Rant About It...

Earnings: OCZ Technology, Monsanto, Marriott International, Ruby Tuesday, Lufkin Industries, RADVision Ltd

2011-10-05T16:38:00.000-07:00

Inline Guidance

OCZ Technology Raises Guidance, but Remains In-line with Estimates
Wednesday, October 05, 2011 4:35:08 PM ET
View: Complete Article | Historical Guidance

OCZ Technology Group, Inc. (OCZ) said it expects fiscal 2012 revenue of $320.0 million to $350.0 million. The company's previous guidance was revenue of $310.0 million to $345.0 million and the current consensus estimate is revenue of $331.9 million for the year ending February 29, 2012.

Monsanto Sees First Quarter Above Estimates; Fiscal Year In-line
Wednesday, October 05, 2011 8:00:00 AM ET
View: Complete Article | Historical Guidance

Monsanto Co. (MON) said it expects first quarter earnings of $0.10 to $0.15 per share and fiscal 2012 earnings of $3.34 to $3.44 per share. The current consensus earnings estimate is $0.05 per share for the quarter ending November 30, 2011 and $3.41 per share for the year ending August 31, 2012.

RPM International Reaffirms
Wednesday, October 05, 2011 7:30:00 AM ET
View: Complete Article | Historical Guidance

RPM International Inc. (RPM) said it continues to expect fiscal 2012 earnings of $1.60 to $1.67 per share on revenue of $3.65 billion to $3.72 billion. The current consensus earnings estimate is $1.58 per share on revenue of $3.64 billion for the year ending May 31, 2012.

Negative Guidance

Marriott Sees 2012 Below Estimates
Wednesday, October 05, 2011 4:10:00 PM ET
View: Complete Article | Historical Guidance

Marriott International Inc. (MAR) said it expects fourth quarter earnings of $0.45 to $0.50 per share. The current consensus earnings estimate is $0.49 per share for the quarter ending December 31, 2011. The company also said it expects 2012 earnings of $1.48 to $1.68 per share. The current consensus earnings estimate is $1.70 per share for the year ending December 31, 2012.

Ruby Tuesday Lowers Guidance
Wednesday, October 05, 2011 4:03:00 PM ET
View: Complete Article | Historical Guidance

Ruby Tuesday, Inc. (RT) said it expects a second quarter loss of $0.08 to $0.04 per share and now expects fiscal 2012 earnings of $0.60 to $0.75 per share. The company's previous guidance was for fiscal 2012 earnings of $0.75 to $0.85 per share. The current consensus estimate is for earnings of $0.05 per share for the quarter ending November 30, 2011 and earnings of $0.75 per share for the year ending May 31, 2012.

Lufkin Industries Warns
Wednesday, October 05, 2011 8:19:00 AM ET
View: Complete Article | Historical Guidance

Lufkin Industries, Inc. (LUFK) said it now expects third quarter earnings of $0.50 to $0.60 per share on revenue of $225.0 million to $235.0 million. The company's previous guidance was earnings of $0.72 to $0.82 per share on revenue of $230.0 million to $250.0 million and the current consensus earnings estimate is $0.75 per share on revenue of $242.5 million for the quarter ending September 30, 2011. The company also said it expects fourth quarter earnings of $0.70 to $0.80 per share on revenue of $240.0 million to $260.0 million. The current consensus earnings estimate is $0.90 per share on revenue of $255.2 million for the quarter ending December 31, 2011.

RADVision Guides Lower
Wednesday, October 05, 2011 8:00:03 AM ET
View: Complete Article | Historical Guidance

RADVision Ltd. (RVSN) said it now expects a third quarter non-GAAP loss of $0.39 to $0.35 per share on revenue of $17.0 million to $17.5 million. The company's previous guidance was loss of approximately $-0.27 per share on revenue of approximately $19.0 million and the current consensus estimate is a loss of $0.36 per share on revenue of $19.0 million for the quarter ending September 30, 2011.

Source: EarningsWhispers

Earnings: Pozen, Mindspeed Technologies, Acme Packet, Radware, Global Payments

2011-10-05T07:11:00.000-07:00

Positive Guidance

Global Payments Raises Earnings Guidance
Tuesday, October 04, 2011 4:01:00 PM ET
View: Complete Article | Historical Guidance

Global Payments, Inc. (GPN) said it now expects fiscal 2012 GAAP earnings of $3.13 to $3.20 per share and continues to expect revenue of $2.10 billion to $2.15 billion. The company's previous guidance was earnings of $3.02 to $3.09 per share and the current consensus earnings estimate is $3.11 per share on revenue of $2.12 billion for the year ending May 31, 2012.

Inline Guidance

Radware Narrows Guidance Lower, but Remains Above Estimates
Tuesday, October 04, 2011 8:31:00 AM ET
View: Complete Article | Historical Guidance

Radware Ltd. (RDWR) said it now expects third quarter non-GAAP earnings of $0.33 to $0.34 per share on revenue of $42.0 million to $42.2 million. The company's previous guidance was for earnings of $0.33 to $0.35 per share on revenue of $42.0 million to $43.0 million and the current consensus earnings estimate is $0.32 per share on revenue of $41.9 million for the quarter ending September 30, 2011.

SciClone Pharmaceuticals Reaffirms Above Estimates
Tuesday, October 04, 2011 7:01:39 AM ET
View: Complete Article | Historical Guidance

SciClone Pharmaceuticals Inc. (SCLN) said it continues to expect 2011 earnings of $0.52 to $0.57 per share on revenue of $133.0 million to $138.0 million. The current consensus earnings estimate is $0.50 per share on revenue of $134.3 million for the year ending December 31, 2011.

Negative Guidance

TranSwitch Lowers Guidance
Tuesday, October 04, 2011 4:55:00 PM ET
View: Complete Article | Historical Guidance

TranSwitch Corp. (TXCC) said it expects third quarter revenue of $6.5 million to $7.0 million. The company's previous guidance was revenue of approximately $7.0 million and the current consensus estimate is revenue of $7.1 million for the quarter ending September 30, 2011.

Acme Packet Guides Below Third Quarter Estimates
Tuesday, October 04, 2011 4:01:00 PM ET
View: Complete Article | Historical Guidance

Acme Packet Inc (APKT) said it expects third quarter earnings of $0.20 to $0.22 per share on revenue of $70.0 million. The current consensus earnings estimate is $0.30 per share on revenue of $82.8 million for the quarter ending September 30, 2011. The company said it continues to expect 2011 earnings of $1.14 to $1.18 per share on revenue of $315.0 million to $320.0 million. The current consensus earnings estimate is $1.18 per share on revenue of $326.3 million for the year ending December 31, 2011.

Mindspeed Technologies Guides Lower
Tuesday, October 04, 2011 8:30:03 AM ET
View: Complete Article | Historical Guidance

Mindspeed Technologies Inc (MSPD) said it expects fourth quarter revenue of approximately $40.5 million. The company's previous guidance was revenue of $42.2 million to $43.9 million and the current consensus estimate is revenue of $43.1 million for the quarter ending September 30, 2011.

Pozen Guides Below Estimates
Tuesday, October 04, 2011 7:30:00 AM ET
View: Complete Article | Historical Guidance

Pozen, Inc. (POZN) said it expects 2011 revenue of $18.0 million to $19.0 million. The current consensus estimate is revenue of $20.0 million for the year ending December 31, 2011.

Source: EarningsWhispers

September Private-Sector Jobs +91K Vs Expected +75K

2011-10-05T06:30:00.000-07:00

Private businesses added slightly more than expected jobs in September, according to a report released Wednesday. But large companies cut jobs and thanks mostly to two enterprises cutting staff, layoff announcements last month jumped to the highest number in more than two years.

Private-sector jobs in the U.S. rose by 91,000 last month, according to a national employment report published by payroll giant Automatic Data Processing Inc. (ADP) and consultancy Macroeconomic Advisers. Economists surveyed by Dow Jones Newswires had expected ADP would report a September gain of just 75,000. The August data were revised down to show a rise of 89,000 versus 91,000 reported a month ago. The ADP survey tallies only private-sector jobs, while the Bureau of Labor Statistics' nonfarm payroll data, to be released Friday, include government workers.

Economists surveyed by Dow Jones Newswires expect total nonfarm payrolls rose by only 60,000 slots in September after the number of jobs were unchanged in August. State and local government layoffs probably cut the top-line payroll number, while the return of about 46,000 workers on strike at Verizon in mid-August will lift the job tally. The September unemployment rate is expected to remain at 9.1%. The jobless rate has been 9.0% or more since April, a sign of how labor markets are running out of steam.

The latest ADP report showed large businesses with 500 employees or more cut 5,000 employees from their staffs, while medium-size businesses added 36,000 workers in September and small businesses that employ fewer than 50 workers hired 60,000 new workers. Service-sector jobs increased by 90,000 last month, and factory jobs fell by 5,000. ADP, of Roseland, N.J., says it processes payments of one in six U.S. workers, while Macroeconomic Advisers, based in St. Louis, is an economic-consulting firm. In another job-related report, U.S. employers announced plans to trim 115,730 workers from the payrolls last month, a 126% jump from August, according to Challenger Gray & Christmas.

Last month's total is the highest since April 2009, when 132,590 job cuts were announced. But the report said "it is important to keep in mind that 80,000 cuts, or nearly 70% of last month's total, came from just two organizations: Bank of America and the United States Army."

ECB Trichet: Not In Favor Of Bailout Funds Refinanced By ECB

2011-10-04T08:31:00.000-07:00

The euro zone's economic growth is likely to be "very moderate" in the second half of 2011, with risks "to the downside," European Central Bank President Jean-Claude Trichet said Tuesday.

"We expect very moderate real GDP growth in the euro area in the second half," Trichet said at a hearing of the European Parliament's economic and monetary affairs committee in Brussels.

Trichet said inflation is likely to stay above 2% in the coming months before falling below that level next year.

Medium and long-term inflation

Market News: Deutsche Bank, UBS, Google TV, Greece, AMR Crash Alert, IPO Market

2011-10-04T08:29:00.000-07:00

Melancholy start to Q4. Greece's admission that it will miss its budget-deficit targets roiled markets Monday as stocks kicked off Q4 on a sour note, with the S&P falling 2.85% to a 13-month low of 1,099.23, led by weakness in bank stocks. Morgan Stanley (MS) fell 7.6% and Bank of America (BAC) dived 9.6% as traders worried about counterparty risk if Europe continues to deteriorate. Futures are near session lows at 7:00, with benchmark S&P -0.8% to 1078, reflecting broader losses across Europe.

Europe double-dip? S&P dropped its 2012 outlook for Europe growth - for the second time in five weeks - to 1.1% from 1.5%, and now pegs the risk of a double-dip recession at 40%. Recent data "point to a fresh deterioration in the business climate," S&P said, not only in debt-strapped countries, "but also in the core countries of the eurozone and in the U.K." In a report today, Goldman said it now expects the eurozone to sink into a mild recession in Q4.

Deutsche Bank scraps profit target. Deutsche Bank (DB) said this morning it would not reach its 2011 profit target, predicting a €250M Q3 impairment on Greek sovereign debt. DB will also reduce headcount by another 500 "in response to the significant and unabated slowdown in client activity." While most banks have marked down Greek debt, Dexia (DXBGY.PK), BNP Paribas (BNPQY.PK) and SocGen (SCGLY.PK) have not - a decision analysts say is contributing to the downdraft in their share prices. Shares of DB were recently -5.8% in Frankfurt.

UBS sees modest Q3 profit. UBS (UBS) said this morning it expects to turn a "modest net profit" in Q3, despite the recent $2.3B rogue trading loss. But if you factor out €2.2B in 'adjustments,' UBS's modest profit is likely to fall well short of the €1.5B Street consensus, likely due to ongoing poor performance at its I-bank. UBS was recently +0.1% in Zurich.

Dexia props. French and Belgian FMs pledged to guarantee financing raised by teetering Dexia (DXBGY.PK), and said they'll intervene if necessary to protect account holders and creditors. Dexia needs about €5B to achieve its required 9% Tier I ratio. Shares fell Tuesday as much as 32% to an all time low, and are down 59% since June (PR). In a throwback to 2008, a French government source today insisted Dexia "has a problem of liquidity, not of solvency."

Google forges ahead with YouTube TV. Sources say Google (GOOG) is in late-stage talks with superstars and media outlets (TWX, NWS) to produce YouTube-only content, a first step to becoming "a next-generation cable provider that oversees dozens of free online channels with professional-grade shows." GOOG is forking over than $100M in advances to secure the exclusive shows.

A backstop for the Greece backstop. Eurozone FMs - including Finland - agreed on a deal to provide collateral for loans to Greece. The deal is available to all eurozone members; other member nations had vetoed an earlier bilateral deal between Greece and Finland.

AMR crash alert? American Airlines parent AMR (AMR) dove 33% Monday on renewed fears the third-largest U.S. carrier may be forced to seek bankruptcy protection. Fueling the speculation are concerns AMR has burned through its cash reserves, and reports that more than 200 pilots have retired from its central hub over the last two months, compared with a typical monthly dozen. AMR denied the reports, saying a bankruptcy filing is "not our goal or preference," but conceded that "we need to improve our results." Peer impact: LCC -16%, UAL -12%, DAL -11%, LUV -9%.

McGraw-Hill sells broadcasting business for $212M. McGraw-Hill (MHP) unloaded its nine-station broadcasting group to E.W. Scripps (SSP) for $212M, cashing in on a "non-strategic asset" as it works toward completing its split into two "pure play" companies.

Next up, $15T. The U.S. government ended its fiscal year with an unprecedented debt of $14.79T, including $95B tacked on in the final day.

China lashes out at U.S. yuan bill. In a veiled threat of a trade war, China expressed "deep regret" over a proposed bill - approved yesterday by the Senate - designed to pressure Beijing on its currency policy, saying it "seriously violates rules of the WTO and obstructs China-U.S. trade ties." The PBOC maintains that after factoring in inflation, the yuan is now close to a balanced level. House Republicans remain skeptical of the bill and the White House hasn't endorsed it.

IPO weakness not echoed in PE markets. In further evidence of the chill that's descended over the IPO scene, only 5 venture capital-backed companies went public in Q3, the lowest number since late 2009. On the other hand, 101 VC-backed companies were bought out; the dollar amount for deals with disclosed terms at its highest level since Q4 2009.

Earnings: ClickSoftware, Focus Media, Datalink, Wolverine World Wide, Vitesse Semiconductor, AudioCodes

2011-10-04T08:24:00.000-07:00

Positive Guidance

ClickSoftware Technologies Raises Guidance
Monday, October 03, 2011 5:30:00 AM ET
View: Complete Article | Historical Guidance

ClickSoftware Technologies Ltd. (CKSW) said it expects third quarter revenue of $22.7 million to $23.5 million. The current consensus estimate is revenue of $21.0 million for the quarter ending September 30, 2011. The company also said it now expects 2011 revenue of $85.0 million to $87.0 million. The company's previous guidance was revenue of $81.5 million to $85.0 million and the current consensus estimate is revenue of $83.4 million for the year ending December 31, 2011.

Inline Guidance

Team Reaffirms
Monday, October 03, 2011 4:05:07 PM ET
View: Complete Article | Historical Guidance

Team, Inc. (TISI) said it continues to expect fiscal 2012 earnings of $1.45 to $1.60 per share. The current consensus earnings estimate is $1.55 per share for the year ending May 31, 2012.

Datalink Provides Guidance
Monday, October 03, 2011 8:00:10 AM ET
View: Complete Article | Historical Guidance

Datalink Corp. (DTLK) said it expects third quarter non-GAAP earnings of $0.17 to $0.19 per share on revenue of $88.0 million to $90.0 million. The current consensus earnings estimate is $0.17 per share on revenue of $87.2 million for the quarter ending September 30, 2011.

Focus Media Reaffirms
Monday, October 03, 2011 7:17:00 AM ET
View: Complete Article | Historical Guidance

Focus Media Holding Ltd. (FMCN) said it continues to expect third quarter revenue of $186.0 million to $190.0 million. The current consensus estimate is revenue of $186.6 million for the quarter ending September 30, 2011.

Wolverine World Wide Raises Guidance but Remains In-line with Estimates
Monday, October 03, 2011 6:30:00 AM ET
View: Complete Article | Historical Guidance

Wolverine World Wide Inc. (WWW) said it expects 2011 earnings of $2.46 to $2.52 per share on revenue of $1.40 billion to $1.43 billion. The company's previous guidance was earnings of $2.40 to $2.50 per share on revenue of $1.38 billion to $1.42 billion and the current consensus earnings estimate is $2.49 per share on revenue of $1.42 billion for the year ending December 31, 2011.

Negative Guidance

Vitesse Semiconductor Lowers Guidance
Monday, October 03, 2011 8:00:10 AM ET
View: Complete Article | Historical Guidance

Vitesse Semiconductor Corp. (VTSS) said it expects fourth quarter revenue of $29.0 million to $30.5 million. The company's previous guidance was revenue of $35.0 million to $38.0 million and the current consensus estimate is revenue of $35.8 million for the quarter ending September 30, 2011.

AudioCodes Guides Lower
Monday, October 03, 2011 8:00:09 AM ET
View: Complete Article | Historical Guidance

AudioCodes Ltd. (AUDC) said it expects third quarter revenue of $36.0 million to $37.0 million. The current consensus estimate is revenue of $43.6 million for the quarter ending September 30, 2011. The company also said it expects 2011 revenue of $155.0 million to $162.0 million. The company's previous guidance was revenue of $167.0 million to $174.0 million and the current consensus estimate is revenue of $171.5 million for the year ending December 31, 2011.

Source: EarningsWhispers

Eastman Kodak Weighing Options Including A Bankruptcy Filing...

2011-10-01T01:26:00.000-07:00

End of an era!!

Eastman Kodak Co. (EK), the unprofitable 131-year-old camera maker, is weighing options including a bankruptcy filing because of concerns raised by possible bidders for its patent portfolio, said three people with direct knowledge of the process.

Some potential buyers of the patents are reluctant to proceed with bids because a purchase may amount to a so-called fraudulent transfer if Kodak becomes insolvent, said the people, who asked not to be named because the talks are private.

A number of suitors, such as Google Inc. (GOOG), have signed confidentiality agreements to examine the assets, said these people. If a sale were judged a fraudulent transfer, creditors could later sue for more money, said one of the people. A bankruptcy filing may help clear the way for the patent sale, said the people. The sale could fetch about $3 billion, according to estimates from MDB Capital Group.

Kodak has discussed its options with law firms Kirkland & Ellis LLP and Jones Day, the people said. It hasn’t yet hired a firm and a filing isn’t imminent, they said. Lazard Ltd. is advising Kodak on options for the patent portfolio.

“As we sit here today, the company has no intention of filing, and there is no change in our strategy to monetize our intellectual property,” said Gerard Meuchner, a spokesman for Kodak. “We’re not concerned about fraudulent conveyance in regards to the sale of our IP portfolio.”
He declined to comment on whether the company had discussed a potential filing with law firms, saying that Kodak is “focused on the fourth quarter and on delivering on our strategy to become a profitable, sustainable digital company.”

Exploring Options
A representative from Kirkland declined to comment. Katelin Todhunter-Gerberg, a spokeswoman for Mountain View, California- based Google, didn’t immediately respond to voice-mail and e- mail messages seeking comment, nor did an official for Jones Day.
Moody’s Investors Service cut Rochester, New York-based Kodak’s bond ratings this week and indicated further reductions may follow, citing “ongoing weakness” in the company’s operations. Kodak, which tapped a credit line earlier this month, has seen its market value sink by more than $30 billion from its 1997 peak.

Chief Executive Officer Antonio Perez announced plans in July to explore options for the portfolio of more than 1,100 patents, including some for processing, editing and storing images. Perez, who took the helm in 2005, has sharpened Kodak’s focus on the printing business to help revive revenue.

Sales have fallen by half since 2005 to $7.2 billion last year, with further declines predicted this year and next. The company’s losses since 2008 exceed $1.76 billion.Kodak, whose origins date back to 1880, was founded by George Eastman, who introduced the Kodak camera eight years later, according to the company’s website. Kodak has shifted away from traditional film as consumers gravitated toward digital cameras.

Source: Bloomberg

Earnings: Arch Coal, Key Technology, Ingersoll Rand, Alpha and Omega Semiconductor

2011-10-01T01:12:00.000-07:00

Negative Guidance

Arch Coal Lowers Guidance
Friday, September 30, 2011 4:32:00 PM ET
View: Complete Article | Historical Guidance

Arch Coal, Inc. (ACI) said it expects 2011 earnings of $1.00 to $1.40 per share. The company's previous guidance was earnings of $1.75 to $2.15 per share and the current consensus earnings estimate is $2.02 per share for the year ending December 31, 2011.

