Markets & Finance

JDS Uniphase Posts Loss


After the close of trading Wednesday, JDS Uniphase (JDSU) posted a first-quarter loss of 2 cents per share, vs. a 2-cent loss one year earlier, on a 32% revenue rise. The company missed analysts' estimates of a 1-cent loss. After rising in Wednesday's regular session, the shares declined in after-hours trading.

Procter & Gamble (PG) shares moved lower after the company posted 73 cents, vs. 63 cents first-quarter earnings per share on a 13% sales rise. P&G sees 5% to 7% second-quarter sales growth and is comfortable with the current analysts' earnings per share forecast. S&P reiterates its buy rating.

Halliburton (HAL) shares advanced after AG Edwards upgrades its rating from hold to buy. On Oct. 26, the company posted 9 cents third-quarter loss, vs. 13 cents earnings per share, despite a 15% revenue rise.

Cardinal Health (CAH) posted 91 cents, vs. 79 cents fourth-quarter earnings per share from continuing operations on an 11% revenue rise. The company expects a 10% to 15% earnings-per-share decline for the first half of fiscal 2005, with a decline of about 25% in the first quarter. S&P upgrades its rating to hold from sell.

Software company MicroStrategy (MSTR) posted $7.22 third-quarter earnings per share (GAAP)(including a tax benefit), vs. a $1.59 loss on a 42% revenue rise. The company sees 39 cents to 79 cents fourth-quarter earnings per share (GAAP) on $47.7 million to $57.4 million revenue. JP Morgan Securities upgrades the stock.

Comcast (CMCSA) posted 10 cents, vs. $1.41 third-quarter earnings per share, as the absence of a gain on discontinued operations offset a 12% revenue rise. The cable provider reaffirms its forecast for 10% 2004 revenue growth. S&P reiterates its hold rating.

Boeing (BA) posted 56 cents, vs. 32 cents third-quarter earnings per share on a 7.9% revenue rise. The commercial aircraft manufacturer raised its $2.25 to $2.45 2004 earnings-per-share guidance to $2.40 to $2.60, mostly due to a lower tax expense. It maintains $2.35 to $2.60 2005 earnings-per-share guidance.

Unilever (UN) posted 0.91 euro ($1.17) vs. 0.85 euro ($1.09) third-quarter earnings per share, despite a 4% revenue drop. The global consumer goods giant says it is dissatisfied with its performance and actions are being taken to improve market competitiveness of its products.

Cox Communications (COX) posted 11 cents third-quarter earnings per share, vs. a 35-cent loss on a 11% revenue rise. The broadband company reaffirmed its 11.5% to 12.5% 2004 revenue growth and expects operating cash flow growth to be at the low end of its previous 14% to 15% growth range.

Wireless-communications company Nextel Partners (NXTP) posted 12 cents third-quarter earnings per share, vs. a 9-cent loss on a 27% revenue rise. It raised 355,000 its 2004 net subscriber addition forecast to at least 360,000 and $1.25 billion service revenue to at least $1.28 billion.

Spacecraft-technology supplier Northrop Grumman (NOC) posted 80 cents, vs. 54 cents third-quarter earnings per share from continuing operations on an 11% sales rise.

Blockbuster (BBI) posted a $7.82 third-quarter loss, vs. 35 cents earnings per share as a $7.84 per share charge, investment spending and softness in the movie rentals offset a 1.8% revenue rise. The company sees fourth-quarter, 2004 profitability down significantly year-over-year. President and COO Nigel Travis resigns.

Metro-Goldwyn-Mayer (MGM) posted an 11-cent third-quarter loss, vs. a 13-cent loss (GAAP basis), despite a 12% revenue decline. S&P reiterates its hold rating.

Avaya (AV) posted 21 cents, vs. 15 cents fourth-quarter earnings per share on an 11% revenue rise.

Anthem (ATH) posted $1.70, vs. $1.38 third-quarter earnings per share on a 13% revenue rise. The healthcare provider sees fourth-quarter net income relatively consistent with its third-quarter. It raised its $6.95 to $7.05 2004 earnings per share forecast to $7.05 to $7.10 (including tax benefits). The company sees 2005 earnings per share of at least $7.60.

Veritas Software (VRTS) posted 22 cents, vs. 15 cents third-quarter earnings per share (GAAP) on an 11% revenue rise. S&P reiterates its buy rating.

Sirius Satellite (SIRI) posted a 14-cent third-quarter loss, vs. an 11-cent loss, as higher selling, general and administrative costs offset sharp revenue rise. The satellite radio company remains on track to reach 1 million subscribers by end of this year.

Black & Decker (BDK) posted $1.37, vs. 95 cents third-quarter earnings per share on a 15% revenue rise. It sees $1.53 to $1.58 fourth-quarter earnings per share from continuing opeartions, and $5.33 to $5.38 for 2004. The company sees $6.00 2005 earnings per share from continuing operations.

Sina (SINA) posted 27 cents, vs. 21 cents third-quarter earnings per share (GAAP) on a 65% revenue rise. It sees fourth-quarter revenue of $54.5 million to $55.5 million.


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