After Hours

9:06 WRAPX After Hours Summary: SNDK down 5.3% on earnings/guidance; ABK up 3.3% (JP Morgan files amended 13G filing disclosing increased 7.7% stake, up from prior stake of 5.4%) -Update-

Companies moving in after hours trading in reaction to earnings: Trading Up: STLY +17.9%; SSCC +9.0%; ARG +4.6%; IPAR +3.4%; UNM +1.9%; AMLN +1.7%… Trading Down: VMW -26.3%; ZRAN -21.5%; ICUI -16.9%; MTH -9.3%; RBI -6.8%; SNDK -5.3%; ALB -4.7%; JDAS -2.8%; CLMS -2.8%; AXP -2.7%; CNW -1.3%… Companies moving in after hours trading in reaction to news: Trading Up: ABK +3.3% (JP Morgan files amended 13G filing disclosing increased 7.7% stake, up from prior stake of 5.4%); LEN +2.7% (declares a quarterly cash dividend of $0.16/share for Class A and B common stock); SSRX +1.4% (announces appointment of Kevin Sow Peng Teo as Chief Financial Officer)… Trading Down: SEPR -12.1% (Nycomed’s Ciclesonide to be commercialized in the United States by Sepracor); RBI -6.8% (comments on recent stock volatility; Announces $10 million share buyback plan); NPSP -2.9% (provides update on Gattex clinical development in short bowel syndrome); AGO -2.5% (SAC Capital discloses 5.4% stake in SC 13G); NXG -1.7% (say it had gold production of 41,467 ounces in Q4 bringing total 2007 production to 245,631 ounces); VIVO -1.3% (promotes John Kraeutler to Chief Executive Officer, William Motto moves to Executive Chairman).
19:05 ATAI 4.87 mln-share IPO priced at $9.50 per share - DJ

19:05 TESS TESSCO Tech beats by $0.09; guides Fy08 EPS in-line (17.78 -0.27)

Reports Q4 (Oct) earnings of $0.29 per share, $0.09 better than the First Call single-analyst est of $0.20; revenues rose 1.0% year/year to $135.7 mln (No First Call consensus). Co issues in-line guidance; sees FY08 EPS of $0.63-0.73 vs $0.68 single-analyst est.
18:52 CX CEMEX S.A. reports, revs in-line; reports net income (24.00 -0.37)

Reports Q4 (Dec) revenues rose 30.0% year/year to $5.8 bln vs the $5.84 bln consensus. Net income increased 43% to $538 mln from $377 mln in Q4 in the prior year.
18:46 SMG Scotts Miracle-Gro misses by $0.05; reaffirmed FY08 revs in-line (34.15 -0.02)

Reports Q4 (Oct) earnings of ($1.09) per share, $0.05 worse than with the First Call consensus of ($1.04); revenues rose 14.0% year/year to $308.7 mln vs the $286.2 mln consensus. Co reaffirms FY08 revs growth of 6-8%, which calculates to ~$3.04-3.10 bln vs $3.07 bln consensus. Co says, “Due to the incremental interest expense impact of our recapitalization in mid-2007 and our decision to make investments in several long-term projects this year we remain committed to our guidance that adjusted net income for FY08 will be flat to slightly down from 2007 levels.”
18:33 CMO Capstead Mortgage announces pricing of public offering of common stock of $15.50 (15.81 +0.21) -Update-

Co announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a price to the public of $15.50 per share. CMO has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock to cover over-allotments, if any.
18:27 STLD Steel Dynamics beats by $0.02, reports revs in-line; mid-point of Q1 guidance is below consensus (52.90 +1.46)

Reports Q4 (Dec) earnings of $1.00 per share, $0.02 better than the First Call consensus of $0.98; revenues rose 72.8% year/year to $1.45 bln vs the $1.45 bln consensus. For Q1, the mid-point of guidance is below consensusco. Co sees Q1 EPS of $1.10-1.20 vs. $1.20 consensus…. Co says “Our outlook for 2008 is very positive… we are currently seeing stronger demand for flat-rolled steels than in 2007, due principally to low steel inventories and an expected lower level of steel imports. For long products, demand continues to be strong as we enter Q1, and we believe that it will continue. Meanwhile, ferrous resources have seen dramatic price increases in the past few months, and may remain strong.”
18:26 RAMR Ram Holdings appoints Edward U. Gilpin Chief Financial Officer (1.79 +0.10)

Co announced that Edward U. Gilpin has joined the company as Chief Financial Officer. Gilpin will report to Vernon M. Endo, the company’s Chief Executive Officer. Gilpin joins RAM Holdings from ACA Capital Holdings (Pink Sheets:ACAH), a holding co that provides asset management services and credit protection products, where he was Executive Vice President and Chief Financial Officer and a Director.
18:22 STLD prelim $1.00 vs $0.98 First Call consensus; revs $1.45 bln vs $1.45 bln First Call consensus

18:13 ZRAN Zoran Earnings Call Summary (15.03 ) -Update-

On the call, the co says camera makers are aggressively driving prices down in order to win business, the co says it has received very positive feedback from its customers from its new 5C processors… sales of the phone are exceeding expectations. The co sees continued demand for IPS page description language software… Demand in the retail segment of the mkt remains steady. Price points in this mkt continue to decline putting pressure on OEMs to devote considerable development and resources to new designs. In the China digital cable mkt, ZRAN is experiencing strong growth where volume is ramping as the 2008 Olympics approach. In addition, we are positioned to increase the co’s share in this growing set top box mkt in 2008… The co reviewed its investment portfolio and found no direct exposure to mortgage-back investments… Mgmt sees in Q1 some softness in demand in general because of some uncertainty that in the consumer electronics mkt in the first half of the year. Mgmt is expecting more seasonality in camera, in imaging and in DVD. Mgmt expects that Q1 will be stronger in digital television and we are expecting, of course, Q1 to be fairly strong in the handset business. In response to an analyst question regarding tax rate… going further, it is going into the 30% +/- range… Gross margin has been weaker due to pricing pressures and not a favorable mix. The co sees gross margin trickling down over time… north of 50% gross margin not-sustainable… its long-term gross margin target is in the high 40’s. The weakness in the camera business is due to seasonality and macroeconomic issues in the US; co does not see digital camera mkt down this year…units are going up…ASPs are going down…co sees an increase in mkt share. ZRAN believes operating margins will rebound in Q2 and Q3 and hopefully get back to what they were in 2007… The co believes that Q1 is the trough quarter… The stock trading at $12.08 after hours.
18:11 X U.S. Steel Earnings Preview (110.07 +1.0 -Update-