Key Technology Guides Below Estimates
Friday, September 30, 2011 9:30:06 AM ET
View: Complete Article | Historical Guidance

Key Technology Inc. (KTEC) said it expects fourth quarter revenue of approximately $26.3 million. The current consensus estimate is revenue of $29.8 million for the quarter ending September 30, 2011.

Sun Healthcare Guides Below Estimates
Friday, September 30, 2011 8:30:34 AM ET
View: Complete Article | Historical Guidance

Sun Healthcare Group Inc. (SUNH) said it expects 2011 earnings of $0.83 to $0.94 per share on revenue of $1.925 billion to $1.945 billion. The company previously withdrew its earlier guidance for earnings of $1.30 to $1.45 per share on revenue of $1.95 billion to $1.995 billion. The current consensus earnings estimate is $1.04 per share on revenue of $1.94 billion for the year ending December 31, 2011.

Ingersoll-Rand Lowers Guidance
Friday, September 30, 2011 7:00:00 AM ET
View: Complete Article | Historical Guidance

Ingersoll-Rand Co. (IR) said it now expects third quarter earnings of $0.77 to $0.80 per share on revenue of $3.90 billion to $3.95 billion. The company's previous guidance was earnings of $0.85 to $0.95 per share on revenue of $3.85 billion to $3.95 billion and the current consensus earnings estimate is $0.91 per share on revenue of $3.90 billion for the quarter ending September 30, 2011. The company also said it now expects 2011 earnings of $2.70 to $2.80 per share on revenue of $14.85 billion to $15.00 billion. The company's previous guidance was earnings of $2.90 to $3.10 per share but now expects revenue of $14.7 billion to $14.9 billion and the current consensus earnings estimate is $2.97 per share on revenue of $14.78 billion for the year ending December 31, 2011.

Alpha and Omega Semiconductor Lowers Guidance
Friday, September 30, 2011 6:00:09 AM ET
View: Complete Article | Historical Guidance

Alpha and Omega Semiconductor Ltd. (AOSL) said it expects first quarter revenue of $81.0 million to $83.0 million. The company's previous guidance was revenue of $83.0 million to $87.0 million. There currently are no revenue estimates for the quarter ending September 30, 2011.

Source: EarningsWhispers

Market News: Eurozone Inflation, Morgan Stanley's CDS, DOJ Into Chinese Books, Bofa Card Cost, Mortgage Rates, IBM Passes Microsoft

2011-09-30T06:53:00.000-07:00

Eurozone inflation picks up. The EU's statistics office estimates the eurozone's inflation rate has risen to 3% in September - up from 2.5% in August, ahead of economist expectations for a 2.5% rate, and representing the largest increase in consumer prices since October 2008. The data makes it even less likely the ECB will cut interest rates at its October 6 meeting, given its mandate of keeping inflation below 2%.

Morgan Stanley's CDS spread soars. The cost of acquiring credit-default swaps to insure Morgan Stanley's (MS) debt has soared to 456bp, higher than the cost of buying swaps for some major French and Italian banks. Morgan Stanley's CDS spread is still well below a post-Lehman peak of 1300bp, but nonetheless at its highest level since March 2009, as fears of French bank exposure heighten investor caution.

S&P and DJIA under one roof? Standard & Poor's owner McGraw-Hill (MHP) and CME Group (CME), owner of Dow Jones Indexes, are in advanced talks to combine their index businesses for the first time, in a joint venture of which MHP would own 75%. McGraw-Hill is in the process of breaking into two, and one institutional investor had recommended that S&P indexes be further split into a separate business.

Justice looks into Chinese books. The Justice Department is investigating accounting irregularities at Chinese companies listed on U.S. exchanges, enforcement director Robert Khuzami confirms. The department's involvement adds firepower to the SEC and the FBI, which have been probing Chinese companies for more than a year.

... And more China gloom. Adding to bad news from the Middle Kingdom was a Bloomberg survey that indicated more than half of investor respondents expected growth in China to slow to less than 5% a year by 2016. Shares of U.S.-based retail firms with exposure to China, such as Tiffany (TIF) and Coach (COH), took a pounding.

BofA's new card cost. In a move likely to be followed by other banks, Bank of America (BAC) will soon charge most of its customers a new $5 fee for any month in which they use a BofA debit card to make a purchase. The bank, like others, is considering new ways to recover debit card revenue that is going away because of Dodd-Frank regulations.

Apotheker's H-P takeaway. Hewlett-Packard (HPQ) agreed to pay ousted CEO Leo Apotheker $7.2 million in severance over the next 18 months, and millions more in bonuses and stock - the culmination of a stormy 11-month tenure during which the company lost $38 billion in market value. New CEO Meg Whitman will take a $1 salary, but with options on nearly 1.9 million shares and a target 2012 bonus of $2.4 million.

Ford talks U.S. jobs. Depending on estimates, Ford Motor (F) plans to add between 7,000 and 10,000 jobs in the U.S., part of talks with the United Auto Workers. CEO Alan Mulally is in Thailand, where the company is investing heavily, but some 4,000 U.S. jobs could come from shifting Fusion production to the U.S. from Mexico.

Micron posts a loss. Micron Technology (MU) fell more than 3% after hours Thursday after posting a surprise loss of $135 million (or $0.14 a share), a swing from the prior year's profit of $0.32 a share. Falling DRAM prices - the result of oversupply and a tech spending slowdown - were largely the cause, along with a drop in NAND chip prices.

CEO views darken. Chief executives' outlooks on the economy are growing worse, as the Business Roundtable's latest quarterly survey found 24% expecting to cut jobs during the next six months, up from Q2's 11%. The number expecting company sales to rise fell to 65% from 87%, and the number forecasting higher capital spending slipped to 32% from 61%.

New record lows for mortgages. Freddie Mac reported 30-year fixed mortgage rates are at record lows, falling to 4.01% in the weekly survey from a previous mark of 4.09%. Lenders in the Western part of the U.S. reported the lowest average of the five regions polled, checking in at 3.95%. Fifteen-year fixed rates averaged 3.28%.

IBM Passes Microsoft. IBM's market cap has surpassed Microsoft's (MSFT) for the first time since 1996. While Big Blue's profits have steadily increased as the company abandoned low-margin hardware businesses, and focused its attention on higher-margin services and software operations, Microsoft has been weighed down by slowing PC industry growth and massive losses at its online division.

Market News: German Vote, Amazon Fire, Motorola deal, HP Hires Goldman, AMD trimmed, Short-sale ban, Eastman Kodak fading

2011-09-29T08:47:00.000-07:00

Germany backs expanded ESFS. The German parliament approved increasing the size and flexibility of the ESFS. The winning margin in the Bundestag was a comfortable 523 to 85, while three members abstained. The vote marks an important victory for German Chancellor Angela Merkel, as she faces internal and external criticism over Germany's bailout efforts.

Targeting iPad: Ready, aim, Fire. Amazon.com (AMZN) unveiled its much-anticipated Kindle Fire tablet, featuring a 7-inch display and costing only $199 - $50 less than the Nook Color (BKS) and $300 less than the cheapest iPad (AAPL). The tablet will run on Android (GOOG), but nonetheless act like a "souped-up Kindle." Amazon also will roll out a basic $79 version of its traditional Kindle e-reader and touchscreen versions at $99 and $149, which might prime it to take a bite out of Apple.

A longer look at Motorola deal. The Justice Department's antitrust division asks Google (GOOG) and Motorola Mobility (MMI) for more information regarding their proposed $12.5 billion merger - which may delay a closing set for around the end of 2011. The antitrust reviews are separate from the FTC's ongoing look at whether Google has monopoly power over Internet search. Google's shares are down 11% year-to-date.

H-P girds with Goldman. Preparing for the prospect of activist investors who might want to make some changes, Hewlett-Packard (HPQ) has reportedly hired defense expert Goldman Sachs (GS) to guard the company from attacks - which means strategies like poison pills could be in the offing. One target of criticism: new CEO Meg Whitman.

Reebok fire back. Adidas' (ADDYY.PK) Reebok unit responds to FTC claims of false advertising, saying a $25 million settlement with the regulator does not mean the company agrees with an allegation it misrepresented the health effect of its "toning shoes" to consumers. The FTC action rattled shares of other shoe companies making health-related claims including Skechers (SKX), Crocs (CROX), and Steve Madden (SHOO).

Targets trimmed at AMD. Advanced Micro Devices (AMD) fell 9.4% in after-hours trading after warning its Q3 revenue will increase only 4%-6% from the prior quarter, compared with prior guidance of 8%-12%. The company also said it expects its gross margin to come in at 44%-45%, below guidance of 47%. AMD primarily blamed the weakness on manufacturing issues related to its 32nm technology. Intel (INTC) ramped 32nm production in early 2010.

UAW OK with new GM pact. The United Auto Workers ratified a four-year collective bargaining agreement with General Motors (GM), saying the contract will create 6,400 new jobs in the U.S., including positions for new hires as well as laid-off workers. CFO Dan Ammann estimated the new agreement will increase its hourly labor costs by 1% annually, the slimmest amount of any contract in the past four decades. GM expects 14% of 10,000 skilled trade workers to take buyout deals, which would be "extremely beneficial in keeping our fixed cost in line as industry demand improves."

Fed chairman frets jobs, deflation. Ben Bernanke delivered a largely academic speech about "lessons from emerging market economies" that avoided comments on U.S. monetary policy, but the Q&A session afterward was a bit more interesting. Bernanke bemoaned a weak labor market as "a national crisis," noting "we've had close to 10% unemployment now for a number of years, and of the people who are unemployed, about 45% have been unemployed for six months or more... This is unheard of," and called for policies "that could help them find work, train for work and retain their skills." If inflation falls too far, "that would be something we have to respond to because we do not want deflation," he added.

Online ad revenues still clicking. The Internet Advertising Bureau estimated U.S. online ad revenues rose 23% in the first half to a record $14.9 billion, a major ramp in growth from the 11% and $12.1 billion reported for 1H 2010. Google (GOOG) and ValueClick (VCLK) investors could be pleased to know search and display ad sales both rose 27%, and video sales 42%. But a 2% decline in classified sales might not sit well with New York Times (NYT) and Washington Post (WPO) investors.

Short-sale bans go on. Italy and Spain extended their bans on short-selling due to ongoing volatility, according to European regulator ESMA. Italy extended until Nov. 11, while Spain didn't set a date, saying its decision was based on "protracted instability in European securities markets." The extensions seemed to coincide with the start of yesterday's late selloff in stocks and commodities.

Kodak's picture fading. Fitch Ratings followed up on Moody's Tuesday downgrade of Eastman Kodak's (EK) credit rating with its own cut to CC - a level signifying "default of some kind appears probable." It's been a horrendous week for shares - down 38% in three days - kickstarted when the firm surprised investors with a $160 million draw on its credit facility due to dwindling cash flows

Market News: iPhone5, Greek fate, Housing market, Euro banks...

2011-09-28T18:32:00.000-07:00

Risk on, then off, then on... Stocks surged Tuesday but gave back half of their gains in the final hour following reports of a split in the eurozone over terms of the next Greece bailout (more below). Treasury prices continued their slide, sending 10-year yields back to 2%. It was risk-on in commodities, as gold and oil rose sharply. Shaking off early weakness, futures point to a strong open.

Troika audit to decide Greek fate. Greece faces a new test today as troika auditors head for Athens, which could lead to parts of Greece's €109B rescue being reopened: "We have to wait and see what the troika finds," German Chancellor Merkel said, "it will tell us (whether) we will have to renegotiate or not." Greece's second bailout would impose a 21% loss on private bondholders, but many economists believe a 50% loss is necessary to make the country's debt viable. The FT reported yesterday that seven eurozone states are demanding private creditors take a bigger haircut on Greek holdings.

EU's Barroso calls for fiscal stimulus. European Commission president Jose Manuel Barroso urged euro-area members who "have fiscal space available" to "explore it" in order to boost growth, a tack not likely to sit well with Germany, who believes austerity is the only way to solve the debt crisis. Barroso also said that deeper euro-zone integration was necessary before he'd consider jointly underwritten EU bonds.

Redemptions pound huge hedge fund. Shares of U.K. hedge fund Man Group (MNGPF.PK) fell 19% in London after it said AUM fell 8% to $65B despite record fund sales. Redemptions shaved $2.6B off the total; negative performance another $1.5B; and a stronger dollar (vs. euro and aussie) drove AUM down $1.9B. The drop underscores how volatile markets are eroding AUM at hedge funds and other asset managers.

Euro banks innovate. With European banks' unsecured debt being shunned, and covered bonds - backed by mortages and high-quality loans - limited by regulators, banks have begun floating "quasi-covered bonds" - backed by a revolving pool of collateral including stocks and ETFs. They're also increasingly using "collateral swaps" - in which banks trade assets with insurers or pension funds in exchange for government debt.

Cautious Fed nixes bank buybacks. Sources say the Fed is pushing back against U.S. banks that have approached it recently seeking approval for additional or accelerated stock buybacks. Buybacks are a temptation given the steep decline in bank shares in recent weeks, but with higher capital requirements and expectations of ugly Q3 earnings, regulators are exercising caution.

Small signs of a housing uptick. The "shadow inventory" of foreclosed or seriously delinquent homes fell by 0.3M Y/Y in July, to 1.6M. The total supply of homes for sale now stands at 8.4 months, down from 11 months a year ago. And a recent survey found the percentage of consumers who think now is a good time to buy a home bounced back strongly in September.

Rough IPO market. IPOs are having their worst quarter since Q2 2009, with 71% of offerings trading below their issue prices, and total new issue volume down 58% Y/Y. There are still 330 deals in the pipeline for i-banks to eventually collect fees on, but the current environment is driving many companies to delay going public. And things are equally bad overseas: In Hong Kong, the world's biggest IPO market, $4.5B of deals were pulled last week.

iPhone 5 on Oct. 4? Apple on Tuesday invited reporters to a "Let's talk iPhone" event on Oct. 4, widely expected to be the much-anticipated iPhone 5 launch, although Cupertino would be an unusual location to do so. Sources say the new model will have a bigger touch screen and 8-megapixel camera; will have some serious voice-control features; and will be fully compatible with iCloud.

Earnings: Titan International, Actuant, Family Dollar, McCormick, AMD

2011-09-28T18:23:00.000-07:00

Inline Guidance

Titan International Raises Guidance to be Closer to Estimates
Wednesday, September 28, 2011 6:25:00 PM ET
View: Complete Article | Historical Guidance

Titan International Inc. (TWI) said it now expects 2011 revenue of approximately $1.40 billion. The company's previous guidance was revenue of $1.20 billion to $1.35 billion and the current consensus revenue estimate is revenue of $1.45 billion for the year ending December 31, 2011.

Actuant Sees First Quarter Revenue Below Estimates
Wednesday, September 28, 2011 7:30:01 AM ET
View: Complete Article | Historical Guidance

Actuant Corp. (ATU) said it expects first quarter earnings of $0.40 to $0.45 per share on revenue of $365.0 million to $375.0 million. The current consensus earnings estimate is $0.44 per share on revenue of $387.9 million for the quarter ending November 30, 2011. The company also said it expects 2012 earnings of $1.80 to $2.00 per share on revenue of $1.60 billion to $1.65 billion. The current consensus earnings estimate is $1.92 per share on revenue of $1.63 billion for the year ending August 31, 2012.

Family Dollar Stores Guides In-line
Wednesday, September 28, 2011 7:00:01 AM ET
View: Complete Article | Historical Guidance

Family Dollar Stores, Inc. (FDO) said it expects first quarter earnings of $0.65 to $0.73 per share and fiscal 2012 earnings of $3.50 to $3.75 per share. The current consensus earnings estimate is $0.66 per share for the quarter ending November 30, 2011 and $3.59 per share for the year ending August 31, 2012.

McCormick & Co Reaffirms
Wednesday, September 28, 2011 7:00:01 AM ET
View: Complete Article | Historical Guidance

McCormick & Co Inc (MKC) said it continues to expect 2011 earnings of $2.74 to $2.79 per share. The current consensus earnings estimate is $2.79 per share for the year ending November 30, 2011.

Negative Guidance

AMD Lowers Guidance
Wednesday, September 28, 2011 4:25:44 PM ET
View: Complete Article | Historical Guidance

Advanced Micro Devices, Inc. (AMD) said it now expects third quarter revenue of $1.64 billion to $1.67 billion. The company's previous guidance was revenue of $1.70 billion to $1.76 billion and the current consensus estimate is revenue of $1.72 billion for the quarter ending September 30, 2011.

Camelot Information Systems Lowers Guidance
Wednesday, September 28, 2011 8:00:00 AM ET
View: Complete Article | Historical Guidance

Camelot Information Systems Inc. (CIS) said it expects third quarter revenue of approximately $57.0 million. The company's previous guidance was revenue of approximately $63.0 million and the current consensus estimate is revenue of $61.6 million for the quarter ending September 30, 2011. The company also said it expects 2011 revenue of approximately $235.0 million. The company's previous guidance was revenue of approximately $244.0 million and the current consensus estimate is revenue of $242.8 million for the year ending December 31, 2011.

Source: Earnings Whispers

Market News: Adobe Systems, Philips, FedEx, Jabil...

2011-06-22T20:16:00.000-07:00

Among the companies whose shares are actively trading in the session are FedEx Corp. (FDX), Adobe Systems Inc. (ADBE) and Royal Philips Electronics NV (PHG, PHIA.AE).

The head of FedEx ($92.17, +$3.04, +3.41%) said Wednesday that near-term economic weakness was "temporary", with anticipated expansion in the industrial sector helping the world's largest air cargo carrier guide to fiscal 2012 earnings above analysts' expectations.

Adobe Systems' ($30.37, -$1.64, -5.12%) fiscal second-quarter profit rose 54% as the software company benefited from strong demand for its Web analytics products, but a tepid growth forecast disappointed Wall Street.

Philips ($23.49, -$2.56, -9.83%) Wednesday warned of a significant drop in second-quarter operating profit at its lighting and consumer lifestyle divisions, which have been hit by weak consumer demand and stalling construction activity across Western Europe.

CarMax Inc.'s (KMX, $32.85, +$2.33, +7.62%) fiscal first-quarter earnings rose 25% as the used-car retailer reported that increased customer traffic helped fuel sales growth. Results beat analysts' expectations.

Jabil Circuit Inc.'s (JBL, $19.65, +$0.80, +4.24%) fiscal third-quarter earnings doubled as the electronics contractor's top line bested its upbeat guidance. Separately, the company a contract manufacturer of circuit boards for computers and telecom equipment, said the board approved the repurchase of up to $200 million worth of shares during the next year, which represents roughly 5% of current market value.

Achillion Pharmaceuticals Inc.'s (ACHN, $6.96, +$0.95, +15.72%) bigger-sized stock sale of 9.6 million shares priced at $5.90, a mere 1.8% discount to its Tuesday close, as the drug developer looks to raise funds to help bring its drug candidates to market.

AeroVironment Inc.'s (AVAV, $34.47, +$5.86, +20.48%) fiscal fourth-quarter earnings rose 13% on a jump in contract-services revenue for a change, but the unmanned-aircraft manufacturer's results didn't stray from its pattern of trumping analysts' expectations. It also predicted a stronger fiscal 2012 than Wall Street anticipated.

Apogee Enterprises Inc.'s (APOG, $13.03, +$0.48, +3.82%) fiscal first-quarter loss narrowed more-than-expected on a surprisingly strong gain in revenue, the industrial-glass products maker's first top-line increase in more than two years.

Asia Entertainment & Resources Ltd.'s (AERL, $6.50, +$0.89, +15.86%) board authorized a regular semi-annual dividend and established a repurchase program of up to 2 million ordinary shares.

Stifel Nicolaus upgraded Boston Scientific Corp. (BSX, $7.15, +$0.23, +3.32%) to buy from hold, expecting a margin increase from the launch of its Promus Element stent in the U.S., reduced costs and a healthier balance sheet.

Stifel says Boston Scientific will also benefit from J&J's (JNJ, $66.40, -$0.09, -0.14%) decision to exit the drug eluting stent business, though it is not expecting much organic revenue growth from Boston Scientific.

Cardtronics Inc. (CATM, $21.99, +$0.60, +2.81%) agreed to acquire a privately held ATM deployer for about $145 million, in a deal that expands its automated teller footprint in the Midwest, and that it expects to boost earnings starting this year.

