) posted 12 cents earnings per share in the fourth quarter, on revenue of $1.2 billion. The results include an unexpected one-time gain of 3 cents a share. Analysts expected AMD to earn an average of 4 cents earnings per share.
) terminated discussions with Federal-Mogul Corp. regarding the possible sale of Honeywell's automotive Bendix friction materials business. The parties are unable to agree on terms. Shares fell.
Online brokerage firm AmeriTrade (AMTD
) posted fourth-quarter earnings per share of 17 cents, vs. 5 cents one year earlier, on a 23% total revenue rise. AmeriTrade raised its fiscal 2004 earnings per share guidance to 49 cents to 79 cents. Shares advanced.
PacifiCare Health (PHS
) is among health-care providers seen benefitting from the government's announcement for a 10.6% increase in Medicare payments to private insurers. Shares rose.
Cingular Wireless, jointly owned by SBC Communications (SBC
) and BellSouth (BSC
) has made a formal offer to acquire AT&T Wireless (AWE
) in an all-cash deal, according to a report in USA Today. AT&T Wireless shares rose.
) posted better-than-expected 91 cents, vs. 47 cents fourth-quarter earnings per share on a 13% revenue rise (net of interest expense). The financial-services firm notes that the fourth-quarter of 2002 included $1.3 billion in after-tax charges related to the establishment of reserves for regulatory settlements and related civil litigation.
Continental Airlines (CAL
) posted 67 cents fourth-quarter earnings per share, vs. a $1.67 loss on a 10% operating revenue rise.
SoundView upgraded Openwave Systems (OPWV
) to outperform from neutral.
United Technologies (UTX
) posted $1.16, vs. $1.06 fourth-quarter earnings per share on a 19% revenue rise, and maintains its $5.00-$5.30 2004 earnings per share guidance.
Harris Corp. (HRS
) raised its $1.50-$1.65 fiscal 2004 earnings per share guidance to $1.85-$1.95. Harris says both its Government Communications Systems and RF Communications segments continue to deliver stronger-than-expected performance. S&P upgraded to accumulate. AG Edwards and Needham will raise their estimates. Shares advanced.
CIBC World upgraded Check Point Software (CHKP
) to sector outperform from sector perform.
Circuit City (CC
) will sell its private-label credit card operation to Bank One (ONE
) for par value of receivables. The companies will enter a deal under which Bank One will offer private-label, co-branded credit cards to new and existing customers.
Moore Medical (MMD
) agreed to be acquired by McKesson (MCK
) in a $40 million deal. Terms: $12.00 cash for each Moore share.