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March 27, 2009 | Times Wire Reports
Sempra Energy, owner of the largest U.S. natural gas utility, said profit would rise to at least $5 a share in 2010, exceeding analyst estimates. Sempra said it expected 2009 profit of $4.35 to $4.60 a share. The San Diego company was expected to earn $4.93 a share in 2010 excluding costs and one-time gains, according to a Bloomberg survey. Sempra shares rose $2.13, or 4.9%, to $45.06.
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BUSINESS
July 19, 2010 | Bloomberg News
IBM Corp. said Monday that second-quarter sales missed analysts' estimates as demand for services slowed and the falling euro weighed on revenue. Revenue rose 2% to $23.7 billion, the Armonk, N.Y., company said. Analysts on average estimated $24.2 billion in revenue, according to a Bloomberg survey. Services signings declined 12% to $12.3 billion, suggesting corporate customers were still delaying projects. It's the second straight quarterly decline in contracts for services, which makes up more than half of IBM's total revenue.
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BUSINESS
April 30, 2008 | From Times Wire Services
Commercial real estate broker CB Richard Ellis Group Inc. said Tuesday that first-quarter profit climbed 71% on gains in leasing property. Net income rose to $20.5 million, or 10 cents a share, from $12 million, or 5 cents, a year earlier, the Los Angeles-based company said. Revenue increased 1.4% to $1.23 billion. CB Richard Ellis earned 15 cents a share excluding certain items and expenses, less than the 21 cents projected by analysts in a Bloomberg survey. Its shares fell $1.03, or 4.4%, to $22.55 before the earnings news.
BUSINESS
April 16, 2010
AMD beats estimates on PC rebound Advanced Micro Devices Inc. reported first-quarter sales that beat analysts' predictions, adding to evidence that personal-computer demand is increasing. Revenue at the Sunnyvale, Calif., technology company rose 34% to $1.57 billion, AMD said. Analysts had estimated $1.54 billion on average, according to a Bloomberg survey. Net income was $257 million, or 35 cents a share, helped by an accounting change. That compares with a loss of $416 million, or 66 cents, a year earlier.
BUSINESS
March 28, 2008 | From Times Wire Services
Sempra Energy, owner of the largest U.S. natural-gas utility, expects 2009 per-share profit to rise to $4.35 to $4.60 as the company opens natural-gas import terminals and extends pipeline operations. Its shares rose 3.9%. Sempra, based in San Diego, was expected to earn $4.58 a share, excluding one-time items, next year, according to a Bloomberg survey. Sempra expects to complete two gas-import terminals in Baja California and Louisiana this year. A $4.4-billion pipeline venture with ConocoPhillips and Kinder Morgan Energy Partners began interim shipments from Colorado to Kansas in January, with full service to Ohio expected by mid-2009.
BUSINESS
August 21, 2008 | From Times Wire Services
Ross Stores Inc., owner of the Ross Dress for Less discount chain, said fiscal second-quarter profit and sales rose and forecast that full-year earnings would be higher than a previous projection. Net income jumped 40% to $71.3 million, or 54 cents a share, and revenue rose 14% to $1.64 billion, matching average estimates in a Bloomberg survey. Shares of Pleasanton, Calif.-based Ross fell 33 cents to $38.03 after the news. The firm forecast profit for the year ending Jan. 31 of $2.33 to $2.38 a share, up from a May projection of $2.29.
BUSINESS
February 20, 2009 | Times Wire Reports
Watson Pharmaceuticals Inc., the second-largest U.S. maker of generic drugs, said earnings rose 47% in the fourth quarter, helped by higher drug sales and lower operating expenses. Net income climbed to $56.4 million, or 50 cents a share, from $38.4 million, or 34 cents, a year earlier, the Corona company said. Earnings excluding some items were 53 cents a share, topping the 50-cent average estimate of analysts in a Bloomberg survey. Revenue increased 2.9% to $645.2 million, slightly ahead of analyst estimates, as sales and profit margins rose in all three of Watson's businesses.
BUSINESS
February 5, 2008 | From Bloomberg News
Computer Sciences Corp., which manages networks for NASA and the Navy, posted a 58% rise in fiscal third-quarter profit Monday after winning more contracts to manage U.S. business computer systems. Net income increased to $179 million, or $1.05 a share, from $113.5 million, or 65 cents, a year earlier, the El Segundo-based company said. Chief Executive Michael Laphen is boosting government and commercial sales and making acquisitions to expand into new markets. In January, Computer Sciences announced that it would move its headquarters to Falls Church, Va., to be closer to Washington.
BUSINESS
August 29, 2008 | From Times Wire Services
Fleetwood Enterprises Inc. reported a fiscal first-quarter loss that was wider than analysts expected as sales of its recreational vehicles dropped by more than half amid near-record fuel prices. The loss of $29.1 million, or 42 cents a share, compares with a loss of $2.35 million, or 4 cents, a year earlier, the Riverside-based company said. "Business conditions are expected to remain challenging at least through our third fiscal quarter, resulting in losses and negative operating cash flows," Chief Executive Elden Smith said.
