7:22 STM STMicroelectronics beats by $0.01, reports revs in-line; guides Q1 revs in-line (12.01 -0.23)
Reports Q4 (Dec) earnings of $0.27 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.26; revenues rose 10.4% year/year to $2.74 bln vs the $2.74 bln consensus. Co issues in-line guidance for Q1, sees Q1 revs down sequentially between -11% to -5%, which equates to ~$2.44-2.60 bln vs. $2.56 bln consensus. The gross margin is expected to be about 36.3%, plus or minus 1 percentage point.
17:19 STM sees Q1 revs down -11% to -5%, which equates to ~$2.44-2.60 bln vs $2.56 bln First Call consensus
17:17 STM sees Q1 net revenues to decline sequentially in the range between -5% and -11%
17:16 STM prelim $0.27 vs $0.26 First Call consensus; revs $2.74 bln vs $2.74 bln First Call consensus
17:14 RLI RLI Corp beats by $0.13 (53.11 +0.66)
Reports Q4 (Oct) earnings of $1.17 per share, excluding charges, $0.13 better than the First Call consensus of $1.04; revenues fell 10.6% year/year to $160.9 mln vs the $156.0 mln consensus.
17:13 FCFS sees FY08 $1.17-1.20 vs $1.51 First Call consensus
17:12 FCFS prelim $0.18 vs $0.38 First Call consensus; revs $107 mln vs $114.46 mln First Call consensus
17:10 PHHM Palm Harbor reports wider than expected loss, misses on revs (9.12 +0.35)
Reports Q3 (Dec) loss of $0.41 per share, $0.35 worse than the First Call consensus of ($0.06); revenues fell 7.1% year/year to $140.6 mln vs the $145 mln consensus. “Palm Harbor’s results for Q3 of fiscal 2008 reflect the significant issues and challenges facing the overall housing market. National HUD-code shipments are down 19% through November. The key states of Florida, Arizona and California are down 43% and comprise 48% of the total national decline in shipments. Texas, Florida, Arizona and California are the top four destination states for Palm Harbor’s HUD- code shipments. However, despite the weakness in three of the four largest markets for our HUD-code products, our same store unit sales increased 20% for the quarter driven primarily by increased Texas retail deliveries.”
17:08 PKG Packaging Corp reports EPS in-line, revs in-line; guides Q1 EPS below consensus (24.93 -0.5 
Reports Q4 (Dec) earnings of $0.46 per share, excluding non-recurring items, in-line with the First Call consensus of $0.46; revenues rose 4.9% year/year to $580.2 mln vs the $580.8 mln consensus. Co issues guidance for Q1, sees EPS of $0.36, vs. $0.45 consensus. Co says, “we expect our total corrugated products volume to be higher than Q4. Both our Counce and Valdosta linerboard mills will be down, as normal, for their annual maintenance outages, which will negatively impact earnings by about $0.06 per share. Certain timing-related benefit costs are the highest in Q1, and we also expect seasonally higher energy and fiber costs.
17:07 SJI reports Q4 EPS of $1.22, includes items may not be comparable to $0.62 First Call consensus
17:05 SJM J.M. Smucker increases share repurchase plan by 5 mln (44.66 -0.3
17:05 PHHM prelim ($0.41) vs ($0.06) First Call consensus; revs $140.6 mln vs $144.99 mln First Call consensus
17:04 BUSE First Busey Corp reports Q4 (19.54 +1.10)
Reports Q4 (Oct) earnings of $0.12 per share, includes charges, may not be comparable to the First Call consensus of $0.34.
17:04 NSC Norfolk Southern beats by $0.12, beats on revs (45.07 +0.92)
Reports Q4 (Dec) earnings of $1.02 per share, $0.12 better than the First Call consensus of $0.90; revenues rose 5.6% year/year to $2.5 mln vs the $2.34 mln consensus. “While the economic picture remains uncertain, we are optimistic about our prospects for 2008 and beyond..”
