Cisco Meets Targets

NDCHealth drops; AmeriCredit climbs; plus more of Tuesday's stocks in the news

Cisco Systems (CSCO ) posted 20 cents fourth-quarter earnings per share, vs. xx. Excluding charges, Cisco earned 21 cents earnings per share . Revenues were $5.9 billion. Analysts had expected, on average, 20 cents a share and sales of $5.89 billion.

AmeriCredit (ACF ) posted 51 cents fourth-quarter earnings per share, vs. an 11-cent loss, on a 13% increase in auto-loan purchases. The lender raised its fiscal 2005 earnings per share guidance to $1.44 to $1.56. Piper Jaffray upgraded to outperform from market perform.

Andrx (ADRX ) posted 9 cents, vs. 20 cents second-quarter EPS as $33 million in charges offset a 6.7% revenue rise. The drug maker notes revenues from distributed products did not experience sequential growth.

Internet-advertising company ValueClick (VCLK ) raised the third-quarter guidance to give effect to the acquisition of privately-held Pricerunner AB. ValueClick now sees $37 million to $39 million third-quarter revenue, 6 cents earnings per share, $150 million to $154 million in 2004 revenue, and 26 cents to 29 cents earnings per share.

Satellite broadcaster EchoStar Communications (DISH ) posted 18 cents, vs. 27 cents second-quarter earnings per share despite a 26% revenue rise, and set an additional $1 billion stock buyback.

May Department Stores (MAY ) posted 36 cents, vs. 30 cents second-quarter EPS (excluding charges) despite a 2.2% same-store sales drop and a 1.5% total sales decline.

Cephalon (CEPH ) says a unit of Barr Pharmaceuticals (BRL ) has obtained the rights to license a generic version of Cephalon's Actiq treatment for cancer pain. The Federal Trade Commission approved Cephalon's acquisition of Cima Labs. Thomas Weisel and Morgan Stanley downgraded Cephalon.

NDCHealth (NDC ) posted a 5-cent fourth-quarter loss from continuing operations, vs. 31 cents EPS on flat revenue, non-cash, restructuring charges, and other expenses. NDCHealth will sell its European operations. Bear Stearns cut its estimates.

Esco Technologies (ESE ) posted 90 cents, vs. 32 cents third-quarter EPS (GAAP) on a 19% revenue rise. It raised the $2.42 to $2.52 2004 EPS from continuing operations estimate to $2.72 to $2.77.

Four Seasons Hotels (FS ) posted 46 cents second-quarter earnings per share, vs. a 4-cent loss on a 20% revenue rise. The luxury-hotel group expects third-quarter revenue per available room for worldwide core hotels in the third quarter to increase more than 10% from last year.

Pacific Sunwear (PSUN ) posted 25 cents, vs. 18 cents second-quarter earnings per share on 6.8% higher company same-store sales and 17% higher total sales. The retailer sees third-quarter and fourth-quarter same-store sales growth of 5%, and fiscal 2005 earnings per share of $1.35. S&P reiterates buy.

Bally Total Fitness (BFT ) says it's postponing its second-quarter financials and filing of its Form 10-Q quarterly report with the Securities & Exchange Commission due to the examination of certain accounting issues.

Interstate Bakeries (IBC ) will restate unaudited financials for the quarters ended Nov. 15, 2003, and Mar. 6, 2004, to reflect a $40 milion charge to pre-tax income representing increased reserves for workers' compensation. The baked-goods company sees a fourth-quarter loss of 28 cents, including charges.

Lehman Bros. downgraded Xilinx (XLNX ) to equal-weight from overweight, and cut Intel's (INTC ) 2005 earnings per share estimate and target. The brokerage firm also downgraded the semiconductor group to neutral.

Nvidia (NVDA ) set a $300 million stock buyback. Needham upgraded the shares to buy from hold.

Alkermes (ALKS ) says Eli Lilly (LLY ) will proceed with a significant investment for further development of an inhaled formulation of insulin.

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