Lots Of Earnings After The Close – Look Who Beat Estimates

August 12, 2003
Vincent Mao

Stocks were
higher Tuesday, as the Fed left rates
unchanged, as expected. They hinted that they would leave rates alone in the
future, even in light of accelerating economic growth.Â Bonds were up
slightly.

In economic news, the Bank of
Tokyo-Mitsubishi and UBS Index climbed 0.1% last week thanks to back to school
sales.

The 10-year U.S. Note
was +055 at 112 080.

The dollar was +0.27 at
96.15.

Gold was -2.80 at
359.30.

Crude Oil was -0.14 at
31.92.

Volume was
1,122,623,000 on
the NYSE, and 1,292,635,000 on the Nasdaq.

Market breadth was positive,
with NYSE advancing issues over declining issues by 2.35, and up volume over
down volume by 3.25. Nasdaq advancing issues over declining issues at 2.14, and
up volume over down volume at 5.38.

Top Dow stocks were:

Stocks in the news:

Consumer products maker
Clorox
(
CLX |
Quote |
Chart |
News |
PowerRating) rose after the company reported fourth-quarter
results in line with estimates. In its latest quarter, Clorox earned 68 cents a
share compared to 63 cents a share in the year-ago quarter. Looking ahead, the
company sees first-quarter results between 57 to 62 cents a share and full-year
results between $2.47 to $2.57 a share. Analysts are forecasting first-quarter
results of $0.60 and full-year results of $2.50.

Watch and accessories maker
Fossil
(
FOSL |
Quote |
Chart |
News |
PowerRating) gained after the company reported
better-than-expected second-quarter results. The company reported earnings of 21
cents a share compared to 20 cents in the year-ago period. Fossil’s results were
a penny better than consensus estimates. Revenues jumped 15.1% to $329.4. Going
forward, the company sees Q3 results between 32 to 34 cents a share or in range
of estimates of 33 cents a share.

Application software maker
Hyperion Solutions
(
HYSL |
Quote |
Chart |
News |
PowerRating) was upgraded from
“neutral” to “buy”. UBS upgraded the stock due to valuation basis and feels that
long-term growth prospects for the company remain healthy.

Maker of explosives detection
systems Invision Technologies
(
INVN |
Quote |
Chart |
News |
PowerRating) received a $54.8 million order from the Transportation Security
Administration (TSA). The order calls for an unspecified number of Invision’s
CTX 900 DSi detection systems. It also grants the TSA rights to purchase up to
550 CTX units.

Retailer J.C. Penney
(
JCP |
Quote |
Chart |
News |
PowerRating)
reported a narrower-than-expected second-quarter loss.
In its latest quarter, the company lost 2 cents a share compared to a loss of 5
cents a share in the year-ago quarter. Analysts had predicted a loss of 5 cents
a share. Looking ahead, the company sees Q3 and full-year results between 25 to
30 cents a share and $1.25 to $1.35 a share, respectively.

Zoran
(
ZRAN |
Quote |
Chart |
News |
PowerRating) fell after the lowered third- and fourth-quarter guidance. The maker of
integrated circuits now sees Q3 results between 19 to 23 cents a share and Q4
results between 16 to 22 cents a share. Analysts had expected Q3 and Q4 results
of 32 cents and 27 cents, respectively. The updated forecast now reflects Zoran’s purchase of Oak Technology.

If you have any comments or
questions, please feel free to email me.

Vincent Mao

vincentm@tradingmarkets.com

Lots Of Earnings After The Close – Look Who Beat Estimates

BUY THE FEAR, SELL THE GREED

Quick Links

Company Info

Contact

Company Resources