McDonald's (MCD) posted 11% higher July systemwide sales, and reported slightly lower Europe July comparison sales. McDonald's Japan, which is 50% owned by McDonald's, cut its full-year profit estimate by 47%. Lehman raised estimates.
Univision Communications (UVN), the No. 1 U.S. Spanish-language media company, posted 16 cents, vs. 9 cents a year ago, second-quarter earnings per share despite a slight revenue decline. Univision sees 11 cents to 13 cents third-quarter earnings per share, and a net revenue increase by the mid-teen percentage. Univision's plan to buy Hispanic Broadcasting is pending FCC approval.
Chip designer Nvidia (NVDA) posted 14 cents, vs. 3 cents a year ago, second-quarter earnings per share on an 8% revenue rise. S&P maintains hold, and lowered the fiscal 2004 earnings per share estimate after Nvidia guided for flat-to-down gross margin in the third quarter. Thomas Weisel downgraded.
Goldman downgraded Payless Shoesource (PSS) to underperform from in-line. On Thursday the shoe retailer forecast a small second-quarter profit, and posted July comparisons.
O'Charley's (CHUX) posted 27 cents, vs. 30 cents, second-quarter earnings per share as a decline in same-store sales at O'Charley's restaurants offset a 56% revenue rise. It sees 21 cents to 24 cents third-quarter earnings per share, and $1.16 to $1.20 earnings per share in 2003.
Wedbush Morgan reportedly downgraded Too to hold from buy. On Thursday the retailer forecast an 11-cent second-quarter loss (including charges).
Hispanic Broadcasting (HSP) posted 12 cents, vs. 9 cents, second-quarter earnings per share on a 13% revenue rise. It sees revenue growth of 10% to 13% in the third quarter. Thomas Weisel says the results are above expectations, and reiterates outperform.
Winn-Dixie Stores (WIN) posted 44 cents, vs. 37 cents, fourth-quarter earnings per share from continuing operations despite 4.5% lower sales. The grocery chain adjusted the fiscal 2004 earnings per share estimate to reflect more aggressive pricing and a promotional stance going forward. Merrill downgraded to sell.
Deutsche Bank reportedly upgraded XM Satellite Radio (XMSR) to buy from hold.
Tenet Healthcare (THC) is being investigated by Florida's Medicaid Fraud Control Unit. On Wednesday, Tenet agreed to pay the government $54 million in connection with an investigation regarding alleged unnecessary cardiac procedures performed at Redding Medical Center in California.
Animation studio Pixar (PIXR) posted 34 cents, vs. 20 cents, second-quarter earnings per share on a sharp revenue rise. Pixar reportedly sees $1.60 2003 earnings per share.
Learning Tree (LTRE) posted 6 cents, vs. 16 cents, third-quarter earnings per share on a 13% revenue drop.
Coach (COH) set a 2-for-1 stock split.