Ditech Falls

Doral Financial sees accounting problems; Computer Associates shares decline; plus more of Friday's stocks in the news

Ditech Communications (DITC ) posted 23 cents, vs. 24 cents, fourth-quarter earnings per share from continuing operations on flat revenue. The company expects a decline in orders from its second largest customer. It sees $10 million to $11 million first-quarter revenue. First Albany downgrades to underperform from neutral.

In its 8-K, Doral Financial (DRL ) says it continues to expect its accounting firm will issue an adverse report on its internal controls. The company expects about a $600 million pre-tax reduction in fair value of floating rate IOs.

Computer Associates (CA ) posted 20 cents, vs. 18 cents, fourth-quarter earnings per share (non-GAAP) on a 7% revenue rise. The company sees 21 cents to 22 cents first-quarter earnings per share (non-GAAP) on revenue of $910 million to $930 million.

Chico's FAS (CHS ) posted 26 cents, vs. 20 cents, first-quarter earnings per share on an 11% rise in company-owned same-store sales and 27% total revenue rise. Prudential raises target price.

TiVo (TIVO ) posted a penny first-quarter loss per share, vs. an 11-cent loss, on a 59% rise in service and technology revenue. The company narrows its fiscal 2006 net loss projection to $10 million to $20 million. S&P says its first-quarter loss is narrower than expected and is reviewing estimates.

Information-technology products distributor Tech Data (TECD ) posted 56 cents, vs. 59 cents, first-quarter earnings per share despite a 5.3% sales rise. The company notes weak demand overseas. It sees second-quarter earnings per share of 40 cents to 45 cents. S&P keeps hold. First Albany reportedly cuts to underperform from neutral.

Electronics Boutique (ELBO ) posted 11 cents, vs. 12 cents, first-quarter earnings per share as merger-related costs offset 15% higher same-store sales and 36% higher total revenue. S&P keeps hold.

Celgene (CELG ) says the FDA approved Focalin XR extended-release capsules for the treatment of attention-deficit/hyperactivity disorder in adults, adolescents, and children.

Merrill reportedly upgrades Visteon (VC ) to buy from neutral.

Wet Seal (WTSLA ) posted a 23-cent first-quarter loss, vs. a 52-cent loss on a 3.9% sales rise.

Restoration Hardware (RSTO ) gains after posting a 9-cent first-quarter loss, vs. a 12-cent loss on a 5% same-store sales rise and 19% total revenue rise. It sees a second-quarter comparable sales growth in the mid- to high-single digits and a 3-cent to 4-cent loss, vs. 6-cent loss a year ago.

Abbott Laboratories (ABT ) says the FDA approved Zamplan(R) (paricalcitol) Capsules and oral activated vitamin D therapy for the prevention and treatment of secondary hyperparathyroidism.

Credence Systems (CMOS ) posted a 21-cent second-quarter loss per share, vs. 6 cents earnings per share, as higher total operating expenses and a restructuring charge offset a 7.3% revenue rise. The company sees a 27-cent to 30-cent third-quarter loss on revenue of $104 million to $109 million.

51Job Inc. (JOBS ) sets a $25 million share (ADS) 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.
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