DOW JONES NEWSWIRES
Below is a synopsis of major quarterly releases from Tuesday
afternoon:
McKesson Profit Up On Lower Expenses, Boosts 2009 View
McKesson Corp.'s (MCK) profit climbed 23% as margins improved
while the company reported lower expenses. Each business in the
company's distribution and technology segments met or exceeded
expectations, according to Chairman and Chief Executive John
Hammergren. The positive momentum also led the nation's largest
distributor of pharmaceuticals to raise its fiscal-year earnings
outlook. Shares were up 0.4% to $47.03 in after hours.
DreamWorks Earnings Slide But Top Street View
DreamWorks Animation SKG's (DWA) profit slid 7% on lower revenue
and margins as the company has yet to see the benefits from its 3-D
movie "Monsters vs. Aliens," the studio's only release this year.
But results were solidly above analysts' expectations, helping push
the stock up 2.9% after-hours to $29.50.
Massey Swings To Profit Despite Lower Prices, Higher Costs
Massey Energy Co. (MEE) swung to a profit despite lower coal
prices and higher costs, as a prior-year litigation charge skewed
comparisons. Shares jumped 5.3% to $23.95 in after-hours trading as
results for the fourth-largest U.S. coal producer by revenue topped
Wall Street's expectations. The stock has more than doubled from a
six-year low in March but is still down about two-thirds in the
past year. Massey also narrowed its 2009 forecast of coal shipments
and raised them for 2010.
Chicago Bridge & Iron Swings To Profit On Cost-Cutting
Chicago Bridge & Iron Co. (CBI) swung to a profit, topping
Wall Street expectations, as the construction and engineering
company continued to pare costs. Still, new awards for the quarter
were off 73%. Shares fell 1.5% to $13.58 in late trading.
International Ops Weigh On Fidelity National Profit But Co
Boosts Year View
Fidelity National Information Services (FIS) reported an 18%
decrease in profit as international revenue dropped and the company
said the environment remained difficult. Shares rose 4.2% in late
trading to $22.30 as results topped analysts' expectations and the
provider of technological and processing assistance to banks and
financial institutions boosted its full-year earnings guidance.
Carter's Earnings Soar, Topping Expectations; Shares Rise
Carter's Inc.'s (CRI) profit quadrupled as the company said it
cut back on inventory and costs while seeing sales and margins rise
again. Shares rose 6.6% to $28.70 in after-hours trading as the
children's apparel maker blew away expectations and expressed
optimism on the rest of the year.
Teco Profit Boosted By Better Pricing, Sees Modest Recovery
Teco Energy Inc.'s (TE) profit improved 18% as the utility
benefited from better pricing. Chairman and Chief Executive
Sherrill Hudson added that the economy appears to be near a bottom,
but he warned Teco expects only a modest recovery later this year.
Shares of Teco, which reiterated its 2009 earnings target, added 3
cents to $12.69 in after-hours trading.
Hertz Earnings Plunge On Demand Woes But CEO Sees
Improvement
Hertz Global Holdings Inc.'s (HTZ) profit dropped 92% amid a
sharp drop in car- and equipment-rental revenue, though earnings
still topped the company's own expectations. Chief Executive Mark
Frissora said volume and pricing trends have improved in the summer
car-rental peak in the U.S. and Europe and used-car values in the
U.S. are close to 2008 levels. In after-hours trading, shares were
down 2% at $9.20.
WellCare Profit Triples On Premium Revenue; Shares Soar
WellCare Health Plans Inc.'s (WCG) second-quarter profit more
than tripled as Medicare and Medicaid premium revenue both grew.
Following the results, which easily topped Wall Street's
expectations, shares surged 26% to $24.55 in after-hours
trading.
Panera Earnings Helped By Lower Wheat Costs, Tightens Year
View
Panera Bread Co.'s (PNRA) earnings rose 28% as the company
benefited from lower wheat costs and management initiatives. The
sandwich-restaurant chain also tightened its guidance for 2009,
putting the range entirely above Wall Street expectations. In
after-hours trading, the company's shares were up 0.7% at
$57.25.