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Ford Motor (F
) executives will present a restructuring plan to the board of directors today that calls for closing at least 10 assembly and component plants, eliminating 25,000 to 30,000 hourly jobs in North America within 5 yrs, according to the Detroit News.
) sees about $4.51 2006 earnings per share, which includes 18 cents impact for the expensing of stock options, on operating revenue of about $49.5 billion. This is 11% higher than the 2005 projection.
New York Times (NYT
) expects 2005 total company advertising revenue growth in the low single-digits. It says that given limited visibility on advertising in 2006, it will not provide an outlook for 2006.
Gaylord Entertainment (GET
) sees $924 million to $961 million 2006 revenue, and $152 million to $163 million consolidated cash flow.
) reported a 1.6% increase in November consolidated ad revenues and a slight increase in total revenues. It maintains a 98 cents to $1.00 fourth quarter and $3.45 to $3.47 2005 earnings per share guidcance.
) agreed to be acquired by Axalto(AXTOF.PK
) in a merger of equals deal, at two Axalto shares for every 25 Gemplus shares. The distribution of € 0.26 per share is to be made pre-offer by Gemplus to its shareholders.
General Motors (GM
) named Frederick Henderson Chief Financial Officer, replacing John Devine. Tim Lee is to replace Guy Briggs as GM North America vice president of manufacturing.
) posted better-than-expected 14 cents vs. 14 cents fourth quarter earnings per share on a slight sales rise. It raises its quarterly dividend 50% to 9 cents per share.
Comverse Technology (CMVT
) posted 18 cents vs. 8 cents third quarter earnings per share (GAAP) on a 22% sales rise.
)'s board approved a spin-off of its wholly-owned unit, dELiA*s, Inc., in which holders will receive pro-rata distribution in a ratio of 1 share dELiA*s stock for every 2 Alloy shares held.
Cumulus Media (CMLS
) set a $100 million stock buyback.
Verint Systems (VRNT
) posted 22 cents vs. 16 cents third quarter earnings per share (GAAP) on a 22% sales rise.
Nuance Communications (NUAN
) posted 6 cents earnings per share fourth quarter loss vs. 6 cents loss (GAAP) as costs related to its acquisition offset a 47% revenue rise. It posted 6 cents Non-GAAP earnings per share.
Hurco Companies (HURC
) posted 77 cents vs. 36 cents fourth quarter earnings per share excluding items on a 20% rise in sales and service fees.
) posted 9 cents vs. 31 cents third quarter earnings per share from continuing operations as higher operating expenses offset a 40% revenue rise. It expects significantly higher earnings per share and earnings before interest taxes depreciation and amortization, or EBITDA for fiscal year 2007.