From Standard & Poor's Equity ResearchCree (CREE
) shares moved lower Thursday after the company said that fourth quarter EPS will fall short of its previous estimated range of 22 cents to 24 cents on revenue of about $106.7 million. It cites lower LED sales due to production challenges.
Ford Motor (F
) Slashes its quarterly dividend in half to 5 cents from 10 cents. In addition, it says its board of Directors voluntarily reduced board member fees by half.
) sees ??2.2 billion in second-quarter revenues and ??1.41 EPS (pro forma). Thje software outfit sees ??5.80-??6.00 2006 pro forma EPS. S&P MarketScope Europe reports that the second-quarter numbers were below expectations.
CIBC World downgraded Disney(DIS
) to sector underperform from sector perform.
Merrill reportedly downgraded Wal-Mart(WMT
) to neutral from buy.
Amerus Group (AMH
) agrees to be acquired by Aviva PLC in a $2.9 billion deal, at $69 cash per Amerus Group share.
) posts 80 cents vs. 70 cents second quarter earnings per share (EPS) on a 12% revenue rise. Citing the strength of the company's first half EPS performance, as well as confidence in the balance of year outlook, it expects 2006 EPS of at least $2.95.
) posts 53 cents vs. 72 cents second quarter EPS from continuing operations on a 1.4% revenue drop and higher expenses.
) posts 43 cents vs. 29 cents second quarter EPS on a 7.1% revenue rise. It sees 28 cents to 30 cents third quarter EPS and $1.52 to $1.57 in 2006.
) reaffirms 2006 pro forma EPS estimates of $2.97 to $3.07; if trends continue, EPS would reach at least the upper end of the range. It plans to launch oral contraceptive Lybrel in 2007.
Texas Industries (TXI
) posts $1.58 vs. $1.09 fourth quarter EPS from continuing operations on a 5.8% sales rise and $12.4 million net gain from the sale of real estate.
) posts 25 cents first quarter loss vs. 24 cents EPS (GAAP) on a 23% revenue decline. It says the application of residual method of revenue recognition affected the timing of revenue recognition. It says it is not in a position to provide guidance for the second quarter and full-2006.
Warner Music Group (WMG
) says it is reviewing today's decision by the European Court, which annulled a merger between Sony and BMG, to determine what impact it might have on a potential combination of WMG and EMI Group PLC.