US Steel (X) is set to report Q4 results tomorrow in the pre-market. Consensus calls for EPS of $2.19, which has been steady for the past two months, and revenue of $4.30 bln. Past Performance: Last qtr was the first time in the past seven qtrs where X did not beat consensus; the co sometimes beats by a very wide margin. Q3’s miss came as a big surprise as the stock dropped 6.5 points in the pre-mkt that day… Recent Developments: On Nov 30, X announced it was considering a $1 bln capital investment program at its Clairton Plant coke making operation near Pittsburgh. Last week, X announced an alliance with JFE Holdings, the world’s third-biggest steelmaker, to exchange know-how in parts of the upstream steelmaking process. Analyst Expectations: On Jan 10, Keybanc upgraded X heading into this report. The firm went to Aggressive Buy from Buy and maintained its $135 tgt saying the outlook for flat-rolled market conditions in 2008 appears to be improving, enhancing their previous view that flat-rolled steel producers offer the most timely risk-reward for investors. Other Steelmakers: Both AKS and NUE have already reported Q4 results. Both were beats, including a blow-out for AKS. However, NUE did guide Q1 below consensus, yet the stock traded much higher the next day so that’s a good sign… Secondary Plays: STLD, NUE, AKS, CMC, GNA, MT… Levels of Interest: Click here for technical levels of interest. (Note that the length of horizontal line correlates with strength of support or resistance level). (PVIEW)
18:11 GMTC GameTech and TCSJOHNHUXLEY Agree to Relationship (6.62 +0.73)

Co announced that it has entered into a distributor agreement with TCSJOHNHUXLEY (”TCS”). The agreement covers sales and support service of GameTech electronic bingo products by TCS in the U.K. This contract represents the further expansion of GameTech into global gaming markets.
18:08 NHWK Nighthawk Radiology guides 2007 EPS and vres below consensus (18.88 +0.35)

Co issues downside guidance; co sees 2007 EPS of $0.90-0.91, excluding charges and option expense, vs $0.94 consensus; sees 2007 revs of $151-152 mln vs $154.1 mln consensus.
18:07 VMW VMware on Conference Call -Update-

U.S. revenue for 2007 grew 84% from a year ago to $721 million, and international revenue increased 94% to $605 million… U.S. revenue represented 52% of total revenue in Q4; saw strength in all international markets, continued to invest globally in sales, marketing, and product support… did not receive any benefit from currency translation… overall transaction size is increasing… co repeats stance that they would not put too much weight on operating margins as they will flucuate during co’s expansion… licensed revenue and deferred services revenue from the November/December timeframe will be recognized in Q1 of 2008 ($54 mln). Q4 reflects revenue and deferred revenue reported during the quarter from OEM bookings in August and September. Like last quarter, there is some sequential increase expected which will benefit Q1 2008… expects Op margins in 2008 to remain in mid 20s but says there may be a slight seasonal down tick in Q1… guidance for 2008 rev growth of 50% YoY comes to roughly $1.99 bln vs $2.08 bln First Call consensus… Expects % rev growth to be higher in 1H08… co is not working in a price decrease into guidance (so do not expect competition to cause them to lower)… co notes that they have been doing guidance internally so not just a shot in the dark… 50% rev growth guidance is largely based on the scale of their business… co says did not see any notable weakness in the U.S. markets in any particular quarter… not providing a breakout between services and license in guidance… co says they see great demand but they need to see how the market develops before they make some assumptions… says competition is not delaying sales; says customers have tried some competitors products and told the co they see no reason to switch… guidance does not take into consideration a significant upswing in desktop… Expect to continue to grow deferred revenue at a substantial rate… co says have been building guidance independently of EMC… co states that they are not providing capex guidance at this time… reiterates belief that they can maintain prices… call has ended… stock is trading at $60.99 in after hours.
18:06 SNDK SanDisk Earnings Call Summary (25.89 +0.27)

On call the co guides Q1 revs to $775-875 mln vs $1.01 bln First Call consensus; guides FY08 rev growth at 15-25% which equates to $4.48-4.87 bln vs consensus of $4.817 bln. The co says guidance “assumes continued softness in consumer demand but continued progress in growing our international market share and continued momentum in the mobile market. We expect both our megabite growth and price declines to be more moderate in ‘08 than in ‘07. Within our total revenue forecast, we expect license and royalty revenue to be between 450-500 mln. Non-GAAP product gross margin for 2008 is expected to be 24-28%, compared to 24% in ‘07. We have significantly slowed down hiring, based on our assessment of the current pricing environment and worldwide economic conditions. We will actively manage our expense profile based upon market conditions and the key investments required for the future. Balancing all of these factors, we are forecasting our FY non-GAAP operating margin at 13-16%.”… The co says they “think that there is some caution right now in terms of consumer buying habits in the marketplace. And that has contributed to our guidance for the first quarter. But again, the overall decline from Q4 to Q1 in our guidance is similar to the decline Q4 to Q1 last year… They think there is certainly uncertainty here in the U.S. market. We have not seen any signs so far of leakage into EMEA or Asia-Pacific. We do think there will be a pick-up from Asia-Pacific for the Olympics… Cell phone market is a global market and the demand in the US continues strong. We think that we have the tremendous upside in international markets as far as market share. The OEM business is very healthy. So price elasticity eventually kicks in. Pricing now is extremely attractive and I think people are going to start moving to the 2 and 4 gigabyte capacity and video applications as well as music driving capacity requirements to the 4, 8 and 16 megabite.” The co says they are not supply constrained in the first quarter… The co says they built very strong momentum in 07 and established the network of sales distribution and pretty much all key geographies and want to continue to leverage that in ‘08. They expect the gains in share in ‘08 to be similar to the gains made in ‘07… On the Samsung royalty negotiation, the co says they think it is in the interest of both cos to resolve this before the expiration of the current contract… The stock is trading at $24.65 in after hours.
18:06 NHWK sees 2007 EPS of $0.90-0.91 vs $0.94 consensus; sees 2007 revs of $151-152 mln vs $154.1 mln consensus

17:57 ANH Anworth Mortgage announces over-allotment exercise of 2.145 mln shares (9.07 +0.14)

Co announced that, on January 25, 2008, the underwriters participating in its public offering of 14.3 mln shares of common stock, which priced on January 24, 2008, exercised in full the over-allotment option for an additional 2.145 mln shares of common stock that ANH granted to them in connection with the offering. After giving effect to the exercise of the over-allotment option, ANH will sell 16.445 mln shares of common stock in the offering and will receive net proceeds of ~$136.5 mln after underwriting discounts, commissions and estimated offering expenses. ANH intends to use all of the net proceeds from this offering to acquire agency mortgage-backed securities.
17:44 Cascal NV 12 mln-share IPO priced at $12/share - DJ

17:38 SLFI Sterling Fincl annouced the Nasdaq Listing and Hearing Review Council determined to exercise its discretionary authority to grant SLFI an exception to demonstrate compliance (13.75 -0.01)

