Company News for April 24, 2009 – Corporate Summary
Source: http://www.zacks.com/stock/news/19482/Company+News+for+April+24%2C+2009+-+Corporate+SummaryPosted on Friday, April 24th, 2009 | In Market Commentary, Stocks to Watch
* Schlumberger (NYSE:SLB) reported first quarter net income of $938.5 million, or 78 cents a share, down from $1.3 billion, or $1.09 a year earlier, and beat estimates of 73 cents a share, as revenues declined to $6.0 billion from $6.29 billion
* Credit Suisse (NYSE:CS) received an upgrade to “neutral” from “sell” from UBS (NYSE:UBS), on expected stronger revenue momentum and capital generation at its investment banking unit
* Media reports said Chrysler is readying its Chapter 11 bankruptcy filing for submission as soon as next week
* Honeywell (NYSE:HON) reported inline first quarter results of 54 cents a share as revenues, as expected, fell 15% to $7.57 billion. For the full year, earnings are expected in a range of $2.85-$3.20. Street estimates are $3.03
* American Electric Power (NYSE:AEP) reported first quarter results of 89 cents, topping estimates by 2 cents, on in-line revenues of $3.5 billion. Corporate guidance matched Street projections
* Xerox (NYSE:XRX) reported better-than-expected first quarter results of 5 cents, a one penny improvement over estimates, as revenues fell 18% to $3.55 billion, in line. The company expects second quarter results of 10-12 cents versus 14 cents
* Ford (NYSE:F) topped Street estimates with a 75-cent loss, better than the anticipated loss of $1.23, as revenues fell 42.7% to $24.8 billion. The company maintained its target for a breakeven or improved 2011
* 3M (NYSE:MMM) reported a nickel miss, with earnings of 81 cents versus 86 cents as revenues came in at $5.09 billion, missing estimates of $5.22 billion. The company lowered 2009 full-year EPS to a range of $3.90-$4.30, vs. consensus estimates of $4.01
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