LendingTree (TREE) posted 19 cents fourth quarter earnings per share vs. a 29-cent loss (GAAP) on 85% revenue growth. The company raised the 2003 earnings per share by six cents to 46 cents, and upped the revenue estimate by $5.9 million to $136.9 million. Friedman Billings keeps outperform.
Mattel (MAT) posted 42 cents vs. 31 cents fourth quarter earnings per share (GAAP) on a 6.9% sales rise. Analysts had been anticipating average earnings of 38 cents a share. The toy makter maintains its guidance for revenue growth in the mid-single-digit range, and earnings per share growth in the low double-digits to mid-teens range.
Accredo Health (ACDO) posted 35 cents vs. 18 cents second quarter earnings per share on a sharp revenue rise. Accredo sees $1.33 to $1.38 fiscal 2003 earnings per share on lower than expected revenue of $1.40 billion to $1.45 billion. S&P reiterates hold.
ICU Medical (ICUI) posted 38 cents vs. 32 cents fourth quarter earnings per share on 16% higher sales. S&P downgraded to hold from accumulate, citing concerns about the quality of earnings.
Affiliated Computer Services (ACS) receivesd notice that the U.S. Department of Education plans to conduct a competitive bidding process for a direct loan servicing system contract previously held by the company. CS First Boston keeps neutral.
Lehman Brothers upgraded RF Micro Device (RFMD) to equal-weight.
Aerospace and defense company Alliant Techsystems (ATK) declined in reaction to Saturday's loss of Space Shuttle Columbia. The company's Thiokol Propulsion division builds solid rocket boosters for space shuttles. CS First Boston downgraded, while SoundView says the loss is likely to create uncertainty. S&P reiterates hold.
Brown-Forman (BF.B) announced an offer to purchase 6.8 million Class B shares, and 1.5 million Class A shares via a Dutch Auction for prices ranging between $63 and $73. The buyback represents 12% in shares outstanding. S&P keeps hold.
Legg Mason's Bill Miller says Eastman Kodak (EK) yields a secure 6%, and feels the company's dividend is secure, according to Barron's.
Merrill upgraded Abercrombie & Fitch (ANF) to buy from neutral.
Swedish telecom equipment maker Ericsson (ERICY) posted a fourth quarter loss of 8.33 billion Swedish kronor, or $968.7 million, compared with a loss of 3.5 billion kronor in the year-earlier period. The company sees a first quarter sequential sales drop this year due to normal seasonality, and plans to return to profit at some point in 2003. S&P reiterates avoid.
Standard & Poor's will add BankUnited Financial (BKUNA) to the S&P SmallCap 600, replacing Luby's, as a result of the restaurant company's low market capitalization.
According to The Wall Street Journal, Advanced Micro Devices (AMD) delayed shipment of a long-awaited microprocessor chip that is vital to its competition with Intel. AMD says the chip won't be ready until September; this is the second delay.
Anthem (ATH) posted $1.12 vs. 99 cents fourth quarter earnings per share (excluding net realized gains, and other non-recurring items) on 50% higher operating revenue. Anthem raised the 2003 earnings per share guidance to a range of $4.75 to $4.85, and set a $500 million stock buyback.
InterPublic (IPG) may absorb its struggling Bozell advertising agency into another part of the company, according to The Wall Street Journal, which cited sources close to the company.
Invision Technologies (INVN) inked a contract with Siemens to provide maintenance service for all Invision explosives detection systems in the U.S. Invision says the value of the contract could be as much as $300 million over five years.
Genesis Health (GHVI) posted better than expected 37 cents vs. 39 cents fourth quarter earnings per share from continuing operations as higher operating costs offset a 5.3% revenue rise. The company says its Genesis ElderCare unit is in a tentative deal to sell its long-term care and assisted living assets in Florida.
Tyco (TYC) says its Tyco International Group S.A. unit entered into a new 364-day unsecured revolving bank credit facility providing for the availability of $1.5 billion.
Biogen (BGEN) will make a $55 million final payment to Schering in connection with a proprietary patent owned by Berlex. On Friday Biogen said the FDA approved its Amevive for psoriasis.