Boston Scientific Climbs
Boston Scientific (BSX ) announced positive nine-month results from its Taxus VI drug-eluting stent trial. S&P upgraded to buy from accumulate.
Select Comfort (SCSS ) and Carlson Hotels Worldwide are in an exclusive partnership to have Sleep Number beds available in all Radisson Hotels & Resorts in the U.S., Canada, and the Caribbean.
Bob Evans Farms (BOBE ) says restaurant sales for the first month of the first quarter are lower than expected and raw material costs in food products are up sharply in recent weeks. Bob Evans sees first-quarter earnings per share below expectations, and sees $1.80 to $2.00 fiscal 2005 earnings per share, vs. the previous forecast of $2.03.
The FDA advised Dyax (DYAX ) that an investigational new drug application for its recombinant protein DX-88 is being placed on clinical hold until questions related to findings in preclinical animal studies have been answered to the FDA's satisfaction.
Krispy Kreme Doughnuts (KKD ) posted a 38 cents first-quarter loss, vs. 22 cents earnings per share, as a charge and a loss from discontinued operations offset a 4% comparable systemwide-sales increase and a 24% total revenue rise. Krispy Kreme sees $1.04 to $1.06 in fiscal 2005 earnings per share from continuing operations.
H.J. Heinz (HNZ ) posted 55 cents, vs. 29 cents fourth-quarter earnings per share on a 6.3% sales rise. The ketchup giant sees $2.32 to $2.42 fiscal 2005 earnings per share.
Medtronic (MDT ) posted 47 cents, vs. 40 cents fourth-quarter earnings per share on a 24% revenue rise. Medtronic reported that it expects its Endeavor line of drug-coated stents to add $1 billion in revenue in the 12 months following final U.S. approval.
SBC Communications (SBC ) says the Communications Workers of America tentatively agreed to the terms of a new, five-year contract covering 100,000 SBC employees.
Williams-Sonoma (WSM ) posted 18 cents, vs. 11 cents first-quarter earnings per share on a 6.8% total retail-concept same-store sales rise and a 19% net revenue rise. The kitchen-goods retailer maintained the 18 cents to 20 cents second-quarter earnings per share guidance. It raised the $1.52 to $1.56 fiscal 2005 earnings per share guidance to $1.53 to $1.57.
Deutsche Bank reportedly upgraded oil explorer ChevronTexaco CO (CVX ) to buy from hold.
Bebe Stores (BEBE ) says Wet Seal (WTSL ) has dismissed its lawsuit filed against Bebe and its CEO Greg Scott, who was formerly the CEO of Wet Seal. Bebe says it will be seeking to recover its court costs, and is also contemplating its own legal action in response to the dismissal.
Verisign (VRSN ) offered to acquire Germany's Jamba!, provider of wireless-content services in Europe, in a deal valued at $273 million in cash and stock. S&P reiterates accumulate.
Computer-networking company Novell (NOVL ) posted a 4 cents second-quarter loss, vs. an 8 cents loss (GAAP) on a 6.5% revenue rise. S&P keeps hold.