Dow Jones (DJ) 56.95: Reports Q2 earnings of $0.52 a share, $0.05 better than the First Call consensus of $0.47, vs year-ago earnings of $1.06 (company lowered guidance on April 12 to range of $0.50-0.60); revenues fell 18.4% to $484.13 mln from a year-ago of $593.16 mln; also company warns that Q3 will be $0.20-0.30 vs current First Call EPS estimate of $0.55; see press release.
PanAmSat (SPOT) 37.24: Satellite communications company reports Q2 earnings of $0.02 a share, $0.02 better than the First Call consensus of $0.00, vs year-ago earnings of $0.39; revenues fell 35.4% to $208.23 mln from a year-ago of $322.25 mln; also company warns that Q3 will be a loss $0.00-0.02 vs current First Call EPS estimate of $0.13; see press release.
Enron Corp (ENE) 49.10: Reports Q2 earnings of $0.45 a share, $0.03 better than the First Call consensus of $0.42, vs year-ago earnings of $0.34; revenues rose 196.5% to $50.06 bln from a year-ago of $16.89 bln; Enron also announces confidence in achieving $1.80 of recurring EPS for FY01 and new guidance for 2002 of $2.15; see press release.
Marriott Intl (MAR) 45.76: Hospitality company reports Q2 earnings of $0.50 a share, in line with the First Call consensus of $0.50, vs year-ago earnings of $0.50; revenues rose 2.3% to $2.19 bln from a year-ago of $2.14 bln; company says it is pleased with Q2 earnings in light of the significant drop in industry-wide lodging demand; company also warns that Y01 will be $1.98-2.03 vs current First Call EPS estimate of $2.05; see press release.
AnnTaylor (ANN) 31.40: Company warns that Q2 will be $0.20-0.24 vs current First Call EPS estimate of $0.29, due to comparable store sales expectations of negative 10% to negative 12% for Q2 of FY01; says that in June, Ann Taylor clients did not respond well to an over-assortment of bare tops, and an over-emphasis on fashion colors and prints; see press release.
First Data (FDC) 65: Electronic commerce and payment services company reports Q2 earnings of $0.61 a share, $0.02 better than the First Call consensus of $0.59, vs year-ago earnings of $0.52; revenues rose 10.9% to $1.57 bln from a year-ago of $1.41 bln; company has sustained profitable growth through persistent international expansion efforts, entry into new adjacent markets, and through sound execution in core businesses; also continues to capitalize effectively on other market dynamics, including the shift to electronic payments, growth in outsourcing of payment processing, and rising demand for money transfers; see press release.
Abbott Labs (ABT) 50.18: Reports Q2 earnings of $0.45 a share, in line with the First Call consensus, vs year-ago earnings of $0.44; revenues rose 21.6% to $4.10 bln from a year-ago of $3.37 bln; also confirms EPS guidance of $1.88 for the full year, excluding one-time charges, meeting the First Call analyst consensus estimate; gives guidance for Q3 of $0.44 and guidance for Q4 of $0.52; see press release.
Big Lots (BLI) 12: Broadline closeout retailer reports June sales were $226.7 mln vs year-ago of $214.1 mln, company warns Q2 (Jul) revenues will be below original plan; sales shortfall could also pressure gross margin rate as company continues to strive to keep inventories fresh and exciting for our customers; see press release.
STMicroelectronics (STM) 28.41: Company reports Q2 (Jun) revenues were $1.59 bln, in line with the previous guidance of $1.55-1.6 bln; experienced a significant amount of end-of-period order push-outs and cancellations, reflecting accelerated weakness in certain of its end markets, particularly telecom and computer peripherals; as a result, the company has incurred a second quarter excess inventory pre-tax charge of $70.7 mln; excluding the effect of this special charge, gross margin for the quarter was 38.0%, as previously anticipated; see press release.
