Desktop PC Sales Surge in HP’s Strong Quarter

HP reported another quarter of double-digit revenue growth in both its personal systems and print businesses, driven in part by strong sales of desktop PCs.For the third quarter, HP’s personal systems revenue rose 12% to $9.39 billion, while print climbed 11% to $5.19 billion in revenue. Within p...

By Matthew Heller • Aug. 24, 2018

IRS Guidance on Exec Comp Changes Falls Short

The Internal Revenue Service on Tuesday issued initial guidance on changes to the deductibility of executive compensation that were included in the Tax Cuts and Jobs ActThose in the executive compensation field had been eagerly awaiting word from the IRS, given that the legislation left many ques...

By David McCann • Aug. 24, 2018

Explore the Trendline➔

Tax policy shifts: What CFOs need to know to stay ahead

Discover how evolving tax policies are creating new opportunities and challenges for CFOs.

By CFO.com staff

Foot Locker Shares Dive on Q2 Sales Miss

Foot Locker’s second-quarter results indicated it is rebounding from a sluggish 2017 but its shares tumbled as same-store sales missed analysts’ estimates.The retailer’s net income rose to $88 million, or $0.75 per share, from $51 million, or $0.39 per share, in the prior year, while total sales ...

By Matthew Heller • Aug. 24, 2018

Honeywell Raises Guidance Ahead of Spinoffs

Honeywell on Thursday raised its full-year guidance for the fourth time, citing the strength of its end markets as it prepares to spin off two businesses.The company said it now expects 2018 adjusted earnings per share of between $8.10 to $8.20, up five cents from its previous forecast.Honeywell ...

By Matthew Heller • Aug. 23, 2018

Digital Sales Power Williams-Sonoma Growth

Williams-Sonoma shares jumped 7% in after-hours trading Wednesday after the retailer reported better-than-expected quarterly earnings, with its e-commerce channel and West Elm brand performing particularly well.For the second quarter, Williams-Sonoma earned 77 cents per share while revenue increa...

By Matthew Heller • Aug. 23, 2018

Kohl’s Beats Estimates With 3.1% Sales Gain

Kohl’s on Tuesday reported a fourth-straight quarterly increase in same-store sales, reflecting in part the positive impact of its efforts to downsize stores and reduce inventory.According to the Milwaukee Journal Sentinel, the retailer has also been benefiting from “the wave of department store ...

By Matthew Heller • Aug. 21, 2018

Trump Suggests Switch to Half-Year Reporting

President Trump suggested on Friday that public companies should file financial reports every six months instead of quarterly but immediately ran into pushback from investors and others.Trump tweeted that after speaking with “some of the world’s top business leaders,” he had asked the U.S. Securi...

By Matthew Heller • Aug. 17, 2018

Nvidia Shares Drop 5% on Lowered Guidance

Chipmaker Nvidia reported strong quarterly earnings across all its markets but the collapse of its cryptocurrency-mining business and lower-than-expected revenue guidance alarmed investors.Nvidia’s shares fell as much as 5% in after-hours trading Thursday even though it earned $1.76 per share in ...

By Matthew Heller • Aug. 17, 2018

Study Supports Scrapping the 10-Q

Friday morning’s news that the Securities and Exchange Commission will consider whether to abandon the requirement that companies file financial reports quarterly comes after years of debate.The SEC will look into emulating the European Union and United Kingdom, which recently stopped requiring q...

By David McCann • Aug. 17, 2018

SEC Charges Citigroup for Internal Controls Failure

Citigroup agreed to an SEC enforcement action on Thursday that charged the bank with inadequate controls that failed to detect “fraudulently-induced” loans made by a Mexican subsidiary. The failure ultimately resulted in $475 million of losses reported by Citigroup.The fraud occurred in an accoun...

By Vincent Ryan • Aug. 16, 2018

J.C. Penney Reports Sizable Net Loss, Slashes Guidance

J.C. Penney reported a net loss of $101 million for the second quarter on total net sales of $2.76 billion, falling short of analysts’ expectations of $2.86 billion.For the same period last year, the company reported a smaller net loss of $48 million and net sales that were 7.5% higher.In conjunc...

By William Sprouse • Aug. 16, 2018

Walmart Shares Jump 9% on ‘Banner’ Quarter

Walmart on Thursday reported its best U.S. same-store sales growth in more than a decade, highlighted by a pickup in online sales and the strength of its grocery business.Analysts said the grocery gains in the second quarter may ease fears that Walmart can compete with the Amazon. Wall Street had...

