Honeywell (NYSE:HON) reported Q1 EPS of $1.04, topping estimates by $0.05.Revenues in the quarter rose 7% year-over-year to $9.31 billion, beating estimates by $150 million.The company expects annual EPS $4.35-$4.55, had seen $4.25-$4.50, vs. estimates of $4.44.Honeywell International (NYSE:HON) has potential upside of 15.8% based on a current price of $58 and an average consensus analyst price target of $67.19.
One of the most successful coffee chains in the U.S. is recalling an ingredient in some of its drinks that is really not harmful, it’s just not right.That’s what a lot of people said when they found out that Starbucks (NYSE:SBUX) uses a cochineal extract made from the juice of crush up beetles that dyes some of their flavored drinks.The dye itself is used in many food and cosmetic products and is an approved ingredient for consumption. But, a South Carolina woman started a petition to inform other customers that the dye was not vegan-friendly.Starbucks will be recalling the dye and reformulating their drinks to use another staining method made from tomato extract.
Royal Caribbean (NYSE:RCL) shares are trading lower after the company cut its 2012 EPS forecast.Royal Caribbean now sees 2012 EPS $1.80-$2.10, vs. it’s prior guidance of $1.90-$2.30, and estimates of $2.15.RCL said it was seeing effects of Costa Concordia tragedy waning and it didn’t expect L-T impact.The company sees 2012 net yields up 1%-4% reported, up 2%-5% constant- currency.However, on the bright side it says Q4 bookings for 2012 and 2013 sailings remain strong.
Walt Disney’s (NYSE:DIS) film chief Ross stepped down after its well known loss on ‘John Carter.’Reuters reported that Rich Ross, who was Chairman of Walt Disney’s movie studio, quit his position after a two-year stint.While ‘John Carter’ was a flop, Ross was responsible for creating franchises like ‘High School Musical’ and ‘Hannah Montana.’
With earnings season in full swing the markets are a buzz with big losers and gainers.Let’s take a look at some right now.First we have HanesBrands (NYSE:HBI) which is a big winner, up 11% higher in the session, putting its price at $29.79. This comes on news of their earnings release which was not-so-bad having an only 27-cent loss as compared to the 33 cents expected.Then there is E-Trade (NASDAQ:ETFC) another big winner on Wall Street, up almost 7% on the day. They posted their quarterly earnings yesterday of 22 cents a share or a profit of $62.6 million. This was a huge growth from the same period last year which was only $45 million or 16 cents a share.Now with some big losers in the markets right now, Tempurpedic International (NYSE:TPX) shares are down over 20% due to their earnings release. They are not down because of their first quarter earnings though, that beat estimates. The reason for the losses is their lower than expected 2012 forecast. Analysts were expecting the mattress company to predict earnings of $3.97 per share on revenue of $1.66 billion. But, Tempurpedic said they expect earnings between $3.80 to $3.95 per share on revenue of $1.6 to $1.65 billion.And finally we have Sandisk Corporation (NASDAQ:SNDK) which is currently down over 13% on the day. Their downward shift is due to their disappointing earnings which came in at 63 cents a share, while analysts were looking for earnings of 70 cents a share. Their revenue for the quarter declined 7% year over year to $1.21 billion and fell 24% from the fourth quarter.That’s it for today’s market movers. For more insight into the financial and business world stay tuned to the Financial News Network at FNNO.com
According to Endgadget, Amazon (NASDAQ:AMZN) is shipping its Kindle Touch1 a week early in Europe.Amazon has reportedly already started shipping the new product, the Kindle Touch, and Touch 3G in France, Germany, Italy, Spain and UK.The Touch’s release date was originally set for April 27th.
Investors are talking about Netflix today, ahead of its quarterly earnings release at the beginning of next week.The streaming movie service could be facing a loss. Wall Street is expecting Netflix to show a loss of about 27 cents a share. This is due to higher streaming costs and lower customer growth over the past quarter.In 2011, costs of licensing, acquiring and delivering content soared more than 55 percent to $1.8 billion according to a Netflix regulatory filing, something that could be a big factor in its earnings. The company expects to add up to 1.9 million U.S. streaming subscribers in the quarter while losing as many as 1.8 million DVD customers, and adding 1.2 million subscribers internationally.No matter what though, the streaming movie service will be a stock to watch next week whatever the earnings may be.
Shares of Cheniere Energy (NYSE:LNG) popped 11% premarket after FERC approved the company’s order allowing it to build the largest natural gas export terminal in the US.Among top holders, according to Bloomberg’s data, is Orbis Holding with a 10% stake, Prudential Financial with a 5.6% stake as of 2/29 and Jennison Associates with a 5.2% stake.There is a short interest of 5.9% of the float, up from 3.5% in late March.
TD Ameritrade (NASDAQ:AMTD) reported fiscal Q2 EPS of $0.25, missing estimates by $0.01.Revenues in the quarter came in at $673 million, inline with estimates.The company reported EBITDA of $260 million, vs. estimates of $268.8 million.The company reported NIM of 1.69% vs. 1.7% q/q.The company maintained its $0.06 quarterly dividend.
4-19-12-Bank of America (NYSE:BAC) reported Q1 EPS of $0.31, beating estimates of $0.12.Revenues in the quarter fell 10% year-over-year to $22.5 billion, missing estimates by $500 million.Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.
