EchoStar Drops on Quarterly Loss

Pier 1 declines; Adobe slumps; plus more of today's stocks in the news

Satellite giant EchoStar Communications (DISH ) posted a 9 cents first-quarter loss, vs. 15 cents earnings per share despite 16% higher total revenue. S&P reiterates hold.

Pier 1 Imports (PIR ) posted 1.7% lower April same-store sales and 7.7% higher net sales. The home-furnishing retailer sees negative 4% to 6% May same-store sales growth. Pier 1 cut the 21 cents to 24 cents first-quarter earnings per share guidance to 14 cents to 17 cents.

Prudential downgraded Adobe Systems (ADBE ) to neutral from overweight.

THQ (THQI ) posted 14 cents, fourth-quarter earnings per share, vs. a 20 cents loss on an 84% sales rise. The video-game software maker raised the 94 cents fiscal 2005 earnings per share guidance to $1.05 to $1.10. S&P raised its estimates and reiterates the avoid ranking.

FootLocker (FL ) posted a slight rise in first-quarter same-store sales and 5.1% higher total sales. The retailer currently expects first-quarter earnings per share to be in-line with the previous 10% to 20% growth guidance.

King Pharmaceuticals (KG ) posted 11 cents, vs. 34 cents first-quarter earnings per share from operations on a 14% revenue drop. King withdrew the previous 2004 guidance, as it currently expects results will be lower than estimated. Wachovia downgraded to market perform from outperform.

XM Satellite Radio (XMSR ) posted a 96 cents first-quarter loss, vs. a $1.26 loss on a sharp total revenue rise.

Gap (GPS ) posted 3% higher April same-store sales and 7% higher total sales. Due to strong performance, the retailer expects 31 cents to 32 cents first-quarter earnings per share (including 2 cents in expenses from early retirement of debt). Analysts were expecting an average of 27 cents earnings per share.

Wal-Mart (WMT ) posted 4.4% higher April same-store sales and 12% higher total sales.

Lamar Advertising (LAMR ) posted a 2 cents first-quarter loss, vs. a 32 cents loss on a 9% net revenue rise. Lamar sees 9% to 10% second-quarter EBITDA growth on $225 million net revenue. S&P reiterates hold.

Calpine (CPN ) posted a 17 cents first-quarter loss, vs. a 14 cents loss on a 6% revenue decline. The fuel-cell engine maker reaffirmed the breakeven 2004 (GAAP) guidance and $1.7 billion EBITDA (adjusted).

Urban Outfitters (URBN ) posted 32% higher first-quarter same-store sales and 59% higher total company sales.

Strayer Education (STRA ) posted 76 cents, vs. 61 cents first-quarter earnings per share on a 26% revenue rise, increased enrollment, and a 5% tuition increase. Based on strong enrollment and the earlier-than-anticipated opening of a second new campus, Strayer forecasts 71 cents to 73 cents second-quarter earnings per share.

Williams (WMB ) posted a 1 cent first-quarter loss from continuing operations, vs. a 9 cents loss (restated). Williams reaffirmed the 17 cents to 40 cents 2004 earnings per share, and the $1 billion to $1.3 billion cash flow from operationss guidance.

Dominion Resources (D ) wil take an additional $7 million after-tax charge against first-quarter GAAP earnings per share related to a deal to settle a class-action lawsuit involving a dispute over Dominion's rights to lease fiber-optic cable along a portion of its electric transmission line.

Caremark Rx (CMX ) posted 32 cents, vs. 24 cents first-quarter earnings per share from operations on a 40% revenue rise. Caremark raised the 2004 earnings per share guidance to $1.37 to $1.39, excluding integration and related expenses.

American Eagle Outfitters (AEOS ) posted 8.3% higher April same-store sales and 7.1% higher consolidated April same-store sales, as well as 17% higher total sales. The retailer raised the 25 cents to 30 cents first-quarter earnings per share guidance to 32 cents to 33 cents.

Lockheed Martin (LMT ) was selected to develop a Joint Common Missile system, a next generation air-to-ground missile that will be carried on U.S. Armed Forces rotary- and fixed-wing platforms. The contract is worth about $5 billion over the life of the program.

Gemstar-TV Guide (GMST ) posted a 9 cents first-quarter loss, vs. an 11 cents loss on a 9.4% revenue rise. Gemstar modified the 2004 guidance, and now sees operating income of $20 million to $50 million.

Limited Brands (LTD ) posted 2% higher April same-store sales and 8% higher first-quarter same store sales.

Andrx (ADRX ) posted 36 cents, vs. 9 cents first-quarter earnings per share on a 23% revenue rise.

Pacific Sunwear (PSUN ) posted 11% higher April same-store sales and 22% higher total sales.

Computer Associates (CA ) sees 6 cents to cents 7 fourth-quarter earnings per share (GAAP), and a 4 cents to 6 cents loss in 2004, which is slightly better than previous guidance. The company says it would report financial results one to two week later than the original schedule date of May 12.

Dollar General (DG ) posted 2.1% higher April same-store sales and 10% higher total sales.

Clorox (CLX ) posted 59 cents, vs. 50 cents third-quarter earnings per share on a 7% sales rise. The detergent and bleach company says due to strong third-quarter earnings per share, it now expects $2.52 to $2.55 in fiscal 2004 earnings per share.

News Corp. (NWS ) posted 31 cents, vs. 23 cents third-quarter earnings per ADR on a 19% revenue rise.