Quartalsergebnisse haushoch über den Erwartungen

und nicht von irgendwelchen Schmalspurabschreib-Analos:
www2.standardandpoors.com/spf/xls/index/SP500EPSEST.XLS

per letzten Freitag:

Q2 2009
337 issues (75.14% mkt val) rptd:
Oper EPS expected to decline 15.7%; As Rpt expected to UP 6.8%
Recent rpts not as good as initials; avg beat is 12%, but weighted down 1.7
Gewichtet sind die Zahlen also schlechter als erwartet.

I don't like proformas - but due to index changes, enormous charges, accounting changes we need to look at them:  Actual weighted operating reported (same companies) are 1.7% behind of estimates and 36.8% lower than Q2,08; As Rptd off 23.7% 40.8% beat their estimates, with 25.7% beating last years EPS, and 16.4% beating both

Sales off  15.6%, with 22.8% ahead of last year, and 77.2% reporting lower sales;

As Rpt will show gain
Commentary:§No cash flow yet, but 2008 off 39.7%; Q1,'09 was off 44.5% fr Q1,'09; estimate Q2,'09 to be off high 30% ->less worse
2010 P/E bottom-up is 13.3 vs. top-down 21.5; the two will meet->based on history (stressful periods) it will be closer to the top-down
Estimates have turned slightly up for '09.  But getting less worse is different than getting better, and significantly different than being good.  Stats can be misleading-Fin'ls are up 244% from Q2'08, but are still down 85.6% from Q2,'07.  The lack of charges (write-offs, impairments, layoffs, write downs,…) has helped and is a positive sign, but sales remain key - you can just cut so much and for so long; consumer spending (read as the impact of the stimulus bill) is key, with confidence right behind it.

von Obigcou hinein, wo ein Analyst, der nicht einmal Excel beherrscht, Ungereimtes zusammengestümpert hat.

Hier die von Thomson Reuter gesammelten Daten, die sogar noch jeden Tag besser werden, je mehr Ergebnisse kommen:

DOW JONES NEWSWIRES

The decline in second-quarter profits from a year ago continued to drop among S&P 500 companies as the reporting season comes to an end, according to Thomson Reuters.

A combination of those companies that have reported and estimates for the remaining 73 firms calls for earnings to fall 28% from a year ago, compared with a 30% drop as of last week. Estimates coming into the reporting season were for a 36% decline.

The health-care sector is the only one of the S&P 500's 10 sectors showing an increase - 3%. Nine is the highest number of sectors with lower earnings since Thomson Reuters began tracking sector growth rates in 1998.

The biggest decline, 67%, is in the materials sector, which includes chemicals and steel. Energy is close behind at 66%, with industrials next at 37%.

Next week, only one of the 30 Dow Jones Industrial Average components, Wal-Mart Stores Inc. (WMT), and 17 of the S&P 500 will post results.

Of the 427 index members that have reported so far, 73% beat analysts' bottom-line expectations, matching a five-year high and on average topping forecasts by 14%. That would be the highest figure since Thomson Reuters began tracking the data in 1994; the current high is 7.9% from the first quarter of 2004.

Just 19% have fallen short of estimates. In a typical quarter, 61% beat analysts' projections, 19% match and 20% miss estimates.

Looking ahead, 51 companies in the S&P 500 have predicted third-quarter results below Wall Street's expectations while 19 have guided above views.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com

finance.yahoo.com/news/...ries&pos=2&asset=&ccode=

Sales at stores open at least a year, known as same-store sales, slid 8.5 percent. Same-store sales are a key indicator of retailer performance because they measure growth at existing stores rather than newly opened ones.

Cost-cutting helped results, as the company said total operating expenses fell 8 percent to $4.56 billion from $4.92 billion a year ago.

"Our business performed well in a down market, we captured market share and drove operating productivity," said Chairman and CEO Frank Blake said in a statement. Still, he added that concerns about the housing market, rising unemployment and the weak economy continue to pressure consumers.

Results were better than those of rival Lowe's Cos., which a day earlier reported second-quarter profit fell 19 percent, missing expectations, on weaker-than-expected sales. The No. 2 home-improvement retailer also narrowed its full-year profit outlook, in contrast to Home Depot.

