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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