Archive for July, 2008
-EPS 59c vs. 48c est. Revenue $1.6B vs. $1.55B est.
-Increasing longer term operating margin guidance to mid to high 40% range
-Although tougher climate is here and will likely continue, we expect fourth quarter to be on the upper end of revenue guidance range
-U.S. payment volume though softening has held up pretty well
-Seeing secular shift [...]
-EPS of 16c vs. 44c est. Revenue of $1.3B vs. $1.42B est. Could see earnings down as much as 40-50% in 2008 which would mean 1.16 EPS vs. 1.83 est.
-Margins could get 300-400bps worse vs. previous worst case scenario of 100-200bps. This is a “classic stagflation environment”
-”Current environment as being very challenging and [...]
-EPS was 2.11 vs. 2.02 est. Revenue 1.2B vs. 1.21B est.
-Growth in Gross Dollar Volume 12.8% vs. 14.1% Q1
-Transactions 13.6% vs. 15.7% Q1
-Cross-border 18.9% vs. 23.6% Q1
-World-wide purchasing volume 14% vs. 15% Q1
-Cards Issued 11% (951M total) vs. 12.1% Q1
-U.S. Gross Dollar Volume growth went from 10.6% in Q4 to 8.9% in Q1 to [...]
GDP grew 1.9% in the June 2008 quarter, which was below 2.3% est. Q1 GDP was revised down to 0.9% vs. 1%. Q4 2007 was revised down to -0.2% vs. 0.6% previously reported.
Initial jobless claims went up 44,000 to 448,000, the highest number since April 2003.
-33 cent loss vs. 42 cent loss est. Revenue $609M vs. $639M est. Guidance $1.30-1.70 EPS vs. $1.59 est.
-Pre-orders for Madden are down. Pre-orders for NCAA were down 20% y/y, but sales came in consistent with last year
-40 SKUs to ship this year on Nintendo platforms vs. 26 last year
-Made $90M in revenue [...]
-Selling $30.6 billion of mortgage related securities at 22 cents on the dollar, which will be an additional write-down of $5.7 billion
-$46 billion in write-downs since June of 2007
-Will issue another $8.5 billion in common stock which will dilute existing shareholders by 38%
-Lone Star, a private equity firm, is paying $6.7 billion for the $30.6 [...]
The U.S. budget deficit is forecasted to reach a record $489 billion in 2009 (September fiscal year), which is higher than the $407 billion President Bush put out in February. A Bloomberg survey of analysts had the forecast at $447 billion.
Toyota cut their annual sales goals today for 2008 by 350,000 to 9.5 million vehicles. This is only a 1% increase over 2007. The company also decreased their global production plan from 9.95 million to 9.5 million.
U.S. goals were cut by 200,000 to 2.44 million vehicles, 7% fall from 2007. Japan goes [...]
WSJ is reporting KKR is going to go public. Poor timing as public investors in both Fortress (FIG) and Och-Ziff (OZM) have taken a bath. The only people that got rich in the process were the insiders who got paid large cash distributions before going public. I guess that is the whole [...]