Co announced that on January 22, 2008, the Nasdaq Listing and Hearing Review Council determined to exercise its discretionary authority to grant Sterling an exception to demonstrate compliance with all of the Global Select Market continued listing requirements until March 24, 2008. If SLFI is not in compliance with the continued listing requirements by the close of business on March 24, 2008, SLFI’s common stock will be suspended at the opening of business on March 26, 2008. SLFI’s common stock will remain listed and will be traded on The Nasdaq Stock Market until at least March 26, 2008.
17:34 GLDD Great Lakes Dredging vessel sustains damage after being struck by tanker vessel (6.52 -0.21)

17:33 CR Crane beats by $0.08, beats on revs; guides FY08 EPS above consensus (36.46 +0.11)

Reports Q4 (Dec) earnings of $0.77 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.69; revenues rose 14.5% year/year to $666 mln vs the $659 mln consensus. Co issues upside guidance for FY08, sees EPS of $3.45-3.60 vs. $3.41 consensus. Co continues to see strong demand in Fluid Handling, which represents ~43% of sales, and expects demand to remain robust in its long-cycle Aerospace & Electronics segment. Both Merchandising Systems and Engineered Materials have been materially strengthened from acquisitions and they expected to continue to execute on key growth initiatives.
17:30 ABK AMBAC Fincl: JP Morgan files amended 13G filing disclosing increased 7.7% stake, up from prior stake of 5.4% (11.13 -0.41)

JPM discloses ownership of 7.8 mln shares, up from prior 5.8 mln share holding.
17:30 MRTN Marten Transport by $0.02 (13.99 +0.04)

Reports Q4 (Oct) earnings of $0.14 per share, $0.02 better than the First Call consensus of $0.12; revenues rose 10.0% year/year to $144.8 mln vs the $139.1 mln consensus. Co says, “Looking forward to 2008: We still expect industry-wide capacity to exceed demand at least into Q2 of 2008. In light of those general economic assumptions, our goal is to continue to maintain our rate structure by focusing on profitable freight and strong service performance, while we aggressively control our costs. We anticipate net capital expenditures of less than $15 mln in 2008, which is significantly below the level of net capital expenditures during the last several years due to the number of tractors paid-for but not placed in service as of Dec. 31, 2007.”
17:28 SNDK SanDisk guides FY08 rev growth at 15-25% which equates to $4.48-4.87 bln vs consensus of $4.817 bln (25.89 +0.27)

The stock is trading at $24.00 in after hours.
17:27 MKTIN Market Internals -Update-

The Dow was up 1.5% at 12384, the Nasdaq was up 1.0% to close at 2350, and the S&P was up 1.8% to close at 1354. Leading sectors included: Consumer Electronics +9.5%, Homebuilding +6.4%, Auto Retail +5.8%, Home Furnishings +5.5%, Coal and Consumable Fuels +5.1. Lagging sectors included: Restaurants -3.7%, Home Entertainment -2.2%, Internet Software and Services -1.8%, Internet Retail -1.5%, Trading Centers and Distributors -1.2%. Today’s movement came from higher than avg volume on the NYSE and lower than avg volume on the Nasdaq (NYSE 1639, vs. 1619 avg, Nasdaq 2074, vs. 2307 avg), with advancers outpacing decliners (NYSE advance/decline 2621/738, Nasdaq 1972/1036) with new lows outpacing new highs (NYSE new high/new low 22/81; Nasdaq 45/119).
17:26 AXP American Express on call noting they expect Q1 EPS below Q107 levels (47.40 ) -Update-

Reported $0.88 for Q107 while current Q108 consensus is for EPS of $0.85. Also mentioned they expect 2008 EPS to rise 4-6% y/y. Trading $46.01
17:24 SNDK SanDisk guides Q1 revs to $775-875 mln vs $1.01 bln First Call consensus on earnings call (25.89 +0.27)

Stock is trading at $23.50 in after hours
17:21 VMW VMware sees 2008 rev growth of 50%; this equates to 2008 revs of ~$1.99 bln vs $2.08 bln consensus (83.00 +2.45) -Update-

VMW is trading at 62.55 in after-hours.
17:16 LM Legg Mason’s board appoints Mark Fetting President and Chief Executive Officer (72.05 +2.09) -Update-

Co announced that the Board of Directors of LM announced that it has appointed Mark R. Fetting President and Chief Executive Officer and member of the Board of Directors, effective immediately. Raymond A. (”Chip”) Mason, Legg Mason’s co-founder and long-time Chairman, President and Chief Executive Officer, will serve as non-executive Chairman. Mr. Fetting, who joined LM in 2000, was most recently responsible for the firm’s worldwide mutual fund and managed account businesses as Senior Executive Vice President.
17:14 KBH KB Home notes in an 8-K they lowered credit pact to $1.3 bln from $1.5 bln (25.76 +2.11)

Co notes in an 8-K that on January 25, 2008, KBH entered into the fourth amendment (the “Fourth Amendment”) to the Revolving Loan Agreement dated as of November 22, 2005 among the Co, the banks party thereto, and Bank of America, N.A., as Administrative Agent, as amended (the “Revolving Loan Agreement”). The Fourth Amendment amends the minimum consolidated tangible net worth the Co is required to maintain under the Revolving Loan Agreement and reduces the aggregate commitment under the Revolving Loan Agreement from $1.5 bln to $1.3 bln.
17:08 GMO General Moly: Harbinger Capital reports 9.2% stake in GMO in SC 13G (9.94 -0.26)

17:07 ENDP Endo Pharm announces Peter Lankau resigns as President and CEO; co expects to meet or exceed guidance for 2007 (24.00 -0.71) -Update-

Co announces that Peter Lankau has resigned as President and Chief Executive Officer to pursue other interests. His resignation is effective March 1, 2008. Nancy Wysenski, Endo’s Chief Operating Officer, and Charles Rowland, Jr., Endo’s Executive Vice President, Chief Financial Officer and Treasurer, will assume day-to-day leadership responsibilities on an interim basis until a successor is appointed. Co also announced it expects to meet or exceed guidance for 2007. Note: Co’s previous guidance for FY07 was EPS $1.79-1.84 on revs of $1.05-1.075 bln (First Call consensus for FY07 is EPS of $1.79 and revs of $1.07 bln).
17:04 GGG Graco misses by $0.01, misses on revs’ co sees growth in sales and EPS over the next twelve months (34.81 +0.39)

Reports Q4 (Dec) earnings of $0.56 per share, $0.01 worse than the First Call consensus of $0.57; revenues rose 0.9% year/year to $205.2 mln vs the $208.1 mln consensus. GGG says “The challenging economic conditions in the U.S. are likely to remain with us in 2008, particularly in markets related to the housing industry. Sales activity outside of the Americas continues to be solid and we are cautiously optimistic that this will continue in 2008. In aggregate, we are planning for growth in sales, net earnings and earnings per share over the next twelve months.”
17:01 GGG says “in aggregate, we are planning for growth in sales, net earnings and EPS over the next twelve months”

