Markets & Finance

Krispy Kreme Rises as New CEO Named


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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