Intel Falls on Lowered Guidance
Shares of Intel (INTC) fell slightly Friday after the company lowered its $9.1 billion to $9.7 billion first quarter revenue guidance to between $8.7 billion and $9.1 billion, primarily due to weaker-than-expected demand and slight market segment share loss. It expects gross margin percentage to be adversely impacted by the change in revenue.
AK Steel Holding (AKS) US Steel is in talks to acquire rival AK Steel, a combination that would strengthen the Pittsburgh giant's position in the automotive industry, and take AK Steel off the menu of acquisition-minded foreign producers, according to the Pittsburgh Post Gazette.
Starbucks (SBUX) posts 8% higher February same-store sales and 25% higher total sales.
Dana (DCN) files Ch. 11 bankruptcy protection for U.S. operations and secures $1.45 billion debtor-in-possession financing. Dana reported total assets of approximately $7.9 billion and total liabilities of approximately $4.7 billion as of Sept. 30 2005.
Overstock.com (OSTK) John "Jack" Byrne says he is considering stepping down as chairman, according to the Wall Street Journal.
PC Mall (MALL) posts 11 cents fourth quarter earnings per share (EPS) from continuing operations vs. breakeven. Improved operating margin offset a 2% sales decline. It expects near-term results to be impacted by Apple's ((AAPL)) accelerated time-line for transition to the use of Intel processors.
Checkpoint Systems (CKP) posts 31 cents fourth quarter EPS vs. 74 cents loss (GAAP) on a 2.3% revenue rise. It sees $1.40 to $1.50 2006 EPS on flat to 3% lower revenue.
Univision Communications (UVN) posts 25 cents vs. 19 cents fourth quarter earnings per share (EPS) (pro forma) on an 11% revenue rise. It sees first quarter adjusted EPS of 14 cents to 16 cents on a mid-single-digit revenue rise.
Staar Surgical (STAA) posts 14 cents fourth quarter loss vs. 21 cents loss on a 13% sales rise. It sees first quarter loss approximately matching fourth quarter loss due to Research and Development investment, as well as the launch of Visian ICL in the U.S. It sees sales at or slightly higher than the fourth quarter.
Novell (NOVL) posts 4 cents vs. 3 cents first quarter EPS (non-GAAP) despite a 5.4% revenue decline. It sees 2 cents to 3 cents second quarter non-GAAP EPS on revenue of $272 million to $282 million.
Wendy's (WEN) plans to complete the initial public offering of Tim Hortons and spin-off remaining shares, as well as explore alternatives for Baja Fresh business.
Dillard's (DDS) posts $1.24 vs. $1.30 fourth quarter EPS despite a 2% same-store sales rise and 1.5% total sales rise.
SFBC (SFCC) postpones a fourth quarter 2005 conference call to March 9. It says it is working to complete an assessment of a substantial non-cash impairment charge it expects to take in the fourth quarter. It also withdraws existing 2006 guidance.