August 2010 Penny Stocks Picks

SINA Corp. (SINA) said its second quarter non-GAAP earnings rose 62% to $27.7 million

or 42 cents per share, as revenues rose 10% to $99.4 million. The consensus estimates called for earnings of 35 cents per share on revenues of $92.57 million. For the third quarter, the company estimates net revenues of $101 million to $104 million, while analysts estimate revenues of $100.80 million.

News Corp. (NWS) reversed to a fourth quarter profit of 33 cents per share from a loss of 8 cents per share last year. Revenues climbed to $8.11 billion from the year-ago's $7.67 billion.

Murphy Oil (MUR) reported second quarter net income of $1.41 per share, higher than 83 cents per share last year. The year-ago results included items that had a net negative impact of about 7 cents per share. Revenues climbed to $5.59 billion from $4.56 billion last year. The consensus estimates called for earnings of $1.21 per share on revenues of $6.36 billion. The company also announced a 10% increase in its quarterly dividend.

Prudential Financial (PRU) reported second quarter after-tax adjusted operating income of $1.51 per share, lower than $1.87 per share last year. Analysts estimated earnings of $1.32 per share.

Meanwhile, Hartford Financial (HIG) reversed to a second quarter profit of 17 cents per share on a core basis from a loss of $1.90 per share last year. The company's adjusted core earnings were 92 cents per share, ahead of the consensus estimate of 71 cents per share. The company lowered its full year core earnings guidance to $2.10-$2.30 per share from $2.70-$3 per share, while analysts estimate earnings of $2.71 per share.

Allstate (ALL) said its second quarter operating income rose to 81 cents per share from 55 cents per share last year. However, revenues fell 9.8% to $7.66 billion. The results were ahead of expectations.

Con-way (CNW) reported that its second quarter net income declined to 26 cents per share from 64 cents per share last year despite revenues rising 23.7% to $1.31 billion. While earnings trailed the consensus estimate of 30 cents per share, revenues were ahead of $1.26 billion consensus estimate.

Other Corporate News

Among retailers, Fred's (FRED) reported a 2.7% increase in its same store sales for July, rebounding the 4.6% drop in the previous month. Teen apparel retailer Hot Topic (HOTT) said its same store sales dipped 9% in July. The company also lowered its second quarter loss estimate to 14 cents per share, while analysts estimate a loss of 10 cents per share.

AMR Corp. (AMR) could see some activity after its American Airlines unit said its load factor fell 0.3 points in July to 87%. The decline came despite a 2.7% increase in traffic and a 3.1% improvement in capacity. AMR's regional carrier American Eagle reported a 1.7 point decline in load factor to 76.1%.

August 2010 Penny Stocks Picks

By: Walid

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