Siebel Shares Gain on Raised Guidance

General Mills sells interest in cereal unit; Sungard board okays spinoff; plus more of Monday's stocks in the news

Siebel Systems (SEBL ) shares finished higher Monday after the company said it expects thirrd-quarter total revenue to be about $315 million to $317 million, and license revenue to be about $104 million to $105 million, exceeding analyst expecations. Siebel is comfortable with fourth-quarter financial analyst expectations. Adams Harkness upgraded the shares to buy from market perform. S&P keeps hold.

Freddie Mac (FRE ) will restructure certain mortgage securities operations, cease market-making activities of its Securities Sales & Trading Group business unit, and discontinue its Money Manager program.

General Mills (GIS ) will sell $835 million of preferred interests in General Mills Cereals LLC to an affiliate of Lehman Bros. (LEH ). The company will use the proceeds to buy back about 16.5 million shares from Diageo (DEO ).

Nu Skin (NUS ) shares ended sharply lower after the company said it sees third-quarter earnings per share of 27 cents to 28 cents (excluding a one-time charge) on revenue of about $282 million. It also sees 2004 EPS of $1.03 to $1.05 and 2005 EPS growth of 10% to 15%. S&P downgraded the shares to hold. Banc of America put its estimates under review.

SuportSoft (SPRT ) shares finished sharply lower after the company posted preliminary $11.9 million to $12.3 million third-quarter revenues. It expects a 1 cent to 4 cents loss per share (GAAP basis).

XM Satellite Radio (XMSR ) added "more than" 415,000 new subscribers in the third quarter. It says it is on a pace to exceed 3.1 million subscribers by yearend. Bear Stearns says the third-quarter new subscribers number is below estimates.

RadioShack (RSH ) says it is now operating wireless kiosks in 542 Sam's Club locations. The company sees 2004 free cash flow of $30 million to $40 million (including start-up costs), vs. previous guidance of $72 million. It sees 19% to 21% 2005 earnings per share growth on 6% to 8% sales growth.

PeopleSoft (PSFT ) expects third-quarter license revenues of $155 million to $165 million, with total revenue of $680 million to $695 million. It sees third-quarter EPS of 13 cents to 14 cents on a pro-forma basis and 3 cents to 4 cents on a GAAP basis.

The board of Sungard Data Systems (SDS ) okayed a plan to spin off its availability services business to stockholders through a tax-free distribution of shares.

Atherogenics' (AGIX ) testing of AGI-1067 being called into question by a leading cardiologist. One researcher says the study changed what it was examining part way through the study, according to a report in Barron's.

Micrel (MCRL ) lowered its third-quarter sequential revenue guidance to $67 million to $68 million, noting weak demand.

Bear Stearns downgraded General Motors (GM ) to peer perform from outperform.

Atheros Communications (ATHR ) sees third-quarter earnings per share (non-GAAP) of 2 cents to 3 cents on revenue of $37.5 million to $38.5 million. Atheros says some customers are continuing to work through excess inventories.

ElkCorp (ELK ) lowered its 43 cents to 46 cents first-quarter earnings per share guidance to 31 cents to 32 cents. The company cited continued competitive pricing pressure, a delay in the Ortloff licensing fee, and the impact of recent hurricanes. It reaffirmed its $2.00 to $2.05 fiscal 2005 earnings per share guidance.

Swift Transportation (SWFT ) announced that a previously disclosed informal SEC inquiry exploring stock trades by the company and insiders has become a formal investigation.

NBTY (NTY ) says third-quarter sales rose 17% to $426 million.

CMS Energy (CMS ) plans to offer 22 million shares under its currently effective shelf registration statement.

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