Markets & Finance

Travelzoo Soars


Travel Website Travelzoo (TZOO) received approval from the Nasdaq to list its securities on the Nasdaq National Market. The shares are currently listed on the Nasdaq SmallCap Market. The "phase-up" to the National Market is expected to occur Wednesday, Aug. 18

Needham upgraded Corning (GLW) to strong buy from buy on solid demand in the liquid-crystal-display glass business.

Nobility Homes (NOBH) is seen higher on an expected increase in the mobile-home manufacturing business after the destruction of Hurricane Charley over the weekend. Champion Enterprises (CHB) and Fleetwood Enterprises (FLE) are also higher.

Roth Capital upgraded Isle of Capri (ISLE) to strong buy from buy. On Friday the company posted 34 cents Q1 EPS.

LifePoint Hospitals (LPNT) agreed to acquire Province Healthcare in a $1.7 billion deal. Terms: $11.375 cash and 0.2917-0.3447 share of the newly formed company for each Province share. J.P. Morgan downgraded LifePoint to underweight from neutral. S&P also downgraded the shares.

Ciphergen Biosystems (CIPH) announced the discovery of biomarkers, the development of a multi-marker pattern assay that shows promising results in the detection of early-stage ovarian cancer.

Piper Jaffray cut Sohu.com (SOHU) estimates. On Friday, the company said China Mobile suspended Sohu as a supplier of mobile multimedia-picture services for one year, effective Sept. 1.

Wal-Mart (WMT) reportedly still sees August same-store sales up 2% to 4%.

Retailer KMart Holding (KMRT) posted $1.54 second-quarter earnings per share, vs. a 6-cent loss despite 15% lower same-store sales and 15% lower total sales.

Lowe's (LOW) posted lower-than-expected 89 cents, vs. 75 cents second-quarter earnings per share on 5.1% higher same-store sales and a 17% net sales rise. The home-improvement retailer sees 65 cents to 66 cents third-quarter earnings per share, 3% to 4% higher same-store sales, and 15% higher total sales. It expects $2.69 to $2.71 fiscal 2005 earnings per share. CIBC World reiterates sector outperform. S&P reiterates accumulate.

Hospitality-services company Sysco (SYY) posted 43 cents, vs. 37 cents fourth-quarter earnings per share on a 17% sales rise. S&P maintains buy. BB&T Capital downgraded to hold from buy.

St. Paul Travelers (STA) is seen possibly lower with other insurers on liability exposure to claims from Hurricane Charley.

Embraer-Empresa (ERJ) posted 46 cents, vs. 3 cents second-quarter EPADS on a 63% sales rise.

A U.S. District Court rejected the Federal Trade Commission's request for a preliminary injunction blocking Arch Coal's (ACI) acquisition of Triton Coal.


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