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Dell, Nokia, D.R. Horton, J.M. Smucker
By MarketWatch
Last Update: 7:52 AM ET Nov 20, 2009
SAN FRANCISCO (MarketWatch) -- Among the shares expected to see active trade in Friday's session are Dell, Nokia, and J.M. Smucker.
Dell DELL reported a fiscal third-quarter profit of $337 million, or 17 cents a share, on revenue of $12.9 billion. The PC giant's profit fell 54% from the same period a year ago when the company earned $727 million, or 37 cents a share, on $15.2 billion in sales. Excluding one-time items, Dell would have earned 23 cents a share. Shares of Dell were last down 6.3% in pre open trading. Read more about Dell's quarterly results
D.R. Horton DHI reported a fiscal fourth-quarter loss of $231.9 million, or 73 cents a share, compared with $799.9 million, or $2.53 a share, in the year-ago period. The home builder said the latest quarter's results included $192.6 million in pretax charges related to inventory and land. Home-building revenue for the September quarter dropped to $1 billion from $1.8 billion in the same quarter the previous year. D.R. Horton was projected to report a loss of 27 cents a share in the fourth quarter. Shares fell over 2% in pre open trade.
Clothing retailer Gap Inc. GPS reported its third-quarter net income rose to $307 million, or 44 cents a share, from $246 million, or 35 cents a share, a year earlier. Sales rose 1% from last year's quarter to $3.59 billion. Sales at stores open one year -- or same-store sales -- were flat, compared to a 12% decline in the year-ago quarter. Gap said its operating margin was the highest in a decade at 13.9%. More details on Gap's results
Intuit Inc. INTU said its fiscal first-quarter loss widened to $99 million, or 21 cents a share, from $76 million, or 16 cents a share in the same period last year. The maker of tax preparation and personal finance software said revenue rose 2% to $493 million. Excluding special items, Intuit said its loss for the quarter was 10 cents a share.
J. M. Smucker SJM said Friday its second-quarter earnings nearly tripled to $140 million, or $1.18 a share from $51.5 million, or 94 cents a share in the year-ago period. The food company's adjusted net income rose to $1.22 share from $1.01 a share. Sales rose 52% to $1.29 billion due to the addition of Smucker's acquisition of Folger's. Wall Street analysts expected earnings of $1.04 a share and revenue of $1.25 billion, according to a survey by FactSet Research. Smucker raised its 2010 earnings forecast to $3.95 to $4.05 a share, from its previous target of $3.65 to $3.80 a share. Shares rose 2.3% in preopen trading.
Nokia Corp. NOK, the world's largest mobile-phone maker, on Friday said it plans to eliminate roughly 330 jobs in its research and development operations. The cuts will affect up to 230 employees at its Oulu site in Finland and 100 at its Copenhagen site and represent about 2% of the company's global R&D staff. Shares were down 2.5% in Helsinki, Finland.
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