Markets & Finance

Nvidia Advances


Nvidia (NVDA) posted 30 cents vs. 43 cents fourth quarter earnings per share on 6.9% lower revenue. S&P reiterates hold. Morgan Stanley upgraded to overweight.

Dell Computer (DELL) posted 23 cents vs. 17 cents fourth quarter earnings per share on a 21% revenue rise. Dell sees 23 cents first quarter earnings per share on an 18% revenue rise. S&P reiterates hold. First Albany upgraded.

Universal Health Services (UHS) posted 67 cents vs. 50 cents fourth quarter earnings per share (before items) on a 15% net revenue rise. CFO Kirk Gorman will leave the company due to differences with auditor KPMG. S&P, Merrill, and Stephens downgraded.

Krispy Kreme (KKD) sees 88 cents fiscal 2004 earnings per share on 10% higher systemwide comparison store sales, and is comfortable with the current 65 cents fiscal 2003 earnings per share guidance.

International Multifoods (IMC) sees fourth quarter earnings per share at the low end of a previously announced range of 37 cents to 43 cents. Merrill lowered its estimates.

Longs Drug Store (LDG) sees lower than expected fourth quarter earnings per share of 24 cents to 27 cents, vs. S&P's 53 cents estimate. The drug store chain cited the impact of a weak economy, lower gross margins, higher operating expenses, and charges related to impaired assets. S&P downgraded to avoid.

Credit Suisse First Boston upgraded Winn-Dixie Stores (WIN) to neutral from underperform.

Intuit (INTU) posted 60 cents vs. 55 cents second quarter earnings per share (GAAP) on a 17% revenue rise, and posted 61 cents second quarter earnings per share (pro forma). The software maker raised its fiscal 2003 earnings per share guidance to a range of $1.38 to $1.42 on a 30% to 35% revenue growth. S&P maintains accumulate.

Biogen (BGEN) posted 43 cents vs. 48 cents fourth quarter earnings per share from operations on slightly lower revenue.

Diagnostic Products (DP) posted 42 cents vs. 38 cents fourth quarter earnings per share on a 14% sales rise. The company says it has contacted the U.S. Dept. of Justice and the Securities Exchange Commission to voluntarily disclose that its Chinese unit has made payments in China that violate foreign and U.S. law.

AOL Time Warner (AOL) reportedly concluded that a proposed CNN/ABC joint venture would be too difficult to operate.

InVision Technologies (INVN) posted $2.40 vs. 43 cents fourth quarter earnings per share on a sharp revenue rise. Year-ago earnings per share include a deferred tax valuation allowance. The maker of bomb detection systems sees $1.55 first quarter earnings per share on $160 million revenue, and continues to expects about $400 million in 2003 revenue.

Analog Devices (ADI) posted 16 cents vs. six cents first quarter earnings per share (GAAP) on a 19% revenue rise, and sees 17 cents to 18 cents second quarter earnings per share (GAAP) on a 3% to 5% sequential revenue rise. S&P reiterates buy. Banc of America upgraded.

Human Genome (HGSI) posted a 35-cent fourth quarter loss vs. a 26-cent loss (pro forma) on flat sales growth. The company posted a 46-cent loss vs. a 43-cent loss (GAAP), and sees $35 million in 2003 interest income.

J.M. Smucker (SJM) posted 58 cents vs. 36 cents third quarter earnings per share (excluding charges) on a doubling of net sales. Smucker raised the $1.98 to $2.05 fiscal 2003 earnings per share guidance to a range of $2.10 to $2.14. S&P keeps its buy recommendation.

Brookfield Homes (BHS) posted 52 cents to 48 cents fourth quarter earnings per share despite a 1% revenue fall. The company targets annual delivery of 2,000 homes in two years, and set an eight cents semi-annual dividend. Also, Brookfield wil repurchase up to $40 million of stock.

Allied Waste (AW) posted 23 cents (before charge) vs. 29 cents fourth quarter earnings per share on slightly lower revenue. S&P reiterates hold.

Symbol Technologies (SBL) posted eight cents vs. 16 cents fourth quarter earnings per share (GAAP) on a 9.7% revenue rise, and sees 34 cents to 42 cents 2003 earnings per share on 15% to 20% revenue growth. S&P reiterates hold.

Sinclair Broadcasting (SBGI) posted 31% higher fourth quarter broadcast cash flow from operations on 17% higher net broadcast revenue. The company sees 6.5% higher first quarter net broadcast revenue, and 3% higher for 2003.


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