17:02 FA Fairchild reports late filing of form 10-k annual report (2.52 -0.1
17:01 NSC prelim $1.02 vs $0.90 First Call consensus; revs $2.45 mln vs $2.33 bln First Call consensus
17:01 WLP WellPoint Earnings Preview (78.75 -4.13)
WLP is expected to report 4Q07 earnings tomorrow before the mkt open with a conf call to follow at 8:30AM ET… WLP Consensus: Reuters 4Q07 EPS of $1.51, revs of $15.3 bln; 1Q08 EPS of $1.45, revs of $15.7 bln; FY07 EPS of $5.56, revs of $60.3 bln; FY08 EPS of 6.43, revs of $63.9 bln… Guidance: Co gave guidance of $5.56 EPS for 2007 on 1/8 JP Morgan Conference; for 2008, EPS of $6.41 and Revs of $63.9 bln. On Q3 earnings press release, the co gave guidance for Medical Expense Ratio (82.0%) for Q4, it is important because it shows the amount of revs from premiums that are paid out; Year-end medical enrollment of 34.9 mln members — growth to 35.9 mln members in ‘08, important for the co due to it being the key revenue driver. EPS has tended to be very close to consensus numbers, beating ests by no more than a few pennies, while rev growth has slowed down to single digits (from ~30%) the past few quarters… Expectations: Investors will be focused on the Medical Expense Ratio (guidance of 82.0%) and the new enrollment data for further details into the co’s performance. There has been margin pressure in the commercial business across the industry, analysts will be looking for further color and if it is pressuring WLP’s results. In addition, because of the slowdown in the economy, there have been worries that the enrollment growth will slow for the co. There is also some concern about the medical expense ratio… Areas of Focus on the Call: 1) Medical Expense Ratio color 2) New member enrollment color 3) Near-term outlook… Secondary Plays: HUM, WCG, HS, CVH, UNH, CI, AET…
17:00 PKG prelim $0.46 vs $0.46 First Call consensus; revs $580.2 mln vs $580.75 mln First Call consensus
17:00 ROL Rollins increases dividend by 25% (16.92 -0.64)
17:00 NABI NABI Biopharma resumes trading (3.76 -0.06) -Update-
16:55 S Sprint Nextel credit rating lowered by S&P (8.25 +0.10)
Standard & Poor’s Rating Services today lowered its corporate credit and senior unsecured ratings on Reston, Va.-based wireless carrier Sprint Nextel to ‘BBB-’ from ‘BBB’ and removed all ratings from CreditWatch where they were placed on Oct. 9, 2007 with negative implications. The outlook is negative.
16:51 STJ St. Jude Medical announces renewal of complete line of cardiovascular purchase agreements with HealthTrust Purchasing Group (40.25 +0.29) -Update-
Co announces that it has renewed its complete line of product agreements with HealthTrust Purchasing Group. The renewal will extend through December 2010 all existing purchasing agreements between the parties, which cover STJ’s complete line of Cardiac Rhythm Management, Atrial Fibrillation, Cardiac Surgery and Cardiology products.
16:50 NPSP NPS Pharm Biotechnology Value Fund discloses 5.7% stake in SC 13G (4.20 +0.05)
16:47 TRMK Trustmark misses by $0.07 (20.98 +0.05)
Reports Q4 (Dec) earnings of $0.42 per share, $0.07 worse than the First Call consensus of $0.49. Co said, “While Trustmark is not a sub-prime lender, we are not immune to the credit and market conditions facing the financial services industry. Management is actively engaged in the resolution of credit issues in the Florida Panhandle. We are closely monitoring the impact of declining real estate values on our borrowers and proactively addressing these situations. The loan portfolios in our other geographic markets, which constitute 90% of our total loans, are not experiencing any significant credit issues at this time.”
16:46 TRMK prelim $0.42 vs $0.49 First Call consensus
16:45 PLT Plantronics resumes trading (19.38 +0.53) -Update-
16:44 CYD China Yuchai resumes trading (7.55 -0.43) -Update-
16:42 FULT Fulton Fincl reports EPS in-line (10.51 +0.44)
Reports Q4 (Dec) earnings of $0.22 per share, in-line with the First Call consensus of $0.22. Co states: “2007 was a challenging year for the corporation and for our industry. While our earnings performance was impacted by the issues associated with Resource Mortgage, we have worked diligently to position the company for improved performance,” said R. Scott Smith Jr., chairman, chief executive officer and president. “Commercial loan growth was strong. While loan quality remains good, the provision for loan losses and the level of non-performing loans are coming off their historical lows as we had anticipated for some time. These trends required a more normal provision for loan losses. Excluding nonrecurring items, other expenses were well-controlled with some key areas showing reductions. Our investment portfolio holds no collateralized debt obligations and only agency-guaranteed mortgage-backed securities. Because our liquidity and capital levels remain strong, we have no short term plans to raise additional capital.”
