Trading for the Masses

08:04 VTAL Vital Images reports EPS in-line, misses on revs; guides FY07 EPS below consensus, revs below consensus (20.10 )

Reports Q3 (Sep) earnings of $0.05 per share, in-line with the Reuters Estimates consensus of $0.05; revenues fell 3.9% year/year to $17.1 mln vs the $18.3 mln consensus. Co issues downside guidance for FY07, sees EPS of $0.05-0.18 vs. $0.27 consensus; sees FY07 revs of $68-72 mln vs. $76.25 mln consensus. Previous guidance was for revenue of $75 million to $80 million and net income of $0.23 to $0.33 per diluted share.
08:04 MLM prelim $2.12 vs $2.04 Reuters consensus; revs $548.9 mln vs $562.98 mln Reuters consensus

08:03 AG sees FY07 $2.10-2.20 vs $1.77 Reuters consensus

08:03 ELMG raises FY07 EPS guidance to $1.05-1.15 vs $1.05 Reuters consensus

08:03 SGP Schering-Plough announces Long-Term Data from a Phase III Trial Show Survival Benefit at Three- and Four-Years in Patients with Glioblastoma multiforme

…
08:03 OPXT Opnext Appoints Gilles Bouchard COO

…
08:03 AXL prelim $0.25 vs $0.24 Reuters consensus; revs $774.3 mln vs $769.7 mln Reuters consensus

08:03 AG prelim $0.80, may not comapre to the $0.30 Reuters consensus; revs $1.61 bln vs $1.36 bln Reuters consensus

08:03 ELMG prelim $0.32 vs $0.27 Reuters consensus; revs $73.1 mln vs $74.04 mln Reuters consensus

08:03 GEHL Gehl upgraded to Outperform from Market Perform at BMO Capital (18.37 )

08:03 TEN prelim $0.39 vs $0.40 Reuters consensus; revs $1.56 bln vs $1.46 bln Reuters consensus

08:02 VTAL sees FY07 $0.05-0.18 vs $0.27 Reuters consensus; sees revs $68-72 mln vs $76.25 mln Reuters consensus

08:02 URZ Uranerz Energy continues to conduct targeted drilling activities designed to facilitate sub-surface geologic mapping

…
08:02 TXRH Texas Roadhouse: Solid Q3 performance and in-line ‘08 guidance trump soft Oct SSS - CIBC (10.78 )

CIBC notes TXRH reported Q3 EPS of +15% to $0.14, $0.01 ahead of firm’s/Street $0.13 est driven by better than expected SSS and restaurant-level margins. Earnings quality relatively high with greater interest expense offsetting lower than expected pre-opening and tax rate. Firm says that while Q3 SSS and traffic both sequentially improved on 1- and 2-year basis, Oct SSS is off to a rough start — up just 0.3%, lapping last Oct’s 3.9% comparison - toughest of quarter. While the Oct slowdown is greater than expected, firm believes it is in line with deceleration seen by casual dining peers. Firm notes TXRH’s better than expected 3Q and in line ‘08 outlook favorably stand out in casual dining landscape that has been littered with earnings and guidance disappointments.
08:02 TTES T-3 Energy Services Announces Acquisition of Energy Equipment Corporation and HP&T Products for $96.4 mln in cash

…
08:02 IT sees FY07 $0.70-0.77, ex-items, vs $0.72 Reuters consensus; sees revs $1.171-1.187 bln vs $1.18 bln Reuters consensus

08:02 AHG prelim $0.48 vs $0.46 Reuters consensus; revs $396.1 mln vs $395.47 mln Reuters consensus

08:01 VTAL prelim $0.05 vs $0.05 Reuters consensus; revs $17.1 mln vs $18.30 mln Reuters consensus

08:01 NCEM Nevada Chemicals reports Q3 EPS of $0.21 vs $0.12 in 3Q06; revs rose 3% YoY to $1.88 mln - no ests (9.84 )

“We are encouraged by our strong third quarter results and find them indicative of the strong gold prices and activities of the mining industry.” While Cyanco’s revenues and earnings are down for the nine month period as compared to 2006, both revenue and earnings gained during the third quarter compared to the prior year as a result of increased margins, average sales price, and spot or short term contract sales. Although raw material prices continue to fluctuate, they have remained comparable in our year over year quarterly results.
08:01 BDY Bradley Pharmaceuticals Announces Definitive Merger Agreement with Nycomed for $20 Per Share in Cash (16.00 )

…
08:01 PEI Pennsylvania R.E.I.T. beats by $0.05, slight miss on revs (36.37 )

Reports Q3 (Sep) funds from operations of $1.16 per share, $0.05 better than the Reuters Estimates consensus of $1.11; revenues rose 0.2% year/year to $112.3 mln vs the $114.2 mln consensus. Co raises its FY07 FFO per share to $3.82-3.87 vs consensus of $3.80.
08:01 ENR prelim $1.03 vs $1.05 Reuters consensus; revs $875.0 mln vs $904.18 mln Reuters consensus

08:01 IT prelim $0.11 vs $0.11 Reuters consensus; revs $273.1 mln vs $266.87 mln Reuters consensus

08:00 RAIL prelim $0.73 vs $0.53 Reuters consensus; revs $162.1 mln vs $140.81 mln Reuters consensus, $145.21 mln First Call

07:59 MER Merrill weighs interim steps as its search goes on - WSJ (67.42 )

WSJ reports as the board of the co canvasses Wall Street for possible successors to Stan O’Neal, one option being discussed is naming a director as nonexecutive chairman on an interim basis, according to a person briefed on the plan. It isn’t clear if the board will name an interim CEO as well or just leave unstated that the co will continue to be run on an interim basis by the mgmt tier below Mr. O’Neal. If that is the case, it would mean that Gregory Fleming, the current co-president who is himself a candidate for the CEO job, is likely to be heavily involved in the day-to-day operations. Bob McCann, currently the firm’s brokerage chief, may eventually gain a larger role in the co as Merrill attempts to right itself after Mr. O’Neal’s weekend fall. Merrill’s other co-president, Ahmass Fakahany, is expected to at some point leave the co and isn’t considered a contender for a senior role. Mr. Fakahany shared oversight over the risk the co took in amassing a huge mortgage-related securities position that helped fuel an $8.4 bln write-down last week.
07:59 S&P futures vs fair value: -7.0. Nasdaq futures vs fair value: -12.5.

The stock market is poised for a lower start. Investors are likely securing profits ahead of tomorrow’s FOMC meeting. For the most part, news is positive this morning. Procter & Gamble (PG), Avon (AVP) and Colgate-Palmolive (CL) either met, or exceeded their third quarter earnings expectations. General Motors (GM) was upgraded, and had its price target raised at UBS. Meanwhile, oil is down 1.4% to $92.29.
07:58 MAS Masco earnings color (23.37 ) -Update-

Reuters Estimats is telling us that an actual of $0.59, ex items is comparable to their consensus of $0.45. See 7:06 comment for the full earnings report.
07:58 BONDX Economic Calendar

Consumer confidence at 10.
07:58 EFJI EFJ reports Q3 (Sep) results, beats on revs (3.21 )

Reports Q3 (Sep) loss of $0.13 per share, may include gains, charges, may not be comparable to the Reuters Estimates consensus of ($0.11); revenues rose 0.6% year/year to $33.7 mln vs the $32.2 mln consensus.
07:58 IMAX Imax upgraded to Buy at Soleil- tgt $7 (4.77 )

07:57 BGFV Big 5 Sports: Q3 preview; valuation more compelling - Nollenberger (17.53 )

Nollenberger reiterates their Neutral rating on BGFV ahead of the co’s 3Q07 earnings release on Thur, Nov 1. While they believe business trends may have remained challenging during the quarter, firm believes the shares are nearing a bottom given the current valuation. Moreover, they believe the co could begin to show stronger operating momentum in 2008 as improved top-line growth helps to drive a resumption in operating margin expansion. Thus, while they are maintaining their Neutral stance at this time, firm believes the shares are beginning to look more attractive to longer-term investors. Firm will be looking for a fundamental catalyst that could help drive a sustained improvement in the share price.
07:57 VLCM Volcom downgraded to Average at Caris (41.83 )

Caris downgrades VLCM to Average from Above Average and cuts their tgt to $33 from $48 following earnings and lowered guidance. The firm says they believe VLCM’s cautious outlook for holiday 2007 reflects what they expect will be the start of consumer spending slowdown that could last well through 2008. The firm does believe VLCM remains a top selling brand at many retailers and is not giving up market share; however, given the slowdown in sell through they believe upside to VLCM’s sales and margin opportunities are limited for the next 3-4 quarters.
07:55 BMS Bemis beats by $0.02, beats on revs; guides Q4 EPS in-line (28.00 )

Reports Q3 (Sep) earnings of $0.40 per share, $0.02 better than the Reuters Estimates consensus of $0.38; revenues rose 0.3% year/year to $905.7 mln vs the $874.8 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.39-0.42 vs. $0.40 consensus.
07:55 CN China Netcom: Telefonica to double its 5% China Netcom stake by yr-end - DJ (62.79 )

DJ reports Telefonica (TEF) is looking to double its 5% stake in CN before the end of the year, Telefonica Chairman Cesar Alierta told reporters Tuesday. “We will probably double the stake in China Netcom before the end of the year”, Alierta said. Telefonica had previously said it wanted to double its stake, but hadn’t specified when it would do so. The move is seen as part of Telefonica’s efforts to solidify its relationship with China Netcom, and improve its foothold in the lucrative Chinese mkt.
07:55 ERTS Electronic Arts: 2Q08 earnings preview - Nollenberger (57.26 )

Nollenberger notes ERTS is scheduled to report its 2Q08 on Thurs, Nov 1. While mgmt has already pre-announced that results would be ahead of expectations, no further details were provided. Firm’s model is unchanged at rev of $900 mln and EPS of $0.18, though they believe results could come in around $925 mln and $0.22. Firm believes the real focus in will be on ERTS’s outlook for the Dec quarter. Having recently pushed out Army of Two into early 2008, many are skeptical that ERTS can achieve the 3Q consensus est of $1.6 bln, reflecting 25% growth. At the very least, firm believes ERTS’s outlook for FY08 will be reaffirmed on the call, and could be raised.
07:55 TRP TransCanada Pipelines says advances Keystone oil pipeline project (40.06 )

Co announces that it continues to make significant progress on the Keystone Pipeline project. Based on strong industry support, the co has entered into contracts or conditionally awarded approximately $3 bln for major materials and pipeline construction contractors and is continuing to secure land access agreements in preparation for the start of construction in the spring of 2008. Based on the increased size and scope of the project and the executed material and service construction contracts, the capital cost of Keystone is expected to be approximately $5.2 bln.
07:54 BMS sees Q4 $0.39-0.42 vs $0.40 Reuters consensus

07:54 BMS prelim $0.40 vs $0.38 Reuters consensus; revs $905.7 mln vs $874.83 mln Reuters consensus

