Movers: Citigroup, Google, Capital One, Honeywell, Caterpillar

Friday's stocks in the news

From Standard & Poor's Equity Research

Citigroup (C) posts $1.02 first quarter loss per share, vs. $1.01 EPS a year ago, on 48% revenue drop. Notes significant write-downs in sub-prime related direct exposures in fixed income markets, highly leveraged finance commitments. Citigroup recorded writedowns and credit costs of $6 billion, which is sharply lower than recent market speculation of writedowns of up to $22 billion.

Google (GOOG) posts $4.84 first quarter EPS, vs. $4.43 EPS in the fourth quarter 2007, on 7% sequential revenue rise. Revenue rose 42% year-over-year. Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of its AdSense partners, increased approximately 20% over first quarter 2007. Expects to continue to make significant capital expenditures. Jefferies upgrades to buy from hold.

Capital One Financial (COF) posts $1.47, vs. $1.62 a year ago, first quarter EPS (including items) as more money set aside for credit losses, other factors offset 14% revenue rise. S&P maintains sell.

Honeywell International (HON) posts $0.85. vs. $0.66 a year ago, first quarter EPS on 11% revenue rise. It raises 2008 sales guidance by $700 million to $36.8-$37.4 billion, moves EPS guidance to $3.70-$3.80, the high end of its previously stated range.

SanDisk (SNDK) posts $0.21, vs. $0.19 a year ago, first quarter non-GAAP EPS on 8% revenue rise. Says pricing was challenging throughout the quarter due to industry-wide excess supply which hurt product gross margin. Sees second quarter revenue of $875-$950 million, which is seen ahead of current Street views.

Macrovision (MVSN) announces preliminary pro forma combined results for first quarter, as if the Gemstar-TV Guide acquisition were consummated Jan. 1, 2008. Sees $150-$154 million first quarter revenue, $36-$40 million adjusted first quarter EBITDA, excluding synergies. Sees $650-$700 million 2008 revenue, $230-$270 million adjusted EBITDA.

Xerox (XRX) posts $0.27 first quarter adjusted EPS, vs. $0.24 EPS, on 13% revenue rise. Current quarter excludes $0.54 litigation charge. Sees $0.23-$0.25 second quarter EPS (including restructuring charge).

Schlumberger (SLB) posts lower-than-expected $1.09, vs. $0.96 a year ago, first quarter EPS on 15% revenue rise.

Caterpillar (CAT) posts $1.45, vs. $1.23 a year ago, first quarter EPS on 18% revenue rise. Continues to expect another record year with sales and revenues increasing 5%-10% and EPS increasing 5%-15% from 2007 despite further weakening in North America.

E*Trade Financial (ETFC) posts $0.20 first quarter loss, vs. $0.39 EPS a year ago, on 51% revenue decline. Recorded provision expense of $234 million. First quarter customer engagement trends showed further improvement over the prior quarter, demonstrating progress of ETFC's Turnaround Plan. S&P maintains sell. Goldman ups target to $4.

GFI Group (GFIG) confirms resignation of Donald Fewer, formerly its head of North American Credit Product brokerage. Says it believes Mr. Fewer's departure is part of a concerted effort by one of its competitors to raid GFI's highly successful North American credit product brokerage business by hiring members of GFI's New York credit brokerage staff.

MF Global Ltd. (MF) sees $55-$65 million fourth quarter pre-tax GAAP loss. Says total volume for the fourth quarter is expected to be between 590-600 million lots, an increase of about 37%-39% year-over-year, net revenues are expected to be in the range of $440-$460 million. Says despite very challenging circumstances this quarter, it is pleased that volumes, revenue remained strong and exceeded levels set in the previous three quarters.

Overstock.com (OSTK) posts $0.17 first quarter loss, vs. $0.91 loss (including charges), on 27% revenue rise. Posts $3.5 million first quarter EBITDA vs. $8.3 million EBITDA loss.

Intuitive Surgical (ISRG ) posts $1.12, vs. $0.62, first quarter EPS on 65% revenue rise. S&P says lower EPS upside vs. recent quarters likely pressuring stock today, maintains buy. Oppenheimer cuts estimates.

PMC-Sierra (PMCS) posts $0.11, vs. $0.09 a year ago, first quarter non-GAAP EPS on 21% revenue rise. Street consensus was $0.08.

Mohawk Industries (MHK) posts better-than-expected $0.95, vs. $1.32, first quarter EPS on 6.7% sales decline. Street consensus was $0.90. Sees second quarter EPS of $1.36-$1.45.

Ruby Tuesday (RT) stock fell about 5% yesterday before co. announced, minutes before closing bell, that while it has agreed in principal on terms of amendments to its Revolving Credit Agreement and Private Placement Notes, final documentation of amendments will take addl time to complete. It is expected that the documentation of amendments will be completed within the next several weeks.