17:01 ENDP expects to meet or exceed guidance for 2007

17:00 CHRT Chartered Semi secures additional financing for Fab 7 (5.63 +0.05)

The co announces that it has signed an agreement for a $190 mln term loan facility from Societe Generale. The loan is guaranteed by Atradius Dutch State Business NV and is to support the Phase 2 ramp of Fab 7, the company’s first 300-millimeter wafer fabrication facility.
17:00 HHS Harte-Hanks acquires UK-based digital marketing agency Mason Zimbler, terms not disclosed (15.12 +0.60)

17:00 ENDP announces Peter Lankau resigns as President and CEO

17:00 GGG prelim $0.56 vs $0.57 First Call consensus; revs $205.2 mln vs $208.06 mln First Call consensus

16:58 ICUI ICU Medical on call: guides FY08 revenue guidance below single estimate (37.08 +1.11) -Update-

Co expects 2008 revenue of $200 mln, including critical care, vs single analyst estimate of $205 mln…. co does not provide specific guidance but says Q1 will be its weakest qtr; expects 2008 to improve as co rolls out new products.
16:58 STLY Stanley Furniture beats by $0.12, beats on revs; guides Q1 EPS above consensus, revs below consensus; guides FY08 EPS above consensus, revs in-line (12.63 +0.39)

Reports Q4 (Dec) earnings of $0.03 per share, excluding non-recurring items, $0.12 better than the First Call consensus of ($0.09); revenues fell 5.4% year/year to $66.8 mln vs the $63.2 mln consensus. Co issues upside EPS guidance for Q1, sees EPS of $0.10-0.15, excluding non-recurring items, vs. $0.06 consensus; sees Q1 revs of $62-66 mln vs. $67.95 mln consensus. Co issues upside EPS guidance for FY08, sees EPS of $0.40-0.60, excluding non-recurring items, vs. $0.38 consensus; sees FY08 revs of $255-268 mln vs. $262.20 mln consensus.
16:55 AAPL Apple: Steve Jobs to Apple investors: ‘hang in there’ - AppleInsider (130.01 unch) -Update-

AppleInsider reports in a private communication last week, Apple CEO Steve Jobs acknowledged the beating his co’s shares have taken during this time of economic uncertainty, but remained confident that investors would again see rewards for their loyalty in the long run. “Wow… what a remarkable last few days,” he wrote in an email to employees, a copy of which was obtained by AppleInsider. “Our stock is being buffeted around by factors a lot larger than ourselves.” The Apple co-founder expressed sadness for many of the co’s investors who may have seen their investments fall under water, but encouraged those with positions to put the matter into perspective by examining the performance of Apple shares over the past 24 months. As you can see, we have outperformed many other blue-chip tech companies, including Google,” he wrote, tacking on a stock performance comparison chart for illustration. “I continue to believe that our fundamentals - our remarkable people, our clear and focused strategy, our new product pipeline, our 200+ retail stores, our $18 billion of cash in the bank with no debt, etc., will serve us well in the coming months and years.” In closing his email to employees, Jobs remained upbeat, reiterating confidence that those who remain loyal to their positions in Apple will inevitably come out on top. “I believe that investors who stay with us will be rewarded as the market’s confidence is restored over time,” he wrote. “Hang in there.”
16:54 STLY sees FY08 $0.40-0.60 vs $0.38 First Call consensus; sees revs $255-268 mln vs $262.20 mln First Call consensus

16:54 STLY sees Q1 $0.10-0.15 vs $0.06 First Call consensus; sees revs $62-66 mln vs $67.95 mln First Call consensus

16:53 STLY prelim $0.48, incl items, may not be comparable to ($0.09) First Call consensus; revs $66.8 mln vs $63.24 mln First Call consensus

16:38 MSPD Mindspeed reports EPS in-line, revs in-line; guides Q2 revs below consensus (0.88 +0.02)

Reports Q1 (Dec) non-GAAP earnings of $0.01 per share, in-line with the First Call consensus of $0.01; revenues rose 4.7% year/year to $35.3 mln vs the $35.2 mln consensus. Co issues downside guidance for Q2, sees Q2 revs of $34.2-36.4 mln vs. $36.83 mln consensus. The co expects second quarter non-GAAP gross margin to be approximately 70% and non-GAAP operating expenses to be approximately $23.7 mln, with continued positive non-GAAP operating income and positive non-GAAP cash flow.
16:38 SEPR also announced today that it is conducting a review of its government price reporting

16:37 HMX Hartmarx reports EPS in-line, revs in-line; guides Q1 EPS in-line, revs in-line; guides FY08 EPS in-line, revs in-line (2.29 +0.0

Reports Q4 (Nov) loss of $0.19 per share, in-line with the First Call consensus of ($0.19); revenues fell 7.5% year/year to $151.2 mln vs the $150.1 mln consensus. Co issues in-line guidance for Q1, sees EPS of roughly ($0.09) vs. ($0.10) consensus; sees Q1 revs of $120 mln vs. $120.50 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.30-0.40 vs. $0.31 consensus; sees FY08 revs of $580-600 mln vs. $581.21 mln consensus.
16:37 SEPR Sepracor confirms it acquires exclusive U.S. rights to Nycomed’s ALVESCO HFA and OMNARIS AQ Products (28.37 +0.74) -Update-

The co and Nycomed confirms an exclusive development, marketing and commercialization agreement for ciclesonide in the United States. Ciclesonide, Nycomed’s proprietary corticosteroid, has a unique activation mechanism and is the active ingredient in ALVESCO HFA Inhalation Aerosol MDI for the treatment of asthma and in OMNARIS AQ Nasal Spray for the treatment of allergic rhinitis. The broad ciclesonide franchise complements Sepracor’s respiratory portfolio and further leverages the co’s commercial infrastructure with both OMNARIS AQ and ALVESCO HFA projected to be launched in 2008. The co expects to launch OMNARIS AQ during the 2008 spring allergy season and ALVESCO HFA in the second half of 2008. The co has obtained development rights to several line extensions, which have the potential to broaden the ciclesonide and current Sepracor respiratory franchises. These programs include OMNARIS HFA MDI, a Phase II candidate; ALVESCO inhalation solution, a preclinical candidate; and ALVESCO in combination with a long-acting beta-agonist, an early clinical candidate. Nycomed will receive an upfront payment of $150 mln and may become entitled to receive subsequent payments of up to $280 mln over the life of the agreement upon accomplishment of various development and sales milestones. The co also announced that it is conducting a review of its government price reporting. On January 17, 2008, Sepracor notified the Centers for Medicare and Medicaid Services that the co has identified potential errors in its Medicaid Best Price, including the exclusion of transactions involving the Pennsylvania General Assistance Program from its calculation of Best Price, for products reimbursed under the Medicaid Drug Rebate Program. Despite the co’s review of available materials, it remains unclear whether PAGA, a State Pharmacy Assistance Program, is excludable for the purposes of calculating Best Price for the affected periods. If these PAGA transactions had been included in the calculation, they potentially would have set Best Price for some previously reported calendar quarters.
16:36 SSCC Smurfit-Stone beats by $0.01, misses on revs (8.49 -0.34)

