Markets & Finance

National City to Buy Harbor Florida Bancshares


From Standard & Poor's Equity Research

Harbor Florida Bancshares (HARB) agrees to be acquired by National City for $45 per share, or about $1.1 billion, in an all-stock transaction.

ChoicePoint (CPS) is to divest direct marketing, forensic DNA, and shareholder services operations. It sees second quarter internal revenue growth from continuing operations in the mid-single digits.

Alcoa (AA) posts 86 cents vs. 56 cents second quarter EPS from continuing operations on a 19% revenue rise.

LG.Philips LCD (LPL) posts $392 million second quarter operating loss vs. $31 million operating profit on flat revenue. It notes the impact from much greater than expected industry-wide pricing weakness. It also cuts 2006 capex guidance.

KLA-Tencor (KLAC) shares rose Tuesday. The company's bookings during the fourth quarter exceeded the top end of its forecasts, according to comments made at its analyst meeting, says a Bloomberg report.

Flir Systems (FLIR) says Textron's (TXT) Bell Helicopter unit has selected FLIR to provide multi-sensor systems for the U.S. Army's Armed Reconnaissance Helicopter Program.

Williams-Sonoma (WSM) Ed Mueller is to retire as CEO. The company raises second quarter GAAP earnings per share (EPS) guidance by 5 cents to between 25 cents and 27 cents, as well as fiscal year 2006 guidance by 6 cents to $1.97-$2.01. The change reflects a CEO departure charge, unredeemed gift certificate income, and current business trends.

Pepsi Bottling Group (PBG) posts 61 cents vs. 59 cents second quarter EPS on a 9.6% revenue rise. It sees $1.82-$1.88 2006 reported EPS.

Lucent Technologies (LU) expects third quarter revenue of about $2.04 billion vs. $2.14 billion in the second quarter and $2.34 in the year-ago third quarter. It cites lower sales to North American mobility customers and decreased revenue in China. It sees 2 cents third quarter EPS.

Talbots (TLB) announces progress in integration of Talbots and J. Jill brands. It sees narrower-than-expected 8 cents to 10 cents second quarter GAAP loss. It also sees second half consolidated same-store sales up in the positive low single-digit range, and 50 cents to 55 cents GAAP EPS.

Cosi (COSI) posts flat second quarter same-store sales and 5.9% higher total sales. It sees a penny second quarter EPS, excluding stock-based compensation expense. It says sales were softer than expected.

W D-40 CO (WDFC) posts 42 cents vs. 38 cents third quarter EPS on a 12% revenue rise. It sees lower-than-expected fiscal year 2006 EPS of $1.55 to $1.65 on sales of $285 million to $290 million.

Alcatel (ALA) says second quarter results are expected to be in line with expectations.


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