Oppenheimer initiated coverage of Ceva Inc. (CEVA, $30.32, +$2.39, +8.54%) with a stock-investment rating of outperform, saying the silicon intellectual-property licensor is likely to continue to steadily grow its leading market share in digital signal processors in an already growing cellular market and has additional markets that complement its current position, such as Internet-enabled televisions and smart meters.

Shares of Cree Inc. (CREE, $33.08, -$0.92, -2.71%) slid after the light-emitting diode company got a bearish mention in the lightning round of Jim Cramer's CNBC show "Mad Money."

U.K.-based AstraZeneca PLC (AZN.LN) Wednesday said it agreed to sell its dental implants and medical devices unit Astra Tech to U.S.-based Dentsply International Inc. (XRAY, $38.73, +$1.12, +2.98%) for $1.8 billion, after a sale process that attracted strong interest from private-equity firms and strategic buyers looking to tap into growth in the dental implants market.

Wells Fargo raised its stock-investment rating on Diamond Offshore Drilling Inc. (DO, $69.67, +$1.65, +2.43%) to outperform from market perform, citing its now-attractive valuation and the potential for the company to increase its dividend.

Barclays upgraded its stock-investment rating on F5 Networks Inc. (FFIV, $106.38, +$3.38, +3.28%) to overweight from equalweight, citing healthy demand and improving visibility. The firm added that benign competition in its core market allows for share gains.

Stifel Nicolaus says recent weakness in Forest Oil Corp. (FST, $26.90, +$0.60, +2.26%) provides a good entry point into the shares, which it upgraded to buy. Stifel says Forest is trading at a discount to peers and should outperform over the next 6-12 months. The firm added its valuation will be better understood once Forest provides updated guidance after the spinoff of its Lone Pine unit.

Ladenburg Thalmann initiated coverage of FriendFinder Networks Inc. (FFN, $3.99, +$0.35, +9.62%) with a stock-investment rating of buy, saying that with ongoing growth in the online social networking segment and FriendFinder's large presence in the space, the company is poised for a significant period of revenue and bottom-line growth.

FSI International Inc.'s (FSII, $2.91, -$0.77, -20.92%) fiscal third-quarter profit slid 30% as sales and gross margins declined, although the bottom line managed to exceed Wall Street's expectations. But FSI also offered a weak outlook for the current quarter.

Susquehanna raised its stock-investment rating on managed-care company HealthSpring Inc. (HS, $47.65, +$1.84, +4.02%) to positive from neutral, saying the company is well positioned to benefit from strong enrollment growth, low utilization and reimbursement visibility. Shares of homebuilders gained after government data showed U.S home prices rose unexpectedly in April, increasing for the first time in nearly a year, and providing a glimmer of good news in an otherwise battered sector.

KB Home (KBH, $12.00, +$0.30, +2.59%), D.R. Horton Inc. (DHI, $11.71, +$0.33, +2.90%), PulteGroup Inc. (PHM, $7.61, +$0.15, +2.01%) and Beazer Homes USA Inc. (BZH, $3.45, +$0.11, +3.29%) were all trading higher.

La-Z-Boy Inc.'s (LZB, $9.98, -$0.92, -8.44%) fiscal fourth-quarter profit slid 26% as write-downs masked better-than expected sales driven by growth in the company's retail segment. The latest quarter's results also benefited from an additional selling week. Wall Street Strategies cut its stock-investment rating on the furniture company to hold from buy. Activist investment firm Relational Investors LLC reported Wednesday that it has become the largest shareholder in defense firm

L-3 Communications Holdings Inc. (LLL, $86.15, +$3.77, +4.58%), and is pushing for a breakup of the firm.

PostRock Energy Corp. (PSTR, $5.94, +$0.52, +9.59%) agreed to purchase all of Constellation Energy Group Inc.'s (CEG, $36.88, -$0.15, -0.41%) interests in a coalbed methane exploration and production company for about $22.5 million in cash and stock.

Quanta Services Inc. (PWR, $19.56, +$0.33, +1.72%) added $50 million to its stock repurchase program, raising the total plan authorization to $150 million.

Regions Financial Corp. (RF, $6.37, +$0.07, +1.11%) is putting its Morgan Keegan & Co. brokerage up for sale in a bid to raise more capital and repay the bank's crisis-era government aid. The decision comes the same day federal and state regulators announced a settlement totaling roughly $200 million with the brokerage that resolves civil-fraud charges the Securities and Exchange Commission brought last year.

Robbins & Myers Inc.'s (RBN, $48.50, +$3.80, +8.50%) fiscal third-quarter profit soared, as strong demand from its oil and gas customers and a recent acquisition boosted the top line.

BB&T Capital Markets initiated coverage of heavy-duty custom-vehicle maker Spartan Motors Inc. (SPAR, $5.04, +$0.64, +14.55%) with a stock-investment rating of buy and a $9 price target, citing new products and opportunities this cycle.

Eastman Chemical Co. (EMN, $100.57, +$0.47, +0.47%) agreed to acquire Sterling Chemicals Inc. (SCHI, $2.48, +$0.95, +62.09%) for $7.08 million in cash in order to boost its plasticizer product line.

Wunderlich Securities cut its stock-investment rating on Synovus Financial Corp. (SNV, $2.27, -$0.05, -2.11%) to hold from buy, saying it believes Synovus' earnings power beyond this credit cycle will be greatly constrained by the potential need to raise significant amounts of common equity in order to exit the TARP program.

Barrington Research initiated coverage of pet healthcare-provider VCA Antech Inc. (WOOF, $20.29, +$0.60, +3.05%) with a stock-investment rating of outperform, noting pet owners are spending more on their pets on a per visit basis as well as becoming increasingly aware of the importance of routine visits with veterinarians. The firm added that VCA Antech grows largely through acquisitions and current animal hospital industry conditions appear very advantageous.

Western Liberty Bancorp Inc. (WLBC, $3.13, +$0.20, +6.83%) said it is exploring strategic options, as the parent of Service1st Bank of Nevada also said it will boost its loan-loss provisions significantly.

Smartphone-accessory maker ZAGG Inc. (ZAGG, $14.05, +$1.45, +11.50%) said it will acquire privately held iFrogz Inc. for about $105 million in a deal aimed at broadening its product portfolio.

World Official Gold Holding - May 2011

2011-06-08T16:40:00.001-07:00

Earnings: Booz Allen Hamiltion, DuPont, Modine Manufacturing, Navistar, QuinStreet, LDK Solar, SunPower

2011-06-07T17:20:00.000-07:00

Positive Guidance

Ulta Salon Guides Above Estimates
Tuesday, June 07, 2011 4:01:01 PM ET
View: Complete Article | Historical Guidance

Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) said it expects second quarter earnings of $0.31 to $0.33 per share on revenue of $378.0 million to $384.0 million. The current consensus earnings estimate is $0.30 per share on revenue of $376.8 million for the quarter ending July 31, 2011.

Oxford Industries Raises Guidance
Tuesday, June 07, 2011 4:00:00 PM ET
View: Complete Article | Historical Guidance

Oxford Industries, Inc. (OXM) said it expects second quarter earnings of $0.48 to $0.53 per share on revenue of $172.0 million to $182.0 million. The current consensus earnings estimate is $0.53 per share on revenue of $179.9 million for the quarter ending July 31, 2011. The company said it expects fiscal year earnings of $2.15 to $2.25 per share on revenue of $730.0 million to $745.0 million. The company's previous guidance was earnings of $1.95 to $2.05 per share on revenue of $725.0 million to $740.0 million and the current consensus earnings estimate is $2.04 per share on revenue of $732.2 million for the year ending January 31, 2012.

Booz Allen Hamilton Raises Guidance
Tuesday, June 07, 2011 7:00:00 AM ET
View: Complete Article | Historical Guidance

Booz Allen Hamilton Holding Corporation (BAH) said it now expects fiscal 2012 non-GAAP earnings of $1.55 to $1.65 per share. The company's previous guidance was for earnings of $1.45 to $1.55 per share and the current consensus earnings estimate is $1.52 per share for the year ending March 31, 2012.

Inline Guidance

ABM Industries Reaffirms
Tuesday, June 07, 2011 5:00:00 PM ET
View: Complete Article | Historical Guidance

ABM Industries, Inc. (ABM) said it continues to expect fiscal 2011 earnings of $1.43 to $1.53 per share. The current consensus earnings estimate is $1.46 per share for the year ending October 31, 2011.

Bob Evans Guides In-line
Tuesday, June 07, 2011 4:01:00 PM ET
View: Complete Article | Historical Guidance

Bob Evans Farms Inc. (BOBE) said it expects fiscal 2012 earnings of $2.36 to $2.44 per share on revenue of approximately $1.70 billion. The current consensus earnings estimate is $2.38 per share on revenue of $1.72 billion for the year ending April 30, 2012.

Navarre Guides In-line
Tuesday, June 07, 2011 4:00:04 PM ET
View: Complete Article | Historical Guidance

Navarre Corp. (NAVR) said it expects fiscal 2012 revenue of $490.0 million to $520.0 million. The current consensus estimate is revenue of $495.6 million for the year ending March 31, 2012.

Astronics Reaffirms
Tuesday, June 07, 2011 3:25:00 PM ET
View: Complete Article | Historical Guidance

Astronics Corp. (ATRO) said it continues to expect 2011 revenue of $210.0 million to $225.0 million. The current consensus estimate is revenue of $219.8 million for the year ending December 31, 2011.

DuPont Reaffirms
Tuesday, June 07, 2011 9:30:00 AM ET
View: Complete Article | Historical Guidance

DuPont (DD) said it continues to expect 2011 earnings of $3.65 to $3.85 per share. The current consensus earnings estimate is $3.83 per share for the year ending December 31, 2011.

Modine Manufacturing Guides In-line
Tuesday, June 07, 2011 8:30:09 AM ET
View: Complete Article | Historical Guidance

Modine Manufacturing Co. (MOD) said it expects fiscal 2012 earnings of $0.95 to $1.05 per share on revenue of $1.62 billion to $1.68 billion. The current consensus earnings estimate is $1.04 per share on revenue of $1.64 billion for the year ending March 31, 2012.

Skyworks Solutions Reaffirms
Tuesday, June 07, 2011 8:00:13 AM ET
View: Complete Article | Historical Guidance

Skyworks Solutions, Inc. (SWKS) said it continuest to expect third quarter non-GAAP earnings of approximately $0.46 per share on revenue of approximately $345.0 million. The current consensus earnings estimate is $0.46 per share on revenue of $345.3 million for the quarter ending June 30, 2011.

Navistar Raises Guidance, but Remains In-line with Estimates
Tuesday, June 07, 2011 6:00:01 AM ET
View: Complete Article | Historical Guidance

Navistar International Corporation (NAV) said it now expects 2011 earnings of $5.50 to $6.00 per share. The company's previous guidance was earnings of $5.00 to $6.00 per share and the current consensus earnings estimate is $5.50 per share for the year ending October 31, 2011.

Negative Guidance

QuinStreet Guides Below Estimates
Tuesday, June 07, 2011 4:15:40 PM ET
View: Complete Article | Historical Guidance

QuinStreet Inc (QNST) said it expects fourth quarter revenue of approximately $88.6 million. The current consensus estimate is revenue of $102.5 million for the quarter ending June 30, 2011. The company also said it expects fiscal 2012 revenue of $455.0 million to $475.0 million. The current consensus estimate is revenue of $480.0 million for the year ending June 30, 2012.

LDK Solar Guides Revenue Below Estimates
Tuesday, June 07, 2011 4:15:00 PM ET
View: Complete Article | Historical Guidance

LDK Solar Co Ltd (LDK) said it expects second quarter revenue of $710.0 million to $760.0 million. The current consensus estimate is revenue of $771.7 million for the quarter ending June 30, 2011.

SunPower Raises Revenue Projections, but Sees Earnings Below Estimates
Tuesday, June 07, 2011 4:05:00 PM ET
View: Complete Article | Historical Guidance

SunPower Corp (SPWRA) said it expects second quarter results to range from a loss of $0.05 per share to earnings of $0.10 per share on revenue of $550.0 million to $600.0 million. The company's previous guidance was revenue of $500.0 million to $550.0 million and the current consensus earnings estimate is $0.23 per share on revenue of $542.0 million for the quarter ending June 30, 2011. The company said it expects 2011 earnings of $1.20 to $1.70 per share on revenue of $2.80 billion to $2.95 billion. The current consensus earnings estimate is $1.79 per share on revenue of $2.69 billion for the year ending December 31, 2011.

Source: Earnings Whispers

Earnings: G-III Apparel, AutoChina International, PNM Resources, Camden Property Trust

2011-06-06T17:15:00.000-07:00

Inline Guidance

G-III Apparel Reaffirms Fiscal Year Guidance
Monday, June 06, 2011 4:01:00 PM ET
View: Complete Article | Historical Guidance

G-III Apparel Group, Ltd. (GIII) said it expects second quarter earnings of $0.18 to $0.22 per share on revenue of approximately $215.0 million. The current consensus earnings estimate is $0.22 per share on revenue of $221.2 million for the quarter ending July 31, 2011. The company said it continues to expect fiscal year earnings of $3.15 to $3.25 per share on revenue of approximately $1.20 billion. The current consensus earnings estimate is $3.25 per share on revenue of $1.21 billion for the year ending January 31, 2012.

Hudson Pacific Properties Lowers Guidance, but Remains In-line with Estimates
Monday, June 06, 2011 9:00:07 AM ET
View: Complete Article | Historical Guidance

Hudson Pacific Properties Inc (HPP) said it now expects 2011 funds from operations of $0.99 to $1.04 per share. The company's previous guidance was for FFO of $1.01 to $1.06 per share and the current consensus FFO estimate is $1.02 per share for the year ending December 31, 2011.

AutoChina Reaffirms
Monday, June 06, 2011 8:00:11 AM ET
View: Complete Article | Historical Guidance

AutoChina International Limited (AUTC) said it continues to expect 2011 revenue of $900.0 million to $950.0 million. There currently are no revenue estimates for the year ending December 31, 2011.

PNM Resources Reaffirms
Monday, June 06, 2011 8:00:03 AM ET
View: Complete Article | Historical Guidance

PNM Resources, Inc. (PNM) said it continues to expect 2011 earnings of $0.80 to $0.92 per share. The current consensus earnings estimate is $0.83 per share for the year ending December 31, 2011.

Negative Guidance

Camden Property Trust Lowers Guidance
Monday, June 06, 2011 7:30:01 AM ET
View: Complete Article | Historical Guidance

Camden Property Trust (CPT) said it now expects second quarter funds from operations of $0.36 to $0.40 per share and 2011 FFO of $2.52 to $2.72 per share. The company's previous guidance was FFO of $0.76 to $0.80 per share and 2011 FFO of $2.90 to $3.10 per share. The current consensus FFO estimate is $0.77 per share for the quarter ending June 30, 2011 and $3.03 per share for the year ending December 31, 2011.

Source: Earnings Whispers

Earnings: PDL BioPharma, Vera Bradley, Colfax

2011-06-01T17:46:00.000-07:00

Positive Guidance

PDL BioPharma Guides Above Estimates
Wednesday, June 01, 2011 7:00:00 AM ET
View: Complete Article | Historical Guidance

PDL BioPharma Inc (PDLI) said it expects second quarter revenue of approximately $128.0 million. The current consensus estimate is revenue of $125.7 million for the quarter ending June 30, 2011.

Inline Guidance

Vera Bradley Sees Second Quarter Above Estimates
Wednesday, June 01, 2011 4:01:09 PM ET
View: Complete Article | Historical Guidance

Vera Bradley, Inc. (VRA) said it expects second quarter earnings of $0.27 to $0.29 per share on revenue of $95.0 million to $98.0 million. The current consensus earnings estimate is $0.26 per share on revenue of $94.9 million for the quarter ending July 31, 2011. The company said it expects fiscal year earnings of $1.27 to $1.30 per share on revenue of $430.0 million to $435.0 million. The current consensus earnings estimate is $1.28 per share on revenue of $433.7 million for the year ending January 31, 2012.

Colfax Raises Guidance to be In-line with Estimates
Wednesday, June 01, 2011 6:05:00 AM ET
View: Complete Article | Historical Guidance

Colfax Corp (CFX) said it expects 2011 earnings of $1.12 to $1.22 per share. The company's previous guidance was earnings of $1.00 to $1.10 per share and the current consensus earnings estimate is $1.19 per share for the year ending December 31, 2011.

Source: Earnings Whispers

Just Another Day At The Stock Market

2011-06-01T13:05:00.000-07:00

Watch List: GMCR, LDK, LNKD, BMTI, LNG, AMRN,

2011-05-27T13:15:00.000-07:00

LDK Reversal Chart

2011-05-27T01:01:00.000-07:00

Market News: Sony, Goldman Sachs, UBS, Shell....

2011-05-26T17:30:00.000-07:00

Sony forecasts net profit for FY 2012. Sony (SNE) has predicted it will swing to a net profit of ¥80B ($975M) in FY 2012 (.pdf) after three years of losses, although the company's outlook is less than analyst forecasts of ¥105B. Even so, some think Sony could be too ambitious, with one economist saying that "there's a lot of uncertainty and there is a risk they will come in below that expectation." Sony is battling to recover from the damage caused by the March earthquake, while the hacking of its PlayStation Network and other Web sites will hit operating profit by ¥14B this year. Sony gave the forecast along with its results for FY 2011, which it flagged earlier this week. Net losses widened to ¥259.6B from ¥40.8B in 2010 as revenue slipped 0.5% to ¥7.18T.
More details emerge of massive Fed loans during crisis. Credit Suisse (CS), Goldman Sachs, (GS) and Royal Bank of Scotland (RBS) each borrowed at least $30B in 2008 from a Fed emergency lending scheme called single-tranche open-market operations (ST OMO). Under the program, details of which are just emerging, the Fed made 28-day loans to 20 banks from March through December, with rates in the latter months as low as 0.01%. While a former senior Atlanta Fed official called the loans a 'pure subsidy,' a spokesman for Bank of America (BAC) defended them for providing liquidity and stabilizing the financial system. The ST OMO was in addition to the massive loans the Fed made via its discount window.
Fitch, S&P less pessimistic on possible impact of Greek default. In contrast to Moody's warnings about the effect of a Greek debt restructure on other European countries, Fitch and S&P seem less gloomy. Fitch said even a 50% haircut for bondholders would not deplete enough capital at German banks to cause a ratings change. “The worst consequence...for German and other European banks would be a sharp increase in general capital market and creditor risk aversion,” Fitch said. S&P said a Greek restructuring would not trigger a chain reaction resulting in the automatic downgrade of Ireland. And while the ECB has been firmly against Greece defaulting, the bank's rules leave more scope for a restructuring than its rhetoric suggests.
Battered Libya sues for peace. Libyan Prime Minister Al-Baghdadi al-Mahmoudi has reportedly sent a letter to several foreign governments proposing an immediate ceasefire, unconditional talks with the opposition, amnesty for both sides in the conflict, and the drafting of a new constitution. Unusually, Mahmoudi's letter doesn't mention Muammar Gaddafi's role in the country's future. Separately, the anti-corruption group Global Witness says it has obtained a document (.pdf) that outlines the involvement of Western firms in the finances of Colonel Gaddafi's regime. The largest Western holder of Libyan cash as of last June was HSBC (HBC) with nearly $300M, followed by Goldman Sachs (GS) with $43M. The Libyans also held nearly $1B in U.S. Treasurys and had invested $1B with Societe Generale.
UBS intends to separate key investment bank arm. UBS (UBS) is planning to separate its investment bank division, which accounted for 44% of its Q1 2011 revenues, into its own legal entity and incorporate it in London, New York or Singapore, sources said. The move is aimed at placating Swiss regulators who want to prevent another rescue of UBS such as the one in 2008, when its investment arm lost billions of dollars during the financial crisis. The authorities hope the changes would mean the parent company wouldn't be liable for huge losses if the investment bank encountered problems, although it's unclear whether this would be the case.
Ricoh to cut 10,000 jobs. Ricoh (RICOF.PK) plans to slash 10,000 jobs, or almost 10% of its workforce, over the next three years in a move aimed at enabling the Japanese copier and printer maker to reverse a slide in sales and compete with rivals such as Xerox (XRX) and Canon (CAJ). The company expects the restructuring, which also includes axing products and consolidating factories, to cost ¥60B ($733M) by the next fiscal year. However, the scheme is also intended to boost operating profit by ¥140B within three years from ¥60.2B in the last fiscal year. Ricoh's program, along with restructuring at Panasonic and Olympus, could herald a wave of cost-cutting by underperforming Japanese companies, especially following the damage caused by the March earthquake.
Freescale raises $783M in disappointing IPO. The glow surrounding IPOs for Internet companies is not extending to everybody, with Freescale Semiconductor (FSL) raising a less-than-expected $783M at a market cap of $4.3B. The company sold 43.5M shares for $18 each, well below an initial range of $22-$24. A reason for the tepid offering is Freescale's $7.5B debt, left over from when Blackstone (BX) and other P-E firms took the company private in 2006 for $17.6B. Freescale is due to debut today on the NYSE. Meanwhile, Delphi Automotive, GM's (GM) former parts unit, has filed for an IPO of $100M, although it may eventually raise over $1B, a source said. Oil and natural gas company SandRidge Permian has registered to raise up to $720.9M.
Shell looks to muscle in on Arctic project. Shell (RDS.A) CEO Peter Voser has held talks with Russian energy czar Igor Sechin and Rosneft CEO Eduard Khudainatov about exploring the Arctic. The meeting comes just several days after an Arctic exploration and $16B share swap deal between Rosneft and BP (BP) collapsed due to the opposition of the latter's partners in its TNK-BP Russian joint venture. While industry experts agree that BP has the best technology and experience in deepwater drilling in extreme conditions, such as in the Arctic, Rosneft has anyway opened discussions with other companies since the stalling of the BP deal. These include Chevron (CVX) and Exxon Mobil (XOM) as well as Shell.
Heinz reports record annual earnings. Heinz's (HNZ) FY 2011 net income rose 14% to a record $990M as sales edged up 2% to $10.7B, also a best ever. The company has raised its long-term EPS outlook to a range of 7%-10% from 6%-9% and said it will increase its annualized dividend by $0.12 to $1.92 a share.
Foreclosure sales tick higher. Sales of homes in foreclosure rose to 28% of all home sales in Q1, nearly six-times as much as in a typical healthy housing market. "It's an astronomically high number," RealtyTrac's Rick Sharga said, though it is down from a peak of 37.4% in 2009. The inventory of foreclosed homes will likely depress housing prices for several years, which may be a blessing in disguise if it accelerates the race to the bottom.
Maple goes hostile in TMX bid. The London Stock Exchange (LDNXF.PK) and TMX Group (TMXGF.PK), the operator of the Toronto Stock Exchange, face a battle to complete their $3B merger after a group of Canadian banks and insurance companies went hostile with their $3.7B counter-offer for TMX late yesterday. The move by the consortium, called Maple, came after TMX and the LSE earlier in the day said their shareholders would vote on the deal on June 30. Maple hopes to use patriotic sentiment to keep TMX in Canadian hands, while failure for the LSE could see it open to takeovers.

