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Cypress Semiconductor Corporation (CY)
Cypress Semiconductor Corp. (NYSE:CY) today announced that revenue for the 2009 third quarter was $178.7 million, up 15% from $155.8 million for the prior quarter, and down 20% from $222.7 million for the year-ago period (excluding SunPower). Cypress recorded a GAAP net loss of $19.7 million in the 2009 third quarter, or a diluted net loss per share of $0.13. This compares with last quarter’s diluted net loss per share of $0.32 and diluted earnings per share in the year-ago third quarter of $0.86.
Q3 results exceeded guidance and revenue increased was a good surprise.
Oct 15 · 10:44:00 AM · Source: Business Wire
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by Larry Etter
Capital One (COF)
Capital One Financial reported in a regulatory filing that its annualized net charge-off rate has risen to 9.77% in September up from 9.32% in August.
This is another sign that U.S. consumers remain under stress. Accounts at least 30 days delinquent, an indicator of future loan losses, increased to 5.38% percent from 5.09% percent.
Oct 15 · 10:37:00 AM · Source: CNBC
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by Michael Oliveto
Southwest Airlines (LUV)
Southwest Airlines (NYSE: LUV) today reported a third quarter Net loss of $16 million, or $.02 loss per diluted share, compared to a net loss of $120 million, or $.16 loss per diluted share, for third quarter 2008. Third quarter 2009 results included special items (net of profitsharing and taxes) consisting of a charge of $27 million relating to the Company's early-out program and a net loss of $12 million, relating to non-cash, mark-to-market and other items associated with a portion of the Company's fuel hedge portfolio.
Q3 operating revenues were 2,666,000 vs. 2,891,000 in last year's comparable period, a decrease of 7.8.
Oct 15 · 10:37:00 AM · Source: PR Newswire
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by Larry Etter
Harley-Davidson (HOG)
Harley Davidson reported earnings of $0.11 per share missing analyst’s forecasts of $0.21 per share. Sales fell 21% to $1.12 billion.
The company plans to discontinue its Buell product line and sell its MV Agusta unit, essentially exiting the sport bike market. It expects to book $125 million in one-time costs associated with the moves.
Oct 15 · 10:17:00 AM · Source: CNBC
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by Michael Oliveto
Walgreen (WAG)
The board of Walgreen Co. (NYSE: WAG) (NASDAQ: WAG) announced it has authorized a new $2 billion share repurchase program. The program, which expires at the end of 2013, replaces the previous $1 billion plan announced in January 2007 which had approximately $655 million remaining. Since 2004, Walgreens has repurchased more than $1.3 billion of common stock.
Walgreen's board also declared a regularly quarterly dividend of 13.75 cents per share, a 22.2 percent increase over the year-ago dividend, and set a long-term dividend payout target of 30 to 35 percent of net earnings.
Oct 15 · 10:12:00 AM · Source: Business Wire
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by Larry Etter
Citigroup (C)
Citigroup reported a $0.27 loss beating the consensus $0.38 loss on revenues of $20.4 billion.
Allowances for loan losses has risen to $36.4 billion which is now 5.9% of total loans. CEO Vikram Pandit commented that consumer credit trends are improving in international markets, but noted that the domestic consumer credit environment remains challenging.
Oct 15 · 10:10:00 AM · Source: 24/7 Wall Street
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CPI
The Consumer Price Index rose 0.2 percent in September, which followed a 0.4 percent increase in August.
The slower pace of CPI rise in September showed that inflation will not be a threat as the economy emerges from the worst recession since the Great Depression.
Oct 15 · 9:58:00 AM · Source: Bloomberg
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by Larry Etter
Safeway (SWY)
Safeway Inc. today reported net income of $128.8 million ($0.31 per diluted share) for the third quarter of 2009 compared to net income of $199.7 million ($0.46 per diluted share) for the third quarter of 2008.
Safeway's CEO said sales remained soft, driven largely by deflation in dairy, produce and meat, and a sluggish economy, but company is encouraged encouraged that its household and transaction counts increased in the quarter, and that volume trends continue to improve.
Oct 15 · 9:50:00 AM · Source: Business Wire
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by Larry Etter
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