Trading for the Masses

19:56 WRAPX After Hours Summary: GOOG -7.0% on earnings; ALTR +3.3% on earnings/guidnace; MOT +10.1% (to explore structural and strategic realignment of its businesses to enhance shareholder value) -Update-

Companies moving in after hours trading in reaction to earnings: Trading Up: PAR +15.0%; ISRG +14.9%; STAR +13.3%; INFN +12.9%; SWIR +10.7%; COGO +6.9%; TSRA +6.7%; LAVA +5.3%; DLB +5.3%; AFFX +4.7%; SIMO +4.6%; CA +4.1%; ALTR +3.3%; CLS +2.3%; FMD +1.9%; DNEX +1.7%; ZHNE +1.4%; ISSI +1.4%; ACLS +1.3%; CYTK +1.0%… Trading Down: OMCL -12.3%; DRIV -11.2%; ACTU -10.5%; ABAX -9.4%; COLM -8.2%; BEBE -7.1%; GOOG -7.0%; SXE -6.7%; AVID -5.5%; TRID -5.4%; MNT -4.6%; SYMM -4.4%: PFWD -4.1%; SMTL -3.2%; ZIGO -3.1%; ELY -3.0%; RFMD -3.1%; ERTS -3.1%; CPSI -2.7%; CBAK -2.3%; MIL -1.7%; RDEN +1.5%; EXAR -1.1% … Companies moving in after hours trading in reaction to news: Trading Up: MOT +10.1% (to explore structural and strategic realignment of its businesses to enhance shareholder value); FLS +10.8% (raises 2007 revs above consensus; sees FY08 EPS above consensus); XPO +5.9% (expects Full Year 2008 revenue to exceed $120 mln); JAZZ +5.0% (announces submission of complete response to FDA approvable letter for LUVOX CR); COF +2.7% (announces $2 billion share buyback; $0.027 dividend increase to $0.375)… Trading Down: TSRA -6.7% (to acquire FotoNation for $29 mln); TRID -6.6% (expects 2H08 revs of $100-110 mln vs First Call consensus of $126.2 mln); SLW -4.1% (Goldcorp Announces Secondary Offering Of Its Entire 48% Interest In Silver Wheaton); EPIX -3.9% (reaches agreement with FDA on protocol, initiates re-read of Vasovist Phase 3 images); MW -1.2% (announces that Doug Ewert has been promoted to President and Chief Operating Officer (formerly EVP and COO); HRB -1.0% (implements cost reduction program; co plans to lower costs $110 mln annually).
19:52 MEE Massey Energy reports Q4 (Dec) results, misses on revs (37.04 +1.30)

Reports Q4 (Dec) earnings of $0.06 per share, includes charges, may not be comparable to the First Call consensus of $0.32; revenues rose 6.7% year/year to $585 mln vs the $604.5 mln consensus. The Co projects 2008 produced coal shipments will be between 41.5-43.0 mln tons, with average produced coal realization between $55-56 per ton. Cash costs per produced ton for the full year 2008 are expected to be between $43-45 per ton. Other income is expected to be between $30-100 mln. MEE expects total shipments for 2009 to be in the range of 44.0-46.0 mln tons at an average price in the range of $57-59 per ton. The co currently has ~10 mln unsold tons for 2009 of which ~6 mln tons are of metallurgical quality. Other income in 2009 is again expected to be $30-100 mln.
19:45 MTU Mitsubishi Financial: Subprime hole is deepening at Japan banks - WSJ (9.87 +0.15) -Update-

Japan’s two biggest banks said losses on U.S. mortgage securities expanded sharply in the last quarter of 2007, eating into profits and providing more evidence the U.S. subprime debacle is steadily finding victime among Japanese lenders. Mizuho Financial Group, by far the hardest hit amomg Japanese banks, said its subprime-related loss for he nine months ended Dec. 31 more than doubled from its forecast two months ago to 345 bln yen ($3.24 bln). It warned that the damage could grow to 395 bln yen for the year ended March 31. Mitsubishi UFJ Financial Group (MTU), Japan’s No. 1 lender by market cap and assets, said losses related to mortgage-sector turmoil came to 55 bln yen for the nine-month period. That is a steep increase from the loss of four bln yen it recorded for the half ended Sept. 30. For the full fiscal year, the loss could rise to 95 bln yen, the co said.
19:34 MER Merrill Lynch buys back CDO’s it sold to Springfield, Mass. - DJ (56.36 +0.27)

19:31 VRGY Verigy: Silicon Test Systems says Verugy files suit against the co - DJ (20.88 +0.09)

18:45 FRZ Reddy Ice merger transaction terminated; slightly raises 2007 revs guidance, lowers net income guidance (22.43 +0.39)

Co announced today that it has reached an agreement with affiliates of GSO Capital Partners LP (”GSO”) to terminate the Agreement and Plan of Merger, dated as of July 2, 2007, by and among FRZ, Frozen, LLC, a Delaware limited liability company, Hockey Parent, a Delaware corporation (together with Frozen, LLC, the “Parents”), and Hockey Mergersub, Inc., a Delaware corporation, as amended by Amendment No. 1 to the Agreement and Plan of Merger, dated as of August 30, 2007 (as amended, the “Merger Agreement”). Reddy Ice and affiliates of GSO, including the Parents, have entered into a settlement agreement (the “Settlement Agreement”) pursuant to which FRZ will be paid $21 mln in cash on February 5, 2008 to terminate the Merger Agreement. The Company has agreed to pay up to $4 mln of fees and expenses incurred by GSO and its third-party consultants in connection with the contemplated transactions. The Co will be receiving the final reports that those consultants provided to GSO. In its previously announced outlook for 2007, the Company indicated it expected revenues in 2007 to range between $332-338 mln, net income was expected to range from $11.3-15.4 mln. The Co’s preliminary year-end financial results for 2007 indicate revenues will slightly exceed the guidance range, while net income and Adjusted EBITDA will each come in at or slightly below the lower end of the guidance ranges.
18:36 CPSI Computer Prgms & Syst beats by $0.03; guides Q1 EPS in-line with consensus; guides revs below consensus (20.55 -0.33)

Reports Q4 (Oct) earnings of $0.36 per share, $0.03 better than the First Call consensus of $0.33; revenues fell 6.9% year/year to $28.1 mln vs the $29.1 mln consensus. Co sees Q1 EPS of $0.30-0.32 vs $0.31 consensus; sees revs of $27-28.5 mln vs $28.8 mln consensus.
18:31 AMGN Amgen: Pooled phase 3 study of Nplate (Romiplostim) in adult patients with chronic ITP published in the Lancet (46.59 -0.69)

Co announced data from two Phase 3 studies which evaluated the administration of Nplate (romiplostim) on increasing and sustaining platelet counts in both splenectomized (spleen removed) and non-splenectomized patients with chronic Immune Thrombocytopenic Purpura. The data will be published in the Feb. 2, 2008, issue of The Lancet.
18:25 AMN Ameron Int’l reports Q4 (89.44 +3.66)

Reports Q4 (Dec) earnings of $2.39 per share, including $3.8 mln gain, may not be comparable to the First Call consensus of $1.37; revenues rose 25.0% year/year to $188.9 mln vs the $180.5 mln consensus.
18:18 MTX Minerals Tech beats by $0.22, reports revs in-line (53.74 +1.45)

Reports Q4 (Dec) earnings of $0.90 per share, excluding non-recurring items, $0.22 better than the First Call consensus of $0.68; revenues rose 7.7% year/year to $274.3 mln vs the $273.3 mln consensus.
18:16 FLS Flowserve raises 2007 revs above consensus; sees FY08 EPS above consensus (82.11 +2.06)

Co raises 2007 revs to $3.75 bln vs $3.68 bln consensus, up from $3.6-3.7 bln. Co issues upside guidance; co sees 2008 EPS of $5.10-5.40 vs $4.88 consensus. The co’s backlog on December 31, 2007 was ~$2.3 bln, which is the highest year end level in the co’s history. FLS also expects 2007 full year operating margin to be at or near an annual improvement of 300 basis points, the high end of its previously announced range. From a market outlook perspective, the co continues to see a strong level of investment from its customers in the global oil and gas market, which continues to feed its large project business. Based on project activity levels in power, chemical, water and other general industries, the company’s outlook for increased investment by its customers in these segments also remains positive. In all its served industries, the co continues to invest in market share growth and believes that its annual record bookings in 2007 reflect success in this effort. From a geographical perspective, the co continues to see solid investment by its customers in the U.S. across its core markets. Internationally, where FLS receives approximately two-thirds of its business, the co also sees strength in its markets, including strong returns from its investments in China, India, Middle East and Latin America. Based on this strength in the company’s end markets, Flowserve plans to increase its capital spending in 2008 over 2007 amounts
18:13 SM St. Mary provides 2008 production and financial guidance (35.22 -0.01) -Update-

Co announces production and financial guidance for 2008. Co says, “SM enters 2008 with a drilling program that provides solid economic growth for the Co and stays within our anticipated cash flows. Excess free cash flow provides us with the flexibility to add to our drilling inventory, repurchase shares, or pay down bank borrowings.” Production - The first quarter of 2008 will be ~800,000 MCFE lower than Q4 of 2007 as a result of the divestiture of non-strategic properties which closed earlier today. Production associated with these properties in 2007 was ~5 BCFE. The Co’s announced $626 mln capital investment program for 2008 is weighted toward the second half of the year. As a result of this and the impact of the divestiture, production volumes in Q2 of 2008 are anticipated to dip slightly and then ramp up through the remainder of the year. On a pro forma basis, the Co’s production is expected to grow six percent at the mid-point of the annual guidance. There are no presumed production volumes from potential acquisitions included in the guidance above.
18:09 SM St. Mary announces year-end 2007 proved reserves exceed 1 TCFE; increases 2007 production guidance (35.22 -0.01)

Co announces its year-end 2007 estimated proved reserves for the Co and provides updated production and financial guidance for 2007. Co says, “St. Mary had a strong finish to 2007. We are increasing our production forecast for Q4 and will achieve a new annual production record with expected production growth exceeding 15% for the year. Additionally, the Co has reached a major milestone with proved reserves exceeding 1 TCFE resulting in another year of solid reserve replacement.” 2007 Oil and Gas Reserves Estimated proved oil and gas reserves as of December 31, 2007, increased 17% to 1,087 Bcfe from 928 Bcfe as of year-end 2006. These reserves are 56% natural gas and 23% proved undeveloped. Unaudited acquisition, development, and exploration costs for the year were ~$927 mln for 2007, which included $28 mln in costs related to asset retirement obligations. SM estimates its basis differential for Q4 of 2007 will be $5.50 to $6.50 per Bbl of oil. The Co estimates that it will receive a premium to NYMEX in the range of $0.00 to $0.10 per Mcf of gas as a result of the strong natural gas liquids prices experienced in Q4.
18:08 SIMO Silicon Motion reports Q4 (Dec) results, beats on revs; guides Q1 revs in-line; guides FY08 EPS below consensus, revs above consensus (15.40 -0.49)

Reports Q4 (Dec) earnings of $0.47 per share, excluding non-recurring items and option expense, may not be comparable to the First Call consensus of $0.47; revenues rose 47.9% year/year to $53.4 mln vs the $51.4 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $44-48 mln vs. $45.37 mln consensus. Co issues guidance for FY08, sees EPS of $1.55-1.65, ex-items, may not be comparable to $1.97 consensus; sees FY08 revs of $225-235 mln vs. $223.97 mln consensus.
18:03 MNST Monster Worldwide Earnings Call Summary (27.85 -0.76)

On call the co call says “given increasingly uncertain economic environment… it is not prudent to give guidance at this time. The co says it will continue to balance their investments for revenue growth and deliver a 25% non-GAAP operating margin by the end of the current year. It is their objective to grow their core business faster and the industry average while generating strong cash flow to their ongoing operations… The co says the number of intrusions to their web site since early Sept has dropped off dramatically because of the improvements they have been making to secure the site; efforts are designed to protect operations and customer data, improve the speed at which they implement global changes and secure future scale ability of the business… The firm says international business remained a solid performer in the quarter and throughout the year and was the main driver to overall corporate margin expansion. The co’s plan is to aggressively build market share in Europe, India and South Korea by investing in product, technology, and marketing in the gross markets. Asia-Pacific region represents a substantial growth opportunity for Monster Worldwide and anticipate acquiring the remaining 55% of China HR in the middle of 2008. The co says in ‘08 they will continue to further develop smaller markets in Eastern Europe, Poland and Czech Republic… Co says “following the anticipated investment in China and the cash needed to fund our buyback program we believe our cash flow generation provides ample flexibility to explore other capital allocation strategies and the appropriate acquisition activities for growth”… The co is positioning itself beyond the Monster Worldwide job business to be a life improvement engine, which will result in a disproportionate amount of marketing will be incurred in the first quarter of this year. They expect the marketing and promotion expenses in the first quarter of 2008 to approximate one third of the anticipated spend for of the year. In total, they currently expect the marketing production and promotion line to be a comparable percentage of revenue as it was in 2007.
18:00 MOT Motorola: Icahn reacts to Motorola’s announcement (11.50 +0.21) -Update-

In response to today’s announcement from MOT Carl C. Icahn today stated: “For many months I have been publicly advocating the separation of Mobile Devices from MOTs other business and I am pleased to see that MOT is finally exploring that proposal. However, we have previously informed MOT that we expect to run a slate of directors for the upcoming annual meeting and this announcement by MOT will not deter us from that effort — we believe MOT is finally moving in the right direction but certainly still has a long way to go.”
17:59 AVID Avid Tech Q4 Earnings Conference Call Summary (24.50 -0.26) -Update-

