Movers: Apple, Exxon Mobil, 3M, Ford
Apple (AAPL) posts third quarter EPS of $0.92, vs. $0.54 a year ago, on a 24% revenue rise. The company hopes to sell its millionth iPhone by end of its first full quarter of sales. It sees fourth quarter revenue of about $5.7 billion and EPS of $0.65. S&P keeps hold and ups fiscaly year 2007 EPS view.
Exxon Mobil (XOM) posts lower-than-expected $1.83, vs. $1.72 a year ago, second quarter2 EPS on slight revenue rise (estimated). It says lower natural gas realizations were mostly offset by higher refining, marketing, chemical margins.
3M Co. (MMM) posts $1.25, vs. $1.15 a year ago, second quarter EPS on an 8% sales rise. It raises $5.20-$5.45 2007 EPS forecast to $5.40-$5.60.
D.R. Horton (DHI) posts $2.62 third quarter loss per share, vs. $0.93 EPS a year ago, on 29% lower revenue. The homebuilder says for the remainder of the year, it will focus on generating cash, reducing inventory, and pay down outstanding debt to maintain a strong balance sheet.
Beazer Homes USA (BZH) posts $3.20 third quarer loss per share (including pre-tax charge), vs. $2.37 EPS a year ago, on 37% lower revenue. It cites further deterioration conditions in housing industry. Inks new $500 milion revolving credit facility.
Ryland Group (RYL) posts $1.25 second quarter loss per share, vs. $2.03 EPS (GAAP) a year ago, on 38% lower revenue.
Ford Motor (F) posts $0.31 second quarter EPS, vs. $0.17 loss per share a year ago, on 6% revenue rise. Current quarter results reflect currency exchange, mix and net pricing improvement, partially offset by lower volume.
Symantec (SYMC) posts $0.29, vs. $0.24 a year ago first quarter non-GAAP EPS on 10% revenue rise. It sees $0.24-$0.26 second quarter non-GAAP EPS on revenue of $1.37-$1.40 billion. S&P keeps hold and raises estimate and price target.
Comcast (CMCSA) posts $0.19, vs. $0.15 a year ago, second quarter EPS on a 31% revenue rise. S&P maintains buy.
Qualcomm (QCOM) posts $0.47, vs. $0.37 a year ago, third quarter EPS on a 19% revenue rise. It sees $0.41-$0.43 fourth quarter EPS on revenue of $2.15-$2.25 billion. S&P maintains hold; trims target and fiscal year 2008 estimate.
MEMC Electronics (WFR) posts $0.70, vs. $0.36 a year ago, second quarter EPS on 28% sales rise. It sees third quarter revenue of about $500 million and 2007 revenue of $1.95 billion. It says demand from solar applications continues to be healthy.
Bristol-Myers Squibb (BMY) posts $0.36, vs. $0.34 a year ago, second quarter GAAP EPS on 1% sales rise. The drug maker raises 2007 EPS guidance to $1.35-$1.45, reflecting strong sales growth, key products, costs controls. It forecast $1.60-$1.70 2008 EPS.
Aetna (AET) posts $0.85 vs. $0.67 second quarter EPS on 8.7% revenue rise... Sees $0.90-$0.92 Q3 EPS... Raises $3.35 '07 op. EPS guidance to $3.40-$3.42.
Raytheon (RTN) posts $0.79, vs. $0.61 a year ago, second quarter EPS from continuing operations on 9% sales rise. It cites operational improvements, combined with lower net interest, pension expense.
Sunrise Senior Living (SRZ) says it will explore alternatives intended to enhance shareholder value, including possible sale of co.
Varian Medical Systems (VAR) posts $0.39, vs. $0.49 a year ago (including $0.08 tax benefit) third quarter EPS as lower gross margin offsets 7% revenue rise. It sees fiscal year 2007 revenue rise of 10%-11% and $1.79 EPS. S&P maintains hold.