FA Notes Thursday October 21, 2010
7:57 GOOG – Major TV networks are blocking access from Google TV to their TV shows on the internet. Link
7:49 CMG – Chipotle Mexican Grill reports Q3 earnings of $1.52 vs. $1.30 estimate and revenue of $476.9M vs. $461.2M estimate.
7:15 Bridgewater Associates is up 38% YTD in its flagship fund, a $15 billion gain. The firm was long treasuries, long yen, and long gold. Source: WSJ
7:12 BAC – John Paulson told investors today he has lowered his 2012 earnings estimate for Bank of America to $2.66 EPS from $3 before. Link
7:11 NFLX – Netflix suffered a prolonged service outage today. Link
5:40 BIDU – Baidu reports Q3 earnings of 46c vs. 41c estimate and revenue of $337.2M vs. $333.3M estimate. The company guides Q4 revenue to $354.2-364.7M vs. $348.5M estimate.
5:36 SNDK – SanDisk reports Q3 earnings of 1.30 vs. 1.05 estimate and revenue of $1.23B vs. $1.24B. Q3 gross margin came in at 51.8%. The company guides Q4 revenue to $1.25-1.325 vs. $1.36B estimate and gross margin to 43-46%.
5:19 AMZN – Amazon.com reports Q3 earnings of 51c vs. 48c estimate and revenue of $7.56B vs. $7.35B estimate. Q3 operating income is $268M vs. $289M estimate. The company guides Q4 revenue to $12-13.3B vs. $12.3B estimate and operating income to $360-560M vs. $615M estimate.
3:32 SNE – Sony says it has shipped 1 million units of its Move motion controller to North America and Latin America during its first month since launch. “Sales are brisk.” Link
3:28 Fed’s Bullard favors a $100B a month quantitative ease plan. Link
2:09 T – AT&T reports Q3 earnings of 55c vs. 55c estimate and revenue of $31.6B vs. $31.23B estimate. The company activated 5.2M iPhones.
2:01 CAT – Caterpillar reports Q3 earnings of $1.22 vs. $1.09 estimate and revenue of $11.13B vs. $10.48B estimate. The company guided 2010 earnings to $3.80-4.00 vs. $3.71 estimate and revenue to $41-42B vs. $39.66B estimate.
1:43 FCX – Freeport-McMoran reports Q3 earnings of $2.49 vs. $2.12 estimate and revenue of $5.15B vs. $4.63B estimate.
1:37 Federal Housing Financing Agency says Fannie and Freddie may cost the tax payer $363 billion in losses. Link
1:34 DVD purchases down 16% y/y in first 9 months of 2010. Link
1:31 NFLX – FA updated model. Link
1:00 GS – A team of Goldman’s prop traders are being hired by KKR. Link
12:58 GGP – The last objections to General Growth Properties restructuring plan have been resolved. The planned exit date is November 8th. Link
12:53 Hedge-funds are long commodities, long 10 year treasuries, and long oil. Link
10:03 Philadelphia Fed 1.0 vs. 1.0 estimate.
10:02 September leading indicators 0.3% vs. 0.3% estimate.
9:11 NOK – Nokia reports Q3 earnings of 14c euro vs. 10c estimate and revenue of $10.3B euro vs. $10.0B estimate.
9:01 MCD – McDonald’s reports Q3 earnings of $1.29 vs. $1.24 estimate and revenue of $6.3B vs. $6.21B estimate.
8:56 UPS – UPS reports Q3 earnings of 93c vs. 88c estimate and revenue of $12.19B vs. $12.38B estimate. The company guides 2010 earnings to $3.48-3.54 vs. $3.44 estimate.
8:50 CRUS – Cirrus Logic reports Q2 of 40c vs. 42c estimate and revenue of $100.6M vs. $101.3M estimate. The company guides Q3 revenue to $88-94M vs. $99.1M estimate.
8:31 Jobless claims 452K vs. 455K estimate. Last week was revised to 475K from 462K.
8:26 GOOG – Early impressions of Google TV. Link
8:20 GOOG – Google used offshore tax loop-holes to cut its taxes by $3.1 billion the last three years. Link
8:09 GS – Goldman Sachs is looking to repay Buffett’s $5 billion cash injection given at the height of the financial crisis. Link
8:06 TM – Toyota is recalling 1.53 million Lexus and Avalon cars due to brake fluid and fuel pump problems. Link