On call, co gives guidance and expects 2008 revs to be flat vs 2007 (co reported 2007 revs of $929.6 mln and 2008 First Call consensus is $975.11 mln)… Strong revs this qtr were offset with several things impacting bottom line. Gross margin for qtr was 49.6% and declined in all 3 of business units. The decrease in audio unit was because of higher air freight charges and consumer unit was affected by a write-off of inventory. Co says reasons for YoY changes in gross margins and operating expense was primarily from write off for discontinuing OEM pc product.. Operating expense were up and co anticipates expenses to increase in 2008. Co said its goal was to reduce inventory by $20 mln by end of year, co beat that goal with decrease of $27 mln… The writing strike has not negatively affected the business and some are even taking this time off to upgrade their equipment. Co does say a long strike could negatively effect business though.
17:58 ISRG Intuitive Surgical Earnings Call Summary -Update-

On the call, the co sold 78 da Vinci systems vs. 70 consensus (according to Cowen)… 26 out of the 78 systems were intl sales. The co added 67 employees during Q4, additions were to its worldwide sales and support and manufacturing organizations… Of particular note was the strength of the intl procedure growth, most notably within dVP. Its gynecologic procedure business paced by da Vinci hysterectomy and da Vinci registered the largest sequential percentage growth for the quarter, whereas urology registered the largest absolute procedure growth. For 2008, ISRG expects dVP procedures to grow approximately 40% from a base of approximately 55,000 procedures performed in 2007. And ISRG expects dVH procedures to grow approximately 150% from a base of approximately 13,000 procedures performed in 2007. Overall the co expects total procedures to grow at least 55% in 2008 from a base of approximately 85,000 procedures performed in 2007. With regard to revenue, co guided for 2008 revs (40% y/y growth) equates to $841.1 mln vs $811.2 mln consensus. System revenues have continued to grow strongly, and the co expects to see continued growth in system placements throughout 2008. ISRG is forecasting system revenues to grow approximately 30% over 2007. For 2008 the co expects its ASP to be approximately the same as last year, which was $1.33 million. With regard to its first-quarter 2008 revenue, please note that the fourth quarter is seasonally our strongest quarter for system sales, and the co typically place more systems in the fourth quarter than the following first quarter… The co expects Q1 2008 revenues to be sequentially lower than the fourth quarter of 2007… then the co expects to grow revenue sequentially each quarter throughout 2008. With regard to gross profit margin, the co expects to have modest year-over-year improvement in gross margin, driven primarily by improvements in manufacturing efficiency. The co is forecasting gross margins to be between 69 and 70% for the year… In response to an analyst question on the credit crunch impact, the co said that it is not seeing any delays due to credit crunch impact… (The stock is trading at $290.80)
17:58 EDE Empire District Elec reports 2007 results (22.09 +0.46)

Reports 2007 earnings of $1.09 per share, includes charges, may not be comparable to the First Call consensus of $1.06; revenues rose 18.9% year/year to $490.2 mln vs the $508.1 mln consensus.
17:57 VRSN VeriSign: Conference call update (33.92 +0.41) -Update-

Co says they have now completed the strategic business review and with the except of the core business as previously discussed, again, naming S. S. L. and identity and authentication services they intend to divest each of the remaining businesses discussed during analyst day including those noted as requiring additional time for decision. Co says overall their progress is on track with, and up to their expectations as discussed earlier. The co expects that there will be half a dozen or more transactions over the course of 2008 and they have already started to market several of these businesses and expect to add a couple more shortly. The co said they are pleased with the level of interest to date, both solicit and unsolicited. Co expects operating margins will be significantly higher yet again this year. Co reaffirms in Q1 they will place all qualifying businesses into discontinued operations for accounting, reporting purposes. When asked about their operating margins co says at year end they are targeting to get to 35% and as they make these divestitures, some of the indirect costs which have to be charged to the continuing operations don’t just drop off instead usually with the divestiture you have to manage them down. So there’s a little bit of a lag effect. Co says they view especially the two businesses naming and SSL as pretty much independent of the economic cycle. They are driven by Internet usage and adoption rates globally. When asked about how much cash they think they will generate with the divestitures, co says they haven’t thought about it yet but they hope to get about 10% of their market cap as cash hopefully. When asked if the co is not sticking to the FY08 guidance they gave at their analyst day of $1.15-1.29, co says the numbers that we talked about today you can use for modeling going forward. Call is on going.
17:56 ICE IntercontinentalExchange begins move to rival CME and Nymex - FT (139.19 +0.83) -Update-

FT reports the co has held talks with a fledgling futures exchange backed by a posse of banks and trading firms with a view to forming a competitor to a combined CME Group and NMX. Talks are at an early and informal stage, involving meetings between members of the new consortium and ICE management, according to people close to both sides. The new exchange, the working name for which is Four Seasons, remains in its early stages of development, with internal talks about the co’s mgmt structure and interviews for the role of chief executive taking place.
17:49 OMCL Omnicell reports EPS in-line, beats on revs (25.08 -1.25)

Reports Q4 (Dec) earnings of $0.28 per share, excluding non-recurring items, in-line with the First Call consensus of $0.28; revenues rose 4.9% year/year to $57.9 mln vs the $56.2 mln consensus.
17:48 ALB Albemarle enters agreement to produce active ingredient of potential new heart drug (36.25 +0.65) -Update-

Co has entered into a manufacturing agreement with Anthera Pharmaceuticals in preparation for the Phase III clinical trial of Varespladib (A-002), a potential new, oral anti-inflammatory drug aimed at treating preconditions that can lead to heart disease. Building on the work done by Anthera’s licensor, Eli Lilly, Albemarle will be responsible for process optimization and manufacture of cGMP quantities of the active pharmaceutical ingredient (API). The agreement also provides an option for the commercial production of Varespladib in the future.
17:47 HRB H&R Block implements cost reduction program; co plans to lower costs $110 mln annually (19.24 +0.49)

Co announced it has begun implementing a program to reduce corporate staff and overhead expenses by ~$110 mln per year. The Co expects to incur a pre-tax charge for severance-related benefits of ~$17 mln, most of which will be incurred in its fiscal third quarter ending Jan. 31, 2008, with the remainder occurring in the quarter ending April 30, 2008. None of the positions affected by today’s announcement are involved in field tax services or business services, which remain unaffected by today’s announcement. By April 30, 2008, the Co will eliminate ~325 filled and 180 open positions, representing ~23% of corporate support staffing. The Co expects to reduce compensation expense by ~$50 mln per year, or 12% of corporate support compensation and benefits costs. In addition, ~$60 mln of non-compensation overhead expenses such as consulting, travel and entertainment, will also be eliminated, representing 18% of such expenses.
17:47 Follow up on news that S&P comments on FGIC, MBIA & ABK

Bloomberg.com reports that Financial Guaranty Insurance Co, the world’s fourth-largest bond insurer, lost its AAA credit rating at Standard & Poor’s, which said it may cut the top ranking on MBI’s insurance unit as well. Security Capital Assurance’s (SCA) bond insurance and reinsurance subsidiaries were also placed under review for a downgrade by S&P, according to a statement today by the New York-based ratings company. Ambac Financial Group (ABK) insurer unit had its AAA credit rating affirmed by S&P. “This review is part of Standard & Poor’s ongoing assessment of the potential subprime-related losses that these bond insurers might incur and how they are managing their capital positions to handle the losses,” S&P said in the statement. Financial Guaranty, a unit of New York-based FGIC Corp., was cut two levels to AA, S&P said. The co had been AAA since at least 1984. MBIA, which announced earnings earlier today, told investors during a four-hour conference call that its capital raising plan is on track and it expected to maintain its AAA insurance rating. (Headlines regarding S&P’s actions hit newswires around the close today)
17:43 DRIV Digital River: Conference Call Summary -Update-

During the call, the company said they are being conservative in regards to their Symantec revenue expections for next quarter and says their outlook overall is tempered due to uncertainty in the US consumer market. The company says there are opportunities for revenues not assumed in their guidance, and generally, the company remains very confident in their underlying business model. DRIV also says they are seeing retraction in Europe, noting that they lost two large clients that are worth approx $10 mln in annualized revenues. However, the company says there is a track record of lost customers coming back later. DRIV is expecting significant growth with Microsoft (MSFT) this year, and is expecting this year to be better than the last. The company is very happy with their relationship. In 2008, DRIV is planning on investing $20 mln throughout the year, to be spread evenly, on expansion efforts and is expecting operating margin leverage in 2H08. DRIV is budgeting $10 mln for product and infrastructure improvements. In regards to the company’s share repurchase program, DRIV says they have $137 mln left on the authorization, and expects to be in the market buying this quarter. No accretion from buybacks is assumed in their guidance.
17:40 AB AllianceBernstein announces in an 8-K that the co enters into a $950 mln credit pact (66.39 -0.33)

Co announced that on January 25, 2008, a three-year $950 mln Revolving Credit Agreement was entered into among Sanford C. Bernstein & Co., LLC (a wholly-owned subsidiary of AllianceBernstein L.P., “SCB LLC”), as borrower, AllianceBernstein L.P., as U.S. guarantor, Citibank N.A., as administrative agent, Citigroup Global Markets Inc., as arranger, JPMorgan Chase Bank, N.A. and Bank of America, N.A., as co-syndication agents, HSBC Bank USA, National Association, as documentation agent, and certain other financial institutions.
17:37 MOT Motorola resumes trading… stock is trading around $12.72 in after hours (11.50 +0.21) -Update-

17:37 GOOG Google Conference Call Summary (564.30 +16.03) -Update-

Social networking inventory is not doing as well as initially indicated… anticipate other cost of sales could increase going forward… Says hiring in Q4 tends to be slower because of the holidays but will continue to move forward aggressively; decrease in margins was due to the overall decrease in TAC; as they said before margins may continue to decline as they aggressively invest in business… co says they are optimistic about 2008… You Tube seeing strong growth… traffic growth rate for paid click decelerated; says that they did see some better mix; have been weeding out low quality advertisers; also had non-clickable; also believes the timing of holidays were big as Xmas was on Monday/Tuesday which tends to be their biggest days… have had a challenge in Q4 with social networking advertising; still optimistic about future quarters… says that Europe is doing very well… Notes Q3 was a very good quarter and made for tough sequential comparisons… have not seen any negative impact from the ‘rumors’ of a future recession… stock is trading at $525 in after hours.
17:34 CTXS Citrix Systems discloses that the SEC that the SEC has completed its stock options investigation and it does not recommend any enforcement action (34.62 +0.17)

In its 8-K, the co discloses that “…during the course of the co’s stock option investigation, the co proactively discussed the results of its investigation with the Staff of the SEC. As part of this process, the co provided the Staff with information regarding the co’s restatement and its investigation. On January 30, 2008, the co received a letter from the Staff stating that the Staff has completed its investigation as to the co and that the Staff does not intend to recommend any enforcement action by the SEC against the co.”
17:31 OMCL prelim $0.28 vs $0.28 First Call consensus; revs $57.9 mln vs $56.20 mln First Call consensus

17:29 MOT Motorola: Icahn plans proxy fight for seats on Motorola Board - WSJ (11.50 -0.21) -Update-

17:27 AVID Avid Tech gives 2008 guidance on conference call, expects 2008 revs to be flat vs 2007 (24.50 -0.26) -Update-

Note: Co reported 2007 revs of $929.6 mln and 2008 First Call consensus is $975.11 mln
17:21 ISRG Intuitive Surgical: On call, the co says that they’re not seeing any delays due to the credit crunch -Update-

Stock is trading at $289.85.
17:20 HAIN Hain Celestial independent directors complete review of stock options (27.00 -0.4

Co announced that a group of independent directors (”the Independent Directors”) established to review the Co’s past stock option practices has reported its findings to the Board of Directors. The Co also announced that the Board of Directors had adopted each of the recommendations of these Independent Directors. In connection with the completion of the review, the Co announced that it is restating its previously issued financial statements to correct errors related to accounting for stock-based compensation expense. In its Form 10-K for the fiscal year ended June 30, 2007 to be filed today, the Co is restating its consolidated balance sheet as of June 30, 2006, and the related consolidated statements of operations, stockholders’ equity and cash flows for each of the fiscal years ended June 30, 2006 and 2005. Based on this review, the Co has determined that additional pre-tax, non-cash charges for stock-based compensation expense aggregating $16.9 mln ($11.7 mln after taxes) over the 12-year period from 1994 through 2005 should be recognized. The Co has determined that, based on revised measurement dates for certain stock options, the pre-tax, non-cash charges for stock-based compensation expense aggregated $20.5 mln , before the reversal of a 2005 stock option vesting acceleration charge of $3.6 mln recorded in 2005. The Co expects to file its annual report on Form 10-K for the year ended June 30, 2007, and its quarterly report on Form 10-Q for the quarter ended September 30, 2007, today.
17:18 MKTIN Market Internals -Update-

The Dow was up 1.67% at 12650, the Nasdaq was up 0.38% to close at 2390, and the S&P was up 1.68% to close at 1379. Leading sectors included: Health Care +13.1%, Homebuilding +11.6%, Leisure Products +8.7%, Education Services +8.5%, Thrifts and Mortgages +7.7. Lagging sectors included: Gold -2.3%, Oil and Gas Equipment -1.8%, Human Resources and Employment -1.6%, Airlines -1.3%, Brewers -1.2%. Today’s movement came from higher than avg volume (NYSE 2189, vs. 1615 avg, Nasdaq 2873, vs. 2263 avg), with advancers outpacing decliners (NYSE advance/decline 2525/824, Nasdaq 2042/976) with new lows outpacing new highs (NYSE new high/new low 31/93; Nasdaq 52/148).
17:15 SLW Silver Wheaton: Goldcorp Announces Secondary Offering Of Its Entire 48% Interest In Silver Wheaton (15.39 -0.91)

The co announces that Goldcorp (GG) and the co have entered into an agreement with a syndicate of underwriters co-led by Macquarie Capital Markets Canada, Genuity Capital Markets and GMP Securities, with Macquarie Capital Markets Canada and Genuity Capital Markets as co-bookrunners, pursuant to which the Underwriters have agreed to purchase from Goldcorp, on a bought deal basis, 108,000,000 common shares of Silver Wheaton at a price of C$14.50 per Common Share for aggregate gross proceeds to Goldcorp of C$1,566,000,000. The Offering represents the sale of Goldcorp’s entire 48% interest in Silver Wheaton. Silver Wheaton will not receive any proceeds from the Offering.
17:14 OREX Orexigen Therapeutics: SAC Capital discloses 8.3% stake in SC 13G filing (10.55 -0.39) -Update-

