Cytec Industries (NYSE:CYT) announced net earnings for the second quarter of $61.8 million or $1.24 per diluted share on net sales of $874 million versus net loss for the second quarter of 2009 of $24.8 million or $0.52 per diluted share on net sales of $685 million.
The company now expects to achieve 2010 revenues of $3.2 to $3.4 billion versus their prior projection of $2.7 to $3.0 billion, and as adjusted 2010 diluted earnings per share in a range between $3.20 to $3.50, up from their prior as adjusted forecast of $1.90 to $2.40 per diluted share.
The company declared a quarterly cash dividend of $0.0125 per share.
Shares of Cytec are up 17.5%.
United Rentals (NYSE:URI) posted total revenue of $557 million and rental revenue of $450 million for the second quarter, compared with $615 million and $454 million, respectively, for the same period last year. Operating income was $59 million, compared with $5 million for the same period last year.
On a GAAP EPS basis, the company reported second quarter 2010 net income of $12 million, or $0.18 per diluted share, compared with a net loss of $17 million, or a loss of $0.28 per diluted share, for the same period in 2009.
Adjusted EPS ex-items was $0.25 per diluted share, compared with a loss of $0.24 per diluted share the prior year.
United Rentals is higher by 13.25%.
Ethan Allen Interiors (NYSE:ETH) declared a regular quarterly cash dividend of $0.05 per share. The company also reported net sales for the quarter ended June 30 of approximately $163 million, an increase of 18% from the same quarter last year. They expect their diluted EPS for the fourth fiscal quarter to be in the range of $0.30 to $0.32 compared to a loss per share of $0.23 in the previous year quarter, excluding restructuring, impairment, and related transition costs in both periods.
Shares of Ethan Allen are up 9.5%.
Morgan Stanley (NYSE:MS) reported income of $1.4 billion, or $0.80 per diluted share for the quarter ended June 30 compared with a loss of $138 million, or $1.36 per diluted share, for the same period a year ago.
Net revenues were $8.0 billion for the current quarter compared with $5.2 billion a year ago.
Morgan Stanley is higher by 7.75%.
Complete Production Services (CPX) reported second quarter revenue of $360.2 million, an increase of 16% over the first quarter of 2010, Adjusted EBITDA of $85.3 million, an increase of 53% over the first quarter of 2010, operating income of $39.9 million and net income of $15.7 million, or $0.20 per diluted share.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.