16:40 TXN Texas Instruments beats by $0.01, reports revs in-line; guides Q1 EPS in-line, revs in-line (28.98 -0.4
Reports Q4 (Dec) earnings of $0.53 per share, excluding $0.01 tax benefit, $0.01 better than the First Call consensus of $0.52; revenues fell 2.9% year/year to $3.56 bln vs the $3.58 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.43-0.49 vs. $0.45 consensus; sees Q1 revs of $3.27-3.55 bln vs. $3.41 bln consensus. For Q4, revenue in the semiconductor segment was $3.48 bln, about even with the prior quarter. Compared with the same quarter a year ago, revenue increased 3% because demand was higher for TI’s digital signal processing and analog products. Revenue in the education technology segment Q4 was $81 mln. This was a decrease of $121 mln from the prior quarter as graphing calculator sales declined with the end of the back-to-school season. It was an increase of $3 mln from the year-ago quarter due to higher demand for graphing calculators.
16:40 FULT prelim $0.22 vs $0.22 First Call consensus
16:40 AAPL Apple beats by $0.14, beats on revs; iPod shipments below expectations; guides conservatively for Q2 (155.64 -5.72)
Reports Q1 (Dec) earnings of $1.76 per share, $0.14 better than the First Call consensus of $1.62; revenues rose 35.0% year/year to $9.61 bln vs the $9.47 bln consensus. Apple reports iPod shipments of 22.1 mln vs ~25 mln street expectation; reports iPhone shipments of 2.3 mln vs ~2.3 mln street expectation; reports Mac shipments of 2.3 mln vs ~2.3 mln street expectation. Co issues downside guidance for Q2, sees EPS of $0.94 vs. $1.09 consensus; sees Q2 revs of $6.8 bln vs. $6.98 bln consensus. (Briefing.com note: Apple guidance is typically conservative and that appears to be the case today as well. However, the headline that most people are going to focus on is the miss on iPod shipments.)
16:39 SPWR Sunpower Announces Triggering Event for Convertibility of 1.25% Senior Convertible Debentures Due 2027 and 0.75% Senior Convertible Debentures Due 2027 (77.92 +3.77) -Update-
Co announced that the last reported sale price of its class A common stock has equaled or exceeded $70.94 and $102.80, which represents 125% of the applicable conversion price for its two outstanding senior convertible debentures, for at least 20 of the last 30 trading days during SunPower’s fourth fiscal quarter ending December 30, 2007. Accordingly, pursuant to the terms of the applicable indenture governing its $200 million aggregate principal amount of 1.25% senior convertible debentures due 2027 and its $225 million aggregate principal amount of 0.75% senior convertible debentures due 2027, the market price conversion trigger has been satisfied and the debentures could be convertible at the holders’ option during SunPower’s first fiscal quarter ending March 30, 2008. However, given that the current market value of the debentures substantially exceeds the value holders would receive upon conversion if the class A common stock remains at current levels through the applicable 20 day observation period, SunPower believes that holders may not have a significant economic incentive to convert at this time. Pursuant to the terms of the indenture, the principal amount of any debentures surrendered for conversion must be settled in cash. As a result of the class A common stock price conversion trigger, SunPower will classify the $425 million aggregate principal amount of the debentures as short-term debt on its December 30, 2007 balance sheet. In addition, SunPower will expense approximately $8.2 million and $1.0 million of unamortized debt issuance costs in its fourth fiscal quarter of 2007 and first fiscal quarter of 2008, respectively.
16:38 WASH Washington Trust reports 4Q07 EPS of $0.43 vs. $0.45 YoY; decline primarily due to higher provision for loan losses (24.39 +0.99)
16:36 NCC National City announces a $1 bln convertible notes offering pursuant to an effective shelf registration statement (15.29 +0.96) -Update-
16:35 SUPX Supertex misses by $0.01, misses on revs (21.02 -0.97)
Reports Q3 (Dec) earnings of $0.30 per share, excluding pre-tax employee stock-based compensation of $535K, $0.01 worse than the First Call consensus of $0.31; revenues fell 8.5% year/year to $20.2 mln vs the $22.2 mln consensus. “As expected, sales of our LED drivers for backlighting LCD TVs declined sequentially due to reduced orders from our major LCD TV customer, caused primarily by weaker than expected Christmas season sales of their new high-end LCD TVs,” commented Henry C. Pao, President & CEO.
16:34 CBR Ciber sees Q4 EPS below consensus, revs above consensus (4.81 -0.16)
As mentioned at 16:32, CBR announced it expects Q4 EPS of $0.12 vs. 0.14 First Call consensus; sees revs of ~$290 mln vs $268.40 mln First Call consensus. “We are very encouraged to have the highest revenue growth, both total and organic, since the late 1990’s. However, the lowest fourth quarter commissions on product revenues in several years and heavy time-off during the holidays combined leave us approximately $0.01 per share GAAP EPS less than we had expected for the quarter,” said Mac Slingerlend, CIBER’s President and Chief Executive Officer.
