Toys "R" Us Narrows Potential Buyers

J.P. Morgan spins off private equity unit; UBS upgrades Sirius Satellite and XM Satellite; plus more of Tuesday's stocks in the news

Toys "R" Us (TOY ) has narrowed its offers to four buyout firms in the final round of bidding. The four offers range from $3 billion to $3.5 billion, according to the Wall Street Journal.

Exxon Mobil (XOM ) sells its stake in Sinopec for $1.4 billion.

J.P. Morgan Chase (JPM ) will spin off its private equity unit, JPMorgan Partners.

UBS Financial upgrades Sirius Satellite (SIRI ) and XM Satellite Radio (XMSR ) to buy from neutral.

Continental Airlines (CAL ) reaches a tentative agreements on new contracts covering the company's pilots, flight attendants, mechanics, and dispatchers.

Merrill upgrades Johnson & Johnson (JNJ ) to buy from neutral.

RF Micro Devices (RFMD ) says it will discontinue its internal wireless local area network (WLAN) chipset development efforts. The company will record non-cash charges related to closing of locations and elimination of about 80 jobs.

OmniVision Technologies (OVTI ) Posts 33 vs. 29 third-quarter earnings per share on 8.8% revenue rise. Sees 29- 34 fourth-quarter earnings per share on $93M-$103M revenue. Jefferies downgrades to hold from buy.

Spanish-language media company Univision Communications (UVN ) posted 19 cents, vs. 17 cents fourth-quarter earnings per share on a 13% revenue rise. The company sees 10 cents to 11 cents first-quarter earnings per share. S&P reiterates hold.

Audiovox (VOXX ) announces a delay in filing its fiscal 2004 10-K due to the fact that its auditors require additional time to complete fiscal 2002 audit of the company and its units.

Eon Labs (ELAB ) posted 33 cents, vs. 21 cents fourth-quarter earnings per share on a 16% sales rise.

Steve Madden (SHOO ) posted 3 cents, vs. 18 cents fourth-quarter earnings per share as a lower gross margin offset a 9.5% same-store sales rise and 19% total sales rise. The company sees continued margin pressure in its wholesale business and higher cost of goods sold. It sees 65 cents to 68 cents 2005 earnings per share.

Checkpoint Systems (CKP ) says it has postponed its fourth-quarter earnings release and conference call. The delay provides additional time for management to review and the company's independent accountants to audit the company's financial results.

Dycom Industries (DY ) posted lower-than-expected 15 cents, vs. 20 cents (excluding a gain) second-quarter earnings per share as higher total costs and expenses offset 14% higher contract revenue. The company sees 23 cents to 28 cents third-quarter earnings per share on $235 million to $250 million in revenue and 35 cents to 45 cents fourth-quarter earnings per share on $275 million to $295 million in revenue.

Cablevision Systems (CVC ) says it and Voom HD have ended discussions without reaching a definitive agreement regarding the acquisition by Voom HD of business, assets, and liabilities of Cablevision's Rainbow DBS satellite business.

eSpeed Inc. (ESPD ) posted 9 cents, vs. 15 cents fourth-quarter earnings per share (non-GAAP) on flat revenue and higher operating costs. The company says a fully electronic volume declined 18% in the fourth quarter. It sees 3 cents to 4 cents first-quarter earnings per share (non-GAAP) on more than $37 million in revenue. It expects 2005 revenue of more than $150 million.

R.R. Donnelley (RRD ) posted 61 cents, vs. 85 cents fourth-quarter earnings per share (GAAP) as charges, write-down of investment, and other items offset a 77% sales rise.

Volterra Semiconductor (VLTR ) says a former employee was arrested by federal agents on a criminal complaint charging the former employee with illegally e-mailing to a semiconductor company in Taiwan proprietary "data sheets" containing product specs.

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