Nasdaq Stock Market (NDAQ
) the London Stock Exchange rejects an unsolicited $4.1 billion cash offer from Nasdaq, stating that the proposal, which represents only an 8% premium to the current market price, substantially undervalues the company.
Shares of DreamWorks Animation (DWA
) declined Friday after the company posted 61 cents vs. $1.99 fourth quarter earnings per share (EPS) on a 65% revenue decline. It says its Wallace & Gromit release did not perform as well as expected. It will not provide EPS guidance going forward.
Nortel Networks (NT
) posts preliminary 51 cents fourth quarter loss (including 57 cents litigation expense) vs. 3 cents EPS on a 13% revenue rise. It is to delay the filing of its 2005 10-K, in the latest of Nortel's accounting snafus. The principal unit of Nortel is to restate its 2003, 2004, first 9 months of 2005, and adjust periods prior to 2003.
AnnTaylor Stores (ANN
) posts 43 cents fourth quarter adjusted EPS vs. 7 cents loss on a 6.8% fourth quarter same-store sales rise and 18% total sales rise. It says it is comfortable with a $1.60 to $1.65 fiscal year 2007 EPS estimate.
J Jill Group (JILL
) posts 15 cents vs. 13 cents fourth quarter EPS despite 3% lower same-store sales and 9.6% higher total sales. It attributes disappointing 2005 results primarily to customer dissatisfaction with merchandise offerings.
Pitney Bowes (PBI
) says the Securities and Exchange Commission requirement on the proposed spin-off of Capital Services external financing business could extend the time frame for completion into 2007. Separately, it is to sell its Imagistics Intl lease portfolio.
) posts 76 cents vs. 62 cents fourth quarter EPS on 10% higher same-store sales and 33% higher total sales. It sees 14 cents to 16 cents first quarter EPS on same-store sales equal to, or slightly below the year-ago level, and fiscal year 2006 EPS growth of about 20%.
Big 5 Sporting Goods (BGFV
) posts 34 cents vs. 42 cents fourth quarter EPS as costs offset a 1.5% rise in same-store sales and flat total sales. It sees same- store sales growth in the low-to-mid-single digits for the first quarter; and 2006 EPS of $1.23 to $1.33.
) posts 15 cents (including options expense) vs. 12 cents first quarter EPS on 58% higher revenue. It sees second quarter sales of $525 million to $530 million and 6 cents EPS, excluding options. It also says the third and fourth quarter are likely to be better than expected.
Allion Healthcare (ALLI
) expects to restate its financial results for second quarter 2005 and for the nine-months ended Sept. 30 2005 to correct omission of non-cash interest expense relating to warrants to purchase 100,000 shares of stock.
) raises $1.90 to $2.10 first quarter EPS guidance to between $2.20 and $2.40, citing strong shipments and better than expected margins. It says margins have been favorably impacted by a stable scrap pricing environment.
Education Realty (EDR
) posts 8 cents fourth quarter EPS vs. 33 cents third quarter loss and 80 cents loss for the first 8 months of operations as a public company. It also posts 26 cents fourth quarter FFO vs. 3 cents third quarter FFO and 20 cents 8-months FFO.
) posts 6 cents fourth quarter EPS vs. 27 cents loss despite a 2.9% revenue drop. It sees 2 cents to 3 cents first quarter EPS and 16 cents to 20 cents in fiscal year 2007.
) lowers first quarter guidance to $106 million to $112 million revenue. It also sees GAAP EPS of 19 cents to 22 cents.