Markets & Finance

Accredited Home Lenders to Sell Assets at Discount


AnnTaylor's earnings suffer from unexpected weather and fashion miss; Pacific Sunwear posts weaker earnings; plus more stocks in the news Friday

Accredited Home Lenders (LEND) is to sell all loans held for sale that are funded out of its warehouse, repurchase credit facilities, asset-backed commercial paper facility, and its equity; will be sold at a "substantial" discount. Will not file its 10-K today.

AnnTaylor Stores (ANN) Posts $0.31 vs. $0.38 fourth quarter earnings per share (EPS) on a 6% same-store sales drop and 6.3% total sales rise. Notes unseasonably warm weather and a fashion miss at the Loft. Sees $2.15 to $2.25 in fiscal year 2008 EPS. Sets a $300 million stock buyback.

Pacific Sunwear (PSUN) Posts $0.37 vs. $0.60 fourth quarter EPS (excluding items) on 4.3% lower same-store sales and 7.8% higher total sales. Sees $0.23 to $0.27 second half EPS (excluding lease termination and severance charges) on a flat to low-single-digit rise in comps.

Six Flags (SIX) Posts $2.07 fourth quarter loss vs. $1.55 loss on flat revenue and a 16% decline in attendance. Posts $1.12 fourth quarter loss from continuing operations.

Southwest Airlines (LUV) Sets $300 million stock buyback program.

Trimeris (TRMS) Posts $0.21 vs. $0.17 fourth quarter GAAP EPS on a 57% revenue rise. Says Roche is to return all rights to joint patents and other IP to Trimeris related to HIV fusion inhibitor peptides. CEO Dr. Dani Bolognesi and CFO Robert Bonczek are to retire.

Moody's (MCO) UBS Financial reportedly upgrades to buy from neutral.

Manitowoc Co. (MTW) Raises $3.85 to $4.00 2007 earnings per share (EPS) guidance to between $4.20 and $4.30; expects first quarter EPS to exceed the consensus estimate by about 10%.

Allion Healthcare (ALLI) Posts $0.02 vs. $0.03 fourth quarter GAAP EPS as legal, bad debt, and other expenses offset a 53% rise in net sales. Sees $0.02 to $0.04 first quarter EPS on $57 million to $58 million sales.


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