Markets & Finance

Movers: Verizon, IHOP, ABN Amro, Blue Nile


Monday's stocks in the news

From Standard & Poor's Equity ResearchVodafone (VOD) reportedly says it has no plans to make an offer for Verizon Communications (VZ) in response to a Financial Times Alphaville report that Vodafone is mulling $160 billion offer for Verizon. S&P maintains hold.

Applebee's International (APPB) agrees to be acquired by IHOP Corp. in $2.1 billion deal. Terms: $25.50 cash per APPB share. Separately, Applebee's posts flat June same-store sales. Applebee's sees $0.30 second-quarter EPS, includes $0.03 impact from items.

McDonald's (MCD) sees about $0.71 second quarter EPS from continuing operations (excluding a charge related to developmental license transaction) on 7.4% higher global same-store sales. The fast food chain posts 8.4% higher June global same-store sales.

A consortium led by Royal Bank of Scotland Group PLC reportedly increases cash terms of its €71 billion offer to acquire ABN Amro Holding (ABN) to about 93% from 70%. The offer excludes ABN's LaSalle Bank unit.

AMREP Corp. (AXR) declares special cash dividend of $1.00 per share, and sets a 500,000 share buyback. It posts $1.19, vs. $1.56 a year ago, fourth quarter EPS from continuinig operations despite 1.0% revenue rise.

Blue Nile (NILE) rises after Citigroup upgrades to buy from hold.

Spartech (SEH) cuts $1.55-$1.62 fiscal year 2007 EPS view to $1.45-$1.50. It cites a challenging demand environment, particularly in transportation and residential construction markets. It announces the resignation of CEO and President George Abd.

DJO Inc. (DJO ) agrees to be acquired by an affiliate of ReAble in a $1.6 billion deal, including the assumption of debt. Terms: $50.25 cash per DJO share. An affiliate of Blackstone Group (BX) is the controlling shareholder of ReAble.

Mattel (MAT) posts second quarter EPS of $0.11, vs. $0.10 a year ago, on 6.5% sales rise.

Eaton (ETN) posts better-than-expected $1.64, vs. $1.64 a year ago, second quarter GAAP EPS on 4% sales growth. It sees third quarter GAAP EPS of $1.50-$1.60 and raises 2007 guidance by $0.30 to $6.50-$6.70.

W.W. Grainger (GWW) posts $1.21, vs. $1.02 a year ago, second quarter EPS on 8.0% sales rise. It raises $4.70-$4.85 2007 EPS guidance to $4.75-$4.90.

Avid Technology (AVID) announces the departure of its president, CEO and board member David Krall. The company reaffirms second quarter guidance of $220-$230 million revenue, non-GAAP EPS of $0.15-$0.20.

Dynacq Healthcare (DYII) jumps after it posts $0.16 third quarter EPS from continuing operations, vs. $0.03 loss per share a year ago, on 61% revenue rise.

Art's Way Manufacturing (ARTW) rises after the company posts $0.28, vs. $0.08 a year ago, second quarter EPS on 39% sales rise.


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