The weak results helped send the market tumbling on Monday as investors worried about consumers' continuing tight-fistedness. A recovery in consumer spending is crucial for an economic recovery because it accounts for two-thirds of all U.S. economic activity.

At Home Depot, the average ticket fell 9.3 percent, to $52.25, but the number of customer transactions actually edged up 0.3 percent, a key figure, said Janney Montgomery Scott analyst David Strasser, because it is the first time since 2004 traffic was positive in the second quarter.

"We have to believe that this is the result of better advertising, a more sophisticated pricing strategy, and general improvements in the service levels at stores," said Strasser, who reiterated his "Buy" rating.

"We are buyers of Home Depot today, as we believe that the ongoing turnaround will provide offsets to the ongoing weak macro environment."

Home Depot lifted its 2009 earnings from continuing operations forecast to flat to up 7 percent. Adjusted profit is expected to fall by 15 to 20 percent. Its prior guidance was for a 7 percent dip in earnings from continuing operations.

The retailer backed its expectation for revenue to be down about 9 percent.

Analysts predict full-year net income of $1.44 per share on revenue of $65.4 billion.

Home Depot, which has more than 300,000 workers, ran 2,240 retail stores at quarter's end.

HP sees stability as PC shipments rise
World's biggest tech company says PC sales rose in the past quarter. Though overall revenue dips, company says business is stabilizing.
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See all CNNMoney.com RSS FEEDS (close) By David Goldman, CNNMoney.com staff writer
August 18, 2009: 4:26 PM ET

NEW YORK (CNNMoney.com) -- Hewlett-Packard Co. said it saw signs of stability as it reported a 19% drop in quarterly profit Tuesday that beat Wall Street's forecasts.

A 2% rise in PC shipments helped drive results. All eyes were pointed at the Palo Alto, Calif.-based company for hints at a tech and PC market recovery.

HP said net income for its fiscal third quarter, ended July 30, fell to $1.6 billion, or 67 cents per share. Results included a charge of 24 cents per share for ongoing restructuring charges, including previously announced job cuts.

Without the charge, HP said it earned 91 cents per share. Analysts polled by Thomson Reuters, who typically exclude one-time items from their estimates, forecasted earnings of 90 cents per share.

Sales fell 2% to $27.5 billion, topping analysts' forecasts of $27.3 billion.

HP is the world's largest tech company in terms of revenue and the largest global PC maker. The company is also a market leader in printers and, alongside rivals IBM (IBM, Fortune 500) and Oracle (ORCL, Fortune 500), increasingly growing in the tech services market.

Shares of HP (HPQ, Fortune 500) were flat after hours.

Dell steigert Umsatz und Gewinn im zweiten Quartal
22:42 27.08.09

ROUND ROCK (dpa-AFX) - Der amerikanische Computerbauer Dell (Profil) hat im Vergleich zum ersten Quartal 2009 den Rückgang seines Geschäfts stoppen können. Der Gewinn des US-Konzerns sei um 63 Prozent auf 472 Millionen US-Dollar angestiegen, habe damit allerdings immer noch 23 Prozent unter dem Ergebnis des Vorjahreszeitraums gelegen, wie Dell nach US-Börsenschluss am Firmensitz im texanischen Round Rock mitteilte. Der Gewinn je Aktie (EPS) betrug für das zweite Jahresviertel 0,24 Dollar. Experten hatten mit einem Cent weniger gerechnet. Der Markt reagierte nachbörslich nahezu unbeeindruckt. Der Umsatz lag mit 12,77 Milliarden Dollar 3 Prozent über dem des Vorquartals, aber 22 Prozent unter dem des Vorjahres. Dell-Gründer und Firmenchef Michael Dell gab sich für die Geschäftsentwicklung im zweiten Halbjahr leicht optimistisch: "Sollte der derzeitige Trend bei der Nachfrage anhalten, erwarten wir in der zweiten Jahreshälfte stärkere Umsätze als in den ersten sechs Monaten."/wiz

Quelle: dpa-AFX