AFTER THE CLOSE (11-Jul-01)******
Sprint FON (FON) 21.03 -0.08: Company announces 6-year deal with Motorola under which Motorola will supply equipment and services for the next phase of Sprint's nationwide PCS wireless network development and expansion; value of contract during the next two years is expected to be $200 mln; under agreement, Sprint will purchase Motorola's base station hardware and software, smart antenna technology, new vocoders and CDMA 1X enhancements to support third generation (3G) services; see press release.
Microsoft Reaction : Prices vs. 4 pm close... MSFT +4.00 trading way up in the late session on the heels of its positive pre-announcement. Other large cap tech issues also higher in sympathy CSCO +1.20, INTC +1.44, SUNW +0.82. Software names SEBL +4.15 and ORCL +1.08 also responding well to the news from MSFT.
Numerical Tech (NMTC) 17.76 -0.24: -- Update -- Company issues upside preannouncement for Q3; sees $0.04; current EPS estimate is $0.02; NMTC +2.74 vs. closing price.
Atmel Corp (ATML) 10.89 +0.13: -- Update -- Trading resumes; ATML +0.46 vs. 4 pm close.
Yahoo! (YHOO) 17.03 -0.80: -- Update -- CEO said that ad spending has settled down and that the quality of YHOO's ad sales is improving; believes YHOO's growth potential is fantastic on a relative basis versus the competition as it transitions its business model... call just concluded... overall, an upbeat and fairly reassuring presentation relative to what many had expected ahead of the company's report... YHOO +2.16
Yahoo! (YHOO) 17.03 -0.80: -- Update -- Q&A portion underway... nothing too insightful relative to what was heard in management's prepared remarks, but there was some clarification on full-year revenue guidance... CFO says in thinking about revenue range of $700-$775 mln range, investors should know that the low- to mid-point of that range is based on the current economic environment continuing, whereas, YHOO's ability to reach the upper-end of that range would be based on some improvement in the economic environment... YHOO +1.95
Bowater (BOW) 44.30 -0.18: Company warns for Q2; sees $0.15-0.25; current EPS estimate is $0.35; see press release.
After Hours Indications : We have a decidedly positive bias in futures trading. S&P futures at 1201, trade 15 points above fair value while Nasdaq 100 futures at 1735, trade 82 points above fair value.
Motorola (MOT) 15.67 +0.17: Reports Q2 loss, including pro forma adjustments, of $0.11, one penny better than consensus ests for a loss of $0.12; Q2 revs reported at $7.5 bln vs. consensus ests of $7.89 bln; guidance is sketchy but company says "the semiconductor industry should resume a double-digit growth pattern next year." see press release.
Yahoo! (YHOO) 17.03 -0.80: -- Update -- Company scaling back its capital expenditures for full-year by $25 mln to range of $110-$120 mln... YHOO +1.87
Atmel Corp (ATML) 10.89 +0.13: -- Update -- Company warns for Q2; expects revs of approx $367 mln vs. consensus of $445 mln, revs will be a sequential decline of approx 30% vs Q1; prior guidance had been for sequential decline of 10%-15%; company expects earnings of approx $0.00 vs. consensus est of $0.06 EPS; see press release.
Rowan Cos (RDC) 20.57 -0.71: Reports Q2 earnings of $0.36 a share, $0.01 worse than the First Call consensus of $0.37, revenues rose 46.9% to $210.40 mln from a year-ago of $143.20 mln.
Yahoo! (YHOO) 17.03 -0.80: -- Update -- In Q2, 74% of ad revenues came from non-pure play dot-com companies; 26% came from pure-play dot-com companies (spending by this group fell 12% from Q1 levels)... notes that declining influence of dot-com companies is facilitating its transition to a stronger, more predictable client base... YHOO +1.82
Atmel Corp (ATML) 10.89 +0.13: Trading halted.
