Monster Worldwide (MNST ) and Robert Half International (RHI ) are seen higher on the strong March jobs report: Nonfarm payrolls surged 308,000, vs. an expected 120,000, the biggest monthly gain since April 2000. Employment services are leading sector gainers today.
Sun Microsystems (SUNW ) sees a 6 cents to 8 cents third-quarter loss per share from operations on $2.65 billion revenue. Sun says it will cut its workforce by about 3,300 people, and restructure its global property portfolio. Sun named Jonathan Schwartz as president and COO, effective immediately. S&P reiterates hold.
XM Satellite Radio (XMSR ) says it has more than 1.68 million subscribers, and that it closed the first quarter with the addition of more than 320,000 new net subscribers.
Gateway (GTW ) will close its 188 company-operated retail stores on Apr 9. Gateway says it's pursuing wider retail distribution of its products in the U.S. and abroad. S&P reiterates hold. Bear Stearns upgraded to peer perform from underperform. Needham downgraded. S&P keeps hold.
Sierra Wireless (SWIR ) raised the first-quarter estimate to more than 12 cents earnings per share on $40 million-plus revenue, from 6 cents earnings per share on $35 million to $37 million in revenue. Sierra now sees first-quarter cash flow as significantly positive, vs. neutral. TD Newcrest reportedly upgraded to hold. CIBC World raised its estimates.
Medical-device maker Zimmer Holdings (ZMH ) expects first-quarter revenue of about $740 million, above the First Call estimate. It expects to significantly exceed the first-quarter earnings per share First call consensus (excluding items). First Albany upgraded to buy from neutral. S&P keeps buy.
UBS Financial initiated coverage on Kmart (KMRT ) with buy.
Schnitzer Steel (SCHN ) posted 89 cents, vs. 44 cents second-quarter earnings per share on a 30% revenue rise. It sees $38 million to $44 million in third-quarter income from operations.
Thomas Weisel upgraded Boyd Gaming (BYD ) to outperform from peer perform.
Continental Airlines (CAL ) posted a 10.7% increase in March in traffic, and a 4.5% increase in capacity.
Hudson River Bank (HRBT ) agreed to be acquired by First Niagara Financial in a $620 million deal. Terms: $19.63 in First Niagara stock and cash, or a combination of stock and cash for each Hudson River share.
Novartis (NVS ) will pay Regeneron Pharmaceuticals (REGN ) $42.75 million to satisfy its obligation to fund development for Interleukin-1 Trap. The companies agree to end IL-1Trap collaboration; the rights revert to Regeneron. Additionally, Novartis forgave all outstanding loans to Regeneron.
Goldman Sachs raised its estimates on Yahoo (YHOO ) on accelerated online ads, and reiterates its outperform rating on the stock.
Kana Software (KANA ) sees a 13 cents to 16 cents first-quarter loss (GAAP) on revenue of about $13 million, vs. a year ago's $18 million. Kana says it had anticipated "several" multi-million dollar sales that failed to close by Mar. 31.
Metrologic Instruments (MTLG ) says first-quarter sales increased 24% to about $39.6 million, above the top end of the company's previously provided range.
Landry's Restaurant (LNY ) raised the quarterly dividend by 100%, and says based on preliminary information, first-quarter numbers appear to be above expectations.