07:52 SLE Sara Lee: Hearing initiated with a Neutral at tier 1 firm (16.20 )

07:52 Q Qwest earnings color (8.18 ) -Update-

Reuters Estimates is telling us that an actual of $0.14 ex items is comparable to their consensus of $0.15. See 7:15 comment for the full earnings report.
07:51 ATHN AthenaHealth: Hearing initiated with a Neutral at tier 1 firm (40.31 )

07:51 SNAK The Inventure Grp reports Q3 EPS of $0.00 vs $0.02 two analyst estimate; reports revs up 44% yr/yr to $17.6 mln vs $22.2 mln two analyst estimate (2.24 )

Co sees Y08 revs of $110-120 mln vs $94.43 mln two analyst estimate. Co sees Q4 results similar to Q3.
07:51 SOHU Sohu.com: Strong Q3 and Q4 justifies recent share advance - Susquehanna (53.53 )

07:50 PER Perot Systems misses by $0.02, reports revs in-line; guides for Q4 (16.08 )

Reports Q3 (Sep) earnings of $0.20 per share, $0.02 worse than the Reuters Estimates consensus of $0.22; revenues were unchanged from the year-ago period at $655 mln. Co issues guidance for Q4, sees EPS of $0.30-0.34, includes benefit of $0.11-0.14, may not be comparable to $0.24 consensus; sees Q4 revs of $700-715 mln, includes $45 mln of Triad termination-related revenue may not be comparable to $679.81 mln consensus.
07:49 AMMD American Medical downgraded to Market Perform from Outperform at Piper Jaffray (16.98 ) -Update-

07:49 COCO Corinthian Colleges reports EPS in-line, beats on revs; guides Q2 EPS in-line, revs above consensus; reaffirms FY08 EPS guidance, guides FY08 revs above consensus (15.47 )

Reports Q1 (Sep) earnings of $0.05 per share, in-line with the Reuters Estimates consensus of $0.05; revenues rose 11.4% year/year to $247.5 mln vs the $243.4 mln consensus. Co issues guidance for Q2, sees EPS of $0.09-0.11 vs. $0.11 consensus; sees Q2 revs of $265-270 vs. $260.72 mln consensus. Co issues guidance for FY08, reaffirms EPS of $0.40-0.45 vs. $0.42 consensus; sees FY08 revs of $1.050-1.070 bln, compared to previous guidance of $1.040-1.060 bln, vs. $1.03 bln consensus.
07:48 BYD Boyd Gaming: Nollenberger believes BYD’s EPS likely to miss expectations, but hit low end of guidance (39.94 ) -Update-

Nollenerger notes BYD report 3Q07 results on Wed, Oct 31. Firm expects BYD to report results at the low end of the EPS guidance range of $0.40-0.45. They believe the Las Vegas locals market remained very promotional throughout the quarter, led by Red Rock and South Point. Firm believes BYD had to increase promotional and marketing spending to remain competitive. Blue Chip’s Aug and Sept gaming wins fell over 13% and 22% Y/Y, reflecting the opening of the tribal casino, Four Winds, only 10 miles away. They expect to see declines in gaming win over the next few quarters.
07:48 PER sees Q4 $0.30-0.34, includes benefits, may not be comparable vs $0.24 Reuters consensus; sees revs $700-715 mln

07:47 ABT Abbott Labs hit with another Norvir lawsuit - WSJ (54.45 )

WSJ reports four big pharmacy chains and one pharmaceutical wholesaler filed a lawsuit against the co, alleging the drug maker abused its monopoly in the mkt for AIDS drugs when it raised the price of one of its products fivefold in 2003. Abbott has already been sued by two AIDS patients and the Service Employees International Union Health and Welfare Fund. That suit, in U.S. District Court in Oakland, Calif., has class-action status and is scheduled to go to trial in June.
07:46 PER prelim $0.20 vs $0.22 Reuters consensus; revs $655 mln vs $657.90 mln Reuters consensus

07:46 SAF SAFECO misses by $0.03 (60.09 )

Reports Q3 (Sep) earnings of $1.51 per share, excluding non-recurring items, $0.03 worse than the Reuters Estimates consensus of $1.54.
07:46 COCO sees FY08 $0.40-0.45 vs $0.42 Reuters consensus; sees revs $1.050-1.070 bln vs $1.03 bln Reuters consensus

07:46 WIRES On The Wires

Syntax-Brillian (BRLC) announces it has secured a five-year $250 mln senior secured credit facility arranged by Silver Point Finance, with additional lending commitments from Citi (C), C.I.T., Wells Fargo Foothill (WFC), and Wachovia (WB)… Odyssey Marine Exploration (OMEX) announces that online games promoting National Treasure: Book of Secrets feature OMEX’s shipwreck exploration operations and SS Republic shipwreck site.
07:46 SAF prelim $1.51, ex items vs $1.54 Reuters consensus, $1.55 First Call

07:46 COCO sees Q2 $0.09-0.11 vs $0.11 Reuters consensus; sees revs $265-270 mln vs $260.72 mln Reuters consensus

07:45 COCO prelim $0.05 vs $0.05 Reuters consensus, $0.04 First Call; revs $247.5 mln vs $243.39 mln Reuters consensus

07:44 PWAV Powerwave: Good execution on the cost side; visibility remains poor - Broadpoint Capital (6.19 ) -Update-

Broadpoint Capital notes PWAV reported 3Q07 revs of $200.7 mln fell short of the consensus of $203 mln; the pro forma loss per share of $0.08 was in line with the consensus. Firm tweaks their 2007 rev est to $771 mln from $763 mln and lowered their EPS loss est to $0.46 from $0.48. For 2008, they adjusted their rev est to $856 mln from $847 mln and maintained their EPS est of $0.05.
07:42 CRDN Ceradyne reports Q3 (Sep) results, beats on revs; reaffirms FY07 EPS guidance, revs guidance; guides FY08 EPS above consensus, revs in-line (69.71 )

Reports Q3 (Sep) earnings of $1.16 per share, may not be comparable to the Reuters Estimates consensus of $1.36; revenues rose 3.1% year/year to $191.6 mln vs the $189.2 mln consensus. Gross profit margins increased to 39.6% of net sales in third-quarter 2007 from 38.0% in third-quarter of 2006. New bookings for third quarter 2007 were $163.6 million, compared to $138.3 million for the same period last year. Co reaffirms guidance for FY07, sees EPS of $5.20-5.40 vs. $5.48 consensus; sees FY07 revs of $720-740 mln vs. $755.30 mln consensus. Co issues mixed guidance for FY08, sees EPS of $5.60-6.65 vs. $5.48 consensus; sees FY08 revs of $780-1067 mln vs. $815.72 mln consensus…. Commentary on BULL program which co is partnered with OshKosh Truck Co: “We anticipate a response from the government in late 2007 or first quarter 2008. If there is a positive response, we anticipate a modest order with deliveries in early 2008. As the process continues, more substantive production orders could be issued with deliveries in the second half of 2008.
07:42 ADP Automatic Data beats by $0.02, beats on revs; guides FY08 EPS to high end of prior guidance (47.18 )

Reports Q1 (Sep) earnings of $0.45 per share, $0.02 better than the Reuters Estimates consensus of $0.43; revenues rose 13.5% year/year to $1.99 bln vs the $1.97 bln consensus. Co issues upside guidance for FY08, sees EPS at high end of prior $2.12-2.18 guidance vs. $2.16 consensus; now sees FY08 rev growth of 12-13%, up from 12% prior guidance. This now equates to FY08 revs of $8.74-8.81 bln vs. $8.67 bln consensus.
07:41 DRYS DryShips: Jon Najarian highlights DRYS options trading, says probably not takeover related activity but more of a continuation of positive notes they’ve been putting out every qtr (130.97 )

07:41 JAH Jarden beats by $0.10, reports revs in-line (34.10 )

Reports Q3 (Sep) earnings of $0.80 per share, excluding non-recurring items, $0.10 better than the Reuters Estimates consensus of $0.70; revenues rose 28.0% year/year to $1.32 bln vs the $1.33 bln consensus.
07:40 DXYN Dixie Group misses by $0.05, reports revs in-line (9.50 )

Reports Q3 earnings of $0.17 per share, $0.05 worse than the Reuters Estimates consensus of $0.22; revenues fell 1.4% year/year to $82.4 mln vs the $83.1 mln consensus.
07:39 GKSR G&K Svcs beats by $0.04, reports revs in-line; guides Q2 EPS in-line, revs above consensus (39.09 )

Reports Q1 (Sep) earnings of $0.58 per share, $0.04 better than the Reuters Estimates consensus of $0.54; revenues rose 9.3% year/year to $243.8 mln vs the $241.8 mln consensus. Co guides for Q2, sees EPS of $0.53-0.57 vs. $0.55 consensus; sees Q2 revs of $252-255 mln vs. $248.71 mln consensus.
07:39 SAH Sonic Automotive reports EPS in-line, misses on revs; reaffirms FY07 EPS guidance; authorizes additional $40 mln for share repurchase (22.84 )

Reports Q3 (Sep) earnings of $0.70 per share, in-line with the Reuters Estimates consensus of $0.70; revenues rose 5.7% year/year to $2.19 bln vs the $2.23 bln consensus. Co reaffirms guidance for FY07, sees EPS of $2.50-2.60 vs. $2.56 consensus. Co’s Board of Directors has authorized an additional $40 mln to be used in the co’s ongoing share repurchase program.