Reports Q4 (Dec) earnings of $0.09 per share, ex-items, $0.01 better than the First Call consensus of $0.08; revenues rose 1.1% year/year to $1.8 bln vs the $1.87 bln consensus. Co states, “Higher average prices and incremental benefits from the company’s strategic initiatives program should drive higher year-over-year adjusted net income in the first quarter and full year 2008, despite a slowing US economy. Seasonal factors will drive sequentially lower first quarter profits due to higher energy usage and timing issues contributing to additional employee benefit costs.
16:35 MTH Meritage misses by $1.39, beats on revs (11.68 +0.84)

Reports Q4 (Dec) loss of $4.91 per share, includes $130 mln of pre-tax real estate-related and joint venture valuation adjustments, $58 mln of pre-tax goodwill write-offs, $11 mln non-cash pre-tax charge for the acceleration of expenses related to the cancellation of employee stock options in connection with a tender offer, and a $3 mln impairment of golf course assets held for sale, $1.39 worse than the First Call consensus of ($3.52); revenues fell 24.6% year/year to $618.9 mln vs the $610 mln consensus.
16:34 VMW VMware beats by $0.02, misses on revs; co will provide 2008 guidance in their conf call today (83.00 +2.45)

Reports Q4 (Dec) earnings of $0.26 per share, includes a $0.01 tax benefit, $0.02 better than the First Call consensus of $0.24; revenues rose 79.7% year/year to $412.5 mln vs the $417.4 mln consensus. Co reported non-GAAP operating margins of 26.2% vs ~26% street expectation and 25.4% in the prior quarter. VMW plans to host a conf call today to review its Q4 and full-year financial results and provide forward-looking guidance for 2008.
16:33 NARA Nara Bancorp beats by $0.01; guides FY08 EPS below consensus (12.37 +0.2

Reports Q4 (Dec) earnings of $0.32 per share, $0.01 better than the First Call consensus of $0.31. Co issues downside guidance for FY08, sees EPS of 1.11-1.15 vs. $1.22 consensus… “We believe that the economic and interest rate environment will continue to present significant challenges in 2008. Our strategic priorities in 2008 include enhancing our balance sheet flexibility by more closely matching asset and deposit growth, tightly controlling expenses, aggressively managing the loan portfolio to minimize credit losses, and maintaining our strong capital position. We believe that our success in these areas will allow the Bank to prosper when economic conditions become more favorable.”
16:33 NXG Northgate Minerals say it had gold production of 41,467 ounces in Q4 bringing total 2007 production to 245,631 ounces (2.89 -0.01)

Co reports its fourth quarter 2007 operating results and 2008 production forecast. Co reports quarterly gold production of 41,467 ounces bringing total 2007 production to 245,631 ounces, quarterly copper production of 16.8 mln pounds bringing total 2007 production to 68.1 mln pounds and quarterly gold net cash cost of $48 per ounce bringing annual net cash cost to negative $16 per ounce of gold for all of 2007.
16:33 EWBC East West Banc reports Q4 EPS of $0.59 vs $0.63 First Call consensus (24.89 +1.23)

Co sees FY08 EPS of $2.05-2.10 vs $2.52 consensus
16:32 SSCC prelim $0.09 vs $0.08 First Call consensus; revs $1.84 mln vs $1.88 bln First Call consensus

16:32 SCMF Southern Community Finl hires new CFO and Executive Vice President James Hastings (6.94 )

16:31 NARA sees FY08 $1.11-1.15 vs $1.22 First Call consensus

16:31 MSPD sees Q2 revs $34.2-36.4 mln vs $36.83 mln First Call consensus

16:31 NARA prelim $0.32 vs $0.31 First Call consensus

16:30 NPSP NPS Pharm provides update on Gattex clinical development in short bowel syndrome (4.19 +0.01)

Co announces it expects to begin a confirmatory Phase 3 clinical study to evaluate Gattex in patients with short bowel syndrome who are dependent on parenteral nutrition. At a recent meeting with the U.S. Food and Drug Administration to discuss the regulatory requirements for the development of Gattex, the FDA recommended that NPSP conduct a confirmatory Phase 3 study prior to submitting a new drug application. NPSP is finalizing a protocol for the confirmatory Phase 3 study to address the FDA’s comments and incorporate results from the ongoing Phase 3 extension study that will be available later this quarter.
16:30 MSPD prelim $0.01 vs $0.01 First Call consensus; revs $35.3 mln vs $35.20 mln First Call consensus

16:30 MTH prelim ($4.91) vs ($3.52) First Call consensus; revs $618.9 mln vs $609.98 mln First Call consensus

16:29 VMW non-GAAP EPS of $0.26 includes a $0.01 tax benefit, vs $0.24 First Call consensus

16:28 VMW prelim $0.26 vs $0.24 First Call consensus; revs $412 mln vs $417.37 mln First Call consensus

16:27 ALB Albemarle beats by $0.01 (39.09 +1.79)

Reports Q4 (Dec) earnings of $0.60 per share, $0.01 better than the First Call consensus of $0.59; revenues rose 2.5% year/year to $599.2 mln vs the $611.2 mln consensus. Co said, “The first weeks of 2008 have been solid for our business, and we have not experienced any material weakness that might be attributed to the risk in the U.S. and global economic outlooks. Our business serves many diverse end markets and we expect continued Asian and Middle East growth to compensate for slower market growth in the U.S. We are continuing to increase our presence in China with expansions underway that will help us grow flame retardants, antioxidants and fine chemicals in 2008. Absent a major global recession, we expect oil demand to remain strong and we have the catalyst production capacity on line to meet this growth in demand for 2008 and 2009. While our general business conditions are not indicating an economic slowdown, we continue to see dramatic inflation in raw materials and energy. Passing these costs through remains a challenge and area of focus for Albemarle.”
16:26 C Citigroup: CEO Latin America & Mexico bought 185K shares at $26.99-27.04 (27.65 +1.01)

16:25 ALB prelim $0.60 vs $0.59 First Call consensus; revs $599.15 mln vs $611.16 mln First Call consensus

16:24 PRK Park National beats by $0.11 (63.75 +3.20)

Reports Q4 (Oct) earnings of $0.77 per share, excluding $54 mln charge, $0.11 better than the First Call single-analyst est of $0.66.
16:24 LM Legg Mason to promote Mark Fetting to CEP, people familiar say- Bloomberg (72.05 +2.09)

Legg Mason’s Fetting to replace Raymond Mason
16:23 SEPR Sepracor: Nycomed’s Ciclesonide to be commercialized in the United States by Sepracor (28.73 +0.74)

