Markets & Finance

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

Posted on December 01, 2005

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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