07:39 MF MF Global beats by $0.06, beats on revs (31.53 )

Reports Q2 (Sep) earnings of $0.42 per share, $0.06 better than the Reuters Estimates consensus of $0.36; revenues rose 45.9% year/year to $1.88 bln vs the $1.48 bln consensus. “While the unprecedented volatility that the market experienced this summer may moderate, we are confident MF Global’s balanced business across customers, geographies, and markets will provide the foundation for continued strong growth well into the future.”
07:38 ONNN ON Semiconductor misses by $0.02, beats on revs; guides Q4 revs below consensus (12.19 )

Reports Q3 (Sep) earnings of $0.20 per share, $0.02 worse than the Reuters Estimates consensus of $0.22; revenues fell 4.3% year/year to $402.9 mln vs the $398.8 mln consensus. Co sees Q4 revs flat to +2% or roughly $402.9-411 mln vs $417.2 mln consensus.
07:37 BEBE bebe stores: Expects FY 1Q08 in-line; conservative outlook and ongoing negative comps - FBR (14.51 )

Friedman Billings notes on Nov 1, 2007 , BEBE will report its FY 1Q08 earnings. Firm believes the co ill come in towards the middle of previously issued guidance of $0.15 to $0.19. Firm is at $0.17 for the quarter, and the Street consensus is $0.17. Bebe may comment on Oct business, which firm expects to be soft given the weather issues and heavy exposure to California; however, they believe comps may show slight improvement over the co’s 1Q08’s -9.3% comp performance given the easing compares the co is facing. Firm believes that mgmt will likely guide FY 2Q08 to another wide range of ests in the low to mid $0.20 range.
07:37 VZ Verizon upgraded to Market Perform from Underperform at Raymond James (45.99 )

07:36 AMMD American Medical downgraded to Market Perform from Outperform at Raymond James (16.98 )

07:36 SKS Saks: Baugur Group discloses 8.5% stake in SC 13D/A; looking to acquire the co (19.79 )

In filing, after the close last night, the firm states “After purchasing the shares and becoming more familiar with the Issuer, including through meetings with members of the Issuer’s management, Baugur determined that it would like to explore the possibility of making a proposal for the acquisition of the Issuer. In furtherance of the foregoing, Baugur has had exploratory discussions with Milestone Resources Group Limited (Landmark), which is currently a shareholder of the Issuer and principally owned by Micky Jagtiani, the principal owner of the Landmark Group, to explore the possibility of making a joint proposal with Landmark and/or one or more affiliates of Landmark for the acquisition of the Issuer.”
07:36 SINT SI International reports EPS in-line, revs in-line; guides Q4 EPS below consensus, revs below consensus (30.00 )

Reports Q3 (Sep) earnings of $0.33 per share, in-line with the Reuters Estimates consensus of $0.33; revenues rose 17.7% year/year to $141.1 mln vs the $140.9 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.39-0.40 vs. $0.41 consensus; sees Q4 revs of $139-142 mln vs. $144.07 mln consensus.
07:35 EOG EOG Resources upgraded to Outperform from Market Perform at Raymond James (82.51 )

07:35 ENZN Enzon beats by $0.01, misses on revs (9.71 )

Reports Q3 (Sep) loss of $0.03 per share, excluding non-recurring items, $0.01 better than the Reuters Estimates consensus of ($0.04); revenues rose 2.0% year/year to $46.8 mln vs the $48.2 mln consensus.
07:35 CP Canadian Pacific sees FY08 EPS of $4.70-4.85 vs $4.94 Reuters consensus (70.46 )

Co sees FY08 EPS of $4.70-4.85 vs $4.94 Reuters consensus; this is an increase of nine per cent to 13 per cent over $4.30, the lower end of the 2007 earnings guidance range (consensus is for 2007 EPS of $4.35). CP expects to grow total revenue by 4-6% in 2008 and total operating expenses are expected to increase by 3-5%. Capital investment is expected to be in the range of $885-895 mln in 2008, essentially flat from anticipated capital spending in 2007. CP expects free cash to be in excess of $250 mln in 2008.
07:34 FPL FPL Group beats by $0.01, misses on revs (67.11 )

Reports Q3 (Sep) earnings of $1.23 per share, $0.01 better than the Reuters Estimates consensus of $1.22; revenues fell 2.5% year/year to $4.58 bln vs the $4.69 bln consensus.
07:34 ADP sees FY08 at high end of $2.12-2.18 vs $2.16 Reuters consensus

07:34 FSRV FirstService beats by $0.02, beats on revs; reaffirms FY08 EPS guidance, revs guidance (36.27 )

Reports Q2 (Sep) earnings of $0.46 per share, excluding non-recurring items, $0.02 better than the Reuters Estimates consensus of $0.44; revenues rose 26.3% year/year to $427.7 mln vs the $417.6 mln consensus. Co reaffirms guidance for FY08, sees EPS of $1.37-1.49 vs. $1.46 consensus; sees FY08 revs of $1.625-1.725 bln vs. $1.7 bln consensus.
07:33 FPL prelim $1.23 vs $1.22 Reuters consensus, $1.23 First Call; revs $4.69 bln vs $4.69 bln Reuters consensus

07:33 FSRV sees FY08 $1.37-1.49 vs $1.46 Reuters consensus; sees revs $1.625-1.725 bln vs $1.70 bln Reuters consensus

07:33 CRDN sees FY08 $5.60-6.65 vs $5.48 Reuters consensus; sees revs $780-1067 mln vs $815.72 mln Reuters consensus

07:33 PRXI Premier Exhibitions says to move for salvage award for its Titanic recovery efforts (11.19 ) -Update-

Co, through its wholly owned subsidiary RMS Titanic, announces that it will move the United States District Court for the Eastern District of Virginia, Norfolk Division for a salvage award as compensation for its recovery efforts to date in recovering approximately 3700 artifacts from the wreck of the RMS Titanic during its expeditions conducted in 1993, 1994, 1996, 1998, 2000 and 2004. The motion for a salvage award has no bearing on the approximately 1800 artifacts recovered by RMST in its first expedition to the wreck of the RMS Titanic in 1987, for which title rests with RMST pursuant to a 1993 decree from a French maritime tribunal which gave it an in specie salvage award for all of those artifacts.
07:32 FSRV prelim $0.46 vs $0.44 Reuters consensus; revs $427.7 mln vs $417.61 mln Reuters consensus

07:32 ADP prelim $0.45 vs $0.43 Reuters consensus; revs $1.99 bln vs $1.97 bln Reuters consensus

07:32 GKSR sees Q2 $0.53-0.57 vs $0.55 Reuters consensus; sees revs $252-255 mln vs $248.71 mln Reuters consensus

07:32 CRDN reaffirms FY07 $5.20-5.40 vs $5.48 Reuters consensus; sees revs $720-740 mln vs $755.30 mln Reuters consensus

07:32 AMSC Am Superconductor has formed new division known as AMSC China to serve growing wind energy, power grid and industrial markets in China (27.92 )

Co announces that it has formed a new division known as “AMSC China” to serve the wind energy, power grid and industrial markets in China. The co recently received an enterprise business license from the Chinese government to form a Wholly Foreign Owned Enterprise in Suzhou National New and Hi-Tech Industrial Development Zone, located 80 kilometers west of Shanghai. The business license allows for domestic manufacturing and sales of AMSC’s proprietary power electronics and superconductor products. AMSC also has expanded its sales and field service office in Beijing to support and grow its business in China and the broader Asia-Pacific region.
07:32 ROP Roper Inds: Friedman Billings increases ests and tgt (68.41 )

Friedman Billings notes on Oct 26, ROP held its Q07 conf call, after reporting 3Q07 EPS of $0.70, lower than their $0.72 est and better than the consensus est of $0.69. ROP increased its 2007 EPS guidance to $2.63-$2.67 from $2.60-$2.66. Firm is increasing their 2007 EPS est to $2.67 from $2.66, their 2008 EPS est to $3.20 from $3.15, and their DCF-based tgt to $67 from $66 per share. Firm believes that ROP will continue to benefit from its presence in the secular growth markets of RF solutions, energy, water, medical, and research.
07:32 SINT sees Q4 $0.39-0.40 vs $0.41 Reuters consensus; sees revs $139-142 mln vs $144.07 mln Reuters consensus

07:31 GKSR prelim $0.58 vs $0.54 Reuters consensus; revs $243.8 mln vs $241.77 mln Reuters consensus

07:31 PRXI Premier Exhibitions Announces 1 mln Share Repurchase Authorization

07:31 MF prelim $0.42 vs $0.36 Reuters consensus; revs $1.88 bln vs $1.48 bln Reuters consensus

07:31 SINT prelim $0.33 vs $0.33 Reuters consensus; revs $141.1 mln vs $140.88 mln Reuters consensus

07:31 ITT ITT Industries: Raising 2007 ests - FBR (66.11 )

Friedman Billings notes ITT reported 3Q07 EPS of $0.92, which is better than their $0.90 est. Firm raises their 2007 EPS est from $3.50 to $3.53 and are maintaining their 2008 EPS est of $4.15 and their DCF-based price target of $69 per share. ITT’s fundamentals remain strong, benefiting from secular growth in defense and water/wastewater businesses and a solid performance in motion and flow control.
07:31 CRDN prelim $1.16, includes items and is not comparable to $1.36 Reuters consensus; revs $191.56 mln vs $189.15 mln Reuters consensus

07:31 TDC Teradata initiated with a Buy at Keybanc- tgt $36 (27.83 )

07:31 ONNN prelim $0.20 vs $0.22 Reuters consensus; revs $402.9 mln vs $398.78 mln Reuters consensus

07:31 GNLB Genelabs Technologies announces appointment of Frederick Driscoll as Chief Financial Officer (1.97 )

07:30 ENZN prelim ($0.03) vs ($0.04) Reuters consensus, ($0.05) First Call; revs $46.8 mln vs $48.20 mln Reuters consensus

07:30 BLDR Builders Firstsource President and Chief Operating Officer announces resignation (8.67 )

Co announces that Kevin O’Meara has resigned as the President and Chief Operating Officer of Builders First Source effective yesterday. The co has no plans to fill the position at this time.
07:30 LVS Las Vegas Sands downgraded to Market Perform from Outperform at BMO Capital- based on valuation (144.15 )

07:30 SUPG SuperGen: 3Q07 overview - Rodman & Renshaw (4.16 )

Rodman & Renshaw notes SUPG reported results for 3Q07. In 3Q07, Dacogen sales were $34.6 mln as reported by SUPG’s partner, MGI Pharma (MOGN). Firm projects 4Q07 Dacogen sales at $32 mln. The slowdown in 4Q07 reflects their assumption that recently announced positive survival data for Dacogen’s competitor, Vidaza, may cause Dacogen sales to stagnate near-term. MOGN guided for 2007 Dacogen sales of at least $115 mln; they now project $120 mln. SUPG guides for royalty rev of $22 mln on 2007 Dacogen sales.
07:30 JAH prelim $0.94, ex items, may not comapre to the $0.70 Reuters consensus; revs $1.3 bln vs $1.33 bln Reuters consensus

07:29 PWAV Powerwave: Pre-announces 2Q08 earnings miss; believes impact is related to competitors’ woes - Merriman (6.19 )

Baird notes PWAV’s rev was a little lower than they expected and EPS breakeven appears pushed out due to slower rev ramp and weaker gross margin profile. Additionally, mgmt’s Q4 targets for balance sheet and cash flow improvements appear too aggressive. Firm maintains ‘08E rev but lowering estimated EPS due to slower cost reductions. They expect stock to trade down. Maintain Outperform rating as fundamentals have likely bottomed, but lower price target to $7.
07:29 SWHC Smith & Wesson: Pre-announces 2Q08 earnings miss; believes impact is related to competitors’ woes - Merriman (20.09 )

Merriman notes SWHC announced that Q2 revs will come in at $69-71 mln vs. previous guidance of $82 mln with EPS of $0.05-0.07 vs. the consensus est of $0.12. Firm believes SWHC is poised to move beyond the core consumer handgun market that has provided most of its 154-year-old history. Firm believes the entry into the military and law enforcement channels, coupled with new product extensions, should drive increasing sales and profitability (leveraging fixed manufacturing) and multiple expansion as the ultimate opportunity expands.
07:28 MSPD Mindspeed: Solid 4Q07 results and outlook position MSPD for meaningful EPS growth - Merriman (1.68 )

