MGM Resorts International’s (MGM) third quarter 2012 adjusted loss of 23 cents per share deteriorated from the Zacks Consensus Estimate of a loss of 16 cents per share. Loss per share was also wider than the prior-year quarter’s loss of 14 cents per share. However, on GAAP basis, MGM Resorts posted net loss of 37 [...]

We are upgrading our long-term recommendation on DTE Energy Company (DTE) to Outperform after a resounding bottom-line beat in the third quarter, which fully offset the effects of a lower top-line. The bottom-line was helped by significant demand for electricity due to warmer weather and higher numbers from its storage and transportation business. Our bullish [...]

Quantum Corp. (QTM) reported second quarter fiscal 2013 adjusted loss per share of 3 cents, which is slightly better than the Zacks Consensus Estimate of loss of 4 cents a share. The adjusted or non-GAAP earnings per share exclude amortization of acquisition-related intangible assets, but include stock-based compensation expense. Revenue Total revenue for the second [...]

Schnitzer Steel Industries Inc. (SCHN) posted fourth-quarter fiscal 2012 (ended August 31) adjusted earnings per share of 10 cents, outstripping the Zacks Consensus Estimate of a loss of a penny per share. The adjusted earnings exclude a restructuring charge of $5 million (or 12 cents a share). Including that impact, the Oregon-based company posted a [...]

Buoyed by a continued robust operating performance and favorable growth prospects, we are maintaining our Outperform recommendation on Sunoco Logistics Partners (SXL). Recent results have been driven by strength in its crude pipeline system and terminals facilities. Importantly, the partnership has grown its cash distribution for 29 consecutive quarters. With its stable fee-based revenue, geographically-diverse [...]

American Capital Ltd. (ACAS) reported third quarter 2012 operating income of 22 cents per share, lagging the Zacks Consensus Estimate by a penny. However, the results compared favorably with the prior-year quarter’s earnings of 19 cents per share. The favorable outcome was attributable to top-line growth, followed by decreased operating expenses reflecting better expense management. [...]

Plum Creek Timber Co. Inc. (PCL), a real estate investment trust (REIT) owning and managing timberlands in the U.S., reported earnings of $59 million or 36 cents per share in the third quarter of 2012, compared with $50 million or 31 cents in the year-earlier quarter. The year-over-year increase in earnings was primarily due to [...]

We are maintaining our Outperform recommendation on Marathon Petroleum Corp. (MPC). Spun out of parent Marathon Oil Co. in 2011, the company is a leading refiner and marketer of petroleum products in the U.S. Our bullish investment theme stems from Marathon Petroleum's scale advantage, impressive asset quality, and an extensive midstream/retail network that diversifies its [...]

Lexmark International Inc. (LXK) has posted third quarter 2012 earnings per share (EPS) of 94 cents, outshining the Zacks Consensus Estimate of 78 cents and the company’s guidance range of 75–85 cents. Revenue Lexmark’s third quarter revenue of $919.2 million dropped 11.2% from $1.03 billion in the year-ago quarter and was lower than the Zacks [...]

Earnings momentum for Washington Trust Bancorp Inc. (WASH) has increased since this major regional bank posted impressive third quarter results last week, which included a 17.0% year-over-year jump in earnings. Furthermore, this Zacks #2 Rank (Buy) pays a regular quarterly dividend that yields a solid 3.6%. Impressive Third Quarter Earnings On October 22, Washington Trust [...]