Markets & Finance

Dell Disappoints Street


Shares of Dell (DELL) fell Friday after the PC maker posted second quarter earnings per share (GAAP basis) of 41 cents, vs. 31 cents one year earlier, on 15% revenue rise. The company says average selling prices were down more than it would have liked. Goldman reportedly downgraded its rating on the shares. S&P reiterates strong buy.

nVidia (NVDA) posted second quarter earnings per share of 41 cents, vs. 3 cents, on a 26% revenue rise. S&P reiterates hold.

Analog Devices (ADI) posted third quarter earnings per share of 32 cents, vs. 43 cents, on a 19% sales decline. The company sees fourth quarter earnings per share of 32 cents to 34 cents; it expects gross margins to improve modestly. S&P reiterates hold.

Kohl's (KSS) posted second quarter earnings per share of 54 cents, vs. 43 cents, on 5.1% higher same-store sales and 16% higher total sales. The retailer sees fiscal 2006 earnings per share of $2.42-$2.50.

Mossimo (MOSS) shares rose after the company posted second quarter earnings per share of 14 cents, vs. 6 cents, on a 46% revenue rise.

Shares of Taser International (TASR) rose after a court dismissed a lawsuit against the company in a wrongful death case.

Emulex (ELX) shares gained Friday after the company reported fourth quarter earnings per share (GAAP basis) of 28 cents, vs. a $6.97 loss per share, on a 25% revenue rise and a sharp drop in operating expenses. Emulex sees first quarter earnings per share of 16 cents to 18 cents (GAAP) on a 2% sequential revenue rise. S&P and Needham each reiterate their buy ratings on the shares.

USA Truck (USAK) shares fell after the company announced a follow-on offering of 3 million common shares, including 2 million shares offered by USA Truck and 1 million offered by selling shareholders, priced at $25 per share.

Harvest Energy Trust (HTE) shares climbed after the trust posted second quarter earnings per unit of $1.32, vs. 91 cents (restated), on a sharp revenue rise. Harvest announced a 25% increase to its monthly distribution level from 20 cents to 25 cents per trust unit.

Cree (CREE) posted fourth quarter earnings per share of 27 cents, vs. 28 cents, as higher costs and expenses offset an 8.8% revenue rise. The company sees $101 million to $104 million in first quarter revenue and 22 cents to 24 cents earnings per share, which is seen as lower-than-expected. The company's CFO and treasurer, Cynthia Merrell, resigned.

Movie Gallery (MOVI) posted second quarter earnings per share of 13 cents (ongoing basis), vs. 32 cents (including a 4-cent item) on 5.5% lower same-store total revenue. The company cites the worst box-office slump in more than two decades.

Red Robin Gourmet (RRGB) posted second quarter earnings per share of 45 cents, vs. 35 cents, on a 23% rise in revenue. The restaurant chain sees third quarter earnings per share of 28 cents to 30 cents on $113 million to $115 million in revenue. It sees $1.64-$1.67 2005 earnings per share on $487 million to $491 million in revenue. The company named Dennis Mullen as its CEO and chairman; it named Eric Houseman as president and COO.

DreamWorks Animation (DWA) posted a 4-cent second quarter loss per share vs. $1.89 earnings per share, on an 88% revenue decline. The studio affirmed its 2005 earnings per share guidance of 80 cents to 90 cents.

Weight Watchers (WTW) posted second quarter earnings per share of 58 cents (excluding acquisition-related charges), vs. 49 cents, on an 18% revenue rise. The company sees $1.91-$1.98 2005 operating earnings per share.

Infosys Technology (INFY) posted a 5-cent second quarter loss per share, vs. a 12-cent loss, on a 52% revenue rise.

Scitex (SCIX) agreed to sell its Scitex Vision Ltd. unit to Hewlett-Packard (HPQ) for $230 million.


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