Sunday, March 3, 2013

Morning Movers: Retreat Hits DPZ, MRO, DUK, BHI, ADM

Domino’s Pizza Off 9% Despite Q1 Beat

The 2% drop in the Dow and the S&P has accelerated the decline of some earnings losers this morning and savaged even the bright spots:

Domino’s Pizza (DPZ) is down $1.38, or 9%, at $14.68 after the company reported Q1 revenue rose 18% and beat estimates at $381 million, while profit per share beat by 2 cents. The company offered no forecast, but said that it expects “solid results” in Q2 coming off of a 14.2 rise in same-store sales in Q1, which was above the level for same-store growth a year earlier.

Marathon Oil (MRO) is down 13 cents at $32.15 after the company beat Q1 revenue and earnings per share comfortably, with domestic exploration and production swinging to a profit from a year-earlier loss and international profits more than doubling.

Utility Duke Energy (DUK) is off 8 cents at $16.85 after the company beat Q1 revenue and EPS estimates comfortably but forecast this year’s profit at $1.25 to $1.30 per share, which is below the consensus $1.29.

Driller Baker Hughes (BHI) is down $1.97, or 4%, at $48.75 after the company beat Q1 revenue and earnings estimates but said EPS this quarter will be in the “low 40 range,” which is about in line with the average 44-cent estimate of analysts, owing in part to the “Gulf of Mexico issues,” referring, of course, to BP’s (BP) giant oil spill in the Gulf. The company is selling off some oil drilling assets in the Gulf picked up from its purchase last month of BJ Services (BJS).

Archer-Daniels (ADM) is down $1.35, or 5%, at $26.37 after the company this morning missed fiscal Q3 revenue and profit estimates. Revenue rose 2% in the quarter while operating costs were up 3%. On the brighter side, the company is seeing improved demand for biodiesel in Europe and South America, it said.

MasterCard (MA) has kept its head above water, rising $1 to $251.65 after the company beat Q1 revenue estimates and soared past profit forecasts with a 32-cent beat on $3.46 in EPS. The company had its strongest volume growth since the third quarter of 2008, it said.

No comments:

Post a Comment