The co announces Nycomed has granted Sepracor the exclusive development, marketing and commercialization rights for Ciclesonide in the United States. Ciclesonide is Nycomed’s patented corticosteroid with a novel principle of action. It is the active ingredient in the ALVESCO Inhalation Aerosol for the treatment of asthma and in the Omnaris Nasal Spray for the treatment of allergic rhinitis. The agreement complements Sepracor’s respiratory portfolio and is a boost to Nycomed’s partnering approach for the United States… Sepracor will gain exclusive rights for Ciclesonide in the United States. Sepracor expects to launch Omnaris in the 2008 spring allergy season and ALVESCO in the second half of 2008. Sepracor will not only commercialize the approved products ALVESCO and Omnaris, but plans to develop line extensions and additional products broadening the Ciclesonide and current Sepracor respiratory franchise. Nycomed will receive an upfront payment of $150 mln and subsequent payments upon accomplishment of various development and sales milestones, which could include up to an additional $280 mln over the life of the agreement if all milestones are met. Nycomed will also receive compensation for providing finished product and royalties on sales of Ciclesonide products.
16:21 KFN KKR Financial misses by $0.02 (14.38 +0.20)

Reports Q4 (Dec) earnings of $0.52 per share, $0.02 worse than the First Call consensus of $0.54.
16:21 Equity markets post strong gains across the board

Stocks & stock indices posted sharp gains a day before the FOMC begins their two day meeting regarding the fate of U.S. interest rates. For most of the session, the markets were firm in sideways trade until about 3:40p.m. Est when posted NYSE order imbalances were biased to the buy side, propelling the averages to hit fresh session highs & subsequently settle at or near the day’s best levels. The markets got off to a decent start, only to be sold-off after a dismal Dec. New Home Sales report showing it’s lowest monthly sales figure since Feb ‘95. However, both the Financials and Homebuilders showed relative strength leading the market steadily higher throughout the morning & early afternoon. Possibly adding to the late afternoon move higher was some position adjustment from trader’s & investors before President Bush’s final State of the Union Address to the nation this evening. Unofficially, the INDU settled @ 12383 +176, SPX @ 1353 +23, COMPQ @ 2350 +23.75, & RUT @ 702 +13.75. Sector strength was seen in Homebuilders (XHB +6.8%), Retailers (XRT +4.8%), Coal (KOL +4.1%), Real Estate (IYR +3.7%), & Regional Banks/Financials (RKH +3.6%, XLF +3.5%). Sector weakness was seen in Internet (HHH -1.1%), & Software (SWH -0.30%).
16:20 CNW Con-way beats by $0.06, beats on revs; guides FY08 EPS below consensus (43.95 -0.95)

Reports Q4 (Dec) earnings of $0.88 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.82; revenues rose 20.2% year/year to $1.2 bln vs the $1.14 bln consensus. Co issues downside guidance for FY08, sees EPS of $3.40-3.80 vs. $3.85 consensus.
16:19 AXP American Express reports EPS in-line, misses on revs (47.40 +1.96)

Reports Q4 (Dec) earnings of $0.71 per share, in-line with the First Call consensus of $0.71; revenues rose 10.9% year/year to $7.4 bln vs the $7.85 bln consensus. Co also says “Despite the Dec weakness that we discussed a few weeks ago, Q4 business volumes and credit indicators continued to be in the top tier of the industry. Marketing and related investments remained focused on premium segments of the market. Each of our customer groups and geographic regions contributed to the 16% increase in Cardmember spending… The fourth-quarter additions to reserves were appropriate for an environment that is more difficult than we have seen in recent years. While our outlook for 2008 remains cautious, and we continue to expect slower earnings growth in the year ahead, we are not changing our fundamental approach to managing the business. We expect to take advantage of growth opportunities in those parts of the market with strong underlying economics… we are not immune from further deterioration in the economic and credit environment, but we believe our focus on the premium sector should help us to weather the current conditions better than many competitors… We also remain confident in our ability, on average and over time, to meet our long-standing financial targets of 12 to 15% EPS growth, at least 8% rev growth and a return on equity of 33 to 36%.”
16:18 PCL Plum Creek reports EPS in-line, beats on revs; guides Q1 below consensus (43.39 +1.75)

Reports Q4 (Dec) earnings of $0.43 per share, excluding non-recurring items, in-line with the First Call consensus of $0.43; revenues rose 33.0% year/year to $504 mln vs the $414.7 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.26-0.31 vs. $0.34 consensus.
16:18 CNW sees FY08 $3.40-3.80 vs $3.85 First Call consensus

16:17 WMT Wal-Mart and SunEdison activate Solar power system in Honolulu (48.48 +0.62)

WMT and SunEdison announce the completion of the first of four solar power systems in Hawaii as part of a previously announced pilot program on the islands.
16:17 CNW prelim $0.88 vs $0.82 First Call consensus; revs $1.2 bln vs $1.14 bln First Call consensus

16:17 ACTS Action Semi beats by $0.01, misses on revs; guides Q1 EPS below consensus, revs below consensus (3.35 -0.09)

Reports Q4 (Dec) earnings of $0.16 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.15; revenues fell 34.7% year/year to $32.3 mln vs the $33.1 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.06-0.08 vs. $0.12 consensus; sees Q1 revs of $20-23 mln vs. $27.60 mln consensus.
16:16 AXP remains confident in ability, on average and over time, to meet long-standing financial targets of 12-15% EPS growth, at least 8% revenue growth

16:16 ACTS sees Q1 $0.06-0.08 vs $0.12 First Call consensus; sees revs $20-23 mln vs $27.60 mln First Call consensus

16:15 AXP says outlook for 2008 remains cautious, and they continue to expect slower earnings growth in the year ahead

16:15 ACTS prelim $0.16 vs $0.15 First Call consensus; revs $32.3 mln vs $33.12 mln First Call consensus

16:15 LEN Lennar declares a quarterly cash dividend of $0.16/share for Class A and B common stock (18.50 +1.52)

16:14 KFN prelim $0.52 vs $0.54 First Call consensus;undefined

16:14 VLTR Volterra Semi beats by $0.01, reports revs in-line (8.81 +0.81)

Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.08; revenues fell 6.9% year/year to $19.8 mln vs the $19.6 mln consensus. VLTR announces additional $10 million buyback.
16:13 ZRAN Zoran beats by $0.02, misses on revs; guides Q1 EPS below consensus, revs below consensus (15.03 +0.15)

Reports Q4 (Dec) earnings of $0.34 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.32; revenues rose 34.4% year/year to $129.4 mln vs the $130.8 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.05-$0.09, excluding non-recurring items, vs. $0.24 consensus; sees Q1 revs of $104-$109 vs. $122.35 mln consensus. Sees gross margins in the range of 50-51%. Zoran will provide more commentary on its first quarter results during the quarterly conference call.
16:12 AXP prelim $0.71 vs $0.71 First Call consensus; revs $7.4 bln vs $7.85 bln First Call consensus

