Markets & Finance

Buffett to Leave Coke's Board


Coca-Cola (KO) says Warren E. Buffett and J. Pedro Reinhard have informed the beverage company that they do not intend to stand for re-election to the Board of Directors at the upcoming Annual Meeting of Shareowners.

Shares of Transocean (RIG) dropped Tuesday after the company posted lower-than-expected 45 cents fourth-quarter EPS, vs. a 23-cent loss, on 14% higher sales.

Cendant (CD) posts 4 cents fourth quarter loss vs. 23 cents earnings per share (EPS) from continuing operations (GAAP) despite a 7% revenue rise. The real estate and travel services company sees 11 cents to 16 cents first quarter EPS before charges and notes a recent slowdown in the residential real estate market.

Marsh & McLennan (MMC) posts 28 cents vs. 26 cents fourth quarter earnings per share (EPS).

Deere (DE) The agricultural company posts 99 cents vs. 89 cents first quarter EPS on 7% higher worldwide revenue. It says industry sales of agricultural equipment are now expected to be down about 5% for 2006 due to concerns over farm input costs.

Oracle (ORCL) says it will divest its OnTarget business unit, which is part of Siebel University.

Jarden (JAH) posts 4 cents fourth quarter EPS vs. 8 cents loss (GAAP) on a sharp revenue rise. It says cash flow from operations was "significantly" stronger than expected, with over $250 million generated during the fourth quarter.

Newell Rubbermaid (NWL) names Mark D. Ketchum president and Chief Executive Officer.

WPT Enterprises (WPTE) posts 7 cents fourth quarter loss vs. 2 cents loss on an 8.6% revenue decline. It hires Thomas Weisel Partners LLC to explore strategic alternatives, which could include a sale or merger. It sees first quarter revenue of $6.5 million to $7 million.

AMR (AMR) says Chief Financial Officer James Beer will leave the company to take a position with Symantec (SYMC).

Curtiss-Wright (CW) sees $3.60 to $3.80 2006 EPS, including pension expense, on revenue of $1.225 billion to $1.25 billion.

Amgen (AMGN) is to offer $4.0 billion in convertible senior notes. It expects to use the proceeds, plus proceeds of warrant transactions, to purchase $3.0 billion of its stock.

IVillage (IVIL) posts 12 cents vs. 3 cents fourth quarter EPS on a 65% revenue rise. It sees first quarter revenue of $13.8 million to $18.8 million, and 2006 revenue of $105 million to $113 million.

E. W. Scripps (SSP) posts 15% higher January revenue and reaffirms 18% to 20% first quarter revenue growth guidance at Scripps Network.

Omnicom Group (OMC) posts $1.41 vs. $1.28 fourth quarter EPS on a 5% rise in worldwide revenue.

Playboy Enterprises (PLA) posts 14 cents vs. 43 cents fourth quarter EPS as higher costs, the absence of insurance, and a litigation settlement offset a 1.6% revenue rise.

3M Co (MMM) raises its quarterly dividend 9.5%. It also sets a $2 billion stock buyback.

Wellcare Health Plans (WCG) posts 27 cents vs. 46 cents fourth quarter EPS as higher expenses offset a 29% revenue rise. It sees 35 cents first quarter GAAP EPS and $2.37 to $2.42 in 2006.

Rimage (RIMG) posts 22 cents fourth quarter EPS (preliminary), below previous 27 cents to 32 cents guidance. The current quarter includes unforecast expenses related to the extension of a strategic engagement with an international consulting group.

Travelzoo (TZOO) sets a 1 million share buyback.

BearingPoint (BE) announces an agreement with Google (GOOG) to deliver search solutions to major enterprise customers.


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