17:13 XPO Express-1 expects Full Year 2008 revenue to exceed $120 mln (1.01 -0.02)

Co announces that its newly created wholly owned subsidiary Concert Group Logistics, Inc., has acquired substantially all of the assets of Concert Group Logistics. Co anticipates Q4 EPS of $0.01-0.02 with revs of $13.9-14.1 mln. For FY07 co expects EPS of $0.07-0.08 with revs of $52.5-52.8 mln. For FY08 co expects EPS of $0.11-0.12 with revs of $120-125 mln.
17:12 ALB Albemarle: SAC Capital discloses 5.1% stake in SC 13G (36.25 +0.65)

17:05 CHRT Chartered Semi misses by $0.01, beats on revs; guides Q1 EPS in-line, revs above consensus (5.40 -0.1

Reports Q4 (Dec) earnings of $0.01 per share, $0.01 worse than the First Call consensus of $0.02; revenues rose 4.0% year/year to $352.6 mln vs the $343.9 mln consensus. Co issues in-line EPS guidance for Q1, sees EPS of $(0.03)-0.01 vs. ($0.01) consensus; sees Q1 revs of $361-373 mln vs. $336.73 mln consensus.
17:05 MANT ManTech announces preliminary 4Q07 results above consensus; guides FY08 EPS above consensus (40.90 +1.77)

Co sees 4Q07 EPS of $0.61 vs $0.55 First Call consensus; 4Q07 revs of $422 mln vs $397.11 mln First Call consensus. Sees FY07 $1.95 vs $1.88 First Call consensus; sees revs $1.45 bln vs $1.42 bln First Call consensus. Sees FY08 $2.34-2.46 vs $2.32 First Call consensus; sees revs $1.725-1.785 bln vs $1.73 bln First Call consensus
17:03 ISRG Intuitive Surgical: Guidance equates to $841.1 mln vs $811.2 mln consensus -Update-

Stock trading at 275.00
17:02 MANT sees FY08 $2.34-2.46 vs $2.32 First Call consensus; sees revs $1725-1785 mln vs $1.73 bln First Call consensus

17:02 CHRT sees Q1 $(0.03)-0.01 vs ($0.01) First Call consensus; sees revs $361-373 mln vs $336.73 mln First Call consensus

17:02 NEU prelim $0.96 vs $1.00 single analyst estimate - no revs

17:01 MANT sees FY07 $1.95 vs $1.88 First Call consensus; sees revs $1.45 bln vs $1.42 bln First Call consensus

17:01 BHBC Beverly Hills Bancorp receives favorable litigation decision (5.14 -0.07)

Co announced that it received a favorable outcome in the litigation with its former loan servicing subsidiary, Wilshire Credit Corporation and Merrill Lynch Mortgage Capital, which had purchased Wilshire Credit Corporation from co in 2004. On January 23, 2008, a jury found that the co had no liability relating to the claims being litigated. The co had instituted the litigation in July 2005 seeking declaratory relief that the co was not obligated to reimburse Wilshire Credit Corporation for certain costs purportedly incurred in connection with Wilshire Credit Corporation performance under one of its loan servicing agreements. The cos were seeking damages of ~$3.7 million. The co’s legal counsel believes that the verdict will be upheld should the verdict be appealed.
17:01 MANT sees 4Q07 EPS of $0.61 vs $0.55 First Call consensus; 4Q07 revs of $422 mln vs $397.11 mln First Call consensus

17:01 DDUP Data Domain beats by $0.01, beats on revs - correction (22.54 -0.14) -Update-

Reports Q4 (Dec) earnings of $0.00 per share, including stock based compensation expense, $0.01 better than the First Call consensus of ($0.01); revenues rose 150.8% year/year to $44.9 mln vs the $39.2 mln consensus.
17:01 UPS UPS raises quarterly dividend to $0.45 from $0.42 (72.97 )

17:01 CHRT prelim $0.01 vs $0.02 First Call consensus; revs $352.6 mln vs $343.89 mln First Call consensus

16:57 TMY Transmeridian exploration extends time for acquirer to meet financing condition (1.41 -0.01)

Co announces that it has granted a time extension for satisfaction of the financing condition contained in its agreement to be acquired by Trans Meridian International. Pursuant to the extension, the co will have the right to terminate the merger agreement without liability to TMY at any time after Feb 15, 2008, if the financing condition is not satisfied. As permitted by the terms of the definitive agreement with TMY, the co remains in communication with other interested parties. The merger agreement permits the co to solicit competing offers for the acquisition of the co until the financing condition to TMY’s obligation to commence the tender offer contemplated by the merger agreement is satisfied.
16:49 Writers Guild reaches agreement with Intermedia - Bloomberg

16:47 MOT Motorola to explore structural and strategic realignment of its businesses to enhance shareholder value (11.50 +0.21) -Update-

Co announces it is exploring the structural and strategic realign its businesses to better equip its Mobile Devices business to recapture market leadership and to enhance shareholder value. The company’s alt may include the separation of Mobile Devices from its other businesses to permit each business to grow and better serve its customer. The company does not intend to discuss developments with respect to the exploration of strategic alternatives unless or until its Board of Directors has approved a definitive transaction or the process is otherwise complete. There can be no assurance that any transaction will occur or, if one is undertaken, its terms or timing. “We are exploring ways in which our Mobile Devices Business can accelerate its recovery and retain and attract talent while enabling our shareholders to realize the value of this great franchise … (stock is halted).
16:46 TDY Teledyne Tech acquires TSS International (51.63 +0.99)

Co announces that its subsidiary, Teledyne, has acquired S G Brown Limited and its wholly-owned subsidiary T.S.S for GBP 29 mln (approximately $57.7 mln). TSS had revenue of GBP 12.0 mln (approximately $23.9 mln) for its fiscal year ended March 31, 2007.
16:43 ERTS Electronic Arts reports EPS in-line, revs in-line; guides Q4 EPS (47.37 +0.14)

Reports Q3 (Dec) earnings of $0.90 per share, in-line with the First Call consensus of $0.90; revenues rose 35.4% year/year to $1.73 bln which includes in a $231 mln sequential net increase in deferred net rev as of Dec 31, 2007, which will be recognized in future periods vs the $1.74 bln consensus which appears to be on the same basis. Co issues guidance for Q4, sees EPS of (0.03) - $0.02 vs. $0.16 consensus; sees Q4 revs of $775-850 mln excluding the impact of the change in deferred net revenue (packaged goods and digital content) vs. $837.31 mln consensus.
16:43 SYMM Symmetricom misses by $0.02, misses on revs (4.37 +0.17)

Reports Q2 (Dec) earnings of $0.04 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.06; revenues fell 5.8% year/year to $48.8 mln vs the $52.3 mln consensus. Co says, “We remain optimistic that increased purchasing levels by our largest customers will resume in the second half once telecom cap ex budgets are finalized. In our emerging cable business, we gained significant traction, with bookings for our DOCSIS Timing product topping one million dollars in the quarter.”
16:42 SWIR Sierra Wireless beats by $0.02, beats on revs; guides Q1 EPS above consensus, revs above consensus (14.81 +0.13)

Reports Q4 (Dec) earnings of $0.37 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.35; revenues rose 98.5% year/year to $135.6 mln vs the $125.7 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.30, excluding non-recurring items, vs. $0.28 consensus; sees Q1 revs of $136 mln vs. $120.71 mln consensus.
16:40 ONNN ON Semiconductor beats by $0.02, reports revs in-line; guides Q1 down 3-7% sequentially (6.48 -0.03)

Reports Q4 (Dec) earnings of $0.23 per share, $0.02 better than the First Call consensus of $0.21; revenues rose 1.2% year/year to $407.9 mln vs the $407.1 mln consensus. Says Q1 total revs will be down approximately 3-7% sequentially in 1Q08 (calculates to roughly $379.3-$395.6 mln vs $399.2 consensus). “Backlog levels at the beginning of the first quarter of 2008 were down from backlog levels at the beginning of the fourth quarter of 2007 and represent over 90% of our anticipated first quarter 2008 revenues. We expect that average selling prices for the first quarter of 2008 will be down approximately one percent sequentially. We expect our total gross margin in the first quarter of 2008 to be approximately 35.5-36.5% and our product gross margin to be approximately 37.5-38.5%.”
16:39 ACLS Axcelis Tech beats by $0.01, beats on revs; guides Q1 EPS in-line, revs in-line (3.99 -0.01)

Reports Q4 (Dec) loss of $0.08 per share, excluding non-recurring items, $0.01 better than the First Call consensus of ($0.09); revenues fell 27.3% year/year to $89.6 mln vs the $85.8 mln consensus. Co issues in-line guidance for Q1, sees EPS of ($0.08-$0.04) vs. ($0.04) consensus; sees Q1 revs of $80-95 mln vs. $90.67 mln consensus. “The past year was clearly a challenging one for Axcelis, particularly given the downturn in the semiconductor industry. While market conditions are expected to continue to be weak in 2008, we are well positioned to compete with our complete platform of Optima single wafer implanters. Optima HDs are in volume manufacturing at customer fabs and we are encouraged by the production and process advantages our customers are reporting. We expect these successes to continue and translate into opportunities for capacity orders.”
16:38 TRID Trident Microsystems beats by $0.07, beats on revs

Reports Q2 (Dec) earnings of $0.30 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.23; revenues rose 9.8% year/year to $75 mln vs the $70.7 mln consensus. Co expects net revs for 2H08 to be in the range of approx $100-110 mln. Non-GAAP gross margins are projected to decrease to the 45-47% range for this period. “Going forward, Trident will be in a period of product transition as we move to develop and deliver more SoC solutions. We foresee a more competitive environment ahead and expect our results to be impacted in calendar year 2008.”
16:38 NWK Network Equip beats by a penny, slight beat on revs (7.44 -0.01)

Reports Q3 (Dec) earnings of $0.09 per share, ex-items, $0.01 better than First Call consensus of $0.08; revenues increased 36% year/year to $29.0 mln vs the $28.32 mln consensus. “…I am encouraged by the acceptance of our products from international and federal government customers and the expanding opportunity emerging for us in the enterprise market for unified communications. Further, with the addition of Quintum Technologies and our own product development, we are able to offer a broad product line to our customers…”
16:37 IUSA InfoUSA reports Q4 (Dec) results, beats on revs (8.79 +0.21)

Reports Q4 (Dec) earnings of $0.22 per share, includes charge, may not be comparable to the First Call consensus of $0.20; revenues rose 48.5% year/year to $185.8 mln vs the $175.6 mln consensus.
16:37 ACS Affiliated Computer beats by $0.07, reports revs in-line (48.75 +2.85)

Reports Q2 (Dec) earnings of $0.90 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.83; revenues rose 5.9% year/year to $1.51 bln vs the $1.52 bln consensus.
16:35 SWIR sees Q1 $0.35 vs $0.28 First Call consensus; sees revs $136 mln vs $120.71 mln First Call consensus

16:35 SWIR prelim $0.37 vs $0.35 First Call consensus; revs $135.6 mln vs $125.71 mln First Call consensus

16:35 MCRL Micrel beats by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs below consensus (6.10 +0.27)

Reports Q4 (Dec) earnings of $0.12 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.11; revenues rose 0.2% year/year to $64.6 mln vs the $64 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.10 vs. $0.11 consensus; sees Q1 rev down 1-4% sequentially or roughly $62.0-64.0 mln vs. $64.48 mln consensus.
16:35 PKTR Packeteer beats by $0.01, beats on revs (4.96 +0.33)

Reports Q4 (Dec) earnings of $0.01 per share, $0.01 better than the First Call consensus of ($0.00); revenues fell 4.2% year/year to $40.9 mln vs the $38 mln consensus.
16:35 BHLB Berkshire Hills Bancorp expects record 2008 EPS of $2.16 vs $2.15 First Call consensus (23.76 +1.4

Co announced that it expects record EPS of $2.16 in 2008 (vs $2.15 First Call consensus). Earnings are expected to benefit from revenue growth exceeding 20%, reflecting the contributions of organic growth and recent acquisitions. Earnings growth in 2008 is also expected to result from improved efficiencies, with the efficiency ratio declining to 61% or below, from around 63% in 2007. The co also discusses the decrease in delinquent loans and nonperforming assets in the most recent quarter. Management stated that current indications are that ongoing charge-offs will remain comparatively low in 2008. Management reported that the loan portfolio is sound, and reiterated that Berkshire has no subprime lending programs.
16:35 AVNX Avanex reports EPS in-line, revs in-line; guides Q3 revs below consensus (0.95 )

Reports Q2 (Dec) earnings of $0.01 per share, excluding non-recurring items, in-line with the First Call consensus of $0.01; revenues fell 4.9% year/year to $52 mln vs the $52.1 mln consensus. Co issues downside guidance for Q3, sees Q3 revs of $46-50 mln vs. $51.80 mln consensus.
16:34 ELY Callaway Golf misses by $0.05, beats on revs; guides FY08 EPS in-line, revs in-line (17.99 +1.24)

Reports Q4 (Dec) loss of $0.24 per share, $0.05 worse than the First Call consensus of ($0.19); revenues fell 3.1% year/year to $174.4 mln vs the $162.5 mln consensus. Co issues in-line guidance for FY08, sees EPS of $1.08-1.18 vs. $1.15 consensus; sees FY08 revs of $1.14-1.16 vs. $1.15 bln consensus.
16:34 VRSN VeriSign beats by $0.01, beats on revs (33.92 )

Reports Q4 (Dec) earnings of $0.30 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.29; revenues fell 5.4% year/year to $386.4 mln vs the $380.8 mln consensus. “We met our financial goals for the fourth quarter, closing out a solid year as non-GAAP operating margin excluding Jamba improved over 650 basis points from year ago results.”
16:34 COGO Comtech sees in line Q4 EPS guidance, sees Q4 revs above consensus; issues Y08 guidance (10.76 +0.46)

