ADM Shares Climb

Sirius revenues rise, but higher costs widen loss; PortalPlayer sees second quarter losses; plus more stocks in the news Tuesday

Shares of Archer-Daniels-Midland (ADM) surged Tuesday after the company posted 53 cents vs. 41 cents (including 11 cents gain) and third quarter EPS on a 7.5% net sales rise. S&P upgraded the shares to buy from hold.

St. Paul Travelers (STA) posts $1.41 vs. $1.23 first quarter operating earnings per share (EPS) despite a 1% revenue drop. It raises 2006 EPS guidance by about 30 cents to between $4.70 and $5.00. It raises its quarterly dividend 13%.

Sirius Satellite Radio (SIRI) posts 13 cents first quarter loss vs. 12 cents loss (adjusted) as higher costs offset a sharp revenue rise. It sees over 6.2 million subscribers at year-end. It also sees 2006 revenue of more than $600 million and 2007 revenue of about $1 billion.

PortalPlayer (PLAY) posts 26 cents vs. 31 cents first quarter EPS (GAAP) despite a 63% revenue rise. It says it is disappointed with the product transition setback announced on April 19. It sees 3 cents loss to 5 cents EPS in the second quarter (GAAP) on revenue of $30 million to $40 million.

Verizon Communications (VZ) posts 60 cents vs. 63 cents first quarter adjusted EPS as higher expenses offset a 25% revenue rise.

Monolithic Power (MPWR) posts 7 cents vs. a penny first quarter EPS (non-GAAP) on a 69% revenue rise. It sees second quarter revenue of $25 million to $27 million. Second quarter revenue guidance is seen below Street estimates.

Shanda Interactive Entertainment (SNDA) says Shujun Li will resign as Sr. VP and CFO, effective June 30, to pursue other opportunities. It promotes Daniel Zhang, Shanda's Financial Controller, to the CFO position effective upon Mr. Li's departure.

Hovnanian Enterprises (HOV) sees lower-than-expected second quarter EPS of $1.40 to $1.50, vs. previous guidance of $1.55 to $1.80. It now sees fiscal year 2006 EPS of $7.20 to $7.40. It notes postponed deliveries, slower recent sales pace, and higher cancellation rates.

Timberland (TBL) posts 45 cents vs. 61 cents first quarter EPS on a 1.2% revenue drop. For 2006, it is now targeting flat to modest revenue growth, and declines in comparable EPS in the 20% to 25% range.

Fresh Del Monte (FDP) posts 28 cents vs. $1.00 first quarter EPS on flat sales, higher fruit production, procurement, and fuel-related costs.

Spectrum Brands (SPC) posts a penny second quarter EPS vs. 4 cents loss on a 20% sales rise. It sees 90 cents to $1.00 fiscal year 2006 EPS on $2.6 billion sales. It cites challenges in the European battery market.

Iron Mountain (IRM) posts 20 cents vs. 17 cents first quarter EPS on a 12% revenue rise. It raises its $2.24 billion to $2.31 billion 2006 revenue forecast to between $2.27 billion and $2.32 billion.

Checkpoint Systems (CKP) posts 2 cents vs. 5 cents first quarter EPS from continuing operations on 9% lower revenue.

Mosaic (MOS) plans to restructure its phosphate business and close indefinitely three facilities which are expected to generate cost reduction benefits.

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