Markets & Finance

Trucker YRC Downshifts Earnings View


YRC Worldwide cut its first quarter EPS guidance to 65 cents to 70 cents from $1.00 to $1.05, and plans to update 2006 guidance when it posts first quarter results in late April.

Liberty Global (LBTYA) enters into a non-binding letter of intent with Altice and Cinven for the sale of its French cable business, UPC France SA, for approximately EUR1.25 billion (approximately US$1.51 billion) in cash, assuming zero net debt at closing.

Carnival (CCL) posts 34 cents vs. 42 cents first quarter EPS as higher fuel costs and other items offset a 2.7% revenue rise. It sees 48 cents to 50 cents second quarter EPS and $2.90 to $3.00 in fiscal year 2006. Separately, newswires say a fire broke out on one of the company's ships, killing one person.

KB Home (KBH) posts $2.02 vs. $1.41 second quarter earnings per share (EPS) on a 34% revenue rise. It maintains fiscal year 2006 EPS guidance of $11.25.

Freeport-McMoran Copper & Gold (FCX) says a mud/topsoil slide occurred at facilities supporting PT Freeport Indonesia's (PT-FI) mining operations, damaging the mess hall and adjacent area and killing three contract workers.

Mills (MLS) reportedly discloses that the Securities and Exchange Commission has begun a formal investigation.

General Mills (GIS) posts 68 cents vs. 58 cents third quarter earnings per share (EPS) on a 3% sales rise. It says that with the third quarter results meeting expectations, it remains on track to achieve its $2.80 to $2.85 fiscal year 2006 EPS target, including 8 cents dilution.

Scholastic (SCHL) posts 37 cents third quarter loss vs. 2 cents loss as higher costs and expenses offset a 1.4% revenue rise. Due to lower third quarter results and a revised fourth quarter outlook, it cuts its fiscal year 2006 EPS forecast to between $1.70 and $1.80 on $2.3 billion revenue.

Riviera Holdings (RIV) In an 8-K, says the company has resumed discussions with certain parties (previously interested in acquiring Riviera) concerning their possible acquisition of Riviera at $17 per share.

Jabil Circuit (JBL) posts 32 cents vs. 22 cents second quarter EPS (GAAP) on a 35% revenue rise. It sees third quarter core EPS of 43 cents on revenue of $2.5 billion to $2.6 billion, and $1.70 fiscal year 2006 core EPS on revenue of $9.9 billion.

Electro Scientific Industries (ESIO) posts 35 cents vs. 7 cents third quarter EPS on a 14% sales rise and $5.3 million tax benefits. It expects fourth quarter shipments and revenue to remain in the $50 million to $60 million range. It says gross margin will be slightly lower than in the third quarter due to a change in the mix.

Herman Miller (MLHR) posts 33 cents vs. 24 cents third quarter EPS on an 11% sales rise. It sees fourth quarter sales of $430 million to $450 million and EPS of 34 cents to 38 cents.

Apollo Group (APOL) posts 46 cents vs. 47 cents second quarter EPS. It says 9 cents expense related to the amount paid to its former CEO offset a 13% revenue rise.

Adobe Systems (ADBE) posts 17 cents vs. 30 cents first quarter EPS (GAAP) despite a 39% revenue rise. It sees second quarter revenue of $640 million to $670 million and GAAP EPS of 18 cents to 21 cents.

Onyx Software (ONXS) receives an unsolicited proposal from CDC. It says it remains optimistic about its market opportunity, and is firmly committed to continue to execute its current growth strategy while evaluating the proposal.

Family Dollar Stores (FDO) posts 35 cents vs. 48 cents second quarter EPS as a litigation charge offset a 3.2% same-store sales rise and 9.4% total sales rise. It sees $1.19 to $1.24 fiscal year 2006 EPS, including a litigation charge.

Yahoo (YHOO) UBS Financial reportedly upgrades to buy from neutral.

Gigamedia (GIGM) posts 5 cents vs. 2 cents fourth quarter EPS despite a 4% revenue drop. It sees first quarter consolidated revenue up 40% sequentially.


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