Merriman believes MSPD’s 4Q07 results and outlook go a long way towards validating the co’s new operating model and its ability to drive meaningful EPS growth. With gross margins within sight of the 70% level and operating expense under control, firm believes MSPD will turn cash flow positive and deliver sustained profitability in FY08, driven mainly by growth in HPA and VoIP. Despite strong fundamentals and the resolution of customer inventory issues, firm finds MSPD shares trading at modest multiples and believe MSPD is capable of significant multiple expansion and share price appreciation.
07:27 KONA Kona Grill: Solid 3Q07 results in tough environment; lowering ests on near-term comp impacts and lower FY08 openings - Merriman (18.20 )

Merriman notes KONA reported 3Q07 revs of $19.2 mln came in-line with their est of $19.2 mln and above the consensus est of $18.9 mln. EPS came in at $0.07 compared to their est of $0.03 and the consensus est of $0.00. Firm believes KONA is in the very early stages of a successful growth strategy within the casual dining space. Firm is lowering their FY07/ FY08/FY09 rev ests to $73 mln, $93 mln and $125 mln from $74 mln, $103 mln and $135 mln, respectively.
07:26 DLIA Delia*s: Broadpoint Capital lowering ests (3.40 )

Broadpoint Capital says based on recent store visits and e-mail promotions, they believe that DLIA’s has been very promotional in Oct. A recent week-long e-mail promotion offered 15% off an entire purchase from the Web site or over the phone. In dELiA*s stores, firm has seen buy one/get one half off on all pants and logo tees, as well as 20% off outerwear and an additional 30% off clearance merchandise. Firm is lowering their EPS est for 3Q07 to $0.10 from $0.13 and their 4Q07 EPS est to $0.21 from $0.24, based on lower sales assumptions, increased promotional activity, and de-leveraging of SG&A expenses as a percentage of sales in both the retail and direct divisions. Firm’s FY07 EPS est is now $0.06, down from $0.13. They also lowered their FY08 EPS est to $0.18 from $0.20.
07:26 NSTK Nastech Pharm: 3Q07 loss greater than forecast, clinical progress reported - FBR (14.85 )

Friedman Billings notes NSTK reported a loss per share for 3Q07 of $0.66, somewhat greater than their expectations for a loss of $0.51 and $0.22 higher than the consensus expectation for a loss of $0.44. A rev shortfall of $3.7 mln compared to their expectation accounted for the miss as their expense forecast was in line with actual results in the quarter. Firm anticipates higher sequential spending on R&D in 4Q07 as the funding needs for the intranasal insulin and PYY clinical trials increase. Although mgmt was not specific with regard to the timing of additional PTH clinical work, they have removed receipt of a $5 mln milestone payment to NSTK from P&G that firm had previously included in their 4Q07 forecast. Firm is raising their loss per share est for 2007 to $2.26 from $1.96. For 2008 they increase their loss per share est to $1.20 from $1.01.
07:26 NXG Northgate Minerals upgraded to Sector Perform at CIBC- tgt $3.80 (3.10 )

CIBC upgrades NXG to Sector Perform from Underperform and raises their tgt to $3.80 from $3.35 noting Northgate announced that it is acquiring Perseverance, an Australian gold producer, for total cash consideration of $257 mln. The firm believes the acquisition is positive as it should partially alleviate NXG’s production decline prior to the ramp up of its Young-Davidson operation, the assets are located in a low political risk jurisdiction with established infrastructure and there is the possibility of further resource expansion.
07:25 IVC Invacare earnings color (24.54 ) -Update-

Reuters Estimates is telling us that an actual of $0.34, ex items is comparable to their consensus of $0.31. See 7:17 comment for the full report.
07:25 MC Matsushita posts surprise profit gain on cameras - Reuters (18.18 )

Reuters reports the co posted a surprise 3% gain in quarterly operating profit on cost cuts and strong sales of cameras and TVs, but cited fears about the U.S. economy and kept its full year outlook unchanged. Matsushita has enjoyed brisk global demand for digital cameras and it has also profited from growing plasma TV sales as consumers trade in their boxy old tube sets for thin screens. The co said the profit gain was helped by a weaker yen and cost-cutting as it moved to offset soaring price of crude oil and other raw materials. Group operating profit at Matsushita was 146.1 bln yen in July-September, up from 142.27 bln yen a year earlier and handily beating a consensus of 135.4 bln yen in a survey of three analysts ests.
07:23 NHY Norsk Hydro ASA reports Q3 revs NOK 22.06 mln vs NOK 24.93 mln Reuters consensus; EPS NOK 2.10 vs 2.00 in yr ago period (15.85 )

07:22 X U.S. Steel misses by $0.13, reports revs in-line (112.50 )

Reports Q3 (Sep) earnings of $2.50 per share, excluding non-recurring items, $0.13 worse than the Reuters Estimates consensus of $2.63; revenues rose 6.0% year/year to $4.35 bln vs the $4.36 bln consensus. Co says “We expect a decline in overall results for Q4 mainly due to normal seasonal effects and several scheduled blast furnace outages. North American flat-rolled inventories and imports are at relatively low levels and over time the weaker US currency should favor many of our steel-consuming customers. In Europe, steel consumption remains healthy; however, high imports, particularly from China, and high service center inventories are resulting in some pressure on spot prices and order rates…For Flat-rolled, Q4 results are expected to decrease from Q3 due primarily to lower shipments and higher raw material, outage and modernization-related costs. Prices are expected to remain in line with Q3.”
07:21 SLF Sun Life reports Q3 EPS of $1.01 vs $1.00 consensus; co reports revs of $5.7 bln vs $6.6 bln in yr ago period (55.35 )

07:20 Wachovia initiates select Oil and Gas stocks

Wachovia initiates coverage of select Oil and Gas stocks. The firm initiates Quicksilver Gas Services (KGS) and Martin Midstream (MMLP) with Outperforms. The firm also initiates Teekay Offshore (TOO) and Holly Energy Partners (HEP) with Market Performs. Wachovia also transfers coverage of Transmontaigne Partners (TLP) with an Outperform. The firm transfers coverage of Teekay LNG Partners (TGP) and upgrades to Outperform from Market Perform saying the recent pullback in the unit price has led to a more attractive valuation.
07:20 CL Colgate-Palmolive beats by $0.01, beats on revs (74.26 )

Reports Q3 (Sep) earnings of $0.86 per share, excluding non-recurring items, $0.01 better than the Reuters Estimates consensus of $0.85; revenues rose 12.2% year/year to $3.53 bln vs the $3.47 bln consensus. “As we look to the balance of the year we are confident that the strong top-line growth will continue, driven by our very full new product pipeline with an array of impactful, integrated marketing campaigns to support them. We expect gross profit margin, excluding restructuring charges, to be up within our targeted range of 75 to 125 basis points for this year and next year as well, as a result of our ongoing cost-savings initiatives, the benefits from restructuring, efficiencies in promotional programs and a continued shift towards higher-margin products.”
07:20 HERO Hercules Offshore beats by $0.08, misses on revs (25.76 )

Reports Q3 (Sep) earnings of $0.61 per share, $0.08 better than the Reuters Estimates consensus of $0.53; revenues rose 202.9% year/year to $294.4 mln vs the $299.4 mln consensus.
07:19 ITY Imperial Tobacco says full-year profit rose 6.3% - Intl Herald Tribune (101.06 )

Intl Herald Tribune reports the co said fiscal full-year profit rose 6.3% with a boost from its recent acquisition in the United States. The co reported net profit of 912 mln pounds($1.88 bln) for the year ended Sept. 30, compared with 858 mln pounds in the previous 12 months. Sales gained 5.7% to 12.33 bln pounds ($25.4 bln). Cigarette volume rose 7% to 200 bln, boosted by a six-month contribution from the acquisition of Commonwealth Brands in the United States.
07:17 LIZ Liz Claiborne misses by $0.04, misses on revs; guides FY07 EPS below consensus (28.35 )

Reports Q3 (Sep) earnings of $0.63 per share, excluding non-recurring items, $0.04 worse than the Reuters Estimates consensus of $0.67; revenues fell 3.9% year/year to $1.26 bln vs the $1.31 bln consensus. Co issues downside guidance for FY07, sees EPS of $1.70-1.80, excluding non-recurring items, compared to previous guidance of $1.90-2.00, vs. $1.95 consensus; co sees revs in the low single digits yr/yr.
07:17 IVC Invacare reports Q3 (Sep) results, beats on revs; guides FY07 EPS in-line (24.54 )

Reports Q3 (Sep) earnings of $0.36 per share, may not be comparable to the Reuters Estimates consensus of $0.31; revenues rose 7.3% year/year to $407.3 mln vs the $393.1 mln consensus. Co issues in-line guidance for FY07, sees EPS of $0.95-1.05, excluding non-recurring items, vs. $0.96 consensus.
07:16 VPHM ViroPharma misses by $0.02, misses on revs (9.44 )

Reports Q3 (Sep) earnings of $0.26 per share, $0.02 worse than the Reuters Estimates consensus of $0.28; revenues fell 7.8% year/year to $50.9 mln vs the $52 mln consensus. For the year 2007, the co anticipates the following: 1) net product sales are expected to be between $202-$208 mln; 2) gross margin rate for Vancocin is expected to be consistent with our actual results in the first nine months of 2007; 3) R&D and marketing, general and administrative expenses, excluding the impact of SFAS 123R, are expected to be between $68 to $73 mln.
07:16 HSII Heidrick & Struggles beats by $0.15, beats on revs; guides FY07 revs in-line (39.71 )

Reports Q3 (Sep) earnings of $0.84 per share, $0.15 better than the Reuters Estimates consensus of $0.69; revenues rose 30.7% year/year to $162.9 mln vs the $145.5 mln consensus. Co issues in-line guidance for FY07, sees FY07 revs of $600-610 mln vs. $591.02 mln consensus, up from its previous guidance of $580-595 mln provided in July 2007. This updated guidance represents growth in net revenue over 2006 levels of approximately 25-27% and reflects the company’s goal to accelerate revenue growth compared to recent years. The company continues to target a 2007 full-year operating margin of approximately 13%.
07:15 Q Qwest reports Q3 (Sep) results, misses on revs (8.18 )

Reports Q3 (Sep) earnings of $1.08 per share, includes charges and gains, may not be comparable to the Reuters Estimates consensus of $0.15; revenues fell 1.5% year/year to $3.43 bln vs the $3.49 bln consensus.
07:14 LCAV LCA Vision beats by $0.02, misses on revs; issues downside Q4 guidance (28.11 )

Reports Q3 (Sep) earnings of $0.51 per share, $0.02 better than the Reuters Estimates consensus of $0.49; revenues rose 33.7% year/year to $74.6 mln vs the $78 mln consensus. Co sees Q4 EPS to be significantly below $0.27 in yr ago period, vs $0.50 consensus; co also suspending rev guidance. “While we remain confident in the company’s long-term growth prospects, in the near-term we face an uncertain business environment. Notably, the percentage of pre-operative eye exams we are able to convert into treated patients has declined and is impacting our ability to accurately forecast conversion rates. At the same time, macroeconomic trends and consumer sentiment are weakening, which gives us concern for the short-term.”
07:14 WIRES On The Wires

