Markets & Finance

Research In Motion Soars


Research In Motion (RIMM) posted 28 cents first-quarter EPS, vs. a 5-cent loss on a sharp revenue rise. The BlackBerry device maker raised the second-quarter guidance to 32 cents to 37 cents EPS on revenue of $290 million to $310 million, and sees 35 cents to 40 cents third-quarter EPS on revenue of $340 million to $360 million. S&P, Banc of America, and Morgan Stanley raised their estimates.

Taser International (TASR) was awarded a contract from the U.S. military for Taser conducted energy weapons and accessories that totaled over $1.8 million.

Electro Scientific (ESIO) posted 54 cents fourth-quarter EPS, vs. a 75-cent loss on a sharp sales rise and wider gross margin. It expects orders in the first quarter to be in the range of $75 million to $485 million. S&P put its estimates under review and maintains the hold rating. D.A. Davidson reiterates the buy rating.

Thoratec (THOR) sees a 1-cent second-quarter loss (GAAP) on $40 million to $41 million in revenue. Thoratec cited the delay of some of its Destination Therapy initiatives. Lazard Freres and Adams Harkness downgraded.

AutoZone (AZO) says same-store sales through the first seven weeks of the fourth quarter were down 1%, while retail same-store sales were down 3%. Advest cut its estimates, and maintains the neutral rating.

Imax (IMAX) is seen higher on reports it is in talks with Sony Pictures to digitally remaster the "Spider Man 2" movie for its giant screen theatres.

Sportsman's Guide (SGDE) acquired The Golf Warehouse, an online and catalog retailer of golf equipment, apparel, and accessories, for about $30 million cash. It raised the 2004 revenue guidance to 10% to 12% growth and upped the EPS estimate to 8 cents to 10 cents.

Scotts (SMG) expects fiscal 2004 adjusted net income to grow 13% to 16%. It reported sales growth of 7% to 8%, as says free cash flow was higher-than-anticipated. S&P reiterates accumulate.

GTech Holdings (GTK) cut the second-quarter EPS estimate to a range of 70 cents to 75 cents, and cut the fiscal 2005 estimate to $2.85 to $2.95. It says a judge granted an injunction ordering 30% of payments due to GTech from Brazil's Caixa Economica Federal be withheld. CIBC World and Citigroup downgraded. S&P keeps the hold rating.

Sears, Roebuck (S) will buy up to 54 Kmart (KMRT) stores for $621 million. Last month, Kmart agreed to sell up to 24 stores to Home Depot (HD).

Cereal manufacturer General Mills (GIS) posted 74 cents, vs. 64 cents fourth-quarter EPS from operations on a 10% revenue rise. It sees $2.75 to $2.80 fiscal 2005 EPS, including 10 cents to 15 cents in expected costs.

Emmis Communications (EMMS) posted $36.9 million, vs. $28.6 million first-quarter operating income on a 14% revenue rise.

Mamma.com (MAMA) inked a deal for a $16.6 million private placement of about 1.5 million shares.

Inet Technologies (INET) agreed to be acquired by Tektronix (TEK) in a deal valued at about $325 million. Terms: $12.50 per Inet share consisting of $6.25 in cash and about $6.25 in Tekronix stock.

Lexar Media (LEXR) cut the second-quarter revenue guidance to $155 million to $160 million. It now sees a second-quarter net loss of $17 million to $19 million. RBC Capital downgraded to underperform from sector perform.


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