Monday, August 9, 2010

HEADLINE HITS Updated 09-Aug-10

10:07 ET 

EBIX Beats Q2 Expectations

Ebix (EBIX 17.70 +0.74) reported second quarter earnings of $0.36 per share, $0.06 better than the two estimate average of $0.30.
Revenues rose 43.8% year-over-year to $32.2 million versus the $31.8 million two estimate average.
The Exchange channel grew 73% year over year to $22.7 million or 71% of the second quarter revenues. The BPO channel grew 7% year over year, to $4.0 million or 12% of the second quarter revenues.
The Broker Channel grew 17% year over year, to $3.3 mln or 10% of the second quarter revenues. The Carrier channel dropped 20% year over year, to $2.2 million or 7% of the second quarter revenues.
The company said, "While the co does not completely rule out the possibility of issuing dividends in the future, at present we are more inclined to use our cash to generate further improvement in future earnings."

09:53 ET 

DISH Tops Q2 Expectations (DISH)

DISH Network (DISH 19.01 -1.83) reported second quarter earnings of $0.57 per share, $0.04 better than the Thomson Reuters consensus of $0.53.
Revenues rose 9.1% year-over-year to $3.17 billion versus the $3.13 billion consensus.
DISH Network lost approximately 19,000 net subscribers during the quarter ended June 30, 2010, ending the quarter with approximately 14.318 million subscribers.

09:47 ET 

JADE Reports Solid YoY Results in Q2

LJ Intl (JADE 3.14 +0.19) reported second quarter earnings of $0.09 versus the $0.01 year-over-year.
Revenue rose 47% to $33 million in the prior year's quarter.
Looking ahead, the company sees third quarter revenues growing 30% to $34 million.

09:42 ET 

MCD Global Comparable Sales Rise 7.0% In July

McDonald's (MCD 73.04 +1.30) global comparable sales up 7% in July: U.S. up 5.7%; Europe up 5.3%; Asia/Pacific, Middle East and Africa up 10.1%.

09:37 ET 

HPQ CEO Resigns Following Sexual Harrassment Charge

Hewlett-Packard (HPQ 43.51 -2.79) announced that Chairman, Chief Executive Officer and President Mark Hurd has decided with the Board of Directors to resign his positions effective immediately.
The Board has appointed CFO Cathie Lesjak, 51, as CEO on an interim basis. Lesjak is a 24-year veteran of the company who has served as HP's CFO and as a member of the company's Executive Council since January 2007. She oversees all company financial matters and will retain her CFO responsibilities during the interim period. Hurd's decision was made following an investigation by outside legal counsel and the General Counsel's Office, overseen by the Board, of the facts and circumstances surrounding a claim of sexual harassment against Hurd and HP by a former contractor to HP.
The investigation determined there was no violation of HP's sexual harassment policy, but did find violations of HP's Standards of Business Conduct. Lesjak has taken herself out of consideration as the permanent CEO but will serve as interim CEO until the selection process is complete. The selection of a new chairman will occur in conjunction with the CEO decision.
Also, the company raised its earnings guidance for its third quarter to approx. $1.08 per share versus the $1.07 Thomson Reuters consensus, up from $1.05 to $1.07. For its fourth quarter, the company issues earnings guidance of $1.25 to $1.27, in-line with the $1.26 Thomson Reuters consensus. On the top line, the company sees revenue falling in the range of $32.5 billion to $32.7 billion versus $32.63 billion Thomson Reuters consensus.
For its fiscal year 2010, the company raised earnings guidance to $4.49 to $4.51 per share, in-line with the $4.49 Thomson Reuters consensus, up from $4.45 to $4.50 previously. The company expects revenues to be $125.3 billion to $125.5 billion, above the $124.52 billion Thomson Reuters consensus, up from $123.7 billion to $124.9 billion previously.
Source: Briefing

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