3 Stocks Making Moves After Announcing These Earnings
CBRE Group Inc. (NYSE:CBG) reported its results for the fourth quarter. Net income for CBRE Group Inc. fell to $79.8 million (25 cents per share) vs. $95.1 million (30 cents per share) a year earlier. This is a decline of 16.2% from the year earlier quarter. Revenue rose 6.8% to $1.76 billion from the year earlier quarter. CBRE Group Inc. reported adjusted net income of 46 cents per share. By that measure, the company beat the mean estimate of 44 cents per share. It fell short of the average revenue estimate of $1.86 billion.
“2011 was a year of unexpectedly tough operating conditions in many parts of the world, particularly in the back-half of the year. Nevertheless, we recorded our second-best year ever for both revenues and normalized EBITDA, enhanced our platform with the ING REIM acquisitions and strategic recruiting, and made other investments that will further position CBRE for leadership across market cycles,” said Brett White, chief executive officer of CBRE.
Competitors to Watch: Jones Lang LaSalle Inc. (NYSE:JLL), Grubb & Ellis Company (NYSE:GBE), Kennedy-Wilson Hldgs., Inc. (NYSE:KW), HFF, Inc. (NYSE:HF), General Electric Company (NYSE:GE), E-House (NASDAQ:CHINA) Hldgs. Ltd. (NYSE:EJ), American Spectrum Realty, Inc. (AMEX:AQQ), and Walker & Dunlop, Inc. (NYSE:WD).
Axis Capital Holdings Limited (NASDAQ:AXS) reported its results for the fourth quarter. Net income for the property and casualty insurance company fell to $89.3 million (63 cents per share) vs. $273.6 million ($1.99 per share) a year earlier. This is a decline of 67.4% from the year earlier quarter. Revenue rose 0.3% to $945.7 million from the year earlier quarter. Axis Capital Holdings Limited beat the mean analyst estimate of 48 cents per share. It beat the average revenue estimate of $514.8 million.
John Charman, Chief Executive Officer and President of AXIS Capital, stated: “An extraordinary series of costly natural disasters, which are estimated to have cost our industry over $100 billion, took center stage in 2011. These occurred against the backdrop of a prolonged soft market at perhaps the weakest phase in its business cycle, when adequate pricing remained extremely difficult to obtain. Further, on the asset side, we experienced the persistence of abnormally low interest rates, which made low-risk investment income difficult to achieve.”
Competitors to Watch: Aspen Insurance Hldgs. Ltd. (NYSE:AHL), Validus Holdings, Ltd. (NYSE:VR), RenaissanceRe Hldgs. Ltd. (NYSE:RNR), PartnerRe Ltd. (NYSE:PRE), Flagstone Reinsurance Hldgs. SA (NYSE:FSR), Platinum Underwriters Hldgs., Ltd. (NYSE:PTP), Montpelier Re Hldgs. Ltd. (NYSE:MRH), Everest Re Group, Ltd. (NYSE:RE), and Maiden Holdings, Ltd. (NASDAQ:MHLD).
LPL Investment Holdings Inc. (NASDAQ:LPLA) reported its results for the fourth quarter. Reported a profit of $39.4 million (35 cents per diluted share) in the quarter. LPL Investment Holdings Inc. had a net loss of $116.6 million or a loss $1.20 per share in the year earlier quarter. Revenue was $828.7 million last quarter. LPL Investment Holdings Inc. reported adjusted net income of 44 cents per share. By that measure, the company fell short of mean estimate of 46 cents per share. It fell short of the average revenue estimate of $875.2 million.
“Against the backdrop of a volatile year for financial markets and the global economy, we are very pleased with our record levels of revenue and Adjusted Earnings in 2011,” said Mark Casady, LPL Financial chairman and CEO.
Competitors to Watch: Raymond James Financial, Inc. (NYSE:RJF), Morgan Stanley (NYSE:MS), Ameriprise Financial, Inc. (NYSE:AMP), The Charles Schwab Corp. (NYSE:SCHW), Morningstar, Inc. (NASDAQ:MORN), Financial Engines Inc (NASDAQ:FNGN), FXCM Inc (NYSE:FXCM), The Bank of New York Mellon Corp. (NYSE:BK), Bank of America (NYSE:BAC), Citigroup (NYSE:C), JP Morgan (NYSE:JPM), TD Ameritrade Holding Corp. (NASDAQ:AMTD), and optionsXpress Hldgs., Inc. (NASDAQ:OXPS).
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