Sun Micro Misses Revenue Estimates

Apple soars on first-quarter results; Harmonic's sales exceed guidance; plus more of Thursday's stocks in the news

After the close of trading Thursday, Sun Microsystems (SUNW ) posted 1 cent second-quarter earnings per share on revenue of $2.84 billion. Consensus estimates were for 1 cent earnings per share on $2.93 billion of revenue.

Apple Computer (AAPL ) posted 70 cents, vs. 17 cents first-quarter earnings per share on 74% higher revenue. The company cites strength in iPod and Macintosh computer sales. It sees about 40 cents second-quarter earnings per share on $2.9 billion of revenue. Banc of America upgrades to buy. S&P keeps a hold rating.

Fiber-optic systems maker Harmonic Inc. (HLIT ) sees $83 million to $86 million fourth-quarter net sales, exceeding its previous guidance of $72 million to $78 million, reflecting stronger-than-expected bookings in the fourth quarter. S&P raises its estimates and target.

Taser International (TASR )gains after a member of the company's Scientific & Medical Advisory Board says study results published in Pacing and Clinical Electrophysiology Journal confirm extraordinarily wide safety margins for fibrillation induction in Taser-like products.

Lilly (Eli) (LLY ) said it plans to correct inaccurate statements about its Prozac circulating in the news media based on a collection of random papers anonymously sent to the British Medical Journal.

Sports Authority (TSA ) cut fourth-quarter guidance to 90 cents to 95 cents earnings per share on 2% lower same-store sales from $1.08 earnings per share on flat comparable sales. It cites weak sales of winter products, hunting, camping gear, and holiday items. S&P reiterates its sell rating.

RadioShack (RSH ) posted 3% higher fourth-quarter same-store sales, and 6.7% higher total sales. The company reaffirms its fiscal 2005 earnings per share guidance of $2.07 to $2.09. It reaffirms fiscal 2006 earnings per share guidance of 19% to 21% above fiscal 2005 guidance. (TSCM ) retains investment bank Allen & Company to assist it in considering possible strategic alternatives.

Kenneth Cole (KCP ) sees lower-than-expected $133 million to $135 million in fourth-quarter revenue, and 43 cents to 45 cents earnings per share. The company sees $1.72 to $1.74 2004 earnings per share. It cites a generally challenging December, particularly in its consumer direct business.

Based on preliminary figures, Infineon Technologies (IFX ) expects first-quarter revenues and EBIT of about 1.82 billion euro and 211 million euro, below market expectations.

Borders Group (BGP ) posted 1.4% higher fourth-quarter same-store sales at Borders superstores, 1.6% lower comparable sales at Waldenbooks, and 4.8% higher total sales. The book retailer sees fourth-quarter earnings per share of $1.60 to $1.62, at the high end of its previous projection. S&P keeps its hold rating.

Agilent Technologies (A ) sees a 1-cent third-quarter loss, vs. a 9-cent loss a year ago, on 46% higher product revenues of $9.6 million.

Red Robin Gourmet (RRGB ) sees lower-than-expected 33 cents to 34 cents fourth-quarter earnings per share due to higher-than-anticipated food costs for tomatoes and expenses associated with Sarbanes-Oxley compliance.

Napster (NAPS ) says during the holiday period paid subscribers increased sequentially by 50% in the third quarter.

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