Source: Seeking Alpha

Top Small Cap Gainers: Clean Diesel Tech, Kimber Resources....

2011-05-26T17:28:00.001-07:00

No.	Ticker	Company	Industry	Market Cap	RSI	Price	Change	Volume
1	CDTI	Clean Diesel Technologies Inc.	Chemicals - Major Diversified	30.32M	73.36	7.60	94.87%	4,475,141
2	KBX	Kimber Resources Inc.	Gold	134.28M	65.09	1.74	41.46%	1,030,549
3	TRMS	Trimeris Inc.	Biotechnology	63.84M	72.81	2.85	14.92%	707,898
4	KKD	Krispy Kreme Doughnuts, Inc.	Restaurants	598.90M	78.35	8.87	12.71%	4,860,864
5	RXII	RXi Pharmaceuticals Corporation	Biotechnology	20.02M	61.13	1.09	12.37%	3,882,819
6	ACHN	Achillion Pharmaceuticals, Inc.	Biotechnology	396.02M	64.66	6.78	11.33%	1,333,118
7	EGHT	8x8 Inc.	Communication Equipment	221.04M	71.69	3.54	10.62%	3,298,226
8	IMOS	ChipMOS TECHNOLOGIES (Bermuda) LTD.	Semiconductor Equipment & Materials	270.50M	77.89	9.79	10.62%	358,166
9	ZAGG	ZAGG Incorporated	Specialty Retail, Other	242.60M	61.63	9.91	10.48%	2,188,427
10	DYAX	Dyax Corp.	Biotechnology	206.30M	64.38	2.09	10.00%	1,806,313
11	CRYP	CryptoLogic Limited	Business Software & Services	23.88M	63.55	1.85	8.82%	536,290
12	WOLF	Great Wolf Resorts, Inc.	Resorts & Casinos	97.57M	69.15	3.01	8.09%	533,472
13	PAET	PAETEC Holding Corp.	Diversified Communication Services	631.10M	70.27	4.35	7.94%	1,266,503
14	DRL	Doral Financial Corp.	Mortgage Investment	249.49M	75.28	1.96	7.10%	1,571,301

Top Small Cap Gainers: As Dow Sets New Highs

2011-04-26T13:21:00.000-07:00

No.	Ticker	Company	Industry	Market Cap	Price	Change	Volume
1	KUTV	Ku6 Media Co., Ltd.	Entertainment - Diversified	194.50M	6.56	17.77%	4,072,382
2	HSTM	Healthstream Inc.	Internet Information Providers	180.70M	9.60	16.50%	416,741
3	PRGX	PRGX Global, Inc.	Business Services	160.01M	7.69	15.29%	431,236
4	VICL	Vical Inc.	Biotechnology	233.03M	3.69	13.54%	2,567,593
5	SMOD	SMART Modular Technologies (WWH) Inc.	Semiconductor - Integrated Circuits	519.27M	9.27	13.33%	22,910,524
6	WEBM	WebMediaBrands Inc	Information & Delivery Services	55.07M	1.64	13.10%	1,206,585
7	USAT	USA Technologies Inc.	Business Services	75.17M	3.20	10.73%	6,575,549
8	VITA	Orthovita Inc.	Medical Instruments & Supplies	170.72M	2.43	9.46%	782,252
9	AEZS	AEterna Zentaris Inc. (USA)	Biotechnology	183.76M	2.33	9.39%	6,690,431
10	RMTR	Ramtron International Corp.	Semiconductor- Memory Chips	82.72M	3.21	8.81%	799,265
11	ZLCS	Zalicus Inc.	Biotechnology	250.17M	3.05	8.54%	3,019,161
12	HNSN	Hansen Medical, Inc.	Medical Appliances & Equipment	188.65M	3.76	8.05%	3,890,575
13	IMRS	IMRIS, Inc.	Medical Instruments & Supplies	353.67M	8.62	8.02%	601,212
14	CRIS	Curis Inc.	Biotechnology	309.22M	4.35	7.41%	2,162,021
15	XG	Extorre Gold Mines Ltd. Ordinar	Gold	771.32M	9.46	7.38%	582,038

Market News: Lawson, Ford, Netflix, UBS, Amazon…

2011-04-26T12:03:00.001-07:00

Lawson to be sold for $2B. GGC Software Holdings, an affiliate of Golden Gate Capital and Infor, has agreed to buy Lawson Software (LWSN) for around $2B, or $11.25 a share. This is below Lawson's closing price yesterday of $12.12. The deal comes after Lawson received an offer from Golden Gate and Infor earlier this year and looked for alternative buyers, but didn't receive a superior proposal.
Ford has best Q1 in 13 years. Ford's (F) Q1 2011 net profit increased to $0.61 per share from $0.50 a year earlier in its best first-quarter performance since 1998. Ford's revenues rose 18% to $33.1B, helped by sales in new vehicles such as the Explorer. The company was profitable in all regions even as commodity costs rose. Ford ended the quarter with $16.6B in debt, down $2.5B from the beginning of the year. Premarket: F +3% (7:20 ET).
Netflix tumbles on disappointing outlook. Netflix (NFLX) shares slumped 5.3% in post-market trading after the movie-rental company said that increased streaming costs would hit Q2 2011 earnings. The firm forecast EPS of $0.93-$1.15, below analyst predictions of $1.18. In the longer term, Netflix expects 2012 streaming expenses to jump to $1.6B-$2.2B from $700M this year. The market disappointment came despite Q1 net EPS almost doubling to $1.11 from $0.59 a year earlier and revenue surging 46% to $718.6M. The number of subscribers grew 69% to 23.6M, taking Netflix past Comcast (CMCSA) and putting it in second place behind HBO (TWX) with 28.6M. (Earnings call transcript)
UBS soars despite Q1 profit fall. UBS (UBS) shares are +7.2% premarket despite the Swiss bank reporting that Q1 2011 net profit tumbled to 1.81B Swiss francs ($2.06B) from 2.2B francs a year earlier and that revenue fell 7% to 8.34B francs due to lower income from trading and fees. However, investors are encouraged by earnings beating expectations and total net new money at UBS’s core wealth-management business rebounding to 11.1B francs from an outflow of 8B francs a year earlier and a flat performance in Q4 2010. It was the strongest inflow of cash since the final quarter of 2007. UBS CEO Oswald Gruebel attributed the increase in new funds to "the return of client trust and confidence" after customers withdrew 251.6B francs in the nine quarters through June.
Amazon Q1 profit seen down due to investment. Analysts expect Amazon (AMZN) to today report that Q1 2011 net EPS fell to $0.61 from $0.66 a year earlier despite a 33% increase in revenue to $9.51B. The predicted disparity is because Amazon has been spending heavily in building its cloud computing infrastructure, and investing in new distribution centers to cement its position as the world's largest online retailer. Analysts believe Amazon's sales growth justifies the short-term hit to profitability, with one saying the company "will ultimately benefit." Amazon's earnings come a day after it said that all its servers were up and running after technical problems last week took down some websites that use its cloud computing services, including Foursquare.
Sony probing whether customer data accessed. Sony (SNE) is investigating whether customer data was accessed after intruders hacked into its PlayStation Network and Qriocity online services, which have been suspended since last week. The company doesn't know when it will resume the services, and won't do so until it has learnt the "full details of what happened and what caused the trouble." The disruption has prevented 75M PlayStation 3 users from logging on to play games and watch films, while music streaming has also been halted. Separately, Sony has unveiled tablet computers that use Google's (GOOG) Android operating system as it looks to grab share in a market that Apple's (AAPL) iPad dominates. Other companies to launch tablets include RIM (RIMM), Samsung Electronics (SSNLF.PK), Motorola (MMI) and HP (HPQ). Sony's devices will go on sale in the fall.
GOP's Boehner open to repealing oil tax breaks. Republican House Speaker John Boehner is open to President Obama's idea of cutting multi-billion dollar tax breaks and subsidies for oil companies. "It's certainly something we should be looking at," Boehner said in an ABC News interview. "We're in a time when the federal government's short on revenues. They ought to be paying their fair share." However, he also said he wants to 'see all the facts' first. Boehner's comments, which come at a time of soaring gasoline prices, signal a departure from the GOP's traditional defense of tax breaks as a way to encourage domestic oil production. Regarding the budget, the speaker said it would be "responsible to increase the debt limit," although this must be accompanied by significant spending cuts.
Financing shortfalls increase in state pension plans. Funding gaps in some state pension plans widened in fiscal 2010, a new study from the Pew Center on the States indicates. Data from 16 states shows they had 75% of the assets needed to cover the long-term benefits owed to government workers, down from 77% in 2009. The wider gaps were driven by states continuing to book big losses from the 2008 financial crisis, although strong investment returns in fiscal 2010 prevented the situation from deteriorating further. In fiscal 2009, the latest year for which full data is available, states were $1.26T short of the amount they needed to pay out in the long term, an increase of 26%. Growing unfunded pension liabilities, along with daunting state budget gaps, are a major worry for rating agencies and investors in the $2.9T municipal bond market, especially as states use borrowing to help pay their obligations.
China Minmetals scraps Equinox bid. China's Minmetals Resources today bowed out of the battle for Canadian copper miner Equinox Minerals (EQXMF.PK) after Barrick Gold (ABX) yesterday made an offer of C$7.3B ($7.68B), topping Minmetals' C$6.3B bid. Shares in Barrick, the world's largest gold miner, are +1.2% premarket after dropping 6.8% yesterday as investors questioned whether it was overpaying for Equinox and whether a move into copper would make the stock less attractive to those seeking exposure to gold prices. However, Barrick CEO Aaron Regent sees the Equinox bid as an opportunity to gain access to the Zambian copper belt at a time of high prices.
Saudi Arabia uneasy about oil prices. Saudi Arabia is 'not comfortable' with the cost of oil and will maintain spare production capacity to stabilize the market, Khalid al-Falih, the CEO of state-owned Saudi Arabian Oil, said today. The world's largest oil exporter is committed to keeping a 'sizable cushion' of 3M-4M barrels a day of idle capacity, he said. Oil has soared 32% in New York since the uprising in Libya began in mid-February and led to a cut in the country's output. Saudi Arabia has raised its production to make up for the shortfall. At 6:40 ET, oil was -0.1% at $112.16.
Greek deficit exceeds forecasts. Greece's budget deficit in 2010 was 10.5% of GDP, significantly higher than estimated by either the Greek government or the EU. The latter had calculated a figure of 9.6% for 2010 and forecast the deficit would be 7.6% at the end of this year. The new number will add further pressure on Greece to cut its deficit to meet targets set under the EU-IMF rescue program. Greece's total government debt was 142.8% of GDP at the end of 2010, the highest level in the EU. At the weekend, Portugal revised up its 2010 deficit to 9.1% from 8.6%.

Source: SeekingAlpha

Earnings Report: Local.com, Gartner, Veeco Instruments, Humana, Glu Mobile

2011-02-07T17:00:00.000-08:00

Inline Guidance

FMC Sees First Quarter Below Estimates; 2011 In-line
Monday, February 07, 2011 5:55:00 PM ET
View: Complete Article | Historical Guidance

FMC Corp. (FMC) said it expects first quarter earnings of $1.35 to $1.50 per share and 2011 earnings of $5.35 to $5.75 per share. The current consensus earnings estimate is $1.55 per share for the quarter ending March 31, 2011 and $5.55 per share for the year ending December 31, 2011.

BRE Properties Affirms FFO Forecasts
Monday, February 07, 2011 4:45:00 PM ET
View: Complete Article | Historical Guidance

BRE Properties Inc. (BRE) said it expects 2011 funds from operations of $2.06 to $2.18 per share. The current consensus FFO estimate is $2.08 per share for the year ending December 31, 2011.

Advent Software Sees 2011 Revenue In-line
Monday, February 07, 2011 4:15:38 PM ET
View: Complete Article | Historical Guidance

Advent Software Inc. (ADVS) said it expects first quarter revenue of $74.0 million to $76.0 million and 2011 revenue of $307.0 million to $314.0 million. The current consensus estimate is revenue of $73.8 million for the quarter ending March 31, 2011 and revenue of $311.3 million for the year ending December 31, 2011.

Local.com Provides Mixed Guidance
Monday, February 07, 2011 4:15:02 PM ET
View: Complete Article | Historical Guidance

Local.com Corp (LOCM) said it expects first quarter results to be approximately breakeven with revenue of approximately $16.0 million. The current consensus earnings estimate is $0.10 per share on revenue of $17.5 million for the quarter ending March 31, 2011. The company said it expects 2011 revenue of approximately $85.0 million. The current consensus estimate is revenue of $71.4 million for the year ending December 31, 2011.

Gartner Guides In-line
Monday, February 07, 2011 4:15:01 PM ET
View: Complete Article | Historical Guidance

Gartner, Inc. (IT) said it expects 2011 earnings of $1.29 to $1.41 per share on revenue of $1.43 billion to $1.48 billion. The current consensus earnings estimate is $1.36 per share on revenue of $1.46 billion for the year ending December 31, 2011.

Horace Mann Educators Guides In-line
Monday, February 07, 2011 4:15:00 PM ET
View: Complete Article | Historical Guidance

Horace Mann Educators Corp. (HMN) said it expects 2011 earnings of $1.75 to $1.95 per share. The current consensus earnings estimate is $1.87 per share for the year ending December 31, 2011.

Veeco Instruments Provides Mixed Guidance
Monday, February 07, 2011 4:05:02 PM ET
View: Complete Article | Historical Guidance

Veeco Instruments Inc. (VECO) said it expects first quarter earnings of $1.02 to $1.39 per share on revenue of $215.0 million to $265.0 million. The current consensus earnings estimate is $1.47 per share on revenue of $294.4 million for the quarter ending March 31, 2011. The company also said it expects 2011 earnings of more than $5.00 per share on revenue of more than $1.00 billion. The current consensus earnings estimate is $5.04 per share on revenue of $1.09 billion for the year ending December 31, 2011.

Luminex Guides In-line
Monday, February 07, 2011 4:05:00 PM ET
View: Complete Article | Historical Guidance

Luminex Corp. (LMNX) said it expects 2011 revenue of $163.0 million to $170.0 million. The current consensus estimate is revenue of $166.9 million for the year ending December 31, 2011.

UDR Guides In-line
Monday, February 07, 2011 4:04:03 PM ET
View: Complete Article | Historical Guidance

UDR, Inc (UDR) said it expects 2011 funds from operations of $1.20 to $1.25 per share. The current consensus FFO estimate is $1.21 per share for the year ending December 31, 2011.

Becton, Dickinson Reaffirms
Monday, February 07, 2011 4:04:00 PM ET
View: Complete Article | Historical Guidance

Becton, Dickinson & Co. (BDX) said it continues to expect fiscal 2011 earnings of $5.45 to $5.55 per share. The current consensus earnings estimate is $5.52 per share for the year ending September 30, 2011.

Endwave Reaffirms
Monday, February 07, 2011 8:00:13 AM ET
View: Complete Article | Historical Guidance

Endwave Corp. (ENWV) said it continues to expect fourth quarter revenue of approximately $4.10 million. The current consensus estimate is revenue of $4.11 million for the quarter ending December 31, 2010.

Matrix Service Narrows Guidance
Monday, February 07, 2011 8:00:00 AM ET
View: Complete Article | Historical Guidance

Matrix Service Company (MTRX)said it now expects 2011 earnings of $0.60 to $0.75 per share. The company's previous guidance was for earnings of $0.60 to $0.80 per share and the current consensus earnings estimate is $0.70 per share for the year ending June 30, 2011.

TransDigm Raises Guidance, but Remains In-line with Estimates
Monday, February 07, 2011 7:30:00 AM ET
View: Complete Article | Historical Guidance

TransDigm Group Inc. (TDG) said it now expects fiscal 2011 non-GAAP earnings of $3.70 to $4.09 per share on revenue of $1.193 billion to $1.225 billion. The company's previous guidance was for earnings of $3.48 to $3.90 per share on revenue of $1.16 billion to $1.22 billion and the current consensus earnings estimate is $3.78 per share on revenue of $1.21 billion for the year ending September 30, 2011.

Humana Raises Guidance to be Closer to Estimates
Monday, February 07, 2011 6:00:02 AM ET
View: Complete Article | Historical Guidance

Humana, Inc. (HUM) said it expects 2011 earnings of $5.70 to $5.90 per share. The company's previous guidance was for earnings of $5.45 to $5.65 per share and the current consensus earnings estimate is $5.94 per share for the year ending December 31, 2011.

Cognizant Technology Sees Revenue Above Estimates
Monday, February 07, 2011 6:00:00 AM ET
View: Complete Article | Historical Guidance

Cognizant Technology Solutions Corp. (CTSH) said it expects first quarter earnings of approximately $0.63 per share, including stock-option expense, on revenue of at least $1.36 billion. The current consensus earnings estimate is $0.63 per share on revenue of $1.31 billion for the quarter ending March 31, 2011. The company also said it expects 2011 earnings of approximately $2.68 per share, including stock-option expense, on revenue of at least $5.79 billion. The current consensus earnings estimate is $2.69 per share on revenue of $5.74 billion for the year ending December 31, 2011.

Negative Guidance
Glu Mobile Guides Below Estimates
Monday, February 07, 2011 4:05:03 PM ET
View: Complete Article | Historical Guidance

Glu Mobile Inc. (GLUU) said it expects a first quarter non-GAAP loss of approximately $0.07 per share on revenue of $14.0 million to $14.5 million. The current consensus estimate is a loss of $0.05 per share on revenue of $14.6 million for the quarter ending March 31, 2011.

Black Diamond Provides Revenue Guidance
Monday, February 07, 2011 4:01:00 PM ET
View: Complete Article | Historical Guidance

Black Diamond, Inc. (BDE) said it expects 2011 revenue of $135.0 million to $140.0 million. The current consensus estimate is revenue of $141.5 million for the year ending December 31, 2011.

