Stocks: A Bronx Cheer for Geithner

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M.D.C. Holdings (MDC) posted a $1.92 fourth-quarter loss per share vs. a $6.14 loss on a 62% revenue drop. The company expects to receive a tax refund of $165 million during the first quarter.

IntercontinentalExchange (ICE) posted $0.67 vs. $0.90 fourth-quarter GAAP EPS as higher operating expenses offset a 30% revenue rise.

Omnicom Group (OMC) posted $0.88 vs. $0.96 fourth-quarter EPS on a 7% worldwide revenue decline.

Pepsi Bottling Group (PBG) posted a $1.28 fourth-quarter loss per share vs. $0.35 EPS on a 5.6% revenue decline. The current quarter included a net after-tax charge of $336 million, or approximately $1.58 per share share, due to restructuring and asset impairment charges. Excluding charges, EPS was $0.30; Wall Street was looking for $0.25. For 2009, the company expects to achieve currency neutral top-line growth in the low-single digits; it sees 2009 EPS of $2.15-$2.25 (including an $0.18 negative impact from forex).

Shares of Principal Financial Group (PFG) plummeted Tuesday after the company posted $0.69 vs. $0.87 fourth-quarter operating EPS on a 13% revenue decline. Assets under management were $247.0 billion as of December 31, 2008, compared to $311.1 billion as of December 31, 2007. Moody's lowered its ratings outlook on Principal Financial to negative.

American Financial Group (AFG) posts $1.04 vs. $1.21 fourth-quarter operating EPS, reflecting higher investment income and improved results in annuity and supplemental operations, which were more than offset by lower underwriting profits within specialty property and casualty insurance operations. The company raised its 2009 operating EPS guidance to $3.70-$4.00. The guidance excludes potential for significant catastrophe and crop losses, unforeseen major adjustments to asbestos and environmental reserves, and large gains or losses from asset sales or impairments.