GE Shares Dip Despite Strong Outlook

Cablevision to sell satellite assets to EchoStar; Fortune Brands beats the Street; plus more of Friday's stocks in the news

General Electric (GE ) posted 51 cents, vs. 45 cents fourth-quarter earnings per share on an 18% revenue rise. The company is "very confident" about achieving 10% to 15% earnings per share growth in 2005 and sustaining this growth into 2006. The shares finished lower on Friday.

Cablevision (CVC ) agrees to sell its Rainbow DBS satellite assets to EchoStar (DISH ) for $200M. Deutsche Bank upgrades to buy from hold. S&P reiterates hold.

Fortune Brands (FO ) posted $1.29, vs. $1.07 fourth-quarter earnings per share before items on a 15% sales rise (benefited 4% from the net impact of acquisitions, excise taxes, and favorable foreign exchange). The company expects double-digit earnings per share growth (before items) in 2005.

KLA-Tencor (KLAC ) posted 61 cents, vs. 22 cents second-quarter earnings per share on a 57% revenue rise.

Archipelago emerges as frontrunner to buy Instinet Group (INGP ), according to people close to situation. The deal could be valued at between $2 billion to $3 billion, according to the Financial Times.

Xilinx (XLNX ) posted 18 cents, vs. 19 cents third-quarter earnings per share on a 2.8% revenue drop. The company sees fourth-quarter revenues up 1% to 5% sequentially, and 62% gross margin.

Harmonic (HLIT ) posted 14 cents, vs. 2 cents fourth-quarter earnings per share (GAAP) on 52% higher sales. The company sees 2 cents to 6 cents first-quarter earnings per share (GAAP) on $70 million to $75 million in sales.

CheckFree (CKFR ) posted 14 cents second-quarter earnings per share, vs. a 2-cent loss (GAAP) on 24% higher revenues. The company sees 12 cents to 14 cents third-quarter earnings per share (GAAP) on $187 million to $192 million in revenues. It raises its 34 cents fiscal 2005 earnings per share (GAAP) to 36 cents.

Jones Apparel Group (JNY ) cuts 40 cents to 45 cents fourth-quarter earnings per share guidance to 28 cents to 30 cents, and $3.00 to $3.10 2005 earnings per share guidance to $2.75 to $2.90.

Scientific-Atlanta (SFA ) posted 38 cents, vs. 33 cents second-quarter earnings per share on a 6% revenue rise.

Gemstar-TV Guide (GMST ) confirms it in settlement talks with Scientific-Atlantic to resolve outstanding litigation between the two companies. Gemstar-TV Guide says it does not anticipate any settlement payment it may receive would have material impact its operating results.

Synaptics (SYNA ) posted 33 cents, vs. 13 cents second-quarter second-quarter earnings per share on a 65% revenue rise. The company sees third-quarter revenue flat compared to second-quarter, and fourth-quarter revenue up sequentially.

Adaptec (ADPT ) sees a 3-cent third-quarter loss on $126.5 million in revenue, vs. prior guidance of 4 cents to 5 cents earnings per share, and $133 million to $137 million in revenue. S&P reiterates its hold rating.

Callaway Golf (ELY ) posted a 42-cent fourth-quarter loss, vs. a 50-cent loss (GAAP) on flat sales.

First Albany and Wachovia upgrade Bebe Stores (BEBE ). Yesterday, the company posted 39 cents, vs. 23 cents second-quarter earnings per share on 27% higher same-store sales, and 36% higher total sales. The company also forecast 11 cents to 14 cents third-quarter earnings per share on comparable sales growth in the mid-teens.

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