Markets & Finance

Google Surges as Revenue Nearly Doubles


Google (GOOG) shares surged Friday aftet the Internet search company posted $1.32 vs. 19 cents third quarter EPS (GAAP) on a 96% revenue rise. S&P raises estimates and price target, but keeps its hold rating. Needham upgrades to buy from hold.

AT&T (T) posted 64 cents third quarter earnings per share vs. an $8.99 loss despite a 13% revenue drop. It noted that third quarter 2004 included charges and that the third quarter 2005 revenue drop was primarily due to continued declines in long distance voice and data revenue. S&P kept its hold on the stock.

Capital One Financial (COF) posted better-than-expected $1.81 vs. $1.97 third quarter earnings per share as the impact of hurricanes and high bankruptcy filings offset 3.6% higher net interest income. It sees 2005 earnings per share at the lower end of $6.60 to $7.00. S&P kept a strong buy on the stock.

Weyerhaeuser (WY) set an 18 million share buyback.

SanDisk (SNDK) posted 55 cents vs. 29 cents third quarter earnings per share on a 45% revenue rise. It agreed to acquire Matrix Semiconductor Inc. S&P upgraded the stock to hold from sell.

Radioshack (RSH) posted 75 cents vs. 43 cents third quarter earnings per share on a 1% same-store sales rise and 8.5% total sales rise. It noted that third quarter 2005 earnings per share include a non-cash, non-recurring gain of 39 cents due to the reversal of a tax contingency reserve. It sees $2.14 to $2.24 2005 earnings per share.

Fiserv (FISV) posted 58 cents vs. 53 cents third quarter earnings per share from continuing operations on an 8.2% revenue rise. It sees 54 cents to 57 cents fourth quarter earnings per share on a 2% to 3% quarter over quarter rise in processing and services revenues. It sees $2.28 to $2.31 2005 earnings per share from continuing operations. Wachovia cut the stock to underperform.

Alltel (AT) posted 98 cents vs. $1.05 third quarter earnings per share despite a 20% sales rise.

Schlumberger (SLB) posted 89 cents vs. 53 cents third quarter EPS on a 27% operating revenue rise.

Xilinx (XLNX) posted 24 cents vs. 24 cents second quarter earnings per share (including items) on a slight revenue decline. It says business was weaker than anticipated in September and sees a 1% to 5% sequential revenue rise in the third quarter.

Xerox (XRX) posted 5 cents vs. 17 cents third quarter earnings per share as charges offset a 1.2% revenue rise. It set a $500 million stock buyback. S&P reiterated its hold on the stock.

7-Eleven (SE) Seven-Eleven Japan raised its $32.50 per share bid for 7-Eleven to $37.50 per share. The company's special committee of the board of directors is to recommend that shareholders tender their shares in connection with the amended offer.

Scientific-Atlanta (SFA) posted 39 cents (including items) vs. 36 cents first quarter earnings per share on an 8% sales rise. S&P reiterated its strong buy on the stock.

Maytag (MYG) posted a 23 cents third quarter loss vs. 9 cents earnings per share despite a 6.5% revenue rise. It noted its excess manufacturing capacity in some product categories continued to worsen. Also, higher raw material and transportation costs impacted the third quarter.

LM Ericsson Telephone (ERICY) posted SEK 0.34 vs. SEK 0.27 third quarter earnings per share on a 14% revenue rise. It noted a slight decline in sequential gross margin due to the effect of its quickly growing services business and a high proportion of network rollout.

Caterpillar (CAT) posted 94 cents vs. 70 cents third quarter earnings per share on a 17% revenue rise. It sees 2005 revenues up about 20% from 2004 and cut its $4.00 to $4.20 earnings per share forecast to between $3.85 and $4.00.

Foundry Networks (FDRY) posted 11 cents third quarter earnings per share vs. a 3 cents loss on a 4.5% revenue rise. Oppenheimer upgraded the stock to buy from neutral.

Robert Half (RHI) posted 37 cents vs. 24 cents third quarter earnings per share on a 22% revenue rise. S&P reiterated a strong buy on the stock.

Nash Finch (NAFC) cut its $3.70 to $3.89 2005 earnings per share guidance to between $3.00 to $3.25 vs. 2004 earnings per share of $1.18. It cited lower retail gross-profit margin, depressed wholesale gross-profit margin, and higher-than-expected acquisition-integration costs.

Genesis Microchip (GNSS)posted 25 cents second quarter earnings per share vs. a 1 cent loss (GAAP) on a 50% total revenue rise. It sees third quarter revenue of between $72 million and $77 million.

