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Earnings Round-Up: PetMed Express, Invesco, V.F. Corporation, and Eaton

PETS, IVZ, VFC, and ETN are all gaining ground post-earnings

by 10/24/2011 11:45:02 AM
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Earnings season continues this week, with a slew of quarterly reports under the microscope, including those from Caterpillar (CAT) and Lorillard (LO). Among other stocks making post-earnings moves in today's session are pet pharmaceutical concern PetMed Express, Inc. (PETS), investment strategist Invesco Ltd. (IVZ), apparel designer V.F. Corporation (VFC), and truck supplier Eaton Corporation (ETN). Here's a brief recap of each company's latest quarterly results.

  • First up, citing its decision to not sell a generic version of the popular flea and tick medication Frontline, PETS said its second-quarter earnings fell 21%, to $3.9 million, or 19 cents per share, from its year-ago earnings of $4.98 million, or 22 cents per share. Revenue for PETS dropped 4.9% to $58.2 million, from $61.2 million on a year-over-year basis. The results were mixed, as analysts expected earnings of 15 cents per share on sales of $60.6 million. The stock is shrugging off its top-line miss -- PETS is up over 7% this morning, and is seemingly ready to conquer its 50-day moving average, a feat not accomplished since April 29.
  • Daily price chart of PETS since April 2011

  • IVZ reported third-quarter earnings of $166.9 million, or 36 cents per share. This represents a 7.9% increase from last year's third-quarter earnings of $154.7 million, or 32 cents per share. Excluding items, IVZ earned 42 cents per share. Revenue for the company was also up 4.7% to $997.8 million. The results were mixed, as Wall Street forecast adjusted earnings of 40 cents per share on $1.02 billion in revenue. The company is crediting higher fees for the increase in profits. IVZ is attempting to erase some of its steep 22% year-to-date deficit, and finds itself up nearly 2.5%.
  • VFC found itself tagging a new annual high of $139.63 in today's session, after reporting third-quarter earnings before the bell. VFC's profits rose 24% to $300.7 million, or $2.69 per share, from $242.8 million, or $2.22 per share from a year ago. Excluding items, VFC earned $2.87 per share. Revenue rose 23% to $2.75 billion. The results came in better than expected, as analysts had projected a profit of $2.58 per share on $2.63 billion in revenue. Furthermore, VFC upped its full-year earnings forecast and approved a 14% dividend boost. The stock continues to be ushered higher by its 10-day moving average.
  • Participating in the steady growth among the trucking sector, ETN reported a 36% increase in third-quarter earnings this morning, with profits arriving at $365 million, or $1.07 per share, compared to $268 million, or 78 cents per share on a year-over-year basis. Excluding items, ETN earned $1.08 per share. Meanwhile, revenue increased by 15% to $4.12 billion. Analysts had predicted earnings of $1.08 per share on $4.18 billion in revenue. The stock has moved north of its 80-day moving average -- an area not visited since July 25.


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