Markets & Finance

Wal-Mart, Home Depot, UBS and More Post Results


From Standard & Poor's Equity Research

Wal-Mart Stores (WMT) posts 72 cents vs. 68 cents second quarter earnings per share (EPS) from continuing operations on an 11% sales rise. It sees 59 cents to 63 cents third quarter EPS from continuing operations and $2.88 to $2.95 in fiscal year 2007. It says some of the issues affecting customers (higher utility costs and gas prices) are also impacting Wal-Mart.

Home Depot (HD) posts 90 cents vs. 82 cents second quarter EPS (GAAP) on a 17% sales rise. It sees fiscal year 2007 sales growth at the lower end of its prior 14%-17% guidance. It receives lawsuits related to stock option procedures; the board is to review past practices.

UBS (UBS) posts a 47% increase in second quarter net income. It says its 2006 outlook remains strong.

Dell (DELL) Voluntarily recalls about 4.1 million Dell-branded lithium-ion batteries with cells manufactured by Sony; it's possible for these batteries to overheat, which could cause risk of fire.

Staples (SPLS) posts 22 cents vs. 18 cents second quarter earnings per share (EPS) on a 4% North American Retail same-store sales rise and a 12% total sales rise. It expects fiscal year 2007 growth to come in at the high end of its 15% to 20% growth guidance.

Delta And Pine Land (DLP) agrees to be acquired by Monsanto for $1.5 billion, at $42 per Delta and Pine Land share.

Doral Financial (DRL) Files its 2005 annual report with the Securities and Exchange Commission. It expects to report first and second quarter 2006 results prior to it s10/24/06 annual meeting; it will resume regular financial reporting schedule thereafter. It also posts a 19 cents 2005 loss.

Campbell Soup (CPB) completes the sale of its UK and Irish businesses to Premier Foods plc following approval of Premier's shareholders. The board authorizes using approximately $620 million of net proceeds of the sale to buy back stock.

Deere & Co (DE) posts $1.85 vs. $1.58 third quarter EPS on an 8% worldwide net sales rise. It expects equipment sales to increase by 2% to 3% for full-year 2006.

Tribune Co. (TRB) reports that consolidated revenues for July were $503 million, down 1.4% from last year's $510 million.

Saks (SKS) posts 38 cents second quarter loss vs. 6 cents EPS on a 37% total sales decline. It says same-store sales rose 2.9%.

CA (CA) posts 6 cents vs. 16 cents first quarter EPS (GAAP) despite a 3.1% revenue rise. It plans to cut 1,700 jobs and sees fiscal year 2007 revenue of $3.9 billion and 44 cents GAAP EPS.

Jones Apparel Grroup (JNY) is expected to wind down its auction without finding a buyer, according to the Wall Street Journal and New York Times.

Shire (SHPGY) says it settled all pending litigation with a unit of Barr Pharmaceutical (BRL) over Barr's attempt to market generic versions of Adderall XR, Shire's best-selling hyperactivity drug.

Suntech Power (STP) posts 17 cents vs. a penny second quarter earnings per ADR on a sharp revenue rise. It sees $162 million to $169 million third quarter revenue.


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