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PepsiCo Raises Forecasts

PepsiCo (PEP) posted 53 cents, vs. 46 cents first-quarter earnings per share on a 7.4% revenue rise. The company sees 2005 earnings per share of at least $2.56, excluding the impact of the 53rd week. Its 2005 earnings per share was at least $2.60 including the 53rd week.

Apple Computer (AAPL) posted 34 cents, vs. 6 cents second-quarter earnings per share on a 70% revenue rise. S&P says third-quarter sequential revenue growth was a bit below estimate. Keeps hold.

Chipmaker Advanced Micro Devices (AMD) posted a 4-cent first-quarter loss, vs. 12 cents earnings per share on slightly lower sales. It plans to spin off a flash memory unit in an IPO. S&P reiterates hold, but it is pleased with the planned flash spinoff. Piper Jaffrey ups to outperform.

Unisys Corp. (UIS) posted a 13-cent first-quarter loss, vs. 9 cents earnings per share on a 6.6% revenue drop. The company notes the impact from several transformational outsourcing contracts, substantial increase in pension expense, and lower-than-expected revenue. It sees a challenging second quarter.

UnitedHealth Group (UNH) posted $1.16, vs. 88 cents first-quarter earnings per share on a 34% revenue rise. The company sees $4.85 to $4.90 2005 earnings per share.

Surgical product company Mentor Corp. (MNT) says an FDA panel determined that its silicone gel-filled breast implants are safe and effective for use in breast reconstruction and augmentation patients. The 7 to 2 recommendation for approval comes with a series of conditions.

Lam Research (LRCX) posted 41 cents, vs. 13 cents third-quarter earnings per share on a 51% revenue rise. S&P reiterates strong buy.

Infosys Technologies (INFY) posted 47 cents, vs. 29 cents fourth-quarter earnings per ADS on a 50% revenue rise. The company sees 44 cents first-quarter earnings per ADS and $1.92 to $1.95 fiscal 2006 earnings per ADS.

MGI Pharma (MOGN) posted 15 cents first-quarter earnings per share (GAAP), vs. a 5-cent loss on a sharp revenue rise. The company plans to submit new drug application for Saforis oral suspension during the third quarter. It sees 2005 total revenue of about $285 million and income from operations of about $62 million.

Money-transfer services company First Data (FDC) posted 47 cents, vs. 61 cents first-quarter earnings per share, as higher expenses and lower income offset a 9.8% revenue rise.

Southwest Airlines (LUV) posted 9 cents, vs. 3 cents first-quarter earnings per share on a 12% revenue rise. Based on recent cost trends, the company does not expect second-quarter unit costs, excluding fuel, to significantly exceed the first-quarter's excellent performance of 6.32 cents.

JDA Software Group (JDAS) sees 1 cent to 2 cents first-quarter earnings per share (GAAP) on total revenue of about $50 million and software revenues of about $10.2 million. The company cites a lack of large deals and a "significant" number of transaction delays.

Magma Design Automation (LAVA) sets a 2 million share buyback.

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