Late Thursday, RIM /quotes/zigman/18534/quotes/nls/rimm RIMM -19.26% /quotes/zigman/18555 CA:RIM -0.31% issued a third-quarter forecast as the BlackBerry maker reported financial results for the second quarter ended Aug. 27. For the third quarter, the company expects to generate earnings of $1.20 to $1.40 a share along with revenue of $5.3 billion to $5.6 billion. The consensus of analysts who follow RIM stood at $1.36 a share and $5.27 billion, respectively. Profit for the August quarter plunged to $329 million, or 63 cents a share, from $797 million, or $1.46 a share, a year earlier, as revenue declined 10% to $4.17 billion. The company said second-quarter adjusted earnings were 80 cents a share. Analysts had been looking for earnings of 87 cents a share on revenue of $4.47 billion, according to estimates compiled by Thomson Reuters. Read more on the latest results and update for Research In Motion.
Cooper Industries /quotes/zigman/566953/quotes/nls/cbe CBE +0.96% revised lower its third-quarter and full-year financial forecast, citing in part cost pressures and production shortfalls as well as “sales softness” in its residential and commercial-facing businesses. As revised, the company pegged third-quarter earnings in a range of 94 cents to 98 cents a share, with sales growth from the prior year projected at 9% to 12%, and said it anticipates 2011 earnings from continuing operations in a range of $3.75 to $3.82 a share. Cooper picked up the pace of stock repurchases, buying back more than 6.5 million shares in the third quarter to put its year-to-date total at about 7 million. “Our preliminary outlook for 2012 is for mid-single-digit core revenue growth and double-digit earnings-per-share growth,” said Kirk Hachigian, Cooper’s chairman and chief executive, in a statement.
Amerigroup /quotes/zigman/265070/quotes/nls/agp AGP +2.88% said continuing upward pressure on medical costs prompted the Medicaid insurer to raise its forecast for the ratio of premium revenue spent on patient care. In a Securities and Exchange Commission filing late Thursday, the Virginia Beach, Va.-based company revised the projected range for its 2011 health benefits ratio to 83.9% to 84.9%, up from 83.1% to 84.1% previously. Amerigroup cited paid claims data through Aug. 31.
Texas Instruments Inc. /quotes/zigman/243223/quotes/nls/txn TXN +1.61% said it will raise its quarterly dividend on common stock by 31%, to 17 cents a share from 13 cents. The new dividend will be payable Nov. 21 to shareholders of record as of Oct. 31, the company said. It marks the eighth consecutive year that Dallas-based TI has increased its cash dividend.
Craig Dubow will take a leave of absence as chairman and CEO of Gannett Co. /quotes/zigman/227199/quotes/nls/gci GCI +1.00% , the media company said late Thursday. Dubrow previously took such a leave because of medical problems with his back in 2009.
Along with reporting results for the fourth quarter ended July 31, Diamond Foods Inc. /quotes/zigman/96355/quotes/nls/dmnd DMND +5.07% raised its forecast for fiscal 2012. For the current year, the San Francisco-based company now sees adjusted earnings in a range of $3.05 to $3.15 a share, up from $3 to $3.10 a share previously. The revised forecast assumes the company’s Pringles transaction closes in the first half of December. Diamond Foods also projected full-year net sales of between $1.85 billion and $1.95 billion and pegged capital expenditures at $75 million to $85 million. Transaction and integration costs associated with the Pringles transaction are forecast at $150 million over the next two years.
A Maine-based subsidiary of General Dynamics Corp. /quotes/zigman/227407/quotes/nls/gd GD +2.27% has won a $1.8 billion contract to undertake the construction of a pair of Zumwalt-class destroyers for the U.S. Navy. General Dynamics Bath Iron Works is scheduled to deliver the destroyers in December 2015 and February 2018, the company said. The first ship in the class is more than 50% complete and is scheduled to be delivered in 2014.
Sauer-Danfoss Inc. /quotes/zigman/240380/quotes/nls/shs SHS +1.44% plans to invest more than $100 million in factories, office facilities and new products for China over the next four years, the company said as it marked the opening of its new sales office in Shanghai on Thursday. The Ames, Iowa-based company expects sales to the Asia-Pacific region to reach $900 million in 2015, according to Sven Ruder, president and chief executive
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