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Google Drops as CFO Reportedly Says Growth Slowing

SEC clears way for NYSE buy of Archipelago; Staples, Conseco, Heinz, and others post results; plus more stocks in the news Tuesday

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Google's (GOOG) Chief Financial Officer reportedly says search monetization gains have largely been realized; growth is slowing and the company will have to find "other ways" to boost revenue.

Shanda Interactive Entertainment (SNDA) posts a 94 cents fourth quarter loss per American Depositary Share on a 16% revenue decline, non-cash impairment charge of $64.6 million, and increases in provisions for doubtful debts and marketing promotion expenses.

The Securities and Exchange Commission reportedly approved rule changes allowing the New York Stock Exchange to acquire Archipelago Holdings (AX). The SEC says that under rule changes, the NYSE and Arhipelago will become subsidiaries of the new publicly traded company, NYSE Group Inc., which will trade under the symbol NYX.

Staples (SPLS) posts 39 cents vs. 33 cents fourth quarter earnings per share (EPS) on a 9.5% sales rise. It sees high single-digit sales growth in the first quarter and 15% to 20% EPS growth. For fiscal year 2007, it sees low double-digit sales growth and 15% to 20% EPS growth. It raises its annual dividend 32%.

Conseco (CNO) posts 42 cents vs. 46 cents fourth quarter EPS (GAAP) on a 2.9% revenue decline. It sees $1.85 2006 operating EPS.

H.J. Heinz (HNZ) posts 39 cents vs. 37 cents third quarter EPS from continuing operations on a 5.7% total sales rise. It reconfirms its pro-forma EPS expectations of $2.10 to $2.16 for fiscal year 2006, with 6% to 8% growth off this base in fiscal year 2007.

Bristol-Myers Squibb (BMY) the Food and Drug Administration approves Bristol-Myers Squibb's and Somerset Pharmaceutical Inc.'s EMSAM, the first transdermal patch for treatment of major depressive disorder, made by Mylan Laboratories (MYL) for Somerset.

A.S.V. (ASVI) postpones an earnings release scheduled for Feb. 28 to allow it additional time to resolve an accounting issue relating to an $8.3 million equipment purchase during the second quarter, which was previously disclosed.

Nuvelo (NUVO) posts 49 cents fourth quarter loss vs. 33 cents loss from continuing operations as higher development expenses, and higher Genearl & Administrative costs offset a sharp revenue rise.

Fresh Del Monte (FDP) posts 2 cents fourth quarter loss (excluding charges) vs. 33 cents EPS on 7.4% lower sales. It cites lower banana pricing, increased competition in Asian markets, and lower-than-expected sales for gold pineapples during holidays.

United Natural Foods (UNFI) posts 26 cents vs. 23 cents second quarter EPS (excluding items) on a 19% sales rise. It raises fiscal year 2006 EPS guidance to between $1.05 and $1.10 (excluding items), and revenue to $2.38 billion to $2.42 billion.

PDL BioPharma (PDLI) posts 6 cents fourth quarter EPS vs. 12 cents loss (non-GAAP) on a sharp rise in total operating revenue, and a 67% rise in royalty revenue. It sees 2006 total operating revenue of $405 million to $435 million.

Whiting Petroleum Corporation (WLL) the oil and gas exploration company posts $1.05 vs. $1.31 fourth quarter EPS as higher costs, expenses, and other factors offset a 64% revenue rise. It sees production of 3.55 million to 3.75 million barrels of oil equivalent (BOE) for the first quarter and 15 million to 15.35 million BOE for 2006.

Teva Pharmaceutical Industries (TEVA) posts 45 cents vs. 41 cents fourth quarter EPS on a 5.9% sales rise. It sets a fourth quarter dividend of about 7 cents, up 12% over the previous quarter.

QLT (QLTI) the US District Court grants an injunction enjoining QLT, sanofi-aventis (SNY), and their subsidiaries from promoting, manufacturing, selling, and offering for sale QLT's Eligard in the US until May 1. QLT intends to appeal.

Universal Health Services (UHS) posts 45 cents vs. 46 cents fourth quarter EPS from continuing operations (adjusted) on a 6% revenue decline. It notes loss of revenue from loss of business at Louisiana facilities.

Valueclick (VCLK) posts 13 cents fourth quarter EPS on a sharp revenue rise. It also raises $480 million to $500 million 2006 revenue guidance to between $490 million and $500 million, as well as $123 million to $128 million adjusted EBITDA to between $125 million and $130 million. It will restate fiscal year 2004 results for income tax adjustments.

Elan (ELN) Piper Jaffray says results of its survey of 140 neurologists suggest that MS drug Tysabri, whose return to market is being reviewed by FDA next week, will have limited, likely restricted use.

Eaton Vance (EV) posts lower-than-expected 29 cents vs. 23 cents first quarter EPS on a 14% revenue rise, limited by higher operating expenses.

China Yuchai International (CYD) posts 6 cents 2005 loss vs. $1.68 earnings per share (EPS) as weaker gross margin, provision for loans to related the company, and other special items offset a 7.1% revenue rise.

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.
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