Earnings News: Nvidia, Sunpower, Avid Technology, Meridian Bioscience, Agilent, J.C.Penney, California Pizza Kitchen

2010-11-12T23:37:00.000-08:00

Positive Guidance

NVIDIA Sees Revenue Above Estimates
Thursday, November 11, 2010 4:23:49 PM ET
View: Complete Article | Historical Guidance

NVIDIA Corp. (NVDA) said it expects fourth quarter revenue of $869.2 million to $886.1 million. The current consensus estimate is revenue of $866.1 million for the quarter ending January 31, 2011.

MagneTek Sees Second Quarter Revenue Above Estimates
Thursday, November 11, 2010 8:45:01 AM ET
View: Complete Article | Historical Guidance

MagneTek, Inc. (MAG) said it expects fiscal second quarter revenue to be slightly above $24.9 million. The current consensus estimate is revenue of $24.5 million for the quarter ending December 31, 2010.

China Real Estate Information Guides Revenue Above Estimates
Thursday, November 11, 2010 6:07:00 AM ET
View: Complete Article | Historical Guidance

China Real Estate Information Corporation (CRIC) said it expects fourth quarter revenue of $56.0 million to $58.0 million. The current consensus estimate is revenue of $54.0 million for the quarter ending December 31, 2010.

SinoHub Ups Guidance
Friday, November 12, 2010 8:00:00 AM ET
View: Complete Article | Historical Guidance

SinoHub, Inc. (SIHI) said it expects 2010 revenue of approximately $192.0 million. The company's previous guidance was revenue of approximately $180.0 million and the current consensus estimate is revenue of $186.3 million for the year ending December 31, 2010.

Inline Guidance

Sunpower Guides In-line
Thursday, November 11, 2010 4:05:00 PM ET
View: Complete Article | Historical Guidance

Sunpower Corp (SPWRA) said it expects fourth quarter non-GAAP earnings of $0.95 to $1.15 per share on revenue of $870.0 million to $970.0 million. The current consensus earnings estimate is $1.10 per share on revenue of $935.6 million for the quarter ending December 31, 2010.

Cumberland Pharmaceuticals Raises Guidance, but Remains In-line with Estimates
Thursday, November 11, 2010 4:05:00 PM ET
View: Complete Article | Historical Guidance

Cumberland Pharmaceuticals, Inc. (CPIX) said it expects 2010 revenue of $43.0 million to $45.0 million. The company's previous guidance was revenue of $42.0 million to $43.0 million and the current consensus estimate is revenue of $43.1 million for the year ending December 31, 2010.

Microsemi Guides In-line
Thursday, November 11, 2010 4:00:27 PM ET
View: Complete Article | Historical Guidance

Microsemi Corp. (MSCC) said it expects first quarter non-GAAP earnings of $0.36 to $0.39 per share. The current consensus earnings estimate is $0.37 per share for the quarter ending December 31, 2010.

Avid Technology Guides In-line
Thursday, November 11, 2010 1:15:19 PM ET
View: Complete Article | Historical Guidance

Avid Technology, Inc. (AVID) said it expects 2010 revenue of $655.0 million to $665.0 million. The current consensus estimate is revenue of $664.7 million for the year ending December 31, 2010. The company said it expects 2011 revenue of $690.0 million to $710.0 million. The current consensus estimate is revenue of $693.6 million for the year ending December 31, 2011.

CPI Aerostructures Provides Revenue Guidance
Thursday, November 11, 2010 8:45:00 AM ET
View: Complete Article | Historical Guidance

CPI Aerostructures, Inc. (CVU) said it continues to expect 2010 revenue of $49.0 million to $51.0 million and 2011 revenue of $78.0 million to $81.0 million. The current consensus estimate is revenue of $50.5 million for the year ending December 31, 2010 and revenue of $79.2 million for the year ending December 31, 2011. The also said it expects 2012 revenue of $88.0 million to $91.0 million.

Meridian Bioscience Guides In-line
Thursday, November 11, 2010 7:30:01 AM ET
View: Complete Article | Historical Guidance

Meridian Bioscience Inc. (VIVO) said it expects fiscal 2011 earnings of $0.77 to $0.82 per share on revenue of $165.0 million to $170.0 million. The current consensus earnings estimate is $0.81 per share on revenue of $169.2 million for the year ending September 30, 2011.

Flowers Foods Narrows Guidance
Thursday, November 11, 2010 7:30:00 AM ET
View: Complete Article | Historical Guidance

Flowers Foods Inc. (FLO) said it expects 2010 earnings of $1.55 to $1.58 per share. The company's previous guidance was earnings of $1.55 to $1.62 per share and the current consensus earnings estimate is $1.55 per sharefor the year ending December 31, 2010.

MAXIMUS Guides Revenue Below Estimates
Thursday, November 11, 2010 6:30:00 AM ET
View: Complete Article | Historical Guidance

MAXIMUS, Inc. (MMS) said it expects fiscal 2011 earnings of $3.95 to $4.15 per share on revenue of $890.0 million to $920.0 million. The current consensus earnings estimate is $3.99 per share on revenue of $924.5 million for the year ending September 30, 2011.

China Pharma Reaffirms
Thursday, November 11, 2010 3:19:00 AM ET
View: Complete Article | Historical Guidance

China Pharma Holdings, Inc. (CPHI) said it continues to expect 2010 revenue of $74.0 million to $77.1 million. The current consensus estimate is revenue of $74.3 million for the year ending December 31, 2010.

Agilent Technologies Sees First Quarter Above Estimates; 2011 In-line
Friday, November 12, 2010 8:00:04 AM ET
View: Complete Article | Historical Guidance

Agilent Technologies, Inc. (A) said it expects first quarter earnings of $0.55 to $0.57 per share on revenue of $1.53 billion to $1.55 billion. The current consensus earnings estimate is $0.53 per share on revenue of $1.47 billion for the quarter ending January 31, 2011. The company said it expects 2011 earnings of $2.30 to $2.50 per share on revenue of $6.10 billion to $6.30 billion. The current consensus earnings estimate is $2.37 per share on revenue of $6.10 billion for the year ending October 31, 2011.

STR Holdings Guides Revenue Above Estimates
Friday, November 12, 2010 8:00:02 AM ET
View: Complete Article | Historical Guidance

STR Holdings, Inc. (STRI) said it expects fourth quarter non-GAAP earnings of $0.34 to $0.38 per share on revenue of $96.0 million to $100.0 million. The current consensus earnings estimate is $0.35 per share on revenue of $89.5 million for the quarter ending December 31, 2010.

J.C. Penney Guides In-line
Friday, November 12, 2010 7:50:00 AM ET
View: Complete Article | Historical Guidance

J.C. Penney Co., Inc. (JCP) said it expects fourth quarter earnings of $0.90 to $1.00 per share. The current consensus earnings estimate is $0.94 per share for the quarter ending January 31, 2011.

China TransInfo Technology Reaffirms
Friday, November 12, 2010 6:00:00 AM ET
View: Complete Article | Historical Guidance

China TransInfo Technology Corp (CTFO) said it continues to expect 2010 revenue of approximately $120.0 million. The current consensus estimate is revenue of $121.0 million for the year ending December 31, 2010.

Negative Guidance

DynaVox Guides Below Estimates
Thursday, November 11, 2010 4:25:44 PM ET
View: Complete Article | Historical Guidance

DynaVox Inc (DVOX) said it now expects fiscal 2011 earnings of $0.21 to $0.27 per share on revenue of $97.2 million to $102.9 million. The company had previously withdrawn its guidance for earnings of $0.56 to $0.62 per share. The current consensus earnings estimate is $0.47 per share on revenue of $121.2 million for the year ending June 30, 2011.

California Pizza Kitchen Sees Earnings Below Estimates
Thursday, November 11, 2010 4:05:01 PM ET
View: Complete Article | Historical Guidance

California Pizza Kitchen, Inc. (CPKI) said it expects fourth quarter earnings of $0.05 to $0.07 per share, excluding a one-time item of $0.06 per share. The current consensus earnings estimate is $0.15 per share for the quarter ending December 31, 2010.

Rainmaker Systems Sees Revenue Below Estimates
Thursday, November 11, 2010 4:05:00 PM ET
View: Complete Article | Historical Guidance

Rainmaker Systems, Inc. (RMKR) said it expects 2010 revenue of approximately $44.0 million. The current consensus estimate is revenue of $46.0 million for the year ending December 31, 2010.

Accretive Health Guides Below Estimates
Thursday, November 11, 2010 7:45:03 AM ET
View: Complete Article | Historical Guidance

Accretive Health (AH) said it expects 2010 revenue of $595.0 million to $607.0 million. The current consensus estimate is revenue of $639.3 million for the year ending December 31, 2010.

Tower Semi Sees Revenue Below Estimates
Thursday, November 11, 2010 2:30:00 AM ET
View: Complete Article | Historical Guidance

Tower Semiconductor Ltd. (TSEM) said it expects fourth quarter revenue of $133.0 million to $137.0 million. The current consensus estimate is revenue of $138.5 million for the quarter ending December 31, 2010.

Source: EarningWhisper

IPO Scorecard: Update On Selected Initial Stock Offerings

2010-11-12T16:24:00.000-08:00

Company Symbol Percent Current Offer Date
MakeMyTrip Ltd MMYT 178% $38.88 $14.00 8-Aug-10
Vera Bradley Inc. VRA 80% $28.85 $16.00 21-Oct-10
IntraLinks Holdings Inc. IL 58% $20.50 $13.00 6-Aug-10
SodaStream Intl ltd SODA 51% $30.15 $20.00 2-Nov-10
Daqo New Energy Corp. DQ 49% $14.16 $9.50 7-Oct-10
Fresh Market Inc. TFM 49% $32.74 $22.00 4-Nov-10
Ambow Education Holding Ltd AMBO 31% $13.06 $10.00 5-Aug-10
KEYW Holding KEYW 27% $12.67 $10.00 30-Sep-10
Amyris Biotechnologies Inc. AMRS 23% $19.75 $16.00 28-Aug-10
SeaCube Container Leasing BOX 18% $11.75 $10.00 27-Oct-10
Rhino Resources RNO 17% $24.03 $20.50 29-Sep-10
SciQuest Inc. SQI 15% $12.25 $9.50 23-Aug-10
RealPage Inc. RP 15% $30.20 $11.00 8-Aug-10
MediaMind Technologies Inc MDMD 10% $12.09 $11.00 8-Aug-10
Primo Water Corp. PRMW 8% $13.00 $12.00 4-Nov-10
Tower International Inc. TOWR 8% $13.98 $13.00 14-Oct-10
Body Central Corp. BODY 2% $13.30 $13.00 14-Oct-10
Cazador Acquisition CAZAU 0% $9.98 $10.00 7-Oct-10
Aegerion Pharmaceuticals AEGR 0% $9.48 $9.50 22-Oct-10
Ellingtion Financial EFC -2% $22.04 $22.50 7-Oct-10
Campus Crest Communities Inc. CCG -3% $12.10 $12.50 13-Oct-10
NXP Semiconductors N.V. NXPI -8% $12.86 $14.00 5-Aug-10
Horizon Technology Finance Corp. HRZN -9% $14.50 $16.00 28-Oct-10
Regeneron Pharmaceutical Inc. REGN -10% $25.09 $28.00 8-Oct-10
Costamare Inc. CMRE -11% $10.73 $12.00 3-Nov-10
Genomics GNOM -18% $7.34 $9.00 11-Nov-10
Pacific Bioscience of California Inc. PACB -25% $12.01 $16.00 26-Oct-10
Trius Therapeutics Inc. TSRX -36% $3.20 $5.00 4-Aug-10
NuPathe Inc. PATH -45% $5.55 $10.00 6-Aug-10

Earnings News: Home Inns, WidePoint, Kohl's, SmartHeat, Macy's, Cisco

2010-11-11T13:59:00.000-08:00

Positive Guidance

Home Inns Guides Revenue Above Estimates
Wednesday, November 10, 2010 5:00:00 PM ET
View: Complete Article | Historical Guidance

Home Inns & Hotels Management Inc (HMIN) said it expects fourth quarter revenue of $118.8 million to $121.8 million. The current consensus estimate is revenue of $117.1 million for the quarter ending December 31, 2010.

WidePoint Sees Revenue Above Estimates
Wednesday, November 10, 2010 4:12:00 PM ET
View: Complete Article | Historical Guidance

WidePoint Corp. (WYY) said it expects 2010 revenue of $50.7 million to $52.9 million. The current consensus estimate is revenue of $50.0 million for the year ending December 31, 2010.

Deer Consumer Products Ups Guidance
Wednesday, November 10, 2010 6:55:00 AM ET
View: Complete Article | Historical Guidance

Deer Consumer Products, Inc. (DEER) said it now expects 2010 earnings of approximately $0.87 per share on revenue of approximately $172.0 million. The company's previous guidance was for earnings of $0.76 per share on revenue of $160.0 million and the current consensus earnings estimate is $0.77 per share on revenue of $160.9 million for the year ending December 31, 2010.

Inline Guidance

Kohl's Guides In-line
Wednesday, November 10, 2010 5:23:00 PM ET
View: Complete Article | Historical Guidance

Kohl's (KSS) said it expects fourth quarter earnings of $1.51 to $1.59 per share. The current consensus earnings estimate is $1.57 per share for the quarter ending January 31, 2011.

SmartHeat Raises Guidance to be In-line with Estimates
Wednesday, November 10, 2010 5:00:00 PM ET
View: Complete Article | Historical Guidance

SmartHeat, Inc. (HEAT) said it expects 2010 revenue of $110.0 million to $120.0 million. The company's previous guidance was revenue of $106.0 million to $116.0 million and the current consensus estimate is revenue of $117.1 million for the year ending December 31, 2010. The company said it expects 2011 revenue of $135.0 million to $160.0 million. The current consensus estimate is revenue of $154.5 million for the year ending December 31, 2011.

Tetra Tech Guides In-line
Wednesday, November 10, 2010 4:54:00 PM ET
View: Complete Article | Historical Guidance

Tetra Tech Inc. (TTEK) said it expects first quarter earnings of $0.31 to $0.33 per share on revenue of $380.0 million to $410.0 million. The current consensus earnings estimate is $0.32 per share on revenue of $381.2 million for the quarter ending December 31, 2010. The company said it expects 2011 earnings of $1.28 to $1.40 per share on revenue of $1.60 billion to $1.70 billion. The current consensus earnings estimate is $1.36 per share on revenue of $1.61 billion for the year ending September 30, 2011.

Concur Technologies Provides Mixed Guidance
Wednesday, November 10, 2010 4:30:00 PM ET
View: Complete Article | Historical Guidance

Concur Technologies, Inc. (CNQR) said it expects first quarter non-GAAP earnings of approximately $0.28 per share on revenue of approximately $79.2 million. The current consensus earnings estimate is $0.21 per share on revenue of $80.9 million for the quarter ending December 31, 2010.

American Electric Power Reaffirms
Wednesday, November 10, 2010 4:22:00 PM ET
View: Complete Article | Historical Guidance

American Electric Power Company, Inc. (AEP) said it continues 2010 earnings of $2.95 to $3.05 per share and 2011 earnings of $3.00 to $3.20 per share. The current consensus earnings estimate is $3.04 per share for the year ending December 31, 2010 and $3.16 per share for the year ending December 31, 2011.

Advance Auto Parts Raises Guidance to be In-line with Estimates
Wednesday, November 10, 2010 4:15:01 PM ET
View: Complete Article | Historical Guidance

Advance Auto Parts Inc. (AAP) said it expects 2010 earnings of $3.80 to $3.90 per share. The company's previous guidance was earnings of $3.70 to $3.80 per share and the current consensus earnings estimate is $3.84 per share for the year ending December 31, 2010.

Rosetta Stone Sees Revenue Below Estimates
Wednesday, November 10, 2010 4:05:01 PM ET
View: Complete Article | Historical Guidance

Rosetta Stone Inc. (RST) said it expects fourth quarter earnings of $0.31 to $0.41 per share on revenue of $76.0 million to $81.0 million. The current consensus earnings estimate is $0.37 per share on revenue of $83.2 million for the quarter ending December 31, 2010.

Macy's Reaffirms
Wednesday, November 10, 2010 8:00:10 AM ET
View: Complete Article | Historical Guidance

Macy's Inc (M) said it continues to expect fiscal year earnings of $1.94 to $1.99 per share. The current consensus earnings estimate is $1.96 per sharefor the year ending January 31, 2011.

Maidenform Brands Guides In-line
Wednesday, November 10, 2010 7:32:00 AM ET
View: Complete Article | Historical Guidance

Maidenform Brands Inc. (MFB) said it expects fourth quarter earnings of $0.25 to $0.29 per share. The current consensus earnings estimate is $0.28 per share for the quarter ending December 31, 2010.

China Green Agriculture Reaffirms
Wednesday, November 10, 2010 7:30:00 AM ET
View: Complete Article | Historical Guidance

China Green Agriculture, Inc. (CGA) said it expects second quarter earnings of approximately $0.29 per share on revenue of $33.1 million to $33.3 million. The current consensus earnings estimate is $0.29 per share on revenue of $33.1 million for the quarter ending December 31, 2010. The company said it continues to expect fiscal 2011 earnings of $1.35 to $1.37 per share on revenue of $150.5 million to $152.8 million. The current consensus earnings estimate is $1.36 per share on revenue of $152.4 million for the year ending June 30, 2011.

Negative Guidance

Cisco Systems Sees Revenue Below Estimates
Wednesday, November 10, 2010 5:01:19 PM ET
View: Complete Article | Historical Guidance

Cisco Systems, Inc. (CSCO) said during its conference call said it expects second quarter revenue of $10.1 billion to $10.3 billion. The current consensus estimate is revenue of $11.08 billion for the quarter ending January 31, 2011.

Kulicke & Soffa Warns
Wednesday, November 10, 2010 4:20:01 PM ET
View: Complete Article | Historical Guidance

Kulicke & Soffa Industries Inc. (KLIC) said it expects first quarter revenue of $125.0 million to $135.0 million. The current consensus estimate is revenue of $214.6 million for the quarter ending December 31, 2010.

SurModics Warns
Wednesday, November 10, 2010 4:00:02 PM ET
View: Complete Article | Historical Guidance

SurModics Inc. (SRDX) said it expects fiscal 2011 non-GAAP results to range from a loss of $0.15 per share to earnings of $0.05 per share on revenue of $55.0 million to $63.0 million. The current consensus estimate is for earnings of $0.63 per share on revenue of $82.8 million for the year ending September 30, 2011.

Campbell Soup Guides Lower
Wednesday, November 10, 2010 8:30:03 AM ET
View: Complete Article | Historical Guidance

Campbell Soup Co. (CPB) said it expects first quarter earnings of $0.81 to $0.82 per share. The current consensus earnings estimate is $0.91 per share for the quarter ending October 31, 2010. The company also said it now expects fiscal 2011 earnings of $2.52 to $2.57 per share. The company's previous guidance was earnings of $2.59 to $2.64 per share and the current consensus earnings estimate is $2.63 per share for the year ending July 31, 2011.

Source: EarningWhispers

Watchlist for 11th November

2010-11-10T15:38:00.001-08:00

US HOT STOCKS: Yahoo, Priceline, Netflix, Merge Healthcare, SciClone, Sempra Energy

2010-11-09T14:58:00.000-08:00

Among the companies whose shares are actively trading in the session are Atlas Energy Inc. (ATLS), Priceline.com Inc. (PCLN) and Dean Foods Co. (DF). Chevron Corp. (CVX, $83.72, -$1.08, -1.27%) has agreed to acquire independent natural-gas producer Atlas Energy ($42.76, +$11.04, +34.80%) for $3.2 billion, joining its larger rival Exxon Mobil Inc. (XOM, $70.72, +$0.84, +1.20%) in making a bet on natural gas.

Chevron will pay Atlas shareholders $38.25 in cash for each share and a total of 41 million units of the company's limited partner, Atlas Pipeline Holdings LP (AHD, $12.31, +$2.62, +27.04%), or $5.09 per Atlas Energy share.

Priceline's ($420.75, +$32.17, +8.28%) third-quarter profit dropped 30% absent a big prior-year tax-related gain, but core results handily topped the company's expectations. Shares climbed as the company also projected fourth-quarter earnings and revenue growth ahead of Wall Street's estimates. Dean Foods' ($8.81, -$1.55, -14.98%) third-quarter earnings dropped 51%, falling short of analysts' estimates, as the company continued to see its dairy operations--its biggest unit--struggle. Shares tumbled as the company also forecast fourth-quarter earnings below consensus expectations. Chevron's agreement to buy independent natural-gas producer Atlas Energy is also giving a boost to the natural gas sector: Cabot Oil & Gas Corp. (COG, $35.18, +$2.64, +8.11%), Range Resources Corp. (RRC, $44.20, +$3.47, +8.52%) and Petrohawk Energy Corp. (HK, $18.75, +$0.99, +5.57%) are all seeing their shares rise.