16:34 JCG J. Crew says that President Jeffrey Pfeifle to leave co (39.99 +0.03)
Co announces that its President, Jeffrey Pfeifle, will leave the Company effective February 1, 2008. The co noted that Mr. Pfeifle’s responsibilities will be assumed by members of the executive team with no near term plan to fill his position.
16:34 XJT ExpressJet: Hayman Advisors discloses 6.25% stake in SC 13D; sends letter requesting certain changes to business practices and strategy (2.26 -0.41)
In filing, the firm states “We believe that the Company must immediately do the following: 1. Repair the Continental relationship at the executive level. 2. Sublease or seek to place with other carriers the balance of the planes which are currently providing service for the Branded Flying. 2. Sublease or seek to place with other carriers the balance of the planes which are currently providing service for the Branded Flying. 4. Engage an investment bank to run a real M & A process. 5. Refocus on the Company’s core competencies — fixed rate/pro rate flying agreements with major airlines.”
16:34 NABI NABI Biopharma initiates new strategic alternatives process; to possibly sell the co (3.77 -0.06) -Update-
The co announces that its Board of Directors has authorized the exploration of the full range of strategic alternatives available to the company in order to further enhance shareholder value. This strategic alternatives process will focus on, but is not limited to, a sale or merger of the co. Nabi has engaged Banc of America Securities as financial advisor for this strategic process.
16:33 STJ St. Jude Medical announces FDA approval of next generation internet-based data management system for implantable cardiac devices (40.28 +0.29) -Update-
16:33 RTEC Rudolph Tech announces intellectual property and asset purchase from RVSI Inspection (10.02 +0.02)
The co announces that it has acquired all intellectual property and selected assets from privately-held RVSI Inspection, headquartered in Hauppauge, New York.
16:33 IDT IDT Corp to acquire a controlling interest in EGL Oil Shale (6.85 0.00)
Co announces that IDT has signed a binding Letter of Intent to acquire a 75% interest in EGL Oil Shale (one of three holders of 10-year leases granted by the US Bureau of Land Management to research, test and demonstrate the potential for commercial oil shale production). Proceeds from IDT’s investment will be used to fund EGL’s Research, Development and Demonstration plan.
16:33 JPM JP Morgan Chase discloses option grant to CEO (40.86 +1.27)
“On January 15, 2008, the Board of Directors of JPMorgan Chase & Co. determined to grant Chairman and Chief Executive Officer James Dimon 2,000,000 options in the form of stock appreciation rights. In making this special grant, the Board considered the importance of Mr. Dimon’s continuing, long-term stewardship in realizing the Company’s potential as a premier financial institution and the extremely competitive environment for leadership talent. The options are not part of Mr. Dimon’s regular annual compensation and will not be awarded on a regularly recurring basis. Also, these are the first options awarded to him since he became the Company’s CEO on January 1, 2006.”
16:32 CBR sees Q4 EPS of $0.12 vs $0.14 First Call consensus; sees revs of ~$290 mln vs $268.40 mln First Call consensus
16:32 TXN sees Q1 $0.43-0.49 vs $0.45 First Call consensus; sees revs $3.27-3.55 bln vs $3.41 bln First Call consensus
16:31 CIEN Ciena announces intent to acquire World Wide Packets for ~$200 mln in cash and 3.4 mln shares of Ciena common stock (26.15 -0.35)
Co announces that it has reached a definitive agreement to acquire privately-held World Wide Packets, a supplier of solutions for enabling the cost-effective delivery of a wide variety of Carrier Ethernet-based services. Ciena also announced today it has been awarded a multi-year contract with AT&T (T) to supply the global carrier with these platforms. Under the terms of the acquisition agreement, World Wide Packets will merge with a wholly-owned subsidiary of Ciena, and all outstanding shares of World Wide Packets common and preferred stock will be exchanged for ~$200 mln in cash and 3.4 mln shares of Ciena common stock (aggregate value of shares to be issued is ~$90 mln). In addition, CIEN will assume up to $15 mln in outstanding World Wide Packets debt. The boards of directors of both Ciena and World Wide Packets have approved the transaction and it is expected to close during CIEN’s Q2 of FY08.
