Earnings News Moving the Markets: NKE, DFS, WAG, JBL

PUBLISHED: 22 Dec 2012 @ 05:46 | Comments (0) | More info about Ed Liston

Nike Inc. (NYSE:NKE): The stock is currently at $104.03, up 5.08 percent from its previous close of $99.00. Nike Inc. reported its second quarter results and its net income for the quarter ended on November 30 fell 18 percent to $384 million.

The company had earned $469 million in net income for the corresponding quarter of the last year. On per share basis, its income for the quarter was reported at $1.14, surpassing consensus estimates of $1.00 in EPS. Its revenue increased to $5.96 billion, up 7 percent. The company’s revenue for the second quarter of the previous year was at $5.55 billion. Nike Inc., however, failed to meet analysts’ expectations of $6.01 billion in revenue. The company also reported the sale of its Cole Haan and Umbro brands. The stock is trading at the Price Earnings ratio of 22.67 and it has traded in the range of $85.10 and $114.81 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $104 and 50 days moving average price of $103.18.

Discover Financial Services (NYSE:DFS): The stock is trading marginally down as the company announced higher net income for the fourth quarter of the year. However, it failed to meet consensus estimates. Discover Financial Services’ earnings for the quarter were reported at $541 million, up from $513 million it had earned previous years, but lagging behind analysts’ expectations. On per share basis, the EPS stood at 1.07 per share. The company was expected to report its EPS at $1.12 per share. In response to the result, the stock is currently trading 0.18 percent down at $38.34. It is trading below its 20 days moving average price of $38.53 and 50 days moving average price of $38.48. Discover Financial Services earned $2 billion in revenue, up 11 percent. It topped consensus estimate of $1.96 billion in revenue. The company stock has traded in the range of $23.75 and $42.08 in the past 52 weeks. Its beta is at 0.95 and the Price Earnings ratio is at 8.89. Discover Financial Services also announced dividend of 14 cents per share. The dividend is payable on January 17 and the record date has been set at January 3, 2013.

Walgreen Company (NYSE:WAG): This stock is currently at $36.29, down 3.36 percent from its previous close of $37.55. It is trading below its 20 days moving average price of $36.35 and 50 days moving average price of $36.50. Walgreen Company reported disappointing financial results for the fiscal first quarter of the year. The company reported to suffer $24 million loss due to Sandy Storm. Its earnings per share for the quarter stood at 43 cents, down from 63 cents per share for the previous year quarter. It was expected to report its EPS at 70 cents per share. Its revenue for the quarter is down 5 percent to $17.34 billion. The stock is trading at the Price Earnings ratio of 15.03. It has traded in the range of $28.53 and $37.75 in the past 52 weeks. Walgreen Company also reported $23 million in acquisitions related costs in the quarter. However, it noted smaller decline of 5 percent in prescriptions filled at stores open for at least a year.

Jabil Circuit Inc. (NYSE:JBL): The stock is trading down despite announcing strong results for the fiscal first quarter of the year. The company earned $106 million in income for the quarter. Its earnings per share, excluding one-time items, stood at 61 cents per share, surpassing analysts’ expectations of 56 cents per share. However, Jabil Circuit’s revenue increased 7 percent to $4.6 billion. It also surpassed consensus estimate for revenue at $4.4 billion. The company’s earnings declined 6.3 percent. The stock is currently trading at $19.09, down 4.31 percent from its previous close of $19.95. The stock is trading at the Price Earnings ratio of 10.45 and it has traded in the range of $16.82 and $27.40 in the past 52 weeks. Jabil Circuit is trading above its 20 days moving average price of $18.59 and 50 days moving average price of $18.52. Consequent to earnings reporting, Raymond James lowered its price target for the stock to $24. Its previous price target was at $26. However, it retained its Strong Buy rating.

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