Markets & Finance

Martek Biosciences Falls on Softer Outlook


From Standard & Poor's Equity Research

Martek Biosciences (MATK) posts 16 cents third-quarter EPS, vs. breakeven a year ago, on a 78% revenue rise. It sees lower-than-expected 9-12 cents fourth-quarter EPS, and 62-65 cents for fiscal year 2006. Citigroup downgrades to hold from buy.

Palm Inc. (PALM) lowers $380 million to $385 million first-quarter revenue guidance to $354 million to $356 million. It cites lower Treo volumes in carrier retail channels. The company sees GAAP EPS of 13-14 cents. ThinkEquity and RBC Capital downgrade.

Flow International (FLOW) says it will delay releasing first-quarter results. The company says it recently was made aware of information which raises questions as to whether it is appropriate to recognize revenues for certain sales of waterjet cutting systems in the first quarter.

GFI Group (GFIG) agrees to acquire all of North American brokerage operations and assets of Amerex Energy for $86 million in cash.

Embarcadero Technologies (EMBT) agrees to be acquired by affiliate of Thoma Cressey Equity Partners in deal valued at about $234 million. Terms: EMBT holders to get $8.38 in cash for each share held.

Beazer Homes USA (BZH) cuts fiscal year 2006 EPS guidance to $8.00-$8.50 from $9.25-$9.75. The company expects to close fewer homes in the fourth quarter than previously forecast.

Hovnanian Enterprises (HOV) posts $1.15, vs. $1.76, third-quarter EPS as increased use of incentives, concessions, and expenses related to walking away from option deposits offset an 18% revenue rise. It sees $1.05-$1.80 fourth-quarter4 EPS. S&P keeps sell recommendation.

KB Home (KBH) lowers fiscal year 2006 EPS guidance to $8.00-$8.50; it expects third-quarter EPS of $1.85-$1.95. The company says preliminary net orders fell 43%. It says guidance reflects an increasingly challenging housing market.

Nucor Corp (NUE) sees $1.50-$1.60 third-quarter EPS based on continuation of strong business conditions.

Jos.A Bank Clothiers (JOSB) posts better than expected second-quarter results. The retailer reported EPS of 38 cents, vs. 30 cents a year ago, on a 21% total sales rise for the quarter. It reaffirms forecast for at least $2.15 fiscal year 2007 EPS.

Sharper Image (SHRP) postpones second-quarter report previously scheduled for Sept. 7. It does not expect to report second-quarter results until the completion of a special committee's review of its historical stock option practices and related accounting matters.

Peabody Energy (BTU) targets 2006 production of approximately 230 million tons, an increase of 7% over prior-year levels. It says this production target is at the low-end of its original range. The company expects third-quarter EBITDA near the low-end of its $250 million to $300 million target.

Eastman Kodak (EK) inks new multi-year contract with Wal-Mart (WMT) for digital photo kiosk equipment and consumables. The deal will add 2,000 Kodak Picture Kiosks to 1,000 Wal-Mart stores across the U.S. Financial terms were not disclosed.

Nu Skin Enterprises (NUS) sets $75 million stock buyback.

Kulicke & Soffa (KLIC) raises a $135M-$145M fourth quarter revenue guidance to $155M (+/- 2%). It cites greater demand for its wire bonder equipment, with packaging materials' revenue slightly above its forecast.

UTI Worldwide (UTIW) posts 24 cents vs. 23 cents second quarter EPS on a 14% rise in organic revenues.


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