16:31 SUPX prelim $0.30 vs $0.31 First Call consensus; revs $20.15 mln vs $22.21 mln First Call consensus
16:31 SMIT Schmitt Industries reports Q2 EPS of $0.10 vs $0.10 YoY, revs rose 5% YoY to $3.11 mln (6.14 -0.15)
16:31 TXN prelim $0.54 vs $0.52 First Call consensus; revs $3.56 bln vs $3.58 bln First Call consensus
16:30 AAPL sees Q2 $0.94 vs $1.09 First Call consensus; sees revs $6.8 bln vs $6.98 bln First Call consensus
16:30 AAPL prelim $1.76 vs $1.62 First Call consensus; revs $9.61 bln vs $9.47 bln First Call consensus
16:27 ECBs Weber says inflation should slow over course of 2008; may fall below 2% in 2009– Bloomberg
16:27 ECB’s Weber sees no reason for ECB to cut economic growth forecasts - Bloomberg
16:27 NABI NABI Biopharma names Dr. Raafat Fahim as President and Chief Executive Officer (3.77 -0.06)
Co announced that the company’s Board of Directors has named Raafat Fahim, Ph.D. as President and Chief Executive Officer. Dr. Fahim, who also joins the Board as a director, succeeds Leslie Hudson, Ph.D., who had served as Interim President and Chief Executive Officer since February 2007. Dr. Hudson will remain on the Board of Directors. (stock is halted)
16:24 CPBK Community Capital reports quarterly EPS of $0.41, up 19% from a year ago of $0.35 (14.22 -1.63)
16:21 QI Qimonda reports DecQ below consensus (5.50 -0.30)
Co reports Q1 (Dec) loss per share of Euro 1.75 vs consensus of Euro (0.89). Revenue fell 56% yr/yr to Euro 513 mln vs consensus of Euro 643.7 mln. Co says “the DRAM market saw a further drop of more than 40% in standard DRAM pricing, one of the strongest declines in a December qtr… we are significantly cutting our capital expenditure plan for the current financial year by Euro 250 million.”
16:18 HOKU HOKU Scientific beats by $0.09, beats on revs; guides Q4 revs below consensus (9.12 -0.27)
Reports Q3 (Dec) loss of $0.01 per share, $0.09 better than the First Call consensus of ($0.10); revenues rose 15.0% year/year to $1.3 mln vs the $1.1 mln consensus. Co issues downside guidance for Q4, sees Q4 revs of $0.6-1.2 mln vs. $1.35 mln consensus. Co states that they expect to see some volatility in quarterly earnings as they implement polysilicon strategies. In addition co says it will need to increase efforts in supporting ploysilicon initiative and that the increased costs would keep the co from being profitable for the foreseeable future including 4Q08. Primarily due to the new contract with Solarfun, co has decided to increase the annual capacity of Phase I of planned polysilicon facility from the previously announced 2,500 metric tons per year to 3,500 metric tons per year. This will increase the cost of the facility to $400 mln from $300 mln; will increase expected revenue rate to $180-200 mln from $120-140 mln.
16:17 AEIS Advanced Energy lowers Q4 guidance below consensus (10.22 -0.06) -Update-
Co sees Q4 EPS of $0.07-0.08 vs $0.14 First Call consensus; revs $84 mln vs $87.00 mln First Call consensus. Co cites continued weakness in the semiconductor market. “The decline of revenue during the fourth quarter was driven primarily by softness in the semiconductor industry and order delays by key OEMs. We will organize and implement cost reduction plans in light of the current market environment.”
16:16 AEIS sees Q4 EPS of $0.07-0.08 vs $0.14 First Call consensus; revs $84 mln vs $87.00 mln First Call consensus
16:15 ANLY Analysts Intl announces new plan to restore the company to profitability (1.16 -0.0
Co has designed it new plan to restore the Company to profitability and increase shareholder value… The objectives of the plan include increasing revenue, improving margins and adding personnel in sales and recruiting in higher-margin businesses; expanding business and service offerings in key geographic markets; and reducing corporate expenses through consolidation of back-office and other corporate overhead functions. Other key initiatives will include exiting non-strategic, non-core business lines and increasing efficiency through process and productivity improvements… “Our number one objective is to increase shareholder value,” stated Baldwin. “Our highest priority is changing how we run this business and creating efficiencies across the organization in order to restore profitability. The first step in our plan is to permanently remove certain costs so that the Company achieves sustainable profitability.” … Implementing the following measures: 1) Adding headcount in key functional areas. 2) Expanding its solutions services by launching project-oriented IT consulting practices. 3) Exiting businesses that are non-core and non-strategic to its new plan and aligning the Company to focus on its core, IT-related competencies and clients. 4) Reducing operating expenses. 5) Investing in its own information technology systems in order to simplify, streamline and automate business processes.
