) sees 37 cents third-quarter EPS on $3.69 billion in third-quarter net revenue, up 21% in U.S. dollars. It sees 25 cents to 29 cents fourth-quarter EPS (GAAP) on $3.4 billion to $3.5 billion in revenue. Prudential upgraded to overweight from neutral. S&P maintains hold.
Jabil Circuit (JBL
) posted 19 cents, vs. 2 cents third-quarter EPS (GAAP) on a 33% net revenue rise. It sees 21 cents to 23 cents fourth-quarter EPS, and 30 cents to 32 cents in the first quarter. Jabil named Forbes Alexander as CFO. S&P keeps accumulate. Schwab SoundView cut its estimates.
Winnebago Industries (WGO
) posted better-than-expected 51 cents, vs. 25 cents third-quarter EPS on a 55% revenue rise, and set a $30 million stock buyback.
Ford Motor (F
) raised the 30 cents to 35 cents second-quarter EPS from continuing operations (excluding items) guidance to 45 cents to 50 cents. It now sees $1.65 to $1.75 2004 EPS from continuing operations (excluding items) vs. the previous $1.50 to $1.60. S&P raised its estimates and keeps hold.
Atmos Energy (ATO
) will acquire TXU Gas Co., a unit of TXU Corp. (TXU
), in an all-cash deal valued at $1.925 billion.
CBRL Group (CBRL
) Sees 65 cents to 68 cents fourth-quarter EPS, and a mid-single digit increase in total revenue. CBRL anticipates fourth-quarter comp-store retail sales down 1% to 3%.
) posted 33 cents, vs. 34 cents first-quarter EPS despite a 13% higher total sales rise. CarMax expects second-quarter comp-store used unit sales in range of -5% to +1%, and sees 30 cents to 35 cents second-quarter EPS. It sees volatility in used car sales, and takes a cautious second-quarter view.
L-3 Communications (LLL
) agreed to acquire Cincinnati Electronics for about $172 million in cash. Separately, it agreed to acquire Brashear for about $36 million in cash. Both acquisitions are expected to be slightly accretive to results for 2004.
Commonwealth Industries (CMIN
) agreed to be acquired by Imco Recycling (IMR
). Terms: 0.815 Imco shares per Commonwealth share. Imco will own 54%, and Commonwealth will own 46% of the merged entity.
J.M. Smucker (SJM
) posted 44 cents, vs. 46 cents fourth-quarter EPS on a 1.1% sales drop, as well as higher costs, expenses, and charges.