) shares lost ground Tuesday after the company posted third quarter earnings per share (GAAP basis) from continuing operations of 56 cents, vs. 43 cents one year earlier, on a 3% revenue rise. The conglomerate sees fourth quarter earnings per share from continuing operations of 45 cents to 47 cents, excluding items; it expects fiscal 2006 earnings per share from continuing operations to increase 10%. Wachovia downgraded its opinion on the shares to market perform from outperform. S&P cut its estimates and reiterates its hold opinion.
) announced it has withdrawn its offer for Unocal (UCL
). Bear Stearns upgraded CNOOC to outperform from peer perform.
) posted fourth quarter earnings per share of 25 cents, vs. 17 cents, on a 24% rise in sales. The leather-goods retailer sees at least 24 cents first quarter earnings per share on sales of $440 million to $445 million. Coach raised its 2006 earnings per share guidance to at least $1.24 on a sales rise of 22%.
Marsh & McLennan (MMC
) posted second quarter earnings per share of 31 cents, vs. 73 cents, as charges and higher expenses offset a 2.2% revenue rise.
) posted second quarter earnings per share of 64 cents, vs. 64 cents.
The company lowered its 2005 outlook. S&P cut its estimates but reiterates its buy rating.
) shares movedlower as the company says an overall industry decline and continued poor theatrical performance had a negative impact on the second quarter, and has created uncertainty about the balance of the year. S&P cut its estimates and price target, and keeps hold.
) posted second quarter earnings per share (GAAP basis) of 12 cents, vs. 18 cents, as higher expenses offset a 25% revenue rise. It lowered its 2005 guidance to 89 cents to 92 cents earnings per share (pro forma) and $205 million to $215 million in revenue.
Sirius Satellite (SIRI
) posted a 13-cent second quarter loss per share, vs. an 11-cent loss, as higher costs and expenses offset sharply higher revenue. The company raised its yearend 2005 subscriber guidance from 2.7 million to 3 million and its total revenue forecast from $215 million to to $225 million.
) posted second quarter earnings per share of 19 cents, vs. 12 cents, on an 11% revenue rise. The cable operator sees about 2005 revenue growth of about 10%.
Emerson Electric (EMR
) posted third quarter earnings per share of 86 cents (including a charge), vs. 81 cents, on an 11% revenue rise. The company raised its fiscal 2005 earnings per share forecast to a range of $3.45 to $3.50; including the tax impact of repatriating $1.3 billion of foreign earnings, the new guidance is $3.31 to $3.36.
Maxim Integrated (MXIM
) posted fourth quarter earnings per share of 37 cents, vs. 36 cents, as lower SG&A and R&D costs offset 4.9% lower sales.
Kinder Morgan (KMI
) agreed to acquire Canadian natural gas distributor Terasen Inc. for a total purchase price, including debt assumption, of about $5.6 billion.
Brooks Automation (BRKS
) posted third quarter earnings per share from continuing operations of 3 cents, vs. 28 cents, on 26% lower revenue. The company says the business environment was relatively soft going into the third quarter and remains so as it enters the current quarter.
) will sell its Search Engine Strategies trade shows, ClickZ.com Network of Web sites, including SearchEngineWatch.com, for $43 million in cash to Incisive Media plc.
H&R Block (HRB
) agreed to acquire the Tax & Business Services division of American Express (AXP
) for about $220 million.
Career Education (CECO
) posted second quarter earnings per share of 50 cents, vs. 35 cents, on a 23% revenue rise. The company set a $300 million stock buyback.
Fresh Del Monte (FDP
) posted second quarter earnings per share of 80 cents, vs. $1.03, as increased fruit, energy, and containerboard costs, and lower pricing associated with its Asian banana business, offset a 21% revenue rise. The company reiterated its 2005 earnings per share guidance of $2.30 to $2.40.