16:15 AEIS Lowers Fourth Quarter 2007 Guidance
16:15 WFC Wells Fargo announces a quarterly common stock dividend of 31 cents per share (26.95 +1.47)
16:15 TECHX Dow Industrials make a late day attempt, but fails to decisively breach the intraday recovery highs
The Dow Industrials opened down almost 500 points to new 52Wk lows after two days of a global sell-off but settled much higher as buyers stepped in looking for value among large caps. Late in the trading day the average made an attempt to turn positive but after failing to take out the intraday recovery high surrounding the 12065 level, profit taking surfaced driving the Dow back down to triple digit losses. The S&P 500 also hit new 52Wk lows below the 1275.00 level before recouping about 3.0% of it’s initial plunge. Small caps displayed the most strength in today’s session as a lower Fed Funds rate is most beneficial to the small cap space. The Russell 2000 index of small cap companies settled mostly unchanged after setting new 52Wk lows @ the open. Unofficially, the INDU settled @ 11971 -128, SPX @ 1310 -14.50, COMPQ @ 2292 -47.75, & RUT @ 671 -1.50. Sector strength today is noted in Homebuilders (XHB +4.7%), Retail (RTH +3.6%), Financial Services (IYG +2.9%), & Consumer Discretionary (XLY +2.65%). Sector weakness comes from Utilities (XLU -3.7%), Biotech (IBB -3.2%), Healthcare (XLV -3.0%), & Tech (XLK -2.6%).
16:14 CNI Canadian Natl Rail reports Q4 EPS of C$0.90 ex items vs C$0.88 consensus; revs declined 3% YoY to C$1.9 bln vs C$2.0 bln consensus (43.76 -0.36)
CNI sees mid-to-high single digit EPS growth in 2008.
16:14 PVSW Pervasive Sftwr reports DecQ results slightly below single estimate (3.55 -0.01)
Co reports Q2 (Dec) EPS of $0.05, ex-items, vs single analyst estimate of $0.06. Revenue rose 2.6% yr/yr to $10.3 mln vs single estimate of $10.4 mln. For Q3 (Mar), co expects revenue of $9.5-10.5 mln vs single est of $10.8 mln. Co sees EPS, ex-items, of $0.03-0.06 vs single est of $0.07.
16:14 CAMD California Micro beats by $0.04, misses on revs; guides Q4 EPS, guides revs below consensus (3.81 -0.1
Reports Q3 (Dec) earnings of $0.01 per share, excluding non-recurring items, $0.04 better than the First Call consensus of ($0.03); revenues fell 15.7% year/year to $15 mln vs the $15.8 mln consensus. Co issues guidance for Q4, sees EPS of $(0.03)-(0.01), includes charges and option expense, may not be comparable to ($0.01) consensus; sees Q4 revs of $13.5-15.0 mln vs. $15.90 mln consensus.
16:14 CREE Cree beats by $0.05, beats on revs; guides Q3 EPS in-line, revs in-line (25.65 -0.13)
Reports Q2 (Dec) earnings of $0.11 per share, excluding non-recurring items and including stock based compensation expense of $0.03, $0.05 better than the First Call consensus of $0.06 (or $0.14 vs $0.13 consensus, excluding all items, reported as non-GAAP). Co reports gross margin of 35.1% vs 32.1% street expectation. Co guides in-line for Q3, sees EPS of $0.14-0.16 excluding non-recurring items and stock based compensation vs the consensus of $0.13 on the same basis; sees Q3 revs of $120-125 mln vs. $122.58 mln consensus.
16:13 PETM PETsMART issues downside Q4 EPS guidance (23.05 +1.47)
Co issues downside guidance for Q4 (Jan), sees EPS of $0.57-0.61 vs. $0.71 First Call consensus, which includes an estimated benefit of $0.07 per share for a 53rd week of sales. “We experienced relatively weak sales during the later half of November and the majority of December in what we believe was a challenging consumer environment.”
16:12 MOSY MoSys guides Q4 revs to be approx $2.9 mln vs consensus of $4.03 mln (3.65 -0.0 -Update-
MOS issues downside guidance, sees Q4 revs of $2.9 mln vs $4.03 mln First Call consensus. These results were lower than expected due primarily to a shortfall in licensing rev.