Co issues guidance for Q4 (Dec), sees non-GAAP EPS of approx $0.22 vs. $0.22 First Call consensus; sees Q4 (Dec) revs of more than $70.5 mln vs. $69.55 mln consensus. “Downturns in the US economy have little effect on Comtech because of our focus on the Chinese domestic market, which remains strong due to robust consumer spending, and other emerging markets, such as India, that continue to experience vigorous growth. Based on the company’s organic expansion and strategic new business and acquisitions in the pipeline, Comtech is well-positioned for 2008, and management estimates increases of 25-30% in revenue and non-GAAP EPS.”
16:33 OPLK Oplink Comms beats by $0.11, reports revs in-line; guides Q3 EPS in-line, revs below consensus (12.77 +0.32)

Reports Q2 (Dec) earnings of $0.18 per share, $0.11 better than the First Call consensus of $0.07; revenues rose 112.6% year/year to $48.9 mln vs the $48.7 mln consensus. Co issues guidance for Q3, sees EPS of $0.12-0.16 vs. $0.16 consensus; sees Q3 revs of $41-45 mln vs. $49.51 mln consensus.
16:33 MCRS Micros Systems beats by $0.07, beats on revs; guides Q3 EPS in-line, revs in-line (61.58 +1.5

Reports Q2 (Dec) earnings of $0.68 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.61; revenues rose 28.5% year/year to $244 mln vs the $220.7 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.63-0.67 vs. $0.65 consensus; sees Q3 revs of $228-232 mln vs. $229.83 mln consensus.
16:33 JAZZ Jazz Pharma announces submission of complete response to FDA approvable letter for LUVOX CR (13.45 -0.81)

Co announced that the U.S. Food and Drug Administration has accepted for review the submission of the response by Solvay Pharmaceuticals to the FDA approvable letter for LuvoxCR Extended-Release Capsules. The FDA has notified Solvay Pharmaceuticals that it considers this a complete, class 1 response and the PDUFA action date is February 29, 2008. Co continues to expect to launch LuvoxCR in the United States during Q1 of 2008.
16:33 MXIM Maxim Integrated beats on revs, doesn’t report EPS due to ongoing restatements of financials, guides Q3 revs in-line (19.66 +0.97)

Reports Q2 revenues increased 8.6% year/year to $540 mln vs the $497.23 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $475-495 mln vs. $476.03 mln consensus.
16:33 PKTR Packeteer beats by $0.01, beats on revs (4.96 +0.33)

Reports Q4 (Dec) earnings of $0.01 per share, $0.01 better than the First Call consensus of ($0.00); revenues fell 4.2% year/year to $40.9 mln vs the $38 mln consensus. Says outlook for 2008 is ‘very positive’.
16:32 VRTU Virtusa reports 3Q08 results; guides Q4 and FY08 (14.93 +0.29)

Co reports 3Q07 EPS of $0.21 vs $0.17 First Call consensus; revs $42.5 mln vs $42.47 mln First Call consensus. Sees Q4 $0.18-0.20 vs $0.18 First Call consensus; sees revs $44.5-45.7 mln vs $45.13 mln First Call consensus. Sees FY08 $0.72-0.76 vs $0.69 First Call consensus; sees revs $164.7-165.9 mln vs $165.40 mln First Call consensus.
16:32 CEG Constellation Energy and SunEdison sign solar renewable energy credit agreement in Maryland (93.73 +1.33)

SunEdison announces a 15-year agreement to sell Constellation Energy Commodities Group (CEG) an estimated four megawatts of solar renewable energy credits in Maryland. When completed, the installations covered under this agreement will provide 30% of Maryland’s Renewable Portfolio Standard solar energy requirements in 2008, and almost 60% in 2009. This long-term agreement will permit SunEdison to install solar systems on its customers’ properties, and the estimated four MW of facilities to be built will more than triple the capacity of solar generation operating in the state.
16:31 COGO sees Q4 non-GAAP EPS of approx $0.22 vs $0.22 consensus

16:31 IUSA prelim $0.22, including charge, may not be comparable to $0.20 First Call consensus; revs $185.8 mln vs $175.58 mln First Call consensus

16:30 COGO sees Q4 revs of more than $70.5 mln vs $69.6 mln consensus

16:30 EPIX EPIX Pharmaceuticals reaches agreement with FDA on protocol, initiates re-read of Vasovist Phase 3 images (2.86 +0.03)

The co announces that it has reached agreement with the FDA on its proposal for the re-read of images of its novel blood pool magnetic resonance angiographic agent, Vasovist. EPIX has received an Action Letter from the FDA confirming that the jointly agreed-upon protocol design and statistical analysis plan adequately address the objectives necessary to support the resubmission of the New Drug Application for Vasovist. EPIX has initiated the re-read of images obtained in prior Phase 3 studies. Vasovist has been approved for marketing in 33 countries outside of the U.S.
16:30 PFWD Phase Forward misses by $0.01, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY08 EPS below consensus, revs above consensus (17.25 +0.93)

Reports Q4 (Dec) earnings of non-GAAP EPS of $0.41, which includes net $0.26 in gains, excluding these gain we calculate that $0.15 per share, excluding non-recurring items is comparable to the First Call consensus of $0.16; revenues rose 25.2% year/year to $37.8 mln vs the $36.7 mln consensus.Co issues mixed guidance for Q1, sees EPS of $0.10-0.11 vs. $0.13 consensus; sees Q1 revs of $37-37.6 mln vs. $36.84 mln consensus. Co issues mixed guidance for FY08, sees EPS of $0.46-0.49 vs. $0.55 consensus; sees FY08 revs of $165-169 mln vs. $162.08 mln consensus.
16:30 DNEX Dionex beats by $0.05, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY08 EPS above consensus, revs above consensus (70.10 -0.02)

Reports Q2 (Dec) earnings of $0.77 per share, $0.05 better than the First Call consensus of $0.72; revenues rose 17.4% year/year to $98 mln vs the $91.4 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.66-0.70 vs. $0.68 consensus; sees Q3 revs of $92-96 mln vs. $90.52 mln consensus. Co issues upside guidance for FY08, sees EPS of $2.62-2.69 vs. $2.61 consensus; sees FY08 revs of $363-370 mln vs. $358.17 mln consensus.
16:30 VRTU sees FY08 $0.72-0.76 vs $0.69 First Call consensus; sees revs $164.7-165.9 mln vs $165.40 mln First Call consensus

16:30 CLS Celestica beats by $0.03, beats on revs; guides Q1 EPS in-line, revs in-line (5.63 +0.22)

Reports Q4 (Dec) earnings of $0.16 per share, $0.03 better than the First Call consensus of $0.13; revenues fell 2.2% year/year to $2.21 bln vs the $2.09 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.06-$0.11 vs. $0.08 consensus; sees Q1 revs of $1.7-$1.9 vs. $1.88 bln consensus.
16:29 SAF SAFECO beats by $0.07 (53.37 +2.96)

Reports Q4 (Dec) earnings of $1.51 per share, $0.07 better than the First Call consensus of $1.44.
16:29 VRTU sees Q4 $0.18-0.20 vs $0.18 First Call consensus; sees revs $44.5-45.7 mln vs $45.13 mln First Call consensus

16:29 FMD First Marblehead beats by $0.05 (16.44 )

Reports Q2 (Dec) loss of $1.26 per share, $0.05 better than the First Call consensus of ($1.31). “Even though our business volumes were strong in the second fiscal quarter, our earnings were affected by the volatility in the capital markets.”
16:29 VRTU prelim $0.21 vs $0.17 First Call consensus; revs $42.5 mln vs $42.47 mln First Call consensus

16:29 BEZ Baldor Electric beats by $0.02, misses on revs (30.38 +1.13)

Reports Q4 (Dec) earnings of $0.51 per share, $0.02 better than the First Call consensus of $0.49; revenues rose 127.9% year/year to $457 mln vs the $468 mln consensus.
16:28 ABAX Abaxis misses by $0.02, misses on revs (32.55 -0.91)

Reports Q3 (Dec) earnings of $0.14 per share, $0.02 worse than the First Call consensus of $0.16; revenues rose 17% year/year to $25.7 mln vs the $26.45 mln consensus.
16:28 ZIGO Zygo beats by $0.04, misses on revs (11.73 +0.79)

Reports Q2 (Dec) earnings of $0.12 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.08; revenues fell 9.6% year/year to $40.4 mln vs the $42.2 mln consensus.
16:27 SLRY Salary.com beats by $0.05, beats on revs; guides Q4 revs in-line; guides FY08 revs in-line (10.45 -0.27)

Reports Q3 (Dec) loss of $0.06 per share, $0.05 better than the First Call consensus of ($0.11); revenues rose 52.4% year/year to $9.2 mln vs the $9.1 mln consensus. Co issues in-line guidance for Q4, sees Q4 revs of $9.6-10.1 mln vs. $10.01 mln consensus. Non-GAAP net loss, which excludes non-cash stock-based compensation expenses of approximately $1.6 million and amortization of intangibles of approximately $0.8 million, is expected to be in the range of $1.1 to $1.3 million. Co issues in-line guidance for FY08, sees FY08 revs of $34.3-35.3 mln vs. $35.09 mln consensus. Non-GAAP net loss, which excludes non-cash impact of stock-based compensation expense of approximately $5.0 million and amortization of intangibles of approximately $1.8 million, is expected to be in the range of $3.6 to $3.8 million.
16:27 FDS FactSet Acquires DealMaven for $14 million; acquisition is not expected to have an impact on FactSet’s Q2 and FY08 EPS (56.04 +1.09)

16:27 BCR C.R. Bard beats by $0.01, beats on revs (96.12 +0.52)

Reports Q4 (Dec) earnings of $1.01 per share, $0.01 better than the First Call consensus of $1.00; revenues rose 12.2% year/year to $583.3 mln vs the $571.2 mln consensus.
16:27 TSRA Tessera Tech beats by $0.01, reports revs in-line; guides Q1 revs above consensus; guides Q2 (Jun) revs above consensus (39.17 +0.63)

Reports Q4 (Dec) earnings of $0.27 per share, $0.01 better than the First Call consensus of $0.26; revenues rose 5.6% year/year to $53 mln vs the $52.7 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $55-57 mln vs. $52.40 mln consensus. Non-GAAP operating expenses for the first quarter are projected to be approx $25.5 mln, excluding litigation expenses but including expenses the company expects to incur as a result of its FotoNation acquisition. Litigation expenses are projected to range from $10 mln to $15 mln. The company’s book tax rate is projected to be 43 percent of pre-tax profit, but could be higher depending on the magnitude of the charge for in-process research and development. Cash taxes are projected to approximate $3.3 mln in the first quarter. The fully diluted share count is expected to be 50 mln shares. Co issues upside guidance for Q2 (Jun), sees Q2 (Jun) revs of $53.55 mln vs. $52.65 mln consensus. As mentioned at 16:05 the co announced it has entered into a definitive agreement to acquire FotoNation and expects the transaction to close in February, 2008. The co expects the FotoNation acquisition will be neutral to 1-2 cents dilutive to non-GAAP earnings for the full year 2008 and accretive thereafter. In the first quarter of 2008, as a result of the acquisition Tessera anticipates recording a non-cash charge to GAAP earnings for in-process research and development. While revenues will not be material to Tessera near term, the co is confident FotoNation will contribute meaningfully to its long-term consumer optics royalties and license fees.
16:26 MIL Millipore reports EPS in-line, misses on revs (70.15 +0.87)

Reports Q4 (Dec) earnings of $0.98 per share, in-line with the First Call consensus of $0.98; revenues rose 5.8% year/year to $405.2 mln vs the $410.3 mln consensus.
16:26 MNT Mentor Corp beats by $0.06, reports revs in-line (34.38 -0.42)

Reports Q3 (Dec) earnings of $0.37 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.31; revenues rose 23.4% year/year to $92.9 mln vs the $93.4 mln consensus.
16:26 CERN Cerner beats by $0.01, misses on revs; guides Q1 EPS below consensus, revs below consensus (52.40 -0.12)

Reports Q4 (Dec) earnings of $0.52 per share, $0.01 better than the First Call consensus of $0.51. CERN sees Y08 EPS to grow more than 20%. Co issues downside guidance for Q1, sees EPS of $0.43-0.44 vs. $0.45 consensus; sees Q1 revs of $390-400 mln vs. $405.25 mln consensus.
16:26 STAR Starent Networks beats by $0.03, beats on revs (12.36 )

Reports Q4 (Dec) earnings of $0.06 per share, $0.03 better than the First Call consensus of $0.03; revenues rose 109.1% year/year to $50.6 mln vs the $43.1 mln consensus.
16:25 SXE Stanley Inc. reports EPS in-line, misses on revs; guides Q4 EPS in-line, revs in-line (27.90 -0.53)

Reports Q3 (Dec) earnings of $0.29 per share, in-line with the First Call consensus of $0.29; revenues rose 44.2% year/year to $147.1 mln vs the $157.2 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.30-0.32 vs. $0.31 consensus; sees Q4 revs of $164-174 mln vs. $164.50 mln consensus.
16:25 MOT Motorola trading halted - news pending (11.50 +0.21)

16:25 TECHX Equity markets finish the session strong, this time holding on to impressive gains

The major averages finished with a solid advance across the board, a day after seeing strong afternoon gains evaporate in late trade. The indices may very well have settled near their best levels but for the second session in a row, we saw late day negative news come out of the financial space as S&P cut FGIC’s Financial Strength rating while adding it may cut MBI & XLCA ratings further. This pulled the markets down from the highs quickly but we saw buyers surface once again on the dip & boost the indices back higher. In the end, the Dow Industrials Average finished with triple digit gains. Trader’s & investors now await the Jan. Dept. of Labor Employment Report scheduled for release @ 8:30a.m. Est tomorrow which analysts call for a 70K figure for the Nonfarm Payrolls. Unofficially, INDU settled @ 12650 +207.5, SPX @ 1378.50 +22.75, COMPQ @ 2390 +41, NDX @ 1841.50 +33.00, & RUT @ 713 +17.75. Today’s sector strength is noted in Homebuilders (XHB +8.1%), Retailers (XRT +4.50%), Consumer Discretionary (XLY +4.2%), Financials (XLF +4.1%), & Financial Services (IYG +3.2%). Sector weakness in today’s session is noted in Semiconductors (SMH -2.3%), Energy (OIH -1.1%, USO -1.0%, XLE -0.80%), & Gold (GLD -0.70%).
16:24 IWOV Interwoven reports Q4 EPS $0.18 vs $0.17 First Call consensus; revs $62.9 mln vs $59.68 mln First Call consensus (12.67 )

