Markets & Finance

DaimlerChrysler to Cut 13,000 Workers


Coca-Cola posts weaker earnings; MetLife, Deere and more announce quarterly results; plus more stocks in the news Wednesday

DaimlerChrysler (DCX) Posts $4.17 vs. $3.70 2006 earnings per share (EPS) on a 1% revenue rise. Chrysler Group says it is looking into strategic partners; it is to cut 13,000 of its workforce and plans to return to profitability by 2008.

Coca-Cola (KO) Posts $0.29 vs. $0.36 fourth quarter EPS as a charge offsets a 6.9% revenue rise.

MetLife (MET) Posts $1.36 vs. $1.04 fourth quarter operating EPS on a 10% rise in total premiums, fees and other revenues.

Deere (DE) Posts $1.04 vs. $0.99 first quarter EPS on a 5.3% revenue rise. Sees second quarter sales up about 5%, $525 million to $550 million net income, 2007 sales up slightly, and net income of $1.4 billion.

Office Depot (ODP) Posts $0.48 vs. $0.34 fourth quarter EPS on a 1% same-store sales rise in the US, Canada, and a 3.3% total sales rise.

Weight Watchers (WTW) Posts $0.39 vs. $0.38 fourth quarter operating EPS on a 14% sales rise.

Jones Apparel Group (JNY) Posts $0.53 fourth quarter adjusted EPS vs. $0.48 EPS on a 1% revenue drop. Targets 2007 adjusted EPS growth of about 10% when compared to $2.19, which represents 2006 adjusted EPS of $2.28.

Affiliated Computer Services (ACS) Posts $0.72 vs. $0.81 second quarter EPS (including items) despite a 6% revenue rise.

Applied Materials (AMAT) Posts $0.29 vs. $0.09 first quarter EPS on a 23% sales rise. Reportedly sees second quarter orders up 2% to 7% and EPS of $0.27 to $0.28 and revenue flat to up 5%.

Accredited Home Lenders (LEND) Posts $1.49 fourth quarter loss vs. $1.96 EPS on higher total operating expenses and sharply lower revenues.

P.F. Chang's (PFCB) Posts $0.34 vs. $0.34 fourth quarter EPS despite an 18% revenue rise. Sees 2007 revenue up 19% to $1.1 billion and EPS up 17% to $1.45.


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