By Matthew Heller • Aug. 16, 2018

Cisco Beats Estimates, Forecasts 5-7% Growth

Cisco Systems shares jumped in after-hours trading Wednesday on better-than-expected quarterly results and a strong growth forecast that indicated its shift to software is gaining momentum.For the fourth quarter, Cisco reported net income of $3.8 billion, or 81 cents a share, compared with $2.42 ...

By Matthew Heller • Aug. 16, 2018

Audit Software Firm Nabs $40M in Funding

With many enterprises still using Excel to track the data produced by internal control, audit, and risk management activities, a cloud-based solution to perform the task has a chance to be a game changer.Enter AuditBoard, a Los Angeles-based startup that enables CFOs to create an out-of-the-box s...

By Vincent Ryan • Aug. 15, 2018

16 Years Later, SOX Compliance Continues to Evolve

In the early days after the Sarbanes-Oxley Act (SOX) took effect in 2002, companies expected to struggle for a few years under the added costs and effort required to comply with the new law. Then, they believed, the annual compliance exercise would gradually evolve into a relatively stable one.Th...

By David McCann • Aug. 13, 2018

ADT Shares Drop 6% on Unexpected Q2 Loss

ADT shares fell sharply in extended trading Wednesday as investors reacted to an unexpected quarterly loss that overshadowed a 6% gain in revenue and an improved outlook for the full year.The security company’s net loss for the second quarter narrowed to $67 million, or 9 cents per share, from $9...

By Matthew Heller • Aug. 9, 2018

Ex-Sonus CFO Fined Over Faulty Guidance

Cloud communications company Sonus Networks, its former CFO, and another executive have agreed to pay more than $1.9 million to settle charges that they provided misleading revenue guidance to investors.The U.S. Securities and Exchange Commission said finance chief Mark Greenquist ignored red fla...

By Matthew Heller • Aug. 8, 2018

CBD for Dogs with Arthritis

Best CBD Oil For Dogs With Arthritis – What to Look For When Buying Oils For Your DogBest Cbd Oil For Dogs With Arthritis – It’s time to get back to basics and really take a hard look at the top joint care oils on the market today. What kind of an anti-inflammatory natural substance can help redu...

By Matthew Heller • Aug. 8, 2018

Companies Plead for New Pharma Supply Model

A vast majority of benefits managers at large companies are dissatisfied with the pharmaceutical supply-chain model, which they consider to be complex, inefficient, and opaque.With steeply rising drug prices being the single biggest component of overall health-care cost increases in recent years,...

By David McCann • Aug. 8, 2018

Accelerated Share Repurchases Help Execs, Not Investors

U.S. companies’ interest in buying back their stock is well-known, and it’s anything but waning. According to Calcbench, S&P 500 firms repurchased $166.3 billion worth of shares during the first quarter of 2018, up 18.7% from a year ago.For a long time, companies have primarily performed regu...

By Ahmet Kurt • Aug. 7, 2018

Auction Calendar Shift Hits Sotheby’s Earnings

Sotheby’s shares dipped on Monday as quarterly earnings came in below expectations due to a shift in auction scheduling and a decline in commission margin.The auction house reported second-quarter net income of $57.3 million, or $1.08 per share, compared to $76.9 million, or $1.43 per share, a ye...

By Matthew Heller • Aug. 6, 2018

Metric of the Month: Number of Budget Versions

Though summer is still in full swing, CFOs’ thoughts have already turned toward next year. Thus begins the annual budgeting season, with the inevitable multiple versions making their way through endless rounds of approvals. The number of budget versions before final approval reflects the efficien...

By Perry D. Wiggins • Aug. 6, 2018

Kraft Heinz Protects Profit With Price Hikes

Kraft Heinz shares jumped more than 8% on Friday after the packaged food giant reported better-than-expected quarterly results and predicted improved profitability by the end of the year.Kraft Heinz’s net income fell to $756 million, or 62 cents per share, in the second quarter from $1.16 billion...

By Matthew Heller • Aug. 6, 2018

Tesla Shares Jump 16% Despite Record Loss

Tesla on Thursday posted a record quarterly loss but renewed assurances of profitability — and CEO Elon Musk’s more subdued behavior in an earnings call — helped push its shares to their biggest percentage gain since December 2013.For the second quarter, Tesla reported a loss of $718 million, or ...

By Matthew Heller • Aug. 3, 2018

Study Finds Disturbing Evidence of Earnings Management

Do investors get a straight story about company earnings?It’s well known that the traditional way of measuring profits, by generally accepted accounting principles (GAAP), has been gradually, increasingly overshadowed by other metrics in company press releases, analyst forecasts, and clearinghous...

By David McCann • Aug. 2, 2018