16:12 RBI Sport Supply Group comments on recent stock volatility; Announces $10 million share buyback plan (10.22 +1.47) -Update-

The co comments “Many investors have asked us about recent increases in the trading range, volumes, and short interest associated with the co’s stock… We have just recently gained a greater insight into what we believe to be the factors affecting our stock, and we wish to use this press release to discuss our perspective with our investors as well as raise awareness of these issues for all market participants. It has come to our attention that, beginning in December 2007, Sport Supply Group was included as one of just 58 members of the S&P Retail Select Industry Index… suddenly began to affect our shares when RBI was included in the index, and that since much of the investment community was apparently positioned ’short’ this index and its components, they are now shorting our shares in a fashion completely removed from any fundamental developments at our co. We recognize that this situation is unlikely to continue forever, and at some point we believe the forces which are leading market participants to short companies related to this index may eventually reverse and cause the very same traders to cover their short exposures, and repurchase shares in the very stocks they had been shorting… Also, we are pleased that our Board has approved a $10 mln share buyback plan…”
16:11 EEP Enbridge Energy reports Q4 EPS of $0.74 vs $0.74 First Call consensus (50.10 -0.40)

Co reports Q4 EPS of $0.74 vs $0.74 First Call consensus. The co estimates that its adjusted operating income will increase to between $490 and $520 mln in 2008 and that depreciation will be between $220 and $230 mln. Adjusted net income is estimated to increase to between $310 and $340 mln for the year. For 2008, estimated capital expenditures total approximately $1.4 bln. This includes ongoing construction of the Southern Access Expansion ($575 mln), start of construction for the Alberta Clipper Program ($215 mln), other system enhancements ($540 mln) and core maintenance activities ($70 mln).
16:11 CLMS Calamos Asset beats by $0.02, reports revs in-line (22.01 +1.67)

Reports Q4 (Dec) earnings of $0.42 per share, $0.02 better than the First Call consensus of $0.40; revenues rose 2.4% year/year to $124.5 mln vs the $124.3 mln consensus.
16:10 ARG Airgas beats by $0.02, reports revs in-line; guides Q4 EPS above consensus (42.89 +0.94)

Reports Q3 (Dec) earnings of $0.67 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.65; revenues rose 28.0% year/year to $1.01 bln vs the $1 bln consensus. Co issues upside guidance for Q4, sees EPS of $0.72-0.74, excluding non-recurring items, vs. $0.71 consensus.
16:10 SNDK SanDisk beats by $0.05, ex items (25.89 )

Reports Q4 (Dec) earnings of $0.69 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.64; revenues rose 7.1% year/year to $1.25 bln vs the $1.27 bln consensus. Co reports Non-GAAP gross margins 37.0% vs 34.1% street expectation, Non-GAAP product gross margins 29.7% vs 26.4% prior quarter. Co said, “Despite current uncertainties in the worldwide economy and a challenging industry pricing environment in the first quarter, we expect to grow our top and bottom line in 2008, driven by continuing strength in our mobile markets, our expanding international retail footprint and our competitive cost structure.”
16:10 AMLN Amylin Pharms misses by $0.13, beats on revs; reports drug revs above expectations (32.71 +0.25)

Reports Q4 (Dec) loss of $0.57 per share, $0.13 worse than the First Call consensus of ($0.44); revenues rose 35.9% year/year to $222 mln vs the $202.6 mln consensus. Co reports 4Q07 Byetta revs of $176.3 mln vs. $166.63 mln Street Expectation and 4Q07 Symlin revs of $18.4 mln vs. $16.19 mln Street Expectation. Revenue under collaborative agreements were $27.3 million for the quarter ended December 31, 2007, compared to $12.8 million for the same period in 2006. The increase reflects higher cost-sharing payments from Lilly and Company to equalize development expenses for BYETTA and exenatide once weekly. The Company’s results for quarter ended December 31, 2007 includes $17 million in full year non-cash expense associated with the adoption of an ESOP of which $10 million is included in selling, general and administrative expenses and $7 million is included in research and development expenses. The adoption of the ESOP represents a change in the composition of the Company’s equity compensation.
16:10 ATHR Atheros Communications beats by $0.06, reports revs in-line (28.85 +1.07)

Reports Q4 (Dec) earnings of $0.36 per share, $0.06 better than the First Call consensus of $0.30; revenues rose 7.5% year/year to $114.3 mln vs the $113.9 mln consensus. Non-GAAP gross margins in Q4 were 52.3%, compared with 47.6% in 4Q06. “We entered the large and rapidly growing GPS market in Q4 with the acquisition of u-Nav Microelectronics. This acquisition gives us yet another opportunity to expand the size of our addressable markets in 2008,” co states.

16:09 IPAR Inter Parfums reports upside Q4 guidance; reaffirms Y08 guidance (15.52 +0.42)

Co issues upside guidance for Q4 (Dec), sees Q4 (Dec) revs of approx $119.2 mln vs. $107.60 mln First Call consensus. Co issues upside guidance for FY07 (Dec), sees EPS of $1.06-1.08 vs. $1.04 consensus. Co reaffirms guidance for FY08 (Dec), sees EPS of $1.16 vs. $1.16 consensus; sees FY08 (Dec) revs of $437 mln vs. $438.80 mln consensus. Co cites Q4 sales growth came in better than expected and further benefited from favorable foreign currency exchange rates.
16:08 ARG sees Q4 $0.72-0.74, ex items, vs $0.71 First Call consensus

16:07 AGO Assured Guaranty: SAC Capital discloses 5.4% stake in SC 13G (22.47 +1.01)

16:07 VLTR announces additional $10 million buyback

16:07 VLTR prelim $0.09 vs $0.08 First Call consensus; revs $19.8 mln vs $19.61 mln First Call consensus

16:06 JDAS JDA Software beats by $0.01, beats on revs (18.20 +0.66)

Reports Q4 (Dec) earnings of $0.35 per share, $0.01 better than the First Call consensus of $0.34; revenues rose 11.1% year/year to $98.5 mln vs the $92.1 mln consensus. “Our strong performance in fourth quarter 2007 provided the perfect finish to a record year for JDA. In fact, we saw double-digit revenue growth in FY2007, representing a nearly $100 million increase over 2006, along with a $27 million increase in GAAP earnings,” said JDA CEO Hamish Brewer. “Software sales grew 50% in 2007 over 2006, and in the fourth quarter all three regions delivered both year-over-year and quarter-over-quarter sales growth; business is humming at JDA.”
16:06 ZRAN sees Q1 $0.05-0.09 vs $0.24 First Call consensus; sees revs $104-109 mln vs $122.35 mln First Call consensus

