Markets & Finance

Wild Oats Market Falls


Wild Oats Market (OATS) posted 1 cent, vs. 7 cents second-quarter earnings per share as pressure on margin and higher expenses offset 1.5% higher same-store sales and a 3.9% total sales rise. The grocery chain is disappointed with results, but believes the issues are short-term ones.

Priceline.com (PCLN) posted 29 cents, vs. 20 cents second-quarter earnings per share on an 8.2% revenue rise. The online travel site sees 25 cents to 30 cents third-quarter earnings per share (pro forma), and 13 cents to 17 cents in the fourth quarter. S&P keeps accumulate.

Ligand Pharmaceuticals (LGND) posted a 19-cent second-quarter loss, vs. a 17-cent loss as higher R&D costs offset a 39% higher total revenue rise. Ligand sees $235 million to $255 million in 2004 total revenue, and basic earnings per share of 12 cents to 17 cents, with the trend toward mid-range.

Vishay Intertechology (VSH) posted 22 cents, vs. 2 cents second-quarter earnings per share on a 20% revenue rise. Vishay notes due to the seasonality of the third-quarter's business, he doesn't expect to see any further sequential improvement in revenues or earnings per share until the fourth quarter.

Tyco International (TYC) posted 43 cents, vs. 27 cents third-quarter earnings per share (GAAP basis) on an 11% revenue rise. It sees 41 cents to 43 cents fourth-quarter earnings per share, and raised the 2004 earnings per share guidance to $1.61 to $1.63 (excluding the impact from restructuring, divestiture programs, and the early retirement of debt).

Qwest Communications (Q) posted a 43-cent second-quarter loss, vs. a 4-cent loss on a 4.3% operating revenue drop, noting the second-quarter 2004 results included an incremental charges of 27 cents. S&P keeps hold.

Martha Stewart Living Omnimedia (MSO) posted a 39-cent second-quarter loss, vs. 2 cents earnings per share on a 33% revenue drop. The media company sees a third-quarter loss of 50 cents, and says fourth-quarter results will reflect substantially reduced losses vs. the third quarter.

BEA Systems (BEAS) sees lower-than-expected second-quarter total revenue of $260 million to $263 million, with license revenue of $115 million to $117 milliob. S&P cut its estimates. Baird downgraded to neutral from outperform.

Tenet Healthcare (THC) posted a 91-cent second-quarter loss vs. a 42-cent loss on a 3.3% operating revenue drop. Tenet noted negative volume growth in second-quarter 2004. CFO Stephen Farber resigned. Also, Tenet reportedly received a subpoena from the U.S. Attorney in New Orleans.

Adobe Systems (ADBE) sees better-than-expected third-quarter earnings per share of 36 cents to 41 cents on revenue of $380 million to $400 million. S&P reiterates accumulate.


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