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Investors to Shuffle Master: Deal Us Out


From Standard & Poor's Equity Research

Shares of Shuffle Master (SHFL) declined over 10% Friday after the company posted 20 cents vs. 22 cents third quarter EPS from continuing operations (GAAP) despite a 49% revenue rise. It sets an additional $30 million stock buyback. It also sees 97 cents to $1.00 fiscal year 2006 EPS; and notes lower-than-expected performance related to Table Master.

Shares of Quiksilver (ZQK) declined Friday after the company posted 4 cents vs. 20 cents third quarter EPS as expected negative impact from the seasonal Rossignol biz and stock option expense offset a 41% sales rise. It sees 51 cents fourth quarter EPS, including stock comp expense, on $750 million revenue; it also cites a soft golf market.

National Semiconductor (NSM) posts 35 cents vs. 24 cents first quarter earnings per share (EPS) on a 9.6% revenue rise. It sees a 2%-5% second quarter sequential revenue decline, mostly due to lower foundry revenues for divested businesses.

Broadcom (BRCM) says it has been informally contacted by the US Attorney's Office and asked to produce on a voluntary basis a subset of documents requested by the Securities and Exchange Commission.

Bakers Footwear (BKRS) posts 16 cents second quarter loss vs. 19 cents EPS on a 6.4% same-store sales drop and 4.3% total sales rise. It notes the effects of challenging sandal sales, which led to lower-than-expected sales, and higher markdowns during the second quarter.

Ligand Pharmaceuticals (LGND) agreed to sell its oncology product line and associated assets to Eisai Co, LTD, and Eisai Inc. The company notes the sale includes four marketed oncology drugs. First Albany upgraded the shares to buy from hold.

Lennar (LEN) lowers its third quarter EPS estimate to $1.25-$1.35. It cites increased sales incentives along with certain land adjustments as primary factors.

U.S. Global Investors (GROW) posts 74 cents vs. 5 cents fourth quarter EPS on sharply higher revenue.

Cooper Cos (COO) posts 74 cents vs. 80 cents third quarter EPS despite a slight revenue rise.


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