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Ford Cuts Earnings Guidance

Ford Motor (F) expects first-quarter earnings per share to exceed its previous guidance of 25 cents to 35 cents, but it cut its 2005 earnings per share guidance to $1.25 to $1.50 due to expected difficult business conditions in the automotive sector. S&P reiterates hold.

Verizon (VZ) inks a deal to purchase approximately 43.4 million shares of MCI (MCIP) from 8 entities affiliated with Carlos Slim Helu for $25.72 per share cash.

Circuit City Stores (CC) posted 43 cents, vs. 46 cents fourth-quarter earnings per share from continuing operations on 1.8% lower same-store sales and 5.3% higher total sales. The company sees fiscal 2006 total sales growth of 3% to 5% and domestic comparative growth in the low single-digit range.

Anheuser-Busch (BUD) is to convert its remaining Tsingtao bonds to newly issued "H" shares of Tsingtao. The company is raising its 9.9% economic interest in Tsingtao to 27%.

Wyeth (WYE) says a jury in the cases of Camille Olsen v. Wyeth, Isabel Vega v. Wyeth in a Philadelphia court found in favor of Wyeth in the second liability phase of this 2-phase trial. The decision means the company has no liability in this case.

XM Satellite Radio (XMSR) is in a deal with Time Warner's (TWX) America Online unit to create a new online radio service.

LG.Phillips (LPL) posted a $78 million first-quarter loss, vs. a $618 million profit on a 5.7% revenue drop. The company says the first-quarter is challenging due to strengthening of the Korean won and a difficult pricing environment.

Sepracor Inc. (SEPR) says preliminary results from its 2nd six-month, Phase IIIB/IV safety and efficacy study of the Lunesta brand eszopiclone for treatment of insomnia augments findings in Sepracor's first 6-month study of Lunesta.

Hyperion Solutions (HYSL) sees third-quarter results at the high end of its guidance, with revenue of $177 million, GAAP earnings per share of 44 cents to 46 cents, and non-GAAP pro forma earnings per share of 46 cents to 48 cents.

Bausch & Lomb (BOL) says the FDA has approved single-indication orphan drug Retisert for treatment of chronic non-infectious uveitis affecting posterior segment of the eye, a sight-threatening inflammatory disease.

99 Cents Only Stores (NDN) posted 2.8% lower first-quarter same-store sales and 5.3% higher total sales.

In an 8-K filed on Friday, McKesson Corp. (MCK) stated it received a subpoena from New York Attorney General Eliot Spitzer. Intra-day Friday, Cardinal Health (CAH) and AmerisourceBergen (ABC) were subpoenaed by Spitzer.

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