116.3 million to $140.2 million.
Darden Restaurants (DRI) Serves Up Strong Q3 Earnings
Los Angeles based Darden Restaurants, Incorporated (DRI) gave stock trading investors a reason to be exited by announcing a strong profit for its fiscal third quarter. The parent company of well known restaurants Olive Garden and Red Lobster, recently acquired LongHorn Steakhouse and Capital Grille chains, which it said boosted revenue and profit. Lead by sales growth at Olive Garden, the company was able to overcome a bad weather quarter to produce an 18% increase in net income, for a total of $126 million in earnings. This amounts to an 88 cent per share income, compared with last year’s fiscal third quarter earnings of $106.4 million, or 72 cents per share.