Markets & Finance

Broadcom Shares Jump


Broadcom (BRCM) shares climbed Friday after the company posted second quarter earnings per share before items of 34 cetns, vs. 35 cents one year earlier, on a 5.7% revenue decline. Broadcom sees third quarter revenue of $660 million to $665 million. S&P raised its estimates and target price, reiterating its hold recommendation. Needham upgraded the shares to hold from underperform.

Sandisk (SNDK) posted better-than-expected second quarter EPS of 37 cents, vs. 38 cents, as higher selling, general and administrative expenses offset a 19% revenue rise. Citigroup upgraded the shares to buy from sell. S&P reiterates hold.

Google (GOOG) posted second quarter earnings per share (GAAP basis) of $1.19, vs. 30 cents one year earlier, on a sharp revenue rise. S&P raises estimate, reiterates hold.

Microsoft (MSFT) posted fourth quarter EPS of 33 cents, vs. 28 cents, on a 9% revenue rise. The company sees fiscal 2006 EPS of $1.27 to $1.32 on $43.7 billion to $44.5 billion in revenue. S&P reiterates strong buy.

Archipelago Holdings (AX) and the New York Stock Exchange, Inc. (NYSE) entered into a merger agreement whereby a new holding company will be named NYSE Group Inc. Terms: NYSE holders to get $300,000 in cash and shares of stock in the new company.

Xilinx (XLNX) posted first quarter EPS of 21 cents, vs. 26 cents, on 4% lower revenue. S&P reiterates hold.

Citigroup reportedly upgraded U.S. Steel (X) to buy from sell.

Genesis Microchip (GNSS) posted first quarter EPS (GAAP basis) of 6 cents, vs. a 20-cent loss, on a 13% revenue rise. The company sees $66 million to $71 million in second quarter revenue.

Cerner (CERN) posted second quarter EPS of 51 cents, vs. 38 cents, on a 21% revenue rise. It raised its $2.10 to $2.14 2005 EPS estimate, on $1.09 billion to $1.11 billion in revenue, to $2.13 to $2.16 on $1.12 billion to $1.14 billion.

Instinet Group (INGP) posted second quarter EPS from continuing operations of 2 cents, vs. 3 cents, on a 7% drop in sales.

Vitesse Semiconductor (VTSS) posted a 5-cent third quarter loss per share, vs. a 2-cent loss (GAAP basis), on 16% lower revenue.

Advent Software (ADVS) posted second quarter EPS of 10 cents, vs. a 28-cent loss, on a 3.7% revenue rise.

Robert Half International (RHI) posted second quarter EPS of 33 cents, vs. 18 cents, on 27% higher revenue.

Harrah's Entertainment (HET) raised its quarterly dividend by 10% to 36.25 cents.

RSA Security (RSAS) posted second quarter EPS of 12 cents, vs. 12 cents, on a 1.2% revenue rise. The company sees EPS of 11 cents to 14 cents in the third quarter and 15 cents to 19 cents in the fourth quarter. It also set an additional 2 million share buyback.

Express Scripts (ESRX) agreed to acquire Priority Healthcare (PHCC) for $28 per share in cash, in a deal valued at $1.3 billion.

Affymetrix (AFFX) posted lower-than-expected second quarter EPS of 12 cents, vs. 11 cents, on a 5.4% revenue rise. It sees a 6-cent third quarter loss (including charges) on $92 million in revenue.

BEI Technologies (BEIQ) agrees to be acquired by Schneider Electric SA for $35.00 per share in cash.

Schlumberger (SLB) posted second quarter EPS from continuing operations of 78 cents, vs. 43 cents, on a 21% revenue rise.

Becton, Dickinson (BDX) posted third quarter EPS (including items) of 73 cents, vs. 41 cents, on an 11% rise in revenue. The company sees 4% to 7% lower fourth quarter EPS of 65 cents to 67 cents, with 2005 EPS rising 28% to 29% to $2.83 to $2.85.

Kimberly-Clark (KMB) posted 95 cents (excluding tax expense) vs. 88 cents second quarter EPS on an 8.1% revenue rise. The company announced a restructuring initiative that will result in after-tax charges of about $625 million to $775 million over a 3.5-year period beginning in the third quarter of 2005.

Maytag's (MYG) board is unable to determine if Whirlpool's (WHR) proposal will lead to a deal capable of being completed, but will continue to evaluate the offer. Separately, Maytag posted 4 second quarter EPS of 4 cents vs. a 52-cent loss on a 6.7% sales rise.


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