Caterpillar Shares Rise

Possis Medical drops; Sanderson Farms declines; plus more of Tuesday's stocks in the news

Goldman upgraded industrial-equipment maker and Dow componentCaterpillar (CAT ) to outperform from in-line, and downgraded Eaton (ETN ) to in-line from outperform.

Possis Medical (POSS ) cut the fiscal 2005 estimate to 70 cents to 82 cents earnings per share on $85 million to $95 million revenue, from 83 cents to 96 cents earnings per share on $92 million to $98 million revenue. Possis cited disappointing study results involving its AngioJet blood clot remover. First Albany downgraded.

Sanderson Farms (SAFM ) posted lower-than-expected $1.69, vs. 78 cents third-quarter earnings per share on a 27% revenue rise. Sanderson says market prices for corn and soybean meal, its primary feed ingredients, increased 15.8% and 46%, respectively. Sanderson cut the fiscal 2004 earnings per share estimate to $4.85 to $5.35.

Perry Ellis (PERY ) posted a 29-cent second-quarter loss, vs. a 36-cent loss on a 36% revenue rise. The apparel maker expects fiscal 2005 results to be in line with the previous guidance.

Schwab Soundview upgraded Synaptics (SYNA ) to outperform from neutral.

Prudential downgraded Abercrombie & Fitch (ANF ) to neutral from overweight.

H.J. Heinz (HNZ ) posted 55 cents, vs. 53 cents first-quarter earnings per share from continuing operations on a 5.3% revenue rise. Analysts had expected 55 cents earnings per share, on average.

General Electric (GE ) plans to expand its retail banking operations in emerging European and Asian markets, and is becoming a more formidable rival for Citigroup (C ), according to The Wall Street Journal.

Cognos (COGN ), the largest Canadian software maker, bid $52.2 million to acquire Frango, a Stockholm-based company specializing in consolidation and financial-reporting solutions.

Transportation and trucking company Yellow Corp. (YELL ) says overall business trends remain consistent with its internal forecast for the third quarter. It expects third-quarter earnings per share to be at least within the previously guided range of $1.20 to $1.25.

Infineon Technologies (IFX ) sees the global semiconductor market growing over 22% this year. The head of U.S. operations told German newspaper Die Welt that there are plans to expand in the U.S., particularly in the memory-chip sector, according to Standard & Poor's European MarketScope.

The government of Ecuador reportedly may terminate Occidental Petroleum's (OXY ) right to drill in that country.

Hair-salon chain Regis (RGS ) posted 59 cents, vs. 50 cents fourth-quarter earnings per share on 1.5% higher same-store sales and 13% higher consolidated revenue. Regis maintains the fiscal 2005 guidance for $2.43 to $2.47 fiscal 2005 earnings per share on a 1% to 2% same-store sales rise and 7% to 8% higher revenue.

Interstate Bakeries (IBC ) says due to a recent decision to close two bakeries, it estimates it will take about a $7.7 million to $9.9 million first-quarter restructure charge.

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