Markets & Finance

Avon Falls

Posted on October 28, 2004

) posted 37 cents, vs. 28 cents third-quarter earnings per share on an 11% revenue rise. For fourth-quarter, the company sees 58 cents to 60 cents earnings per share on double-digit sales growth in both local currencies and dollars. It raised its its $1.72 2004 earnings per share forecast to $1.75 to $1.77. S&P keeps its buy rating.

U.S.I. Holdings (USIH

) says it has been advised by a representative of the New York Attorney General that it should expect to receive a subpoena for information in connection with its continued investigation of the insurance industry.

Clear Channel (CCU

) posted 44 cents, vs. $1.03 third-quarter earnings per share on a 4.1% revenue rise. The company sees 2004 operating income increasing in the mid-single digits and earnings per share increasing in mid-to-high teens (excluding special items). S&P reiterates its hold rating.

DreamWorks Animation (DWA

) continued to rise Friday after the company's initial offering of 29 million Class A shares Thursday at $28.

Bristol-Myers Squibb (BMY

) posted 38 cents, vs. 47 cents third-quarter earnings per share, despite a 1% sales rise. The pharamceutical company cuts its $1.43 to $1.48 2004 earnings-per-share guidance to $1.39 to $1.44.

Merck (MRK

) was informed by the FDA in a letter that before approval of its New Drug Application for Arcoxia can be issued, additional safety and efficacy data is required.

Aon (AOC

) posted 36 cents, vs. 45 cents third-quarter earnings per share from continuing operations despite a slight revenue rise. It withdrew its previous 2004 earnings per share from continuing operations guidance of $2.20 due to lower-than-expected revenue growth.

Schering-Plough (SGP

) was granted a six-month priority review status by the FDA to its supplemental New Drug Application for Temodar Capsules for treatment of gliomas, a form of brain tumor.

Ingram Micro (IM

) posted 21 cents, vs. 9 cents third-quarter earnings per share (non-GAAP) on a 16% revenue rise. It says it received an informal inquiry from the SEC during the third-quarter, which thinks relates to transactions with Network Associations from 1998 to 2000. It sees 31 cents to 35 cents fourth-quarter earnings per share.

Archer-Daniels-Midland (ADM

) posted 41 cents, vs. 23 cents first-quarter earnings per share on a 13% revenue rise.

Sapient (SAPE

) posted 6 cents, vs. 1 cent third-quarter earnings per share on 44% higher service revenue.

McAfee (MFE

) posted 18 cents, vs. 15 cents third-quarter earnings per share (pro forma) on a 28% revenue rise. It sees 21 cents fourth-quarter earnings per share on better-than-expected revenue of $218 million to $222 million. It raises 2005 revenue guidance to $820 million to $850 million.

DoubleClick (DCLK

) posted 12 cents, vs. 4 cents third-quarter earnings per share (GAAP) on 8.2% higher revenues. It sees 1 cent to 4 cents fourth-quarter earnings per share (GAAP) on $72 million to $77 million in revenues. CIBC World downgraded its rating to sector underperform.