16:24 INFN Infinera reports Q4 (Dec) results, beats on revs (10.19 +0.17)

Reports Q4 (Dec) earnings of $0.17 per share, excluding charges and stock based compensation expense, may not be comparable to the First Call consensus of $0.02; revenues rose 32.5% year/year to $93.4 mln vs the $85.4 mln consensus.
16:24 ISSI Integrated Silicon reports Q1 (Dec) results, misses on revs (5.85 -0.07)

Reports Q1 (Dec) earnings of $0.08 per share, includes $0.5 mln expense for fees associated with co’s recent tender offer, may not be comparable to the First Call consensus of $0.04; revenues rose 1.9% year/year to $63.3 mln vs the $64.5 mln consensus.
16:24 RDEN Elizabeth Arden reports EPS in-line, misses on revs; guides Q3 EPS below consensus; reaffirms FY08 EPS guidance (20.05 +0.53)

Reports Q2 (Dec) earnings of $1.15 per share, in-line with the First Call consensus of $1.15; revenues rose 2.8% year/year to $422.4 mln vs the $434.5 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.04-0.08 vs. $0.19 consensus; For the third fiscal quarter ending March 31, 2008, the Company expects net sales to increase in the low single digits as compared to the prior year quarter. Co reaffirms guidance for FY08, sees EPS of reaffirming $1.65-1.72 vs. $1.69 consensus.
16:23 MNST Monster Worldwide beats by $0.03 ex-items, reports revs in-line; announces $100 mln buyback (27.85 )

Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.38; revenues rose 18.4% year/year to $354 mln vs the $352.7 mln consensus. Co also announces additional $100 mln buyback.
16:23 LAVA Magma Design beats by $0.02, beats on revs; guides Q4 EPS in-line, revs above consensus; guides FY08 EPS above consensus, revs above consensus (11.40 -0.41)

Reports Q3 (Dec) earnings of $0.16 per share, $0.02 better than the First Call consensus of $0.14; revenues rose 23.5% year/year to $55.7 mln vs the $54.1 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.15-$0.17 vs. $0.15 consensus; sees Q4 revs of $56-$58 vs. $55.72 mln consensus. Co issues upside guidance for FY08, sees EPS of $0.56-$0.58 vs. $0.54 consensus; sees FY08 revs of $215-$217 vs. $213.42 mln consensus.
16:23 COLM Columbia Sportswear beats by $0.12, beats on revs; guides Q1 EPS below consensus, revs below consensus (43.65 +1.96)

Reports Q4 (Dec) earnings of $1.12 per share, excluding $0.14 benefit, $0.12 better than the First Call consensus of $1.00; revenues rose 4.1% year/year to $376.7 mln vs the $372.2 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.51 vs. $0.61 consensus; sees Q1 revs of $283.8 mln vs. $301.85 mln consensus.
16:21 DRIV Digital River reports EPS in-line, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY08 EPS below consensus, revs below consensus (37.50 )

Reports Q4 (Dec) earnings of $0.53 per share, in-line with the First Call consensus of $0.53; revenues rose 16.7% year/year to $96.9 mln vs the $95.8 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.48 vs. $0.58 consensus; sees Q1 revs of $98.5 vs. $102.74 mln consensus. Co issues downside guidance for FY08, sees EPS of $1.88 vs. $2.19 consensus; sees FY08 revs of $395 vs. $405.89 mln consensus.
16:21 PSEM Pericom Semi reports EPS in-line, beats on revs; guides Q3 revs in-line (13.56 -0.71)

Reports Q2 (Dec) earnings of $0.16 per share, in-line with the First Call consensus of $0.16; revenues rose 5.7% year/year to $40.7 mln vs the $40 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $38.5-40.7 vs. $39.47 mln consensus.
16:21 EXAR Exar beats by $0.01, misses on revs; guides Q4 revs below consensus (8.21 +0.21)

Reports Q3 (Dec) loss of $0.04 per share, $0.01 better than the First Call consensus of ($0.05). Co issues downside guidance for Q4, sees Q4 revs of $28.5-31.5 vs. $32.77 mln consensus.
16:21 COHU Cohu beats by $0.01, misses on revs (14.95 +0.83)

Reports Q4 (Dec) earnings of $0.09 per share, $0.01 better than the First Call dual-analyst est of $0.08; revenues fell 25.5% year/year to $57.1 mln vs the $60 mln single-analyst est. Co says, “Although we have seen some improvement in forecasts from certain customers in recent weeks, we do not expect any significant improvement in business conditions over the near term.”
16:20 ALTR Altera reports Q4 (Dec) results, beats on revs; guides Q1 revs above consensus (16.89 -1.10)

Reports Q4 (Dec) earnings of $0.20 per share, includes previously announced $5.2 mln pretax restructuring charge, may not be comparable to the First Call consensus of $0.17; revenues rose 2.3% year/year to $323.2 mln vs the $309.9 mln consensus. Co issues upside guidance for Q1, sees Q1 revs 0 to +2%, which equates to approx $323-330 mln vs. $319.06 mln consensus.
16:19 DLB Dolbys Labs beats by $0.10, beats on revs; guides FY08 EPS in-line, revs in-line (42.93 )

Reports Q1 (Dec) earnings of $0.42 per share, $0.10 better than the First Call consensus of $0.32; revenues rose 43.9% year/year to $150.2 mln vs the $134.4 mln consensus. Co issues in-line guidance for FY08, sees EPS of $1.34-1.44 vs. $1.37 consensus; sees FY08 revs of $575-615 mln vs. $588.94 mln consensus.
16:19 BEBE bebe stores beats by $0.01, reports revs in-line; guides Q3 EPS below consensus (11.52 +0.31)

Reports Q2 (Dec) earnings of $0.26 per share, $0.01 better than the First Call consensus of $0.25; revenues rose 3.3% year/year to $203.3 mln vs the $204 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.08-0.12 vs. $0.15 consensus.
16:18 ACTU Actuate beats by $0.01, beats on revs (5.70 -0.15)

Reports Q4 (Dec) earnings of $0.11 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.10; revenues rose 11.7% year/year to $39.2 mln vs the $38.4 mln consensus.
16:18 ACLS sees Q1 ($0.08-0.04) vs ($0.04) First Call consensus; sees revs $80-95 mln vs $90.67 mln First Call consensus

16:18 SMTL Semitool misses by $0.03, misses on revs; guides Q2 EPS above consensus, revs above consensus (8.79 +0.33)

Reports Q1 (Dec) loss of $0.02 per share, $0.03 worse than the First Call consensus of $0.01; revenues fell 28.5% year/year to $48.6 mln vs the $50 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.06-0.08 vs. $0.06 consensus; sees Q2 revs of $59-61 mln vs. $57.50 mln consensus.
16:18 TRID Trident Microsystems expects 2H08 revs of $100-110 mln vs First Call consensus of $126.2 mln

16:18 MCRS sees Q3 $0.63-0.67 vs $0.65 First Call consensus; sees revs $228-232 mln vs $229.83 mln First Call consensus

16:18 ACLS prelim ($0.08), ex items, vs ($0.09) First Call consensus; revs $89.6 mln vs $85.80 mln First Call consensus

16:17 AVID Avid Tech misses by $0.09, beats on revs (25.83 -0.35)

Reports Q4 (Dec) earnings of $0.42 per share, excluding non-recurring items, $0.09 worse than the First Call consensus of $0.51; revenues rose 8.2% year/year to $258.5 mln vs the $247.8 mln consensus.
16:17 ALTR sees Q1 revs up 0-2% q/q, which equates to $323-330 mln vs $319 mln consensus

16:17 MCRS prelim $0.68 vs $0.61 First Call consensus; revs $244 mln vs $220.66 mln First Call consensus

16:17 MCRS prelim $0.68 vs $0.61 First Call consensus; revs $244 mln vs $220.66 mln First Call consensus

16:16 NWK prelim $0.09 vs $0.08 First Call consensus; revs $29.00 mln vs $28.32 mln First Call consensus

16:16 TRID prelim $0.30 vs $0.23 First Call consensus; revs $75.0 mln vs $70.7 mln First Call consensus

16:16 DLLR Dollar Financial beats by $0.03, beats on revs; guides FY08 EPS in-line, revs in-line (25.18 +1.54)

Reports Q2 (Dec) earnings of $0.55 per share, $0.03 better than the First Call consensus of $0.52. Co issues in-line guidance for FY08, sees EPS of $2.15-2.30 vs. $2.23 consensus; sees FY08 revs of $510-530 mln vs. $528.18 mln consensus.
16:16 MW Men’s Wearhouse announces that Doug Ewert has been promoted to President and Chief Operating Officer (formerly EVP and COO) (24.95 +1.77)

16:16 ZHNE Zhone Technologies beats by $0.01, beats on revs

Reports Q4 (Dec) net of breakeven, $0.01 better than the two analyst est of ($0.01); revenues rose 12.0% year/year to $46.6 mln vs the $44.5 mln consensus.
16:16 VRSN prelim $0.30 vs $0.29 First Call consensus; revs $386 mln vs $380.83 mln First Call consensus

16:16 ALTR prelim $0.20 may not compare to $0.17 First Call consensus; revs $323.2 mln vs $309.93 mln First Call consensus

16:16 VRSN prelim $0.30 vs $0.29 First Call consensus; revs $386.00 mln vs $380.83 mln First Call consensus

16:15 RFMD RF Micro Device misses by $0.01, reports revs in-line; guides Q4 EPS below consensus, revs below consensus (3.23 +0.10)

Reports Q3 (Dec) earnings of $0.06 per share, $0.01 worse than the First Call consensus of $0.07; revenues fell 4.6% year/year to $268.2 mln vs the $268.7 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.01-0.02 vs. $0.05 consensus; sees Q4 revs of $215-230 vs. $262.91 mln consensus. In the March 2008 quarter, RFMD anticipates C.P.G will be down more than seasonally as a result of excess GSM/GPRS front end inventory in China and the timing of customer platform ramps, offset by relative strength in EDGE and WCDMA. C.P.G expects to return to sequential quarterly growth in the June 2008 quarter, as excess GSM/GPRS front end inventory is consumed in the March 2008 quarter and as a major customer platform ramp is expected to commence in March 2008.
16:15 MNT prelim $0.32 vs $0.31 First Call consensus; revs $92.9 mln vs $93.44 mln First Call consensus

16:15 AFFX Affymetrix beats by $0.04, misses on revs; guides FY08 revs above consensus (20.05 -0.72)

Reports Q4 (Dec) earnings of $0.20 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.16; revenues rose 3.3% year/year to $107.6 mln vs the $108.9 mln consensus. Co issues upside guidance for FY08, sees FY08 revs of $415-435 mln, excluding a non-recurring $90 mln payment, vs. $402.02 mln consensus.
16:15 CSC Computer Sciences announces Michael Kean, the co’s CFO has resigned (42.32 +1.69)

The co announces that Michael Keane, the co’s vice president and CFO, has resigned as CFO, but will remain a vice president during a transition period. CSC’s board of directors has appointed Donald G. DeBuck, the company’s vice president and controller, to act as interim chief financial officer while CSC conducts a search to replace Keane.
16:15 CBAK China BAK Battery misses by $0.02, beats on revs; guides FY08 revs in-line (4.40 +0.12)

Reports Q1 (Dec) loss of $0.02 per share, $0.02 worse than the single estimate of ($0.00); revenues rose 20.5% year/year to $52.8 mln vs the $39.9 mln single est. Co issues in-line guidance for FY08, sees FY08 revs of $210 vs. $202.01 mln single est.
16:15 ISRG Intuitive Surgical beats by $0.20, beats on revs (254.00 +19.00)

Reports Q4 (Dec) earnings of $1.24 per share, $0.20 better than the First Call consensus of $1.04; revenues rose 68.2% year/year to $189.4 mln vs the $175.9 mln consensus. “We are pleased with our fourth quarter revenue, income, and cash flow growth. Robotic surgery momentum is strong as we continue to partner with our customers to deliver increasing patient value by improving surgical outcomes and reduced surgical trauma.”
16:14 DDUP Data Domain beats by $0.09, beats on revs (22.54 -0.14)

Reports Q4 (Dec) earnings of $0.08 per share, excluding stock-based compensation and related taxes, $0.09 better than the First Call consensus of ($0.01); revenues rose 151% year/year to $44.9 mln vs the $39.17 mln consensus.
16:14 MCK McKesson misses by $0.01, beats on revs; guides FY08 EPS below consensus (62.81 -0.45)

Reports Q3 (Dec) earnings of $0.79 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.80; revenues rose 14.6% year/year to $26.49 bln vs the $25.29 bln consensus. For FY08, co sees EPS of $3.22-3.32 vs. $3.33 consensus.
16:14 A Agilent files litigation to protect high-performance liquid chromatography intellectual property (33.97 -0.32)

Co announces it has filed litigation against Advanced Materials Technology to protect confidential and proprietary information relating to its high-performance liquid chromatography technology. The complaint contends that three former Agilent employees breached the confidentiality of their employment agreements, misappropriated Agilent trade secrets and breached their fiduciary duties. The litigation filing alleges that Agilent trade secrets and confidential information were used by A.M.T. in developing its Halo HPLC columns.
16:14 GYI Getty Images beats by $0.02, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY08 EPS below consensus, revs above consensus (24.99 -0.01)

