Peter Schacknow, Senior Producer, CNBC Breaking News DeskWall Street’s weekly outcome hangs in the balance ahead of the final trading session of the week. The Dow and the S&P 500 are still up, but the Nasdaq is lower for the week following yesterday’s second straight day of losses for all three. The S&P 500 is on the most pronounced negative streak, having fallen in nine of 12 sessions.
After a flood of both corporate earnings and economic reports yesterday, the pace of information slows down considerably today, with no major U.S. economic releases on the calendar. This morning’s highest profile earnings report belongs to Dow components General Electric (GE) and McDonald’s (MCD), with Honeywell (HON), Johnson Controls (JCI), Kimberly-Clark (KMB), and Schlumberger also scheduled to report. As is usually the case on Fridays, there are no after-the-bell earnings reports on the schedule.
Microsoft (MSFT) leads our list of stocks to watch, earning 60 cents per share for its fiscal third quarter, three cents above estimates, with revenue also beating consensus. Microsoft’s results were helped by better than expected overall personal computer sales during the quarter.
Chipotle Mexican Grill (CMG) reported first quarter profit of $1.97 vs. Street estimates of $1.93, and also reported better than expected revenue. Chipotle’s same-store sales topped analyst forecasts, and the bottom line was also helped by menu price increases instituted in 2011.
Advanced Micro Devices (AMD) earned $0.12 per share for its first quarter, three cents above estimates. Revenue registered a slight beat, as AMD joined Microsoft in benefiting from better than expected PC demand.
Capital One (COF) beat estimates by 17 cents with its first quarter profit of $1.56 per share. Revenue of $4.9 billion was above the consensus estimate of $4.37 billion, on better than anticipated loan volume.
Tempur-Pedic (TPX) earned $0.86 per share for the first quarter, two cents above estimates, with revenue essentially in line. However, its fiscal year guidance of $3.80 - $3.95 per share is below estimates of $3.97. That disappointed investors, who have grown accustomed to the mattress maker raising its outlook in recent quarters.
SanDisk (SNDK) reported first quarter profit of $0.63 per share, seven cents below estimates, with the chipmaker citing lower than expected prices. SanDisk CEO Sanjay Mehrotra also says demand weakness in certain segments is likely to persist through the current quarter before improving in the second half of the year.
Riverbed Technologies (RVBD) took a 17% hit in after-hours trading, after the maker of networking gear reported lower than expected revenue for the first quarter, as well as forecasting second quarter profit and sales that fell below analyst estimates. The company has suffered from the effects of product upgrade delays.
Ethan Allen (ETH) is forecasting fiscal third quarter profit of $0.17 to $0.19 per share, compared to analyst estimates of $0.19. The furniture maker attributes the potential shortfall to expenses related to revamping its product line. The company did increase its quarterly dividend to $0.09 per share from $0.07, a rise of 29%.
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