) to outperform from in-line, and downgraded Eaton (ETN
) to in-line from outperform.
Possis Medical (POSS
) cut the fiscal 2005 estimate to 70 cents to 82 cents earnings per share on $85 million to $95 million revenue, from 83 cents to 96 cents earnings per share on $92 million to $98 million revenue. Possis cited disappointing study results involving its AngioJet blood clot remover. First Albany downgraded.
Sanderson Farms (SAFM
) posted lower-than-expected $1.69, vs. 78 cents third-quarter earnings per share on a 27% revenue rise. Sanderson says market prices for corn and soybean meal, its primary feed ingredients, increased 15.8% and 46%, respectively. Sanderson cut the fiscal 2004 earnings per share estimate to $4.85 to $5.35.
Perry Ellis (PERY
) posted a 29-cent second-quarter loss, vs. a 36-cent loss on a 36% revenue rise. The apparel maker expects fiscal 2005 results to be in line with the previous guidance.
Schwab Soundview upgraded Synaptics (SYNA
) to outperform from neutral.
Prudential downgraded Abercrombie & Fitch (ANF
) to neutral from overweight.
H.J. Heinz (HNZ
) posted 55 cents, vs. 53 cents first-quarter earnings per share from continuing operations on a 5.3% revenue rise. Analysts had expected 55 cents earnings per share, on average.
General Electric (GE
) plans to expand its retail banking operations in emerging European and Asian markets, and is becoming a more formidable rival for Citigroup (C
), according to The Wall Street Journal.
), the largest Canadian software maker, bid $52.2 million to acquire Frango, a Stockholm-based company specializing in consolidation and financial-reporting solutions.
Transportation and trucking company Yellow Corp. (YELL
) says overall business trends remain consistent with its internal forecast for the third quarter. It expects third-quarter earnings per share to be at least within the previously guided range of $1.20 to $1.25.
Infineon Technologies (IFX
) sees the global semiconductor market growing over 22% this year. The head of U.S. operations told German newspaper Die Welt that there are plans to expand in the U.S., particularly in the memory-chip sector, according to Standard & Poor's European MarketScope.
The government of Ecuador reportedly may terminate Occidental Petroleum's (OXY
) right to drill in that country.
Hair-salon chain Regis (RGS
) posted 59 cents, vs. 50 cents fourth-quarter earnings per share on 1.5% higher same-store sales and 13% higher consolidated revenue. Regis maintains the fiscal 2005 guidance for $2.43 to $2.47 fiscal 2005 earnings per share on a 1% to 2% same-store sales rise and 7% to 8% higher revenue.
Interstate Bakeries (IBC
) says due to a recent decision to close two bakeries, it estimates it will take about a $7.7 million to $9.9 million first-quarter restructure charge.