Scientific Learning (SCIL) announces that Neuroscience Learning will be the exclusive distributor in South Korea for the Fast ForWord family of products, educational software that accelerates learning by developing the student brain to process more efficiently… Abaxis (ABAX) announces that Central Scientific Commerce has signed an exclusive distribution agreement to distribute the complete line of ABAX medical and veterinary products in Japan… Main Street Capital (MAIN) announces that it realized a $2.3 mln gain, including structuring fees, from the sale of its portfolio company All Hose & Specialty, to G.H.X. Industrial, a portfolio co of private equity firm The CapStreet Group.
07:13 UA Under Armour beats by $0.06, beats on revs; guides FY07 (Dec) revs in-line (58.73 )

Reports Q3 (Sep) earnings of $0.40 per share, $0.06 better than the Reuters Estimates consensus of $0.34. Gross margin for the third quarter of 2007 remained steady at 50.6% compared to 50.6% in the prior year. The co still expects to invest in its marketing budget at the high-end of the range of 10% to 12% of net revenues for the full year. Co issues in-line guidance for FY07 (Dec), sees FY07 (Dec) revs of $590-$600 (vs. $595.94 mln consensus), up from previous guidance of $580-$590 mln. UA believes net revs and income from operations for 2008 will exceed long-term growth tgts of 20-25%. In support of certain key growth initiatives, the co expects to increase its investment in marketing from the historical 10% to 12% of net revs to 12%-13% of net revs for the full year in 2008.
07:12 TRW TRW Automotive misses by $0.05, beats on revs; guides FY07 EPS below consensus, revs above consensus (31.17 )

Reports Q3 (Sep) earnings of $0.22 per share, $0.05 worse than the Reuters Estimates consensus of $0.27; revenues rose 15.9% year/year to $3.5 bln vs the $3.32 bln consensus. Co issues mixed guidance for FY07, sees EPS of $2.10-2.30 vs. $2.36 consensus; sees FY07 revs of $14500 vs. $14.16 bln consensus.
07:12 PG Procter & Gamble reports EPS in-line, revs in-line; guides Q2 EPS in-line; guides FY08 EPS in-line (71.83 )

Reports Q1 (Sep) earnings of $0.90 per share, in-line with the Reuters Estimates consensus of $0.90; revenues rose 7.5% year/year to $20.2 bln vs the $20.25 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.95-0.97 vs. $0.96 consensus; sees Q2 organic sales +4-6%. Co issues in-line guidance for FY08, sees EPS of $3.46-3.49 up from $3.44-3.37 prior guidance vs. $3.47 consensus.
07:12 GPI Group 1 Auto misses by $0.17, misses on revs; guides FY07 EPS below consensus (32.40 )

Reports Q3 (Sep) earnings of $0.95 per share, excluding non-recurring items, $0.17 worse than the Reuters Estimates consensus of $1.12; revenues rose 3.7% year/year to $1.66 bln vs the $1.73 bln consensus. Co issues downside guidance for FY07, sees EPS of $3.45-3.60, compared to previous guidance of $3.75-4.05, vs. $3.77 consensus; sees negative same-store rev growth of 2-3%.
07:11 X says “We expect a decline in overall results for the fourth quarter mainly due to normal seasonal effects and several scheduled blast furnace outages.

07:11 SEPR Sepracor beats by $0.11, misses on revs; guides FY07 EPS below consensus, revs in-line; guides FY08 EPS above consensus (23.02 )

Reports Q3 (Sep) earnings of $0.37 per share, $0.11 better than the Reuters Estimates consensus of $0.26; revenues fell 1.9% year/year to $283.9 mln vs the $289.7 mln consensus. Co issues mixed guidance for FY07, sees EPS of $1.05-$1.15 vs. $1.40 consensus; sees FY07 revs of $1.23-$1.30 bln vs. $1.25 bln consensus. Co issues upside guidance for FY08, sees EPS of $2.34-$2.45 vs. $1.83 consensus. Co states that planned reduction in sales and marketing expenses are approximately $90-$100 mln for 2008, including an anticipated reduction of approx 300 sales force positions.
07:10 AMED AMEDISYS beats by $0.05, beats on revs; guides FY07 EPS above consensus, revs in-line; guides FY08 EPS above consensus, revs in-line (36.65 )

Reports Q3 (Sep) earnings of $0.61 per share, excluding non-recurring items, $0.05 better than the Reuters Estimates consensus of $0.56; revenues rose 32.0% year/year to $180.9 mln vs the $175.5 mln consensus. Co issues mixed guidance for FY07, sees EPS of $2.25-2.30, excluding non-recurring items, vs. $2.22 consensus; sees FY07 revs of $675-690 mln vs. $686.31 mln consensus. Co issues mixed guidance for FY08, sees EPS of $2.50-2.60, excluding non-recurring items, vs. $2.35 consensus; sees FY08 revs of $800-825 mln vs. $809.99 mln consensus.
07:10 HEP Holly Energy Partners beats by $0.02, reports revs in-line (47.67 )

Reports Q3 (Sep) earnings of $0.61 per share, $0.02 better than the Reuters Estimates consensus of $0.59; revenues rose 18.9% year/year to $27.2 mln vs the $27.2 mln consensus.
07:09 X prelim $2.50 ex items vs $2.63 Reuters consensus; revs $4.35 bln vs $4.36 bln Reuters consensus

07:09 STE Steris reports EPS in-line, revs in-line; reaffirms FY08 guidance (28.93 )

Reports Q2 (Sep) earnings of $0.26 per share, excluding non-recurring items, in-line with the Reuters Estimates consensus of $0.26; revenues rose 4.0% year/year to $295 mln vs the $296.3 mln consensus. Co reaffirms guidance for FY08, sees EPS of $1.35-1.45 vs. $1.40 consensusl; reaffirms revenue growth guidance for FY08 of 4-6%.
07:08 AVP Avon Products reports EPS in-line, beats on revs (39.07 )

Reports Q3 (Sep) earnings of $0.32 per share, in-line with the Reuters Estimates consensus of $0.32; revenues rose 14.1% year/year to $2.35 bln vs the $2.29 bln consensus. For full-year 2007, we remain on track to our targeted spending of $375 million in advertising and an incremental $100 million in Representative Value Proposition initiatives.
07:08 WEC Wisconsin Energy beats by $0.02, misses on revs (47.20 )

Reports Q3 (Sep) earnings of $0.70 per share, $0.02 better than the Reuters Estimates consensus of $0.68; revenues rose 5.0% year/year to $881.5 mln vs the $920.3 mln consensus.
07:07 SIRI Sirius Satellite reports EPS in-line, misses on revs (3.61 )

Reports Q3 (Sep) loss of $0.08 per share, in-line with the Reuters Estimates consensus of ($0.08); revenues rose 44.7% year/year to $241.8 mln vs the $244.6 mln consensus.
07:06 CALLS Early Research Calls IV

Upgrades: J.P Morgan upgrades Coca-Cola FEMSA (KOF 46.81) to Overweight from Neutral. Downgrades: ThinkEquity downgrades Volcom (VLCM 31.09) to Accumulate from Buy and cuts their tgt to $36 from $59 following earnings and lowered guidance. The firm says the most telling guidance was what was not issued, namely guidance for FY08… Brean Murray downgrades Home Inns & Hotels Management (HMIN 46.41) to Hold from Buy saying while they continue to view HMIN as the best co in China’s economy hotel industry, they believe the current share price reflects most of the upside potential. Miscellaneous: Bear Stearn initiates CarMax (KMX 20.39) with an Underperform… Jefferies initiates Athenahealth (ATHN 40.31) with a Buy and sets a $46 tgt, as they believe SaaS practice mgmt/EHR offering is well suited for the largest opportunity in the physician segment while accelerated clinical adoption may provide sizable financial upside… Lehman initiates Dice Holdings (DHX 11.43) with an Equal Weight… Merrill initiates Atlas Energy (ATN 33.60) with a Buy… Merrill initiates EV Energy Partners (EVEP 38.04) with a Buy… Merrill iniitates Linn Energy (LINE 30.50) and Legacy Reserves (LGCY 23.49) with Neutrals… Piper Jaffray initiates Athenahealth (ATHN 40.31) with a Market Perform… Piper Jaffray initiates Astec Industries (ASTE 42.47) with an Outperform and a $59 tgt… Piper Jaffray initiates Wonder Auto Tech (WATG 8.41) with an Outpeform and a $12 tgt… RBC initiates Tertra Tech (TTI 20.15) with a Sector Perform and a $23 tgt.
07:06 HEP prelim $0.61 vs $0.59 Reuters consensus; revs $27.21 mln vs $27.21 mln Reuters consensus

07:06 MAS Masco reports Q3 (Sep) results, revs in-line; guides FY07 at or above high end of range (23.37 )

Reports Q3 (Sep) earnings of $0.57 per share, includes charges & gains, may not be comparable to the Reuters Estimates consensus of $0.45; revenues fell 6.7% year/year to $3.06 bln vs the $3.07 bln consensus. Co sees 2007 full-year earnings from continuing operations approximating or modestly exceeding the high end of its previous guidance of $1.55-1.65 per common share.
07:06 SCON Superconductor enters into sales agreement with China Corporate Credit Assurance to purchase Superlink solutions for deployment in China (11.10 )

Co announces it has entered into a sales agreement to provide STI’s SuperLink solution to China Corporate Credit Assurance for deployment in 2G and 3G networks in China.
07:05 UA believes nte revs and income from operations for 2008 will exceed long-term growth tgts of 20-25%

07:05 Q prelim $1.08 may not be comparable to $0.15 Reuters consensus; revs $3.43 bln vs $3.49 bln Reuters consensus

07:05 TRW sees FY07 $2.10-2.30 vs $2.36 Reuters consensus; sees revs $14.5 bln vs $14.16 bln Reuters consensus

07:05 BJS BJ Services beats by $0.04, beats on revs; guides Q1 EPS below consensus; guides FY08 EPS below consensus (25.34 )

Reports Q4 (Sep) earnings of $0.64 per share, $0.04 better than the Reuters Estimates consensus of $0.60; revenues rose 11.0% year/year to $1.28 bln vs the $1.22 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.58-0.60 vs. $0.63 consensus. Co issues downside guidance for FY08, sees EPS of $2.35-2.45 vs. $2.58 consensus.
07:05 MGM MGM Mirage Earnings Preview (92.92 )

