Galyan's Trading Drops

Old Dominion climbs; Nautilus warns; plus more of today's stocks in the news

Coinstar (CSTR ), an operator of coin-counting machines, and Safeway, which represents 10% of Coinstar's 2003 revenue, ended their relationship. Coinstar reiterated the 15 cents to 19 cents second-quarter earnings per share guidance on $42 million to $43.5 million in revenues. Coinstar also sees 74 cents to 85 cents 2003 earnings per share on $170 million to $175 million revenue. S&P downgraded to sell.

Credit Suisee First Boston upgraded Old Dominion Freight (ODFL ) to outperform from neutral. Old Dominion says there's no news, but says it sees benefits from recent industry consolidation.

Home-fitness equipment company Nautilus (NLS ) sees 13 cents to 15 cents second-quarter earnings per share, and $1.00-$1.10 for 2003. Nautilus cited a challenging business environment, competition from the Bowflex product line, and lackluster consumer spending. Adams Harkness downgraded to reduce.

Insituform Technology (INSU ), a maker of pipe systems and equipment, lowered the 29 cents to 33 cents second-quarter earnings per share from continuing operations forecast to 22 cents, citing unanticipated losses and low revenues from Elmore Pipe Jacking, which the company acquired in May, 2002. Adams Harkness downgraded. S&P reiterates avoid.

Prudential downgraded Pacific Sunwear (PSUN ) to hold from buy on valuation.

USB Piper upgraded Andrew Corp. (ANDW ) to market outperform from market perform.

A court affirmed Igen International's (IGEN ) right to terminate a license deal with Roche Diagnostics, but reversed the portion of the judgment that held Roche liable for unfair competition, and vacated a $400 million punitive-damage award against Roche.

Yahoo! (YHOO ) posted 8 cents, vs. 3 cents second-quarter earnings per share on 42% higher revenues, meeting analysts' average estimates. The Internet company upwardly revised the outlook for revenues, and operating income before depreciation and amortization for 2003. But the shares moved lower as some traders had been looking for results to top estimates. First Albany downgraded Yahoo to neutral from buy. S&P reiterates hold.

Wal-Mart (WMT ) posted 2.7% higher June same-store sales, and 11% higher total net sales.

Footwear-apparel maker Nike (NKE ) agreed to acquire Converse for $305 million plus the assumption of certain working capital liabilities.

Kaufman Bros. downgraded Gric Communications (GRIC ) to sell from hold. On Wednesday Kaufman reported that AT&T will use its new WiFi roaming service to support business customers.

Gap (GPS ) posted 10% higher June same-store sales, and 13% higher net sales..

Barnes & Noble (BKS ) posted 11% higher June same-store sales (4.9% higher excluding sales of Harry Potter).

GlaxoSmithKline (GSK ) reached a settlement over a lawsuit with Novartis. GlaxoSmithKline will receive a small cut of U.S. sales of the generic versions of antibiotic Augmentin that were sold, or will be sold, by Novartis and its affiliates from July 2002 to June 2006. Glaxo once counted Augmentin as its second-biggest selling product.

Checkers Drive-In (CHKR ) posted 32 cents vs. 19 cents second-quarter earnings per share on a 8% total revenue rise.

Retailer Joseph A. Bank (JOSB ) posted 15% higher June same-store sales, and 26% higher total sales.

Entergy (ETR ) sees at least $1.15 second-quarter earnings per share.

Costco Wholesale (COST ) posted 7% higher June same-store sales, and 11% higher net sales.

Sungard Data (SDS ) offered to acquire Sherwood International. Terms: 140 Great Britian pence per Sherwood share.

India-based Infosys Technologies (INFY ) posted 44 cents vs. 33 cents first-quarter earnings per ADS on a 49% revenue rise. It sees 45 cents second-quarter EPADS, and $1.81-$1.82 for fiscal 2004.

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