Markets & Finance

Cognos Climbs

Posted on March 25, 2004

) posted 50 cents, vs. 33 cents fourth-quarter earnings per share on a 23% revenue rise. Cognos sees 19 cents to 50 cents first-quarter earnings per share on $169 million to $171 million in revenue, and sees $1.18 fiscal 2005 earnings per share. The company named Rob Ashe as CEO, replacing Ron Zambonini. Schwab SoundView reiterated its outperform rating.

Myogen (MYOG

) says the primary endpoint of its heart-failure drug did not reach statistical significance. CS First Boston downgraded to neutral from outperform. Lazard Freres downgraded to hold from buy.

Resources Connection (RECN

), a placement firm, posted 24 cents, vs. 12 cents third-quarter earnings per share on a 78% revenue rise. JMP Securities upgraded to market outperform from market perform.

EchoStar Communications (DISH

), the No. 2 U.S. satellite TV broadcaster, posted 1 cent fourth-quarter earnings per share (basic), vs. a 45 cents loss on stronger than expected new subscriber growth.

Albertson's (ABS

), the No. 2 U.S. grocer, agreed to acquire the U.S. supermarkets of J. Sainsbury Plc, Britain's third biggest grocer, for $2.5 billion.

Men's Wearhouse (MW

) reduced previously reported fiscal 2004 earnings per share to $1.17 from $1.33, and cut its fourth-quarter estimate to 49 cents, from 55 cents. The men's retailer cited costs that it expects to incur in connection with wage and hour litigation in California.

Sharper Image (SHRP

) raised its first-quarter earnings per share guidance to the 10 cents to 12 cents range due to strong sales trends to-date. As a result, the retailer raised the fiscal 2005 estimate to a range of $1.99 to $2.03.

Georgia Gulf (GGC

) expects first-quarter earnings per share to exceed 50 cents, citing higher margins and volumes for vinyl resins and vinyl chloride monomer.

Yahoo (YHOO

) agreed to acquire Kelkoo S.A., Europe's leading online comparison shopping service, for 475 million euros ($574 million) in cash, subject to adjustments.

Mylan Labs (MYL

) says a court ruled that its generic pain-relief patch, Duragesic, violated a patent held by Johnson & Johnson (JNJ

).

Sylvan (SYLN

) posted 14 cents, vs. 25 cents fourth-quarter earnings per share as higher costs offset a 6.7% sales rise.

Sterling Financial (STSA

) will be added to the S&P SmallCap 600 after the close of trading Mar. 31, replacing Ryland Group (RYL

), which is being added to the S&P MidCap 400.

ETrade Financial (ET

) will be added to the S&P 500 after the close of trading Mar. 31, replacing FleetBoston Financial (FBF

), which is being acquired by Banc of America (BAC

).