MGM Mirage (MGM) is scheduled to report Q3 earnings tomorrow before the open. Reuters and First Call expect EPS of $0.50, with revs of $1.91 bln. Note the co announced in its 4Q06 conference call that it discontinued providing quarterly guidance. There is no discernable pattern to the co’s results: EPS has beaten expectations and missed expectations recently, while revs basically fell yr/yr in 2004, grew well into the double-digits in 2005 and are seeing growth in the high single-digits since… There are a number of key issues to watch out for this quarter, but first and foremost is Macau. MGM will be the last of the four publicly-traded casino cos (LVS, WYNN and MPEL) to open its first casino in Macau. In its Q2 conference call on 8/2, the co said MGM Grand Macau remains on track for an opening in Q4 and that it will update investors on the progress this quarter. The co also said during the call that it had located a second site in Macau and was working with the govt there on its development. This actually dates back to 2/13 when the co announced its 50/50 joint venture MGM Grand Paradise was engaged in discussions with the Govt of Macau on the development of its second major resort there, so any color the co can provide should be beneficial… A second key issue is the grand opening of MGM Grand Detroit on 10/02. While this quarter’s numbers will not incorporate results from the new casino, look for any update on its opening and business to date… A third issue is an update on the recently announced MGM Grand Atlantic City project. The announcement for the $4.5-5.0 bln resort came on 10/10, so this will be the first opportunity for mgmt to provide color… One last issue worth monitoring is an update on MGM’s existing stock repurchase. During the last call, the co described itself as “consistent acquirers” of its shares and added investment in themselves is their best investment. The co announced it had 5.5 mln shares remaining on its existing authorization, and said if history holds, it will finish that up and ask the board for more… For technical levels of interest, click here. (PVIEW)
07:04 GPI sees FY07 $3.45-3.60 vs $3.77 Reuters consensus

07:04 UA sees FY07 revs $590-600 mln vs $595.94 mln Reuters consensus

07:04 GPI prelim $0.95 vs $1.12 Reuters consensus; revs $1.66 bln vs $1.73 bln Reuters consensus

07:04 VPHM prelim $0.26 vs $0.28 Reuters consensus; revs $50.9 mln vs $52.02 mln Reuters consensus

07:03 UA prelim $0.40 vs $0.34 Reuters consensus; revs $186.9 mln vs $170.97 mln Reuters consensus

07:03 LCAV sees Q4 EPS to be significantly below $0.27 in yr ago period, vs $0.50 consensus; also suspending rev guidance

07:03 TRW prelim $0.22 vs $0.27 Reuters consensus, $0.26 First Call; revs $3.5 bln vs $3.32 bln Reuters consensus

07:03 HSII prelim $0.84 vs $0.69 Reuters consensus; revs $162.9 mln vs $145.50 mln Reuters consensus

07:03 SEPR sees FY07 $1.05-1.15 vs $1.40 Reuters consensus; sees revs $1.23-1.3 bln vs $1.25 bln Reuters consensus

07:02 LCAV prelim $0.51 vs $0.49 Reuters consensus; revs $74.6 mln vs $78.02 mln Reuters consensus

07:02 HERO prelim $0.61, ex items vs $0.53 Reuters consensus, $0.54 First Call; revs $294.4 mln vs $299.43 mln Reuters consensus

07:02 PG sees Q2 organic sales +4-6%

07:02 SEPR sees FY08 $2.34-2.45 vs $1.83 Reuters consensus

07:02 PG sees Q2 $0.95-0.97 vs $0.96 Reuters consensus

07:02 SEPR prelim $0.37 vs $0.26 Reuters consensus; revs $283.9 mln vs $289.71 mln Reuters consensus

07:02 SIRI prelim ($0.0 vs ($0.0 Reuters consensus; revs $241.8 mln vs $244.61 mln Reuters consensus

07:01 PG sees FY08 $3.46-3.49 vs $3.47 Reuters consensus; sees organic sales +4-6%

07:01 IVC prelim $0.54, ex items vs $0.31 Reuters consensus

07:01 ATC Cycle Country Accessories retires 19.2% of outstanding stock (1.74 )

Co announces it has sold to its founder, James Danbom, the manufacturing plant located in Milford, Iowa. In return ATC will receive 1,410,730 shares, (the closing price as of Friday, October 26th was $1.62).
07:01 PG prelim $0.90 vs $0.90 Reuters consensus, $0.89 First Call; revs $20.2 bln vs $20.25 bln Reuters consensus

06:59 IDGR Industrial Distribution reports Q3 EPS of $0.14 vs $0.19 in yr ago period; revs $134.3 mln vs $139 mln in yr ago period (10.80 )

06:51 AAI Air Tran Holdings beats by $0.01, reports revs in-line (9.68 )

Reports Q3 (Sep) earnings of $0.18 per share, excluding non-recurring items, $0.01 better than the Reuters Estimates consensus of $0.17; revenues rose 25.0% year/year to $608.6 mln vs the $604.3 mln consensus.
06:50 CALLS Early Research Calls III

Upgrades: Friedman Billings upgrades Petro-Canada (PCZ 56.5 to Outperform from Market Perform and raises their tgt to $70 from $51, as they believe essentially no growth is built into 2008 expectations… Friedman Billings upgrades Suncor (SU 107.49) to Market Perform from Underperform and raises their tgt to $106 from $75, based on a large gap between consensus and futures oil outlooks, industry specific issues being better reflected in shares and expectations of increasing oil sands M&A… Citigroug assumes coverage of Manpower (MAN 69.45) with a Buy from a Hold… D.A. Davidson upgrades Schnitzer Steel Industries (SCHN 65.76) to Neutral from Underperform, based on valuation following Q407 EPS that was below firm estimates… JMP upgrades Actuate (ACTU 7.3 to Outperfrom from Market Perform with a $9 tgt following earnings believe it will continue to benefit from its transformation to an open source software provider, including higher operating margins. Miscellaneous: Jefferies initiates Tupperware (TUP 33.60) with a Buy and sets a $46 tgt, based on the co’s new business model that is gaining traction and should result in a sustained period of much more consistent growth than in the past… Baird initiates Investor Real Estate Trust (IRETS 10.65) with a Neutral and sets an $11 tgt, based on valuation and favor management, a straightforward business plan and believe efforts to increase investor recognition should bear fruit over time… Jefferies initiates Blyth (BTH 19.20) with a Hold and sets a $20 tgt, as they expect limited near-term upside to shares based on marked deceleration in its PartyLite U.S. direct selling segment, challenging 2H08E (Jan) comparisons in PartyLite Europe, significant divestures in its wholesale segment and declining FCF.
06:49 COMDX OPEC President says OPEC still has spare capacity of 3.5 mln barrels per day - Reuters

06:39 CALLS Early Research Calls II

Upgrades: Baird upgrades Acuity Brands (AYI 44.71) to Outperform from Neutral and maintains their $56 tgt, as they believe shares appear to be discounting markedly more adverse cycle-to-cycle growth/profitability decline than they think is warranted while an opportunity from the pending spin-off of Chemical shares, in addition to being strategically sound, adds to potential return outlook… Citigroup upgrades FormFactor (FORM 36.23) to Buy from Hold… UBS upgrades GM (GM 37.96) to Buy from Sell and raises their tgt to $48 from $24… UBS upgrades US BioEnergy (USBE 7.31) to Buy from Neutral… Merrill Lynch upgrades Post Properties (PPS 37.04) to Neutral from Sell… Merrill Lynch upgrades Buckeye GP Holdings LP (BGH 28.04) to Neutral from Sell… BofA upgrades Platinum Underwriters (PTP 35.9 to Buy from Neutral… Friedman Billings upgrades NEXEN (NXY 32.35) to Outperform from Market Perform and raises their tgt to $42 from $26, based on a large gap between consensus and futures oil outlooks, industry specific issues being better reflected in shares and expectations of increasing oil sands M&A. Downgrades: Jefferies downgrades Covad (DVW 0.91) to Hold from Buy and lowers their tgt to $1.02 form $1.50, following the co’s agreement to be acquired by Platinum Equity Holdings for $1.02 per share.
06:33 DUSA DUSA Pharma announces $11 mln in private placement of common stock and warrants to institutional investors (2.71 )

Co announces that it has entered into definitive agreements with institutional investors with respect to the private placement of 4,581,043 shares of its common stock at $2.40 per share. The transaction also includes warrants to purchase up to 1,145,259 shares of DUSA’s common stock at an exercise price of $2.85 per share.
06:32 BEC Beckman Coulter beats by $0.02, misses on revs; guides FY07 EPS in-line (72.61 )

Reports Q3 (Sep) earnings of $0.77 per share, excluding non-recurring items, $0.02 better than the Reuters Estimates consensus of $0.75; revenues rose 6.0% year/year to $669 mln vs the $682.1 mln consensus. Co issues in-line guidance for FY07, sees EPS of $3.15-3.22 vs. $3.21 consensus.
06:32 ESEA Euroseas commences a 5 mln share common stock offering under the co’s effective shelf registration; in addition one of the co’s shareholders will be offering 750k shares (19.89 )

06:31 RRD Donnelley & Sons beats by $0.07, reports revs in-line; guides FY07 EPS above consensus (37.51 )

Reports Q3 (Sep) earnings of $0.81 per share, excluding non-recurring items, $0.07 better than the Reuters Estimates consensus of $0.74; revenues rose 26.0% year/year to $2.91 bln vs the $2.89 bln consensus. Co issues upside guidance for FY07, sees EPS of $2.85-2.88 vs. $2.80 consensus.
06:30 RRD Donnelley & Sons announces promotion Of Miles McHugh to Chief Financial Officer (37.51 )

Co announces that Miles McHugh has been appointed Executive Vice President, Chief Financial Officer, effective immediately and that Andrew Coxhead has been promoted to Senior Vice President, Controller and Chief Accounting Officer. Mr. McHugh follows RR Donnelley’s President and Chief Executive Officer Thomas Quinlan III into the Chief Financial Officer’s role.
06:29 FDP Fresh Del Monte earnings color (34.67 ) -Update-

Reuters Estimates is telling us that the reported actual of $0.51 is comparable to their consensus of ($0.05). See 6:15 comment for the full report.
06:28 CALLS Early Research Calls I

