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U.S. Morning Call: Costco beats profit expectations

Tuesday, March 12, 2013 - 03:47

Mar 12 - Costco posts a 39 percent increase in quarterly profit on higher sales and membership fees.

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Good morning offered Tuesday Costello with some oversized results this morning. The wholesale retailer posted 839%. Increase in quarterly profit. Can -- beating expectations. The bulky earnings result of increase in sales membership fees and it's tax benefit related to a special cash dividend. Whisper number dot com says Costco has crushed the unofficial estimate in eleven quarters and -- the stock has risen an average of one and a half percent in the month following such would be. Shares this morning however trading slightly lower in premarket. Later today we'll get an update from hospital rival Wal-Mart CFO Charles -- expected to discuss the retailer's financial priorities. And BofA -- 2013 consumer and retail conference. Wal-Mart recently reported better than expected profits and raise its dividend by 18%. Also out later this morning weekly chain store sales and redbook retail sales index. Stock futures point to a mixed open this morning the Dow closing at another record high giving the F and 500 its seventh straight advanced as early weakness entice buyers. Today could be -- repeat. -- The former vice presidential candidates as he can balance the federal budget in ten years without raising taxes any further. The trade off. Four point six trillion in additional government spending cuts. Ryan said his budget will again seek to turn control and funding for Medicaid health care over to individual states. And house we -- is at least for some New Yorkers today. A judge overturned the ban on large sugary drinks just before conception. Calling it quote arbitrary and capricious. At a press conference New York City mayor Michael Bloomberg said the judge's ruling was quote totally -- And about to appeal. Boeing saying the plane makers -- Errors and senior executives saying he's confident the proposed changes to the seven -- seven dreamliner will provide a permanent solution to battery problems that grounded newest jet and -- -- could be getting a step in the Irish independent newspaper reported Ryan -- -- planning to announce a deal to -- 200 aircraft from Boeing. In the coming days. Based on a mixed bag of industry indicators behind the -- continued strength in aircraft market despite economic uncertainty and its batteries. Shares -- -- and finished up roughly 2% at yesterday's close. Some stocks to watch AT&T begins priest L of the new Blackberry today and the stock is still on a terror. Blackberry shares rose 14% yesterday on news AT&T will start selling magazine and touch screen Smartphone in the US. But that's not all. There's also speculation and China's Lenovo is -- acquisition of Canada's Blackberry at some point in the future. Shares this morning -- almost 3% in the premarket. Yum! Brands also want to move up in the premarket after it reported unexpected 2% rise in February sales at established restaurants in China. Boosted by the Chinese -- and easing worries about food safety scare and keep an eye and Verifone the maker of credit cards like machines. Its chief executive Douglas Bergeron will step down after more than a decade at the Helm. The departure comes just weeks after the company's -- profit outlook prompted several analysts to question the company's management. That's your Tuesday morning off follow us on Twitter at Reuters Insider check out Margaret media at Reuters dot com slash writers TV. I'm Lisa Bernhard. Is.

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U.S. Morning Call: Costco beats profit expectations

Tuesday, March 12, 2013 - 03:47