Briefing After-Hours News:
17:13 ET Novellus going to look at SFAM impact again (NVLS) 34.48 -1.77: -- Update -- Analyst points out on call that math of $0.04 per share negative impact from Speedfam-IPEC acquisition doesn't compute since NVLS is only issuing 6 mln shares out of a base of 150 mln shares... contends that impact should be smaller... NVLS concedes that it thinks analyst is right and that it may have to go back and re-work the math... call just concluded... NVLS +0.97 at 35.45
17:05 ET Novellus clarifies improved bookings guidance (NVLS) 34.48 -1.77: -- Update -- In response to analyst question, says it thinks improved Q4 bookings guidance has to do with an increase in demand rather than market share increases... separately, says there is a shortage of advanced technology capacity, particularly in the area of copper... NVLS +0.82 at 35.30
17:00 ET API Data -- Week ended Nov 22 : U.S. distillate stocks down 3.7 mln bbl; U.S. crude stocks down 142,000 barrels; U.S. gasoline stocks up 2.4 mln bbl
16:56 ET Sun Microsystems gives bookings outlook (SUNW) 3.80 unch: -- Update -- On mid-quarter update, Sun expects the backlog at the beginning of Q2 (Dec) to be the same as at the end, resulting in a book-to-bill of about 1 ... Sun adds that it has completed its workforce reduction efforts in the U.S, and should have the majority of Europe finished by the end of Q3 (Mar) .. SUNW originally announced its plan to reduce its workforce by approximately 11% from its Q1 (Sept) levels on its Q1 conference call.
16:52 ET Novellus thinks bottom probably in place (NVLS) 34.48 -1.77: -- Update -- In response to analyst question about Q1 (Mar) visibility, CEO said he isn't going to comment on Q1 right now, but he does believe "we are probably at a bottom"... notes that, at these levels, the safe bet is that things stay flat... NVLS +0.94 at 35.42
16:47 ET Novellus provides Q4 EPS guidance (NVLS) 34.48 -1.77: -- Update -- On mid-qtr update, still expects total revenues to be $211 mln; notes shipments should be $185 mln or slightly higher... still anticipates Q4 (Dec) EPS of $0.11, which excludes a $1.7 mln restructuring charge for workforce reduction this qtr... including charge, pegs EPS at $0.09.... when accounting for Speedfam-IPEC acquisition (to close on Dec. 6), says it expects a $0.04 per share negative impact that would result in Q4 EPS of $0.07 excluding restructuring charge and $0.05 per share including charge... NVLS +1.17 at 35.65
16:42 ET Novellus provides improved bookings guidance (NVLS) 34.48 -1.77: -- Update -- On mid-qtr update, says net bookings for Q4 (Dec) are now expected to be $200 mln to possibly $210 mln... this is improved from Q3 conference call when it said Q4 bookings would be $200 mln or could be 10% lower
16:41 ET Sun Microsystems provides color on Q2 guidance (SUNW) 3.77 -0.03: -- Update -- On mid-quarter update, Sun expects Q2 (Dec) revenue to match the current consensus estimate of $2.9 bln ... In addition, SUNW looks for Q2 gross margins to come in slightly below Q1 levels due to the continuing competitive pricing environment ... also anticipates a modest increase in Q2 operating expenses as compared to Q1 on account of research and development.
16:39 ET Michaels Stores tops estimates (MIK) 34.90 -1.59: Reports Q3 (Oct) earnings of $0.46 per share, $0.06 better than the Multex consensus of $0.40; revenues rose 15.1% year/year to $704.6 mln vs the $704.6 mln consensus.
16:33 ET Dollar General misses estimates (DG) 14.06 -0.15: Reports Q3 (Oct) earnings of $0.16 per share, $0.02 worse than the Multex consensus of $0.18; revenues rose 14.4% year/year to $1.50 bln vs the $1.53 bln consensus.
16:16 ET SeaChange matches estimates (SEAC) 7.66 +0.01: Reports Q3 (Oct) loss of $0.02 per share, in line with the Multex consensus of ($0.02); revenues rose 34.5% year/year to $33.9 mln vs the $33.1 mln consensus; company expects Q4 total revenue of approximately $30.0 to $32.0 million -- Multex consensus estimate is for revs of $34.1 mln.
16:07 ET H & R Block tops estimates (HRB) 38.50 +0.12: Reports Q2 (Oct) loss of $0.05 per share, $0.01 better than the Multex consensus of ($0.06).
16:05 ET Comverse Tech beats by $0.02 (CMVT) 10.73 -0.55: Reports a Q3 loss of $0.13 a share, $0.02 better than the Multex consensus. Sales fell 43% to $167.47 mln (consensus $161.52 mln).
16:05 ET TriQuint Semi updates Q4 and Q1 guidance (TQNT) 7.04 -0.13: Reaffirms Q4 forecast of $0.00-($0.01) in EPS and $71-$75 mln, vs consensus of breakeven and $73.2 mln; regarding Q1, co states that after excluding the Agere business, rev would be down by about 10% sequentially and expects a loss of $0.08 due to the added costs from the Agere acquisition. |