Downgrades: Susquehanna downgrades DJO (DJO 49.74) to Neutral from Positive. Miscellaneous: Kaufman initiates Cypress Semiconductor (CY 35.83) with a Buy and sets a $41 tgt, as they believe the opportunity in CY’s core semiconductor business remains undervalued and see a potential catalyst for investors in divesture of its $5.2 bln SPWR stake… Kaufman initiates NVIDIA (NVDA 33.59) with a Buy and sets a $42 tgt, as they recommend investors use NVDA as a way to gain exposure to the growing $3 bln, approximately, PC graphics market… Kaufman initiates RF Micro Devices (RFMD 6.19) with a Hold and sets a $7 tgt, as they see continued risk of volatile results from an overly high concentration on the largest vendors, particularly Motorola… Kaufman initiates Broadcom (BRCM 33.13) with a Hold and sets a $35 tgt, as they see limited outperformance with seasonal communications end market demand expectations, and would look for more aggressive end market tone prior to becoming aggressive on shares… Kaufman initiates Integrated Device Technology (IDTI 13.75) with a Hold and sets a $15 tgt, as they believe near-term returns will be limited by increasing competition and growth in lower margin segments and would look for resurgence in higher margin communications demand and an improving utilization trend for IDTI prior to becoming more constructive on the name… Kaufman initiates Silicon Labs (SLAB 43.52) with a Buy and sets a $50 tgt, as they believe SLAB is well positioned with a diversified portfolio of high growth and high margin mixed-signal analog products and expect a stream of new products that target new high volume opportunities through low-cost, integrated solutions… Kaufman initiates LSI (LSI 6.62) with a Buy and sets an $8 tgt, as they believe LSI is levered to secular growth in the storage end market, and has strengthened its position through the recent acquisition of Agere Systems… Kaufman initiates Marvell Technology Group (MRVL 17.86) with a Hold and sets an $18 tgt, as they expect limited earnings momentum near term, as earnings continue to be hampered by digestion of several recent acquisitions and believe the co is seeing increasingly strong competition in the hard drive semiconductor market.
06:27 ABG Asbury Automotive misses by $0.05, misses on revs; guides FY07 EPS below consensus (19.45 )

Reports Q3 (Sep) earnings of $0.58 per share, $0.05 worse than the Reuters Estimates consensus of $0.63; revenues fell 0.6% year/year to $1.49 bln vs the $1.55 bln consensus. Co issues downside guidance for FY07, sees EPS of $2.10-2.18 vs. $2.21 consensus.
06:27 ONVI Onvia reports Q3 EPS of $0.33 vs ($0.11) in yr ago period; reports revs up 26% yr/yr to $5.4 mln with no estimates (7.99 )

06:27 Sensex ends down 199pts at 19,779 - The Business Standard

The Business Standard reports after opening with a positive gap of 125 points at 20,103, the Sensex touched a fresh all-time intra-day high of 20,238, before slipping into the negative zone in early early trades. The index, thereafter, exhibited significant volatility and rebounded into the positive zone while the Reserve Bank of India in its second quarterly review of the Credit Policy left key rates untouched and hiked Cash Reserve Ratio by 50 basis points. However, a second round of selling in late noon trades saw the index tumble to a low of 19,695 - down 543 points from the peak. The Sensex finally ended (provisional) with a loss of 199 points at 19,779.
06:27 Asian stocks fall; Kookmin Bank, Takeda Pharmaceutical decline - Bloomberg.com

Bloomberg.com reports Asian stocks fell, dragging a key regional index from a record, after Kookmin Bank reported earnings that missed analyst estimates and Baoshan Iron & Steel’s profit decreased for the first time in more than a year. Japan’s Topix gained, while the Nikkei 225 Stock Average fell with most of Asia’s other benchmarks. China, Hong Kong and Malaysia were the only gainers among the regions 10 biggest markets.
06:27 European stocks decline, paced by UBS, Dassault, BHP Billiton - Bloomberg.com

Bloomberg.com reports European stocks fell for the first time in four days after UBS AG, the region’s biggest bank, posted its first quarterly loss in almost five years on writedowns tied to the U.S. mortgage market. The Dow Jones Stoxx 600 Index lost 0.3% to 385.59 at 8:02 a.m. in London. The Stoxx 50 decreased 0.3%, while the Euro Stoxx 50, a measure for the euro region, slipped 0.2%. The FTSE 100 Index declined 17, or 0.3%, to 6,689 at 8:32 a.m. in London. The FTSE All-Share Index lost 0.3% to 3,433.03. Ireland’s ISEQ Index slid 0.6% to 7,818.55.
06:26 ARGN Amerigon reports Q3 EPS of $0.06, ex items vs $0.05 Reuters consensus; revs $15.91 mln vs $15.42 mln Reuters consensus (18.96 )

06:23 DASTY Dassault Systems reports Q3 results; reaffirms FY07 guidance (67.07 )

Co reports Q3 EPS of Euro 0.39 vs Euro 0.41 Reuters Estimates consensus; revs Euro 301.3 mln vs Euro 304.2 mln consensus. Co reaffirms FY07 EPS guidance of Euro 1.96-2.00 vs Euro 2.03 Reuters Estimates consensus.
06:21 S&P futures vs fair value: -4.5. Nasdaq futures vs fair value: -10.3.
06:20 European Markets

FTSE…6664.90…-41.10…-0.6%. DAX…7986.44…-23.23…-0.3%.
06:20 Asian Markets

Nikkei…16651.01…-47.07…-0.3%. Hang Seng…31638.22…+51.32…+0.2%.
06:19 TKLC TEKELEC beats by $0.06, misses on revs (12.40 )

Reports Q3 (Sep) earnings of $0.18 per share, excluding non-recurring items, $0.06 better than the Reuters Estimates consensus of $0.12; revenues fell 27.2% year/year to $97.8 mln vs the $107 mln consensus.
06:17 EXR Extra Space Storage reports EPS in-line, beats on revs; guides Q4 EPS in-line (14.95 )

Reports Q3 (Sep) funds from operations of $0.29 per share, in-line with the Reuters Estimates consensus of $0.29; revenues rose 23.6% year/year to $55.2 mln vs the $53.3 mln consensus. Co issues in-line guidance for Q4, sees FFO of $0.28-0.29 vs. $0.29 consensus.
06:16 LLY Lilly and Glenmark Pharmaceuticals announce license agreement (53.52 )

Co announces that it has entered into an agreement with Glenmark Pharmaceuticals S.A., a wholly owned subsidiary of Glenmark Pharmaceuticals Limited India . Under the terms of the agreement, Lilly will acquire the rights to a portfolio of transient receptor potential vanilloid sub-family 1 antagonist molecules, including a clinical compound, GRC 6211. GRC 6211 is currently in early clinical Phase II development as a potential next-generation treatment for various pain conditions, including osteoarthritic pain. Under the terms of the agreement, Glenmark will receive an upfront fee of $45 mln and could receive up to an additional $215 mln in potential development and sales milestones for the initial indication, as well as royalties on sales if GRC 6211 is successfully commercialized.
06:15 FDP Fresh Del Monte reports Q3 (Sep) results, revs in-line (34.67 )

Reports Q3 (Sep) earnings of $0.51 per share, may not be comparable to the Reuters Estimates consensus of ($0.05); revenues rose 3.8% year/year to $757.1 mln vs the $758 mln consensus.
06:12 HCP Health Care Ppty misses by $0.03, beats on revs (34.21 )

Reports Q3 (Sep) funds from operations of $0.50 per share, $0.03 worse than the Reuters Estimates consensus of $0.53; revenues rose 103.6% year/year to $284.2 mln vs the $254.4 mln consensus.
06:10 WIRES On The Wires -Update-

Inovio Biomedical (INO) announces that its partner, Tripep AB of Sweden, has begun enrolling patients for its Phase I/II clinical study of a novel DNA vaccine designed to treat chronically infected hepatitis C virus patients.
06:09 NTII Neurobiological Technologies announces the pricing of its $60 mln common stock offering at $2.75 per share (2.79 )

06:05 PMI PMI Group beats by $0.01, misses on revs (18.58 )

Reports Q3 (Sep) loss of $1.04 per share, excluding non-recurring items, $0.01 better than the Reuters Estimates consensus of ($1.05); revenues fell 4.6% year/year to $287 mln vs the $300.4 mln consensus.
05:55 NC NACCO Industries reports Q3 EPS of $2.55 vs $2.28 YoY; revenues rise 9.0% to $875.2 mln (107.70 )

05:44 CPO Corn Products misses by $0.06, beats on revs (48.29 )

Reports Q3 (Sep) earnings of $0.61 per share, excluding non-recurring items, $0.06 worse than the Reuters Estimates consensus of $0.67; revenues rose 30.1% year/year to $877.4 mln vs the $814 mln consensus. Co expects FY07 EPS to be in the upper range of guidance of $2.35-$2.55.
05:24 US private equity groups in China talks - WSJ

Financial Times reports three of the biggest US private equity firms have each held preliminary talks about selling a minority stake to China’s giant Social Security Fund, people familiar with the negotiations say. The talks suggest that the number of official Chinese entities looking to make investments in foreign financial firms is poised to grow. Bear Stearns (BSC) and China’s Citic Securities last week revealed plans to invest $1 bln in each other. China’s Social Security Fund, which had Rmb460 bln ($61.5 bln) in assets at the end of June, held discussions during the summer with Carlyle, KKR and TPG, said the people familiar with the talks. Negotiations focused on the possibility that the SSF would take a stake of up to 9.9% in one of the US firms. Carlyle has been the most aggressive in seeking outside investors. The firm also hopes to sell small stakes in itself to investors in Asia and in Europe.
05:20 GOOG Can a Google phone connect with carriers? - WSJ (679.23 )

The Wall Street Journal reports Google (GOOG) is close to unveiling its long-planned strategy to shake up the wireless market, people familiar with the matter say. The co’s ambitious goal: to make applications and services as accessible on cellphones as they are on the Internet. In a move likely to kick off an intense debate about the future shape of the cellphone industry, Google wants to make it easier for cellphone customers to get a variety of extra services on their phones — from maps to social-networking features to video-sharing. To get its way, however, the search giant will have to overcome resistance from wireless carriers and deal with potentially thorny security and privacy issues. Within the next two weeks, Google is expected to announce advanced software and services that would allow handset makers to bring Google-powered phones to market by the middle of next year, people familiar with the situation say. In recent months Google has approached several U.S. and foreign handset manufacturers about the idea of building phones tailored to Google software, with Taiwan’s HTC Corp. and South Korea’s LG Electronics mentioned in the industry as potential contenders. Google is also seeking partnerships with wireless operators. In the U.S., it has the most traction with Deutsche Telekom’s (DT) T-Mobile USA, while in Europe it is pursuing relationships with France Telecom’s (FTE) Orange SA and Hutchison Whampoa Ltd.’s 3 U.K., people familiar with the matter say.
05:14 Morning News Summary

WSJ: Can a Google (GOOG) phone connect with carriers? Financial Times: US private equity groups in China talks.
04:15 UA Under Armour Earnings Preview (58.73 )

