Yahoo Gains on Stronger Profits
Yahoo (YHOO ) shares climbed Wednesday after the Internet media company posted better-than-expected 17 cents vs. 17 cents third quarter earnings per share as items in both quarters offset a 47% revenue rise. rise. S&P reiterated its buy rating and raised its estimate. Piper Jaffray reiterated its outperform recommendation and raised its estimates and price target.
Motorola (MOT ) posted 69 cents (including 39 cents in gains) vs. 19 cents third quarter earnings per share from continuing operations on a 26% sales rise. It sees 32 cents to 34 cents fourth quarter earnings per share from continuing operations on sales of $10.3 billion to $10.5 billion. S&P raised its estimates and reiterated a strong buy.
Intel (INTC ) posted 32 cents (including a legal settlement charge and tax item) vs. 30 cents third quarter earnings per share on an 18% revenue rise. It sees fourth quarter revenue of $10.2 billion to $10.8 billion and a gross margin percentage of about 63%. S&P upped the stock to buy from hold.
Altria Group (MO ) posted $1.38 vs. $1.29 third quarter earnings per share on a 10% revenue rise. It narrowed its $5.00 to $5.10 2005 continuing operational earnings per share forecast to between $5.05 and $5.10.
Honeywell (HON ) posted 55 cents vs. 43 cents third quarter earnings per share on a 7.9% sales rise. It sees 2005 sales of $27.6 billion and $1.93 to $1.95 earnings per share on a reported basis.
JP Morgan Chase (JPM ) posted 71 cents vs. 39 cents on a 15% revenue rise.
General Dynamics (GD ) posted $1.84 vs. $1.60 third quarter earnings per share on a 16% revenue rise.
Seagate Technology (STX ) posted 54 cents including charges vs. 11 cents first quarter earnings per share on 34% higher revenue. It sees 44 cents to 48 cents second quarter earnings per share (GAAP) on revenue of between $2.1 billion and $2.2 billion. S&P reiterated a strong buy on the stock and Bear Stearns cut its recommendation to underperform from peer perform.
Kraft Foods (KFT ) posted 40 cents vs. 46 cents third quarter earnings per share as higher costs offset a 4.4% sales rise. It cut its 2005 earnings per share guidance to between $1.68 and $1.71, reflecting higher-than-expected energy, packaging, and dairy costs.
Bank Of America (BAC ) posted $1.02 vs. 91 cents third quarter earnings per share on a 16% revenue rise.
Cheesecake Factory (CAKE ) posted 27 cents vs. 16 cents third quarter earnings per share on a 0.9% rise in same-store sales at Cheesecake Factory restaurants, 3.8% higher at Grand Lux, and an 18% total revenue rise. Piper Jaffray upgraded the stock to outperform from market perform.
Linens'n Things (LIN ) posted 2 cents vs. 38 cents third quarter earnings per share on 10% lower same-store sales and 3.8% lower total sales. It says that to give variability in its results, it will not provide fourth quarter guidance at this time.
New York Times (NYT ) posted 16 cents vs. 33 cents third quarter earnings per share (GAAP) as higher costs offset a 2.2% total revenue rise. The current quarter included a 5 cents charge for costs associated with staff reductions.
Varian Medical (VAR ) says cancer treatment specialists on Tuesday outlined how image-guided radiotherapy technologies from the company enhance precision of cancer treatment. Separately, Jefferies upgraded the shares to buy from hold.
Office Depot (ODP ) posted a 15 cents third quarter loss vs. 28 cents earnings per share on a 5% sales rise. It noted third quarter 2005 earnings per share including charges of 50 cents and an option expense of 1 cent.