Markets & Finance

Circuit City Swings to a Loss


Best Buy posts stronger earnings; plus more stocks in the news Wednesday

Circuit City Stores (CC) posts $0.09 fourth quarter loss from continuing operations vs. $0.84 earnings per share (EPS) on flat same-store sales, a 1.2% total sales rise, and margin pressure. Sees fiscal year 2008 domestic comparable rise of 3% to 5%. Sees pre-tax loss of $40 million to $50 million for the first half of fiscal year 2008.

Best Buy (BBY) posts $1.55 vs. $1.29 fourth quarter EPS on 5.9% higher same-store sales and 21% higher total sales. Sees fiscal year 2008 EPS of $3.10 to $3.25 on revenue of about $39 billion.

DaimlerChrysler (DCX) Chairman Dr. Dieter Zetsche confirms for the first time that discussions have taken place with interested parties regarding future options for the company's Chrysler Group.

ImClone Systems (IMCL) and Bristol-Myers Squibb (BMY) say a study of Erbitux combined with platinum- based chemotherapy met the primary endpoint of increasing overall survival in patients with recurrent and/or metastatic squamous cell carcinoma of the head and neck.

NCR (NCR) announces the resignation of CFO Peter Bocian, effective May 11. Mr. Bocian has accepted a position at Starbucks (SBUX).

Panera Bread (PNRA) posts 0.2% lower March same-store sales. Sees first quarter EPS at or modestly below its previous target of $0.47 to $0.50 due to same-store sales at the low-end of expectations and the impact on margins from weather.

Monster Worldwide (MNST) Sees $328 million to $329 million first quarter revenue, slightly below a previous $330 million to $338 million outlook. Cites reduced growth rates in North America Careers and Internet Ad & Fees business.

Monsanto (MON) posts $0.98 vs. $0.80 in the second quarter on 19% higher sales. Raises fiscal year 2007 EPS guidance to between the $1.60 and $1.65 range.

Huaneng Power International (HNP) posts RMB 0.50 vs. RMB 0.40 2006 EPS on a 10% revenue rise.


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