Reports Q4 (Dec) earnings of $0.49 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.47; revenues rose 7.1% year/year to $218.1 mln vs the $210.3 mln consensus. Co issues mixed guidance for Q1, sees EPS of approx $0.45 vs. $0.54 consensus; sees Q1 revs of approx $220 mln vs. $217.27 mln consensus. Co issues mixed guidance for FY08, sees EPS of $2.00-2.10 vs. $2.16 consensus; sees FY08 revs of approx $900 mln vs. $884.40 mln consensus.
16:13 ZZ Sealy beats by $0.04, beats on revs (9.32 -0.21)

Reports Q4 (Nov) earnings of $0.18 per share, $0.04 better than the First Call consensus of $0.14; revenues rose 11.7% year/year to $441.3 mln vs the $422.1 mln consensus.
16:13 ACS prelim $0.90 vs $0.83 First Call consensus; revs $1.51 bln vs $1.52 bln First Call consensus

16:12 ISSI prelim $0.08, incl charge, may not be comparable to $0.04 First Call consensus; revs $63.3 mln vs $64.53 mln First Call consensus

16:12 INFN prelim GAAP EPS ($0.04), may not be comparable to $0.02 First Call consensus; revs $76.1 mln vs $85.40 mln First Call consensus

16:11 CYTK Cytokinetics reports Q4 net loss per share of ($0.27), down from a loss of ($0.41) a yr ago; revs rose to $3.1 mln (3.33 -0.11)

16:11 ASYT Asyst misses by $0.01, reports revs in-line; guides MarQ below consensus (2.97 +0.07)

Reports Q3 (Dec) earnings of $0.02 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.03; revenues fell 15.6% year/year to $106.5 mln vs the $105.5 mln consensus. Co issues downside guidance for Q4 (Mar), sees EPS of $(0.13)-(0.09), excluding non-recurring items, vs. $0.03 consensus; sees Q4 revs of $85-95 mln vs. $109.9 mln consensus.
16:11 MNST prelim $0.41 ex items vs $0.38 First Call consensus; revs $354 mln vs $352.68 mln First Call consensus

16:11 CA CA Inc beats by $0.11, beats on revs; guides FY08 EPS above consensus, revs above consensus (22.17 -0.13)

Reports Q3 (Dec) earnings of $0.36 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.25; revenues rose 9.8% year/year to $1.1 bln vs the $1.04 bln consensus. Co issues upside guidance for FY08, sees EPS of $1.22-1.26, excluding non-recurring items, compared to previous guidance of $1.06-1.10, vs. $1.09 consensus; sees FY08 revs of $4.25-4.28 bln, compared to previous guidance of $4.15-4.2 bln, vs. $4.19 bln consensus.
16:11 GOOG Google misses by $0.02, misses on revs (564.30 +16.03)

Reports Q4 (Dec) earnings of $4.43 per share, $0.02 worse than the First Call consensus of $4.45; revenues rose 52.1% year/year to $3.4 bln vs the $3.45 bln consensus. Google-owned site revenue was up 65% year/year compared to 68% last quarter; International revenue remained 48%; Paid Clicks were up 30% year/year compared to 45% last quarter… Co does not provide guidance.
16:10 DNEX sees Q3 $0.66-0.70 vs $0.68 First Call consensus; sees revs $92-96 mln vs $90.52 mln First Call consensus

16:10 COF Capital One announces $2 billion share buyback; $0.027 dividend increase to $0.375 (54.62 +3.02)

16:10 AVNX sees Q3 revs $46-50 mln vs $51.80 mln First Call consensus

16:10 DLB sees FY08 $1.34-1.44 includes charges may not be comp vs $1.37 First Call consensus; sees revs $575-615 mln vs $588.94 mln First Call consensus

16:10 PKTR prelim $0.01 vs $0.00 First Call consensus; revs $40.9 mln vs $38.01 mln First Call consensus

16:10 DNEX sees FY08 $2.62-2.69 vs $2.61 First Call consensus; sees revs $363-370 mln vs $358.17 mln First Call consensus

16:10 AVNX prelim $0.01 vs $0.01 First Call consensus; revs $52.00 mln vs $52.12 mln First Call consensus

16:10 COLM sees Q1 $0.51 vs $0.61 First Call consensus; sees revs of $283.8 mln vs $301.85 mln First Call consensus

16:09 CA prelim $0.31, may not be comparable vs $0.25 First Call consensus; revs $1.1 bln vs $1.04 bln First Call consensus

16:09 DNEX prelim $0.77 vs $0.72 First Call consensus; revs $98 mln vs $91.39 mln First Call consensus

16:09 DLB prelim $0.42 includes charges may not be comparable vs $0.32 First Call consensus; revs $150.2 mln vs $134.36 mln First Call consensus

16:09 MCK sees FY08 $3.22-3.32 vs $3.33 First Call consensus

16:09 BEZ prelim $0.51 vs $0.49 First Call consensus; revs $457.00 mln vs $468.01 mln First Call consensus

16:08 STAR prelim $0.06 vs $0.03 First Call consensus; revs $50.6 mln vs $43.11 mln First Call consensus

16:08 COLM prelim $1.12 vs $1.00 First Call consensus; revs $376.7 mln vs $372.17 mln First Call consensus

16:08 SMTL sees Q2 $0.06-0.08 vs $0.06 First Call consensus; sees revs $59-61 mln vs $57.50 mln First Call consensus

16:08 DRIV sees FY08 $1.88 vs $2.19 First Call consensus; sees revs $395 mln vs $405.89 mln First Call consensus

16:07 ERTS sees Q4 ($0.03)-$0.02 vs $0.16 First Call consensus; sees revs $775-850 mln vs $837.31 mln First Call consensus

16:07 GYI sees FY08 $2.00-2.10 vs $2.16 First Call consensus; sees revs $900 mln vs $884.40 mln First Call consensus

16:07 FMD prelim ($1.26) vs ($1.31) First Call consensus

16:06 DRIV sees Q1 $0.48 vs $0.58 First Call consensus; sees revs $98.5 mln vs $102.74 mln First Call consensus

16:06 DLLR sees FY08 $2.15-2.30 vs $2.23 First Call consensus; sees revs $510-530 mln vs $528.18 mln First Call consensus

16:06 BCR prelim $1.01 vs $1.00 First Call consensus; revs $583.3 mln vs $571.16 mln First Call consensus

16:06 GYI sees Q1 $0.45 vs $0.54 First Call consensus; sees revs $220 mln vs $217.27 mln First Call consensus

16:06 SMTL prelim ($0.02) vs $0.01 First Call consensus; revs $48.6 mln vs $50.00 mln First Call consensus

16:06 COHU prelim $0.09 vs $0.08 First Call consensus; revs $57.1 mln vs $60.00 mln First Call consensus

16:06 ERTS prelim $0.90 vs $0.90 First Call consensus; revs $1.5 bln, doesn’t compare to the $1.74 bln First Call consensus

16:06 ISRG prelim $1.24 vs $1.04 First Call consensus; revs $189.4 mln vs $175.90 mln First Call consensus

16:05 CASH First Midwest Financial appoints David Leedom CFO (31.14 +0.20)

16:05 MCK prelim $0.79 vs $0.80 First Call consensus; revs $26.49 bln vs $25.29 bln First Call consensus

16:05 DRIV prelim $0.53 vs $0.53 First Call consensus; revs $96.9 mln vs $95.84 mln First Call consensus

16:05 DLLR sees FY08 ${EPS} vs $2.23 First Call consensus; sees revs ${REV} vs $528.18 mln First Call consensus

16:05 GYI prelim $0.48 vs $0.47 First Call consensus; revs $218 mln vs $210.25 mln First Call consensus

16:05 TSRA Tessera Tech to acquire FotoNation for $29 mln (38.93 +0.63)

Co announced it has entered into a definitive agreement to acquire FotoNation, a provider of embedded imaging solutions for digital still camera and mobile phone applications. Under the terms of the agreement, Tessera will pay $29 mln in net cash with up to $10 mln of additional consideration, contingent upon certain milestones over one year. This transaction is expected to close in February 2008.
16:05 MIL prelim $0.98 vs $0.98 First Call consensus; revs $405.2 mln vs $410.27 mln First Call consensus

16:05 LAVA sees Q4 $0.15-0.17 vs $0.15 First Call consensus; sees revs $56-58 mln vs $55.72 mln First Call consensus

16:05 SAF prelim $1.51 vs $1.44 First Call consensus

16:05 TSRA prelim $0.27 vs $0.26 First Call consensus; revs $53 mln vs $52.67 mln First Call consensus

16:05 DLLR prelim $0.55 vs $0.52 First Call consensus; revs $125.7 mln vs $120.31 mln First Call consensus

16:04 ONNN prelim $0.23 vs $0.21 First Call consensus; revs $407.9 mln vs $407.13 mln First Call consensus

16:04 LCBM LifeCore Biomed renews manufacturing agreement with Alcon (16.75 -0.03)

Co announced that it has renewed its manufacturing agreement with Alcon Pharmaceuticals (ACL). Lifecore supplies hyaluronan to Alcon for use in Viscoat ophthalmic viscoelastic solution, which doctors use in eye surgeries such as cataract extraction and intraocular lens implantation. The new agreement extends through December, 2013 and retains minimum purchase commitments and other features of the previous agreement.
16:04 LAVA prelim $0.16 vs $0.14 First Call consensus; revs $55.7 mln vs $54.12 mln First Call consensus

16:03 ACTU prelim $0.11 vs $0.10 First Call consensus; revs $39.2 mln vs $38.38 mln First Call consensus

16:03 ACTU prelim $0.11, ex items vs $0.10 First Call consensus; revs $39.31 mln vs $38.38 mln First Call consensus

16:03 CERN sees Y08 EPS to grow more than 20%

16:03 MCRL sees Q1 GAAP EPS $0.10 vs $0.11 First Call consensus; sees revs down 1-4% sequentially (roughly $62.0-64.0 mln) vs $64.48 mln consensus

16:03 ZZ prelim $0.18 vs $0.14 First Call consensus; revs $441.3 mln vs $422.07 mln First Call consensus

16:03 GOOG Google falls to $532 in after hours trade (564.30 +16.03) -Update-

16:03 RFMD sees Q4 $0.01-0.02 vs $0.05 First Call consensus; sees revs $215-230 mln vs $262.91 mln First Call consensus

16:02 EXAR sees Q4 revs $28.5-31.5 mln vs $32.77 mln First Call consensus

16:02 CLS sees Q1 $0.06-0.11 vs $0.08 First Call consensus; sees revs $1.7-1.9 bln vs $1.88 bln First Call consensus

16:02 PAR 3Par reports Q3 EPS of ($0.02) vs ($0.06) First Call consensus; revs rose 50% YoY to $30.8 mln vs $27.62 mln First Call consensus (7.83 -0.75)

16:02 CERN sees Q1 $0.43-0.44 vs $0.45 First Call consensus; sees revs $390-400 mln vs $405.25 mln First Call consensus

16:02 GSIT sees revs $13.6-14.4 mln vs $12.61 mln First Call consensus

16:02 RFMD RF Micro Device announces $150 mln share repurchase program (3.18 +0.10)

16:01 ASYT prelim $0.02 vs $0.03 First Call consensus; revs $106.5 mln vs $105.48 mln First Call consensus

16:01 ASYT sees Q4 ($0.09-0.13) vs $0.03 First Call consensus; sees revs $85-95 mln vs $109.87 mln First Call consensus

16:01 RFMD prelim $0.06 vs $0.07 First Call consensus; revs $268.2 mln vs $268.65 mln First Call consensus

16:01 GOOG prelim $4.43 vs $4.45 First Call consensus; revs $3.39 bln vs $3.45 bln First Call consensus

16:01 CERN prelim $0.52 vs $0.51 First Call consensus; revs $394.5 mln vs $411.70 mln First Call consensus

16:01 CLS prelim $0.16 vs $0.13 First Call consensus; revs $2.21 bln vs $2.09 bln First Call consensus

16:01 EXAR prelim ($0.04) vs ($0.05) First Call consensus; revs $25.2 mln vs $27.30 mln First Call consensus

16:01 SRX SRA Intl awarded $17.9 mln contract from US Department of Homeland Security (27.32 +0.50)

16:01 MCRL prelim $0.12 vs $0.11 First Call consensus; revs $64.6 mln vs $63.99 mln First Call consensus

16:01 GSIT prelim $0.06 vs $0.05 First Call consensus; revs $14.00 mln vs $12.89 mln First Call consensus

16:01 AFFX sees FY08 revs $505-525 mln vs $402.02 mln First Call consensus

16:00 ZHNE prelim $0.00 vs ($0.01) First Call consensus; revs $46.6 mln vs $44.48 mln First Call consensus

16:00 ASYT prelim $0.02 vs $0.03 First Call consensus; revs $106.5 mln vs $105.48 mln First Call consensus

16:00 AFFX prelim $0.20 vs $0.16 First Call consensus; revs $107.6 mln vs $108.93 mln First Call consensus

16:00 UNM UNUMProvident announces $350 mln accelerated share repurchase (22.58 +0.40)

16:00 AGO Assured Guaranty financial strength affirmed by S&P - Bloomberg (23.65 +0.60)

16:00 ABK AMBAC Fincl issuer credit affirmed by S&P - Bloomberg (11.61 +0.74) -Update-

How To Make Your Conscious Mind Stop Sabotaging You

Trouble with ETF’s Part Deux

Leading Indicators

Research Groups Boom in Washington

Ten Reasons Why Brides Wear Veils

School of Language

Easy, You call that Easy?

A View of How American “Capitalism” is Changing Structurally… And Where it is Going

Financial Ties Are Cited as Issue in Spine Study

Maggie on Top: Tom Brady…an MVP?

Pit Crew will move on from UCLA incident

European music trading body welcomes new file-sharing rule

Osama and Al Qaeda

Done got Old

S&P Lowers or May Cut $534 Billion of Subprime Debt

Attack in Black

T.O. Learns That Tears Like Tebow Can be Costly.

