3 Stocks Attracting the Eyes of Investors Following Earnings Releases
JPMorgan Chase & Co. (NYSE:JPM) reported its results for the fourth quarter. Net income for the financial services company fell to $3.73 billion (90 cents per share) vs. $4.83 billion ($1.12 per share) a year earlier. This is a decline of 22.8% from the year earlier quarter. Revenue fell 17% to $22.2 billion from the year earlier quarter. JPM fell short of the mean analyst estimate of 92 cents per share. It fell short of the average revenue estimate of $23.44 billion.
Jamie Dimon, Chairman and Chief Executive Officer commented: “Every day, we put the Firm’s resources to work to help our customers, corporate clients and the communities where we do business. During 2011, the Firm provided credit2 and raised capital of over $1.8 trillion for our commercial and consumer clients, up 18% from the prior year. We provided more than $17 billion of credit to U.S. small businesses, up 52% over prior year. We raised capital or provided credit of $68 billion for more than 1,200 not-for-profit and government entities, including states, municipalities, hospitals and universities. We also provided new credit cards to 8.5 million people and originated more than 765,000 mortgages. In order to help struggling homeowners, the Firm has offered more than 1.2 million mortgage modifications since 2009, of which 452,000 were completed.”
Competitors to Watch: Bank of America Corp. (NYSE:BAC), Wells Fargo & Company (NYSE:WFC), Citigroup Inc. (NYSE:C), Goldman Sachs Group, Inc. (NYSE:GS), Deutsche Bank AG (NYSE:DB), Morgan Stanley (NYSE:MS), U.S. Bancorp (NYSE:USB), SunTrust Banks, Inc. (NYSE:STI), UBS AG (NYSE:UBS), and KeyCorp (NYSE:KEY).
Lennar Corporation (NYSE:LEN) reported its results for the fourth quarter. Net income for the residential construction company fell to $30.3 million (16 cents per share) vs. $32 million (17 cents per share) a year earlier. This is a decline of 5.5% from the year earlier quarter. Revenue rose 10.8% to $952.7 million from the year earlier quarter. LEN fell short of the mean analyst estimate of 18 cents per share. It beat the average revenue estimate of $914 million.
Stuart Miller, Chief Executive Officer of Lennar Corporation, said, “We are pleased to report EPS of $0.16 for our fourth fiscal quarter of 2011, making this our seventh consecutive quarter of profitability. Despite operating in a challenging real estate market, we achieved profitability in all of our business segments.” “During the quarter, we continued to manage our homebuilding business carefully with tight controls over our costs and a focus on improving our gross margins. We benefited greatly from our strategic capital investments in new higher margin communities, which helped us produce a 21.6% gross margin, excluding valuation adjustments, in the fourth quarter.”
Competitors to Watch: PulteGroup, Inc. (NYSE:PHM), KB Home (NYSE:KBH), D.R. Horton, Inc. (NYSE:DHI), Standard Pacific Corp. (NYSE:SPF), Meritage Homes Corporation (NYSE:MTH), Toll Brothers, Inc. (NYSE:TOL), M.D.C. Holdings, Inc. (NYSE:MDC), Orleans Homebuilders (OHBIQ), The Ryland Group, Inc. (NYSE:RYL), and Comstock Homebuilding Companies, Inc. (NASDAQ:CHCI).
SUPERVALU INC. (NYSE:SVU) reported its results for the third quarter. Loss widened to $750 million ($3.54 per diluted share) from $202 million (loss of 95 cents per share) in the same quarter a year earlier. Revenue fell 4% to $8.33 billion from the year earlier quarter. SVU reported adjusted net income of 24 cents per share. By that measure, the company fell in line with the mean estimate of 24 cents per share. Analysts were expecting revenue of $8.42 billion.
“SUPERVALU continued to execute on its business transformation this quarter and remains on plan with its eight Plays to Win strategy,” said Craig Herkert, SUPERVALU’s chief executive officer and president. “Even with the ongoing difficult economic environment and pressured consumer, we continued to make progress against our plan, allowing us to invest in price to deliver everyday value and hyper local choices that meet the needs of our customers in the diverse neighborhoods we serve.”
Competitors to Watch: Safeway Inc. (NYSE:SWY), The Kroger Co. (NYSE:KR), Whole Foods Market, Inc. (NASDAQ:WFM), Winn-Dixie Stores, Inc. (NASDAQ:WINN), Ingles Markets, Inc. (NASDAQ:IMKTA), Nash-Finch Company (NASDAQ:NAFC), AMCON Distributing Co. (AMEX:DIT), Spartan Stores, Inc. (NASDAQ:SPTN), Wal-mart (NYSE:WMT), Target (NYSE:TGT) and Weis Markets, Inc. (NYSE:WMK).