Markets & Finance

Symbol Tech Falls


Symbol Technologies (SBL) shares dripped Monday after the company posted a second quarter loss (including items) of 12 cents per share, vs. earnings per share of 12 cents, on a slight sales drop. The company announced that Bill Nuti, its president and CEO, resigned to become CEO of NCR. S&P maintains its strong

sell rating on Symbol.

Tyson Foods (TSN) posted third quarter earnings per share of 36 cents, vs. 45 cents, despite a 1.5% sales rise. The company sees 95 cents to $1.05 2005 earnings per share (GAAP).

Take-Two Interactive (TTWO) says Australia's entity responsible for rating films and video games has revoked the classification of Grand Theft Auto: San Andreas. As a result, the game cannot be sold, advertised or distributed in that country.

Humana (HUM) posted second quarter earnings per share of 51 cents, vs. 50 cents, on a 3.3% revenue rise. The company continues to anticipate 2005 earnings per share of $2.23 to $2.25 and sees at least 25% 2006 earnings per share growth, to $2.80.

Ivax (IVX) posted second quarter earnings per share of 17 cetns, vs. 18 cents, as higher operating costs offset a 24% revenue rise. The company expects 2005 earnings per share will be in middle to upper end of the 76 cent to 86 cent range. Ivax confirms its $1.35 to $1.55 2006 earnings per share guidance.

In a government filing, Home Depot (HD) says it received a federal grand jury subpoena seeking documents and information relating to the company's handling, storage, and disposal of hazardous waste.

ITT Educational (ESI) says the SEC has terminated its investigation with regard to the company and recommended that no enforcement action be taken.

NCR (NCR) named Bill Nuti to the positions of president and CEO. Nuti is formerly president and CEO of Symbold Technologies. S&P views the news as positive and reiterates its hold rating.

Playtex Products (PYX) posted second quarter earnings per share of 10 cents, vs. 13 cents, on 5% lower sales.

Guidant (GDT) received FDA approval to re-launch its Contak Renewal 3 family of cardiac resynchronization therapy defibrillators in the U.S.; the company expects to resume worldwide distribution and implants of its CRT defibrillators by mid-week.

Symbol Technologies (SBL) posted a second quarter loss (including items) of 12 cents per share, vs. earnings per share of 12 cents, on a slight sales drop. The company announced that Bill Nuti, its president and CEO, resigned to become CEO of NCR.

Nokia's (NOK) board appointed Olli-Pekka Kallasvuo as president and COO effective October 1, 2005, and president and CEO from June 1, 2006.


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