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Abercrombie Misses On Second Quarter Earnings

Abercrombie & Fitch’s fiscal second-quarter earnings fell short of analysts’ expectations. The company posted a wider-than-expected loss of 25 cents a share during the period. Analysts projected a loss of 20 cents, on average. Abercrombie’s net loss increased to $13.1 million from $810,000 in the year-ago quarter. A same-store sales decline of 4 percent was steeper than the projected 3.8 percent expected by analysts. Comparable sales at Abercrombie fell 7 percent in the quarter, while those at Hollister dropped 2 percent. Net sales fell... 
 

Estee Lauder Misses Estimates In Current Quarter

New York City-based Estee Lauder Cos Inc. (NYSE:EL) reported a smaller-than-expected rise in quarterly sales than analysts expected for the current quarter. Sales in the current quarter are expected to be in the range of $2.86 billion-$2.89 billion, less than the average analyst estimate of $2.94 billion. MAC, Bobbi Brown and Smashbox, which it acquired in 2010, all reported double digit sales growth. Net income fell to $93.5 million, or 25 cents per share, in the quarter. On an adjusted basis, the company earned 43 cents per share. Total revenue... 
 

Target’s Sales Figures May Indicate Financial Trouble Ahead

Target’s (NYSE:TGT) sales and financial performance have slipped in recent months. Target reported that its second-quarter earnings fell 9.7 percent to $680 million. Adjusted earnings per share totaled $1.23, topping Wall Street’s expectations by 11 cents a share. The retailer said it earned $16.17 billion in revenue in the fiscal second quarter. Analysts had expected Target to report $16.18 billion in revenue. In last year’s second quarter, Target earned $1.22 a share on sales of $17.43 billion. Sales fell 7.2 percent to $16.2... 
 

Coca-Cola Beats On Income, Misses On Revenue

The Coca-Cola Co. (NYSE:KO) beat analysts’ estimates for net income in the second quarter when it posted earnings on Wednesday. The company reported that net income rose to $3.45 billion, or 79 cents a share, for the quarter. That compared with earnings of $3.11 billion, or 71 cents a share, in the year-ago period. Excluding certain one time items, Coke said it earned 60 cents a share, beating analysts’ estimates of 58 cents a share, according to Thomson Reuters. Coke has surpassed Wall Street’s expectations for six straight quarters... 
 

Union Pacific Second Quarter Results In Line With Expectations

Union Pacific Corp. (NYSE:UNP) announced during its earnings call that its second-quarter profit fell, but remained in line with Wall Street’s expectations. The company reported net income of $979 million, or $1.17 per share, down from $1.2 billion, or $1.38 per share, a year ago. Analysts polled by Zacks Investment Research predicted earnings of $1.17 per share on average. The railroad’s revenue declined 12 percent year-over-year to $4.77 billion, slightly lower than the $4.79 billion expected by analysts. The railroad reported that it... 
 

Wells Fargo Second Quarter Results Meet Expectations

Wells Fargo reported earnings results for the second quarter that were roughly in line with analysts’ expectations. The San Francisco-based bank reported a profit of $5.56 billion, or $1.01 a share, lower than the $5.72 billion, or $1.03 a share, reported in the same period of 2015. Revenue was $22.16 billion. Both were in line with analysts’ expectations. During the first quarter, the bank’s return on equity reached 11.7 percent, the lowest ROE for the bank since the fourth quarter of 2010. This was down from 11.75 percent last quarter and... 
 
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