Markets & Finance

Research In Motion Sees Slower Subscriber Growth


Research In Motion (RIMM) expects subscriber additions for the third quarter to be about 8% lower than the previously forecasted range of 680,000 to 710,000 provided by the BlackBerry provider in September.

PETCO Animal Supplies (PETC) posted 23 cents vs. 36 cents third quarter earnings per share despite a 1.5% same-store sales rise and 8.1% total sales rise. It lowered its fourth quarter outlook.

Six Flags (PKS)'s shareholders backed a plan by Washington Redskins owner Daniel Snyder to take control of the theme-park company, according to the Wall Street Journal.

Independence Community Bank (ICBC) says that based on a revised investment deal between Sovereign Bancorp (SOV), and the foreign bank Banco Santander, its financing arrangement for Sovereign Bancorp's acquisition of Independence Community Bank remains on track. Sovereign Bancorp said that, after making revisions to its agreement to sell a 19.8% stake in Santander and purchase of Independence Community Bank, the New York Stock Exchange will not require shareholder approval for the transaction.

Escala Group (ESCL) is being questioned by state and federal authorities as part of a wider investigation into allegations that money managers mishandled funds invested by the Ohio Bureau of Workers' Compensation, according to the Wall Street Journal.

Pattersoncos (PDCO) posted 32 cents vs. 31 cents second quarter earnings per share on an 11% sales rise. It sees 38 cents to 40 cents third quarter earnings per share and cuts its $1.54 to $1.58 fiscal year 2006 earnings per share estimate to $1.44 to $1.46.

Wind River Systems (WIND) posted 6 cents vs. 3 cents third quarter GAAP earnings per share on a 13% revenue rise. It sees 10 cents to 11 cents fourth quarter GAAP earnings per share and 27 cents to 28 cents fiscal year 2006 GAAP earnings per share.

Restoration Hardware (RSTO) posted 11 cents third quarter loss vs. 9 cents loss on a 2.1% same-store sales drop and 8.7% total revenue rise. It says it is disappointed with third quarter sales, primarily due to sales from its Fall Lighting Sale. It sees 29 cents to 33 cents fourth quarter earnings per share.

Michaels Stores (MIK) posted 40 cents vs. 31 cents third quarter earnings per share on a 0.8% same-store sales rise and 5% total sales rise. Under the current retail inventory method of accounting, it sees 88 cents to 92 cents fourth quarter earnings per share and $1.83 to $1.87 in fiscal year 2006.

Endurance Specialty Holdings(ENH) made an initial estimate of losses of $115 million related to Hurricane Wilma, net of reinsurance, reinstatement premiums, and tax benefits.

Sharper Image (SHRP) posted 70 cents third quarter loss vs. 24 cents loss on an 18% same-store sales drop and 20% total revenue drop. It noted that results are in line with guidance for 65 cents to 75 cents loss.

Ducommun (DCO) agreed to buy the privately owned missile and aerospace provider Miltec Corp. of Huntsville, AL, for an undisclosed amount. The company notes Miltec had sales of $42 million in its latest fiscal year.

Possis Medical (POSS) posted a penny vs. 11 cents first quarter earnings per share on a 12% revenue drop. It noted revenue below guidance and cut its $69 million to $74 million fiscal year 2006 revenue guidance to $66 million to $70 million. It sees 16 cents to 24 cents fiscal year 2006 earnings per share.

Coldwater Creek (CWTR) posted 20 cents vs. 15 cents third quarter earnings per share on a 26% sales rise.


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