Markets & Finance

IBM Results Beat Estimates


After the close of trading Tuesday, IBM Corp. (IBM) posted fourth-quarter earnings per share from continuing operations of $1.81, vs. $1.56, on a 6.9% increase in revenue.

Also after Tuesday's closing bell, Motorola (MOT) posted 27 cents fourth-quarter earnings per share, vs. 18 cents, and $8.84 billion in sales, a 27% increase. The company predicts as much as $7.9 billion in sales for the first quarter of 2005.

Yahoo (YHOO) also reported results after Tuesday's close, posting 13 cents first-quarter earnings per share, excluding a one-time gain, vs. 5 cents, and 2004 earnings per share of 58 cents, vs. 18 cents. The company reported quarterly sales of $1.078 billion, an increase of 62% from the same period a year ago.

Shares of NCR Corp. (NCR) gained Tuesday after the company said it sees better-than-expected fourth-quarter revenue of $1.79 billion, and GAAP EPS greater than $1.20. The company cites double-digit revenue growth in its Teradata Data Warehousing, Financial Self Service, and Retail Store Automation businesses. S&P keeps hold.

Alcan (AL) sees fourth-quarter operating earnings per share down about 30% from the third quarter, reflecting a negative impact of normal seasonal effects, a falling dollar, higher fuel, and energy-related costs.

May Department Stores' (MAY) Gene Kahn resigns as chairman and CEO. JP Morgan and Banc of America reportedly upgrade.

AmeriTrade Holdings (AMTD) posted 22 cents, vs. 17 cents first-quarter earnings per share on a 22% revenue rise. The company raises its fiscal 2005 earnings per share guidance to 77 cents to 90 cents.

Wyeth (WYE) rises after the pharmaceutical company says it has been in talks with attorneys representing number of individuals who opted out of Natioanl Diet Drug Settlement. S&P says this may provide the framework for a cap on total "Diet Drug" liabilities.

Krispy Kreme Dounuts (KKD) may experience a fourth-quarter loss due to a sales drop, regulatory, and legal costs. The company names Stephen Cooper CEO, as Scott Livengood retired as Chairman, President and CEO. Steven G. Panagos is named President and COO. S&P keeps its hold rating.

3M Corp. (MMM) posted 91 cents, vs. 77 cents fourth-quarter earnings per share on a 7.9% sales rise. The company sees $1.00 to $1.02 first-quarter earnings per share, and $4.15 to $4.25 2005 earnings per share.

PetsMart (PETM) falls after it sees 5% fourth-quarter same store sales growth on a slower-than-expected holiday selling season. The pet supply retailer sees $1.16 to $1.17 2004 earnings per share, including a previously announced after-tax gain of $3.6 million from a legal settlement. S&P keeps its hold rating.

Parker-Hannifin (PH) posted $1.41 (including 47 cents related to operations, and the sale of the company's Wynn Oil specialty chemicals business), vs. 47 cents second-quarter earnings per share on a 22% sales rise. The company sees $1.10 to $1.30 third-quarter earnings per share, and $4.75 to $5.15 fiscal 2005. Second-quarter results were seen as disappointing.

Georgia-Pacific (GP) sees 45 cents to 50 cents fourth-quarter earnings per share, excluding items. The company cites lower-than-expected performance at packaging, building products segments, and higher costs for stock compensation expenses. S&P maintains its sell rating.

Nike (NKE) says Philip H. Knight, co-founder and Chairman, converted 5.7 million of Nike Class A shares to the same number of Class B shares and enters into a pre-arranged sales plan for 5.7 million Class B shares.

Oracle (ORCL) says its PeopleSoft integration plan is proceeding on schedule, and it will be reducing the size of its combined workforce to 50,000, a reduction of about 5,000.

Rewards Network (IRN) sees 7 cents to 9 cents fourth-quarter earnings per share on $82 million in sales. It says disappointing performance is largely due to weaker-than-expected sales, driven by fewer restaurant merchants, fewer transactions, and lower average transaction amount.

Technology Research (TRCI) sees third-quarter revenue up 30% to 35% sequentially, however, lower margins for air conditioner products will impact its level of profitability.

Ashworth (ASHW) seeks from the SEC an extension of time to file its fiscal 2004 Annual Report on Form 10-K, and expects to be in position to file report by Jan. 31. It sees no significant changes to its earnings per share reported in its Dec. 16, 2004 earnings per share release.

John Wiley Sons (JW.A) to repurchase 1 million shares from several entities associated with the Bass family of Fort Worth, Texas.

Columbus McKinnon (CMCO) sells property that includes a 116,000 square foot building in the Greater Chicago area for $3.675 million. It sees a favorable effect to fourth-quarter net income of $2.65 million, or about 18 cents per share.


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