J.C. Penney (JCP) posted 3.1% higher holiday (nine-week) same-department-store sales. The company believes fourth-quarter earnings per share is trending toward the high-end of previously communicated guidance, with earnings per share now expected to be $1.00 to $1.05, including previously disclosed one-time charges.
Alltel Corp. (AT) is in advanced talks to buy Western Wireless (WWCA) for about $4 billion, according to the New York Times.
Tivo (TIVO) partners with Microsoft (MSFT), Sonic Solutions (SNIC), and Advanced Micro Devices (AMD) to offer solutions that extend TiVoToGo service by enabling portability of entertainment that can't be found on generic DVRs.
Starbucks (SBUX) posted 8% higher December same-store sales, and 22% higher total sales.
American Eagle Outfitters (AEOS) posted 33% higher December same-store sales, and 41% higher total sales. The company raises $1.08 to $1.10 fourth-quarter earnings per share from continuing operations guidance to $1.30 to $1.31. S&P raises estimates, and keeps a hold rating.
A U.S. District Court in Delaware rules against Medtronic (MDT) in patent litigation between Medtronic and a Guidant (GDT) unit and between Medtronic and Boston Scientific (BSX).
Sears, Roebuck (S) posted 3% lower December domestic same-store sales, and 2.4% lower total sales.
The Cendant (CD) board approves a spin-off of its mortgage and fleet business through a distribution of 100% of shares of its PHH Corp. unit to holders of Cendant. Terms of the spin-off are one share of PHH Corp. for every 20 shares of Cendant held.
BlackRock Inc. (BLK) raises 56 cents to 60 cents fourth-quarter GAAP earnings per share guidance to 74 cents to 76 cents, and $1.98 to $2.02 2004 GAAP earnings per share to $2.16 to $2.18. The asset-management firm cites income tax benefit of 14 cents per share, and higher than expected operating revenue and investment income.
Target (TGT) posted 5.1% higher December same-store sales, and 11.3% higher total sales. The company remains comfortable it will deliver a double-digit percentage increase in fourth-quarter earnings per share (continuing operations), but believes the actual growth rate will be lower than estimates.
Kohl's (KSS) posted 3.1% higher December same-store sales, and 16% higher total sales. The retailer expects to achieve 93 cents to 97 cents fourth-quarter earnings per share.
Best Buy (BBY) posted 2.5% higher December same-store sales, and 10% higher total sales. The company reiterates $1.56 to $1.66 fourth-quarter earnings per share. It now anticipates its fourth-quarter same-store sales gain to be at the low end of the 3% to 5% prior range.
Hot Topic (HOTT) posted 6.2% lower December same-store sales, and 8% higher total sales.
Big Lots (BLI) posted lower-than-expected flat December same-store sales, and 5.3% higher total sales. The company expects fourth-quarter same-store sales will decline in the low single digits. It cuts fourth-quarter earnings per share from continuing operations guidance to 48 cents to 51 cents.
Overland Storage (OVRL) expects second-quarter revenue to be about 10% below previous guidance of $69 million issued in Oct. 2004. The company cites lower-than-expected sales to both OEM and branded customers in the Americas region. It now sees 18 cents to 20 cents second-quarter earnings per share.
Pier 1 Imports (PIR) posted 8.8% lower December same-store sales, and 3.5% lower total sales. The company now sees 31 cents to 38 cents fourth-quarter earnings per share.