Markets & Finance

AaiPharma Jumps


First Albany initiated coverage of aaiPharma (AAII) with strong buy.

Select Comfort (SCSS) priced a 6.2 million secondary offering at $13 per share.

Medical products maker Vital Signs (VITL) posted 10 cents vs. 64 cents second-quarter earnings per share from continuing operations on flat net revenue growth. SG Cowen and Adams Harkness downgradd to market perform.

Nvidia (NVDA) posted 12 cents, vs. 47 cents a year ago, first-quarter earnings per share on a 31% revenue drop. The chipmaker reportedly forecasted as much as an 18% sequential rise in second-quarter sales. S&P reiterates hold. UBS Warburg and Pacific Growth raised their estimates.

Intel's (INTC) president reportedly told a German newspaper he seeing signs of an industry turnaround.

ImClone (IMCLE) says auditor KPMG is insisting on a broad review of ImClone's finances before signing off on its 2002 earnings, according to The Wall Street Journal.

Contact lens maker Ocular Sciences (OCLR) posted 25 cents vs. 41 cents first-quarter earnings per share despite a 16% sales rise. It maintains the $1.04 to $1.14 2003 earnings per share guidance (excluding charges). Baird upgraded to outperform from neutral.

Computer maker Gateway (GTW) reiterated its comfort with the previous guidance of 27-cents second-quarter loss per share on $798 million revenues, and 19-cents loss on $893 million in revenues, as well as 9-cents fourth-quarter loss on $964 million in revenues. S&P reiterates hold.

Bear Stearns upgraded Coca-Cola (KO) to outperform from peer perform.

Interpublic (IPG) posted 2-cents first-quarter loss per share, vs. 16 cents earnings per share, amid flat revenue, weak demand, and higher costs. The advertising firm maintained its 2003 forecast for 1% to 4% revenue decline, and 68 cents to 72 cents earnings per share.

Catalina Marketing (POS) posted 10 cents, vs. 40 cents, fourth-quarter earnings per share (GAAP) as a non-cash charge, and disappointing results at Catalina Health Resources, offset flat revenue. The provider of commputer-generated promotions at check-out stands sees EPS of 56 cents to 61 cents in fiscal 2004 including a charge and accounting change, and $1.08 to $1.13 excluding those those items.

Hotel real estate trust company RFS Hotel Investors (RFS) agreed to be acquired by CNL Hospitality for $383 million, plus the assumption of total debt of $304.6 million, for a total consideration of about $687.6 million. Terms: $12.35 cash per RFS Hotel share.

King Pharmaceuticals (KG) reaffirmed its intent not to proceed with the purchase of Elan's (ELAN) primary-care business due to various breaches and misrepresentations by Elan.

Univision (UVN) posted 5 cents, vs. 3 cents, first-quarter earnings per share on a 22% revenue rise. The Spanish-language broadcasting company posted $67.2 million, vs. $54.8 million, first-quarter EBITDA. Univision sees second-quarter earnings per share of 13 cents to 14 cents, vs. 9 cents, and a 16% to 20% increase in EBITDA.


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