Boeing Rises after Topping Expectations

Gilead Sciences plunges; Netease.com tanks on lower revenues; plus more of today's stocks in the news

Boeing (BA ) posted 32 cents, vs. 46 cents, third-quarter earnings per share (reported) on 4% lower revenue. The aircraft manufacturer's results topped analysts' average estimate of 25 cents earnings per share. Boeing raised the 2003 revenue guidance to $50 billion on strong defense sales; the earnings per share outlook was revised to a 2 cents to 12 cents loss (GAAP) to reflect the decision on the 757 jet program. S&P reiterates buy.

Gilead Sciences (GILD ) posted 33 cents, vs. 10 cents, third-quarter earnings per share on a 50% total revenue rise. S&P says Viread sales of $115.4 million werer below forecast, and reiterates accumulate. First Albany cut its estimates and target.

E-commerce company Netease.com (NTES ) posted third-quarter operating profit on a sharp revenue rise. However, the company says revenues from short-messaging services and other e-commerce services were slower for the quarter.

Genesis Microchip (GNSS ) posted a 12 cents second-quarter loss, vs. a 15 cents loss (GAAP), on a 4.1% total revenue rise. the chipmaker sees pro forma profitability in the third quarter.

Manhattan Associates (MANH ) posted 16 cents, vs. 20 cents, third-quarter earnings per share (GAAP) despite a 17% total revenue rise. The technology and software company sees 19 cents to 25 cents fourth-quarter GAAP earnings per share. J.P. Morgan downgraded to underweight from neutral. Bear Stearns cut its estimates.

OmniVision Technologies (OVTI ) expects second-quarter revenue will meet or exceed $65 million, and earnings per share will meet or exceed 30 cents. OmniVision cited strong demand from the digital-still-camera, video-game, and cell-phone markets.

Needham upgraded Sanmina-SCI (SANM ) to buy from hold.

WR Hambrecht upgraded Trimble Navigation (TRMB ) to buy from hold.

Software company Micromuse (MUSE ) posted 2 cents fourth-quarter earnings per share, vs. a 24 cents loss (GAAP), on a 33% revenue rise. Micromuse sees $34 million to $35 million in first-quarter revenue, and 1 cent to 2 cents earnings per share (GAAP). Prudential downgraded to neutral from overweight.

Halliburton (HAL ) posted 21 cents third-quarter earnings per share, vs. 22 cents, from continuing operations despite a 39% revenue rise. The oil services company sees at least 30 cents fourth-quarter earnings per share.

Monster Worldwide (MNST ) posted 11 cents, vs. 16 cents, third-quarter earnings per share from continuing operations on a 2.9% total revenue decline.

Wild Oats Market (OATS ) sees a 3 cents third-quarter loss (including items), on a slight same-store sales rise, and a 3.9% total sales rise.

BellSouth's (BLS ) latest round of merger talks with AT&T (T ) collapsed as BellSouth indicated it was unwilling to move forward with the deal due to price, according to The Wall Street Journal.

CORRECTION: Talk America (TALK ) posted $1.74 (including a one-time gain), vs. 42 cents, third-quarter earnings per share on a 26% total revenue rise. Talk America raised the $30 million to $34 million 2003 net income guidance to $34 million to $36 million (excluding a deferred tax benefit.) The local- and long-distance carrier sees $34 million to $36 million in 2004 net income. Talk America revised the $373 to $386 million 2003 total revenue estimate to $377 million to $385 million. Earlier, the story included incorrect guidance estimates.

Cable TV billing provider CSG Systems (CSGS ) posted a $1.04 third-quarter loss, vs. 11 cents earnings per share (GAAP), on a sharp revenue drop. CSG sees 14 cents to 16 cents fourth-quarter earnings per share on $125 million to $132 million in revenue, and 90 cents to $1.00 in 2004 earnings per share on $520 million to $535 million in revenue. S&P cut to avoid, while Citigroup upgraded to hold.

Sonus Pharmaceuticals (SNUS ) says the FDA granted fast-review status to its Tocosol Paclitaxel for the treatment of metastatic or locally advanced, inoperable transitional cell carcinoma of the urothelium.

International Rectifier (IRF ) posted 30 cents, vs. 21 cents, first-quarter pro forma earnings per share on a 10% revenue rise.

CORRECTION: Chipmaker Maxim Integrated Products (MXIM ) reported first-quarter earnings per share of 25 cents, up 13.6% from the 22 cents a year ago and up 4.2% from the 24 cents reported for the fourth quarter of fiscal 2003. Net revenues were $310.2 million, up 5.1% from the previous quarter. Earlier, the story included incorrect earnings information.

Regional air carrier Skywest (SKYW ) posted 36 cents, vs. 40 cents, third-quarter earnings per share despite a 14% revenue rise.

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