Markets & Finance

Bear Stearns Posts Higher Earnings


From Standard & Poor's Equity Research

Standard & Poor's Equity Research

Bear Stearns (BSC) posts $3.72 vs. $2.09 second quarter earnings per share (EPS) amid a 33% revenue rise.

Intermagnetics General (IMGC) agrees to be acquired by Royal Philips Electronics (PHG) in a $1.3 billion deal, at $27.50 cash per Intermagnetics General share.

General Mills (GIS) sees better-than-expected $2.90 fiscal year 2006 EPS, including 8 cents of dilution related to accounting for contingently conv. debt. It cites modestly above-target operating performance and about 3 cents of benefit from a favorable tax adjustment.

Monster Worldwide (MNST) receives direction to preserve all relevant information in anticipation of a request for documents from the Securities and Exchange Commission in connection with its informal investigation of stock option grants previously issued at the company.

Pier 1 Imports (PIR) posts 27 cents first quarter loss vs. 14 cents loss amid a 6.6% same-store sales drop and 3.6% total sales drop. It sees June comps in the negative low- to mid-teens range vs. last year, when sales were driven by heavier promotions.

Inter-Tel (INTL) the founder, former chairman and CEO Steven Mihaylo, together with Vector Capital Corp., submit a proposal to acquire all Inter-Tel shares at $22.50 per share cash.

Copa Holdings (CPA) files to offer 6.562 million Copa Holdings shares by selling the shareholder Continental Airlines.

Caterpillar (CAT) Targets sales and revenue of $50 billion in 2010 as well as 15% to 20% compound annual growth in earnings per share (EPS) from 2005 to 2010.

Lions Gate Entertainment (LGF) posts 6 cents vs. 20 cents fiscal year 2006 (ending March) EPS as higher expenses offset a 13% revenue rise.

Wimm-Bill-Dann Foods (WBD) posts 37 cents vs. 9 cents first quarter EPS on an 18% sales rise.

Matrix Service (MTRX) sees $480 million to $520 million fiscal year 2007 revenue and 10.5% to 11% consolidated gross margins. It also sees significant reduction in fiscal year 2007 legal costs vs. fiscal year 2006; however, those reductions should be replaced with significantly higher personnel costs.

Stanley Furniture (STLY) sees a worse-than-expected second quarter sales decline of 8% to 10% due to continued weakness in retail furniture activity. As such, it cuts its 35 cents to 38 cents earnings per share (EPS) guidance to 29 cents to 31 cents.

Caterpillar (CAT) Targets sales and revenue of $50 billion in 2010 and 15% to 20% compound annual growth in EPS from 2005 to 2010.


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