25 most powerful people in business

The Pleasure is Mine

Australia, China, Kuwait and Philippines: NC furniture export destinations

5 Methods to Conquer Loneliness When Traveling on Business

Prince and The Revolution: Better Late than Never

William Poole: Fed Guy Sez, I Don’t Like Mondays

Wesley Snipes’s Anti-Tax Manifesto

Barenaked For Children

Fed Fears Deflationary Debt Collapse

Do you really want to hurt me?

This is the reporter that asked Tom Brady to marry her

Hula Chair

I normally don’t watch Cramer, but I was stuck in my hotel room late last nite and after a workout I watched a bit of the madman. He was on a major upswing last nite, looking like a peacock and telling people the bottom is in. Pounding the table to buy with all in notions. I have no idea how the guy sleeps with those types of comments, but that kind of told me along with the important big picture charts that until we can get the spoos over 1420 on closing prices. I wouldn’t be too excited about catching a knife for more than a rental trade. I’m sure Cramer was buying in November of 2000 also as the market had just begun to fall back then. Someone should ask him about that time? Anyways, the jobs numbers were rank this am and the futures are back to the lows of last night near 1333. We have sold off over 54 pts from the post Fed highs and as I mentioned yesterday, the FED time usually marks highs in the market over the past 9 months or so, so why go changing the game plan. Have a great Thursday and be safe out there.

cramerica-open.avi

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Updated: 31-Jan-08 08:36 ET
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Today’s In Play
08:36 CFC Countrywide: SRM Fund Management discloses 5.19% stake in SC 13D (6.47 )

08:35 IMN Imation upgraded to Buy from Hold at Needham- tgt $29 (24.46 )

08:34 Equity futures sink to pre-market lows, bonds rally, following a worse than expected initial claims number

Dow futures now -118 pts, SPX futures -15 pts… Ten-year yields are at 3.578%, down from 3.733% at yesterday’s close.
08:34 DLB Dolbys Labs: Confluence of positive CE trends; guidance will be critical - Kaufman (41.43 -1.02)

Kaufman notes DLB is scheduled to report today after the close. Firm expects co to report revs of $135.1 mln and non-GAAP EPS of $0.32. The Street is expecting revs of $134.8 mln and non-GAAP EPS of $0.32. On the call they expect to get an update on the current rev mix. Over the past several quarters they have seen a shift in the rev mix. Now with the strong PC cycle, inclusion in a couple of premium versions of Vista, and the continued adoption of digital televisions into homes - Dolby has a much more diversified rev mix. Firm believes that there will continue to be adoption of digital televisions. According the Association of Public Television Stations, there are 21 mln analog over-the-air households. These will need to be done next year as the cut off to digital will occur in Feb 2009.
08:34 SMI Semi Manufacturing announces it would invest $1.58 bln to build an IC R&D center and two IC chip production lines - ChinaTechNews.com (4.11 )

08:34 RRGB Red Robin Gourmet Announces Intent to Acquire Red Robin Franchised Restaurants in Wisconsin & Minnesota for $20.9 mln; expected to be accretive to earnings

…
08:34 RAD Rite Aid reports January same store sales +2.0% (2.72 )

08:34 TSYS TeleComm Sys reports $12 million in first half 2008 for text messaging software orders

…
08:33 BCO prelim $1.16 vs $0.74 First Call consensus; revs $882.8 mln vs $819.51 mln First Call consensus

08:33 TIVO TiVo and CBS form research partnership; CBS enlists TiVo research tools

…
08:32 S&P futures vs fair value: -21.0. Nasdaq futures vs fair value: -21.0.

Stock futures slide on a pair of economic releases, as one shows higher than expected unemployment claims last week. Just reported, the Dept. of commerce said Dec. personal income rose 0.5% and spending rose 0.2%. Economists expected income to rise 0.4% and spending to rise 0.1%. PCE Core rose 0.2% month over month, in-line with expectations. Separately, the Dept. of Labor said there were 375K initial jobless claims for the week ended Jan. 26 (consensus 319K). In earnings news, MasterCard (MA) topped expectations by $0.17 per share.
08:32 PSDV pSivida announces the filing of its Quarterly Cash Flow Statement for the quarter ended Dec 31, 2007 with the ASX; cash balance at Dec 31, 2007 was US$9.8 mln

…
08:32 BTU sees FY08 $1.00-1.85 may not compare to $2.86 First Call consensus

08:32 TSO says weak crack spreads, higher operating expenses and poor marketing margins negatively impacted earnings at the co’s West Coast refineries

08:32 BTU sees Q1 $0.05-0.25 vs $0.56 First Call consensus

08:31 TSO prelim ($0.29) vs $0.02 First Call consensus; revs $6.53 bln vs $5.88 bln First Call consensus

08:31 WL Wilmington Trust to acquire AST Capital Trust Company; transaction will add ~$27 mln of revenue and be non-dilutive to earnings in 2008 (34.13 )

Co announced that it has signed a definitive agreement to acquire AST Capital Trust Company, a provider of directed trustee, trust administration, and back-office services offered through financial advisors to retirement plans, high-net-worth individuals and families, and institutional investors. Co expects to complete this transaction by this summer and expects this transaction will add ~$27 mln of revenue and be non-dilutive to earnings in 2008. Terms of the transaction were not disclosed.
08:31 BTU prelim $0.71 may not compare to $0.79 First Call consensus; revs $1.21 bln vs $1.25 bln First Call consensus

08:31 MWIV MWI Veterinary Supply misses by $0.03, beats on revs; reaffirms FY08 revs guidance (41.43 )

Reports Q1 (Dec) earnings of $0.38 per share, $0.03 worse than the First Call consensus of $0.41; revenues rose 26.3% year/year to $203.4 mln vs the $185.1 mln consensus. Co reaffirms guidance for FY08, sees FY08 revs of $825 mln vs. $821.85 mln consensus.
08:30 ECONX December Personal Income +0.5% vs +0.4% consensus

08:30 F Ford plans to pump up incentives - Detroit News (6.75 )

Detroit News reports the co will sharply increase incentive spending this year to counter aggressive pricing by competitors and ensure that demand for older vehicles like the Ford F-150 and Mercury Milan remains strong as the automaker prepares to launch newer versions later this year. Senior Ford executives told key dealers about the plan during a meeting in Dearborn earlier this month, according to people who attended the session. Many dealers have chafed at Ford’s push to reduce profit-sapping incentive spending, even at the expense of market share. The exact cost of the new incentives is not clear, but dealers said it would amount to several hundred million dollars.
08:30 ECONX Initial Claims 375K vs 319K consensus, prior revised to 306K from 301K

08:30 ECONX Dec. PCE Deflator YoY 3.5 % vs. 3.5% consensus

08:30 ECONX Dec. PCE Core MoM 0.2 vs. 0.2% consensus

08:30 ECONX December Personal Spending +0.2% vs +0.1% consensus, prior revised to 1.0% from +1.1%

08:30 ECONX Dec. PCE Core YoY 2.2 vs. 2.2% consensus

08:29 SRI Stoneridge reports Q4 EPS of $0.28 vs $0.21 consensus; reports revs up 8.3% yr/yr to $185.5 mln vs $175.3 mln two analyst estimate (8.63 )

Co is not providing Y08 guidance due to the previously announced IPO transaction filing of its JV. The improvement in fourth-quarter results was primarily attributable to new program sales of electronics in Europe and North America and a more favorable sales mix in the Company’s North America electronics business. These improvements were accomplished in spite of the approximate 42% fourth- quarter decline in the medium- and heavy-duty truck market in North America.
08:28 Eskom says 4,400 megawatts out on coal quality, handling, rain - Bloomberg

Bloomberg reports Eskom Holdings, South Africa’s state-owned utility, said wet coal, low-quality coal and handling problems have cut its generation capacity by 4,400 megawatts. The co is currently generating about 28,000 megawatts of power, Andrew Etzinger, a spokesman for the co, said in an interview. While normal demand would be about 31,000 megawatts, industrial users have cut their use by a total of about 1,000 megawatts. The company is currently in so-called stage two, which means there is a shortfall of 1,500 to 3,000 megawatts, according to Eskom’s Web site.
08:28 BHI Baker Hughes downgraded to Outperform from Strong Buy at Raymond James (67.27 ) -Update-

08:28 BONDX Bond Watch: Finding Flight

The market is busy working itself higher again as globally stocks melted down & bonds were bid on the endless, scolling negative headline that is bad banking. MBIA waited until everyone was tucked away in bed before it released its horrible earnings late last night providing another downdraft for equities overnight & setting the stage for the latest flight to quality. The 2-10-yr yield spread steepened to 150.1, snagging itself on last week’s steepest level in over 4 years. Bond prices in the EuroZone were further supported by another weak German retail sales & softer confidence reports. In Japan, bonds were boosted as equities wilted following their US counterparts. Treasuries will get some base consumer data with personal income & spending due along with its component read on PCE . Manufacturing from Chicago also reports & employment costs, but mostly trade will focus on the bond insurer headlines & how equities react should the raters actually ever decide to step up to the plate. Payrolls hits tomorrow so action could dry up into midday as trade positions accordingly. The buck is now near unchanged to slightly offered on the euro & yen but better on most of the major currencies as the market looks to expected jobs improvement over ongoing rate cuts. The euro is working to keep its head above 1.48 after taking out 1.49 overnight. Gold is off with spot now 926.86 (-2.54), hit as the dollar makes a general recovery, crude also offered, now 91.33 (-1.00), on expected economic slowing & ahead of inventories. Data has employment cost index, personal income/spending, initial jobless claims (8:30) & Chicago PMI (9:45). The euro is at 1.4876 & the yen is at 106.1200 while the 10-yr is +13/32 yielding 3.617%.
08:27 DB Deutsche Bank fell in Europe due to rumors of a profit warning - Reuters (114.56 )

08:27 Deutsche Bank upgrades Retail stocks to Neutral from Cautious

Wal Mart (WMT), Kohl’s (KSS), Target (TGT), and Macy’s (M) are the firm’s Top Picks.
08:26 ALY Allis-Chalmers Energy guides Q4 revs above consensus; net income per share to $0.16, may not compare to $0.35 consensus (11.80 )

Co issues upside guidance for Q4, sees revs of $147 mln vs consensus of $145.42; sees Q4 net income per share of $0.16, may not be comparable to conensus of $0.35. ALY says Q4 results were primarily impacted by: 1) Weakness in demand for drill pipe in the Gulf of Mexico due to the hurricane season and the departure of rigs to the international market; 2) Severe flooding in Villahermosa, the largest operating yard in our Mexican tubular services operation; 3) Labor strikes in Argentina for 15 days, because of the October presidential elections, affecting our International Drilling segment. Additionally, the new Argentine government imposed a corporate tax on all employees; 4) Start up costs and low utilization for our coil tubing units.
08:26 COP ConocoPhillips picked for Abu Dhabi Sour Gas project, sources say - DJ (79.13 )

DJ reports the co has been chosen as a partner for the $10 bln project to develop the Shah natural gas field in Abu Dhabi, according to several people familiar with the negotiations. Abu Dhabi National Oil Co., or Adnoc, is expected to make the official announcement on mid-February along with the terms of the deal, these people said. Officials from Adnoc were in Houston this week to finalize the deal with ConocoPhillips, which competed against Occidental Petroleum (OXY) and Royal Dutch Shell (RDS.A). Occidental confirmed Tuesday that the co was out of the running.
08:25 AMZN Amazon.com: BWS Financial has concerns on co’s rev goals (74.21 ) -Update-

BWS Financial says their concern with the guidance is AMZN being able to achieve the rev goal the Company is setting for itself. Firm has adjusted their numbers, with much hesitation, and can only see AMZN achieving a little over $19 bln in sales. The main fear is the impact a slowing economy could have on AMZN in 2008.
08:24 Reminder: Personal Income & Spending, PCE, and Initial Claims data due out in about 6 min at 8:30AM ET

08:23 BPHX Blue Phoenix beats by $0.01, reports revs in-line (18.02 )

Reports Q4 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.20; revenues rose 51.6% year/year to $24.4 mln vs the $24.3 mln consensus.
08:23 ALY guides Q4 net income per share to $0.16/share, may not be comparable to consensus of $0.35

08:22 UTEK Ultratech misses by $0.03, misses on revs (10.61 )

Reports Q4 (Dec) earnings of $0.09 per share, $0.03 worse than the First Call consensus of $0.12; revenues rose 20.2% year/year to $29.7 mln vs the $33.9 mln consensus. “In 2008 we expect to continue to make progress in improving our current business results through controlling our operating expenses, while driving for growth and investing in the key initiatives that we believe will result in sustained performance.”
08:21 BPHX prelim $0.21 vs $0.20 First Call consensus; revs $22.7 mln vs $24.32 mln First Call consensus

08:21 SNP China Petroleum (Sinopec): Dropping oil prices silver lining for company? - WSJ (107.71 )

WSJ reports the dark clouds gathered over the global economy could have a silver lining for China’s biggest oil refiner, China Petroleum & Chemical, also known as Sinopec… benchmark oil prices may ease further from the record high hit Jan. 3 of just over $100 a barrel — after already having dropped back to about $90. That would be bad news for most global oil cos… but, ironically, it could also mean that Sinopec finally breaks even on refining. The disconnect flows from the peculiar structure of China’s state-dominated oil sector… Sinopec, which focuses almost exclusively on refining, must buy most of the oil it processes from other cos at global prices. After refining that oil, it sells the gasoline and other fuels it produces to Chinese consumers at prices capped by the govt. Those price caps mean Sinopec can’t pass along high oil prices. So the co has been running its refining operations at a loss for years. For 2005 and 2006, Sinopec received govt subsidies of 9.4 bln yuan ($1.3 bln) and five bln yuan, respectively, to partially offset refining losses.
08:21 RL Polo Ralph Lauren downgraded to Underperform from Market Perform at Morgan Keegan- co believes ests are too high and they believe retail comps are under pressure (60.73 )

08:21 ARAY Accuray target cut to $10 at Oppenheimer following earnings (14.98 )

