Oracle Gains

General Mills falls on lower than expected earnings; AIG climbs on higher earnings; plus more of Wednesday's stocks in the news

Oracle (ORCL ) posted 20 cents, vs. 19 cents fourth-quarter earnings per share (GAAP) on a 26% revenue rise.

American International Group (AIG ) posted $1.21, vs. $1.01 first-quarter earnings per share on 7.6% higher net premiums written.

General Mills (GIS ) posted 64 cents, vs. 74 cents fourth-quarter earnings per share from operations on 3% lower revenue. The company expects fiscal 2006 earnings per share to decline 8% to 10% from $3.08 fiscal 2005 (including a large net gain from dispositions) and targets low single-digit net sales growth.

Denim-apparel maker Innovo Group (INNO ) sees lower-than-expected 5 cents fiscal 2005 earnings per share on $115 million in revenue. The company cites an anticipated decline in private label sales for the third quarter and fourth-quarter, as well as slower ramping up for its indie collection.

Monsanto (MON ) posted 17 cents (including items), vs. 93 cents third-quarter earnings per share despite a 22% sales rise. The company reaffirms $2.00 to $2.25 2005 earnings per share guidance (excluding items). S&P reiterates strong sell.

Adaptec (ADPT ) expects first-quarter revenue to be about 7% to 10% below guidance. It ties its shortfall to channel selling price erosion and weaker-than-expected overall demand for its SCSI offerings. S&P cuts estimate and keeps hold.

Petco Animal Supplies (PETCE ) Down 1.99 to 29.62 Sees 3%-4% second-quarter same-store net sales growth. Says due to this second-quarter same-store sales forecast, addl 01/shr in costs, now expects second-quarter earnings per share to be at lower end of revised 31- 33 range. S&P reiterates buy.

Mattson Technology (MTSN ) cuts $37 million to $42 million second-quarter bookings guidance to about $27 million due to changes in timing of customer orders.

Calpine Corp. (CPN ) agrees to sell all domestic oil, gas exploration, and production assets for $1.05 billion to newly formed subsidiary, Rosetta Resources. Rosetta is to issue about 45.3 million shares. After the sale closes, Calpine will no longer own Rosetta.

Moissanite gemstone manufacturer Charles & Colvar (CTHR ) increases its second-quarter preliminary sales estimate to $9 million to $9.5 million from a prior range of $7.7 million to $8.4 million.

Symbol Technologies (SBL ) sees lower-than-expected 2 cents to 5 cents second-quarter earnings per share. The company expects 2005 revenue growth of 3% to 6% and cites continued economic sluggishness. It sets a restructuring plan, including work-force reduction and facilities write-offs and is to take a charge of $75 million to $95 million.

Integrated circuit maker Standard Microsystems (SMSC ) posted 15 cents, vs. 15 cents first-quarter earnings per share despite a 30% revenue rise. The company sees 17 cents to 21 cents second-quarter earnings per share (pro forma).

Sigmatel (SGTL ) cuts 48 cents to 57 cents second-quarter earnings per share guidance to 29 cents to 33 cents on lower-than-expected revenue of $68 million to $72 million.

Medical diagnostic instrument maker Dade Behring Holdings (DADE ) announces clearance from the FDA for its improved formulation for antimicrobial agent vancomycin on MicroScan Dried Gram-Positive Overnight antimicrobial susceptibility test panels.

IDT Corp. (IDT ) plans to commence tender offer for all Net2Phone (NTOP ) shares it does not already own at $1.70 per share.

Triad Hospitals (TRI ) plans to offer 3.6 million shares. It notes the offering is being made pursuant to Triad's currently effective shelf registration statement filed with the SEC.

Jarden Corp. (JAH ) agrees to acquire Holmes Group Inc., provider of niche branded consumer products, in a deal valued on a debt free basis at about $625 million, consisting of about $420 million cash and 4.1 million shares.

Horizon Financial (HRZB ) raises its quarterly dividend by 4% to 14 cents.

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