Markets & Finance

Monster Worldwide Climbs on Strong Jobs Report


Monster Worldwide (MNST) and Robert Half International (RHI) are seen higher on the strong March jobs report: Nonfarm payrolls surged 308,000, vs. an expected 120,000, the biggest monthly gain since April 2000. Employment services are leading sector gainers today.

Sun Microsystems (SUNW) sees a 6 cents to 8 cents third-quarter loss per share from operations on $2.65 billion revenue. Sun says it will cut its workforce by about 3,300 people, and restructure its global property portfolio. Sun named Jonathan Schwartz as president and COO, effective immediately. S&P reiterates hold.

XM Satellite Radio (XMSR) says it has more than 1.68 million subscribers, and that it closed the first quarter with the addition of more than 320,000 new net subscribers.

Gateway (GTW) will close its 188 company-operated retail stores on Apr 9. Gateway says it's pursuing wider retail distribution of its products in the U.S. and abroad. S&P reiterates hold. Bear Stearns upgraded to peer perform from underperform. Needham downgraded. S&P keeps hold.

Sierra Wireless (SWIR) raised the first-quarter estimate to more than 12 cents earnings per share on $40 million-plus revenue, from 6 cents earnings per share on $35 million to $37 million in revenue. Sierra now sees first-quarter cash flow as significantly positive, vs. neutral. TD Newcrest reportedly upgraded to hold. CIBC World raised its estimates.

Medical-device maker Zimmer Holdings (ZMH) expects first-quarter revenue of about $740 million, above the First Call estimate. It expects to significantly exceed the first-quarter earnings per share First call consensus (excluding items). First Albany upgraded to buy from neutral. S&P keeps buy.

UBS Financial initiated coverage on Kmart (KMRT) with buy.

Schnitzer Steel (SCHN) posted 89 cents, vs. 44 cents second-quarter earnings per share on a 30% revenue rise. It sees $38 million to $44 million in third-quarter income from operations.

Thomas Weisel upgraded Boyd Gaming (BYD) to outperform from peer perform.

Continental Airlines (CAL) posted a 10.7% increase in March in traffic, and a 4.5% increase in capacity.

Hudson River Bank (HRBT) agreed to be acquired by First Niagara Financial in a $620 million deal. Terms: $19.63 in First Niagara stock and cash, or a combination of stock and cash for each Hudson River share.

Novartis (NVS) will pay Regeneron Pharmaceuticals (REGN) $42.75 million to satisfy its obligation to fund development for Interleukin-1 Trap. The companies agree to end IL-1Trap collaboration; the rights revert to Regeneron. Additionally, Novartis forgave all outstanding loans to Regeneron.

Goldman Sachs raised its estimates on Yahoo (YHOO) on accelerated online ads, and reiterates its outperform rating on the stock.

Kana Software (KANA) sees a 13 cents to 16 cents first-quarter loss (GAAP) on revenue of about $13 million, vs. a year ago's $18 million. Kana says it had anticipated "several" multi-million dollar sales that failed to close by Mar. 31.

Metrologic Instruments (MTLG) says first-quarter sales increased 24% to about $39.6 million, above the top end of the company's previously provided range.

Landry's Restaurant (LNY) raised the quarterly dividend by 100%, and says based on preliminary information, first-quarter numbers appear to be above expectations.


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