Markets & Finance

Wal-Mart: Auf Wiedersehen, Germany


From Standard & Poor's Equity Research

Wal-Mart Stores (WMT) is to sell its German retail business to Metro AG, at terms not disclosed. It sees a pre-tax loss related to a deal of about $1 billion for the second quarter of fiscal year 2007.

Chevron (CVX) posts $1.97 vs. $1.76 second quarter earnings per share (EPS) on 10% higher sales and other operating revenue. It notes that the latest quarter included 13 cents in charges tied to damages caused by last year's hurricanes in the Gulf. It plans to complete a $5 billion buyback program by year-end.

A judge in Arkansas begins hearing this week on a $90 million class-action settlement between Google (GOOG) and advertisers who say they were victims of "click fraud", according to the Arkansas Democrat Gazette.

Inco (N) says its tender offer to acquire Falconbridge expired, and a minimum tender condition of 50.01% of Falconbridge shares had not been satisfied. Inco therefore elects to terminate its offer.

McAfee (MFE) says that as the result of an ongoing options review, it anticipates it will not file its Form 10-Q for the period ending June 30. It says the review will likely result in charge and cash expenses associated with remediating this matter.

Office Depot (ODP) posts 41 cents vs. 31 cents second quarter earnings per share (EPS) on a 1% rise in North American retail same-store sales and a 3.9% total revenue rise.

Baker Hughes (BHI) posts $4.14 vs. 64 cents second quarter GAAP EPS from continuing operations on a 25% revenue rise. It sees 2006 revenue up 23%-25% from a year ago, and between $7.07-$7.37 EPS from continuing operations.

Realnetworks (RNWK) posts 22 cents vs. 3 cents second quarter EPS on an 8% revenue rise. It sees 20 cents to 22 cents third quarter EPS on $91 million to $94 million revenue.

Constellation Energy (CEG) posts better-than-expected 56 cents vs. 59 cents second quarter adjusted EPS as higher expenses offset a 27% revenue rise.

PortalPlayer (PLAY) posts better-than-expected 8 cents vs. 27 cents second quarter EPS on a 22% revenue drop. Separately, it announces that Gary Johnson, president and CEO, plans to resign by year end.

McKesson (MCK) posts 65 cents vs. 55 cents second quarter EPS from operations on a 13% revenue rise. It reaffirms $2.55-$2.70 2006 EPS from operational guidance.

Rackable Systems (RACK) posts 28 cents vs. 12 cents second quarter non-GAAP EPS on sharply higher revenue of $88.6 million.


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus