Markets & Finance

Amazon.com Declines


Verizon Communications (VZ) posted 63 cents first-quarter earnings per share, vs. 43 cents a year ago, on 6.6% operating revenue rise, beating analysts' estimates of 60 cents.

InfoSpace (INSP) posted 45 cents, vs. 15 cents, first-quarter earnings per share, excluding a gain from a litigation settlement, on an 81% revenue rise. The company sees 36 cents to 39 cents second-quarter earnings per share, and $1.75 to $1.95 2005 earnings per share. First Albany reportedly downgraded to neutral from buy.

Amazon.com (AMZN) posted 18 cents, vs. 26 cents, first-quarter earnings per share as $56 million income tax expense offset a 24% sales rise. The online retailer sees second-quarter sales of $1.675 billion to $1.825 billion, and operating income of $50 million to $80 million. It also sees $8.175 billion to $8.675 billion in 2005 sales and operating income of $395 million to $510 million.

European chipmaker STMicroelectronics (STM) posted a 3-cent first-quarter loss, vs. 8 cents earnings per share, despite a 2.7% revenue rise. The company notes revenue at the lower end of guidance as stronger seasonal factors and price pressure impacted several application markets. It sees second-quarter sales up 1% to 7% from first-quarter.

Aflac Inc. (AFL) posted 66 cents, vs. 55 cents first-quarter operating earnings per share on 8.5% higher total revenue. S&P reiterates buy. Citigroup upgrades to hold from sell.

Visteon Corp. (VC) posted a $1.49 first-quarter loss, vs. 16 cents earnings per share, on higher steel, aluminum, copper, resin costs, and flat revenue.

Oil-services company Baker Hughes (BHI) posted 53 cents, vs. 28 cents, first-quarter earnings per share on a 19% revenue rise. The company sees 51 cents to 53 cents second-quarter earnings per share, and $2.20 to $2.30 2005 earnings per share.

Corning (GLW) posted 17 cents, vs. 4 cents, first-quarter earnings per share on a 24% revenue rise. The company sees 17 cents to 19 cents second-quarter earnings per share on sales of $1.08 billion to $1.13 billion.

Gilead Sciences (GILD) says preliminary results from a bioequivalence study of 1st formulation of Truvada-Sustiva indicate efavirenz levels in blood are lower than those of 600 mg dose of Sustiva alone, do not meet definition of bioequivalence.

Plantronics (PLT) posted 56 cents, vs. 42 cents, fourth-quarter earnings per share on a 22% revenue rise. The company sees first-quarter earnings per share of 43 cents to 46 cents. S&P maintains buy.

WellPoint (WLP) posted $1.97, vs. $2.08, first-quarter earnings per share on sharply higher revenue. He notes first-quarter 2004 earnings per share including 32 cents in tax benefits, and 15 cents in net realized investment gains. It raises $1.90 second-quarter earnings per share forecast to $1.92, and $7.75 2005 earnings per share to $7.94.

VCA Antech (WOOF) raises 2005 guidance to 87 cents to 89 cents earnings per share on revenue of $779 million to $788 million. The company sees 25 cents to 26 cents second-quarter earnings per share on revenue of $200.4 million to $203.7 million. S&P reiterates strong buy.

Netease.com (NTES) posted 53 cents first-quarter earnings per ADS on a 58% revenue rise. First-quarter net profit rose on a 48% rise.

Manhattan Associates (MANH) posted in-line 18 cents, vs. 20 cents, first-quarter earnings per share (adjusted) as higher costs offset a 9.7% total revenue rise. The company sees second-quarter earnings per share of 22 cents to 26 cents, and 2005 earnings per share of 88 cents to 94 cents. S&P keeps hold, raises estimate.

Security systems manufacturer OSI Systems (OSIS) sees a 17-cent to 19-cent third-quarter loss per share after Spacelabs-related retention and amortization expenses of about 4 cents. The company says all business units are expected to achieve operating profits, with the exception of the Security unit.

Station Casinos (STN) posted 59 cents first-quarter earnings per share, vs. a 48-cent loss, on a 14% revenue rise. The company sees 61 cents to 65 cents second-quarter earnings per share, 50 cents to 54 cents third-quarter earnings per share, and 61 cents to 65 cents fourth-quarter earnings per share. It sees $2.67 to $2.86 2006 earnings per share.

Specialty mattress company Select Comfort (SCSS) posted 22 cents, vs. 18 cents, first-quarter earnings per share on a 23% sales rise. The company raises 2005 earnings per share guidance to 98 cents to $1.06.


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