McDonald's Climbs on Stronger Store Sales

Univision soars; Nvidia sinks; plus more of today's stocks in the news

McDonald's (MCD ) posted 11% higher July systemwide sales, and reported slightly lower Europe July comparison sales. McDonald's Japan, which is 50% owned by McDonald's, cut its full-year profit estimate by 47%. Lehman raised estimates.

Univision Communications (UVN ), the No. 1 U.S. Spanish-language media company, posted 16 cents, vs. 9 cents a year ago, second-quarter earnings per share despite a slight revenue decline. Univision sees 11 cents to 13 cents third-quarter earnings per share, and a net revenue increase by the mid-teen percentage. Univision's plan to buy Hispanic Broadcasting is pending FCC approval.

Chip designer Nvidia (NVDA ) posted 14 cents, vs. 3 cents a year ago, second-quarter earnings per share on an 8% revenue rise. S&P maintains hold, and lowered the fiscal 2004 earnings per share estimate after Nvidia guided for flat-to-down gross margin in the third quarter. Thomas Weisel downgraded.

Goldman downgraded Payless Shoesource (PSS ) to underperform from in-line. On Thursday the shoe retailer forecast a small second-quarter profit, and posted July comparisons.

O'Charley's (CHUX ) posted 27 cents, vs. 30 cents, second-quarter earnings per share as a decline in same-store sales at O'Charley's restaurants offset a 56% revenue rise. It sees 21 cents to 24 cents third-quarter earnings per share, and $1.16 to $1.20 earnings per share in 2003.

Wedbush Morgan reportedly downgraded Too to hold from buy. On Thursday the retailer forecast an 11-cent second-quarter loss (including charges).

Hispanic Broadcasting (HSP ) posted 12 cents, vs. 9 cents, second-quarter earnings per share on a 13% revenue rise. It sees revenue growth of 10% to 13% in the third quarter. Thomas Weisel says the results are above expectations, and reiterates outperform.

Winn-Dixie Stores (WIN ) posted 44 cents, vs. 37 cents, fourth-quarter earnings per share from continuing operations despite 4.5% lower sales. The grocery chain adjusted the fiscal 2004 earnings per share estimate to reflect more aggressive pricing and a promotional stance going forward. Merrill downgraded to sell.

Deutsche Bank reportedly upgraded XM Satellite Radio (XMSR ) to buy from hold.

Tenet Healthcare (THC ) is being investigated by Florida's Medicaid Fraud Control Unit. On Wednesday, Tenet agreed to pay the government $54 million in connection with an investigation regarding alleged unnecessary cardiac procedures performed at Redding Medical Center in California.

Animation studio Pixar (PIXR ) posted 34 cents, vs. 20 cents, second-quarter earnings per share on a sharp revenue rise. Pixar reportedly sees $1.60 2003 earnings per share.

Learning Tree (LTRE ) posted 6 cents, vs. 16 cents, third-quarter earnings per share on a 13% revenue drop.

Coach (COH ) set a 2-for-1 stock split.

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