Markets & Finance

Ford Reportedly Plans to Shut 5 Plants That Employ 7,500


Ford Motor (F) The Wall Street Journal reported that Ford is likely to shut 5 North American plants that employ about 7,500 workers. Thursday Ford posted a 15% decline in total U.S. vehicle sales in November and cut its fourth quarter North American production plan by 20,000 vehicles.

Walgreen (WAG) posted 7.8% higher November same-store sales and 11% higher total sales.

MTR Gaming Group (MNTG) TBR Acquisition Group LLC offers to acquire all shares at $9.50 each in cash.

Starbucks (SBUX) posted 7% higher November same-store sales and 22% higher total sales.

Cognos (COGN) sees 28 cents to 31 cents third quarter earnings per share on revenue of $209 million to $212 million. It says its forecasting and execution against large sales opportunities are poor, and platform transition proved challenging.

Novell (NOVL) posted 7 cents vs. 6 cents fourth quarter earnings per share (adjusted) on a 6.3% revenue rise. It sees first quarter revenue of $260 million to $270 million and earnings per share between 2 cents and 3 cents, excluding stock-based compensation expense.

OmniVision Technologies (OVTI) posted 41 cents vs. 28 cents second quarter earnings per share on a 50% revenue rise. It sees 42 cents to 47 cents third quarter earnings per share on revenue of $130 million to $140 million.

Longs Drug Store (LDG) posted 1% higher preliminary November same-store sales and 1.5% higher total sales. It says that pharmacy same-store sales increased 3.7% and front-end same-store sales decreased 1.5%.

Golden West Financial (GDW) filed a shelf registration statement for up to $2 billion of debt securities.

Seachange (SEAC) posted narrower-than-expected 7 cents third quarter loss vs. 19 cents earnings per share on a 17% revenue decline.

Dentsply (XRAY) due to continued evaluation of actions necessary to address items raised in the Food and Drug Administration's pre-approval inspection of a sterile filling plant outside Chicago, the company suspends production of products for U.K., Australia, and New Zealand markets.

Qualcomm (QCOM) says that a 12/1/05 Korea Times report indicating certain Korean manufacturers' obligations to pay Qualcomm royalties will expire in 2006 and 2008 is incorrect; there's no date on which licenses under Qualcomm's patents become royalty free.

Genesis Healthcare (GHCI) posted 48 cents vs. 52 cents fourth quarter earnings per share from continuing operations as higher operating expenses offset a 5.9% revenue rise. It sees $2.10 to $2.15 fiscal year 2006 earnings per share (GAAP) from continuing operations.

Novell (NOVL) posted 7 cents vs. 6 cents fourth quarter earnings per share (adjusted) on a 6.3% revenue rise. It sees first quarter revenue of $260 million to $270 million and earnings per share between 2 cents and 3 cents, excluding stock-based compensation expense.

Rackable Systems (RACK) announced an offering of 8 million shares at $19.00 each.

Cheniere Energy (LNG) The unit of Chevron (CVX) elected to increase its reserved liquefield natural gas regasification capacity at Sabine Pass LNG (unit of LNG) receiving terminal to 1 billion cubic feet per day.


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