Company News for August 4, 2009

• Toyota (NYSE:TM) reported a June quarter loss of $819 million, reflecting sluggish US sales and a stronger yen, which offset cost-cutting measures and inventory decreases; however, the firm cut its loss forecast on the year by about 18% to $4.7 billion

• Xstrata, the world's fifth largest diversified mining group, reported a 77% fall in six month results to 38 cents a share adjusted from $1.66, although above estimates of 33.6 cents

• UBS (NYSE:UBS) reported a higher-than-expected second quarter loss of $1.32 billion, which was less than the prior quarter loss. The bank's Tier 1 capital ratio rose to 13.2% at quarter's end from 10.5% at the beginning of the quarter

• Vulcan Metals (NYSE:VMC) reported a second quarter earnings of 14 cents, ex-items, versus estimates of 20 cents a share, as revenues fell 29.3% from a year earlier to $721.9 million, off estimates of $759.1 million. The firm said it expects full-year earnings of 40 cents to 65 cents a share from continuing operations, versus Street estimates of 68 cents

• Emerson Electric (NYSE:EMR) missed by one penny, as fiscal third quarter numbers posted at 56 cents ex-items on a 22.5% y/y revenue drop to $5.09 billion, off consensus estimates of $5.34 billion. The firm, however, issued in-line fiscal 2009 guidance of $2.20 to $2.30 a share, versus Street projections of $2.28
 
• Progress Energy (NYSE:PGN) reported second quarter earnings of 64 cents a share, 5 cents below expectations, on in-line revenues of $2.3 billion

• Tenet Healthcare (NYSE:THC0 reported a loss of three cents a share, a 2 penny miss, on inline revenues of $2.2 billion

• Duke Energy (NYSE:DUK) reported second quarter earnings of 26 cents a share, one cent better than estimated, on revenues of $2.9 billion versus $3.2 billion a year ago

• DR Horton (NYSE:DHI) reported fiscal third quarter loss of 45 cents a share, a 22 cent miss, on revenues of $922.5 million versus $792 million

• CVS Caremark (NYSE:CVS) reported second quarter earnings of 65 cents a share, one penny above estimates, on revenues of $24.9 billion that beat estimates of $24.4 billion. The firm raised its full-year earnings guidance to $2.59 to $2.64 a share from its earlier view of $2.55 to $2.63 a share

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