Texas Instruments Posts Higher Profit

NetFlix earnings climb; Starwood net rises; plus more of Tuesday's stocks in the news

Texas Instruments (TXN ) posted second quarter earnings per share of 38 cents, vs. 25 cents one year earlier, as higher gross profit and a 6-cent tax benefit offset flat revenue. The company sees third quarter earnings per share of 31 cents to 35 cents on $3.29 billion to $3.56 billion in revenue. The company will raise its dividend 20%; it also set a $2 billion stock buyback. S&P reiterates hold.

Netflix (NFLX ) posted second quarter earnings per share of 9 cents, vs. 4 cents (GAAP basis) on a 37% revenue rise. The company sees 2005 revenue of $678.1 million to $688.1 million and GAAP net income of $2.4 million to $11.9 million (up from previous guidance of a 5 million to $15 million loss). S&P keeps its sell recommendation.

Rent-A-Center (RCII ) posted second quarter earnings per share of 52 cents, vs. 62 cents, as higher operating costs offset a 1.3% revenue rise. The company sees 38 cents to 42 cents 2005 earnings per share, citing fewer agreements on rent relative to prior expectations due to weaker demand.

ON Semiconductor (ONNN ) posted second quarter earnings per share of 5 cents, vs. a 2-cent loss, as the absence of loss on debt prepayment offset 9% lower revenue. The company sees third quarter revenue up 2% to 5% sequentially.

Avaya (AV ) posted third quarter earnings per share of 40 cents, vs. 13 cents, including items, on a 22% revenue rise.

Pentair (PNR ) posted second quarter earnings per share of 63 cents, vs. 55 cents, on a 49% revenue rise. The company set third quarter earnings per share guidance of 43 cents to 47 cents. It tightened its full-year 2005 EPS guidance to $2.00 to $2.05.

Reuters Group (RTRSY ) posted first half earnings per share of 9.0 pence, vs. 21.3 pence, on a 2.3% revenue drop. The company sees underlying recurring revenue growth of 1% to 2% in the second half.

Starwood Hotels (HOT ) posted second quarter earnings per share of 65 cents, vs. 56 cents (including items), on a 14% revenue rise. It sees earnings per share of 51 cents for the third quarter and $1.62 for all of 2005 (before special items).

JDA Software (JDAS ) posted second quarter earnings per share of 12 cents, vs. 2 cents (GAAP basis), on a 2% rise in revenue.

Airtran Holdings (AAI ) posted better-than-expected second quarter earnings per share of 13 cents, vs. 18 cents, as the impact of record high fuel prices offset a 33% revenue rise.

Danaher (DHR ) will acquire Leica Geosystems for an aggregate price of $950 million, including transaction costs, net of estimated cash to be acquired. Danaher expects to assume about $80 million of debt in connection with the deal.

Advanta (ADVNB ) posted second quarter earnings per share of 64 cents, vs. 41 cents, as lower loan loss provisions offset lower net interest income.

Cendant (CD ) posted second quarter earnings per share from continuing operations of 37 cents, vs. 41 cents, despite an 8% revenue rise.

Lockheed Martin (LMT ) posted second quarter earnings per share of $1.02 (including a 6-cent gain) vs. 66 cents, on a 6% sales rise. The company sees 2005 EPS of $3.60 to $3.65.

Intuitive Surgical (ISRG ) will be added to the S&P MidCap 400 index after the close of trading July 29, replacing Titan Corp., which is being acquired.

Chaparral Steel (CHAPV ) will be added to the S&P SmallCap 600 index after the close of trading July 29, replacing Enesco Group.

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