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7:21AM State Street Q1 earns lower, meet average est. (STT) by Emily Church
State Street Corp. (STT) said net income in the first quarter declined 15 percent to $145 million. Baseline earnings per share declined to 46 cents from 52 cents a year ago. The baseline earnings matched the consensus estimate from analysts. "Given the continuing uncertainty in global financial markets, we are taking significant steps to control operating expense growth for the rest of this year, as we announced last week," the bank said.
7:18AM Aquila's Q4 loss rises substantially due to charges (ILA) by Tomi Kilgore
Aquila (ILA) reported a fourth-quarter net loss of $977.9 million, or $5.22 a share, versus a loss of a nickel a share in the year-earlier period. The results included impairment charges of $649.6 million during the quarter, most of which are related to the company's move to wind down its merchant trading portfolio. Sales for the quarter ending December declined 44 percent to $411.3 million. The stock closed Monday up 3 cents at $2.21.
7:13AM Fifth Third Q1 income up on loan growth (FITB) by Emily Church
Fifth Third Bancorp (FITB) said Tuesday that first quarter earnings per per share rose to 72 cents from 66 cents a share a year earlier. The bank said that it's outlook for the year "remains upbeat" but it allowed that market conditions were difficult. "Financial results were driven by solid revenue and loan growth despite the challenges of a difficult external environment," it said. "The lack of a meaningful rebound in business activity, the level of interest rates and the corresponding impact on investment opportunities are continuing to pose significant challenges to the financial services industry." It added that the bank is "continuing to work very hard and are making excellent progress" with banking regulators to strengthen risk management and internal controls.
7:08AM Adtran's Q1 earns rise above expectations (ADTN) by Tomi Kilgore
Adtran (ADTN) reported first-quarter net income of $10.5 million, or 27 cents a share, up from 11 cents a share in the same period a year ago, and above the average analyst estimate compiled by Multex of 24 cents a share. Sales increased 3.5 percent to $86.2 million, due primarily to new product sales and market share expansion. Gross margin improved 7.4 percentage points to 54.6 percent. Shares of the supplier of telecommunications transmission products closed Monday up $1.68 at $37.86.
6:52AM Emmis reports narrower than expected Q4 loss (EMMS) by Tomi Kilgore
Emmis Communications (EMMS) reported a fiscal fourth-quarter net loss of $7.4 million, or 14 cents a share, narrower than the 72 cents a share it lost in the year-earlier period, and less than the average analyst loss estimate complied by Multex of 18 cents a share. Net revenue increased 7 percent to $126.8 million, above the $121.8 million expected by analysts. The diversified media firm said its radio division grew both ratings and market share and its TV division saw revenue growth at nearly every station. The stock closed Monday up $1.01 at $18.37.
Gruß
Nobody II
7:21AM State Street Q1 earns lower, meet average est. (STT) by Emily Church
State Street Corp. (STT) said net income in the first quarter declined 15 percent to $145 million. Baseline earnings per share declined to 46 cents from 52 cents a year ago. The baseline earnings matched the consensus estimate from analysts. "Given the continuing uncertainty in global financial markets, we are taking significant steps to control operating expense growth for the rest of this year, as we announced last week," the bank said.
7:18AM Aquila's Q4 loss rises substantially due to charges (ILA) by Tomi Kilgore
Aquila (ILA) reported a fourth-quarter net loss of $977.9 million, or $5.22 a share, versus a loss of a nickel a share in the year-earlier period. The results included impairment charges of $649.6 million during the quarter, most of which are related to the company's move to wind down its merchant trading portfolio. Sales for the quarter ending December declined 44 percent to $411.3 million. The stock closed Monday up 3 cents at $2.21.
7:13AM Fifth Third Q1 income up on loan growth (FITB) by Emily Church
Fifth Third Bancorp (FITB) said Tuesday that first quarter earnings per per share rose to 72 cents from 66 cents a share a year earlier. The bank said that it's outlook for the year "remains upbeat" but it allowed that market conditions were difficult. "Financial results were driven by solid revenue and loan growth despite the challenges of a difficult external environment," it said. "The lack of a meaningful rebound in business activity, the level of interest rates and the corresponding impact on investment opportunities are continuing to pose significant challenges to the financial services industry." It added that the bank is "continuing to work very hard and are making excellent progress" with banking regulators to strengthen risk management and internal controls.
7:08AM Adtran's Q1 earns rise above expectations (ADTN) by Tomi Kilgore
Adtran (ADTN) reported first-quarter net income of $10.5 million, or 27 cents a share, up from 11 cents a share in the same period a year ago, and above the average analyst estimate compiled by Multex of 24 cents a share. Sales increased 3.5 percent to $86.2 million, due primarily to new product sales and market share expansion. Gross margin improved 7.4 percentage points to 54.6 percent. Shares of the supplier of telecommunications transmission products closed Monday up $1.68 at $37.86.
6:52AM Emmis reports narrower than expected Q4 loss (EMMS) by Tomi Kilgore
Emmis Communications (EMMS) reported a fiscal fourth-quarter net loss of $7.4 million, or 14 cents a share, narrower than the 72 cents a share it lost in the year-earlier period, and less than the average analyst loss estimate complied by Multex of 18 cents a share. Net revenue increased 7 percent to $126.8 million, above the $121.8 million expected by analysts. The diversified media firm said its radio division grew both ratings and market share and its TV division saw revenue growth at nearly every station. The stock closed Monday up $1.01 at $18.37.
Gruß
Nobody II