BUSINESS
November 18, 2009 | Times Wire Reports
Shares of Target Corp., the second-largest U.S. discount chain, fell after the company said it was planning for a modest decrease in fourth-quarter comparable-store sales. "We haven't seen that rebound or that lift yet," Chief Executive Gregg Steinhafel said. The Minneapolis company said average transaction sizes were smaller at the start of November, although shopper visits increased. Net income at Target advanced 18% to $436 million, or 58 cents a share, in the third quarter ended Oct. 31, from $369 million, or 49 cents, a year earlier.
BUSINESS
November 18, 2009 | Times Wire Reports
Shares of Target Corp., the second-largest U.S. discount chain, fell after the company said it was planning for a modest decrease in fourth-quarter comparable-store sales. "We haven't seen that rebound or that lift yet," Chief Executive Gregg Steinhafel said. The Minneapolis company said average transaction sizes were smaller at the start of November, although shopper visits increased. Net income at Target advanced 18% to $436 million, or 58 cents a share, in the third quarter ended Oct. 31, from $369 million, or 49 cents, a year earlier.
BUSINESS
November 18, 2009 | Times Wire Reports
Home Depot Inc., the largest U.S. home-improvement retailer, posted fiscal third-quarter profit that dropped 8.9% as homeowners curbed large purchases and professional contractors spent less. Net income fell to $689 million, or 41 cents a share, in the three months ended Nov. 1 from $756 million, or 45 cents, a year earlier, the Atlanta company said Tuesday. Analysts projected profit of 36 cents a share, according to a Bloomberg survey. Sales at older stores sank 6.9%, spurring Home Depot to reduce administrative expenses and cut inventories by $1.1 billion, or 8.9%.
BUSINESS
February 20, 2009 | Times Wire Reports
Watson Pharmaceuticals Inc., the second-largest U.S. maker of generic drugs, said earnings rose 47% in the fourth quarter, helped by higher drug sales and lower operating expenses. Net income climbed to $56.4 million, or 50 cents a share, from $38.4 million, or 34 cents, a year earlier, the Corona company said. Earnings excluding some items were 53 cents a share, topping the 50-cent average estimate of analysts in a Bloomberg survey. Revenue increased 2.9% to $645.2 million, slightly ahead of analyst estimates, as sales and profit margins rose in all three of Watson's businesses.
BUSINESS
August 29, 2008 | From Times Wire Services
Fleetwood Enterprises Inc. reported a fiscal first-quarter loss that was wider than analysts expected as sales of its recreational vehicles dropped by more than half amid near-record fuel prices. The loss of $29.1 million, or 42 cents a share, compares with a loss of $2.35 million, or 4 cents, a year earlier, the Riverside-based company said. "Business conditions are expected to remain challenging at least through our third fiscal quarter, resulting in losses and negative operating cash flows," Chief Executive Elden Smith said.
BUSINESS
August 21, 2008 | From Times Wire Services
Ross Stores Inc., owner of the Ross Dress for Less discount chain, said fiscal second-quarter profit and sales rose and forecast that full-year earnings would be higher than a previous projection. Net income jumped 40% to $71.3 million, or 54 cents a share, and revenue rose 14% to $1.64 billion, matching average estimates in a Bloomberg survey. Shares of Pleasanton, Calif.-based Ross fell 33 cents to $38.03 after the news. The firm forecast profit for the year ending Jan. 31 of $2.33 to $2.38 a share, up from a May projection of $2.29.
BUSINESS
April 30, 2008 | From Times Wire Services
Commercial real estate broker CB Richard Ellis Group Inc. said Tuesday that first-quarter profit climbed 71% on gains in leasing property. Net income rose to $20.5 million, or 10 cents a share, from $12 million, or 5 cents, a year earlier, the Los Angeles-based company said. Revenue increased 1.4% to $1.23 billion. CB Richard Ellis earned 15 cents a share excluding certain items and expenses, less than the 21 cents projected by analysts in a Bloomberg survey. Its shares fell $1.03, or 4.4%, to $22.55 before the earnings news.
BUSINESS
November 18, 2009 | Times Wire Reports
Home Depot Inc., the largest U.S. home-improvement retailer, posted fiscal third-quarter profit that dropped 8.9% as homeowners curbed large purchases and professional contractors spent less. Net income fell to $689 million, or 41 cents a share, in the three months ended Nov. 1 from $756 million, or 45 cents, a year earlier, the Atlanta company said Tuesday. Analysts projected profit of 36 cents a share, according to a Bloomberg survey. Sales at older stores sank 6.9%, spurring Home Depot to reduce administrative expenses and cut inventories by $1.1 billion, or 8.9%.
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