Earnings Announcements
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CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories. Will Tuesday be another up day? And more housing data is on the way, as earnings season comes to a close.
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Same-store sales dropped at Abercrombie & Fitch in its first quarter. Stacey Widlitz of S.W. Retail Advisors, discusses how to play the stock now. And Sapna Maheshwari of BuzzFeed explains her claim that top execs at the retailer are concerned about its CEO's amount of power within the company.
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ATHENS, Greece-- The National Bank of Greece has reported first-quarter profits of 27 million euros with a strong performance by its Turkish unit, Finansbank, keeping the group profitable. NBG, Greece's largest bank, on Friday said Finansbank had earned 155 million euros in the first three months of 2013, a 23 percent increase from that quarter in 2012..
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Titan Machinery Inc. shares fell Friday after the agricultural and construction equipment seller said that it expects to post disappointing first-quarter results and lowered its full-year earnings forecast. Titan now expects to post a loss of 1 to 3 cents per share for the quarter on revenue of $440 million.
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Shares of Pandora are up after the company reported earnings, reports CNBC's Seema Mody. And there are reports a deal between Valeant Pharmaceuticals and Bausch & Lomb could be completed as early as next week.
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NEW YORK-- Shares of Nordson Corp. fell Friday after the adhesives and industrial coatings maker posted fiscal second-quarter results that met Wall Street predictions, but issued a disappointing outlook for the current quarter. THE SPARK: For the quarter ended April 30, Nordson's profit rose 5 percent to $54.6 million, or 84 cents per share.
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NEW YORK-- Shares of Aeropostale Inc. fell on Friday, a day after the teen apparel retailer reported a first-quarter loss and offered second-quarter guidance that disappointed investors. THE SPARK: Aeropostale Inc. reported a loss of $12.2 million, or 16 cents per share, during the quarter.
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NEW YORK-- Shares of Shoe Carnival Inc. rose to an all-time high Friday after the footwear retailer managed to beat Wall Street predictions for fiscal first-quarter earnings, despite a 14 percent drop year over year.
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May 24- Abercrombie& Fitch Co on Friday reported a steeper-than-expected drop in first-quarter comparable sales, blaming inventory shortages, and slashed its profit forecast, sending the teen clothing retailer's shares down 10 percent.
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WASHINGTON, May 24- Federal Reserve profits paid over to the U.S. The Fed transferred $15.3 billion in the first quarter versus $23.8 billion in the same period in 2012, reflecting a decline in earnings from both interest and non-interest income.
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NEW YORK-- Shares of Pandora Media Inc. rose on Friday after the Internet radio company reported better-than-expected first-quarter revenue, helped by more paying subscribers. Google Inc. launched a paid subscription plan called All Access last week, and Apple Inc. is expected to unveil a free radio streaming plan later this year.
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Gap falls despite better-than=expected earnings, with Roxanne Meyer, UBS, and John Morris, BMO Capital Markets.
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NEW YORK-- Shares of Infoblox rose to their highest level on Friday since going public a little more than a year ago. THE SPARK: Infoblox Inc., which makes technology for data centers, reported on Wednesday that it lost 1 cent per share for the three months ended April 30. For the full year, Infoblox foresees revenue between $220 million and $221 million.
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NEW YORK-- Abercrombie& Fitch became the latest retailer to release a disappointing outlook and shares tumbled 10 percent in early trading Friday after the company posted first-quarter earnings. For the period ended May 4, Abercrombie& Fitch Co. lost $7.2 million, or 9 cents per share.
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NEW YORK-- Think of Sears like a Jenga game, an analyst said Friday, with a few too many blocks pulled out and the entire structure on the brink of collapse. The analogy came after Sears Holding Cos., which operates Sears and Kmart stores, reported a bigger-than-expected loss for its first quarter on slumping sales.
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The news of AG Lafley returning to the C-Suite at Procter & Gamble is one of the big stories we're covering this morning. Jeffrey Sonnenfeld, Yale School of Management, weighs in.
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HONG KONG, May 24- Hong Kong shares are set to open flat on Friday, with PC maker Lenovo Group Ltd up 4 percent to be the top percentage gainer among Hang Seng Index components, extending gains after it reported a forecast-beating quarterly profit. The Hang Seng Index was set to open flat at 22,679.36.
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WEST FARGO, N.D.-- Titan Machinery Inc., an agricultural and construction equipment seller, said Thursday that it expects to post a loss for its fiscal first quarter on weaker revenue. Titan said it expects revenue of $440 million for the quarter, about $50 million less than it had anticipated.
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May 23- Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower.
