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Get Four
|  | DECEMBER 10, 2004 04:37 PM
 MARKET MOVERS GE Gains After Hiking Dividend Delphi declines after job cuts; Motorola falls on Bear Stearns warning; plus more of Friday's stocks in the news General Electric (GE ) raised its quarterly dividend by 10%. The company also set a $15 billion stock buyback. Motorola (MOT ) fell amid reports that Bear Stearns believes a Nextel(NXTL )-Sprint(FON ) merger would be negative for Motorola. Delphi (DPH ) cut its fourth-quarter revenue forecast by $200 million to $6.9 billion to $7.0 billion due to low production volumes and higher commodity prices. The company sees a fourth-quarter GAAP net loss of $123 million to $143 million. It sees $28.5 billion to $29 billion in 2005 revenue, and a $359 million GAAP net loss. The company will cut 8,500 jobs. CIBC World raised its Sirius Satellite (SIRI ) target price and reiterated a sector outperform rating. Banc of America initiates Hovnanian Enterprises (HOV ) at buy. St. Paul Travelers (STA ) received a subpoena from the New York Attorney General seeking information relating to the underwriting of lawyers' professional liability insurance. Software company Autodesk (ADSK ) set an additional 24 million share buyback. It says the primary purpose of increase is to offset the dilutive impact of employee stock option grants. Activision (ATVI ) says November sales of its console and handheld for October and November combined increased 27% to $114 million, vs. $90 million last year, according to NPD Funworld. Sales were driven by Tony Hawk's Underground 2 and X-Men Legends. Shuffle Master (SHFL ) posted 27 cents, vs. 21 cents, fourth-quarter earnings per share from continuing operations on a 48% revenue rise. The company set a 3-for-2 stock split. It sees 21 cents to 23 cents first-quarter earnings per share, and $1.14 to $1.18 fiscal 2005 earnings per share (post split). Esterline Technologies (ESL ) posted 70 cents, vs. 44 cents, fourth-quarter earnings per share from continuing operations on a 21% sales rise. It sees $1.70 to $1.80 fiscal 2005 earnings per share. Rowe Companies (ROW ) expects $71 million to $74 million in fourth-quarter shipments, below a year ago's $74.5 million. Shipments will result in lower earnings per share, vs. a year ago's fourth-quarter. Martek Biosciences (MATK ) posted 33 cents, vs. 21 cents, fourth-quarter earnings per share (excluding items), on a 54% revenue rise. S&P maintains a buy rating. Morgan Stanley downgraded Accredo Health (ACDO ) to underweight from equal-weight. Merix (MERX ) acquired Data Circuit Systems for $43 million. The deal is expected to be accretive to Merix's financial results. Ecolab (ECL ) raised its quarterly dividend 9%. The company set a 10 million share buyback.  All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report. Standard & Poor's Regulatory Disclosure Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.
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