Oppenheimer cuts their ARAY tgt to $10 from $15 following last night’s earnings, which the firm considers the “weakest, most confusing and most concerning” quarterly results since its IPO one year ago. Both revenue ($52 mln vs $58.2 mln consensus) and EPS ($0.04 vs $0.09 consensus) missed consensus, and FY08 guidance was lowered materially (to $210-$230 mln from $250-$270 mln). ARAY now says the credit markets are hurting their customers’ ability to get financing, which has delayed some installations and also eliminated about 7-10 contracts that were in their backlog. The firm checked with ARAY’s competitors last night and no one seems to be having the same issue (VAR had great results just last week).
08:20 FSTR L.B. Foster Company reports Q4 (Dec) results, beats on revs (41.93 )

Reports Q4 (Dec) earnings of $0.81 per share, excluding gain from sale in co’s investment in the DM&E Railroad, may not be comparable to the First Call consensus of $0.40; revenues rose 3.2% year/year to $114 mln vs the $111 mln consensus.
08:19 MLNX Mellanox Tech: Favorable gross margin continues as MLNX maintains its infiniband leadership - Jefferies (14.51 )

Jefferies recommends investors buy shares as Mellanox is well positioned for growth due to: 1) growing demand for faster standardized interconnects in HPCs and EDCs, 2) its near monopolistic position as the leading InfiniBand supplier, 3) its diversifying and expanding customer base, and 4) its multi-standard product road map.
08:19 SCANX Early pre-market gappers

Gapping up: ADBL +22.2%, CNQR +14.3%, SMCI +8.4%, ADS +7.7%, MMA +5.9%, TSCO +5.5%, ABTL +5.2%, ININ +4.9%, EGHT +4.8%, ISSC +4.3%, HRS +3.6%, TSM +3.5%, MEH +3.0%, AMAG +3.0%, KEX +2.9%, ESLR +2.7%, MRO +2.7%, TEVA +2.4%, FTE +1.8%, EBHI +1.3%… Gapping down: ARAY -25.6%, CDNS -21.7%, BLOG -18.4%, OVEN -14.6%, AMZN -12.0%, MRX -11.7%, RNOW -8.4%, CAM -8.3%, MBI -7.6%, UBS -7.5%, DCP -6.6%, BCS -6.6%, ING -5.4%, OIIM -4.6%, NEWP -4.5%, RL -4.5%, PHM -4.2%, VOD -4.2%, NVLS -3.8%, DB -3.8%, HBI -3.5%, AFL -3.2%, HSTX -3.0%, ABK -2.3%, MIPS -2.1%, SBUX -1.5%, BSC -1.4%, MER -1.2%, ATK -1.1%, LLY -1.1%, ICE -1.0%.
08:19 ALY guides Q4 revs above consensus

08:19 CVC Cablevision upgraded to Hold at Kaufman- tgt $23 (23.23 )

Kaufman upgrades CVC to Hold from Sell with a $23 tgt saying shares of CVC have bucked their recent downward trend and appear to be stabilizing in the $22 to $23 range. This may be in part a response to softer-than-expected wire line results from Horizon and recognition that the company is trading below its inherent asset value. The firm does not find CVC a compelling long as they do not think the competitive dynamics (Horizon) favor Cablevision. However, they think the stock has reached a nadir and is no longer a legitimate short call.
08:18 HAE Haemonetics beats by $0.04, beats on revs; reaffirms FY08 EPS guidance (55.25 )

Reports Q3 (Dec) earnings of $0.57 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.53; revenues rose 18.6% year/year to $134.6 mln vs the $124.6 mln consensus. Co reaffirms EPS guidance for FY08, sees EPS of $2.07-2.12, excluding non-recurring items, vs. $2.09 consensus; co sees revs up 11-13%, compared to previous guidance of 10-12%.
08:18 SLAB Silicon Labs: Strong through seasonally weaker period with achievable bar set for 2008 - Jefferies (31.85 )

Jefferies believes investors should buy shares of SLAB as it is a rare opportunity to invest in a semiconductor co with a unique combination of 1) strong analog equivalent gross margins of 60-62%, 2) sustainable product cycle-like revenue growth, and 3) diversifying customer base reducing revenue volatility.
08:17 Venezuela will pay Statoil and Total $1.1 billion in compensation - WSJ

WSJ reports Venezuela will pay two European oil cos $1.1 bln in compensation for last year’s nationalization of a multibillion-dollar oil project, less than half the estimated mkt value of their stakes, according to a copy of a compensation agreement reviewed by DJ. Venezuela’s state-run oil giant, Petroleos de Venezuela, agreed to pay TOT and STO for their reduced stakes in the Sincor heavy-oil venture with acombination of crude oil and cash, according to the documents. The agreement offers an inkling of what U.S. oil majors such as XOM and COP might expect as they carry on compensation talks with PDVSA. Unlike the two European concerns, which decided to stay on as minority partners in the projects, the U.S. cos rejected the new terms, left their projects and are seeking compensation. Exxon began arbitration proceedings in September.
08:16 UTEK prelim $0.09 vs $0.12 First Call consensus; revs $29.7 mln vs $33.90 mln First Call consensus

08:16 HAE sees FY08 $2.07-2.12 vs $2.09 First Call consensus; sees revs up 11-13%

08:16 MTSN Mattson downgraded to Average at Caris- tgt $6 (6.01 )

Caris downgrades MTSN to Average from Above Average ad lowers their tgt to $6 from $8.50 saying based on organic growth in the etch business, but they think there are too many holes developing in the story for etch to play a significant role in 2008. Minus the growth from etch, MTSN is likely to face a down year in line with the negative growth for the equipment sector. The firm thinks the longer term prospects for etch are still positive.
08:15 HAE prelim $0.57 vs $0.53 First Call consensus; revs $135 mln vs $124.55 mln First Call consensus

08:15 ARAY Accuray: Despite 2Q Shortfall and Guidance Revision, Opportunity Remains; tgt cut to $17 - Jefferies (14.98 ) -Update-

Jefferies believes ARAY’s fundamentals remain intact and they continue to be encouraged by an expanding backlog, highly favorable reimbursement landscape, top line growth and increased interest in the clinical community for the CyberKnife system. Firm cuts their tgt to $17 from $29.
08:14 WIRES On The Wires

Thermo Fisher Scientific (TMO) announces that its RNA-interference technology has enabled a groundbreaking study at Harvard Medical School which identified human proteins required for growth of the human immunodeficiency virus… Entrust’s (ENTU) network shared folder encryption solution is chosen by China’s PXInfosec… Hughes Network Systems (HUGH) announces that it has signed EMBARQ (EQ) to be a reseller of HughesNet broadband satellite Internet access.
08:13 GHL Greenhill beats by $0.06, reports revs in-line, raises dividend by 18% (66.35 )

Reports Q4 (Dec) earnings of $1.02 per share, $0.06 better than the First Call consensus of $0.96; revenues rose 33.4% year/year to $97.0 mln vs the $96.8 mln consensus. Co says “A major source of our success in growing advisory revenue faster than our major competitors [is that we focus on] corporations rather than private equity or hedge funds. We believe we…benefit from the recent meaningful shift in M&A activity toward strategic rather than private equity deals.” Co also raises qtrly dividend by 18% to $0.45 for a 2.7% annual yield.
08:09 NCX NOVA Chemicals reports Q4 (Dec) results, misses on revs (27.02 )

Reports Q4 (Dec) earnings of $1.51 per share, may not be comparable to the First Call consensus of $1.01; revenues rose 2.3% year/year to $1.8 bln vs the $1.83 bln consensus.
08:09 ALL Allstate downgraded to Hold from Buy at Sandler O’Neill (48.49 )

08:08 ITG Investment Tech beats by $0.06, beats on revs (45.18 )

Reports Q4 (Dec) earnings of $0.68 per share, $0.06 better than the First Call consensus of $0.62; revenues rose 28.4% year/year to $196.6 mln vs the $182.7 mln consensus.
08:08 NEWP Newport reports record orders, but issues in laser division and pricing pressures suppress margins - Brean Murray (11.00 )

Brean Murray notes NEWP reported record orders in the Dec quarter and expects its March book-to-bill to exceed 1. The sales outlook for 2008 is within expectations, but margins again appear to be below expectations, resulting in a 1Q08 EPS forecast range well below expectations. Warranty and under-absorption of factory overhead have recently limited the results of the Laser division. Firm also believes the firm has experienced increased pricing pressures over the last year, which have also depressed margins. They believe NEWP is taking a number of steps to effectively cope with these issues. While we are cautious on their 1H08 outlook, firm believes NEWP’s low share price and new products make it attractive to long-term investors.
08:08 CSR China Security and Surveillance issues press release related to CEO’s loan (15.85 ) -Update-

Co announced that Whitehorse Technology Limited, a wholly owned company by Mr. Tu Guo Shen, Chief Executive Officer issued and sold U.S. $50,000,000 in aggregate principal amount of Exchangeable Senior Notes due 2012 to a third party investor not affiliated with CSR. In connection with this transaction, Whitehorse and Mr. Tu pledged 8,750,000 shares of CSR’s common stock that are directly and indirectly beneficially owned by Whitehorse and Mr. Tu, respectively, to secure the Notes. Whitehorse may only use the Note proceeds to (i) buy CSR common stock from CSR in a private transaction, (ii) make a loan to CSR, the proceeds of which may be used by CSR to fund certain acquisitions, or (iii) buy stock of CSR in the open market.
08:07 KOG Kodiak Oil & Gas announces definitive Vermillion Basin exploration agreement with DVN (1.75 )

Co announces that it has entered into a definitive Exploration Agreement with Oklahoma City-based Devon Energy Production Company (DVN). As part of the agreement, Kodiak and Devon have set forth terms and conditions that create an Area of Mutual Interest for the exploration, leasing, and development of certain of Kodiak’s Vermillion Basin, Wyoming oil and gas properties.
08:07 SAFM Sanderson Farms initiated with a Market Perform at BMO Capital (33.61 )

08:07 SWM prelim $0.16, ex items, vs $0.20 First Call consensus; revs $188.5 mln vs $182.50 mln First Call consensus

08:07 HHS Harte-Hanks beats by $0.02, reports revs in-line (16.02 )

Reports Q4 (Dec) earnings of $0.39 per share, $0.02 better than the First Call consensus of $0.37; revenues fell 3.3% year/year to $303 mln vs the $304.4 mln consensus.
08:07 LDR Landauer, Inc. beats by $0.02, beats on revs (47.35 )

Reports Q1 (Dec) earnings of $0.57 per share, $0.02 better than the single estimate of $0.55; revenues rose 8.1% year/year to $21.8 mln vs the $21.1 mln single estimate. Landauer’s business plan for fiscal 2008 currently anticipates aggregate revenue growth for the year to be in the range of 4 - 5 percent. The company anticipates a net income increase in the range of 6 - 8 percent excluding the impact of the 2007 asset impairment and accelerated depreciation charges.
08:06 SEIC SEI Investments reports EPS in-line, revs in-line (28.50 )

Reports Q4 (Dec) earnings of $0.35 per share, excluding non-recurring items, in-line with the First Call consensus of $0.35; revenues rose 12.0% year/year to $353.4 mln vs the $350 mln consensus.
08:06 GHL prelim $1.02 vs $0.96 First Call consensus; revs $97.0 mln vs $96.8 mln First Call consensus

08:06 SGP Schering-Plough: FDA grants priority review for SGP’s Peginterferon Alfa-2b for the Adjuvant Treatment of patients with Stage III Melanoma (19.36 )

The co announces that the FDA has accepted the Peg-IFN (peginterferon alfa-2b) supplemental Biologics License Application (sBLA) for review and has granted Priority Review status for the adjuvant treatment of patients with Stage III melanoma. Schering-Plough submitted its application to the agency in the fall of 2007.
08:06 MPW Medical Properties Trust misses by $0.01, beats on revs; guides FY08 FFO in-line (12.04 )

Reports Q4 (Dec) funds from operations of $0.30 per share, $0.01 worse than the First Call consensus of $0.31; revenues rose 76.1% year/year to $28 mln vs the $26.8 mln consensus. Co issues in-line guidance for FY08, sees FFO of approx $1.21 vs. $1.24 consensus.
08:05 EMKR Emcore enters into a multi-year agreement to supply solar concentrator photovoltaic systems for utility scale power projects in the Southwestern US (12.33 )

Co announces that it has signed a memorandum of understanding for the supply of between 200 MW and 700 MW of solar power systems that are scheduled for deployment in utility scale solar power projects under development in the southwestern region of the United States. EMKR will supply and install turnkey solar power systems utilizing EMKR’s concentrating photovoltaic systems developed at its Albuquerque, NM facility. This agreement is not expected to contribute revenues until 2009 and is dependant on the renewal of the federal investment tax credit extending into 2009 and beyond.
08:05 SEIC prelim $0.35 vs $0.35 First Call consensus; revs $353.4 mln vs $350.00 mln First Call consensus

08:04 ININ Int. Intelligence: Growing pains par for the course - Susquehanna (13.59 )

08:04 MA MasterCard beats by $0.17, beats on revs (189.00 )

Reports Q4 (Dec) earnings of $0.89 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $0.72; revenues rose 27.8% year/year to $1.07 bln vs the $0.98 bln consensus. Co reports Q4 gross dollar volume up 15.2% vs 12.8% prior, purchase volume up 16.1% vs 14.1% prior.
08:04 LDR prelim $0.57 vs $0.55 single analyst est; revs $21.8 mln vs $21.10 mln single analyst est

08:04 CXM Cardium Therapeutics announces $5.3 mln registered direct offering (2.38 )

08:04 ABK AMBAC Fincl: CNBC commentator says Wilbur Ross is “clearly having second thoughts” about diving into ABK (10.85 )

08:04 RSTI Rofin-Sinar Technologies beats by $0.07, beats on revs (36.13 )

Reports Q1 (Dec) earnings of $0.53 per share, $0.07 better than the First Call consensus of $0.46; revenues rose 20.5% year/year to $134.7 mln vs the $128.2 mln co