) posts 70 cents vs. 31 cents first quarter earnings per share (EPS) from continuing operations on a 16% revenue rise.
Countrywide Financial (CFC
) says its mortgage banking activity remained strong in the first quarter. Mortgage loan fundings were up 13% year over year and refinance volume remained high, accounting for 55% of first quarter production.
M/I Homes (MHO
) posts a 4% increase in first quarter backlog, sales value increasing 18% to $1.1 billion and a 5% increase in new contracts.
Bausch & Lomb (BOL
) temporarily suspends U.S. shipments of ReNu with MoistureLoc lens care solution.
) says its device average selling price (ASP) in the first quarter of 2006 was EUR 103, vs. the previous flat to slightly down sequential estimate.
General Motors (GM
) is to sell its 7.9% equity stake in Isuzu Motors, and expects to realize cash proceeds of $300 million. The commercial partnership between GM and Isuzu is to continue.
Piper Jaffray (PJC
) says UBS Financial Services Inc. (a unit of UBS) has agreed to buy substantially all of the assets and assume certain liabilities, of PJC's Private Client Services business for $500 million in cash, subject to certain adjustments.
Micron Technology (MU
) posts 27 cents vs. 17 cents second quarter EPS as sharply higher other income offset a 6.3% sale decline.
) expects 2006 net sales of about $17.7 billion, and free cash flow is expected to be positive for year, in the $50 million to $100 million range vs. negative $419 million a year-ago.
Rohm & Haas (ROH
) sees better-than-expected 90 cents to 93 cents first quarter EPS. It cites strong Electronic Materials sales, earnings, and improved earnings in some of its largest chemical businesses.
Embarcadero Technologies (EMBT
) sees lower-than-expected 4 cents first quarter EPS (non-Generally Accepted Accounting Principles) on revenue of $14.2 million to $14.5 million. It cites weak results in Europe and lower sales volumes in domestic telesales business.
Secure Computing (SCUR
) cuts its first quarter revenue guidance to $42 million to $42.5 million, from approximately $45 million. It now sees GAAP EPS of breakeven-to-a penny, and non-GAAP EPS of 12 cents to 13 cents.
) announces the resignation of CFO Jay Ryan. The company plans to immediately begin a search to replace Mr. Ryan.
) posts 19 cents third quarter EPS loss vs. 9 cents EPS on a 6.2% revenue drop. It notes mark-to-market losses on natural gas contracts, forex losses, and margins in the phosphate business were squeezed by high sulfur, ammonia prices, and low potash sales volume.
Best Buy (BBY
) says it has eliminated nearly all mail-in rebates on computers and computer-related merchandise; customers purchasing desktop computers, monitors, most printers, and most computer accessories now will get instant savings.
)'s auditor, Grant Thornton, who was dismissed, tells the Securities and Exchange Commission that it had not previously been provided with e-mail, or specific allegations being made by a previous Sunterra employee during either its audit or interim review.
Caribou Coffee (CBOU
) posts 1% lower first quarter comparable coffeehouse sales and 24% higher total revenue.
) sees $94 million to $95 million first quarter revenue. It notes first quarter guidance is "slightly below" original expectations due to customer hesitation resulting from a major acquisition and related factors.