Eastman Kodak Posts Large Loss

Google net soars; Qwest offers a revised bid for MCI; plus more of Friday's stocks in the news

Eastman Kodak (EK ) posted a 50-cent first-quarter loss, vs. 7 cents earnings per share on a 3% sales drop. The company notes the loss reflects charges for focused cost reductions. It says it remains committed to 2005 operating earnings per share guidance of $2.60 to $2.90.

Google (GOOG ) posted $1.29, vs. 24 cents first-quarter earnings per share (GAAP) on 93% higher revenues.

MCI (MCIP ) received a revised bid from Qwest Communications (Q ) of $16 cash (excluding MCI's Mar. 15 40-cent dividend) and 3.373 Qwest shares (subject to adjusted under collar which fixes value of Qwest shares at $14) per MCIP share. S&P keeps hold.

Amgen (AMGN ) posted 72 cents, vs. 57 cents first-quarter earnings per share (adjusted) on 24% higher total product sales. The company raises $2.70 to $2.85 2005 adjusted earnings per share guidance to $2.80 to $2.90, and total revenue growth outlook to between low double-digits and mid-teens.

DoubleClick (DCLK ) posted a penny first-quarter loss, vs. 5 cents earnings per share (GAAP) as higher operating costs offset a 12% revenue rise. The company sees $71 million to $77 million second-quarter revenue, a 2-cent loss to 2 cents earnings per share (GAAP). The Wall Street Journal reports a buyout firm is nearing a deal for DoubleClick.

SanDisk (SNDK ) posted 39 cents, vs. 34 cents first-quarter earnings per share on 17% higher sales.

Callaway Golf (ELY ) posted 27 cents, vs. 59 cents first-quarter earnings per share (GAAP) on 18% lower sales. S&P reiterates sell.

Xilinx (XLNX ) posted 19 cents, vs. 36 cents fourth-quarter earnings per share on a 3% revenue decline. The company sees first-quarter revenue flat to up 4% sequentially. It raises its quarterly dividend 40%. The company sets a $350 million stock buyback. First Albany reportedly downgrades.

Serono (SRA ) posted 16 cents first-quarter earnings per ADR, excluding a charge, on an 8% revenue rise.

Kenneth Cole (KCP ) posted 37 cents, vs. 36 cents first-quarter earnings per share on 6.1% higher revenues. The company sees $2.00 to $2.06 2005 earnings per share. It sets a 16-cent first-quarter dividend.

Synaptics (SYNA ) posted 38 cents, vs. 13 cents third-quarter earnings per share on a 65% revenue rise. The company sets a $40 million stock buyback.

Hershey (HSY ) posted 47 cents, vs. 41 cents first-quarter earnings per share on an 11% revenue rise. For 2005, the company expects organic sales to be above its ongoing 3% to 4% expectations, and earnings per share growth to be at the top of its stated range of 9% to 11%.

Foundry Networks (FDRY ) posted 7 cents, vs. 14 cents first-quarter earnings per share on a 19% revenue decline. The company says given its reduced visibility in the current U.S. Federal Government market and recent unexpected sluggishness of enterprise IT spending, it suspends providing guidance.

Scientific-Atlanta (SFA ) posted 40 cents, vs. 35 cents third-quarter earnings per share on a 12% sales rise.

NetFlix (NFLX ) posted a 17-cent first-quarter loss, vs. an 11-cent loss (GAAP) despite a 54% revenue rise. The company sees a $2.2 million to a $7.2 million second-quarter net loss on revenue of $160 million to $165 million and a $5 million to a $15 million net loss for 2005. S&P keeps hold.

Costco Wholesale (COST ) sees 41 cents to 43 cents third-quarter earnings per share, 63 cents to 67 cents fourth-quarter earnings per share, and $1.98 to $2.04 fiscal 2005 earnings per share. The company says gross margins were lower than planned, principally from gasoline sales. It raises its dividend 15%.