16:11 GRT Glimcher Realty issues FY08 FFO guidance (13.10 +0.41)
Co sees diluted FFO per share to be in the range of $2.00 to $2.08 (vs $2.17 consensus) for the year ending December 31, 2008. “We are pleased with the internal growth from our core mall portfolio, but have tempered our overall guidance to reflect anticipated softness in the U.S. economy during 2008. While we remain committed to the strategy of upgrading the quality of our real estate portfolio and are excited about the progress being made on key projects, we must maintain an appropriate balance with a focus on liquidity and capital within this challenging environment.” The Company continues to evaluate opportunities to joint venture or to sell a portion of its trade area dominant portfolio. With the uncertainty created by the current capital markets, it is difficult to forecast the timing, pricing, and size of any opportunity or whether such transaction will be consummated. Accordingly, the impact of any potential transaction has not been reflected in the 2008 earnings guidance.
16:11 ACF AmeriCredit misses by $0.41, reports revs in-line; guides FY08 EPS below consensus (10.28 -0.17)
Reports Q2 (Dec) loss of $0.17 per share, $0.41 worse than the First Call consensus of $0.24; revenues rose 13.5% year/year to $653.3 mln vs the $652.6 mln consensus. Co issues downside guidance for FY08, sees EPS of $1.35-1.55, down from $2.30-2.50 vs. $1.74 consensus. FY08 originations target reduced to $6.5-$7.0 bln. Provision for loan losses as a percent of average receivables of between 5.8% and 6.3%.
16:11 MoSys (MOSY) guides Q4 revs below consensus
16:10 FIC Fair Isaac reports EPS in-line, revs in-line; guides Q2 EPS below consensus, revs in-line; guides FY08 EPS in-line, revs in-line (22.06 -0.54)
Reports Q1 (Dec) earnings of $0.39 per share, in-line with the First Call consensus of $0.39, revs fell 4% YoY to $199.4 mln vs $204.44 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.44 vs. $0.45 consensus; sees Q2 revs of $205 mln vs. $204.44 mln consensus. Co issues in-line guidance for FY08, sees EPS of $1.80-1.90 vs. $1.83 consensus; sees FY08 revs of $825-835 mln vs. $829.51 mln consensus. The bookings for the first qtr were $102.4 mln compared to $72.1 mln in the same period last year.
16:09 SPSN Spansion beats by $0.17, misses on revs; guides Q1 revs in-line (2.95 -0.0
Reports Q4 (Dec) loss of $0.37 per share, $0.17 better than the First Call consensus of ($0.54); revenues fell 5.0% year/year to $652.8 mln vs the $660.1 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $580-640 mln vs. $617.4 mln consensus.
16:09 GRT sees FY08 funds from operations of $2.00-2.08 vs $2.17 First Call consensus
16:09 CYD China Yuchai: Halted - ahead of news (7.55 -0.43) -Update-
16:08 ACF sees FY08 $1.35-1.55, down from $2.30-2.50. vs $1.74 First Call consensus
16:08 ACF Americredit: Halted ahead of earnings (10.28 -0.17)
16:08 ACF prelim ($0.17) vs $0.24 First Call consensus; revs $653.25 mln vs $652.57 mln First Call consensus
16:07 HOKU sees Q4 revs $0.6-1.2 mln vs $1.35 mln First Call consensus
16:07 DOX Amdocs reports EPS in-line, revs in-line; guides Q2 EPS in-line, revs in-line; reaffirms FY08 EPS in-line, revs in-line (31.10 -0.5
Reports Q1 (Dec) earnings of $0.56 per share, excluding acquisition charges and $0.05-0.06 in option expense, in-line with the First Call consensus of $0.56; revenues rose 7.4% year/year to $742.3 mln vs the $739.8 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.57-0.59, excluding non-recurring items, vs. $0.57 consensus; sees Q2 revs of $757-767 mln vs. $759.08 mln consensus. Co reaffirms in-line guidance for FY08, sees EPS of $2.29-2.39, excluding non-recurring items, vs. $2.35 consensus; sees FY08 revs of $3.05-3.15 bln vs. $3.09 bln consensus.
16:07 CLUB Town Sports Intl announces the appointment of Daniel Gallagher as CFO (7.96 -0.20)
16:07 ACF prelim ($0.17) vs $0.24 First Call consensus
16:07 SPSN sees Q1 revs $580-640 mln vs $617.4 mln First Call consensus
16:07 FIC sees FY08 $1.80-1.90 vs $1.83 First Call consensus; sees revs $825-835 mln vs $829.51 mln First Call consensus
16:06 PETM lowers Q4 guidance to $0.57-0.61 vs $0.71 First Call consensus
16:06 CAMD sees Q4 ($0.01-0.03), may not compare to the ($0.01) First Call consensus; sees revs $13.5-15.0 mln vs $15.90 mln First Call consensus
16:06 BDAY Celebrate Express names Kristopher Galvin as new CFO (5.98 -0.37)
Co announces that Kristopher Galvin will join the co as CFO, beginning on January 29, 2008.
