Markets & Finance

HP Shares Gain After Fiorina Resigns


Hewlett-Packard (HPQ) says Carly Fiorina has stepped down as chairman and CEO, effective immediately. The company cites differences on how to execute strategy. CFO Robert Wayman named CEO on an interim basis.

Cisco (CSCO) posted 21 cents, vs. 10 cents second-quarter earnings per share (GAAP) on a 12% revenue rise.

Merrill reportedly upgrades eBay (EBAY) to buy from neutral.

Krispy Kreme Dounuts (KKD) plans to reduce its workforce at its corporate, mix plant, equipment manufacturing, and distribution facilities by approximately 25%.

Prudential (PRU) posted 96 cents, vs. 64 cents fourth-quarter after-tax adjusted earnings per share for Finacial Services Businesses on a 16% revenue rise. The company sees $4.20 to $4.40 2005 earnings per share.

Computer Science Corp. (CSC) posted 82 cents, vs. 68 cents third-quarter earnings per share on a 5.6% revenue rise. The company sees $3.12 to $3.18 fiscal 2005 earnings per share.

Cigna Corp. (CI) posted $2.41, vs. $1.59 fourth-quarter operating earnings per share from continuing operations primarily on higher health care segment earnings. It sees $1.35 to $1.55 first-quarter operating earnings per share from continuing operations, including stock options expense, and $5.55 to $6.05 2005 first-quarter earnings per share.

The New York Times reports Neiman-Marcus (NMG.A) Chairman Richard Smith is thinking of selling his stock in the company.

UTStarcom (UTSI) posted 15% higher fourth-quarter sales. It sees a tax benefit for the fourth quarter and 2004. Due to an anticipated tax benefit, the company sees a fourth-quarter net loss narrower than initial guidance. It is to restate 2003 earnings per share and sees earnings per share increasing 4 cents to 12 cents.

Cheesecake Factory (CAKE) posted 26 cents, vs. 20 cents fourth-quarter earnings per share on a 3% same-store sales rise and 24% revenue rise. The company notes fourth-quarter 2004 earnings per share benefitted 2 cents from the receipt of property insurance settlement.

Blue Nile (NILE) posted 24 cents, vs. $1.27 fourth-quarter earnings per share on a 30% sales rise. The company notes fourth-quarter 2004 and fourth-quarter 2003 are not directly comparable due to accounting for income taxes. The company sees 10 cents to 12 cents first-quarter earnings per share and 67 cents to 72 cents 2005 earnings per share.

Guitar Center (GTRC) posted 95 cents, vs. 78 cents fourth-quarter earnings per share on a 19% sales rise. The company is to acquire Music & Arts Center for $90 million and assumption of $8 million in debt. The deal is expected to be accretive to 2005 earnings per share, before charges, and costs related to acquisition.

Dollar Thrifty (DTG) posted 5 cents fourth-quarter earnings per share, vs. a 33-cent loss on a 15% revenue rise. The company sees $2.00 to $2.20 2005 earnings per share on 6% to 7% growth in same-store rental days, flat to 2% increase in revenue per day, and the impact of franchise acquisitions completed in 2004.

Timberland (TBL) posted $1.29, vs. $1.10 fourth-quarter earnings per share on a 9.4% revenue rise. The company sees double-digit earnings per share and revenue growth in 2005.

United Auto Group (UAG) posted 56 cents, vs. 48 cents fourth-quarter earnings per share on a 19% revenue rise. It sees 44 cents to 48 cents first-quarter earnings per share and $2.32 to $2.39 2005 earnings per share.

Aon Corp. (AOC) posted 56 cents, vs. 65 cents fourth-quarter earnings per share despite a 3.3% revenue rise. The company says it remains a difficult environment in which to achieve meaningful revenue growth given industry pricing trends, decision to terminate contingent commission deals.

First Albany downgrades Cyberonics (CYBX) to neutral from buy. Yesterday the company posted a 3-cent third-quarter loss, vs. 6 cents earnings per share on 7.8% lower sales.

First Albany downgrades OSI Pharmaceuticals (OSIP) to neutral from buy. Yesterday the company posted a $1.02 December quarter loss, vs. a $1.03 loss (GAAP), noting it has changed its fiscal year end to Dec. 31 from Sept. 30.

La-Z Boy (LZB) posted better-than-expected 21 cents, vs. 29 cents third-quarter earnings per share despite 5.3% sales rise. The compny sees 26 cents to 30 cents fourth-quarter earnings per share, which includes a one-cent restructuring charge, up to a 2-cent potential loss from consolidation of Variable Interest Entities (VIEs).

Garmin (GRMN) posted 63 cents, vs. 47 cents fourth-quarter earnings per share from operations on a 30% sales rise. The company sees $2.30 to $2.38 2005 earnings per share from operations on sales of $890 million to $951 million.

Aramark (RMK) posted 38 cents, vs. 35 cents first-quarter earnings per share on an 11% sales rise. The company sees 25 cents to 27 cents second-quarter earnings per share on sales of $2.5 billion to $2.7 billion.

Bob Evans Farms (BOBE) posted 5.4% lower January same-store sales in "core" Bob Evans. It sees lower-than-expected 19 cents third-quarter earnings per share.

Playboy Enterprises (PLA) posted 43 cents fourth-quarter earnings per share, vs. a 26-cent loss despite a 1.6% revenue decline. The company sees 40 cents to 45 cents 2005 earnings per share, excluding stock-based compensation expense, on an expected 6% increase in revenues to about $350 million.


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus