Markets & Finance

Wal-Mart Slips


Wal-Mart (WMT) posted 75 cents, vs. 63 cents fourth-quarter earnings per share on 10% higher net sales. The retailing giant reportedly sees 56 cents to 58 cents first-quarter earnings per share and $2.70 to $2.74 fiscal 2006 earnings per share. The Washington Post reports the Connecticut Attorney General Richard Blumenthal is to probe Wal-Mart on child labor allegations.

Hewlett-Packard (HPQ) posted 37 cents, vs. 35 cents first-quarter earnings per share (non-GAAP) on a 10% revenue rise. The company sees 35 cents to 37 cents second-quarter earnings per share on revenue of $21.2 billion to $21.6 billion. S&P keeps hold and notes second-quarter guidance below model.

RadioShack (RSH) posted 81 cents, vs. 77 cents fourth-quarter earnings per share on a 3% same-store sales. The company initiates 39 cents to 41 cents first-quarter earnings per share. It lowers 2005 earnings per share guidance by 7 cents to $2.34 to $2.40. S&P reiterates hold.

Nextel Communications (NXTL) posted 41 cents, vs. 55 cents fourth-quarter earnings per share on a 17% revenue rise. The company sees $1.75 2005 earnings per share (adjusted), excluding the adoption of SFAS 123.

Target (TGT) posted 90 cents, vs. 79 cents fourth-quarter earnings per share from continuing operations on 5.4% higher same-store sales.

Dolby Laboratories's (DLB) initial 27.5 million shares were offered at $18.

Elan Corp. (ELN) and Biogen Idec (BIIB) announce Affirm monotherapy trial achieved two-year primary endpoint of slowing progression of disability in patients with relapsing forms of multiple sclerosis.

Medtronic (MDT) posted 46 cents (excluding a charge), vs. 38 cents third-quarter earnings per share on a 15% revenue rise.

Brocade Communications (BRCD) posted 10 cents, vs. 3 cents first-quarter earnings per share (non-GAAP) on an 11% revenue rise. Piper Jaffray reportedly upgrades to market perform from underperform.

Dendreon (DNDN) announces that Provenge, its investigational immunotherapy for treatment of prostate cancer, significantly improved survival in men with asymptomatic, metastatic androgen-independent prostate cancer.

Monsanto (MON) agrees to buy Emergent Genetics, a leading cotton seed company, for $300 million. It now sees $1.85 to $2.00 fiscal 2005 earnings per share from continuing operations. S&P reiterates a strong sell.

Sanmina-SCI (SANM) posted a lower-than-expected 81 cents, vs. 77 cents fourth-quarter earnings per share on 3% higher same-store sales. The company sets 39 cents to 41 cents first-quarter earnings per share guidance. It lowers 2005 earnings per share guidance to $2.34 to $2.40.

Medtronic (MDT) posted 46 cents (excluding a charge), vs. 38 cents third-quarter earnings per share on 15% revenue rise. S&P reiterates hold.

Baker Hughes Inc. (BHI) posted 53 cents, vs. 30 cents fourth-quarter earnings per share (GAAP) on 18% higher revenues. The company sees 39 cents to 42 cents first-quarter earnings per share from continuing operations on 14% to 16% revenue growth and $1.80 to $1.95 fiscal 2005 earnings per share on 9% to 11% revenue growth.

Panera Bread (PNRA) posted 45 cents, vs. 34 cents fourth-quarter earnings per share on a 35% revenue rise. The company sees 42 cents to 43 cents first-quarter earnings per shar and $1.52 to $1.57 2005 earnings per share. S&P reiterates buy.

Bally Total Fitness (BFT) says the U.S. Attorney for District of Columbia requests information in connection with a criminal investigation being conducted by that office, following recent disclosure of results of an Audit Committee investigation.

FTI Consulting (FCN) posted 27 cents, vs. 34 cents fourth-quarter earnings per share (before charges) as higher costs offset a 9% revenue rise. It sees $1.20 to $1.30 2005 earnings per share on revenue of $460 million to $480 million.

Advance Auto Parts (AAP) posted 46 cents, vs. 38 cents fourth-quarter earnings per share from continuing operations on a 3.4% sales rise. The company sees 85 cents to 90 cents first-quarter earnings per share and $3.00 to $3.10 2005 earnings per share.


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