Microsoft (MSFT) 66.50 +2.02: -- Update -- Company sees revs of $6.5-$6.6 bln vs. consensus of $6.43 bln; company will take $3.9 bln charge resulting from the impairment of certain publicly traded and private equity securities particularly in the cable and telecommunications industries; management expects results from operations to be in line with previous guidance; including the non-cash charge, diluted earnings per share is expected to be approximately $0.01; MSFT 69.75 +3.25 vs. 4 pm close.
Yahoo! (YHOO) 17.03 -0.80: -- Update -- New CEO, Terry Semel, says his agenda is to stabilize, then evolve and build Yahoo!'s business; says his intention is not to radically change the company, but to enhance current offerings... YHOO +1.96
Sonus Networks (SONS) 18.93 +1.47: -- Update -- On call, mgmt said Sonus beat out at least three competitors for the Bell South (BLS) deal....stock at 20.85.
Redback Ntwrks (RBAK) 6.53 -0.49: -- Update -- On call, company says that Q3 and FY01 revenues will be in line with consensus forecasts at about $56 mln and $260-300 mln, respectively; also comfortable with consensus EPS for the year of ($0.76). Sees return to profitability in second half of 2002.
Yahoo! (YHOO) 17.03 -0.80: -- Update -- On call, notes that ad spending pickup not likely to occur until mid-2002... YHOO +1.85
Sonus Networks (SONS) 18.93 +1.47: -- Update -- Domestic revenue was down sequentially, but international business was strong. During Q&A, mgmt said to not read this as a trend as carrier spending habits are lumpy...gross margins will increase moderately in Q3 and Q4; full year gross margin should be 57%-58%...stock at 20.60.
Yahoo! (YHOO) 17.03 -0.80: -- Update -- On call, management emphasizes that marketing services, business and enterprise services, and premium services will be the key focus points for achieving growth... also notes that key vertical markets in premium services business will be supported by multiple revenue streams... YHOO +1.72
Microsoft (MSFT) 66.50 +2.02: -- Update -- Issues upside pre-announcement for Q4 (Jun) on revenues.
Harley-Davidson (HDI) 46.29 -1.71: Reports Q2 earnings of $0.38 a share, $0.03 better than the First Call consensus of $0.35; reports Q2 revs of $850.94 mln vs. consensus of $858.3 mln; revs represent 12.7% growth from year-ago revs of $754.97 mln; company finalizing plans to invest $145 mln in a new 350,000-square-foot manufacturing facility in York, Pennsylvania; see press release.
Redback Ntwrks (RBAK) 6.53 -0.49: -- Update -- On conference call, company says that telecom equipment downturn continues unabated, and is expected to continue through the end of this year. Company hopes to name a new CEO within the next few weeks. Stock trading up 39 cents to 6.92.
Sonus Networks (SONS) 18.93 +1.47: -- Update -- On call, company guides revenue higher for the year to $190-$210 mln from previous guidance of $180-$200 mln; company defended insider selling saying they are engaged in regularly scheduled sell patterns...stock at 20.72.
After Hours Movers : We have a primarily positive bias in the late session tonight. Prices vs. 4 pm close... SONS +2.12 continues to demonstrate strength after beating its consensus ests and announcing BLS as a new customer. Sector peers ONIS +1.11, CIEN +0.55 and JNPR +0.57 trading higher as well. RBAK +0.37 also higher after beating ests. IDPH -13.35 is getting crushed after reporting weaker than expected sales for its flagship drug Rituxan. AEIS -1.70 after missing its number and warning for the upcoming quarter. TYC +0.70 higher after reaffirming both Q3 and full year results.
Dominion Res (D) 60.69 -1.75: Company issues upside preannouncement for Q2; sees earnings of "about $0.70" vs. current consensus EPS estimate of $0.68; company cites solid results from its unregulated energy operations as the primary reason for better than expected results; see press release.
Advanced Energy (AEIS) 32.19 -1.61: -- Update -- Company warns for Q3; sees loss of $0.16-0.19 vs. current EPS estimate of ($0.06); expects Q3 revs to be $43-$46 mln vs. consensus of $52.0 mln.
