US Steel, AMTD, EVVV, BIDU, HMC, CE, LULU, AKS Popular Stocks
U.S. stocks traded mixed Tuesday with the Dow Jones Industrial Average rose 0.47% to 9914 the S&P 500 jumped 0.06% to 1068 but the Nasdaq composite down 0.71% to 2126.
United States Steel Corp. (NYSE:X, $37.19, -$3.39, -8.36%) lost money for a third straight quarter as the global economic downturn dragged down demand for the metal used in everything from cars to office furniture. U.S. Steel’s flat-rolled, or sheet steel, business lost $370 million, down from a profit of $846 million a year earlier. Its tubular steel business also lost money — $21 million — compared with a profit of $420 million in last year’s quarter. Its European operations also fell sharply, but turned a profit of $7 million, versus $173 million a year earlier.
TD Ameritrade Holding Corp.’s (NASDAQ:AMTD, $19.27, -$0.21, -1.08%) fiscal fourth-quarter earnings fell a less-than-expected 8.9% as the company posted new highs in average client trades per day and net new assets. For the quarter ended Sept. 30, TD Ameritrade posted a profit of $156.7 million, or 26 cents a share, down from $172 million, or 29 cents a share, a year earlier. Revenue increased 1.3% to $657.9 million. A survey of analysts by Thomson Reuters predicted earnings of 22 cents on $630 million in revenue.
Endovascular device maker ev3 Inc (NASDAQ:EVVV, $12.79, +$1.17, 10.07%) posted better-than-expected quarterly profit, helped by strong growth in its neurovascular and international businesses. For the third quarter, net income was $6.7 million, or 6 cents a share, compared with net loss of $7.3 million, or 7 cents a share, in the year-ago period. Excluding items, the company earned 17 cents a share. Net sales rose 5 percent to $112.8 million.
Baidu Inc. (NASDAQ:BIDU, $376.19, -$56.78, -13.11%) said Monday in the U.S. its third-quarter earnings jumped 42% as large customers shifted more of their advertising budgets to the leading Chinese search engine’s advertising platform. Baidu reported earnings of CNY492.9 million ($72.2 million), or CNY14.14 per American depositary share, for the three months ended Sept. 30 compared with CNY347.9 million, or CNY10 per ADS, a year earlier. Analysts polled by Thomson Reuters projected earnings of $1.83 an ADS. Revenue surged 39% to CNY1.28 billion. In July, the company said it expected revenue of $184 million to $189 million, topping Wall Street estimates at the time.
Honda Motor Co. Ltd. (NYSE:HMC, $32.60, +$1.57, 5.06%) said Tuesday its net profit sank 56% in the fiscal second quarter, as the yen’s strength and slack auto demand more than offset cost-cutting efforts and solid sales of fuel-efficient vehicles. For the just-ended quarter, Honda posted a net profit of Y54.04 billion in the three months ended Sept. 30, down from Y123.32 billion a year earlier. The result was stronger than a mean analyst estimate of a Y43.9 billion net profit compiled by Thomson Reuters based.
Celanese Corporation (NYSE:CE, $28.25, +$2.29, 8.82%), a leading, global chemical company, today reported third quarter 2009 net sales of $1,304 million, a 28 percent decrease from the same period last year, with the ongoing global recession continuing to impact year-over-year comparisons.
Lululemon Athletica (NASDAQ:LULU, $28.30, +$2.59, 10.07%) raised its third-quarter guidance by 6 cents, saying its revenue is coming in stronger than expected. It now expected revenue of $110 million to $112 million from its prior guidance of $95 million to $100 million.
AK Steel Holding Corp (NYSE:AKS, $17.32, -$1.47, -7.82%) posted a third-quarter profit on Tuesday after two consecutive losses, beating Wall Street estimates. AK Steel’s third-quarter net earnings were $6.2 million, or 6 cents per share, compared with earnings of $188.3 million, or $1.67 per share, in the same quarter last year. Revenue fell more than half to $1.04 billion.
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