16:06 FIC sees Q2 $0.44 vs $0.45 First Call consensus; sees revs $205 mln vs $204.44 mln First Call consensus
16:06 SPSN prelim ($0.37) vs ($0.54) First Call consensus; revs $652.8 mln vs $660.1 mln First Call consensus
16:06 TRCA Tercica initiates phase II clinical trial with next-generation growth hormone product for the treatment of short stature (6.85 +0.12)
16:05 HOKU prelim ($0.01) vs ($0.10) First Call consensus; revs $1.3 mln vs $1.06 mln First Call consensus
16:05 CAMD prelim $0.01 vs ($0.03) First Call consensus; revs $14.95 mln vs $15.83 mln First Call consensus
16:05 FIC prelim $0.39 vs $0.39 First Call consensus; revs $199.4 mln vs $198.80 mln First Call consensus
16:05 PLT Plantronics: Halted - news pending (19.38 +0.53) -Update-
16:04 PLT Plantronics beats by $0.10, reports revs in-line; guides Q4 EPS below consensus, revs below consensus (19.32 +0.47)
Reports Q3 (Dec) earnings of $0.50 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.40; revenues rose 8.1% year/year to $232.8 mln vs the $233.3 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.24-0.32, excluding non-recurring items, vs. $0.33 consensus; sees Q4 revs of $195-205 mln vs. $211.28 mln consensus.
16:04 CREE Q4 EPS of $0.14, excludes stock based comp, not comparable to $0.06 consensus
16:03 CYD China Yuchai announces that the Audit Committee has concluded its independent inquiry (7.55 -0.43)
Co announces that the Audit Committee had concluded its independent inquiry into the facts and circumstances of the potential accounting errors relating to the previously-disclosed adjustment of accounts payable of ~$22.5 mln by the co’s subsidiary, Guangxi Yuchai Machinery, in Yuchai’s accounts for fiscal years ended December 31, 2005 and December 31, 2006. To assist in the investigation, the Audit Committee retained independent counsel. The Audit Committee made the following key conclusions: adjustment of accounts payable in the amount of approximately RMB 168 million was made in error but was not the result of any fraud or intentional wrongdoing on the part of any employee of the Company or Yuchai and based on the investigation, has made recommendations to the Board in order to prevent such an occurrence again. Based on the findings of the report, the Company is now working diligently to determine what adjustments need to be made to correct the errors, and whether any such adjustments will result in a restatement of the Company’s 2005 audited financial statements. (Stock is currently halted)
16:03 MOH Molina Healthcare issues FY08 guidance (36.67 +0.0
As mentioned at 16:01 co issues guidance for FY08 (Dec), sees EPS of $2.25-2.45 vs. $2.34 First Call consensus; sees FY08 (Dec) revs of $2.9 bln vs. $2.86 bln consensus. Co says guidance for 2008 assumes an effective tax rate of 38.3% and weighted average diluted shares outstanding of 28.8 mln. The co’s guidance for dilutive shares outstanding does not include any potential dilution from its senior convertible notes.
16:03 CREE sees Q3 $0.14-0.16, ex items, may not be comparable to $0.09 First Call consensus; sees revs $120-125 mln vs $122.58 mln First Call consensus
16:03 DOX reaffirms FY08 $2.29-2.39 vs $2.35 First Call consensus; sees revs $3.05-3.15 bln vs $3.09 bln First Call consensus
16:02 CREE prelim $0.14 vs $0.06 First Call consensus; revs $119 mln vs $116.44 mln First Call consensus
16:02 DOX sees Q2 $0.57-0.59 vs $0.57 First Call consensus; sees revs $757-767 mln vs $759.08 mln First Call consensus
16:01 BANR prelim $0.38, ex-items vs. $0.53 First Call consensus
16:01 DOX prelim $0.56 vs $0.56 First Call consensus; revs $742.3 mln vs $739.78 mln First Call consensus
16:01 PLT sees Q4 $0.24-0.32 vs $0.33 First Call consensus; sees revs $195-205 mln vs $211.28 mln First Call consensus
16:01 PLT prelim $0.50, ex items vs $0.40 First Call consensus; revs $232.8 mln vs $233.25 mln First Call consensus
