Markets & Finance

Krispy Kreme Rises as New CEO Named

Posted on March 06, 2006

Shares of Krispy Kreme Doughnuts (KKD

) rose Tuesday after the company named Daryl G. Brewster president & CEO, effective immediately.

Public Storage (PSA

) agrees to acquire Shurgard Storage Centers (SHU

) in a deal valued at about $5 billion, in which Shurgard Storage Centers holders get 0.82 Public Storage shares for each share held, representing about $65.16 per Shurgard Storage Centers share as of Monday's close.

Sprint Nextel (S

) reiterates guidance for consolidated 2006 revenues of $41 billion or more. It targets revenues to grow above the industry's rate of growth over the next three years.

Shares of Texas Instruments (TXN

) fell Tuesday after the company said it sees first quarter total revenue of $3.22 billion to $3.35 billion vs. the previous range of $3.11 billion to $3.38 billion. It sees earnings per share (EPS) from continuing operations of 31 cents to 33 cents vs. the previous range of 29 cents to 33 cents.

Microchip Technology (MCHP

) sees fourth quarter EPS of about 35 cents on sales of $243 million to $245 million, ahead of previous guidance. It says bookings in January and February were strongest in the first and second months of any quarter in the company's history.

Xilinx (XLNX

) sees fourth quarter revenue up 1% to 5% sequentially, unchanged from previous guidance.

Cablevision Systems (CVC

)'s board reportedly okays that the company "take all steps that would be necessary" to implement a $3 billion special dividend.

Semtech (SMTC

) posts 18 cents vs. 16 cents fourth quarter EPS on a 10% sales rise. It sees a 1% to 3% sequential rise in first quarter sales, and 18 cents to 19 cents EPS before stock option expense, amortization of intangibles, and certain legal expenses.

NRG Energy (NRG

) posts 68 cents vs. 18 cents fourth quarter EPS. It reaffirms adjusted 2006 earnings before interest taxes depreciation and amortization (EBITDA) guidance of $1.6 billion, and also raises its cash flow from operations guidance by $140 million to nearly $1.4 billion.

Jo-Ann Stores (JAS

) posts 39 cents vs. $1.40 fouth quarter EPS (pro forma) on 3% lower same-store sales and narrowed gross margins. It says total sales rose 2.7% and sees 4% to 5% lower first half comparables, with slight improvement in the back half of fiscal year 2007.

Sirva (SIR

) Withdraws guidance for the first six months of 2005. While continuing to perform its internal procedures, the company to date has identified about $12 million of additional charges.

Bristol-Myers Squibb (BMY

) the Food and Drug Administration is to review NDA for the leukemia treatment dasatinib in adult patients with resistance or intolerance to prior therapy.

Fairchild Semiconductor (FCS

) sees a 9% sequential increase in first quarter revenue, up from prior 5% to 7% growth guidance. It says order rates continue to be strong and the company is executing effectively to increase shipments to support end market demand.

Sunrise Senior Living (SRZ

) posts $1.01 vs. 28 cents fourth quarter EPS (including items) on a 46% revenue rise. It sees 28 cents to 34 cents first quarter 2006 EPS and $1.16 to $1.20 2006 GAAP EPS. It also sees 15% to 20% 2007 EPS growth.

Lifecell (LIFC

) posts 11 cents vs. 13 cents fourth quarter GAAP EPS as the absence of non-cash income tax benefit offset a 64% revenue rise. It sees 42 cents to 46 cents 2006 GAAP EPS.

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