Imation Shares Surge

UnitedHealth Group has higher earnings; IRS tells Symantec it owes more taxes; plus more stocks in the news Tuesday

Imation (IMN) shares surged Tuesday after the company posted 55 cents vs. 92 cents first quarter EPS as restructuring and stock-based compensation expenses offset a 6.4% revenue rise. Thje company sees $1.70-$1.80 2006 EPS on $1.54-$1.59 billion in revenues. S&P raised its estimate and target but keeps its hold rating.

Merrill Lynch (MER) posts 44 cents (including items) vs. $1.21 first quarter earnings per share (EPS) on a 28% revenue rise.

UnitedHealth Group (UNH) posts 63 cents vs. 55 cents first quarter EPS on a 58% revenue rise. It raises 2006 EPS forecast to between $2.88 and $2.92.

Symantec (SYMC) says it has been notified by the IRS that it is owed additional taxes, plus interest, and penalties.

Johnson & Johnson (JNJ) posts $1.10 vs. 94 cents first quarter EPS on a 1.2% revenue rise.

Wendy's (WEN) Chief Executive Officer Jack Schuessler is to retire. The company elects Kerrii B. Anderson as interim CEO and president. It also elects board member James V. Pickett as its chairman.

United Auto Group (UAG) posts 51 cents vs. 49 cents first quarter EPS from continuing operations on an 11% revenue rise. It sees 75 cents to 78 cents second quarter EPS from continuing operations. It also anticipates a challenging and competitive auto retail market for the balance of 2006.

Supervalu (SVU) posts 4 cents vs. 65 cents fourth quarter EPS as higher costs and one-time 51 cents net after-tax charge offset a slight sales rise.

Dow Jones (DJ) posts 74 cents (including special items) vs. 10 cents first quarter EPS on a 9.7% revenue rise. It sees second quarter EPS before special items to be in the low to mid-30s range vs. 34 cents last year.

Mattel (MAT) posts 8 cents vs. 2 cents first quarter EPS on a 1.3% sales rise. It notes that its first quarter 2006 EPS was positively impacted by tax benefits of about 15 cents relating to audit settlements with foreign tax authorities.

RSA Security (RSAS) posts 7 cents vs. 10 cents first quarter EPS (Generally Accepted Accounting Principles) despite a 16% revenue rise. It sees 6 cents to 10 cents second quarter GAAP EPS on revenue of $88 million to $92 million.

Krispy Kreme Doughnuts (KKD) sees fourth quarter revenue of about $120 million vs. the year ago's $162 million. It cites lower average sales per store, a decrease in the number of Company stores, lower sales to franchisees, lower royalties, and fees from franchisees.

Russell (RML) agrees to be acquired by Berkshire Hathaway for $18 cash per share.

Amdocs (DOX) acquires Qpass, provider of digital commerce software and solutions, for $275 million cash.

Pepsi Bottling Group (PBG) posts 14 cents vs. 15 cents first quarter EPS as higher costs and expenses offset a 10% revenue rise. It sees $1.76 to $1.84 2006 EPS.

D.R.Horton (DHI) posts $1.11 vs. 92 cents second quarter EPS on a 25% revenue rise. It reiterates guidance for fiscal year 2006 EPS of $5.25 to $5.35.

Unisys (UIS) posts 8 cents first quarter loss vs. 13 cents loss on a 2% revenue rise. It expects its technology business to remain weak in the second quarter and to strengthen in the second half of the year.

Sharper Image (SHRP) posts 42 cents vs. $1.01 fourth quarter EPS on 15% lower same-store sales and 12% lower total revenue. It cites weak sales of Ionic Breeze Air Purifiers and massage chairs. It also expects to open just 6 to 8 new stores this year.

Travelzoo (TZOO) posts 24 cents vs. 10 cents first quarter earnings per share (EPS) on a 51% revenue rise.

MEMC Electronic (WFR) signs a letter of intent with Motech Industries for supply of solar wafers to Motech over an 8-year period. I notes a deal could generate at least $1.6 billion in revenue for MEMC Electronic.

Freeport McMoran (FCX) posts $1.23 vs. 70 cents first quarter EPS on a 35% revenue rise.

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