Circuit City Warns
Circuit City (CC ) posted 2% lower January same store sales, and sees 21 cent to 26 cents fourth quarter earnings per share from continuing operations. S&P raised to hold from avoid.
Footstar (FTS ) reached an agreement to supply up to 1,500 Wal-Mart stores with Thom McAn footwear.
Hotels.com (ROOM ) posted 37 cents vs. 27 cents fourth quarter earnings per share (adjusted) on a 92% revenue rise, citing the successful launch of www.hotels.com, which produced over $80 million in fourth quarter revenues.
Felcor Lodging (FCH ) posted 11 cents vs. 21 cents fourth quarter funds from operations, and sees 14 cents to 18 cents first quarter funds from operations.
Advisory Board (ABCO ) posted 22 cents vs. 13 cents third quarter earnings per share (pro forma) on 25% higher revenues, and sees 25 cents fourth quarter earnings per share (pro forma) on $26.8 million revenues. UBS Warburg raised its estimates.
Hain Celestial (HAIN ) posted 24 cents vs. 15 cents second quarter earnings per share on a 17% sales rise. The Natural foods company sees $123 million to $128 million in third quarrter sales, and 22 cents to 23 cents earnings per share, as well as $113 million to $117 million fourth quarter sales, and 19 cents to 20 cents earnings per share. BB&T Capital keeps strong buy.
J.P. Morgan says it is confident Intuit (INTU ) will meet or exceed its second quarter estimates, and believes the current levels represent an attractive entry point.
EResearchTechnology (ERES ) posted 25 cents vs. 12 cents fourth quarter earnings per share (including items) on a 55% revenue rise, and 16 cents vs. four cents operating earnings per share. He sees 18 cents to 20 cents first quarter earnings per share, exceeding analysts' estimates by six cents to eight cents; and 82 cents to 86 cents 2003 earnings per share.
El Paso (EP ) expects to cut its quarterly dividend to four cents, and plans to sell $2.9 billion of non-core assets in 2003. The energy company sees $1.00 2003 ongoing earnings per share. S&P downgraded.
Food retail and distribution company Nash Finch (NAFCE ) reportedly says the SEC has begun a formal investigation of the company. Its auditor resigned on Jan. 28.
Merrill downgraded 99 Cents Only (NDN ) to neutral from buy. Wedbush Morgan cut its estimate and target. On Tuesday the company posted 28 cents vs. 23 cents fourth quarter earnings per share on a 22% revenue rise.
Masco (MAS ) announced the unexpected passing of president and COO Raymond F. Kennedy.
Linens'n Things (LIN ) posted 90 cents vs. 78 cents fourth quarter earnings per share on 4% higher same store sales, and sees 10 cents to 12 cents first quarter earnings per share, and $1.77 to $1.85 for fiscal 2004 on $2.5 billion in sales.
Dollar Thrifty (DTG ) posted a 16-cent fourth quarter loss (including a one-time cost) vs. a 57-cent loss on a 25% revenue rise. The company expects first quarter results to fall below last year's due to weaker pricing, and the Easter holiday travel season shifting back to the second quarter, as well as a weaker used car market.
Tommy Hilfiger (TOM ) posted 38 cents vs. 41 cents third quarter earnings per share from operations on flat revenues, and sees $1.00-$1.20 fiscal 2004 earnings per share, and net revenues in the mid to high single digit percentage range, with comparable declines in each half of year. Metro Goldwyn (MGM ) posted $0.24 vs. $0.16 fourth quarter earnings per share on 65% revenue rise. MGM ses 3% to 5% 2003 revenue growth, and a 28-cent to 38-cent 2003 loss.
Cisco Systems (CSCO ) posted 15 cents vs. nine cents second quarter earnings per share (pro forma) as lower operating costs offset 2.1% lower sales. Analysts were expecting earnings of 13 cents a share. The networking products manufacturer posted 14 cents vs. nine cents second quarter earnings per share (GAAP), and reportedly expects third quarter revenue to fall as much as 3%. S&P reiterates buy.
Computer Science (CSC ) posted 61 cents vs. 51 cents third quarter earnings per share as lower costs offset 3.5% lower revenue. The company currently expects fourth quarter earnings per share will be in the range of 95 cents, and revenue to decrease 2% to 4% (excluding the acquisition of DynCorp). S&P reiterates hold.
Whirlpool (WHR ) posted a 42-cent fourth quarter loss vs. 31 cents earnings per share as charges offset an 11% sales rise. The home appliance maker posted $1.64 vs. $1.58 fourth quarter core earnings per share, and sees $6.20 to $6.40 2003 earnings per share.
Papa John's ( PZZA ) expects fourth quarter earnings per share to near the lower end of a previous 58 cents to 61 cents guidance. The pizza chain posted 1.8% higher domestic systemwide same store sales.
Allstate (ALL ) raised its quarterly dividend by 9.5% to 23 cents.
Benchmark Electronics (BHE ) posted 50 cents fourth quarter earnings per share (GAAP) vs. a two-cent loss on a 74% sales rise, and sees $440 million to $455 million fiscal revenue, and 42 cents to 46 cents earnings per share for 2003.
Moody's (MCO ) posted 45 cents vs. 37 cents fourth quarter earnings per share on a 23% revenue rise, and sees low double-digit earnings per share growth in 2003 before the impact of expensing stock options, estimated at four cents.
Boston Scientific (BSX ) posted 31 cents vs. 20 cents fourth quarter earnings per share from operations on a 20% revenue rise. S&P reiterates buy.