Markets & Finance

Chevron Net Rises


Chevron (CVX) posted $1.64 (including two months from former Unocal operations) vs. $1.51 (including 23 cents gain) third quarter earnings per share on a 32% sales rise. It says the contribution from former Unocal operations were more than offset by adverse effects of recent hurricanes.

Anadarko Petroleum (APC) posted $2.51 vs. $1.58 third quarter earnings per share on a 12% revenue rise.

Microsoft (MSFT) posted 29 cents vs. 23 cents first quarter earnings per share (both quarters including a charge) on a 6% revenue rise. It sees 32 cents to 33 cents second quarter earnings per share on revenue of between $11.9 billion and $12 billion, and $1.26 to $1.30 fiscal year 2006 earnings per share on revenue of between $43.7 billion and $44.5 billion.

Schering-Plough (SGP) reported that it has discontinued the Phase II study of vicriviroc, used in combination with Combivir, in treatment-naive HIV patients due to the return of detectable virus in some patients.

Standard Pacific (SPF) posted $1.37 vs. $1.08 third quarter earnings per share on an 8% rise in revenue. It still sees $6.00 2005 earnings per share and $6.90 in 2006.

Realnetworks (RNWK) posted 6 cents third quarter earnings per share vs. 4 cents loss (GAAP) on a 20% revenue rise. It increased total paid subscribers to more than 2.2 million and sees $1.42 to $1.48 fourth quarter earnings per share on $81 million to $85 million sales.

Bristol-Myers Squibb (BMY) posted 49 cents vs. 38 cents third quarter earnings per share (GAAP) on flat sales. It updated its 2005 earnings per share from continuing operations guidance to the middle of its previously disclosed $1.35 to $1.45 range, on adjusted non-GAAP basis.

Bebe Stores (BEBE) posted 14 cents vs. 13 cents first quarter earnings per share on 17% higher same-store sales and 22% higher total sales. It sees 24 cents to 29 cents second quarter earnings per share on a low- to mid-single-digit rise in comparables.

Avon Products (AVP) posted 35 cents vs. 37 cents third quarter earnings per share as a gross margin decline offset a 4.5% sales rise. It sees fourth quarter local-currency revenue growth unchanged from a year ago. It sees 2005 earnings per share up in the low- to mid-single digits from 2004, and operating profit flat to down.

Eastman Chemical (EMN) posted $1.53 vs. 79 cents third quarter earnings per share from operations on a 10% revenue rise.

Yellow Roadway (YELL) posted $1.42 vs. $1.15 third quarter earnings per share (reported) on 41% higher operating revenue (2005 revenue including results of USF companies). It sees $1.30 to $1.35 fourth quarter earnings per share and $5.18 to $5.23 in 2005.

Maxim Integrated (MXIM) posted 39 cents vs. 37 cents first quarter earnings per share despite a 2.5% revenue decline.

Kla-Tencor (KLAC) posted 38 cents vs. 52 cents first quarter earnings per share on a 6.7% revenue decline. It sees second quarter revenue of between $455 million and $470 million, compared to the first quarter's $484 million.

WebEx Communications (WEBX) posted 27 cents vs. 26 cents third quarter earnings per share (non-GAAP) on a 23% revenue rise. It sees 27 cents to 29 cents fourth quarter earnings per share on $81 million to $83.5 million revenue.

MicroStrategy (MSTR) posted lower-than-expected 91 cents vs. $7.22 third quarter earnings per share despite a 9% revenue rise. It says that during the third quarter of 2005, the company repatriated $30 million from its foreign subsidiaries under the American Jobs Creation Act of 2004.

Varian Semiconductor (VSEA) posted 36 cents vs. 62 cents fourth quarter earnings per share on a 5.5% revenue decline. It sees first quarter revenue of between $150 million and $160 million, and 30 cents to 38 cents earnings per share.

Invitrogen (IVGN) posted 42 cents vs. 51 cents third quarter earnings per share as a non-cash charge offset a 13% revenue rise. It posted 80 cents earnings per share (pro forma), below estimates. It sees $3.42 to $3.45 2005 earnings per share (pro forma.)

Emulex (ELX) posted 27 cents vs. 11 cents first quarter operating earnings per share on a 43% revenue rise.

Molecular Device (MDCC) posted 28 cents third quarter earnings per share vs. a 7 cents loss (GAAP) on 8.8% higher sales. It sees fourth quarter non-GAAP of 34 cents to 36 cents fourth quarter on $52 million to $54 million revenue, and 96 cents to 99 cents 2005 on $181 million to $183 million revenue.

Coinstar (CSTR) posted better-than-expected 27 cents vs. 30 cents third quarter earnings per share (GAAP) despite a 12% revenue rise. It sees 17 cents to 23 cents fourth quarter GAAP earnings per share on revenue of between $124 million and $131 million.

Dade Behring Holdings (DADE) posted 53 cents vs. 19 cents third quarter earnings per share on 8.5% higher revenue.

Archer-Daniels-Midland (ADM) posted 29 cents vs. 41 cents first quarter earnings per share on a 3.9% sales drop. It noted that hurricanes in the Gulf Coast Region seriously disrupted its North American business in the first quarter.

Overstock.com (OSTK) posted 75 cents third quarter loss vs. 16 cents loss as sharply higher total operating expenses offset a 64% revenue rise.

Business Objects (BOBJ) posted 21 cents vs. 12 cents third quarter earnings per share (GAAP) on a 19% revenue rise. It sees 30 cents to 33 cents fourth quarter GAAP earnings per share on revenue of between $287 million and $292 million.

Terex (TEX) posted $1.06 vs. 89 cents third quarter earnings per share on a 22% rise in revenue.

Avid Technology (AVID) posted 60 cents vs. 58 cents third quarter earnings per share (non-GAAP) on a 39% revenue rise.

International Rectifier (IRF) posted 41 cents vs. 54 cents first quarter earnings per share (adjusted) on 1.8% lower revenue.

Qualcomm (QCOM) was seen lower after competitors filed complaints to the European Commission requesting that it investigate and stop Qualcomm's anti-competitive conduct in the licensing of patents for 3G mobile technology.

Baker Hughes (BHI) posted lower-than-expected 65 cents vs. 41 cents third quarter earnings per share.

J Jill Group (JILL) posted 13 cents third quarter loss vs. 13 cents loss despite an 8.5% sales rise. The company says its modest top-line growth is insufficient to support the desired levels of profitability. It targeted $125 million to $130 million fourth quarter results and breakeven results.

Hittite Microwave (HITT) posted 17 cents vs. 12 cents third quarter earnings per share on a 33% revenue rise. It sees $21.5 million to $22.5 million fourth quarter revenue and 18 cents to 19 cents earnings per share.

Proquest (PQE) posted 60 cents (continuing operations) vs. 40 cents (pro forma) third quarter earnings per share on a 41% revenue rise.

Georgia Gulf (GGC) posted better-than-expected 82 cents vs. $1.00 third quarter earnings per share on a 12% revenue decline.

Roper Industries (ROP) posted 45 cents vs. 36 cents third quarter earnings per share on a 52% revenue rise. It raised $1.60 to $1.68 2005 earnings per share estimate between $1.64 and $1.70.

Spinnaker Exploration (SKE) said it is aware of Murphy Oil (MUR)'s comments that completed and producing Front Runner wells "are demonstrating less reservoir connectivity than expected". It is not aware of any new material information that is already taken into account.


Steve Ballmer, Power Forward
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