Markets & Finance

Dell Shares Rise


Dell (DELL) posted 37 cents, vs. 28 cents first-quarter earnings per share on a 16% revenue rise. The company sees $13.6 billion to $13.8 billion second-quarter revenue and 37 cents to 39 cents earnings per share. It notes sales outside the U.S. increased 21% year-over-year. S&P reiterates strong buy.

Delphi Corp. (DPH) posted a 74-cent first-quarter loss (GAAP), vs. 9 cents earnings per share on a 6.8% revenue drop. The company notes impact from inability to record non-cash deferred tax benefit of U.S. losses, high commodity costs, and low production volumes. It sees $7.2 million to $7.4 million second-quarter revenue.

Taser International (TASR) says a recent study published in a supplemental edition of Academic Emergency Medicine found no significant cardiac dysrhythmias in 24 healthy humans, immediately following electrical exposure from its latest model stun gun TASER X26.

Tiffany & Co. (TIF) posted 27 cents, vs. 25 cents first-quarter earnings per share on a 12% net sales rise. The company sees $1.45 to $1.55 2005 earnings per share on 8% to 10% 2005 net sales rise. It says earnings per share could be at the lower end of range if same-store sales in Japan fall by a single-digit percentage.

Sanofi-Aventis (SNY) posted $1.34 (1.06 euro), vs. $1.05 (0.83 euro) first-quarter earnings per share on an 8.4% net sales rise. It sees 2005 earnings per share in line with 2004, comparable-basis net sales growth ahead of world pharmaceutical market growth.

Symantec Corp. (SYMC) and Altiris (ATRS) settle all pending patent litigation and enter into a patent cross-license deal. Symantec is to pay a $10 million fee to Altiris.

Nvidia Corp. (NVDA) posted 36 cents, vs. 12 cents first-quarter earnings per share on a 24% revenue rise.

Maytag Corp. (MYG) cuts its quarterly dividend by 50% to 9 cents. Says move should allow the company more financial flexibility to fund its restructuring plan, and have additional cash available for debt reduction and pension funding.

Greg Manning Auctions (GMAI) posted lower-than-expected 29 cents, vs. 23 cents first-quarter earnings per share on a 16% revenue rise.

Toro Co. (TTC) raised second-quarter earnings per share guidance to $1.28 to $1.33. The company sees $625 million to $630 million 2005 revenue and cites stronger shipments of Professional products and contribution from Hayter Ltd. to international sales. S&P maintains hold.

Pep Boys (PBY) declines after it posted a 4-cent first-quarter loss, vs. 25 cents earnings per share on slightly lower sales. S&P maintains sell.

JP Morgan upgrades Lubrizol Corp. (LZ) to overweight from neutral.

Sigma Designs (SIGM) does not expect its first quarter to be profitable. It sees $6.0 million to $6.5 million net revenue.

Westell Technologies (WSTL) posted 40 cents, vs. 28 cents fourth-quarter earnings per share on a 26% revenue rise. The company sees $73 million to $76 million first-quarter revenue and 6 cents to 7 cents GAAP earnings per share, including a provision for tax expense. Baird reportedly upgrades to outperform from neutral.

LTX Corp. (LTXX) posted $39.1 million third-quarter orders, up 25% sequentially. It sees a 10-cent to 12-cent fourth-quarter loss on $36 million to $38 million in revenue.

Pacific Sunwear (PSUN) posted 23 cents, vs. 19 cents first-quarter earnings per share on a 3% same-store sales rise and 14% total sales rise. It sets a $100 million stock buyback. S&P maintains hold.

DRS Technologies (DRS) posted 61 cents, vs. 60 cents fourth-quarter earnings per share on a 6.5% revenue rise. The company sees $2.35 to $2.45 fiscal 2006 earnings per share on $1.45 billion to $1.50 billion in revenue. It declares an initial quarterly dividend of 3 cents for the first quarter.

Guitar Center (GTRC) sees $395.7 million to $406.4 million in second-quarter sales and 39 cents to 44 cents earnings per share, including a one-time charges of 7 cents associated with the acquisition of Music & Arts Center. The company ssees $1.77 billion to $1.81 billion 2005 sales and $2.59 to $2.74 earnings per share including charges.

Jackson Hewitt Tax Services (JTX) raises $220 million to $225 milllion fiscal 2005 revenue forecast to $229 million to $232 million and $1.15 to $1.19 earnings per share to $1.30 to $1.33.

Fossil Inc. (FOSL) sets a 1 million share buyback.


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