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Earnings Watch: Result Ahead This Week
By: iStockAnalyst   Tuesday, October 14, 2008 5:00 PM
Sectors: Finance , Medical , Retail/Wholesale
Symbols: EBAY, PNC, STJ, UTX
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(By Arun - iStockAnalyst Writer) Some of the most interesting events have plagued the markets in the recent past and the next few days is dotted along with several earnings announcements to lookout for, to summarize a few of them.

stock chart St. Jude Medical (NYSE:STJ) which is set to report its third quarter on Oct 15 seems to have got lucky with its timing of its results. The stock has seen a significant upside in its trade today as the news of the company receiving an approval for European CE marking of its SJM Confirm(TM) implantable cardiac monitor, a compact device designed to detect atrial fibrillation and other abnormal heart rhythms. The SJM Confirm ICM will be launched in Europe this month. St. Jude Medical is one of the leading manufacturers and sellers of medical devices & a significant share of the global cardiac rhythm management market.

stock charteBay (NASDAQ:EBAY) reporting third quarter results on Oct 15. The company has been in the limelight for its decision to trim its workforce recently and much before that for huge settlement fees paid to luxury goods manufacturer Tiffany as well as Louis Vuitton over sale of fake goods on the internet auctioneer’s site. In a more recent development the company has plans to go big on the fast-growing U.S. web classifieds unit through growth in its U.S.-based Kijiji business. The company’s executives were of the opinion that the current economic crisis is the time when one would witness more buying and selling in the markets, mostly of the distressed assets or otherwise.

stock chartPNC Financial Services (NYSE:PNC) reports third quarter results on Oct 16. One of the few banks to have survived the heat in the ongoing turmoil is poised for a strong quarter. The company has managed to keep its dividend commitments. The board of directors declared a quarterly cash dividend of 66 cents per share on the common stock. The dividend is payable Oct. 24, 2008.


stock chartUnited Technologies Corporation (NYSE:UTX) reports third quarter results on Oct 16. The company has just had two widely watched announcements. The management has withdrawn its acquisition offer for Diebold Inc. The second one is the eye popping decision to increase the dividend offering by 20.3% to 38.5 cents for the quarter. While one tells us that the company seems to have sufficient liquidity despite the bearish markets while the withdrawal of the acquisition bid could also be a result of expensive credit markets. The quarterly results should be eagerly watched for the reasons evident in these two aspects.



Disclosure: The author does not own any stocks mentioned in this article.

 

 
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