Tiffany & Co. Sinks
Tiffany & Co. (TIF ) posted lower-than-expected 25 cents, vs. 28 cents second-quarter earnings per share despite a 10% rise in U.S. same-store sales. Sales in Japan were weak. Banc of America downgraded to neutral from buy. S&P cut its estimate and target.
Cyberonics (CYBX ) posted a 12-cent first-quarter loss, vs. 10 cents earnings per share on 5.7% lower net sales. Cyberonic sees flat second-quarter sequential sales growth, and a 38-cent loss. The FDA notified Cyberonics that its pre-marketing approval supplement for its VNS device, absent additional information, isn't approvable. Edwards downgraded to sell from buy.
Hewlett-Packard (HPQ ) posted 24 cents, vs. 23 cents third-quarter earnings per share (non-GAAP) on a 9% revenue rise. H-P posted 19 cents GAAP earnings per share. The technology company sees fourth-quarter revenue of $21 billion to $21.5 billion, and 35 cents to 39 cents earnings per share (non-GAAP), short of analysts' expectations. S&P keeps the hold ranking, and Goldman keeps the in-line rating.
AnnTaylor (ANN ) posted 41 cents, vs. 30 cents second-quarter earnings per share on 7% higher same-store sales and a 21% net sales rise. The women's retailer sees flat-to-slightly negative August same-store sales, and $1.79 to $1.83 fiscal 2005 earnings per share. S&P keeps accumulate. First Albany raised its estimate.
Pep Boys (PBY ) posted 29 cents, vs. 30 cents second-quarter earnings per share from continuing operations despite 6.9% higher same-store sales and 6.7% higher total sales. S&P cut its estimates and maintains the hold ranking.
Deutsche Bank downgraded RF Micro Devices (RFMD ) to sell from hold.
Target (TGT ) posted $1.54, vs. 39 cents second-quarter EPS (GAAP) on 10% higher total revenues.
UBS Financial downgraded Corning (GLW ) to neutral from buy.
Wal-Mart (WMT ) posted 62 cents, vs. 56 cents second-quarter earnings per share on a 4.1% rise in total U.S. same-store sales and a 11% total sales rise. Revenue rose 11.3% to $69.7 billion. Analysts were expecting 61 cents earnings per share, on average. The world's largest retailer says it's on track for another record year.
Urban Outfitters (URBN ) posted 25 cents, vs. 12 cents second-quarter earnings per share on a 26% rise in total same-store sales and a 54% total sales rise.
Media giant News Corp. (NWS ) posted 29 cents, vs. 24 cents fourth-quarter earnings per American Depositary Receipt on a 20% revenue rise.
Children's Place (PLCE ) posted a 37-cent second-quarter loss, vs. a 35-cent loss despite a 10% rise in same-store sales and a 19% rise in total sales. The retailer continues to anticipate fiscal 2005 earnings per share growth of about 40%.
Mamma.com (MAMA ) posted 1 cent second-quarter earnings per share vs. a 7-cent loss on an 88% revenue rise.
Watson Wyatt (WW ) posted 39 cents, vs. 38 cents fourth-quarter earnings per share on a slight revenue rise. The human-resources consulting firm sees 38 cents to 40 cents first-quarter earnings per share, and $1.63 to $1.65 in fiscal 2005. Watson Wyatt sees increased fiscal 2005 operating expenses due to higher insurance premiums, additional professional fees, and higher compensation.