From Standard & Poor's Equity ResearchGeneral Motors' (GM
) board of directors endorsed a recommendation by the company's senior management that it engage in exploratory talks with Renault and Nissan regarding the automaker's potential participation in an alliance among the three companies.
) posts 6% higher June same-store company-operated sales and 22% higher net revenue.
) Names Julian Day chairman & CEO. It says Mr. Day has played a key role in revitalizing such companies as Safeway, Sears, and Kmart.
Advanced Micro Devices (AMD
) sees lower-than-expected second quarter sales of $1.215 billion, 9% below the first quarter level. It also says sales of entry-level, mainstream mobile, and desktop processors were down.
Business Objects (BOBJ
) sees second quarter total revenue of $287 million to $291 million, below previous guidance of $295 million to $300 million. It says license revenue is below expectations.
) says CFO Alan Krock will be leaving the company for personal reasons. It sees second quarter revenue at the mid-point of the $108 million to $112 million revenue range provided in April, which excludes revenue from the acquisition of Passave Inc.
Longs Drug Store (LDG
) posts 2.5% higher June retail drug store same-store sales, 6.7% higher pharmacy same-store sales, and 1.3% lower front-end same-store sales. It says total revenue in June rose 9.5%.
) sees $1.14-$1.17 second quarter EPS (including a gain). Excluding items, EPS is seen weaker than expected. It cites lower-than-expected sales volumes, as well as higher-than-expected new capacity start-up costs.
99 Cents Only Stores (NDN
) posts 3.6% higher first quarter same-store sales and 7.7% higher total sales.
) says policy changes from China Mobile Communication, one of its mobile operators, will have a significant and negative impact on its MVAS revenue going forward.