Netflix Inc. (NFLX, $173.88, +$4.75, +2.81%) appeared to have switched online content delivery providers again, less than a year after going with Akamai Technologies Inc. (AKAM, $51.65, -$2.49, -4.60%), according to blog reports. BusinessofVideo.com notes that Netflix's former providers, Limelight Networks Inc. (LLNW, $8.25, +$1.65, +25.00%) and Level 3 Communications Inc. (LVLT, $1.00, +$0.11, +12.50%), gave such indications on their recent earnings conference calls. Limelight said its Netflix contract was extended through 2013 and will expand in 2011. Level 3, meanwhile, referenced "a large content customer [content delivery network] contract we just won in October."

Other Stocks In Focus: Barclays PLC (BCS, $18.98, +$0.43, +2.32%) reported a sharp fall in pretax profit for the third quarter as income, including at its investment-banking business, fell. The U.K. bank also moved to ease concerns that it will have to raise capital ahead of new regulatory requirements.

Cinemark Holdings Inc. (CNK, $18.19, -$0.38, -2.05%) said the sale of its stock to be sold by private-equity firm Madison Dearborn Partners LLC priced at a 3.3% discount to Monday's closing price. The planned sale of at least 10 million shares by Madison Dearborn was announced late Monday.

Convergys Corp. (CVG, $12.15, +$0.32, +2.70%) swung to a third-quarter profit, with adjusted results declining but topping analysts' estimates, as the company rebounded from prior-year losses from discontinued operations.

Energy Conversion Devices Inc. (ENER, $4.93, +$0.38, +8.35%), a provider of thin-film flexible solar laminate products, reported a narrower-than-expected loss and revenue ahead of estimates.

FalconStor Software Inc. (FALC, $2.74, +$0.35, +14.64%) announced that it has entered into a managed services and reseller agreement with HP Enterprise Services. Under the terms of the agreement, FalconStor's network storage server software will be used to create new disaster recovery and business continuity offerings for HP Business Continuity Recovery Services customers.

Fossil Inc.'s (FOSL, $68.73, +$4.76, +7.44%) third-quarter profit surged 93% as the watch and fashion-accessories retailer's sales jumped sharply and margins improved, with results handily topping expectations.

Golden Star Resources Ltd. (GSS, $5.64, -$0.32, -5.37%) posted a surprise third-quarter loss, but was less in the red than last year, as the gold miner's gross margin rose on surging gold prices.

Hologic Inc. (HOLX, $16.96, +$0.68, +4.18%) swung to a fiscal fourth-quarter loss on write-downs, although revenue rose more than the maker of medical diagnostic and monitoring gear expected. For the new fiscal year, the company forecast earnings below expectations, while its revenue view bracketed analysts' average estimate.

InterContinental Hotels Group PLC's (IHG, $18.52, -$1.07, -5.46%) third-quarter results came in slightly beneath expectations. Bank of America Merrill Lynch reiterated its underperform recommendation on the U.K.-based hotel operator, saying "the outlook statement is slightly more positive than three months ago but does strike a note of caution and says that despite the improvement in revenue per available room, the company has limited visibility."

JA Solar Holdings Co.'s (JASO, $9.60, +$0.19, +2.02%) third-quarter earnings surged as the Chinese solar-products maker reported strongly higher revenue and shipments.

Qiagen NV's (QGEN, $18.40, -$0.44, -2.34%) third-quarter profit slid 3.2% on lower margins amid the weak U.S. economy, but sales in its molecular diagnostics segment remained strong. Total revenue fell short of expectations and the Dutch medical diagnostic-products maker cut its 2010 sales forecast while backing its earnings view.

LDK Solar Co.'s (LDK, $14.58, +$1.09, +8.08%) third-quarter profit more than tripled as the Chinese maker of solar wafers and modules posted surging shipments and revenue, helping it easily top estimates. The company also projected strong fourth-quarter revenue and again raised its full-year revenue target.

Merge Healthcare Inc. (MRGE, $3.76, +$0.63, +20.13%) reported results that exceeded analyst estimates. The health IT and interoperability solutions provider also named Jeffery Surges as its new chief executive. He was most recently the president of sales at Allscripts Healthcare Solutions.

Mindray Medical International Ltd.'s (MR, $28.50, -$1.33, -4.46%) third-quarter profit declined 17% on prior-year gains as international sales continued to climb. But the Chinese medical-device maker's revenue fell short of Wall Street's expectations.

Multiband Corp. (MBND, $2.82, +$0.08, +2.92%) said its third-quarter results would exceed previous projections as the cable-service company has seen stronger revenue. The home service provider for DIRECTV said revenue results have been driven by increased leverage in its business model.

Sara Lee Corp.'s (SLE, $15.02, +$0.22, +1.49%) shares rose after the namesake cheesecake and other packaged food maker announced plans to sell its North American fresh bakery business to Mexican bakery giant Grupo Bimbo (BIMBO.MX) for $959 million, ridding itself of a business that has been hurt by hefty promotions in grocery stores.

Santarus Inc. (SNTS, $3.06, -$0.24, -7.27%) swung to a loss in the third quarter, as the biopharmaceutical company's sales plunged because generic versions of its stomach drug Zegerid hit the market. Shares sank as the company also ratcheted back its expectations for the year.

SciClone Pharmaceuticals Inc.'s (SCLN, $3.81, +$0.16, +4.38%) third-quarter earnings more than tripled, beating analysts' estimates, as the company's revenue increased and margins improved. The drug maker raised its 2010 profit forecast.

Sempra Energy's (SRE, $51.75, -$1.89, -3.52%) third-quarter profit plunged 58% as the company took a write-down involving its commodities-focused joint venture, but revenue rose much more than analysts expected. The southern California utility operator and wholesale generator had seen weakness in its core results earlier this year.

Power producers struggled in Solarfun Power Holdings Co. (SOLF, $10.61, -$0.86, -7.50%) swung to a third-quarter loss on derivative and convertible-bond impacts, masking surging demand as the Chinese solar-products maker's shipments set a record. The company boosted its 2010 shipment target to about 785 megawatts from 750 MW as third-quarter shipments doubled.

ISI Group has upgraded its stock investment rating on Symantec Corp. (SYMC, $17.77, +$0.21, +1.20%) to buy from hold, saying shares have struggled since its acquisition of Veritas Software Corp. in 2004 but the time is right to purchase for investors with a 12-18 month horizon.

Warnaco Group Inc.'s (WRC, $56.15, +$1.01, +1.83%) third-quarter earnings jumped 40% on continued success expanding abroad, as the apparel maker's results beat expectations. The company also increased its outlook for the year.

Western Gas Partners LP (WES, $29.84, -$1.22, -3.93%) plans to sell at least 6.5 million units in the second such sale this year. Units fell as the sale would increase outstanding units by about 9%. The founder of China's largest e-commerce company,

Alibaba Group, has been approached by private equity investors to measure his interest in participating in a joint bid for Yahoo Inc. (YHOO, $17.50, +$1.06, +6.42%), which owns a 40% stake in Alibaba, Reuters reported Tuesday on its website, citing a person close to the situation

Source: Dow Jones Newswires;

Web.com Swings To 3Q Profit; Shares Up As Co Pays Debt Early

2010-11-02T17:32:00.001-07:00

Web.com Group Inc. (WWWW) swung to a third-quarter profit as revenue growth and a $21.2 million income-tax benefit related to its closing of the Register.com acquisition more than offset a decline in margins. Shares jumped 19% to $7.44 in after-hours trading, as the company's bottom line excluding items easily topped expectations.

Chairman and Chief Executive David Brown said that during the third quarter, the company began to pay down debt related to the Register.com deal earlier than required. The company said it paid down about $6 million in debt during the quarter, several months ahead of deadlines.

Web.com acquired the privately held Web site designer and domain-name registration provider for $135 million in August, a deal it said would create cross-selling and cost-cutting opportunities. The company said the deal would form one of the largest online marketing and Web-services companies focused on serving small businesses. Web.com reported a profit of $12 million, or 45 cents a share, compared with a year-earlier loss of $1.6 million, or 6 cents a share. Excluding stock-based compensation, restructuring and other impacts, per-share earnings grew to 20 cents from 15 cents as total revenue jumped 25% to $32.7 million. In August, the company projected earnings of 13 cents to 14 cents per share on revenue of $37 million to $38 million, a view that topped Wall Street's then expectations. Gross margin slid to 54.3% from 61.1%. Web.com's total net subscribers were 974,000 at the end of the quarter, up sharply from 278,000 the previous quarter due to the addition of Register.com's customer base. Customer churn was 1.7%, and would have been about 2% had Register.com's performance been included for the full quarter. Both figures were below the 2.9% in the second quarter.

Source: DowJones Newswire

RiT Technologies Reports Financial Results for the Third Quarter of 2010

2010-11-02T17:30:00.001-07:00

RiT Technologies (RITT), today announced its financial results for the third quarter ended September 30, 2010. Revenues for the third quarter of 2010 were $2.7 million, up 8% compared with $2.5 million in the third quarter of 2009, but down 18% compared sequentially with the second quarter of 2010. The quarter's sales reflected the seasonality of the third quarter, which includes Europe's holiday period, together with the early timing of Israel's fall holidays, which reduced the Company's working days to just 13 days in September. This caused a delay in the shipment of some orders from the third to the fourth quarter. Net loss for the quarter was $0.8 million ($0.27 per share on a basic and diluted basis), a 45% improvement compared with $1.5 million ($0.59 per share on a basic and diluted basis) in the parallel quarter of 2009. This reduced net loss reflects the year-over-year increase in revenues, compounded by company-wide cost cuts implemented during the first half of 2010, which have reduced the Company's 2010 operating expenses by more than 20% compared to 2009. For the nine-month period, revenues totaled $8.6 million, an increase of 33% compared with $6.4 million for the parallel period of 2009. Net loss for the first nine months declined by 51% to $2.4 million ($0.82 per share on a basic and diluted basis) compared with $4.9 million ($1.87 per share on a basic and diluted basis) for the first nine months of 2009.

Comments of Management Commenting on the results, Mr. Eran Ayzik, RiT's President and CEO, said, "Looking beyond the impact of holidays on our third quarter results, our business is showing clear signs of top-line and bottom-line improvement, demonstrating that our strategies for stabilizing the business are moving us towards renewed growth and profitability. "In fact, we are encouraged by a number of positive developments. Our revenues for the quarter benefited from initial sales of all our new products, including the EPV, the MPO Cassette Panel and the SMARTen(TM) Patch Panels with Patching Switches. In parallel, we are pleased with the progress of our new Partner Program, which we launched to expand our channels in target regions throughout the world. On the cost side, our efforts of the past year have reduced our operating expenses by over 20%, and we continue to implement very tight budget control." Mr. Ayzik concluded, "As we move forward, we are fully focused on leveraging our streamlined cost model, excellent products and expanding channels. We are working to return the Company to profitability as soon as possible and to begin building it to the next level." About RiT Technologies RiT is a leading provider of intelligent solutions for infrastructure management, asset management, environment and security, and network utilization. RiT Enterprise solutions address datacenters, communication rooms and workspace environments, ensuring maximum utilization, reliability, decreased downtime, physical security, automated deployment, asset tracking, and troubleshooting.

RiT Carrier solutions provide carriers with the full array of network mapping, testing and bandwidth qualification capabilities needed for access network installation and service provisioning.

Source: DowJones Newswire

IPO Scorecard: Update On Selected Initial Stock Offerings

2010-11-02T17:27:00.000-07:00

Company                                Symbol Percent Current   Offer Date
HiSoft Technology International        HSFT       163%   $26.34 $10.00 30-Jun-10
Qlik Technologies Inc                  QLIK       149%   $24.89 $10.00 15-Jul-10
MakeMyTrip Ltd                         MMYT       142%   $33.81 $14.00   8-Aug-10
Molycorp Inc.                          MCP        135%   $32.95 $14.00 28-Jul-10
AutoNavi Holdings Ltd                  AMAP        72%   $21.55 $12.50   1-Jul-10
Vera Bradley Inc.                      VRA         72%   $27.50 $16.00 21-Oct-10
IntraLinks Holdings Inc.               IL          62%   $21.03 $13.00   6-Aug-10
Green Dot Corporation                  GDOT        52%   $54.55 $36.00 21-Jul-10
Fabrinet Co.                           FN          50%   $15.01 $10.00 25-Jun-10
Envestnet                              ENV         47%   $13.24   $9.00 28-Jul-10
RealD Inc                              RLD         37%   $21.89 $16.00 15-Jul-10
Daqo New Energy Corp.                  DQ          35%   $12.85   $9.50   7-Oct-10
KEYW Holding                           KEYW        30%   $13.01 $10.00 30-Sep-10
MediaMind Technologies Inc             MDMD        28%   $14.12 $11.00   8-Aug-10
Tesla Motors Co.                       TSLA        25%   $21.20 $17.00 28-Jun-10
Ameresco Inc.                          AMRC        25%   $12.45 $10.00 21-Jul-10
Ambow Education Holding Ltd            AMBO        19%   $11.88 $10.00   5-Aug-10
SeaCube Container Leasing              BOX         18%   $11.76 $10.00 27-Oct-10
Oxford Resource Partners               OXF         15%   $21.23 $18.50 13-Jul-10
SciQuest Inc.                          SQI         15%   $10.81   $9.50 23-Aug-10
RealPage Inc.                          RP          15%   $23.88 $11.00   8-Aug-10
Tianli Agritech                        OINK        15%    $6.87   $6.00 15-Jul-10
Rhino Resources                        RNO         11%   $22.84 $20.50 29-Sep-10
Aegerion Pharmaceuticals               AEGR         8%   $10.25   $9.50 22-Oct-10
Amyris Biotechnologies Inc.            AMRS         6%   $17.02 $16.00 28-Aug-10
Chesapeake Midstream Partners          CHK          5%   $22.14 $21.00 28-Jul-10
Body Central Corp.                     BODY         5%   $13.64 $13.00 14-Oct-10
Pacific Bioscience of California Inc. PACB         3%   $16.43 $16.00 26-Oct-10
Campus Crest Communities Inc.          CCG          0%   $12.54 $12.50 13-Oct-10
Cazador Acquisition                    CAZAU        0%   $10.00 $10.00   7-Oct-10
Tower International Inc.               TOWR        -1%   $12.86 $13.00 14-Oct-10
Ellingtion Financial                   EFC         -2%   $22.00 $22.50   7-Oct-10
Regeneron Pharmaceutical Inc.          REGN        -5%   $26.62 $28.00   8-Oct-10
NXP Semiconductors N.V.                NXPI        -7%   $13.02 $14.00   5-Aug-10
Horizon Technology Finance Corp.       HRZN        -9%   $14.60 $16.00 28-Oct-10
Smart Tech                             SMT        -27%   $12.40 $17.00 21-Jul-10
Trius Therapeutics Inc.                TSRX       -30%    $3.50   $5.00   4-Aug-10
NuPathe Inc.                           PATH       -42%    $5.76 $10.00   6-Aug-10

Source: Dow Jones Newswires

Melco Crown Entertainment Swings To Third Quarter Profit

2010-11-02T17:25:00.001-07:00

Macau casino operator Melco Crown Entertainment Ltd. (MPEL) Tuesday beat analysts' expectations for its third-quarter result, swinging to a net profit due to improved operations and a higher win rate at its flagship City of Dreams casino resort. The company's net income for the three months ended Sept. 30 totaled US$15.8 million on a U.S. Generally Accepted Accounting Principles basis, compared with a net loss of US$39.5 million a year earlier.

The Nasdaq-listed casino operator said its adjusted earnings before interest, taxes, depreciation and amortization, a measure widely used to evaluate the performance of gambling companies, rose to US$136.3 million from US$55.6 million the previous year, topping analysts' estimates. A handful of analyst forecasts had already taken into account the likely higher than average VIP hold rate at the City of Dreams casino, wrote Sterne, Agee & Leach analyst David Bain in a Tuesday note. "Thus, consensus was 'artificially' high, in some ways, and we believe the company still exceeded those numbers." The win rate for high roller play at City of Dreams was 3.4% versus the 2.85% theoretical average. Melco Crown, co-chaired by Australian billionaire James Packer and Lawrence Ho, the son of Macau gambling tycoon Stanley Ho, said its net revenue for the three months ended Sept. 30 rose 45% to US$727.0 million from US$500.3 million a year earlier. Analysts were bullish on the outlook for the company, whose City of Dreams property on Cotai had in the past struggled to compete with Sands China Ltd.'s (1928.HK) Venetian resort across the street, as it ramped up its entertainment offerings. The company's House of Dancing Water production, while expensive, is of an excellent standard, according to CLSA. The house expects the show, along with other planned amenities such as a nightclub and Hard Rock Cafe, to help drive traffic at the casino. "The property is on its way to becoming the center of entertainment of Macau, which is what it had set out to do from the beginning," said Fischer. Ho, also Melco Crown chief executive, said the customer database at City of Dreams, which opened in June 2009, had grown to 450,000 members and that he expected it to hit 500,000 by the end of the year. Ho also said that Melco Crown's recent management restructuring, including the resignation of its City of Dreams president and subsequent appointment of company-wide co-chief operating officers in July, was already yielding "tangible results."

The company is still searching for a new chief financial officer after Simon Dewhurst resigned in August. The company will focus on Macau for the next twelve months, said Ho, adding that Melco Crown's contract to provide the casino license for the Macao Studio City project remains valid. The US$2.4 billion project was scheduled to begin operations last year, but construction has remained at the initial stages for more than three years because of a bitter dispute between the partners that has escalated to Hong Kong courts.

Source: Dow Jones Newswires

Amazon.com 3Q Net Up 16% On Sales Jump; Spending Still Strong

2010-10-21T18:44:00.000-07:00

Amazon.com Inc.'s (AMZN) third-quarter earnings rose 16% as revenue continued to surge at the No. 1 Internet retailer by sales, but investors were unsettled because the company raised the possibility that operating income might decline in the current quarter. Seattle-based Amazon said operating expenses jumped 40% in the third quarter, in part because it was spending on a previously planned infrastructure expansion that includes 13 new fulfillment centers.

During a conference call with analysts, Chief Financial Officer Tom Szkutak said the company had completed 10 of the centers and is planning to open more before the peak holiday shopping season. Amazon will continue to build infrastructure if it sees more growth, Szkutak said.

The earnings come as Amazon continues to capture a disproportionate share of growth in the online retail market, which is seen rising 13% this year to $152 billion, according to eMarketer, a research group. To take advantage of that opportunity, Amazon is continuing to spend on distribution centers and other investments. The potential for higher costs weighed on Amazon stock, which is up 23% so far this year. In after-hours trading, shares were down 3.8% at $158.70. Still, Amazon saw sales jump, particularly in its catch-all categaory, electronics and other general merchandise, which rose 68%. Traditional media was up 14%, a slower pace than in the second quarter. Some of those sales had been driven by discounting, because the company undercut competition with low prices in order to grab market share.

The company has also widened its offerings, including a growing number of third-party merchants selling on the site. Amazon's Kindle e-book reader and the company's digital book business have encountered increasing competition. The Kindle has also contributed to Amazon's rising costs because the company has boosted spending to promote the Kindle in the face of Apple Inc.'s (AAPL) iPad touchscreen tablet. On Thursday, the company said its latest e-reader models are the fastest-selling Kindles so far, but it remained characteristically tight-lipped on specific sales figures. In the latest period, Amazon posted a profit of $231 million, or 51 cents a share, from $199 million, or 45 cents a share, a year earlier.

Analysts predicted 48 cents. Net sales jumped 39% to $7.56 billion, which would have been a point higher excluding foreign-exchange effects. In July, the company predicted $6.9 billion to $7.63 billion. Gross margin inched higher to 23.5% from 23.4%. The company projected fourth-quarter revenue of $12 billion to $13.3 billion, compared with analysts' average estimate of $12.3 billion, according to Thomson Reuters. The company also offered a wide range for its operating income, which it said could decline as much as 24% or rise as much as 18%.

Source: Dow Jones Newswires

Hot Stocks To Watch: Netflix, eBay, McDonald's, Hershey, Baxter

2010-10-21T07:44:00.000-07:00

Among the companies whose shares are actively trading in the session are Netflix Inc. (NFLX), eBay Inc. (EBAY) and McDonald's Corp. (MCD).

