Markets & Finance

Comcast Climbs


InVision Technologies (INVN) agreed to acquire Yxlon International, a leader in industrial non-destructive testing and security-related X-ray components, for 38.6 million euros. SG Cowen upgraded to market perform from underperform.

FuelCell Energy (FCEL) and Caterpillar (CAT) are expected to win a contract to install one of nation's first advanced utility-scale fuel cell power plants designed to feed power from a substation into the local electric distribution system.

Netflix (NFLX) says it has surpassed one million subscribers. USB Piper reiterates outperform.

Noven Pharmaceuticals (NOVN) posted 13 cents vs. 16 cents fourth quarter earnings per share despite a 29% revenue rise, and sees $10 million in first quarter revenue. The company will license methylphenidate transdermal system to Shire Pharmaceutical. CE Unterberg raised its estimates.

In an 8-K filing, Shaw Group (SGR) cut the $1.92-$2.08 fiscal 2003 (Aug.) earnings per share guidance to $1.32-$1.37 due to a lack of new construction activity in the power generation industry, and interest costs. S&P downgraded to sell from hold.

BB&T Capital upgraded American Woodmark (AMWD) to strong buy from hold. On Wednesday the company posted 80 cents third quarter earnings per share on a 10% sales rise, and forecast 90 cents to 95 cents fourth quarter earnings per share.

J.P. Morgan upgraded Darden Restaurants (DRI) to overweight from neutral.

Take-Two Interactive (TTWO) posted $1.20 vs. 92 cents 1Q earnings per share on a 45% net sales rise, and sees 34 cents second quarter earnings per share, and $2.26 for fiscal 2003.

Watson Pharmaceuticals (WPI) says the FDA approved Oxytrol, the first and only transdermal therapy to treat an overactive bladder.

Pfizer (PFE) says its acquisition of Pharmacia (PHA) has been approved by the European Commission.

Children's Place (PLCE) posted fourth quarter earnings per share of 14 cents (adjusted) vs. 70 cents one year earlier on 19% lower same-store sales. The company notes that month-to-date, February same-store sales have declined 25%. It cites weak consumer confidence and severe winter weather for the decline.

Limited Brands (LTD) posted fourth quarter earnings per share (adjusted) of 67 cents vs. 67 cents one year earlier on flat same-store sales growth. Limited sees a 10%-20% decline in spring season earnings per share and flat-to-5% growth in fiscal 2004.

Longs Drug Store (LDG) posted fourth quarter earnings per share of 17 cents vs. 58 cents one year earlier as higher expenses and costs offset a 1.2% same-store sales rise. Longs sees earnings per share of 10 cents to 14 cents for the fiscal 2004 first quarter and 89 cents to 96 cents for the full fiscal year. It will cut 170 jobs.

Impath (IMPH) posted a fourth quarter loss per share of 6 cents vs. earnings per share of 29 cents one year earlier as sharply higher operating costs offset a 15% revenue rise.

Bioreliance (BREL) posted fourth quarter earnings per share of 31 cents vs. 27 cents one year earlier on an 8.2% revenue rise. It notes that fourth quarter earnings per share were 2 cents below previous guidance. Bioreliance sees earnings per share of 25 cents to 27 cents in the first quarter and $1.46 to $1.50 for 2003.

Clark/Bardes (CBC) announced a change in the timing of its administrative fee revenue recognition within its Executive Benefits Practice, reducing previously reported first quarter 2002 earnings per share by 4 cents to 26 cents.

Men's Wearhouse (MW) posted fourth quarter earnings per share of 50 cents vs. 39 cents one year earlier on a 1.1% total sales rise. It sees earnings per share of 31 cents to 33 cents for the fiscal 2004 first quarter and $1.22 to $1.28 for the full fiscal year.

Yum! Brands (YUM) posted a 10% rise in estimated international system sales prior to currency conversion (15% rise after conversion). It reaffirmed its first quarter earnings per share guidance of 38 cents.

Comcast (CMCSA) posted a fourth quarter loss per share of 3 cents vs. a 34-cent loss one ear earlier on a 53% revenue rise (results include all acquisitions as of dates of their closings). Comcast sees 2003 EBITDA of $6.2 billion to $6.3 billion .

Cooper Cos. (COO) posted fourth quarter earnings per share of 44 cents vs. 30 cents one year earlier on a 62% revenue rise. Cooper sees earnings per share of 46 cents to 49 cents in the second quarter and raised its $1.98 to $2.03 fiscal 2003 earnings per share guidance to $2.03 to $2.07.

Evergreen Resources (EVG) posted fourth quarter earnings per share of 60 cents (excluding charges) vs. 27 cents one year earlier on a 60% revenue rise.


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