Markets & Finance

Dell Declines in After-Hours Trading


After the close of trading Thursday, Dell (Dell) posted second quarter earnings per share of 38 cents (pro forma), vs. 31 cents one year earlier, on 15% higher revenue. The shares moved solidly lower in after-hours trading after falling slightly in Thursday's regular session.

News Corp. (NWS) posted fourth quarter earnings per share of 22 cents, vs. 15 cents one year earlier, on a 12% revenue rise. The company extended its "poison pill" takeover defense for two years; it says goal of poison pill is to stop potential future acquisitions of significant amounts of its voting stock by Liberty Media (L).

Fastclick (FSTC) agreed to be acquired by ValueClick (VCLK) in a stock-for-stock deal valued at about $214 million, or $10.11 per Fastclick share. Terms: 0.7928 ValueClick share for each Fastclick share held.

Jacuzzi Brands (JJZ) shares fell Thursday after the company posted a third quarter loss of 27 cents a share, vs. 18 cents earnings per share, on flat sales. The company sees 40 cents to 44 cents fiscal 2005 earnings per share from continuing operations (excluding items) due to softness in the UK, Italian bath, and US spa markets, and a shift to lower-margin products in the UK and Italian bath businesses.

Medtronic (MDT) announced FDA approval of Guardian RT Continuous Glucose Monitoring System for improved diabetes management.

DirecTV (DTV) reportedly says it will stop marketing digital video recorders from TiVo (TIVO) this year, as part of its plan to replace them with News Corp.-created technology.

Schering AG (SHR) shares were higher in Europe ahead of the U.S. open Thursday with traders highlighting talk that Novartis (NVS) might be interested in the company. Novartis, however, tells Standard & Poor's European MarketScope it does not comment on market speculation. Earlier, it was incorrectly reported that the speculated subject of Novartis' interest was U.S. drugmaker Schering-Plough (SGP).

Goldman Sachs downgraded its investment recommendation on shares of Intel (INTC) and Freescale Semiconductor (FSL) to in-line from outperform.

JP Morgan downgraded Novellus Systems (NVLS) to neutral from overweight.

Tommy Hilfiger (TOM) resolved an investigation by the U.S. Attorney's Office in New York by executing a non-prosecution agreement. The company reported preliminary first quarter revenue of about $319 million and estimates its loss forthe quarter will be less than year ago.

Russell Corp. (RML) says the president and COO position will be eliminated in order to flatten its organizational structure. Jon Letzler, who has filled that position since July, 2001, will be leaving effective immediately.

Urban Outfitters (URBN) posted second quarter earnings per share of 36 cents, vs. 25 cents, on 10% higher total company same-store sales and 34% higher total sales.

Gateway (GTW) reportedly filed A notice with the SEC that it will delay filing its second quarter report due to accounting matters related to a Microsoft (MSFT) agreement.

Elizabeth Arden (RDEN) posted a 16-cent fourth quarter loss vs. a $1.12 loss on a 21% sales rise. The company sees fiscal 2006 sales up 8.5%-10.5%, and $1.37-$1.42 earnings per share on reported basis.

Hospira (HSP) posted second quarter earnings per share of 44 cents, vs. 88 cents, on higher expenses, the absence of a year-earlier gain, and flat sales. The company raised its 2005 forecasts for net sales to $2.6 billion, and earnings per share to $1.47-$1.52, including estimated non-recurring transition expenses and charges.


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