Baidu.com Soars in IPO

Toll Bros. shares drop; S&P announces a number of index changes; plus more of Friday's stocks in the news

American depositary shares of of China-based Internet outfit Baidu.com (BIDU) rocketed higher in their first day of U.S. public trading. An initial 4 million ADSs were offered at $27 per ADS; the closing price on Friday was $123.90.

Toll Bros. (TOL ) shares fell Friday after the homebuilder said it remains on track with its previous outlook of about 70% net income growth in fiscal 2005. Wachovia reportedly downgraded the shares to market perform from market outperform.

Pixar (PIXR ) posted second quarter earnings per share of 10 cents, vs. 32 cents one year earlier, on 60% lower total revenue.

Delphi (PIXR ) shares fell after the company confirmed that it initiated the drawdown of $1.5 billion under its $1.8 billion revolving credit facility in connection with financing operations in context of its talks with unions and General Motors (GM ) regarding consensual restructure of its U.S. operations.

Viacom (VIA.B ) posted second quarter earnings per share from continuing operations of 47 cents, vs. 42 cents, on a 10% revenue rise. The media company says it is on track to deliver revenue growth in the mid-single digit percentage range and high-single digit operating income growth for 2005.

Goodyear (GT ) shares gained after the company posted second quarter earnings per share of 34 cents, vs. 17 cents, on a 10% revenue rise.

Exelon (EXC ) raised its 2005 earnings per share (GAAP) guidance to $3.05-$3.20, its adjusited (non-GAAP) operating earnings per share guidance to $3.00-$3.15. The company cites higher generation margins and load growth at its ComEd and PECO units.

Univision Communications (UVN ) shares fell after the broadcaster posted second quarter earnings per share (excluding a charge) of 24 cents, vs. 24 cents, despite a 2.7% revenue rise. The company sees third quarter earnings per share of 21 cents to 22 cents. S&P reiterates buy. Legg Mason downgrades to hold from buy.

Shares of Audible (ADBL ) dropped after the company reported second quarter earnings per share of 3 cents, vs. one cent, on a 90% revenue rise. The company backed its 2005 guidance. S&P thinks Friday's sell-off is an extreme overreaction and reiterates its strong buy.

Computer Sciences (CSC ) posted first quarter earnings per share of 58 cents, vs. 49 cents, on an 8.6% revenue rise. The company sees fiscal 2006 earnings per share of $3.20-$3.30. Computer Sciences says it will no longer provide certain info technology to Nortel Networks (NT ), and does not expect the related charge to exceed $80 million.

Cardinal Health (CAH ) posted fourth quarter earnings per share from continuing operations (excluding special items) of 78 cents, vs. 97 cents, as higher SG&A costs offset a 15% revenue rise. The company sees fiscal 2006 earnings per share (excluding special items) of $3.30-$3.55.

Affiliated Computer Services (ACS ) posted second quarter earnings per share of 87 cents, vs. 68 cents, on a 14% revenue rise. The company sees fiscal 2006 earnings per share of $3.30-$3.55 on a 25% revenue rise.

Standard & Poor's announced a number of changes to its U.S. equity indexes. Tyson Foods (TSN ) will be added to the S&P 500 index on a date to be announced, replacing Unocal (UCL ), which is being acquired. Murphy Oil (MUR ) will be added to the S&P 500 on a date to be announced, replacing Nextel Communications (NXTL ), which being acquired. Polo Ralph Lauren (RL ) will be added to the S&P MidCap 400 index on a date to be announced, replacing Tyson. Red Robin Gourmet Burgers (RRGB ) will be added to the S&P SmallCap 600 index after the close of trading on Aug. 9, replacing Pinnacle Systems, which is being acquired.

Network Appliance (NTAP ) sees lower-than-expected first quarter earnings per share of 15 cents to 16 cents on revenue of $446 million to $449 million. The company cites a product transition to its new midrange FAS3000 series. Piper Jaffray and Merrill each reportedly downgraded their rating on the shares.

ValueClick (VCLK ) posted second quarter earnings per share of 10 cents, vs. 7 cents, on a 58% revenue rise. The company sees third quarter earnings per share of about 9 cents on revenue of $78 million to $79 million, and 2005 earnings per share of 41 cents to 43 cents on revenue of $269 million to $279 million.

Protein Design Labs (PDLI ) posted second quarter earnings per share of 9 cents, vs. a 12-cent loss (pro forma), on sharply higher operating revenue. The company sees 2005 total operating revenue of $255 million to $271 million, and results ranging from a 5-cent loss to 2 cents earnings per share (pro forma). S&P reiterates its buy opinion.

Hartford Financial Services (HIG ) posted second quarter earnings per share of $1.98, vs. $1.46, on 39% higher net income. The insurer raised its $7.40-$7.70 2005 earnings per share guidance to $7.55-$7.85.

Longs Drug Stores (LDG ) posted flat preliminary July same-store sales and flat total sales.

Chiquita Brands (CQB ) posted second quarter earnings per share of $1.36, vs. 73 cents, on a 20% sales rise.

Federal Signal (FSS ) posted second quarter earnings per share of 23 cents, vs. a 14-cent loss, on an 8.6% revenue rise. The company notes the 2005 second quarter benefited from a $6 million reversal of income tax reserves triggered by completion of a five-year U.S. federal tax audit and a $1.6 million reduction in deferred taxes.

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