McAfee.com (MCAF) 12.10 +0.10: Reports Q2 earnings of $0.03 a share, $0.03 better than the First Call consensus of $0.00; Q2 revs reported at $14.41 mln vs consensus of $14.15 mln; see press release.
Tyco Intl (TYC) 50.50 -2.76: -- Update -- Company reaffirms both Q3 and full year ests; company says "it is comfortable that it will at a minimum meet expectations for the third quarter and, based on current business trends, will achieve its stated targets for the full year." see press release.
IDEC Pharm (IDPH) 61.48 +0.18: Stock getting crushed after hours, trading down to 48.99 after company reports Jun qtr Rituxan sales of $180 mln, which is apparently below street estimates. Company does, however, forecast EPS of $0.15 for the quarter, which is in line with the First Call consensus; see press release.
Genentech (DNA) 42.75 -1.10: Reports Q2 earnings of $0.19 a share, in line with the First Call consensus of $0.19, Q2 revs reported at $515.87 mln vs consensus est of $517.37 mln; revs rose 24.1% to from year-ago levels; see press release.
Yahoo! (YHOO) 17.03 -0.80: Reports Q2 net income of $0.01 EPS, one penny better than the consensus; reports revs of $182 mln vs. consensus est of $173.3 mln; company reaffirms guidance on both revs and earnings for Q3 and the full year; see press release.
Sonus Reaction : Stock trading up strongly in the late session. SONS +2.32 vs. 4 pm close. Optics related issues DIGL +0.80, ONIS +0.40, CIEN +0.30, JNPR +0.32 higher in sympathy.
Sangamo BioSci (SGMO) 14.05 unch: Company and Charles River Labs (CRL) enter into partnership agreement to apply Sangamo's novel gene regulation technologies to the creation of genetically engineered, rat research models. CRL will financially sponsor development work at Sangamo; see press release.
Sonus Networks (SONS) 18.93 +1.47: -- Update -- As had been rumored in the market today (see 15:52 In Play comment), company also announces a new customer; BellSouth (BLS) will deploy Sonus solutions in at least 8 metro areas in the next year; see press release. SONS shares trading at $20.90 in extended hours.
Numerical Tech (NMTC) 17.79 -0.21: Reports Q2 earnings of $0.03 a share, $0.02 better than the First Call consensus of $0.01; revenues rose 146.8% to $11.70 mln which is in line with consensus ests; year-ago revs for the comparable period were $4.74 mln; no guidance was provided with the earnings report; see press release.
NMS Comms (NMSS) 5.29 +0.11: Reports Q2 loss of $0.25 a share, in line with the First Call consensus of ($0.25), reports revs of $16.7 mln vs. consensus of $19.6 mln; revs fell 47.8% to $16.76 mln from a year-ago of $32.13 mln; see press release.
Advanced Energy (AEIS) 32.19 -1.61: -- Update -- Reports Q2 loss of $0.15 a share, $0.06 worse than the First Call consensus of ($0.09), vs year-ago earnings of $0.45; revenues fell 46.1% to $46.17 mln from a year-ago of $85.70 mln. Company says that "at this point, we do not have evidence from our customer base that there will be any significant change in order demand over the remainder of 2001"; see press release.
Sonus Networks (SONS) 18.93 +1.47: -- Update -- Reports Q2 net $0.01 a share, a penny better than consensus. Revenues rose 27% qtr/qtr and 707% yr/yr to $52.6 mln (Multex consensus $46.5 mln). CEO calls this an exceptionally good quarter for the company. No guidance provided in the press release; see press release.
Redback Ntwrks (RBAK) 6.51 -0.51: Company reports Q2 loss of $0.26 ex-items, $0.03 better than First Call consensus; reports Q1 revs of $59.4 mln vs. consensus ests for $56.6 mln; see pres release. |