Under Armour is set to report earnings BMO. Since hitting all time highs of $73.40 on August 9th, shares have pulled back to as low as $53 in mid-October before rebounding and climbing back towards $60 heading into tomorrows report. Last quarter co had their finest report to date, beating the bottom line expectations by $0.08 and posting y/y rev growth of 51% compared to 42% in the prior quarter. Co also raised their Y07 revenue guidance to $580-590 mln from $560-580 mln and their income from operations to $79-81 mln from $74.5-77.5 mln. The key driver was accelerated growth across Men’s, Women’s, and Youth, as apparel revenues rose 53.4% in Q2. Gross margin for the quarter increased to 49.0% compared to 47.8% in the prior year due to a combination of factors including a shift of certain customer incentives to SG&A expenses, which were recorded as discounts in the prior year. Key Items on the: 1) Weather & Inventories: Perhaps the biggest headwind for the co’s Q3 report is the warm weather patterns that we have been seeing across the U.S. This is more likely to have an effect on the co’s coldgear product lines so would probably be reflected in Q4 guidance more than Q3 results but certainly worth watching. Y07 guidance is believed to be conservative so would not expect to see a change here as weather patterns are likely factored in. We would not expect this to have any effect on the long term growth targets of 20-25%; 2) Women’s Apparel: Growth in this area is expected to be one of the key drivers for the co going forward. Last quarter Women’s made up ~15% of total sales and had y/y growth of 53.1%. Other segments as an fyi were- Mens ~52%, +49.8% y/y; Youth ~6%, +89.6% y/y; Footwear ~16%, +28.9% y/y; Accessories 5%, +76.8% y/y; 3) International Sales: Co has approx 2% of their sales outside of the U.S. so the growth in International markets is crucial for the co as consumer confidence remains unstable in light of credit issues. Co made some key hires this quarter so we will be expecting good commentary from this area as well as a reaffirm that they plan on opening 75 new stores in the Western Europe area; 4) Footwear: Another area investors are looking to provide growth for the co. Segment only accounted for 16% of revenues in Q2. One worry is that an increase in footwear could hurt margins… UA Consensus: Reuters Q3 EPS $0.34, revs $170.9 mln; Q4 EPS $0.34, revs $179.3 mln; Y07 EPS $0.99, revs $595.9 mln; Y08 EPS $1.31, revs $788.5 mln…
04:11 POL PolyOne beats by $0.03, reports revs in-line (7.94 )

Reports Q3 (Sep) earnings of $0.14 per share, excluding non-recurring items, $0.03 better than the Reuters Estimates consensus of $0.11; revenues fell 0.2% year/year to $664.8 mln vs the $669.5 mln consensus.
03:48 WHQ W-H Energy Svcs issues Q407 downside guidance (59.82 )

Co issues downside guidance for Q4 (Dec), sees EPS of $1.07-1.12 vs. $1.15 Reuters Estimates consensus.
03:41 WHQ W-H Energy Svcs announces Q307 results; beats by $0.02 (59.82 )

Reports Q3 (Sep) earnings of $1.11 per share, $0.02 better than the Reuters Estimates consensus of $1.09; revenues rose 18.5% YoY to $282.99 mln vs the $283.0 mln consensus.
03:28 LDK LDK Solar announces independent audit committee investigation into alleged inventory discrepancies (41.15 )

Co announces that its Audit Committee has commenced an independent investigation into the recent allegations made by LDK’s former employee, Mr. Charley Situ, that the co has incorrectly reported its inventories of polysilicon. Two outside directors on the Audit Committee are overseeing the ongoing investigation.
03:25 WIRES On The Wires

Ocean Power Technologies, Inc (OPTT) announces that OPT and Converteam Ltd have signed a Cooperation Agreement for the development of High Temperature Superconductor Linear Generators for use in OPT’s PowerBuoy wave energy converters… Taisho Pharmaceutical Ltd. and Pfizer (PFE) have concluded a letter of intent with regard to TS-032, a new schizophrenia drug candidate discovered by Taisho and currently in the pre-clinical stage; through the proposed license agreement, Taisho would grant exclusive development and commercialization rights outside Japan for TS-032 to Pfizer… Beckman Coulter (BEC) announces that it has been awarded new agreements with Amerinet to provide a full range of core laboratory systems and supplies, valued at approx $74 mln per year.
03:20 ASX Advanced Semi reports EPS in-line, beats on revs (5.84 )

Reports Q3 (Sep) earnings of $0.12 per share, in-line with the Reuters Estimates consensus of $0.12; revenues rose 6.0% year/year to $851.6 mln vs the $813.3 mln consensus.
03:16 GRP Grant Prideco reaches agreement to sell selected tubular businesses for $800 mln (47.47 )

Co announces that it has entered into a definitive agreement with Vallourec S.A. to sell three of the four business units within its Tubular Technologies and Services segment for $800 mln.
03:15 TEVA Teva Pharma announces CFO Dan Suesskind plans to retire in mid-2008 (44.49 ) -Update-

Eyal Desheh, CFO of Check Point Software Technologies (CHKP), has been appointed to succeed.
03:13 CHKP Check Point Software CFO Eyal Desheh to join Teva Pharma Industries by mid-2008 (25.57 )

03:12 BASF AG reports Q3 results

Co reports sales increased 5% to nearly EUR 14 bln. Income from operations before special items rose by 6% to EUR 1.7 bln. Outlook: BF announces a sales increase to nearly EUR 58 bln and EBIT before special items above the previous year’s level.
03:07 UBS UBS reports Q3 loss of CHF 726 mln pre-tax, in line with announcement on October 1, 2007 (53.25 )

Co reports an operating loss, before tax and minority interests, of CHF 726 mln in Q307. This is within the range given in the announcement on October 1, 2007 forecasting a loss of CHF 600-800 mln. After tax and minority interests, the net loss attributable to shareholders was CHF 830 mln. The deterioration in UBS’s performance in Q3 was mainly due to the substantial losses and writedowns in trading positions related to the US sub-prime residential mortgage-backed securities market, leading to revenues of negative CHF 4.2 bln in the Investment Bank’s fixed income, currencies and commodities business. Co reports a diluted EPS fo (CHF 0.49), compared with CHF 1.07 in Q306. Outlook: Co believes it is unlikely that the Investment Bank will contribute positively to UBS results for the last three months of the year. Markets remain uncertain, but based on current information, the Group should return to profitability in Q407.
02:53 TEVA Teva Pharm beats by $0.02, misses on revs (44.49 )

Reports Q3 (Sep) earnings of $0.64 per share, $0.02 better than the Reuters Estimates consensus of $0.62; revenues rose 3.5% year/year to $2.37 bln vs the $2.41 bln consensus.
02:47 BEAV BE Aerospace beats by $0.07, beats on revs; guides FY07 EPS above consensus; guides FY08 EPS below consensus, revs in-line (44.57 )

Reports Q3 (Sep) earnings of $0.48 per share, excluding non-recurring items, $0.07 better than the Reuters Estimates consensus of $0.41; revenues rose 48.7% year/year to $428.2 mln vs the $401.9 mln consensus. Co issues upside guidance for FY07, sees EPS of $1.69 vs. $1.61 consensus. Co issues mixed guidance for FY08, sees EPS of $2.25 vs. $2.31 consensus; sees FY08 revs of $2.0 bln vs. $2.02 bln consensus.
01:25 WLM Wellman reports Q3 and will explore strategic alternatives (1.79 )

Reports Q3 (Sep) loss of $0.81 per share, $0.36 worse than the Reuters Estimates single-analyst estimate of ($0.45); revenue decreased 11.9% YoY to $270.8 mln (no Reuters estimates). Co also announces that it will be exploring strategic alternatives and expects to reduce 2008 costs by $20-$25 mln compared to ‘07 levels.
01:14 LOGI Logitech reports Q208 results (35.22 )

Reports Q2 (Sep) earnings of $0.42 per share, excluding impairment charge, $0.05 better than Reuters Estimates consensus of $0.37; revenues rose 18.6% YoY to $595.49 mln vs the $564.82 mln consensus.
01:02 FDG Fording Coal beats by $0.15, misses on revs (42.25 )

Reports Q3 (Sep) earnings of $0.56 per share, excluding unusual items, future income taxes and unrealized gains or losses on foreign exchange forward contracts, $0.15 better than the Reuters Estimates consensus of $0.41; revenues fell 24.8% year/year to $331 mln vs the $338 mln consensus.
00:48 IART Integra LifeSciences acquires IsoTis for $7.25 in cash (47.52 )

Co announces it has acquired the shares of IsoTis (ISOT 7.16) for $7.25 in cash per share of IsoTis common stock, representing total consideration to IsoTis stockholders of approx $51 mln. IART expects transaction will be dilutive to ES for several quarters.
00:42 RAMR Ram Holdings announces Q307 unrealized mark-to-market loss on its credit derivatives portfolio and record new business production (7.90 )

Co announces that its results for Q307 will be affected by an unrealized mark-to-market loss of approx ($28.4) mln or ($1.04) per basic and diluted share, with respect to its credit derivatives portfolio. As a result of the unrealized losses, RAM expects to report a net loss for Q3. These unrealized losses are the result of widening credit spreads in the market and do not reflect actual claims. The unrealized mark-to-market losses do not impact operating earnings or rating agency statutory capital requirements and claims paying resources. Also for Q3, RAM expects to report adjusted premiums written of $50.7 mln versus $37.3 mln for Q306.
00:35 ALGT Allegiant Travel beats by $0.05, beats on revs (38.41 )

Reports Q3 (Sep) earnings of $0.35 per share, excluding non-recurring items, $0.05 better than the Reuters Estimates consensus of $0.30; revenues rose 41.7% year/year to $86.3 mln vs the $83.3 mln consensus.
00:29 PPS Post Properties beats by $0.05, misses on revs; guides Q4 EPS in-line (37.04 )

Reports Q3 (Sep) funds from operations of $0.53 per share, $0.05 better than the Reuters Estimates consensus of $0.48; revenues rose 4.4% year/year to $78 mln vs the $79.4 mln consensus. Co issues in-line guidance for Q4, sees FFO of $0.46-0.49 vs. $0.49 consensus.
00:10 ‘Mad Money’ Recap: Lightning Round cont. - TheStreet.com

Cramer was bearish on MetroPCS Communications (PCS), Titanium Metals (TIE), Allegheny Technologies (ATI), Spartan Motors (SPAR), LDK Solar (LDK) and lululemon (LULU).
00:09 ‘Mad Money’ Recap: Lightning Round - TheStreet.com

Cramer was bullish on AT&T (T), Verizon (VZ), Boeing (BA), Sears (SHLD), National Oilwell Varco (NOV), Transocean (RIG), Freeport-McMoRan (FCX), comScore (SCOR), Oshkosh Truck (OSK), Masimo (MASI), First Solar (FSLR), SunPower (SPWR) and MEMC Electronic Materials (WFR).
00:07 Cramer’s ‘Mad Money’ Recap - TheStreet.com

On Monday’s edition, Jim says Ralph Lauren (RL) and Nordstrom (JWN) could benefit from a Fed rate cut and cold weather. Ralph Lauren and Nordstrom deserve to go higher because they command “strong brand-name recognition,” have considerable buybacks going on and are “dirt cheap,” he said. Next, he claims Target (TGT) is worthwhile to investors because it generates more growth than any other broad retailer and that it is planning to sell its credit-card business. The credit-card business, Cramer pointed out, could be worth more than $7 bln and be a boon to shareholders if it is used for a stock buyback. If investors want to buy one retailer, they should buy Target, he said. During the Sudden Death round, Cramer was bullish on Manitowoc (MTW), Baidu.com (BIDU) and Adobe Systems (ADBE). He was bearish on Dow Chemical (DOW).