Earnings Recap (BHI, MCD, PBR, BPOP, SHAW)
Baker Hughes Incorporated(NYSE:BHI) moved down 3.43% to $45.48after the Company announced third quarter results.The adjusted net income was $322 million or $0.73 per diluted share compared to adjusted net income of $1.18 per diluted share in the third quarter of 2011.Net income was $279 million or $0.63 per diluted share compared to $1.61 per diluted share in the third quarter of 2011.Revenue increased 3% to $5.23 billion.
McDonald’s Corporation(NYSE:MCD) slipped 3.33% to $89.79 on a traded volume of 1.86 million shares after the Company released third quarter results.Global comparable sales increased 1.9%. Consolidated revenues were $7.2 billion in the third quarter. Consolidated operating income declined 4% to $2.3 billion. The diluted earnings per share were $1.43 in the third quarter. The U.S. posted a comparable sales increase of 1.2% for the third quarter amid broad competitive activity.
Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR)went down 0.70% to $22.84.The Company has signed a loan agreement for $1 billion with the Japan Bank for International Cooperation on October 15, 2012. The loanwill be used to increase energy efficiency at some of its operations. JBIC will provide $600 million of the loan and $400 million will come from Bank of Tokyo-Mitsubishi UFJ Ltd. Petrobras did not disclose details on interest rates, maturity or other terms of the loan.
Popular Inc(NASDAQ:BPOP) went down 1.14% to $19.06. The Company posted third quarternet income of $47.2 million compared to net income of $65.7 million in the prior year period.Net interest margin increased 4 basis points to 4.37% as compared to the second quarter of 2012.The Company restated that the net income to be between $210 million and $225 million for 2012.
The Shaw Group Inc (NYSE:SHAW) decreased 1.69% to $43.61. The Company reported fourth quarter profit per share of $1.68 compared to loss of $1.25 per sharein the previous year period. Net income was $113.19 million compared to loss of $90.26 million in the prior year period. Revenues decreased to $1.45 billion compared to $1.48 billion last year.However, analysts expected the Company to report profit per share of $1.36 on revenue of $1.44 billion for the quarter. The Company expects revenue in the range of approximately $5.0 billion-$5.5 billionfor fiscal 2013.The Company expects earnings per share to be in the range of $1.70-$1.90 for 2013. However, analysts expect the company to report fiscal 2013 profit per share of $2.56 on revenue of $6.04 billion.