) says 2003 earnings per share will exceed $15 per share, vs. the prior guidance of $13 to $15.
Computer Associates (CA
) slid. On Thursday the company asked three executives, including the CFO, to resign in the wake of an independent inquiry by an audit committee.
UBS Financial upgraded Urban Outfitters (URBN
) to buy from neutral. The specialty retailer's shares rose.
Motorhome maker Coachmen (COA
) sees 33 cents to 35 cents third-quarter earnings per share, exceeding the consensus estimate by 32% to 40%, on 13% higher sales.
UBS Financial downgraded AirTran (AAI
) and JetBlue (JBLU
) to reduce from neutral. UBS also downgraded America West (AWA
) to neutral from buy. AirTran shares slipped.
Juniper Networks (JNPR
) rose after the maker of networking gear posted 2 cents third-quarter earnings per share (GAAP), vs. a 24 cents loss, on a 13% revenue rise. Wachovia upgraded to market perform from underperform. SoundView upgraded to neutral. CIBC World raised its estimates and price target. S&P keeps hold.
La-Z Boy (LZB
) sees 26 cents to 29 cents second-quarter earnings per share, down from previous the guidance of 38 cents to 43 cents. The furniture retailer cited a sales shortfall.
Infosys Technologies (INFY
) shares rose after the India-based information-technology firm posted 49 cents, vs. 36 cents, second-quarter earnings per American depository shares on a 38% revenue rise. Infosys raised the third-quarter earnings per share guidance to 50 cents, and upped the fiscal 2004 estimate to $1.95.
General Electric (GE
) slipped. The diversified conglomerate posted 40 cents, vs. 41 cents, third-quarter earnings per share (before an accounting change) despite a 2% total revenue rise. GE sees 45 cents to 47 cents fourth-quarter earnings per share, and $1.55 to $1.57 for 2003. Separartely, GE reached a deal to acquire British medical company Amersham (AHM
) for $9.5 billion in stock. S&P reiterates hold on GE.
XM Satellite Radio (XMSR
) rose on news that Delphi (DPH
) said it has produced and shipped more than 1.2 million factory-installed, retail satellite radios.
Nabi Biopharmaceuticals (NABI
) climbed. Nabi says it's significantly accelerating its timeline for licensing and commercializing its lead development product, StaphVAX, an investigational vaccine being developed to prevent S. aureus blood stream infections.
Cima Labs (CIMA
) sees 3 cents to 6 cents third-quarter earnings per share, vs. the previous guidance of 24 cents to 27 cents, due to merger-related expenses. Cima also withdrew its 2003 earnings per share guidance.
Deutsche Bank upgraded its investment rating on shares of Intel (INTC
) to buy from hold, citing attractive valuation. Deutsche Bank also upgraded Texas Instruments (TXN
) to hold from sell.
) says an investigation by a special committee of the board of directors did not turn up any evidence to support allegations of corporate wrongdoing.
) discontinued the development of MLN2201, a humanized monoclonal antibody for conditions related to the inflammation of heart and blood vessels. The results of a Phase I trial did not meet criteria to support further development.
) and King Pharmaceuticals (KG
) said the FDA approved Estrasorb, a topical emulsion for estrogen therapy. The companies will co-promote Estrasorb in the U.S. and Puerto Rico, and will share gross profits from net sales equally.
Cardinal Health (CAH
) received a request from the Securities and Exchange Commission, which seeks information pertaining to the accounting treatment of $22 million that was recovered from vitamin makers who were found to have overcharged Cardinal.
Monster Worldwide (MNST
) filed to offer 6 million newly issued shares.