Morgan Stanley Posts Higher Profit
Morgan Stanley (MS) posts $1.75 vs. $1.09 Q3 EPS from cont. ops on 15% revenue rise.
Circuit City (CC) posts 7 cents vs. 2 cents second quarter EPS from cont. ops on 8.3% higher same-store sales, 11% higher total sales. Sees 7%-9% higher FY 07 domestic same-store sales growth.
Oracle (ORCL) posts 13 cents vs. 10 cents first quarter EPS (GAAP) on 26% revenue rise (constant currency).
Broadcom (BRCM) says William J. Ruehle, its Senior VP, CFO, has decided to retire, effective immediately, as result of Broadcom's previously-announced equity award review.
Due to delays in start dates for certain construction projects in U.S., Willbros Group (WG) expects third quarter revenue to be less than originally anticipated and comparable to that of the second quarter. The company sees a loss from continuing operations to approximate the second-quarter loss.
After completing a market check to determine value others would put on Putnam Investments, Marsh & McLennan (MMC) says it will "not take any specific action in regard to Putnam at this time."
Mittal Steel (MT) says methane gas explosion occurred in its Lenina mine in Kazakhstan. The company says at this time there are 18 reported fatalities; further 25 people are still missing. Cause of explosion not yet known.
Marubeni Corp., largest shareholder in Daiei Inc., will soon enter into separate talks with Aeon Co. and Wal-Mart Stores (WMT) to choose partner to assist in rehabilitation of Daiei: Daily Yomiuri.
People's Bank (PBCT) and People's Mutual Holding (MHC) plan to convert to stock-holding company. Currently, MHC owns about 58% of PBCT, rest are owned by public. Pursuant to plan, 100% of People's Bank's shares will be owned by new public holding co.
Darden (DRI) Posts $0.59 vs. $0.53 Q1 EPS on 3.3% sales rise. Raises FY 07 EPS growth forecast to 10%-12% from 9%-10%. CFO to retire.