Netflix's ($172.61, +$19.46, +12.71%) third-quarter earnings improved 26%, topping its expectations as revenue and margins grew and subscriber-acquisition costs fell. Subscriber-acquisition costs, a metric closely watched by investors in the online movie rental company, declined 26%. The churn rate--a measure of customer cancellations and free subscribers--decreased to 3.8% from 4.4%.

EBay's ($27.75, +$2.09, +8.14%) evolution toward becoming a PayPal-focused company continued in the latest quarter as it reported better-than-expected results because of strength in its online payment business. According to eBay, PayPal ended the quarter with 90 million active accounts worldwide, adding more than a million new accounts each month during the quarter. EBay also announced a $2 billion stock buyback as well as plans to issue up to $1.5 billion in term debt financing under the company's existing shelf registration statement.

McDonald's ($79.10, +$1.69, +2.18%) third-quarter earnings rose 10% as the world's largest hamburger chain's U.S. sales got a boost from its blended-ice beverages and continued international growth. The results beat analysts' expectations.

Hershey Co.'s (HSY, $48.97, -$2.13, -4.17%) third-quarter earnings climbed 11% as the chocolate maker saw its sales and margins increase. Still, organic sales - a key metric that typically excludes acquisitions and foreign exchange - were below some analysts' expectations. In a statement, Hershey said the timing of some "seasonal shipments" damped third-quarter sales by about one percentage point. But those shipments were moved to early October and fourth-quarter sales will be higher than expected, the company said.

Children's Place Retail Stores Inc. (PLCE, $45.52, -$6.36, -12.26%) cut its fiscal third-quarter earnings forecast to account for comparable retail sales falling some 5% so far during the period for the children's retailer.

Other Stocks In Focus:
AptarGroup Inc.'s (ATR, $44.98, -$2.41, -5.09%) third-quarter earnings rose 40% to beat views, but the product-dispenser maker was downbeat about earnings for the current quarter because of dollar strength and a tough comparison.

Baxter International Inc.'s (BAX, $51.02, +$1.63, +3.30%) third-quarter earnings rose 12% following charges a year ago and as the company cited "improved performance" in a business that includes plasma-based drugs and has been a big source of turbulence this year. Janney Capital Markets raised its stock-investment rating on BJ's

Wholesale Club Inc. (BJ, $42.82, +$1.57, +3.81%) to buy from neutral, saying it believes the likelihood of a buyout by Leonard Green & Partners, a big stakeholder, is a very real possibility.

Covanta Holding Corp. (CVA, $16.09, +$0.42, +2.68%) third-quarter earnings fell 51% as the renewable-energy company's growth in operating expenses outpaced that of weaker-than-expected revenue. Adjusting for one-time charges related to an Irish development project and a loan to improve a Pennsylvania facility, core profit rose and beat analysts' expectations.

Cypress Semiconductor Corp. (CY, $11.78, -$0.61, -4.92%) reported a third-quarter profit following weak prior-year results as demand continues to rebound. But the company's revenue growth fell short of Wall Street's expectations.

Danaher Corp.'s (DHR, $43.19, +$1.60, +3.85%) third-quarter earnings surged 84% on a $291 million gain related to the diversified manufacturer's tool joint venture. Stronger sales and margins also contributed to the results beating analysts' expectations.

E*Trade Financial Corp. (ETFC, $14.45, -$0.30, -2.03%) posted its second consecutive quarterly profit as the online brokerage again set aside less money for current and future potential losses. But E*Trade, which has been hammered by bad loans made by its banking unit, also felt the pain of a slowdown in trading activity, as daily average revenue trades--or DARTs, a measure of trading levels--plunged 30% from a year earlier, and 26% from the second quarter.

Drug maker Eli Lilly & Co. (LLY, $35.60, -$0.41, -1.14%) said Thursday its third-quarter profit rose 38% from the year earlier period, which was weighed down by an asset-sale charge, while revenue growth was relatively weak.

Fidelity National Financial Inc. (FNF, $13.52, -$1.22, -8.28%) announced Chief Executive Alan Stinson stepped down as third-quarter profit rose 13%, with cost-cutting more than offseting declining revenue. Stinson will remain with the title insurance company as an executive vice president. Fellow title insurer First American Financial Corp. (FAF, $14.31, -$0.66, -4.41%) also declined.

Fifth Third Bancorp. (FITB, $12.88, +$0.48, +3.87%) swung to a third-quarter profit as it set aside much less to cover loan losses.

Source: Dow Jones Newswires

Morgan Stanley reports 3rd quarter loss tied to changing value of bank's own debt

2010-10-20T16:53:00.000-07:00

Morgan Stanley became the latest investment bank to report weaker results Wednesday from a trading slowdown during the summer.

The New York-based bank reported a net loss during the third quarter as revenue fell 20 percent and because of some special one-time charges. Even stripping out the charges, adjusted earnings tumbled from the year-ago period.

Morgan Stanley's CEO James Gorman said in a statement: "Our results in aggregate clearly do not reflect the true potential of Morgan Stanley's global client franchise and I am not satisfied with our overall performance."

The bank's shares closed down a penny at $25.38 as broader markets rallied.

Paul Zubulake, a senior analyst at Aite Group, said Morgan Stanley was up against the same problems other investment banks were facing. Economic, regulatory and political uncertainty all factored into a slowdown in trading and market activity, he said.

"There's just less risk-taking going on," Zubulake said.

Morgan Stanley was hurt, like competitors Goldman Sachs Group Inc. and JPMorgan Chase & Co., as customers significantly ratcheted back on investing. Everyone from retail investors to large institutions scaled back their trading during the summer because of worries about the health of the economy and a general lack of volatility that often propels trading.

"It was a really protracted slowdown reflecting ongoing uncertainty in the markets," Ruth Porat, Morgan Stanley's chief financial officer said in an interview with The Associated Press.

Morgan Stanley was especially hard-hit by a slowdown in bond trading and underwriting stock offerings. Porat said the pace had started to pick up in September but that it was too early to tell if the gains would continue.

Craig Fehr, a senior financial services analyst for Edward Jones, said growth in the investment banking division is likely to be moderate over the next year as customers slowly re-enter financial markets. He predicted growth could be between 6 percent and 8 percent during the next 12 months.

Morgan Stanley's overall revenue fell 20 percent to $6.8 billion in the third quarter, but that was still ahead of the $6.4 billion forecast by analysts polled by Thomson Reuters.

The bank's net loss applicable to common shareholders was $91 million, or 7 cents per share, during the quarter, compared with earnings of $498 million, or 38 cents per share, during the same quarter last year.

Morgan Stanley would have earned a profit if it wasn't for special charges it took to cut the value of an investment it plans to sell and the changing value of its own debt.

Earnings from continuing operations totaled $313 million, or 5 cents per share, a 67 percent drop from the $936 million, or 50 cents per share, earned during the same quarter last year.

Stripping out special charges and discontinued operations, Morgan Stanley earned 23 cents per share, during the most recent quarter.

One of the biggest drivers of the loss was a $731 million charge Morgan Stanley took to reflect the greater cost it would incur to repurchase outstanding debt, which is worth more now because of the bank's improving financial condition. That reduced earnings by 30 cents per share.

The New York-based investment bank was on the brink of collapse during the depths of the financial crisis in late 2008. As the company received new investments and expanded its retail brokerage business through the purchase of Smith Barney, it recovered. With that recovery the price of its debt rose.

Banks must account each quarter for how much it would cost to buy back all its outstanding debt.

Morgan Stanley also took a $229 million charge as it slashed the value of its investment in Revel Entertainment Group, an Atlantic City, N.J. casino operator it plans to sell.

Quarterly results got a 12 cent per share lift from a one-time tax gain.

Source: Business Writer

US Economic Growth Continues At Modest Pace

2010-10-20T16:42:00.000-07:00

U.S. economic activity continued to rise modestly in September and early October, with growth picking up in several districts, according to a report released Wednesday by the Federal Reserve.

Several sectors in some districts, however, showed continued signs of sluggishness, the Fed's latest beige book indicated.

Housing markets remained weak, with most of the Fed's 12 regional districts reporting sales below those of a year ago, the Fed said.

"Home inventories were elevated or rising according to most District reports," the Fed said.

The report comes as the Fed is widely expected by investors to announce new government bond purchases at its next meeting on Nov. 2-3 in a bid to boost the slowing recovery.

Minutes from Fed policymakers last meeting Sept. 21 showed most officials believing that the central bank needed to undertake new measures to boost growth, given that inflation remains too low and unemployment too high.

The U.S. central bank compiles the beige book eight times a year from anecdotal information collected by the dozen regional Fed banks scattered around the country. The report, which is based on interviews with businesses, economists and market experts, helps inform Fed officials as they decide the future course of monetary policy.

This latest beige book was prepared by the Federal Reserve Bank of Dallas, based on information collected on or before Oct. 8, and is prepared for the central bank's next policy-setting meeting.

With the central bank concerned that inflation is too low, the beige book found that input costs increased slightly but were generally not being passed on to consumers in the form of higher prices for goods and services.

"Pass-through of rising input costs to final prices remained limited although there were scattered reports of increases," the Fed said.

Most districts reported minimal wage pressure, though there were numerous reports from all the districts that firms expected health-care reform to increase the cost of employee benefits.

According to the beige book, retail spending was flat to up slightly in most districts, and retailers said that "consumers are slowly regaining confidence." But the Fed also said that consumers are confining their purchases largely to must-buy items. Atlanta and Richmond districts were the exceptions to the generally positive trend; each suffered declining shopping traffic and sales, the Fed said.

"Looking ahead, retailers in several districts expected modest sales growth through year-end. In particular, some contacts in New York planned to add more holiday staff than last year," the report said.

In most districts, new auto sales either held steady or grew. Sales of used vehicles were reported to be strong, with prices rising thanks to demand and lean inventories, the report said.

"Respondents' outlooks were for slight growth in sales through year-end," the Fed said.

Manufacturing continued to expand across most districts, with exports boosting activity in several regions.

But hiring by manufacturing firms "remained sluggish," the Fed said.

A few districts saw improvement on the housing front, including Philadelphia, which reported an uptick in sales of existing homes. Richmond, Kansas City and Dallas districts also reported increased home sales in the higher price range.

Lending activity reported during the early fall remained at low levels, but "there were some reports that demand picked up slightly," the Fed said. Richmond and Dallas both reported an uptick in lending activity.

"Some contacts noted there was pressure to price loans slightly more aggressively," the Fed said.

Source: DOW JONES NEWSWIRES

US Stocks Erase Most Of Previous Day's Losses

2010-10-20T16:36:00.000-07:00

U.S. stocks jumped Wednesday, erasing most of the previous day's bruising losses as a positive outlook from the financial sector and a spate of strong earnings from airlines and other bellwethers gave investors reasons for optimism. The Dow Jones Industrial Average added 129.35 points, or 1.18%, to finish at 11107.97, while the Standard & Poor's 500-stock index was higher by 12.27 points at 1178.17 and the Nasdaq Composite gained 20.44 points to 2457.39.

Materials and energy stocks were two of the best performing sectors, a day after both were clobbered by fears over Beijing's attempts to slow the world's second-largest economy. Cliffs Natural Resources added 3.6%, Freeport McMoRan Copper & Gold gained 2.8%, and Massey Energy jumped 5.1% amid reports the Richmond, Va., miner is exploring a potential sale of the company.

Transport stocks also soared, with the Dow Jones Transportation Average gaining 2.2% after a trio of airlines reported strong earnings. Delta Air Lines jumped 11% after swinging to a third-quarter profit and reporting strong forward bookings through the holiday season.

American Airlines parent AMR Corp. surged 13% after its first profit in two years, while US Airways Group gained 7.4% on strong earnings. JetBlue Airways and United Continental rode the wave of optimism, picking up 6.8% and 7.6% respectively. "People are getting confident that earnings are going to be good this year," said Maris Ogg, president of Tower Bridge Advisors. "Maybe not to the level where we have 75% or 80% of companies beating expectations, but people are more confident the economy is on a more even keel." Intel and Boeing helped advance the broad-based rally, which included all but three of the Dow's 30 components and all 10 sectors of the S&P 500.

Boeing added 3.4% to lead the Dow components after the aerospace company said it swung to a quarterly profit from a year-ago loss and lifted its outlook. Intel gained 2.2% after it said it would invest up to $8 billion over several years to upgrade its manufacturing plants in the U.S. and build a new research facility in Oregon.

Also contributing were pharmaceutical companies, as Merck gained 1.3% and Pfizer added 1.6%. Even financial stocks joined in the rally, despite continuing worries over mortgage foreclosures.

Morgan Stanley pared deep morning losses to finish down by one penny after the investment bank's net profit fell in the third quarter, and Wells Fargo gained 4.3% after the San Francisco bank posted its best-ever quarterly earnings and made encouraging remarks on the foreclosure issue. Goldman Sachs Group rose 1.8% after its second consecutive quarterly profit decline, of 40% from a year earlier, surpassed most analyst estimates.

BlackRock, however, fell 2.9% even after beating analysts' forecasts with third-quarter earnings rising 74%. Bank of America, at the center of the foreclosure debacle, erased a steep morning decline to finish down 0.4%. Oppenheimer and Stifel both downgraded the stock, and the Charlotte, N.C., lender vowed to fight government-backed demands that it repurchase loans that allegedly didn't meet underwriting guidelines and other promises. "There's still a lot of headline risk around the financials, and that's going to persist for some time," said Jim Dunigan, managing executive of investments at PNC Wealth Management. "Most of the banks seem to have their arms around the challenges and they're working through them, adjusting to the new financial regulations and business models. So if you can stomach the headline risk, you're building value over time, but there's still going to be some volatility."

United Technologies reversed its morning decline to creep up 0.4% after third-quarter earnings for the maker of Otis elevators and Pratt & Whitney plane engines posted slower-than-expected revenue growth.

Abbott Laboratories dropped 0.9% after third-quarter net income fell 40%, while Yahoo added 2% to reverse most of Tuesday's loss after the company reported a surge in profits. Online auctioneer eBay, which finished with a 0.5% gain, added another 7% in after-hours trading after beating earnings expectations.

Sanofi-Aventis added 2.1% on news that U.S. antitrust regulators have given the green light for its proposed acquisition of Genzyme. Genzyme, which also announced third-quarter net income that more than quadrupled on strong product sales, advanced 0.3%.

Genzyme is meeting Friday with investors and analysts to provide 2011 financial guidance and make its case that the offer doesn't adequately value its existing business, its recovery plans or its pipeline products. Danish drug maker Novo Nordisk jumped 11% after the Food and Drug Administration sent a rival diabetes drug back for more testing. The makers of that drug fell, with Amylin Pharmaceutical down 46%, Alkermes down 28%, and Eli Lilly down 3.9%.

BHP Billiton rose 3.3% despite a growing likelihood Saskatchewan's government would vote down its proposed $38.6 billion takeover of Potash Corp. of Saskatchewan, The Wall Street Journal reported. Potash fell 0.7%.

The broad gains came amid continued weakness in the dollar. The U.S. Dollar Index, which measures the greenback against a basket of six others, fell 1.3% as the euro jumped to almost $1.40. The yen strengthened to trade at 81.16 yen to the dollar--its strongest finish in 15 years. The benchmark 10-year Treasury note gained, pushing the yield down to 2.47%. Gold gained, while oil rose to $81.77 a barrel.

Source: Dow Jones Newswires

Delta Air Sees 4Q Profit As Sector Rallies

2010-10-20T16:34:00.000-07:00

The head of Delta Air Lines Inc. (DAL) said Wednesday that the European Union should help the region's carriers compete with fast-growing Middle East rivals. Richard Anderson, Delta's chairman and chief executive officer, is the first U.S. airline executive to address the competitive threat of carriers such as Emirates, Etihad and Qatar Airways, which are using their geographical position to take market share from established entrants on long haul international routes. European carriers including Deutsche Lufthansa AG (DLAKY, LHA.XE) and Air France-KLM (AFLYY, AF.FR)--a Delta partner in the SkyTeam alliance--have rallied against Middle East rivals, alleging they receive unfair subsidies. Emirates and others deny the charge. Anderson said on a conference call that the European Union should support airlines in the region by providing antitrust immunity for services to Asia. SkyTeam and the other two global alliances--Star and Oneworld--have benefited from immunity to cooperate on transatlantic and transpacific services. "The EU needs to get on with it," said Anderson. Anderson said immunity to cooperate on fares and scheduling on Europe-Asia services was "a big piece of the puzzle" in securing more synergies from the alliances. Some EU member states have long resisted giving the European Commission--the EU's executive arm--authority to negotiate aviation treaties with countries in Asia, notably China, fearing their flag carriers could be disadvantaged. British Airways PLC (BAIRY, BAY.LN) has talked of seeking antitrust approval next year for flights with its Oneworld partner, Japan Airlines Corp. (JALSQ).

Delta Air Lines Inc. (DAL) said Wednesday that it expected to make its first fourth-quarter profit in a decade, highlighting the progress that U.S. carriers have made in managing costs and capacity in the wake of high fuel prices. The forecast came as four of the largest U.S. carriers beat expectations with third quarter profits earned during the busy summer travel season and no sign of a post-holiday slowdown. Strong international growth and discipline in adding back domestic capacity drove up U.S. airline stocks, with Delta and Hawaiian Airlines both up more than 10% in morning trade. Delta left its fourth-quarter and 2011 capacity guidance unchanged, and pledged to hold back capital expenditure in a bid to reduce its debt and prepare for any unforeseen downturn in the industry's fortunes. Richard Anderson, chairman and chief executive, said he would like to improve on Delta's existing target of reducing debt to $10 billion by 2012. He also said that global industry consolidation was three-quarters complete. A series of mergers on both sides of the Atlantic has helped to limit capacity growth. The second-largest U.S. airline said it sees an operating margin of 6% to 8% in the fourth quarter--one of the year's two weakest for U.S. carriers--but kept its capacity forecast intact. Some analysts expected this to be ratcheted down after planned additions, which concerned investors when first announced in August. "The strong revenue momentum we saw in the first half of the year continues to build," said Hank Halter, chief financial officer, in a memo to employees. Revenue per available seat mile--a key industry measure--is up 11% to 12% so far in October. Delta plans to expand by 5% to 7% in the December quarter, led by a 10% to 12% rise in international flying. President Ed Bastian said overseas services led the third-quarter performance. The airline reported a profit of $363 million for the third quarter compared with a year-ago loss of $161 million. Earnings of 43 cents a share compared with a year-earlier loss of 19 cents. Excluding items such as debt reduction and fleet charges, earnings rose to $1.10 from 6 cents as revenue jumped 18% to $8.95 billion. AMR Corp. (AMR), parent of third-ranked American Airlines, reported a profit of $143 million, or 39 cents a share, for the September quarter. This compared with a year-earlier loss of $359 million, or $1.26 a share. Its shares were recently up 8.7% at $7.09. US Airways Group Inc. (LCC) made $240 million, or $1.22 a share, in the quarter. This compared with a year-earlier loss of $80 million, or 60 cents a share; its shares were up 6.4% at $10.73. Hawaiian Airlines Holdings Inc. (HA) led the sector with nearly a 12% rise to $6.74 after beating analysts' expectations with earnings late Monday.

Source: Dow Jones Newswires;

Altria 3Q Profit Rises 28% Amid Improved Sales

2010-10-20T16:33:00.000-07:00

Altria Group Inc.'s (MO) third-quarter earnings rose 28% as the tobacco giant benefited from higher prices for its cigarettes and as sales in its smokeless tobacco unit climbed. The results beat analysts' expectations. Altria, the maker of Marlboro cigarettes and Copenhagen smokeless tobacco, has in recent years offset falling cigarette volumes with higher prices. The U.S. cigarette industry has been hurt by bans on smoking in public places and higher taxes. But Altria has also benefited from growing demand for smokeless tobacco products. Highlighting the growing importance of smokeless products, Altria executives on a conference call said they are working with retailers to get better and increased displays for smokeless tobacco brands on retail shelves. Some of the added displays for smokeless will come from space previously taken by cigarette racks, the company said. Altria described the changes as a "reallocation of space" between cigarettes and smokeless products that comes in response to the changing dynamics of the U.S. tobacco industry. The U.S. smokeless tobacco industry has grown, aided partly by bans on smoking in public places. In the company's UST smokeless division, earnings increased 65%, mostly owing to 16% growth in volume led by its Copenhagen brand, as revenue rose 11%. Its smokeless-tobacco market share rose 1.9 percentage points from a year ago to 55.6%. The parent company of Philip Morris USA reported a profit of $1.13 billion, or 54 cents a share, up from $882 million, or 42 cents a share, a year earlier, which included 6 cents in write-downs and other charges. Revenue increased 1.6% to $6.4 billion and rose 3.3% excluding excise taxes to $4.5 billion, as higher prices more than offset lower volume. Analysts polled by Thomson Reuters most recently forecast earnings of 52 cents on revenue of $4.42 billion. Cigarette earnings grew 15%, while revenue increased 1.8% despite a 2.4% volume drop. Retail market share fell 0.1 percentage point to 49.6%, though Marlboro's share rose 0.7 point to 42.6%. Earnings in the company's wine business were flat at $12 million and total cigar volumes were down 0.8%. The company raised its 2010 full-year guidance from a range of $1.81 to $1.85 a share to a range of $1.83 to $1.87, reflecting tax benefits. On an adjusted basis the company reaffirmed its guidance. Altria shares, which are up 27% for the year, recently added 0.5% to $24.87.

