GE Posts Higher Third Quarter Profits
Conglomerate General Electric (GE ) posts higher third quarter earnings per share of $0.33 versus $0.32 of a year ago on 7% revenue rise.
Idec Pharmaceuticals (IDPH ) sees $0.16 third quarter earnings per share and S&P reiterates buy.
AmeriCredit (ACF ), a financing company, posted first quarter earnings per share of $0.88 vs. $0.51 on a 64% revenue rise. Robertson Stephens downgrades to buy from strong buy while S&P keeps accumulate rating.
Silicon Storage (SSTI ) sees $0.01-$0.02 third quarter earnings per share (pro forma) on revenues of $73 million to $77 million.
Internet media company Yahoo! (YHOO ) posts third quarter earnings per share of $0.01 versus $0.13 (pro forma) on a 44% sales decline.
Retailer Ann Taylor (ANN ) sees $0.42-$0.46 third quarter earnings per share and posted a 14% September same-store sales decline, 2.5% total sales decline.
Wal-Mart (WMT ) posts a 6.3% September same-store sales rise and a 15% total sales rise.
Silicon Storage (SSTI ) sees $0.01-$0.02 Q3 EPS (pro forma) on revenues of $73M-$77M. CS First Boston raises estimates.
Merrill upgraded Staples Inc. (SPLS ) to near, long term buy from accumulate. The firm also raised its rating on Office Depot (ODP ) to near term accumulate from neutral.
IDEC Pharmaceutical (IDPH ) says a collaboration between it and Genentech achieved U.S. net sales of Rituxan totaling $205M in Q3. Based on this, Idec sees $0.16 Q3 EPS. S&P reiterates buy.
Allstate Corp. (ALL ) sees $0.53-$0.57 Q3 EPS. The insurer cites higher homeowners loss trends and losses sustained by its Property-Liability and Allstate Financiall businesses from the September 11 terrorist attacks.
Genentech (DNA ) posted $0.20 vs. $0.16 Q3 EPS (pro forma) on 34% higher product sales. S&P maintains hold.
E*Trade Group (ET ) posted $0.03 vs. $0.02 Q3 EPS from ongoing operations despite a 14% revenue decline. The discount brokerage raised its $0.02 Q4 EPS guidance to $0.04, and reiterated its previous $0.35-$0.49 2002 EPS guidance. S&P maintains hold.