Markets & Finance

eBay Plummets on Missed Estimates


EBay (EBAY) posted lower-than-expected fourth-quarter earnings per share (GAAP) of 30 cents, vs. 21 cents, on 44% higher revenues. The company sees 32 cents to 33 cents first-quarter earnings per share (GAAP) on $1.01 billion to $1.03 billion in revenue, and $1.37 to $1.41 2005 earnings per share on $4.25 billion to $4.35B billion in revenue. It set a 2-for-1 stock split.

Qualcomm (QCOM) posted 30 cents, vs. 21 cents, first-quarter earnings per share (GAAP) on a 15% revenue rise. The company sees 24 cents to 26 cents second-quarter earnings per share (including a 1-cent loss tied to QSI segment) on $1.35 billion to $1.45 billion in revenue. It ups its fiscal 2005 earnings per share view to $1.15 to $1.19 (including the 1-cent QSI loss) on $5.8 billion to $6.3 billion in revenue.

Federated Department Stores (FD) is in preliminary talks to buy rival May Department Stores (MAY), according to The Wall Street Journal.

Citigroup (C) posted $1.02, vs. 91 cents, fourth-quarter earnings per share on a 9% revenue rise. It raises a quarterly dividend of 10%.

AT&T (T) posted 78 cents, vs. 43 cents, fourth-quarter earnings per share as an after-tax depreciation benefit offset a 10% revenue decline. The company sees $25 billion to $26 billion in 2005 revenue, vs. 2004's $30.5 billion. It expects a year-over-year decline of several hundred million dollars in small business revenue.

Ford (F) posted better-than-expected fourth-quarter earnings per share from continuing opearations (excluding special items) of 28 cents, vs. 30 cents, on a 2.6% sales decline.

Agilent Technologies (A) named William Sullivan president and CEO, effective Mar. 1, 2005. S&P reiterates its hold rating.

Sony Corp. (SNE) cut its 160 billion yen fiscal 2005 operating income forecast to 110 billion yen on operating revenue about 5% below its previous forecast.

Capital One Financial (COF) posted 77 cents, vs. $1.11, fourth-quarter earnings per share as higher marketing and provision expenses offset a 10% revenue rise. The company reaffirms its 2005 guidance of $6.60 to $7.00 earnings per share.

Continental Airlines (CAL) posted $3.12 fourth-quarter loss, vs. 61 cents earnings per share, as special items and higher fuel costs offset a 6.6% total revenue rise.

Macromedia (MACR) posted 20 cents, vs. 15 cents, third-quarter earnings per share on a 15% revenue rise. The company sees $108 million to $113 million in fourth-quarter revenue, and 15% to 17% pro forma operating profit margin. It sees fiscal 2006 revenues exceeding $500 million, with operating margin trending towards 20%.

Harley-Davidson (HDI) posted 71 cents, vs. 60 cents, fourth-quarter earnings per share on a 5.4% revenue rise. The company is to reduce suggested retail prices in 2005 on select motorcycle models in European markets.

Delta Air Lines (DAL) posted a $16.58 fourth-quarter loss, vs. a $2.69, loss on flat operating revenues. Excluding unusual items, the fourth-quarter 2004 loss was $5.88. The commercial airline cites high fuel prices and domestic yields that continue to decline.

Extreme Networks (EXTR) posted 8 cents second-quarter earnings per share, vs. a 5-cent loss, on a 20% revenue rise. The company expects third-quarter revenue to be flat to up 5% sequentially.

Symantec (SYMC) posted 22 cents, vs. 16 cents, third-quarter earnings per share (GAAP) on a 41% revenue rise. The company sees $690 million to $710 million in fourth-quarter revenue, 23 cents GAAP earnings per share, $2.57 billion in fiscal 2005 revenue, and 80 cents GAAP earnings per share. S&P reiterates its hold rating.

QLogic (QLGC) posted 46 cents, vs. 36 cents, third-quarter earnings per share (GAAP) on 9.6% higher revenues. Bear Stearns upgrades to outperform from peer perform.

Restoration Hardware's (RSTO) founder and chairman, Stephen Gordon, resigned to assume position of CEO of Sundance.

Sherwin-Williams (SHW) raised its its 48 cents to 52 cents fourth-quarter earnings per share forecast to 57 cents. He says fourth-quarter sales increased by a better-than-expected 17% due to better-than-expected domestic, foreign sales volume, and 2004 acquisitions.

UnitedHealth Group (UNH) posted $1.09, vs. 83 cents, fourth-quarter earnings per share on a 40% revenue rise. The company raises 2005 earnings per share guidance to $4.75 to $4.80.

Bebe Stores (BEBE) posted 39 cents, vs. 23 cents, second-quarter earnings per share on 27% higher same-store sales, and 36% higher total sales. The company sees 11 cents to 14 cents third-quarter earnings per share on comparable sales growth in the mid-teens range. It expects to open 20 new stores in fiscal 2005.


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