SAN FRANCISCO (MarketWatch) – Among the shares expected to see active trade in Friday’s session are those of American International Group Inc., Blackstone Group LP, and Scripps Networks Interactive Inc.
American International Group (AIG) is expected to report third-quarter earnings of $1.20 a share, according to a consensus survey by Thomson Reuters.
Blackstone Group (BX) is projected to post earnings of 15 cents a share in the third quarter, according to analysts polled by FactSet Research.
Scripps Networks Interactive (SNI) is forecast to post third-quarter earnings of 36 cents a share, according to a FactSet survey.
Edison International (EIX) is likely to report earnings of $1.06 a share in the third quarter, according to analysts in a FactSet poll.
After Thursday’s closing bell, Starbucks Corp. (SBUX) reported its fiscal fourth-quarter net income rose to $150 million, or 20 cents a share, compared with a net income of $5.4 million, or 1 cent a share, in the year-earlier period. Sales fell 4% to $2.42 billion. Excluding restructuring charges, Starbucks said it earned 24 cents a share. Same-store sales fell 1% during the quarter. For fiscal 2010, the company increased its earnings growth target, excluding charges. See full details on Starbucks’ earnings
Activision Blizzard Inc. (ATVI) swung to a third-quarter profit of $15 million, or 1 cent per share, from a net loss of $108 million, or 8 cents a share, for the same period the previous year. Excluding certain charges, the company said it would have earned 4 cents a share for the recent quarter. Net revenue dipped 1% to $703 million. Excluding revenue that was deferred from the sale of certain games, the company said revenue would have been $755 million. Read more on Activision’s earnings
CBS Corp. (CBS) said it earned $207.6 million, or 30 cents a share, in the latest period, compared with a loss of $12.46 billion, or $18.58 a share, a year earlier. Excluding charges in the latest third-quarter, CBS said it would have earned $265.9 million or 39 cents a share. Revenue declined to $3.35 billion from $3.38 billion. See full story on CBS
Citigroup Inc. (C) said its Primerica Inc. unit has filed plans for an initial public offering, the latest step in a break-up of the struggling financial giant. Primerica has roughly 100,000 licensed sales representatives who sell term life insurance, underwritten by the company, as well as mutual funds, variable annuities, loans and other financial products, Citi explained.
Fannie Mae (FNM) said its third-quarter loss narrowed to $19.8 million, or $3.47 a share, from $29.4 million, or $13 a share, a year ago. Total interest income for the quarter fell to $9.68 billion from $10.76 billion a year ago.
JDS Uniphase Corp. (JDSU) reported a fiscal first-quarter loss of $31.9 million, or 15 cents a share, compared with a loss of $21.3 million, or 10 cents a share, for the year-earlier period. Revenue was $297.8 million, down from $377.2 million for the same quarter last year. Adjusted income was 4 cents a share.
Nvidia Corp. (NVDA) reported a third-quarter profit of $107.58 million, or 19 cents a share, compared with a profit of $61.75 million, or 11 cents a share, for the year-earlier period. Revenue was $903.21 million, up from $897.66 million for the same quarter last year. Adjusted income was 19 cents a share. Full story on Nvidia’s quarterly results
Stanley Works (SWK) cut its 2009 earnings outlook to a range of $2.61 to $2.71 a share from $2.84 to $2.94 a share to reflect a one-time $18 million charge related to its merger with Black & Decker (BDK). However, the management still expects gross margins of 40% and free cash flow in excess of $300 million for the year. “The revision in the company’s guidance does not reflect any change in its operational outlook,” said Stanley in a statement.
Sunoco Inc. (SUN), citing weak fuel demand, reported a third-quarter loss of $312 million, or $2.67 a share, compared with a net income of $549 million, or $4.70 a share. Excluding one-time items, the company posted a third-quarter loss of $34 million, or 29 cents a share. Revenue fell to $8.7 billion from $15.15 billion. Read details on Sunoco’s earnings
VeriSign Inc. (VRSN) swung to a third-quarter profit of $53.6 million, or 28 cents a share, from a loss of $201.1 million or $1.03 a share a year ago. Excluding one-time items, the company would have reported a profit of 33 cents a share for the latest quarter. The provider of Internet-infrastructure services said revenue rose to $258 million from $245.9 million.
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