Lowe's Posts Weaker Earnings

Intuit sales forecast disappoints; Broadcom announces agreement with Qualcomm over patent dispute; plus more stocks in the news Friday

From Standard & Poor's Equity Research

Lowe's (LOW) posted better-than-expected 40 cents vs. 43 cents fourth quarter earnings per share (EPS) on 5.3% lower same-store sales and 3.7% lower total sales. The company sees a drop in first quarter comps of 2% to 4% and 49 cents to 51 cents EPS. It also sees $2.02 to $2.09 fiscal 2008 EPS.

Intuit (INTU) posted 45 cents vs. 48 cents second quarter non-GAAP EPS despite a 2.8% revenue rise. It sees fiscal 2007 revenue of $2.625 billion to $2.675 billion and $1.33 to $1.37 non-GAAP EPS, which is below the Street view.

Broadcom (BRCM) announced an agreement with Qualcomm (QCOM) to dismiss with prejudice all claims and counterclaims associated with two patents belonging to Qualcomm and two patents belonging to Broadcom.

Chiquita Brands (CQB) posted 99 cents fourth quarter loss vs. 45 cents loss as a $25 million accrual related to the potential settlement of a previously disclosed U.S. DoJ investigation offset a 9% revenue rise. The company expects 2007 capital spending of $65 million to $75 million.

Clear Channel Communications (CCU) posted 43 cents vs. 34 cents fourth quarter EPS before discontinued operations on an 11% revenue rise. The company sees 2007 capital spending of $325 million to $350 million (excluding any capex associated with new contract wins).

Coca-Cola Femsa (KOF) posted Ps. 0.82 fourth quarter EPS on 7.1% higher revenue. Operating income rose 0.3% to Ps. 2.619 billion and operating margin was 17.3%.

Domino's Pizza (DPZ) posted 49 cents vs. 59 cents fourth quarter EPS on 1.0% higher same-store sales and 4.8% lower total sales. The company is committed to re-establishing a track record of producing annual domestic same-store sales increases of 1% to 3%.

Amis Holdings (AMIS) says CFO Dave Henry will be leaving due to family reasons but has agreed to remain with the company while it searches for his replacement.

KLA-Tencor (KLAC) entered into an accelerated share repurchase agreement under which the company will repurchase $750 million of its stock. The company also set a new 10 million share buyback program.

Semco Energy (SEN agrees to be acquired by Cap Rock Holding Corp. for $8.15 in cash per share.

Midway Games (MWY) Late yesterday posted a $0.02 fourth quarter loss vs. $0.42 loss on a 39% revenue rise. Sees 2007 revenue growth of about 36% to $225 million, GAAP loss of about $0.44 and non-GAAP loss of about $0.27. Sees about $7 million first quarter revenue and GAAP loss of $0.25.