From Standard & Poor's Equity ResearchUnited Parcel Service (UPS
) shares fell sharply Tuesday after the company posted lower-than-expected second quarter EPS of 97 cents, vs. 88 cents onme year earlier, on a 15% revenue rise. UPS sees third quarter EPS of 87-91 cents. The company set a $2 billion increase in its stock buyback program. buyback program. S&P cut its buy estimates and price target, but kept its buy opinion.
) posts $1.01 vs. 90 cents second quarter earnings per share (EPS) (excluding items) despite slightly lower consolidated net sales. It sees 91 cents second half earnings per share (EPS) and $2.85 2006 EPS (both excluding items).
Texas Instruments (TXN
) posts 47 cents vs. 35 cents second quarter earnings per share (EPS) from continuing operations on a 24% revenue rise. It sees third quarter EPS from continuing operations of 42 cents to 48 cents on revenue of $3.63 billion to $3.95 billion.
Pitney Bowes (PBI
) posts 64 cents vs. 59 cents second quarter adjusted earnings per share (EPS) from continuing operations on a 5% sales rise. It sees 65 cents to 67 cents third quarter adjusted EPS from continuing operations on 7% to 9% revenue growth.
) posted 58 cents, vs. 43 cents, second quarter operating EPS on 53% higher total operating revenue. The company raised its 2006 adjusted consolidated operating income margin to the 17%-18% range. S&P reiterates buy.
Jetblue Airways (JBLU
) posts 8 cents vs. 8 cents second quarter EPS as narrowed operating margin offset a 43% revenue rise. It sees third quarter operating margin of 4%-6%.
Legg Mason (LM
) posts lower-than-expected $1.08 vs. 93 cents first quarter EPS on sharply higher operating revenues.
Kraft Foods (KFT
) posts 51 cents vs. 47 cents second quarter EPS (excluding items) on a 3.4% revenue rise. It raises 2006 EPS guidance to between $1.78 and $1.83, driven by a one-time gain related to United Biscuits transactions and timing of restructuring costs.
Walt Disney (DIS
) is to acquire Hungama TV, the leading Indian children's television channel, and take equity interest in the Indian media company UTV Software Communications Limited.
) postpones its second quarter earnings per share (EPS) release. It says the Audit Committee initiated investigation regarding the timing of past stock option grants, and other potentially related issues.
) posts 46 cents vs. 46 cents second quarter EPS (GAAP) despite a 6% sales rise.
AK Steel Holding (AKS
) posts 26 cents vs. 8 cents (including 27 cents non-cash charge) second quarter EPS on a 4% sales rise.
) posts 10 cents vs. 40 cents third quarter EPS from continuing operations as higher operating costs offset a 4.9% revenue rise.
) posts 24 cents vs. 9 cents second quarter GAAP earnings per share (EPS) on a 46% revenue rise. It sees $30 million to $35 million 2006 GAAP net income and revenue of at least $980 million.
) posts 47 cents vs. 47 cents second quarter earnings per share (EPS) (Generally Accepted Accounting Principles) on a 40% revenue rise.
Altria Group (MO
) posts $1.29 vs. $1.28 second quarter EPS on a 4% revenue rise. It raises a $5.25 to $5.35 2006 earnings per share (EPS) from continuing operations forecast to between $5.40 and $5.50.
CNET Networks (CNET
) posts a 14% second quarter revenue rise. It sees $93 million to $96 million third quarter revenue. It also says it will not be in a position to provide guidance regarding operating expense, operating income, and EPS pending completion of a special committee's review.
) posts a 17% second quarter revenue rise. It sees $334 million to $344 million third quarter revenue.