Source: Dow Jones Newswires;

Seagate Tech 1Q Profit Down 17% On Lower Margins

2010-10-20T16:32:00.001-07:00

Seagate Technology Inc.'s (STX) fiscal first-quarter profit fell 17% on lower margins, and the computer disk-drive maker's results fell short of Wall Street's expectations. Seagate, one of the world's largest hard-drive makers, returned to profitability in the past year as demand rebounded from a drop during the recession. But the company, which is especially strong in higher-margin high-end drives used by corporate customers, in the previous quarter reported lower unit shipments and unfavorable pricing on disk drives at some capacity and blamed the debt crisis in Europe and slower consumer spending there and in the U.S. Conditions in the market have long been volatile, with competitors racing to introduce drives that store more data at ever-lower prices. Challenges include the rise of data-storage devices based on chips known as flash memory, which cost more but are compact and energy-efficient. Rival Western Digital Corp. (WDC) on Tuesday reported its fiscal first-quarter profit dropped 32% on lower margins despite increased revenue and shipments. For the quarter ended Oct. 1, Seagate reported a profit of $149 million, or 31 cents a share, down from $179 million, or 35 cents a share, a year earlier. Excluding write-downs and other impacts, earnings fell to 37 cents from 58 cents as revenue rose 1.3% to $2.7 billion. Analysts estimated earnings of 45 cents on revenue of $2.72 billion, according to a poll by Thomson Reuters. Gross margin fell to 20.4% from 24.5%, below the company's long-term forecast. The disk-drive business has been known for razor-thin margins and excess capacity. Seagate shipped 49.2 million hard-disk drives, below the 50.7 million units that Western Digital did. Seagate's shares closed at $15.37. The stock is down 16% this year, but has climbed about 20% since Seagate late Thursday said private-equity firms had expressed interest in taking the company private in what could be an $8 billion deal.

Source: Dow Jones Newswires

Arena Pharmaceuticals Announces Phase 1 Results for APD916 for Narcolepsy with Cataplexy

2010-10-20T16:24:00.000-07:00

Arena Pharmaceuticals, Inc. (ARNA) announced today results from a Phase 1 clinical trial of APD916, a novel drug candidate discovered by Arena that targets the histamine H3 receptor for the treatment of narcolepsy with cataplexy. The randomized, double-blind and placebo-controlled trial evaluated the safety, tolerability and pharmacokinetics of 1 mg, 3 mg and 5 mg single doses of APD916. The trial evaluated 24 healthy volunteers in three cohorts of eight participants each, six randomized to APD916 and two to placebo. APD916 demonstrated dose-proportional pharmacokinetic exposure over the tested dose range. The terminal half-life was approximately 50 hours. Dose-limiting CNS adverse events occurred at the 5 mg dose, including insomnia, abnormal dreams and a nightmare. Adverse events of insomnia, nausea, headache, parosmia, alterations in perception of body temperature, abnormal dreams and visual and tactile hallucinations were commonly reported at the 3 mg and 5 mg doses, and adverse events of insomnia were commonly reported at the 1 mg dose. All adverse events in the trial were mild or moderate in nature. No serious adverse events were reported nor were there any significant safety issues with respect to vital signs, ECGs or laboratory testing. "APD916 is a highly potent compound, and we believe that exposures of 1 mg or less could be sufficient for the intended patient population," said William R. Shanahan, M.D., Arena's Senior Vice President and Chief Medical Officer. "We are currently evaluating next steps for this program."

About APD916
APD916, a potent and selective inverse agonist of the histamine H3 receptor, is Arena's internally discovered drug candidate for the treatment of narcolepsy with cataplexy. The histamine H3 receptor is predominantly expressed in the brain, and inverse agonists of the H3 receptor increase the synthesis and release of histamine through inhibition of presynaptic autoreceptors. Enhanced histamine release plays an important role in arousal, and the histaminergic system is at least partly under the control of orexin/hypocretin neurons. Narcolepsy with and without cataplexy have been associated with orexin/hypocretin deficiency and low levels of histamine in cerebrospinal fluid. Therefore, an H3 inverse agonist, by increasing central histamine activity, may potentially be effective in the treatment of these conditions.

About Narcolepsy and Cataplexy
Narcolepsy is a chronic neurological disorder caused by the brain's inability to regulate sleep-wake cycles normally. At various times throughout the day, people with narcolepsy experience fleeting urges to sleep. If the urge becomes overwhelming, individuals will fall asleep for periods lasting from a few seconds to several minutes. Cataplexy, or the sudden loss of muscle tone often triggered by emotional factors, is a symptom of narcolepsy and can cause a range of physical changes, from slurred speech to complete weakness of most muscles. According to the National Institutes of Health, or NIH, narcolepsy affects about one in every 2,000 Americans. Treatments are limited and consist of stimulant drugs to suppress daytime sleepiness and antidepressants for cataplexy. The only approved treatment for cataplexy in the United States is Xyrem (sodium oxybate), a DEA Schedule III drug.

About Arena Pharmaceuticals
Arena is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors, an important class of validated drug targets, in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases. Arena's most advanced drug candidate, lorcaserin, is intended for weight management and has completed a pivotal Phase 3 clinical trial program. Arena has filed an NDA for lorcaserin with the FDA, and the FDA has assigned a PDUFA date of October 22, 2010, for review of the application. Arena's wholly owned subsidiary, Arena Pharmaceuticals GmbH, has granted Eisai Inc. exclusive rights to market and distribute lorcaserin in the United States.

IPO Scorecard: Update On Selected Initial Stock Offerings

2010-10-20T15:41:00.000-07:00

Company Symbol Percent Current Offer Date
MakeMyTrip Ltd MMYT 166% $37.20 $14.00 8-Aug-10
HiSoft Technology International HSFT 151% $25.11 $10.00 30-Jun-10
Molycorp Inc. MCP 133% $32.63 $14.00 28-Jul-10
Qlik Technologies Inc QLIK 123% $22.34 $10.00 15-Jul-10
Fabrinet Co. FN 78% $17.84 $10.00 25-Jun-10
AutoNavi Holdings Ltd AMAP 54% $19.21 $12.50 1-Jul-10
Envestnet ENV 52% $13.70 $9.00 28-Jul-10
IntraLinks Holdings Inc. IL 45% $18.80 $13.00 6-Aug-10
Green Dot Corporation GDOT 35% $48.77 $36.00 21-Jul-10
Ameresco Inc. AMRC 29% $12.86 $10.00 21-Jul-10
MediaMind Technologies Inc MDMD 27% $14.01 $11.00 8-Aug-10
Daqo New Energy Corp. DQ 27% $12.08 $9.50 7-Oct-10
Tesla Motors Co. TSLA 21% $20.52 $17.00 28-Jun-10
KEYW Holding KEYW 18% $11.80 $10.00 30-Sep-10
RealD Inc RLD 17% $18.70 $16.00 15-Jul-10
Ambow Education Holding Ltd AMBO 17% $11.68 $10.00 5-Aug-10
SciQuest Inc. SQI 15% $12.48 $9.50 23-Aug-10
RealPage Inc. RP 15% $22.41 $11.00 8-Aug-10
Oxford Resource Partners OXF 13% $20.98 $18.50 13-Jul-10
Rhino Resources RNO 13% $23.20 $20.50 29-Sep-10
Amyris Biotechnologies Inc. AMRS 7% $17.12 $16.00 28-Aug-10
Chesapeake Midstream Partners CHK 5% $22.08 $21.00 28-Jul-10
Campus Crest Communities Inc. CCG 1% $12.60 $12.50 13-Oct-10
Body Central Corp. BODY 0% $13.01 $13.00 14-Oct-10
Cazador Acquisition CAZAU 0% $10.00 $10.00 7-Oct-10
Tower International Inc. TOWR -1% $12.89 $13.00 14-Oct-10
Ellingtion Financial EFC -1% $22.25 $22.50 7-Oct-10
Regeneron Pharmaceutical Inc. REGN -3% $27.07 $28.00 8-Oct-10
Tianli Agritech OINK -10% $5.42 $6.00 15-Jul-10
NXP Semiconductors N.V. NXPI -13% $12.12 $14.00 5-Aug-10
Trius Therapeutics Inc. TSRX -20% $4.00 $5.00 4-Aug-10
Smart Tech SMT -21% $13.37 $17.00 21-Jul-10
NuPathe Inc. PATH -33% $6.71 $10.00 6-Aug-10

Verenium Announces Regulatory Approval for Purifine(R) PLC in China

2010-10-20T15:06:00.000-07:00

CAMBRIDGE, Mass., Oct 20, 2010 /PRNewswire via COMTEX/ -- Verenium Corporation (VRNM), a pioneer in the development and commercialization of high-performance enzyme solutions, today announced that Purifine(R) PLC, the Company's novel enzyme specifically developed for the edible oil industry, has received all necessary Chinese government authorizations for sale as a processing aid in the edible oil industry. With this regulatory approval, Verenium now has the ability to sell Purifine(R) PLC in all the major oilseed processing areas of the world, which include Argentina, Brazil, the United States and China.

"We are very pleased that Purifine(R) PLC has met China's strict regulatory requirements for sale in that country's large and rapidly growing edible oils market," said Janet Roemer, Verenium's President and Chief Operating Officer. "Purifine(R) PLC continues to gain traction with current and potential customers, and now with this important approval, we can look to further expand the market reach of our innovative oilseed degumming process within the estimated $100 billion global edible oil market."

China's consumption of edible oils is growing at a high rate due to a large population and an ongoing shift to better quality food products. As a result, existing crushing capacity is being more fully utilized and additional plants are being built. Through regulation, China's government is driving the industry to adopt best efficiency practices to enhance oil yields. Verenium's Purifine(R) PLC enzymatic degumming process is well suited to help China meet this growing demand in an efficient and environmentally safe manner.

Watchlist for 24th September: Sify, Rediff, Make My Trip, Molycorp, China Realestate Info

2010-09-24T02:18:00.001-07:00

Big spike day. Waiting for 2.50s to short into.

Up 56% today. Adding to short watchlist on bigger spike. History of pump and dumps.

Top short for me. Shorted it successfully few times. Lets see if it crack 6 wall

Recovering its 3 day loss. Will make another attempt towards 26.

Do we see 41 again ? Would make for a good short then.

Keeps going up...waiting for the selling day!

Simply wow. Another beast. Hard to bring it down. Looking for spikes to short into. That strategy has worked well.

Adding to watchlist. No play yet. Just watching.

Another one going up up and up...waiting for short entry on weakness

Daily News: Blockbuster, Abbott Labs, Microsoft, Starbucks, Facebook, Citigroup, Virgin

2010-09-23T08:55:00.000-07:00

Blockbuster files for chapter 11 bankruptcy. Blockbuster (BLOKA.PK) announced earlier today that it has filed voluntary chapter 11 bankruptcy. The company said that it reached an agreement with a large group of bondholders to restructure its debt. The recapitalization plan would reduce the company’s debt from $1B to $100M, according to the statement. Blockbuster says it will continue normal operations while it moves through bankruptcy proceedings.
Novartis wins approval for MS drug. Swiss pharmaceutical giant Novartis (NVS) won approval from the FDA for its Gilenya drug used to treat multiple sclerosis. It is the first oral drug that will be available to treat the disease. Until now, typical treatments consisted of cumbersome injections and infusions. The market for MS treatments is estimated to be around $8.6B.
Abbott recalls bug-tainted baby formula. Abbott Laboratories (ABT) said it is recalling millions of units of its Similac powdered baby formula after two instances of contamination with beetles were found. The recalled products, which were fewer than 5M units, were produced in the company’s Sturgis, Michigan, plant, where beetles or their larvae were also found. The recall could cost the company as much as $100M in lost revenue.
Microsoft uploads $4.75B in bonds on the cheap. Microsoft (MSFT) sold $4.75B in debt, smashing the lowest borrowing rate on record for three-year unsecured corporate bonds and approaching record-low coupons for five-, 10- and 30-year bonds. The three-year debt at 0.875% yields 25 basis points more than similar-maturity Treasuries. But investors were disappointed in the software giant's quarterly dividend hike to $0.16/share, less than expected and sending shares down 2.15% in Wednesday trading.
Starbucks plans 'targeted' price increases. Starbucks (SBUX) said it will raise the price of "labor-intensive and larger-sized beverages" in response to surging green arabica coffee costs. The coffee chain said it expects to keep the price of a brewed, tall coffee at $1.50 and should maintain or lower the price of some of its most popular drinks. Starbucks backed its fiscal 2011 earnings outlook of $1.36-$1.41/share.
GM share price must accelerate for Treasury to break even. The U.S. government needs to sell all its General Motors stock at an average $133.78/share to fully recoup the $49.5B spent to rescue the automaker, according to inspector general Neil Barofsky. The comments came in response to an August letter from Sen. Charles Grassley asking for an analysis of GM's planned IPO and the government's chances of getting back the money it put into the company. That price is $39.15 greater than the highest level old GM shares ever reached.
Facebook likes the smartphone market. And the latest entrant into the smartphone market is… Facebook. The privately held company is reportedly teaming up with INQ Mobile to create two smartphone devices. The phones, which will carry the site's popular social networking service, are expected to be launched in Europe in the first half of 2011 and in the United States in the second half of 2011. AT&T (T) may have a network exclusive on the U.S. version of the device.
Virgin to check into hotels with $500M bet. Richard Branson’s Virgin Group is forming a partnership to spend as much as $500M to launch a chain of luxury hotels over the next three years. The venture will start in North America and wants to expand globally in the future. It will cater to high-income, well-educated customers and hopes to have as many as 25 hotels in the next decade.
Petrobras share offering is ‘comfortably oversubscribed.’ Plans for Brazilian state-owned oil company Petrobras (PBR) to offer new shares are creating quite a buzz among investors. The offer, worth as much as $79B, is reportedly “comfortably oversubscribed” with strong investor demand and high participation from state pension funds and institutional investors. The issue, one of the biggest ever, includes a $42.5B oil-for-shares swap between Petrobras and the government. The offer is expected to be priced after markets close on Thursday.
Citigroup expands in Asia. Citigroup (C) is expanding its presence in Asia. It recently opened a brokerage operation in Malaysia and is now considering plans to expand into Vietnam. It opened a brokerage branch in Indonesia last month. The bank says it wants to take advantage of a rising flow of funds into Southeast Asia.
Electrolux CEO swept out. Hans Straberg, CEO of Swedish appliance maker Electrolux (ELUXY.PK), is stepping down as president and CEO. Vice president Keith McLoughlin will take over at the start of next year. Straberg said in a statement that after nine years it was time to do something new. Shares were down 1.5% in mid-day trading in Stockholm.

Source: SeekingAlpha

Watchlist for 23rd September: Rediff, Virnetx, Origin Agrotech, Radware Ltd, Molycorp, China Precision Steel

2010-09-22T22:32:00.000-07:00

Beast of a stock. Only short fades below 12. Risky short

Shorting big spikes has been a winning trend. Waiting for a bigger spike

Top short. Will be interesting to see if 5 breaks or not.

Climbing up daily. Setting up to be a good short soon. Just watching for now

5th up day in a row. Time for a breather ? Waiting for 10 to crack!

Crazy stock. Makes new highs, then crashes and then makes new highs again. Keeps shorts on the edge. Waiting for a spike to short into though.

New based spike. However I don't believe the news was legit to cause a 15% spike. Would love to short on failure to break 9 again.

Gearing up for a shorting opportunity

Gearing up for a shorting opportunity

Also gearing up for a shorting opportunity

Rant About It...

Earnings: OCZ Technology, Monsanto, Marriott International, Ruby Tuesday, Lufkin Industries, RADVision Ltd

Earnings: Pozen, Mindspeed Technologies, Acme Packet, Radware, Global Payments

September Private-Sector Jobs +91K Vs Expected +75K

ECB Trichet: Not In Favor Of Bailout Funds Refinanced By ECB

Market News: Deutsche Bank, UBS, Google TV, Greece, AMR Crash Alert, IPO Market

Earnings: ClickSoftware, Focus Media, Datalink, Wolverine World Wide, Vitesse Semiconductor, AudioCodes

Eastman Kodak Weighing Options Including A Bankruptcy Filing...

Earnings: Arch Coal, Key Technology, Ingersoll Rand, Alpha and Omega Semiconductor

Market News: Eurozone Inflation, Morgan Stanley's CDS, DOJ Into Chinese Books, Bofa Card Cost, Mortgage Rates, IBM Passes Microsoft

Market News: German Vote, Amazon Fire, Motorola deal, HP Hires Goldman, AMD trimmed, Short-sale ban, Eastman Kodak fading

Market News: iPhone5, Greek fate, Housing market, Euro banks...

Earnings: Titan International, Actuant, Family Dollar, McCormick, AMD

Market News: Adobe Systems, Philips, FedEx, Jabil...

World Official Gold Holding - May 2011

Earnings: Booz Allen Hamiltion, DuPont, Modine Manufacturing, Navistar, QuinStreet, LDK Solar, SunPower

Earnings: G-III Apparel, AutoChina International, PNM Resources, Camden Property Trust

Earnings: PDL BioPharma, Vera Bradley, Colfax

Just Another Day At The Stock Market

Watch List: GMCR, LDK, LNKD, BMTI, LNG, AMRN,

LDK Reversal Chart

Market News: Sony, Goldman Sachs, UBS, Shell....

Top Small Cap Gainers: Clean Diesel Tech, Kimber Resources....

Top Small Cap Gainers: As Dow Sets New Highs

Market News: Lawson, Ford, Netflix, UBS, Amazon…

Earnings Report: Local.com, Gartner, Veeco Instruments, Humana, Glu Mobile

Earnings News: Nvidia, Sunpower, Avid Technology, Meridian Bioscience, Agilent, J.C.Penney, California Pizza Kitchen

IPO Scorecard: Update On Selected Initial Stock Offerings

Earnings News: Home Inns, WidePoint, Kohl's, SmartHeat, Macy's, Cisco

Watchlist for 11th November

US HOT STOCKS: Yahoo, Priceline, Netflix, Merge Healthcare, SciClone, Sempra Energy

Web.com Swings To 3Q Profit; Shares Up As Co Pays Debt Early

RiT Technologies Reports Financial Results for the Third Quarter of 2010

IPO Scorecard: Update On Selected Initial Stock Offerings

Melco Crown Entertainment Swings To Third Quarter Profit

Amazon.com 3Q Net Up 16% On Sales Jump; Spending Still Strong

Hot Stocks To Watch: Netflix, eBay, McDonald's, Hershey, Baxter

Top Equities Stories Of The Day

Morgan Stanley reports 3rd quarter loss tied to changing value of bank's own debt

US Economic Growth Continues At Modest Pace

US Stocks Erase Most Of Previous Day's Losses

Delta Air Sees 4Q Profit As Sector Rallies

Altria 3Q Profit Rises 28% Amid Improved Sales

Seagate Tech 1Q Profit Down 17% On Lower Margins

Arena Pharmaceuticals Announces Phase 1 Results for APD916 for Narcolepsy with Cataplexy

IPO Scorecard: Update On Selected Initial Stock Offerings

Verenium Announces Regulatory Approval for Purifine(R) PLC in China

Watchlist for 24th September: Sify, Rediff, Make My Trip, Molycorp, China Realestate Info

Daily News: Blockbuster, Abbott Labs, Microsoft, Starbucks, Facebook, Citigroup, Virgin

Watchlist for 23rd September: Rediff, Virnetx, Origin Agrotech, Radware Ltd, Molycorp, China Precision Steel