Markets & Finance

Computer Associates Beats Targets, Ups Guidance


Computer Associates (CA) posted second quarter earnings per share of $0.04 -- $0.02 better than analysts' expectations. Revenues rose 5.3% to $772 million. The company sees third quarter earnings per share of $0.04 to $0.05 and raised the fiscal 2003 earnings per share guidance to a range of $0.14 to $0.16, up from the prior guidance of a $0.10 to $0.13 range.

KLA-Tencor (KLAC) posted better-than-expected first quarter earnings per share of $0.26. Revenues fell 25.3% to $375.5 million.

California Pizza (CPKI) posted $0.24 third quarter earnings per share vs. $0.23 -- better than expected. The fast-food pizza chain sees sees fourth quarter earnings per share in the $0.20 to $0.22 range.

SPX Corp. (SPW) posted $1.82 (including items) vs. 1.45 third quarter earnings per share on a 6% revenue rise. Merrill downgraded to neutral from buy.

McDonald's (MCD) posted $0.38 third quarter earnings per share vs. $0.42 a share on a 3% revenue rise. The fast-food giant continues to target 2002 earnings per share of $1.43 or better, excluding charges. McDonald's says achieving this target will require significant improvement in sales trends.

Wyeth (WYE) posted $0.47 vs. $0.52 third quarter earnings per share from operations on a 2% worldwide revenue decline, and higher costs of goods sold. S&P keeps accumulate.

UBS Warburg downgraded Deere & Co. (DE) to hold from buy.

Career Education (CECO) posted $0.30 vs. $0.17 third quarter earnings per share (including goodwill amortization) on a 42% revenue rise, and sees $0.58-$0.59 fourth quarter earnings per share on $212 million to $215 million revenues. CS First Boston downgraded on valuation.

USB Piper downgraded Activision (ATVI) to outperform from strong buy.

THQ (THQI) posted $0.12 vs. $0.09 third quarter earnings per share and expects fourth quarter earnings per share to be at the lower end of the current $0.95-$1.00 range. Goldman reportedly downgraded.

Lifepoint Hospitals (LPNT) posted $0.33 vs. $0.20 third quarter earnings per share including . items on a 22% revenue rise. ST Robinson Humphrey upgraded to buy from outperform.

Kimberly-Clark (KMB) posted $0.87 vs. $0.80 third quarter earnings per share from operations on 3% higher sales and sees $3.42-$3.46 2002 earnings per share from operations, slightly below the current expected range.

Fiserv (FISV) posted $0.34 vs. $0.27 third quarter earnings per share (excluding investment sale gains) on an 18% revenue rise. Fiserv continues to see $1.35-$1.37 2002 earnings per share (excluding investment sale gains). Wachovia reportedly downgraded to hold from buy.

Coach (COH) posted $0.24 vs. $0.14 first quarter earnings per share on a 28% sales rise, and sees $290 million in second quarter sales, and $0.61 earnings per share. The luxury handbag retailer sees at least $865 million fiscal 2003 sales, and at least $1.27 earnings per share.

Oxford Health (OHP) sees a $151.3 million non-cash pretax charge in third quarter, or $0.98 per share after-tax, due to securities class action lawsuits. Including the charge, Oxford sees $0.26 third quarter earnings per share.

Checkpoint Systems (CKP) posted $0.19 vs. $0.14 third quarter earnings per share on a 2.2% revenue rise and sees $165 million to $170 million fourth quarter revenue, and $0.21-$0.26 earnings per share.

Radioshack (RSH) posted $0.25 vs. $0.23 third quarter earnings per share despite flat same store sales, and 3% lower total sales. The electronics retailer sees $0.63-$0.68 fourth quarter earnings per share. Lehman maintains underweight.

Texas Instruments (TXN) posted $0.09 third quarter earnings per share vs. a $0.03 loss (pro forma) on 22% revenues rise. Analysts had expected a mean average of $0.10 a share. TI posted $0.11 GAAP earnings per share and sees $0.02 fourth quarter earnings per share (pro forma), as well as breakeven GAAP on a 10% sequential revenue decline. Wachovia and S&P downgraded.

Pulte Homes (PHM) posted $1.83 vs. $1.53 third quarter earnings per share on a 25% revenue rise, and raised the $6.75-$7.00 2002 earnings per share guidance to $7.05-$7.15, and set a $7.85-$8.25 2003 guidance.

TMP Worldwide (TMPW) plans to spin off its e-Resourcing and Executive Search units. S&P reiterates accumulate.

International Rectifier (IRF) posted $0.17 vs. $0.15 first quarter earnings per share on a 26% revenue rise, and says third quarter gross margins are under pressure due to high-end information technology application weakness. The company sees second quarter revenues sequentially flat, plus-or-minus 3%.

Scansoft (SSFT) filed to offer 7 million shares.

Veritas Software (VRTS) posted $0.14 vs. $0.12 third quarter earnings per share (pro forma) on a 7.6% revenue rise, and posted $0.09 GAAP earnings per share. The storage software company sees $0.12-$0.14 fourth quarter earnings per share (pro forma).

AT&T (T) posted $0.06 third quarter earnings per share from continuing operations vs. a $0.02 loss as growth at AT&T Broadband and AT&T Business offset an 8.2% revenue drop.

Altera (ALTR) posted $0.06 vs. $0.05 third quarter earnings per share on a 3% sales rise. The chip maker raised its 48 million share buyback authorization to 68 million.


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