Markets & Finance

Wal-Mart,Target Post April Sales Gains


Wal-Mart Stores (WMT) posts 6.8% higher April same-store sales and 16% higher total sales. It sees 2% to 4% May U.S. same-store sales growth.

Target (TGT) posts 10% higher April same-store sales and 17% higher total sales.

Electronic Arts (ERTS) posts 5 cents fourth quarter loss vs. 2 cents earnings per share (EPS) (Genearlly Accepted Accounting Principles) as higher operating costs and certain tax adjustments offset a 16% revenue rise. It sees first quarter GAAP loss of 36 cents to 42 cents on $300 million to $340 million revenue and fiscal year 2007 GAAP results of 15 cents loss to 15 cents EPS.

Eastman Kodak (EK) posted a first quarter loss per share of $1.04, vs. a 51-cent loss (GAAP basis) despite a 2% sales rise. The company notes the impact of restructuring charges, rising silver and oil costs. Kodak is exploring strategic alternatives for its Health Group. S&P reiterates its sell ranking on the shares.

Bausch & Lomb (BOL) says "a handful" of cases of Fusarium keratitis eye infections among users of its ReNu contact-lens solution have been confirmed in Europe, according to the Wall Street Journal.

Barr Pharmaceuticals (BRL) posts 70 cents vs. 58 cents third quarter EPS on a 23% revenue rise. It says its unit is challenging patents protecting Aventis Pharmaceutical Inc.'s Nasacort Nasal Spray.

Goodyear Tire & Rubber (GT) posts 37 cents vs. 35 cents first quarter EPS on a 2% sales rise.

Kerr-McGee (KMG) posts $2.39 vs. $1.51 first quarter EPS from continuing operations on an 18% revenue rise.

Multimedia Games (MGAM) posts 9 cents vs. 18 cents second quarter EPS as costs associated with the sale of gaming equipment offset a 16% revenue rise.

Estee Lauder (EL) posts 29 cents vs. 47 cents third quarter EPS from continuing operations as higher expenses offset a 3.5% revenue rise. It also notes continued consolidation in the retail channel, and some tough comps with prior year product launches.

International Paper (IP) posts 19 cents vs. 34 cents first quarter EPS from continuing operations despite a 1.8% revenue rise. It expects the second quarter to be somewhat seasonally stronger than the first quarter, with average prices improving.

Abercrombie & Fitch (ANF) posts 17% higher April same-store sales and 30% higher total sales.

I2 Technologies (ITWO) posts 7 cents first quarter EPS vs. $1.36 loss (GAAP) as sharply lower costs offset a 22% revenue drop. It now expects 2006 operating revenue to be below the 2005 amount.

Mills (MLS) receives a commitment of up to $2.23 billion in financing from Goldman Sachs Group (GS) as part of Mills's attempts to boost its liquidity and flexibility.

Claire's Stores (CLE) posts a 9% April same-store sales rise and a 9.9% total sales rise. It cut its 30 cents to 32 cents first quarter EPS forecast to between 28 cents and 30 cents. It also sees second quarter net income in line with a year-ago.

Swift Energy (SFY) posts $1.24 vs. 89 cents first quarter EPS on a 42% revenue rise.

Aeropostale (ARO) posts 8.4% higher April same-store sales and 28% higher total sales.

Tyco (TYC) posts 52 cents vs. 19 cents second quarter EPS from continuing operations on a 2.1% revenue rise. It sees 46 cents to 48 cents third quarter EPS from continuing operations and $1.80 to $1.85 in fiscal year 2006.

Pier 1 Imports (PIR) posts 12% lower April same-store sales and 8.7% lower total sales. It sees 24 cents to 28 cents first quarter loss. It retains JP Morgan to assist it in evaluating alternatives in the effort to enhance shareholder value.

American Eagle Outfitters (AEOS) posts 19% higher April same-store sales and 25% higher total sales. It raises its 36 cents to 38 cents first quarter EPS guidance to between 40 cents and 41 cents, after stock-option expense of about 2 cents.

Conseco (CNO) reports preliminary 36 cents vs. 43 cents first quarter operating EPS.

Barrick Gold (ABX) posts 29 cents vs. 11 cents first quarter EPS on a sharp sales rise.


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