RadioShack posts higher earnings; Nordstrom gives forecast; plus more stocks in the news Tuesday
Apple (AAPL) Reportedly announces that it will delay shipment of its Apple TV device until mid-March.
RadioShack (RSH) Posts $0.62 vs. $0.38 fourth quarter earnings per share (EPS) as improved gross margin, reduction in Selling General & Administrative expense, and reduced interest expense offset a 7.7% same-store sales drop and 13% total revenue drop. Sees $1.00 to $1.20 2007 EPS.
Nordstrom (JWN) Posts $0.89 vs. $0.69 fourth quarter EPS on an 8.3% rise in same-store sales and 15% rise in total sales. Sees fiscal year 2008 EPS of $2.78 to $2.84 on a 3% to 4% same-store sales rise.
Halliburton (HAL) Board okays a plan under which Halliburton will dispose of its remaining interest in KBR (KBR) (about 135.6 million shares) through the split-off exchange offer to Halliburton's stockholders.
Wal-Mart Stores (WMT) Announces the purchase of a 35% interest in Bounteous Company Ltd., which operates hypermarkets in China under the Trust-Mart banner.
Volvo (VOLV) is to acquire Ingersoll-Rand (IR)'s road development division, which also includes material handling equipment, for $1.3 billion cash.
Shuffle Master (SHFL) Sees first quarter EPS significantly below the year-ago period due to lower-than-expected consolidated revenue, increased operating costs, lower-than-expected revenue, and gross margin from certain Stargames products and other shortfalls.
Marvell Technology (MRVL) Says fourth quarter revenue will be $622 million, an increase of 27%. Results are preliminary due to an ongoing internal review by a special committee relating to the company's historical stock option practices and related accounting matters.
PetroChina (PTR) Among China-based ADRs that could be under pressure as China's main stock index dropped nearly 9% on a government crackdown on trading.
Fresh Del Monte (FDP) Posts a $1.04 fourth quarter loss vs. a $0.06 loss on a 2.7% sales drop. Notes higher input costs and a difficult banana market in Europe, as well as lingering issues in the prepared food business. The company is optimistic it will see significant turnaround in 2007.
Hansen Natural (HANS) Posts preliminary $80.2 million vs. $51.9 million fourth quarter gross profit on a 54% net sales rise.
Forest Oil (FST) Posts $0.48 vs. $0.90 fourth quarter EPS on 33% lower revenue.