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Earnings Round-Up: OfficeMax, Starwood Hotels, Teck Resources, and SolarWinds

OMX, HOT, TCK, and SWI are on the move after reporting quarterly earnings

by 10/27/2011 12:15:42 PM
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Quite a few heavy hitters have stepped up to the earnings plate today, with Dow components Exxon Mobil (XOM) and Procter & Gamble (PG) both trading fractionally higher on the heels of their respective quarterly reports. Among the other notable names confessing their latest earnings and revenue figures today are retailer OfficeMax Incorporated (OMX), hospitality concern Starwood Hotels & Resorts Worldwide, Inc. (HOT), Canadian commodity stock Teck Resources Limited (TCK), and software specialist SolarWinds, Inc. (SWI). Here's a brief overview of each company's latest financial results.

  • Office supply firm OMX said this morning that its third-quarter profit rose 7.3% to $22 million, or 25 cents per share, even as revenue retreated 2.1% to $1.77 billion. The bottom-line results were better-than-expected, as analysts were looking for earnings of 23 cents per share. OMX is up more than 5% on the heels of its quarterly report to trade at $5.55, but the stock has yet to find purchase above its 80-day moving average. This trendline hasn't been bested on a daily closing basis since Jan. 27.
  •  Daily Chart of OMX since January 2011 With 80-Day Moving Average

  • Turning to HOT, the hotelier banked an adjusted third-quarter profit of 60 cents per share on revenue of $1.36 billion, easily surpassing the Street's forecast for earnings of 39 cents per share on $1.37 billion in revenue. HOT also raised its full-year earnings forecast to a range between $1.75 and $1.79 per share, up from its July guidance for a profit of $1.67 to $1.77 per share. The stock has vaulted higher today, with HOT up 4.2% at $51.63 at last check. The shares have now broken out above short-term resistance at their 120-day moving average.
  • Also on the upswing is TCK, which reported record third-quarter revenue of C$3.4 billion -- comfortably north of the consensus estimate of C$3.12 billion. As a result, traders are overlooking a softer-than-expected profit of C$1.26 per share. In fact, TCK has notched a gain of 8.5% so far, with the shares lingering at $40.18. The stock is attempting to chip away at its substantial year-to-date deficit of 40%, but TCK's upward momentum tapered off today near the $43 level, which previously served as support back in June.
  • Last, but not least, SWI spiked to a fresh all-time high of $28.19 today, as traders have responded enthusiastically to the company's earnings report. SWI unveiled an adjusted profit of 31 cents per share on revenue of $53.9 million, compared to the average analyst estimate for earnings of 23 cents per share on $51.7 million in revenue. The shares have rallied more than 15% following the upside surprise, with SWI currently testing the waters at $27.64. In fact, the stock seems to be looking for its first-ever weekly close above resistance in the $25-$26 area, which could potentially switch roles to act as support.


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