Wednesday, 03 February 2010 20:56
Exxon Mobil: XOM reported quarterly earnings of $1.27, ahead of the $1.19 consensus estimate, on a 6.1% rise in revenues. Amazingly, Exxon spent $18 billion on stock buy backs last year, reducing the shares outstanding by 5% or 277 million shares.
BP PLC: Despite a 21% increase in revenues, BP's net earnings fell short of Wall Street estimates due to weaker than expected refining margins. BP shares offer a substantial 6.1% dividend yiled.
Emerson: The company trounced expectations with quarterly earnings of .56 cents compared to the .42 cent consensus. EMR raised guidance for the year to $2.20 to $2.40 per share, up from $2.11,
Automatic Data Processing: ADP reported earnings of .62 cents per share, beating the .57 cent estimate. The company now expects full year earnings at the high end of its previous guidance of between $2.34 to $2.39 per share on revenues that are only slightly ahead of prior expectations.
In other news, L-3 Communications raised its dividend by 14% from .35 cents per share to .40 cents and McDonald's was added to Goldman's "conviction buy" list with a $75 target.