Markets & Finance

Novellus Climbs


S&P raised the second-quarter revenue and earnings forecasts on Novellus Systems (NVLS) after the company raised its outlook in the mid-quarter update. S&P reiterates accumulate. Goldman Sachs raised its estimates.

Blue Coat System (BCSI) posted lower-than-expected 20 cents fourth-quarter earnings per share vs. a 10-cent loss (non-GAAP) on a 79% revenue rise. The provider of web security solutions sees 20 cents to 21 cents first-quarter earnings per share (non-GAAP) on 7% to 8% revenue growth.

Citigroup keeps buy on National Processing (NAP), after the company's board said it is reviewing various alternatives, including a potential sale of the company. Citigroup believes a sale makes sense.

Dr. Reddy's Labs (RDY) posted 5 cents, vs. 19 cents fourth-quarter earnings per ADS as lower gross margin and higher operating costs offset 12% revenue growth.

Chico's (CHS) posted 40 cents, vs. 27 cents first-quarter earnings per share on 20% higher same-store sales and 52% higher total sales. The women's retailer says May comp sales growth is currently in the high teens.

Frontier Airline (FRNT) posted a 16-cent fourth-quarter loss, vs. a 44-cent loss on a 45% revenue rise.

JMP Securities downgraded Manugistics (MANU) to market perform from strong buy.

Pilgrim's Pride (PPC) says routine blood tests indicate an avian influenza infection has been found in a a 52-week old commercial chicken breeder flock. The flock was destroyed. The company believes this development will not have a material impact on net income.

Banc of America views Intel 's (INTC) recent stock price weakness as a buying opportunity, and has a $35 12-month target.

A jury unanimously found Warner-Lambert, which supplied the diabetes drug Rezulin before Pfizer (PFE) acquired Warner, was not liable for the deaths of two long-time diabetes sufferers.

Goodyear Tire (GT) says U.S. and European credit lenders amended their terms to extend until Jun. 30 its deadline for filing its first-quarter 10-Q. Hence, the filing delay won't prevent Goodyear from accessing credit facilities and obtaining letters of credit.


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