Markets & Finance

Home Depot's CEO Nardelli Resigns


Wal-Mart estimates a 1.6% rise in sales; Walgreen posts higher sales; plus more stocks in the news Wednesday

From Standard & Poor's Equity ResearchShares of Home Depot (HD) climbed Wednesday after Robert Nardelli resigned as chairman and CEO. Frank Blake succeeds Nardelli, effective immediately.

Wal-Mart Stores (WMT) estimates a 1.6% rise in U.S. December comparable-store sales.

Walgreen Co (WAG) posted 7.9% higher December same-store sales and 14% higher total sales.

Blockbuster Inc (BBI) announced that it ended the year with about 2.2 million online rental subscribers, including about 2 million paying subscribers.

Sirius Satellite Radio (SIRI) Says it has ended 2006 with about 6.024 million subscribers, an 82% increase over its 2005 ending subscriber base. Based on preliminary financial data, says it achieved its first ever quarter of positive free cash flow in the fourth quarter.

Nabors Industries (NBR) sees lower-than-expected fourth quarter earnings per share (EPS) of $0.95 to $1.00 due to weaker-than-expected results from "Lower 48", Canadian operations. The forecast implies a 2006 EPS estimate of $3.53 to $3.58.

Pre-Paid Legal Services (PPD) says that during the fourth quarter, new sales associates enrolled decreased 32% to 35,311, while new memberships produced decreased 11% to 139,638.


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