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Tyco International, Beazer Homes, Ralcorp
By MarketWatch
Last Update: 6:40 PM ET Nov 9, 2009
SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Tuesday's session are Tyco International Ltd., Beazer Homes USA Inc. and Ralcorp Holdings Inc.
Tyco TYC is forecast to post earnings of 54 cents a share in the fiscal fourth quarter, according to analysts surveyed by Thomson Reuters.
Beazer BZH is expected to report a fiscal fourth-quarter loss of $1.66 a share, according to analysts surveyed by FactSet Research.
Ralcorp RAH is estimated to report a profit of $1.25 a share in the fiscal fourth quarter, according to analysts surveyed by FactSet Research.
After Monday's closing bell, Sprint Nextel Corp. S said it will eliminate 2,000 to 2,500 positions in the fourth quarter as part of its effort to reduce labor costs by at least $350 million. The reductions will affect positions companywide, and will also affect contractor and other outside labor. "The impact on geographic locations will vary, and many impacted positions will be eliminated by Dec. 31, 2009," the company said in a statement. See full story
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Electronic Arts Inc. ERTS said its net loss grew in the second fiscal quarter as sales of its video-game titles declined from the same period last year, though the results beat Wall Street's expectations. For the quarter ended Sept. 30, EA reported a net loss of $391 million, or $1.21 a share, compared to a loss of $310 million, or 97 cents a share, for the same period last year. Excluding the effect of stock options and deferred revenue from the sale of certain game titles, the company said it would have earned $19 million, or 6 cents a share, for the recent period. Revenue slipped 12% to $788 million. Excluding the impact of deferred sales, the company said revenue grew 2% to $1.147 billion. Analysts were expecting earnings of 7 cents a share on revenue of $1.13 billion, according to consensus estimates from Thomson Reuters. See full story
Fluor Corp. FLR reported a third-quarter profit of $162 million, or 89 cents a share, down from $182 million, or $1 a share, a year ago. Revenue fell 4% to $5.4 billion. Analysts polled by FactSet Research were looking for earnings, on average, of 90 cents a share on sales of $5.5 billion. For the full year, the engineering and construction giant said it expects to report a profit in a range of $3.75 to $3.90 a share. Wall Street previously forecast a 2009 profit of $3.86 a share. Separately, Fluor appointed David Seaton to the newly created position of chief operating officer.
Lionsgate Entertainment Corp. LGF reported a net income attributable to Lionsgate shareholders of $31.7 million in the second quarter, recovering from a loss of $51.8 million a year earlier. On a per share basis, the company earned 26 cents a share compared with a loss of 44 cents a share in the same quarter last year. Excluding items, the company posted a profit of 27 cents a share. The entertainment company reported revenue of $393.7 million, slightly up from $380.7 million in the same period in 2008. The company credited its television production business, new revenue from TV Guide Network and TV Guide.com and reduced theatrical marketing costs for its improved quarterly results.
MBIA Inc. MBI reported a third-quarter net loss to common shareholders of $727.8 million, or $3.50 a share. That compares to a net loss of $806.5 million, or $3.42 a share, in the same period a year earlier. The net loss in the latest quarter was driven by an $810.2 million pre-tax unrealized loss on insured credit derivatives, $238.8 million in pre-tax loss and loss-adjustment expenses mainly from the company's insured exposures to second-lien mortgage loan securitizations, and $171.4 million in pre-tax realized losses and other-than-temporary impairments on investments, MBIA said. "The third quarter's loss is a reminder that the impact of this recession continues to be felt throughout the economy," Chief Financial Officer Chuck Chaplin said in a statement. "Incurred losses in our insurance business were above expectations and the same housing-related performance trends drove our asset losses and impairments."
McDermott International Inc. MDR said third-quarter net income rose to $118.1 million, or 50 cents a share, from $85.6 million, or 37 cents, in the year-ago period. Operating income, which excludes one-time items, rose 57% to $144.8 million from $92 million. Revenue for the quarter rose to $1.68 billion from $1.66 billion, driven mainly by 26% growth in its offshore oil and gas construction business. Analysts polled by FactSet Research had predicted the Houston-based company would post earnings of 40 cents a share on $1.53 billion in revenue.
Priceline.com Inc. PCLN said its third-quarter profit rose to $319 million, or $6.42 a share, from $84.5 million, or $1.74 a share, in the year-ago period. Excluding one-time items, the company would have reported adjusted earnings of $3.45 a share in the latest quarter. Revenue rose to $730.7 million from $561.6 million last year. Analysts surveyed by FactSet Research estimated a quarterly profit of $2.90 a share on revenue of $686.3 million. Priceline.com estimates earnings of about $1.06 to $1.16 a share for the fourth quarter.
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