16:06 RBI Sport Supply Group beats by $0.03, raises FY08 EPS guidance (10.22 +1.47)

The Co reported record second quarter profit of $.04 per diluted share (vs $0.01 First Call consensus) compared to a loss of ($.09) for the prior year’s comparative period; revs $54 mln vs $53.30 mln First Call consensus. The Co announced it was increasing earnings guidance for FY08 from a range of $0.60 - $0.70 to $0.65 - $0.73 per diluted share ($0.68 First Call consensus).
16:06 IPAR reaffirms Y08 EPS of $1.16 with revs of $437 mln

16:06 ATHR prelim $0.36 vs $0.30 First Call consensus; revs $114.3 mln vs $113.87 mln First Call consensus

16:06 IPAR sees Y07 EPS guidance to $1.06-1.08 vs $1.04 consensus

16:06 ARG prelim $0.65 vs $0.65 First Call consensus; revs $1 bln vs $1.00 bln First Call consensus

16:06 CLMS prelim $0.42 vs $0.40 First Call consensus; revs $124.5 mln vs $124.3 mln First Call consensus

16:05 AMLN prelim ($0.57) vs ($0.44) First Call consensus; revs $222.0 mln vs $202.58 mln First Call consensus

16:05 IPAR sees Q4 revs of approx $119.2 mln vs $107.6 mln consensus

16:05 ZRAN prelim $0.34 vs $0.32 First Call consensus; revs $129.4 mln vs $130.83 mln First Call consensus

16:05 SNDK prelim $0.69, ex items vs $0.64 First Call consensus; revs $1.25 bln vs $1.27 bln First Call consensus

16:05 SSRX 3SBIO announces appointment of Kevin Sow Peng Teo as Chief Financial Officer (11.60 -0.33)

Co announced the appointment of Kevin Teo to the position of Chief Financial Officer effective January 28, 2008. Teo will replace Clara Mak, who is resigning for personal reasons. To assist with the transition, Mak will stay on with the co until February 29, 2008.
16:04 UNM UNUMProvident beats by $0.05, misses on revs; reaffirms FY08 EPS in-line (20.50 -0.0

Reports Q4 (Dec) earnings of $0.59 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.54; revenues fell 2.0% year/year to $2.64 bln vs the $2.71 bln consensus. Co reaffirms in-line guidance for FY08, sees EPS of $2.35-2.40 vs. $2.36 consensus. Co says, “UNM has completed the claim reassessment process, as required by the regulatory settlement agreements. Since September 30, 2007, the final 256 claims were reviewed with an overturn rate of 66%. The final examination under the multistate regulatory settlement agreement is anticipated to be completed by mid-year 2008.
16:04 ICUI ICU Medical slightly beats single analyst estimate (37.08 +1.11)

Reports Q4 (Dec) earnings of $0.41 per share, $0.01 better than the single analyst estimate of $0.40; revenues fell 13.7% year/year to $45.5 mln vs the single analyst est of $45.1 mln.
16:03 Bush to propose in State of the Union speech $2 bln over 3 years to fund clean energy - Bloomberg

16:03 PLXT PLX Tech misses by $0.04, reports revs in-line; guides Q1 revs in-line (7.57 +0.03)

Reports Q4 (Dec) earnings of $0.02 per share, $0.04 worse than the First Call consensus of $0.06; revenues rose 5.2% year/year to $22.1 mln vs the $22 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $22-23 mln vs. $22.90 mln consensus; co sees Q1 gross margins approx 43%
16:03 MER Merrill Lynch confirms Ahmass Fakahany to retire from Merrill Lynch (57.33 +2.37) -Update-

Co confirms that Ahmass Fakahany, co-president and chief operating officer, has informed the company of his decision to retire and will leave his current role, effective February 1.
16:02 RBI guides FY08 EPS to $0.65-0.73 vs $0.68 First Call consensus

16:02 GOLF Golfsmith receives Nasdaq staff deficiency letter regarding audit committee requirements (3.81 +0.41)

Co announces that on 1/23 it received a Nasdaq Staff Deficiency Letter indicating that it no longer complies with the Nasdaq audit committee requirement for continued listing as set forth in Marketplace Rule 4350, which requires a listed company to have an audit committee of at least three independent directors. Consistent with this Rule, Nasdaq provided the Company with a cure period until July 7, 2008 in order to regain compliance. On January 9, 2008, Martin Hanaka, the co’s Chairman, was appointed as its interim Chief Executive Officer. Upon taking this position, Mr. Hanaka stepped down as a member of the Audit Committee in order to comply with the audit committee independence requirement as set forth in NASDAQ Marketplace Rule 4350, leaving two directors on that Committee. The co expects to fill the vacancy created by Mr. Hanaka’s resignation from the Audit Committee prior to July 7, 2008.
16:01 PLXT sees Q1 revs $22-23 mln vs $22.90 mln First Call consensus

16:01 JDAS prelim $0.35, ex items vs $0.34 First Call consensus; revs $98.46 mln vs $92.07 mln First Call consensus

16:01 ICUI prelim $0.41 vs single analyst estimate of $0.40; revs $45.5 mln vs single est of $45.1 mln

16:01 UNM reaffirms FY08 $2.35-2.40 vs $2.36 First Call consensus

16:01 SRDX SurModics expands license agreement with Merck (46.82 -0.37)

Co announces that Merck (MRK) has exercised an option to develop and commercialize an additional Merck proprietary investigational compound using SurModics’ I-vation sustained drug delivery system under the License and Research Collaboration Agreement signed by the companies in June 2007. Consistent with the terms of the previously signed agreement, Merck will lead and fund development and commercialization activities. SurModics will receive a licensing fee and payment for its development activities. In addition, SurModics will be eligible to receive development milestones associated with the successful development and attainment of appropriate U.S. and EU regulatory approvals in connection with a candidate compound. SurModics will be responsible for the manufacture and supply of clinical and commercial products. SurModics will also receive royalties on product sales.
16:01 PHTN Photon Dynamics announces CFO resignation (8.05 +0.14)

Co announces that Michael Schradle, the co’s chief financial officer, will transition from the co in accordance with the transition agreement entered on December 6, 2007. His resignation was effective January 24, 2008, following the completion of the restatement and the filing of the Company’s fiscal 2007 Form 10-K. Pursuant to the transition agreement, Mr. Schradle will act as a consultant to the Company.
16:01 PLXT prelim $0.02 vs $0.06 First Call consensus; revs $22.1 mln vs $22.02 mln First Call consensus

16:01 RBI prelim $0.04 vs $0.01 First Call consensus; revs $54 mln vs $53.30 mln First Call consensus

16:00 UNM prelim $0.59 vs $0.54 First Call consensus; revs $2.64 bln vs $2.71 bln First Call consensus

16:00 VIVO Meridian Bioscience promotes John Kraeutler to Chief Executive Officer, William Motto moves to Executive Chairman (33.09 +0.49)