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Earnings Recap

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  • Bank of America (BAC) reported Q4 EPS at $0.98 vs $0.94 cons on revenues of $13.92 bln vs $13.39 bln cons. The company increased its allowance for credit losses to $706 mln from $650 mln in Q3.

  • 3M (MMM) reported Q4 EPS of $0.91 (in line) on revs of $5.1 bln vs $5.02 bln. The company guided Q1 EPS to $1.00-1.02 vs $1.00 consensus.

  • Amsouth Bancorp (ASO) reported Q4 EPS of $0.49 vs. (in-line). ROA came in at 1.42% and ROE was 20.2%. The company sees '05 EPS of $2.00-2.06 vs. $2.02 cons.

  • Charles Schwab (SCH) reported Q4 EPS of $0.12 vs $0.11 cons on revs of $1.06 bln (in-line) Net new assets were $16.8 bln with year-end assets of $1.081T with 56k new accounts opened in Dec.

  • Fifth Third Bancorp (FITB) reported Q4 EPS of $0.31 vs $0.29 cons. ROA came in at 0.72% while ROE was 7.6%.

  • National City (NCC) reported Q4 EPS of $).72 vs $0.65 cons. ROA came in at 2.77% while ROE was 29.7%. The company said it plans to continue buybacks in '05.

  • State Street (STT) reported Q4 EPS of $0.60 vs. $0.58 cons on revs of $1.27 bln vs. $1.22 bln cons. Q4 ROE on an operating basis was 12.4%. The company guided '05 EPS to the lower end of $2.72-2.84 vs $2.75 cons and revs to the lower end of $5.35-5.54 bln vs $5.27 bln cons. They see '05 operating ROE at low end of 14-17% range.

  • US Bancorp (USB) reported Q4 EPS of $0.56 vs $0.57 cons. ROA was 2.16% while ROE came in at 21.2%.

  • Wells Fargo (WFC) reported Q4 EPS of $1.06 (in-line) on revs of $8.17 bln vs $7.53 bln cons.

  • Ameritrade Holding (AMTD) reported Q1 EPS of $0.22 vs $0.19 cons on revs of $262 mln vs $248.52 mln cons. The company guided '05 EPS to $0.77-0.90 vs $0.74 cons.

  • Freeport McMoran Copper & Gold (FCX) reported Q4 EPS of $0.79 vs $0.69 cons on revs of $924.79 mln vs $910 mln cons. The company sees 1.5 bln lbs of copper sales and in '05 and 1.5 bln oz. of gold in '05 and says it expects excellent operational results in '05.

  • Forest Labs (FRX) reported Q3 EPS of 0.70 vs $0.68 cons on revs of $795.05 vs $770.8 mln cons.

  • JDS Uniphase (JDSU) reported Q2 EPS of ($0.02) vs ($0.01) cons on revs of $180 mln vs $187.2 mln cons. The company cited an unanticipated decline in revs from a major customer for customer optics and display products, reducing revs by $13 mln.

No positions in stocks mentioned.

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