Cohu (COHU) posted 42 cents vs. 24 cents third quarter earnings per share on a 25% revenue rise.

Advent Software (ADVS) posted 19 cents vs. 10 cents third quarter earnings per share on a 15% revenue rise. It sees $41 million to $43 million in fourth quarter revenue.

Cree (CREE) posted 28 cents (including a 3 cents gain) vs. 32 cents first quarter earnings per share despite an 8% revenue rise. It sees 24 cents to 27 cents second quarter earnings per share (including stock options expense) on revenue of between $106 million and $109 million.

Trimble Navigation (TRMB)posted 35 cents vs. 33 cents third quarter earnings per share on an 11% revenue rise. It sees 26 cents to 28 cents fourth quarter earnings per share on revenue of $176 million to $179 million. It says the outlook towards the fourth quarter is cautious given uncertainties of the agricultural market.

Manor Care (HCR) posted 60 cents vs. 45 cents third quarter earnings per share on a 4.1% revenue rise. It noted that third quarter 2005 includes the positive impact of certain unusual items that produced a net gain of about 8 cents.

Cephalon (CEPH) received an approvable letter from the Food and Drug Administration to market Sparlon tablets for the treatment of attention deficit/hyperactivity disorder (ADHD) in children and adolescents ages six through 17.

Wyeth (WYE) posted 64 cents vs. $1.05 third quarter earnings per share as restructuring charges and the absence of favorable income tax adjustments offset a 5.5% revenue rise. It sees 2005 pro forma earnings per share reaching or exceeding the upper end of $2.80 to $2.90 guidance.

Armor Holdings (AH) posted 74 cents vs. 70 cents third quarter earnings per share (including items) on a 74% revenue rise. It raised 2005 revenue guidance to $1.6 billion to $1.63 billion, and now sees earnings per share of $3.55 to $3.65, including items. It received a $110.5 million order from AM General.

MTC Technologies (MTCT)posted 35 cents vs. 30 cents third quarter earnings per share on a 37% revenue rise. It sees 32 cents to 40 cents fourth quarter earnings per share and $1.32 to $1.41 for 2005.

Old Dominion Freight Line (ODFL) posted 64 cents vs. 50 cents third quarter earnings per share on a 28% revenue rise. It raised its $2.05 to $2.10 2005 earnings per share guidance to between $2.11 to $2.14.

Cemex (CX) posted a 54% rise in third quarter earnings before interest taxes depreciation and amortization, or EBITDA, on sharply higher sales. It cited the accretive impact of its RMC acquisition.

Broadcom (BRCM) posted 35 cents vs. 13 cents third quarter earnings per share (GAAP) on a 7.5% revenue rise.

Oakley (OO) posted 22 cents vs. 17 cents third quarter earnings per share on a 16% sales rise. It cut its 2005 net sales growth view to the lower end of the 10% to 15% range from the high end. It kept its high-end guidance of 25% to 30% 2005 earnings per share growth. Wedbush Morgan cut its estimates on the stock.

Captiva Software (CPTV) agreed to be acquired by EMC (EMC) for $22.50 per share, or about $275 million.

Aviall (AVL) posted lower-than-expected 41 cents vs. 30 cents third quarter earnings per share on a 13% sales rise.

Affiliated Computer Services (ACS) posted 74 cents vs. 72 cents first quarter earnings per share on a 25% revenue rise. It sees $3.30 to $3.55 fiscal year 2006 earnings per share. Jefferies upgraded the stock to buy from hold.

Research In Motion (RIMM) The U.S. Appeals Court denied a motion by the company to stay a patent infringement case pending a U.S. Supreme Court review. S&P kept a buy opinion on the stock.

Microchip Technology (MCHP) posted 31 cents vs. 29 cents second quarter earnings per share on 3.0% higher net sales. It raised its quarterly dividend by 28% to 16 cents, and sees about 32 cents third quarter earnings per share on $234 million net sales. Morgan Keegan raised its estimates and kept an outperform rating on the stock.

Hyperion Solutions (HYSL) posted 49 cents vs. 39 cents first quarter operational earnings per share (before items) on a 7% revenue rise. S&P says first quarter revenue was $1 million below its forecast and kept a buy on the stock.

Equifax (EFX) posted 47 cents vs. 40 cents third quarter earnings per share on 17% higher revenue.

Walter Industries (WLT)is to spin off its Water Products business in an inital public offering.


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