Sept 17- Lennar Corp, the second largest U.S. homebuilder, reported a better-than-expected 47 percent jump in quarterly profit as it sold more homes at higher prices, and its shares rose as much as 6 percent in premarket trading.
Sept 17- Steelmaker Nucor Corp said it expects higher third-quarter profit, citing a rise in profitability from some steel products. The company forecast third-quarter profit of 70- 75 cents per share. It posted a profit of 46 cents per share for the third quarter last year.
CNBC's Jim Cramer breaks down the quarterly numbers for FedEx. Cramer says FedEx has a beautiful quarter and it's what investors want to see.
Sept 17- General Mills Inc reported lower-than-expected quarterly profit and revenue as the maker of Cheerios cereal and Betty Crocker cake mixes lost further ground to cheaper store-branded foods amid rising demand for alternative breakfast options.
MIAMI— Lennar Corp. on Wednesday reported fiscal third-quarter net income of $177.8 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share. Analysts expected $1.94 billion, according to Zacks.
Sept 17- FedEx Corp reported a better-than-expected 24 percent jump in quarterly profit as the world's No. 2 package delivery company benefited from higher shipment volume. The company's net income rose to $606 million, or $2. l0 per share, in the first quarter ended Aug. 31, from $489 million, or $1.53 per share, a year earlier.
Donald Broughton, Avondale Partners, breaks down the shipping company's fiscal first quarter results which beat on both the top and bottom line.
Investors must feeling frustrated after Sony issued another profit warning in he face of smartphone competition from Apple and Samsung.
DALLAS— Growth in online shopping is boosting profit at FedEx, and the company plans to hire more than 50,000 extra workers to handle what is shaping up as another record year for holiday-season package deliveries. The hiring plan from FedEx Corp. came a day after rival UPS said it would hire up to 95,000 seasonal workers.
Sept 17- FedEx Corp reported a 24 percent rise in quarterly profit as the world's No. 2 package delivery company benefited from higher volumes in both its express and ground businesses. Net income rose to $606 million, or $2. l0 per share, in the first quarter ended Aug. 31 from $489 million, or $1.53 per share, a year earlier. Revenue increased 6 percent to $11.7 billion.
Some of the names on the move ahead of the open.
MINNEAPOLIS— General Mills, the food company behind Cheerios cereal and Yoplait yogurt, reported disappointing fiscal first-quarter results Wednesday and announced plans to cut costs further to fight falling sales. The Minneapolis company said it is reviewing its manufacturing and distribution network.
Sept 17- General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, reported a 25 percent fall in quarterly profit as sales fell for the fourth straight quarter and merchandising costs rose. The company's net income fell to $345.2 million, or 55 cents per share in the quarter ended Aug. 24, from $459.3 million, or 70 cents per share, a year earlier.
Sept 17- Lennar Corp, the second largest U.S. homebuilder, reported a higher-than-expected quarterly profit as it sold more homes at higher prices, and its shares rose about 6 percent in premarket trading.
MADRID— Spanish fashion retailer Inditex, which owns Zara stores, says net profit fell by 2.4 percent in the first half of 2014 despite robust sales, mainly due to the impact of a strong euro. The company said Wednesday that profit for February to July was 928 million euros compared with 951 million euros for the same period in 2013..
Philip Bowman, CEO of Smiths Group, says the company is not looking to sell its struggling medical business.
SAN JOSE, Calif.— Shares of Adobe Systems Inc. declined in after-hours trading Tuesday after the software maker posted third-quarter revenue below Wall Street's expectations. The San Jose, California- based company known for Photoshop, Illustrator and Acrobat posted earnings of $44.7 million, or 9 cents per share, in the three months that ended on Aug. 31.
Sept 16- Photoshop maker Adobe Systems Inc reported a mere 1 percent rise in quarterly revenue that missed analysts' expectations, pushing shares down about 3.6 percent in extended trading on Tuesday. Net income fell to $44.7 million, or 9 cents per share, for the quarter ended Aug. 29, from $83 million, or 16 cents per share, a year earlier.
Adobe is reporting Q3 EPS of $0.28 ex-items on revenue of $1.01 billion, with CNBC's Josh Lipton.
RUSSIAN CENTRAL BANK EXPECTS NET CAPITAL OUTFLOW OF $20 BLN IN H2, $90 BLN IN WHOLE OF 2014, SEES RISKS OF MORE CAPITAL FLIGHT, WEAKER ROUBLE- DOCUMENT.