For Immediate Release
Chicago, IL – February 4, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Time Warner Inc. (TWX), AOL (AOL), Time Warner Cable (TWC), News Corporation (NWS) and Pfizer Inc. (PFE).
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Here are highlights from Wednesday’s Analyst Blog:
Time Warner Tops Zacks Estimate
Time Warner Inc. (TWX) reported better-than-expected fourth-quarter 2009 results that topped the Zacks Consensus Estimate, on the heels of record profits at its Studio and Networks segments.
The quarterly earnings of 55 cents a share surpassed the Zacks Consensus Estimate of 52 cents. In the prior-year quarter, the company had reported earnings of 19 cents a share. On a reported basis, including one-time items, quarterly earnings came in at 53 cents a share compared to a loss of $13.41 posted in the year-ago quarter.
Time Warner, which spun off AOL (AOL) and Time Warner Cable (TWC), has raised its business outlook. The company now expects fiscal year 2010 earnings to rise in the mid-teens on a percentage basis. On the back of stronger-than-expected results, management also boosted its quarterly dividend by 13.3% to 21.25 cents a share and increased the share repurchase authorization to $3 billion.
Another major media conglomerate, News Corporation (NWS), raised its quarterly dividend by 25% to 7.5 cents a share.
Pfizer In-Line, Guidance Down
Pfizer Inc. (PFE) reported fourth quarter earnings of 49 cents per share, in-line with the Zacks Consensus Estimate and 25% below the year-ago earnings of 65 cents. Full year earnings came in at $2.02, a cent above the Zacks Consensus Estimate, but 17% below the year-ago earnings of $2.42.
Although the company reported higher revenues, results were negatively impacted by increased expenses, primarily due to the addition of the legacy Wyeth operations and increased investment in high-growth and in-line product opportunities, as well as higher net interest expense and an increase in the effective tax rate on adjusted income.
Revenues for the quarter increased 34% to $16.5 billion. Revenues were favorably impacted by 27% due to the Wyeth acquisition (completed in mid-October 2009). Legacy Pfizer products and foreign exchange boosted revenue growth by 3% and 4%, respectively. International revenues increased 28% to $9.1 billion, reflecting 21% operational growth and a 7% favorable foreign exchange impact.
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