General Motors (GM ) is higher on a Wall Street Journal article indicating the UAW union may be willing to bend to management demands to give back some benefits.
In a mid-quarter update, Intel Corp. (INTC ) raised its $8.6 billion to $9.2 billion second-quarter sales guidance to $9.1 billion to $9.3 billion. The world's largest chipmaker expects gross margin of 57% of sales. S&P raises estimates, but keeps hold.
Citigroup (C ) agrees to a settlement in the Enron class action litigation, whereby Citigroup will make a pre-tax payment of $2 billion to settlement class.
Nortel Networks (NT ) announces the resignation of Gary Daichendt, president and COO of the company and Nortel Networks LTD. Bill Owens, vice chairman and CEO, will assume these responsibilities. S&P maintains hold.
Harris Corp. (HRS ) raised fiscal 2006 earnings per share guidance to $1.73 to $1.78. The company cites higher-than-expected orders for its Falcon II tactical radios used by U.S. armed forces and allied military forces.
Toys "R" Us (TOY ) posted a 19-cent first-quartet loss, vs. a 13-cent loss on slightly lower same-store sales at Toy Store unit and 3.6% total net sales rise. S&P maintains hold.
S&P says RealNetworks Inc. (RNWK ) is lower following unconfirmed News.com story that Microsoft MSFT might be readying a subscription online-music service. S&P downgrades RealNetworks to hold from buy.
Gaming-industry product manufacturer Shuffle Master (SHFL ) posted 19 cents, vs. 15 cents second-quarter earnings per share on a 35% total revenue rise. The company sees 21 cents to 22 cents third-quarter earnings per share and 77 cents to 79 cents fiscal 2005 earnings per share.
Diversified industrial concern Trinity Industries (TRN ) raised its 25 cents to 32 cents second-quarter earnings per share guidance to 35 cents to 42 cents.
Prudential upgrades Boston Beer (SAM ) to overweight from neutral.
Optimal Group (OPMR ) raised $7.05 million second-quarter underlying earnings before income taxes and non-controlling interest guidance to momre than $8.3 million. The company cites better-than-expected performance across all sectors of payments business and increased demand for certain products.
Keybanc upgrades Bob Evans Farms (BOBE ) to buy from hold.
SSA Global Technologies (SSAG ) posted a $2.05 third-quarter loss, vs. a $2.95 loss on a 9.7% total revenue rise.
Polo Ralph Lauren (RL ) posted 81 cents, vs. 79 cents fourth-quarter earnings per share (adjusted) on a 10% revenue rise. The company expects first-quarter consolidated revenues to increase more than 20%. It reiterates its $2.75 to $2.85 fiscal 2006 earnings per share guidance.
McKesson Corp. (MCK ) agrees to sell McKesson BioServices unit to Fisher Scientific (FSH ) for approximately $60 million. The company expects an after-tax gain of about $13 million to $15 million for the quarter in which the deal closes.
MDU Resources Group (MDU ) reaffirms $1.80 to $2.00 2005 earnings per share guidance despite a Federal District Court's order to halt operations at Badger Hills Project. The company buys 7 Oregon companies with cash and stock. Terms were not disclosed. A deal is expected to be accretive to 2005 earnings per share. split.