Markets & Finance

Yahoo! Jumps on Strong Earnings


Yahoo! (YHOO) shares jumped after the Internet outfit posted 10 cents, vs. 5 cents a year ago, third-quarter earnings per share on 43% higher revenue. Deutsche Bank Legg Mason, and USB Piper upgraded the stock. S&P raised estimates and keeps hold ranking.

Computer Associates (CA)shares fell after the company asked three executives, including its CFO, to resign in the wake of an independent inquiry by its audit committee. S&P reiterated a hold ranking on the stock.

AMR Corp. (AMR) shares climbed after Morgan Stanley upgraded AMR and Continental Airlines (CAL) to equal-weight from underweight.

Marvel Enterprises (MVL) shares rose after the comic book company raised its 25 cents to 30 cents third-quarter EPS guidance to 37 cents to 41 cents. It also hiked its 2003 EPS guidance to $1.38 to $1.42.

Children's Place Retail Stores (PLCE) shares jumped after the company posts 30% higher September same-store sales, and 47% higher total sales. It sees about 40 cents in third-quarter EPS vs. year ago's 6 cents. S&P upgrades to hold, while Pacific Growth upgrades to overweight.

Wal-Mart Stores (WMT) posted 6% higher September same-store sales, and 13% higher net sales. The retail giant sees 3% to 5% October same-store sales.

Target (TGT) reported 5.4% higher September same-store sales, and 12% higher total sales.

Gap (GPS) share rose after the apparel retailer posted 13% higher September same-store sales, and 14% higher net sales.

Pacific Sunwear (PSUN) shares rose after the apparel retailer posted 19% higher September same-store sales, and 29% higher total sales. It raised third-quarter EPS guidance to 29 cents.

BJ's Wholesale (BJ) shares rose after the retailer reported 12% higher September same-store sales, and 20% aggregate sales. It raised 19 cents to 23 cents third-quarter EPS guidance to 24 cents to 28 cents. It continues to see 60 cents to 64 cents for fourth-quarter EPS. McDonald Investments upgrades the stock to buy from hold.

Pier 1 Imports (PIR) posted 2% higher September same-store sales and 10% higher aggregate sales. The retailer sees flat-to-negative 3% October same-store sales.

Hewlett-Packard (HPQ) shares rose after Morgan Stanley says the company is poised for a strong fourth quarter. Morgan Stanley said it sees possible upside to consensus estimates, and rates the stock overweight.

Tanox (TNOX) shares rose after the company was granted fast track status to TNX-355 for the treatment of patients with human immunodeficiency virus 1 (HIV-1) infection who have failed or are failing antiretroviral therapy.

Vixel (VIXL) agreed to be acquired by Emulex (ELX) for about $310 million, or about $10 per VIXL share in cash.

Freeport McMoRan Copper & Gold (FCX) shares fell on reports that two workers were killed and six were missing after a slippage of material at its Grasberg mine in Papau, Indonesia. The company notes five other employees were injured. Merrill downgraded the stock to neutral from buy.

Bombay Company (BBA) shares rose after the home goods chain posted 17% higher September same-store sales, and 22% higher total sales. It now sees a loss per share of 2 cents to 4 cents in the third quarter, vs. its previous guidance of a 3 cents to 6 cents loss.

Claire's Stores (CLE) posted 7% higher September same-store sales, and 14% higher total sales. The retailer raised its 31 cents to 32 cents third-quarter earnings per share guidance to 41 cents to 42 cents (including 4 cents one-time tax benefit). It raised its 4% third-quarter same-store sales guidance to 6% to 7%.

Aeropostale (ARO) posted 22% higher September same-store sales, and 49% higher total sales.

Hot Topic (HOTT) posted 9% higher September same-store sales, and 31% higher total sales. As a result of strong sales, the chain now sees high-single digit comparable increase for third quarter, and 28 earnings per share (split adjusted).

Accenture (ACN) posted 25 cents, vs. 8 cents (including. charges), fourth-quarter earnings per share on 12% net revenue rise (5% in local currency).

Genentech (DNA) posted 29 cents, vs. 17 cents, third-quarter earnings per share (GAAP) on 26% higher operating revenue and 19% higher product sales. The company says it's on track to meet or exceed 2003 financial goals of $3 billion-plus revenue and annual non-GAAP earnings per share growth of at least 20%.

Bradley Pharmaceuticals (BDY) says third-quarter earnings per share will meet or exceed 34 cents to 36 cents, a 17% to 24% increase above First Call guidance. It expects to significantly increase 2003 guidance after its third quarter conference call.

Halliburton (HAL) cut its 32 cents third-quarter earnings per share from continuing operations guidance to 27 cents. Halliburton cites lower-than-expected operating results from joint ventures and an increase in legal fees.

Marriott International (MAR) posted 38 cents, vs. 45 cents, third-quarter earnings per share from continuing operations despite a 9.2% total revenue rise. It sees 60 cents to 62 cents fourth-quarter earnings per share from continuing operations, and $2.06 to $2.16 for 2004.

Guidant (GDT) voluntarily recalled certain manufacturing lots of its 3.0 mm diameter Multi-link Vision Coronary Stent System. It says the action is due to a limited amount of the product that did not meet its manufacturing specification for stent retention.

M.D.C. Holdings (MDC) posted $2.16, vs. $1.43, third-quarter earnings per share on a 37% revenue rise. The company expects to close as many as 11,100 homes in 2003, and produce record net income.

American Eagle Outfitters (AEOS) posted 3% lower September consolidated same store sales and 7.9% higher total sales.

Faro Technologies (FARO) posted better than expected third-quarter sales of about $19.2 million, a 58.7% increase from one year ago. It cites continued growth in new orders and shorter delivery times.

Sonus Networks (SONS) posted 1 cent third-quarter earnings per share, vs. an 11-cent loss a year ago, on a sharp revenue rise.


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