) posted 33 cents fourth-quarter earnings per share, vs. 33 cents a year ago, beating consensus estimates of 31 cents. The company saw a 9.8% rise in sales to $9.6 billion.
Computer processor maker Advanced Micro Devices (AMD
) expects fourth-quarter sales to be up just slightly from the third-quarter's $1.239 billion. Operating income is expected to be down "significantly" from third-quarter's $68.4 million. The company says prior guidance called for overall sales to increase, driven by strong processor sales. The shares were sharply lower Tuesday.
Morgan Stanley downgrades Hewlett-Packard (HPQ
) to underweight from equal-weight.
) posts 39 cents, vs. 39 cents fourth-quarter earnings per share from continuing operations despite a 12% revenue rise. The world's largest aluminum maker says higher input costs, especially for energy, petroleum-based products, and freight, coupled with the weak dollar, negatively affected several businesses.
European chipmaker STMicroelectronics (STM
) sees fourth-quarter gross margin of about 36.6%, vs. a previous expected range of 38 to 39%. The company cites foreign exchange, continued pricing pressure, and lower-than-expected manufacturing utilization and performances at certain factories.
) Multimedia Business Group will streamline its global R&D activities. The company notes its earlier set a target to bring the overall company research and development expenditure down to 9% to 10% of net sales by the end of 2006.
) posts 21 cents, vs. 14 cents fourth-quarter earnings per share (non-GAAP) on 41% higher operating revenue and 47% higher product sales. Earnings per share are a penny below First Call.
Taser International (TASR
) says during the first-half of 2005, it is possible the company may see some delays in orders as agencies test and evaluate potential new entrants.
) sees a 7-cent to 10-cent fourth-quarter loss, vs. its 27 cents to 31 cents earnings per share guidance. The company cites a pretax and non-cash impairment charge of $120 million or 25 cents/share and an 8-cent shortfall due to revenue recognition treatment on large contract and revenue drop.
) says 7.3% higher sales for the eight-week holiday period are below expectations. The company cites a weaker response to the Pottery Barn brand, and a year-over-year increase in pre-holiday gift cards. It reiterates its 93 cents to 97 cents fourth-quarter earnings per share.
Merrill reportedly upgrades Network Appliances (NTAP
) to buy from neutral.
) revises an anticipated commercial availability of its Lunesta brand eszopiclone for treatment of insomnia. It notes the FDA's process for formally classifying Lunesta as a Scheduled IV controlled substance is not yet complete.
) says based on conversations with major distribution customers, the company believes its revenue in March 2005 will improve compared to December.
) posts 4.6% higher December same-store sales, and 8.9% higher total sales.
Nortel Networks (NT
) completes its restatements of 2001 and 2002 financial statements, and a revision of 2003. The company posts 10 cents 2003 earnings per share, a 78-cent 2002 loss, and $8.08 2001 loss.
Infineon Technologies (IFX
) decides to terminate a deal to sell its fiber optics business to Finisar Corp. Infineon to assess its legal options to recover damages incurred and begin the necessary restructuring of its fiber optics business.
) says final analysis of the primary endpoint in its study of its Provenge in advanced prostate cancer did not show a statistically significant delay in time to disease progression in the overall group or in Gleason score subgroups.
) posts 1.3% higher December system-wide comparable sales and 2% higher comparable sales for franchise restaurants. It sees 29 cents fourth-quarter earnings per share, and $1.48 to $1.51 2005 earnings per share. S&P keeps its hold rating.
) agrees to acquire Santa Cruz, Calif.-based LightSurf for $270 million in Versign stock. LightSurf provides multimedia messaging and interoperability solutions for the wireless market worldwide.