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McDonald's (MCD)
McDonald's Corporation today announced strong results for the fourth quarter and year ended December 31, 2009, driven by global comparable sales growth.
Fourth quarter highlights included:
- Global comparable sales increase of 2.3%, with all segments reporting positive results.
- Operating income increases in the U.S. 5%, Europe 20% (10% in constant currencies) and Asia/Pacific, Middle East and Africa 51% (28% in constant currencies).
- Earnings per share of $1.11, including an $0.08 per share benefit primarily due to the resolution of certain liabilities retained in connection with the 2007 Latin America developmental license transaction. Currency translation also benefited earnings by $0.07 per share.
- On January 21, McDonald's Board of Directors declared a quarterly cash dividend of $0.55 per share of common stock, payable on March 15, 2010 to shareholders of record at the close of business on March 1, 2010.
"McDonald's 2009 results reflect the broad-based strength of our global business," said McDonald's Chief Executive Officer, Jim Skinner. "Our in-demand food and beverages, unparalleled convenience and superior value at every level of our menu enabled us to serve 60 million customers per day during 2009, up 2 million per day over the prior year. In addition, McDonald's profitability increased as we marked our sixth consecutive year of positive comparable sales in every geographic segment and generated higher global revenues, operating income and earnings per share in constant currencies - all tremendous accomplishments given the tough global economy."
Jan 22 · 11:36:00 AM · Source: Company Press Release
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by Rich Pike
GE (GE)
General Electric's quarterly earnings topped Wall Street expectations, as it kept costs in line despite sluggish demand for jet engines, railroad locomotives and other heavy equipment.
The largest U.S. conglomerate said Friday that fourth-quarter profit attributable to common shareholders fell 19 percent to $2.94 billion, or 28 cents per share, from $3.65 billion, or 35 cents per share, a year earlier.
Chief Executive Jeff Immelt said the company's 2010 financial "framework," which calls for 2010 earnings to be about equal to 2009 results, "quite achievable."
Jan 22 · 7:23:00 AM · Source: CNBC.com
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by Rich Pike
NCR Corp. (NCR)
NCR Corporation today announced it has signed a multimillion dollar deal with Westpac New Zealand to implement the country’s most up-to-date, standards-compliant ATM network and help fulfil the bank’s promise of better service in its branches.
The deal reaffirms the company's worldwide leadership position in ATMs.
Jan 21 · 2:54:00 PM
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by Larry Etter
IBM (IBM)
IBM reported fourth-quarter net income was $4.8 billion, or $3.59 per share, compared with $4.4 billion, or $3.27 per share, in the fourth quarter of 2008, an increase of 9 percent. Total revenues for the fourth quarter of 2009 of $27.2 billion increased 1 percent (down 5 percent, adjusting for currency) from the fourth quarter of 2008.
Revenues beat street expectations.
Jan 21 · 2:24:00 PM · Source: Company Press Release
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by Larry Etter
Frisch's Restaurants (FRS)
Frisch's Restaurants reported higher earnings for its 12-week fiscal second quarter ended December 15, 2009. Net earnings for the quarter increased 6.9% to $2,369,217 compared to $2,215,787 last year. Diluted earnings per share increased to $.46 per share, from $.43 per share last year. Sales declined 1.7% to $67,898,586 from $69,093,061 in last year's second quarter.
Craig F. Maier, President and CEO, said, "Same store sales at our Big Boy Restaurants decreased a modest 0.4% in the second quarter. The sluggish economy and continuing high unemployment have driven down customer traffic in our restaurants."
Jan 20 · 12:42:00 PM · Source: Company Press Release
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by Rich Pike
Burger King Holdings Inc. (BKC)
Credit Suisse downgraded Burger King Holdings Inc. from Outperform to Neutral. Price target was lowered from $23 to $21.
Jan 20 · 12:38:00 PM · Source: Marketwatch.com
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by Rich Pike
Ruby Tuesday (RT)
Ruby Tuesday has established a new partnership with Penske Racing for the 2010 NASCAR Nationwide Series season. Ruby Tuesday will serve as primary sponsor for six races on the No. 22 Dodge driven by series standout Brad Keselowski.
The specific races where Ruby Tuesday will serve as primary sponsor of the car have yet to be determined, but the No. 22 Ruby Tuesday Dodge is expected to make its debut as primary sponsor at the Richmond International Raceway race on April 30. Ruby Tuesday will be an associate sponsor of the team for the remaining 2010 Nationwide Series races.
Jan 20 · 12:26:00 PM · Source: Company Press Release
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by Rich Pike
CKE Restaurants (CKR)
CKE Restaurants, the holding company for Carl's Jr. and Hardee's quick service restaurant brands, said last week Wednesday at a conference of stock analysts and investment bankers that company-owned same store sales were down.
Carl's Jr. restaurants earlier reported an 8.9% drop for December of stores open at least a year, while Hardee's stores were down 3.2%. Year to date same store sales of units opened at least a year fell for Carl's Jr. by 6 percent and Hardee's reporting a 0.7 percent slide.
No information on same store sales of its 3,147 franchises were released.
Andy Puzder, CKE's CEO said "It is not our brand at all. The reality is the market has shrunk," emphasizing that sales of competitors and the quick service sector as a whole have contracted.
Jan 19 · 1:16:00 PM · Source: BlueMauMau.com
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by Rich Pike
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