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Earnings Scan: AES, EIX, FELE, KCP, TREX

 February 28, 2011 10:38 AM

US stocks moved up Monday morning as oil prices stabilized after shipments from Libya restarted and corporations announced another round of M&As, primarily news about Ventas Inc. (NYSE: VTR) acquiring Nationwide Health Properties Inc. (NYSE: NHP) for $7.4 billion.. The Dow Jones Industrial Average was trading higher by 69.02 points, or 0.57 percent at 12,199.47, while Nasdaq gained 0.48 percent to 2,794.33. The S&P 500 marginally gained 0.52 percent to 1,326.77 on Monday.

The AES Corporation (NYSE: AES) reported fourth quarter results, driven by higher volumes in its Latin America generation segment and contributions from its Ballylumford plant in Northern Ireland. The company reported fourth quarter revenues of $4.4 billion, up 16 percent from $3.8 billion in the same quarter last year. Diluted EPS for the quarter decreased $0.63 per share to a loss of $0.56 per share, including loss of $0.76 per share impairments of long-term assets. AES is trading at $12.44, up 1.47 percent.Edison International (NYSE: EIX) today reported fourth quarter 2010 basic earnings of $0.51 per share, compared to $0.65 per share in the same quarter last year. Fourth quarter 2010 core earnings were $0.58 per share, compared to core earnings of $0.59 per share in the fourth quarter of 2009. Edison International parent company and other reported a fourth quarter 2010 loss of $0.08 per share compared to $0.05 per share loss in the fourth quarter of 2009 due to higher income tax expense. Wall Street analysts expected Edison International to earn 60 cents a share in the latest quarter. For 2011, Edison International expects earnings of $2.60 to $2.90 a share, compared to the Wall Street target of $2.98 a share. Edison's stock lost 1.22 percent to $35.57 on Monday morning.

[Related -Analysts' Upgrades And Downgrades: GRPN, GSK, JOY, RVBD, SHPG, LAMR, EIX, BSFT]

[Related -Dividend Roundup: AES, BSRR, COKE, NRG, TNP]

Franklin Electric Co.  Inc. (Nasdaq: FELE) reported fourth quarter 2010 diluted earnings per share of $0.36, an increase of 9 percent compared to 2009 fourth quarter diluted earnings per share of $0.33. For the quarter sales were $175 million, an increase of 21 percent compared to $144.9 million in the same quarter last year. FELE had lost 1.73 percent to $42 in the morning session of trade Monday.

Kenneth Cole Productions Inc. (NYSE: KCP) reported financial results for the fourth quarter and full year 2010 on Monday. The company reported $457.3 million full year revenue, an increase of 11.4 percent year-over-year.  Earnings for the full year increased to $2.1 million, or $0.11 per diluted share, compared to a loss of $63.2 million, or $(3.52) per diluted share in fiscal 2009. For the fourth quarter, company's revenue increased by 10.5 percent to $120.8 million. The net loss for the quarter was $(0.15) per share compared to net loss of $(2.88) per share in the same quarter last year. KCP had lost 10.52 percent to $12.51, Monday morning.

Trex Company Inc. (NYSE: TREX) reported fourth quarter results, with record sales of $75.3 million compared to $51.2 million for the same quarter last year. Its net income for the quarter was $3.6 million, or $0.23 per diluted share, compared to net loss of $5.4 million, or $(0.36) per diluted share in the fourth quarter of 2009. For the full year, Trex reported a net loss of $0.5 million, or $(0.03) per diluted share, compared to a net loss of $0.3 million, or $(0.02) per diluted share for the 2009 period. TREX was trading up by 6.45 percent to $28.39 on Monday morning.

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