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Auction-rate securities hurt tech company results, lawsuits ahead?
http://www.bloggingstocks.com/ 2008/ 03/ 28/ auction-rate-securities-hurt-tech-compa...
Auction-rate securities hurt tech company results, lawsuits ahead? Posted Mar 28th 2008 3:35PM by Douglas McIntyre Filed under: Earnings reports, Bad news, Monster Worldwide (MNST), Palm Inc (PALM) Auction-rate securities were supposed to be cash equivalents. Individuals and companies could move in and out of them in a day. The financial instruments have existed since 1985. In an auction, any imbalance in securities bought and sold were picked up by banks and brokerages and sold at the next event. These auctions went on as often as several times a week.
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Earnings highlights: Adobe, ConAgra, Lennar, Oracle, Tiffany, Darden and others
http://moneynews2u.com/2008/03/29/earnings-highlights-adobe-...Filed under: Earnings reports, Walgreen Co (WAG), Penney (J.C.) (JCP), Adobe Systems (ADBE), Tiffany and Co (TIF), ConAgra Foods (CAG), Darden Restaurants (DRI), KB HOME (KBH), Lennar Corp’A’ (LEN), Oracle Corp (ORCL), CKE Restaurants (CKR) Here are some highlights from this past week’s earnings coverage from BloggingStocks: AAR Corp. (NYSE: AIR) posted record third-quarter earnings and revenue. Adobe Systems Inc. (NASDAQ: ADBE) posted better-than-estimated first-quarter results and raised its outlook. CKE Restaurants Inc. (NYSE: CKR) posted third-quarter results that missed estimates. ConAgra Foods Inc. (NYSE: CAG) third-quarter profit surged as strong sales offset commodity prices. Darden Restaurants Inc. (NYSE: DRI) beat third-quarter expectations and offered guidance. FactSet Research Systems Inc. (NYSE: FDS) second-quarter results beat estimates and it raised its outlook. Fortress Investment Group (NYSE: FIG) remained upbeat despite a fourth-quarter loss. Guess Inc. (NYSE: GES) record fourth-quarter results beat Wall Street expectations. Inter Parfums Inc. (NASDAQ: IPAR) posted better-than-estimated fourth-quarter results and raised its outlook. Jabil Circuit Inc. (NYSE: JBL) beat second-quarter expectations but lowered its guidance. JC Penney Co. Inc. (NYSE: JCP) lowered its first-quarter outlook on weaker-than-expected sales. KB Home (NYSE: KBH) swung to a larger-than-expected first-quarter loss on write-downs. Lennar Corp. (NYSE: LEN) posted a smaller-than-expected first-quarter loss. Monsanto Co. (NYSE: MON) raised its second-quarter and full-year guidance. Oracle Corp. (NASDAQ: ORCL) merely met earnings expectations, sending shares lower. Tiffany & Co. (NYSE: TIF) posted better-than-estimated fourth-quarter results and raised its outlook. Usana Health Sciences Inc. (NASDAQ: USNA) posted lower-than-expected first-quarter results. Walgreen Co. (NYSE: WAG) posted solid second-quarter results, including same-store sales growth. Also, auction-rate securities issues may hurt some tech company results. Analysts keep cutting earings estimates for the big banks, but some are eyeing Yum! Brands (NYSE: YUM) earnings prospects as it expands in China, as well as Archer Daniels Midland (NYSE: ADM) on soaring demand for commodities. Upcoming results to watch for include Best Buy (NYSE: BBY), Monsanto (NYSE: MON), and Research in Motion (NASDAQ: RIMM). Visit AOL Money & Finance for more earnings coverage. Permalink | Email this | Comments
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